Tele-Medicine is Growing

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About SwiftMD.com

[By Staff Reporters]

radar1According to its website, SwiftMD isn’t just better telemedicine; it’s better medicine because of its physicians’ quality. Patient telephone calls are usually returned within 30 minutes, any time of the day or night. They employ a powerful eHR that is secure, HIPAA-compliant and keeps patients informed about their care. And, it is all done at an affordable price.

Link: www.SwiftMD.com

Features

Here is the prioritized way in which the telemedicine service is said to work:

  • Request – Call 1-877-WWW-SWIFT or request a consultation online.
  • Assess – No emergencies are accepted.
  • Response – A physician calls back, day or night, usually within 30 minutes.
  • Consult – The doctor discusses your condition, consults your eHR, diagnoses and recommends treatment.
  • Record – A SwiftMD health record is also available 24/7 for updated references.

Assessment

According to SwiftMD, the service is easy to us; no more driving across town; or sitting in waiting rooms. Just high-quality medical care when and where needed. Group, individual and family plans are available.

Link: http://www.swiftmd.com/xres/uploads/documents/SwiftMD-WhitePaper20080819a.pdf

UPDATE 2015

Why Teladoc Needs Medical Attention
The Wall Street Journal, October 4, 2015

Only 45% of Diabetes Patients Use Mobile Health Tools
mHealth Intelligence, October 2, 2015

AAFP Still Searching for Right Stance on Telemedicine
MedPage Today, October 2, 2015

Walgreens Expanding Telemedicine on Its App in the Next Month
MedCity News, October 1, 2015

Mobile Health Apps Fall Short in Protecting Data Privacy
Medscape, September 29, 2015

Mental-Health Apps Make Inroads With Consumers and Therapists
The Wall Street Journal, September 27, 2015

Conclusion

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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

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Physician Household Borrowing and/or Investing

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Deciding What Works?

[By Staff Reporters]fp-book4

Another way of asking the above titled question might be, “Is it smart for a doctor’s household to build savings while they are getting out of debt?”  

Financial Priorities

In the first instance, the doctor already has debt and would be increasing the terms of any loans by deferring some of the payments to savings, which is equivalent to borrowing the same amount.

In the second instance, the doctor would be taking on debt to save more money. The answer is that it makes sense to borrow money for investment purposes only if the financial gains derived from the investment are larger than the financial benefits of paying off the debt. But, who can know for sure?

www.MedicalBusinessAdvisors.com

Minimum Account Payments

Assuming that a medical professional has more debt than needed, and doesn’t make contributions to a retirement account, the concern becomes: [1] should he/she make minimum payments to the debt and contribute to a retirement account; or [2] should he/she make the maximum payments toward the debt or loans, etc?

Downside Risks

It is important to understand the downside risks of a lower payment strategy. Just as stocks return more than bonds due to their higher risk, the lower payment strategy returns more because of its’ higher risk. Taking on debt to finance an investment is riskier than paying off debt for a number of reasons.

First, the US economy may continue its’ current depressionary spiral, and investments and savings could disappear as financial institutions fail. This would leave the doctor with debt that he or she could not service.

Second, the rate-of-return required to decide whether or not to borrow for investment purposes may not be achieved, leaving the doctor in worse financial shape than if he or she had just paid off the debt.

Assessment

Ultimately, the doctor must decide if the added risks are worth the possible gain. But, the services of a fiduciary financial advisor may also be required. However, some doctors may not be ready to receive the sort of “tough-love” required in this case. 

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Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners(TM)

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