Slide Show on the Social Life of Health Information

Posted on October 30, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

A Graphical Presentation

By Susannah Fox [Pew Institute]

First reported here:

Link: http://www.slideshare.net/PewInternet/trends-the-social-life-of-health-information-10262009

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Return on Investment Calculations for [Concierge] Medical Practice Marketing Initiatives

Posted on October 30, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Calculating Tangible ROI for Intangible Activities

By DeeVee Devarakonda; MBA [Former CMO of Quaero, Inc]

By Dr. David Edward Marcinko; MBA [Publisher-in-Chief]

Gone are the days when money was freely spent on medical practice marketing activities such as the yellow pages, radio or TV advertisements. And, today’s internet based business climate is especially harsh for ethereal programs that can not present a clear Return on Investment [ROI] for their existence. Concierge and cash-based medical practice marketing is especially vulnerable in this climate unless supported with a sound ROI argument.

The Challenge

A very basic challenge all medical practices is not only pooling the resources but also allocating them wisely. ROI arguments help practices make those choices. Typically marketing budget and outlay decisions focus on operating expenses like public relations, podcasts, webcasts and internet advertising. However, marketing can also involve capital investment decisions. To be successful, medical practitioners should learn to speak the language of business and build ROI analysis to support such initiatives.

How do you calculate the ROI for internet marketing initiatives?

Here are some basic steps to help you build the ROI scenario for your marketing initiatives:

Detail the marketing costs:
Estimate the revenue impacts:

Hardware – computers, servers, accessories
Software – database, campaign management software
Implementation costs of hardware and/or software
Internal resource costs associated with the deployment of the capital improvement
Upfront investments in call centers, staff, equipment and so on.
Increase in patient response rates
Increase in patient conversion and practice acceptance rates
Increase cross-sell product and services ratios
Decreased account patient attrition rates
Increase in practice CM fees
Increase in average spend per patient/account
Increase in average number of patient transactions.

Practices can use past experiences to guesstimate the revenue impact; others like-minded colleagues.

Net Present Value

Once you calculate the revenue and cost impacts, you need to calculate the Net Present Value (NPV) of your marketing initiative. For a marketing project, if the NPV is greater than zero that means your project will make money; if it is less than zero – it will not (and you typically need a compelling business reason to implement a marketing project with an NPV less than zero).

NPV calculations include:

1) Investment – money you expend for the initiative at the beginning

2) Revenues – that accrue as a result of the initiative over a period – can be one time or a recurring revenue

3) Costs – that accrue as a result of the initiative over a period – can be one time or a recurring item

4) Discount rate – your accountant can give this rate.

5) Time Period – define the time period for which you would like to compute the NPV.

6) NPV is the cumulative differential between the revenue and cost stream discounted at the discounted rate minus the investment.

NPV=SUM ((Rt-Ct) / (1+r)t) – I

t=1

Given:

where t represents time, n represents the number of time periods, R is revenue impacts, C is cost impacts, r is the discount rate and I is the Investment.

An NPV >0 means the project will pay for itself, <0 means the project does not pay for itself and an NPV of zero will give you a break even.

Assessment

Remember NPV is simply a guideline to help quantify the marketing results to make informed investment decisions. Note: NPV calculations that include assumptions also allow room for error. Spreadsheets help calculate the NPV for any initiative. Simple software can also help develop “what-if” scenarios with various values for NPV components and marketing options. The model can be used for non-marketing, or any initiative, as well.

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. How do you determine ROI for any medical practice initiative? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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Filed under: "Doctors Only", Career Development, Marketing & Advertising, Practice Management, Research & Development | Tagged: concierge medicine, DeeVee Devarakonda, net present value, NPV, ROI | 6 Comments »

Take the Electronic Medical Records Survey

Posted on October 29, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Discerning the Effects of ARRA and HI-TECH on eMR Adoption

By Ann Miller; RN, MHA

[Executive Director]

Hi Dr. Marcinko and ME-P Readers

I hope you and all readers are doing well.

As you know, this Friday marks the close of the first reporting period for Recovery Act funds. Any grants or loans awarded between February 17th (the signing of the bill) and September 30th 2009 will be reported in the survey.

Electronic Medical Records

I am eager to see the results because I want to know what effect the economic Stimulus Bill has had on eMR adoption rates. Are more doctors buying eMRs as a result of incentives? Or, has the bill simply reinvigorated research?

Take the Survey

I’m hosting a survey about this on our blog and I would love for you to participate. To be involved, just answer the question I’ve posted at:

http://www.softwareadvice.com/articles/medical/obamas-emr-stimulus-of-2009-creating-buyers-or-tire-kickers-1102709/

Assessment

I would also really appreciate your help in getting the word out about this survey. Would you mind posting a link back to the survey from your blog?

Thanks in advance for your participation!

Houston Neal
www.softwareadvice.com

Office: (512) 364-0117
Email: houston@softwareadvice.com

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Criticizing Electronic Medical Records?

Posted on October 28, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

By Brent A. Metfessel; MD, MS

By Staff Writers

www.HealthcareFinancials.com

Despite ARRA and the HITECH initiatives, eMRs are not without drawbacks. And, with apologies to USCTO Aneesh Chopra, we list the following.

List of Drawbacks

The following are some of the more notable negatives:

Operator dependence — The term “garbage in, garbage out” applies to eMRs as well. The computer only works as well as the data it receives. If one is resistant to computing and works begrudgingly, is not well-trained, or is rushed for time, the potential exists for significantly incomplete or error-prone documentation.
Variable flexibility for unique needs — When one sees a single hospital, one sees just that — a single hospital, with unique needs unlike any other facility. A “one size fits all” approach misses the target. Even within a hospital, needs may change rapidly over time given the continued onslaught of external initiatives and measurement demands. Systems vary in flexibility and the ease with which they can customize options. More flexible systems exist but cost much more.
Data entry errors — Although data items normally only have to be entered once, data entry errors may still occur and be propagated throughout the system. Most notably, patient data can more easily be entered into the wrong chart when there is an error in chart selection. In general, simple double-checking and “sanity checks” in the system usually catch these errors, but if the error goes through the system the impact can be significant.
Lack of system integration — Interconnectivity of systems becomes more important with eMRs than with any other system. Personnel use the data in many different areas. If there are isolated departmental systems without connectivity, redundant data entry occur leading to confusion in the different departments. Appropriate and intelligent clinical decision support systems can make the job of the physician easier through education, real-time feedback, and through the presentation of choices that allow for clinical judgment.
Costs of implementation — Intelligently applied eMR implementations may also be cost saving; long term. For example, one large east coast hospital found that eMRs saved $9,000 to $19,000 annually per physician FTE. This savings was achieved through a decrease in costs for record retrieval, transcription, non-formulary drug ordering, and improvements in billing accuracy. And, in radiology, storage of digital pictures and the use of a picture archival and communication system significantly [PACS] decreased the turnaround time for radiology image interpretation — from 72 hours to only 1 hour. However, there is significant front-loading of costs prior to achieving such costs savings.

Link: WSJ_Letter_3M_Company_2009-10-16

Assessment

At the American Health Information Management Association [AHIMA] October 2006 conference, panelists suggested that developing, purchasing, and implementing an EMR would cost over $32,000 per physician, with an outlay of $1,200 per physician per month for maintenance. This is larger in economic scope, today. Also, there exists no national standard that would require compatibility between the numerous competing eMR vendor systems that may need to communicate with each other, which can escalate costs and frustration in systems that attempt to integrate the features of multiple vendors.

Some recent HIT fiascos:

Link: http://psnet.ahrq.gov/resource.aspx?resourceID=3090

Link: http://psnet.ahrq.gov/resource.aspx?resourceID=1905

Link: http://psnet.ahrq.gov/resource.aspx?resourceID=5286

Link: http://psnet.ahrq.gov/resource.aspx?resourceID=3891

http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2009/10/12/newscolumn3.html#

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Filed under: Information Technology, Point-Counter Point | Tagged: AHIMA, Aneesh Chopra, ARRA, Brent Metfessel, CCHIT, david marcinko, EHRs, electronic medical records, eNRs, HITECH, PACS, USCTO, www.healthcarefinancials.com | 11 Comments »

Championing Electronic Medical Records?

Posted on October 27, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

By Brent A. Metfessel; MD, MS

By Staff Writers

www.HealthcareFinancials.com

eMRs involve accessibility at the bedside either through bedside terminals, portable workstations, laptops, wireless tablets, and hand-held computers and personal digital assistants (PDAs), (e.g., 3ComtmPalm Pilot®). The inputs can either be uploaded into the main computer system after rounds or transmitted immediately to the system in the case of wireless technology. Bedside technology obviates the need to re-enter data from notes after rounds are complete. This improves recall and avoids redundancy in the work process, saving time that can instead be devoted to patient care.

Usual eMR Features

Common features of an eMR include the following:

history and physical exam documentation, progress notes, and patient demographics;
medication and medication allergy information;
CPOEs and laboratory results;
graphical displays of medical imaging studies including X-rays, CT, and MRI;
ordering of drugs, diagnostic tests, and treatments, including decision support and drug interaction alerts;
clinical practice guidelines (evidence-based) to aid diagnostic and treatment decisions;
alerts that can be sent to patients reminding them of appointments and necessary preventive care;
scheduling of appointments;
processing of claims for payment; and
a GUI, which may include secure Web-based and wireless technologies that allows providers or other authorized healthcare personnel access to health information from remote sites, including outside offices and home.

Assessment

There are also other benefits, as well. For example, instead of calculating fluid balance off-line, the computer can perform calculations immediately, once again saving time and ensuring accurate values. Medication orders can also be entered in real-time, giving the provider the option to react to alerts at the bedside rather than waiting to load the orders into the system in “batch” mode.

Conclusion

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Filed under: Information Technology, Point-Counter Point | Tagged: Brent Metfessel, CPOEs, CT, david marcinko, EHRs, electronic medical records, EMRs, GUI, health information technology, HIT, MRI, www.healthcarefinancials.com | 6 Comments »

About Archimedes.com

Posted on October 25, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

A Mathematic Model of Human Disease?

By Staff Reporters

No, we don’t mean the classical scientist of antiquity. Rather, Archimedes is an independent healthcare modeling organization located in San Francisco. Their core technology – the Archimedes Model – is a mathematical model of human physiology, diseases, interventions and healthcare systems. The Model is reportedly detailed, rigorously validated and made available for use by health plans, pharmaceutical companies, researchers, and other organizations to help understand and resolve vital clinical and administrative healthcare questions.

The Model

Founders

Archimedes was founded by industry veterans David Eddy MD PhD, and Len Schlessinger PhD.

Disease Entities

Currently the Model includes:

Diabetes and complications
Coronary artery disease
Hypertension
Congestive heart failure
Stroke
Dyslipidemia
Obesity
Metabolic syndrome
Asthma
Colon cancer
Breast cancer
Lung cancer

Other conditions are continuously being added.

Assessment

By using advanced methods of mathematics, computing, and data systems, the Model strives to enable managers, administrators, and policymakers to be better informed and to make smarter decisions than has previously been possible. So, give em’ a click and tell us what you think?

Link: http://archimedesmodel.com/index.html

Conclusion

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Filed under: "Doctors Only", Drugs and Pharma, Health Economics, Healthcare Finance, Research & Development | Tagged: Archimedes Model, Archimedes.com, David Eddy MD PhD, Len Schlessinger PhD, mathematical models, medical data systems | 1 Comment »

New-Wave ME-P Sponsorship Opportunities

Posted on October 24, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Invest in the ME-P

By Ann Miller; RN, MHA

[Executive Director]

Next year’s budgets are being planned now. Will your company receive a portion of your clients’ budget? Do you have the market presence to attract new clients? Or, to have your electronic message seen by the busy decision makers you want to influence?

If so, our ME-P suite of solutions may right for you.

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Reach out and impress more than 100,000 physician and nurse-executives, financial advisors, CEOs and medical management consultants in the Health 2.0 space. Our premium institutional e-journal: www.HealthcareFinancials.com and complimentary companion newsletter blog: www.HealthcareFinancials.wordpress.com has limited sponsorship and advertising opportunities available; So; be sure to act now! We advocate for your cause.

Advertise with us! Reserve your space today.

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Why America Spends More on Healthcare

Posted on October 23, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

A McKinsey Global Institute Review

By Nancy Chockley; PhD
President & CEO
NIHCM Foundation

Path breaking work by the McKinsey Global Institute (MGI) shows that, relative to other peer countries from the Organization for Economic Cooperation and Development, the U.S. spends nearly $650 billion more on health care than would be expected after adjusting for cross-country differences in wealth. Fully two-thirds of this added spending occurs in the outpatient sector.

Out-Patient Services

The highly profitable nature of many outpatient services coupled with the incentives of a fee-for-service payment system are contributing to greater intensity of outpatient care and helping to fuel this spending. In this essay, “Why America Spends More on Health Care,” Eric Jensen and Lenny Mendonca describe MGI’s work to examine all sectors of the American health care system and identify factors responsible for the higher-than-expected spending.

More Examples

Other recent Expert Voices essays on health reform include:

Jonathan Gruber, PhD, Professor of Economics, Massachusetts Institute of Technology, “The Role of Individual Mandates in Health Reform” (January 2009).
Paul N. Van de Water, PhD, Senior Fellow, Center on Budget and Policy Priorities. “Scoring Health Legislation” (April 2009).
Mark Fendrick, MD, University of Michigan Medical Center and Michael Chernew, PhD, Harvard Medical School, June 2009. “Value Based Insurance Design” (June 2009).
I hope you enjoy reading this essay and those that follow.

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Filed under: Breaking News, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Op-Editorials, Research & Development | Tagged: Eric Jensen, Expert Voices, Harvard Medical School, Jonathan Gruber, Lenny Mendonca, Mark Fendrick, McKinsey Global Institute, Michael Chernew, Michigan Medical Center, MIT, Nancy Chockley, NIHCM, NIHCM Foundation, Paul N. Van de Water | 3 Comments »

Current Milestones in Retirement Planning For Physicians

Posted on October 22, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

What if You Are Behind Your Target Goals?

By: Alexander M. Kimura; MBA, CFP®

By: Robert J. Greenberg; CFP®

By: Richard P. Moran; CFP®

The stock market has been in a terrible place for your money and retirement planning, since October 2007. Perhaps even the last decade or so for some physicians. But, if none of your assumptions have changed and you feel that you can make up the difference in the next year, you probably can use the same retirement cash flow plan. As a rule of thumb, if you’re less than 10 percent off of your goal, you may not need to do anything. This is rare in the investing climate today!

So, if you have fallen so far behind that each year’s target seems unachievable, you will probably need to make some changes. However, before you change your planning and investing, you need to see why you’re behind.

Examine Expenses

If you haven’t saved as much as you expected, take a look at your expenses [personal and office] and see where you can cut down. Remember, you need to pay yourself first before you spend on luxuries. Contribute as much as possible to your qualified retirement plan at work, too.

Examine Returns

Next, you need to look at your investment returns. Since the stock market has been in one of its inevitable “corrections” for several years, this can significantly impact your balances. Remember, your return assumptions are based on averages that should include the bad and good years. If you’re close to retirement and have a large shortfall, then you may need to increase the risk in your investment portfolio in order to meet your goals. If the market falls more, or stays down for some time, increasing risk by buying more stocks forces you to “buy low” which should pay off over time.

Assessment

As a doctor, you can always delay retirement and work a few more years. Fortunately, medicine is one profession where experience earns an economic premium.

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. How will you make up any retirement shortfall? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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Filed under: Recommended Books, Retirement and Benefits | Tagged: Alexander M. Kimura, David E. Marcinko, retirement benefits, retirement planning, Richard P. Moran, Robert J. Greenberg | 4 Comments »

About the HelloHealth.com Primary Care Business Platform

Posted on October 22, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Connecting Doctors and Patients

By Staff Reporters

Hello Health is a platform for improving the way primary care practices do business. The platform includes a significant level of support such as online access to the Hello Health practitioner community, offline and online training and continuing education.

What it is – How it works

With Hello Health, doctors can set up their own Hello Health “storefront,” and use their online web-based platform to see local patients in the office and online, communicate, document, and receive payments from them [www.HelloHealth.com].

According to its’ website, Hello Health helps primary care doctors to:

Sell professional services. Simply apply for a practice.
Be Web-Based and Mobile. Like the rest of the world— anytime, anywhere.
Keep track of a medical practice. Manage visits and appointments.
Communicate in the 21st Century. Email, IM, and video chat with patients.
Document quickly and easily. Record in-person and online interactions.
Connect with medical colleagues. Communicate, share wisdom, and collaborate.
Get paid hassle-free. Patients pay doctors with their credit card on file.

Founder by noted physician blogger Jay Parkinson MD, MPH, the Hello Health platform was built from the ground up to help doctors do what they do best— form relationships and practice real medicine [http://blog.jayparkinsonmd.com]. Jay says,

“It’s practicing medicine using today’s technology and today’s communication – and getting paid for communicating with your patients whether it’s in your office or using email, IM, or video chats within hellohealth.com.”

A companion educational service is run by L. Gordon Moore, MD of Hello Health University.

Here is a slideshow from the Feast Conference and EfficientMD.com

http://efficientmd.blogspot.com/2009/10/dr-jay-parkinsons-slides-from-feast.html

Assessment

There is also a platform for patients to help them connect with Hello Health physicians online or on-ground.

Conclusion

And so, thoughts and comments from Hello Health doctors and patients are appreciated. Give em’ a click and tell us what you think [www.HelloHealth.com]?

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When Investing or Stock Trading Is No Longer Fun

Posted on October 21, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding Obsessive-Compulsive Behavior

By: Dr. David Edward Marcinko; FACFAS, MBA, CMP™

By: Dr. Eugene Schmuckler; MBA, CTS

By: Dr. Kenneth H. Shubin-Stein, CFA

By: Richard B. Wagner; JD, CFP®

An obsession is a persistent, recurring preoccupation with an idea or thought. A compulsion is an impulse that is experienced as irresistible. Obsessive-compulsive individuals feel compelled to think thoughts that they say they do not want to think or to carry out actions that they say are against their will. These individuals usually realize that their behavior is irrational, but it is beyond their control. In general, these individuals are preoccupied with orderliness, perfectionism, and mental and interpersonal control, at the expense of flexibility, openness, and efficiency.

Specifically, behaviors such as the following may be seen:

Preoccupation with details.
Perfectionism that interferes with task completion.
Excessive devotion to work and office productivity.
Scrupulous and inflexible about morality (not accounted for by cultural or religious identification).
Inability to discard worn-out or worthless objects without sentimental value.
Reluctance to delegate tasks or to work with others.
Adopts a miserly spending style toward both self and others.
Demonstrates a rigid, inflexible and stubborn nature.

Most people resort to some minor obsessive-compulsive patterns under severe pressure or when trying to achieve goals that they consider critically important. In fact, many individuals refer to this as superstitious behavior. The study habits required for medical students entail a good deal of compulsive behavior.

Related Addictions

As the above examples suggest, there are a variety of addictions possible. Recent news accounts have pointed out that even high-level governmental officials can experience sex addiction. The advent of the Internet has led to what is referred to as Internet addiction where an individual is transfixed to the computer working for hours on end without a specific project in mind. The simple act of “surfing” offers the person afflicted with the addiction some degree of satisfaction.

The Gambler

Still another form of addictive behavior is that of the compulsive gambler. This is the behavior of an individual who is unable to resist the impulse to gamble. Many reasons have been posited for this type of behavior including the death instinct; a need to lose; a wish to repeat a big win; identification with adults the “gambler” knew as an adolescent; and a desire for action and excitement. There are other explanations offered for this form of compulsive behavior. The act of betting allows the individual to express an immature bravery, courage, manliness, and persistence against unfavorable odds. By actually using money and challenging reality, he puts himself into “action” and intense emotion. By means of gambling, the addicted individual is able to pretend that he is favored by “lady luck,” specially chosen, successful, able to beat the system and escape from feelings of discontent.

Just Plain Greed

Greed is another reason. In fact, a 1987 poll conducted by the Chicago Tribune revealed that people who earned less than $30,000 a year, said that $50,000 would fulfill their dreams, whereas those with yearly incomes of over $100,000 said they would need $250,000 to be satisfied. More recent studies confirm that goals keep getting pushed upward as soon as a lower level is reached. Now, consider Bernie Madoff, and the recent sub-prime mortgage debt fiasco in this light?

Compulsive Doctors

Edward Looney, executive director of the Trenton, New Jersey based Council on Compulsive Gambling (CCG) reports that the number of individuals calling with trading-associated problems is doubling annually. In the mid 1980s, when the council was formed, the number of people calling the council’s hotline (1 – 800 Gambler) with stock-market gambling problems was approximately 1.5 percent of all calls received. In 1998 that number grew to 3 percent and it is projected to rise to 7-8 percent by 2005. Dr. Robert Custer, an expert on compulsive gambling reported, that stock market gamblers represent over 20 percent of the gamblers that he has diagnosed. It is evident that on-line trading presents a tremendous risk to the speculator. The CCG describes some of the consequences:

Dr. Fred B. is a 43-year-old Caucasian male physician with a salary above $100,000 and in debt for more than $100,000. He is married with two children. He was a day trader.
Michael Q. is a 28-year-old Caucasian male registered nurse. He is married and the father of one (7 month old) child. He earns $65,000 and lost $40,000 savings in day trading and is in debt for $25,000. He has suicidal ideation.

Assessment

Question: So how much money is enough?

Answer: Just a little bit more.

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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Filed under: Ethics, Financial Planning, Op-Editorials, Portfolio Management, Recommended Books, Risk Management | Tagged: Bernie Madoff, CFA, CFP, CMP, Council on Compulsive Gambling, David Edward Marcinko, day trading, Edward Looney, Eugene Schmuckler, Internet addiction, Kenneth H. Shubin-Stein, Obsessive-compulsive, Richard B. Wagner, sub-prime mortgages, superstitious behavior | 2 Comments »

Understanding Behavioral Finance and Economics

Posted on October 20, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Historical Review

By: Dr. David Edward Marcinko; MBA, MEd, CMP™

By: Eugene Schmuckler; PhD, MBA, CTS

By: Dr. Kenneth H. Shubin-Stein, CFA

By: Richard B. Wagner; JD, CFP®

***

Validating the emerging alliance between psychology (human behavior) and finance (economics) is the fact that two Americans won the Royal Swedish Academy of Science’s, 2002 Nobel Memorial Prize in Economic Science. Their research was nothing short of an explanation for the idiosyncrasies incumbent in human financial decision-making outcomes.

The Pioneers

Daniel Kahneman, PhD, professor of psychology at Princeton University, and Vernon L. Smith, PhD, professor of economics at George Mason University in Fairfax, Va., shared the prize for work that provided insight on everything from stock market bubbles, to regulating utilities, and countless other economic activities. In several cases, the winners tried to explain apparent financial paradoxes.

The Experiments

For example, Professor Kahneman made the economically puzzling discovery that most of his subjects would make a 20-minute trip to buy a calculator for $10 instead of $15, but would not make the same trip to buy a jacket for $120 instead of $125, saving the same $5.

Initially, in the 1960’s, Smith set out to demonstrate how economic theory worked in the laboratory (in vitro), while Kahneman was more interested in the ways economic theory mis-predicted people in real-life (in-vivo). He tested the limits of standard economic choice theory in predicting the actions of real people, and his work formalized laboratory techniques for studying economic decision making, with a focus on trading and bargaining.

Academe’

Later, Smith and Kahneman together were among the first economists to make experimental data a cornerstone of academic output. Their studies included people playing games of cooperation and trust, and simulating different types of markets in a laboratory setting. Their theories assumed that individuals make decisions systematically, based on preferences and available information, in a way that changes little over time, or in different contexts. By the late 1970’s, Richard H. Thaler, PhD, an economist at the University of Chicago also began to perform behavioral experiments further suggesting irrational wrinkles in standard financial theory and behavior, enhancing the still embryonic but increasingly popular theories of Kahneman and Smith.

Other Pioneers

Other economists’ laboratory experiments used ideas about competitive interactions pioneered by game theorists like John Forbes Nash Jr., PhD, who shared the Nobel in 1994, as points of reference. But, Kahneman and Smith often concentrated on cases where people’s actions depart from the systematic, rational strategies that Nash envisioned. Psychologically, this was all a precursor to the informal concept of life planning.

Enter the Financial Planners

Of course, comprehensive financial planners have always consulted with their clients regarding their goals and objectives, hopes and dreams, but typically from the point of view of money goals, rather than life ideals or business goals. The absence, or presence of biological and/or psychological reasons for them was never conceived, nor discussed. But, quantifying future subjective and objective goals, and doing a technical analysis of factors such as risk tolerance, age, insurance, tax, investing, retirement and estate planning needs, has certainly been the norm, especially for Certified Medical Planners (CMP).

Assessment

Life planning and behavioral finance then, as proposed for physicians and integrated by the Institute of Medical Business Advisors (iMBA) is somewhat similar. Its uniqueness emanates from a holistic union of personal financial planning and medical practice management, solely for the healthcare space. Unlike pure life planning, pure financial planning, or pure management theory, it is both a quantitative and qualitative “hard and soft” science. It has an ambitious economic, psychological and managerial niche value proposition never before proposed and codified, while still representing an evolving philosophy. Its’ zealous practitioners are called Certified Medical Planners (CMPs).

www.CertifiedMedicalPlanner.org

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.

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FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

***

Filed under: Ethics, Financial Planning, Investing, Recommended Books | Tagged: behavorial finance, choice theory, Daniel Kahneman, david marcinko, Eugene Schmuckler, John Forbes Nash, Ken Shubin-Stein, life planers, Richard H. Thaler, Richard Wagner, Vernon L. Smith | 5 Comments »

Stock Broker Report Card Survey

Posted on October 19, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Doctor – Does your Broker Make the Grade?

[By Staff Reporters]

Dear Colleagues,

Does your stock-broker or brokerage firm make the grade?

Be sure to participate in the annual broker report cards survey. And, if you work for Merrill Lynch, UBS, Morgan Stanley Smith Barney, Wells Fargo Advisors or Edward Jones, this trade magazine [Registered Rep] survey is for you.

Assessment

Click here to participate!

Channel Surfing the ME-P

Conclusion

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ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

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On Physician Bonuses

Posted on October 19, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Money and Incentive Pools

By Brent A. Metfessel; MD, MS

Some Managed Care Organizations [MCOs] use medical provider profiles to allocate funds to the top-performing physicians. The MCO may give additional bonuses or preferential allocation of incentive pool funds to providers that perform well on particular cost-effectiveness and quality indices.

Incentive Pools

Incentive pools are often built based on a certain percentage or “withhold” of dollars that are taken from the providers’ usual reimbursement and placed in a pool. Top performers would be allocated the greatest percentage.

Example:

One mid-sized health plan in the Southeast paid a 20% bonus to providers with a case-mix adjusted performance ratio (actual/expected cost) of less than 1.3. Although such allocation schemes might incent providers to practice efficiently and with high quality, the MCO should attempt provider education as to the most appropriate practice patterns for the first one to two years after new profiles are introduced. This education should occur prior to introducing monetary incentives, since otherwise the relationship between providers and MCOs may ultimately become strained.

Assessment

Unfortunately, money can become a major point of contention between providers and between providers and the health plan.

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. How do your bonus pools work; or should work? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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Filed under: Career Development, Healthcare Finance, Practice Management, Quality Initiatives | Tagged: Brent A. Metfessel, HMO, incentive risk pools, Managed Care Organizations, MCO, medical reimbursement, medical reimbursement witholds, P4P, risk pools | 1 Comment »

Congressional Budget Office Healthcare Reports of Interest

Posted on October 18, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Ten [10] Aggregated CBO Reports

By Staff Reporters

Courtesy of Healthcare Town Hall:

Assessment

Conclusion

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Goals of Medical Performance Improvement

Posted on October 18, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding Best Clinical Practices

By Brent A. Metfessel; MD, MS

The major goals of medical performance improvement are twofold: First, for a particular practice pattern measure, the desire is to narrow the practice variation around the present health care mean. For instance, the spread of the distribution of a cost variance measure should decrease with process improvement. Second, clinical guideline-based “best practices” can be utilized to move the entire provider population mean toward better cost-efficiency and quality.

Best-Practices

Although best-practices may be guideline-based, they should be adapted to local considerations and evaluated periodically through actual outcomes analysis. Such outcomes measures may include:

Cost-efficiency improvement, showing a decrease in resource utilization.
An increase in the performance of preventive measures, such as childhood immunizations and various screening tests such as breast and cervical cancer screening. This may increase costs initially but will more than pay for itself through a decreased illness burden and cost in the future.
A decrease in episode length, usually implying a quicker resolution of symptoms.
A decrease in emergency room visits and unplanned hospital admissions.
A decrease in the rate of “sentinel events” such as status asthmaticus, hemorrhage during pregnancy, diabetic ketoacidosis, and ruptured appendix.

Many of these measures can be obtained using commonly available claims and administrative databases, although supplementation with clinical and functional status data will only increase the reliability and scope of outcomes analysis.

Assessment

In order to see significant performance improvement in response to quality improvement initiatives, one must be patient. Two to three years may be needed to see this improvement. Trending of measures helps analysts to determine whether such improvement is occurring. Trending of data, however, can be quite resource-intensive since there must be an adequate data set – usually requiring storage of data for several years of experience.

Conclusion

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Filed under: "Doctors Only", Career Development, Health Insurance, Managed Care, Practice Management, Quality Initiatives, Recommended Books | Tagged: Brent A. Metfessel, clinical medical guidelines, medical cost effectiveness, medical performance improvement, process improvement, sentinel events | 2 Comments »

The Medical “Do Not Use” Acronym List

Posted on October 17, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Joint Commission Abbreviations Not Used

By Staff Reporters

In May 2005, The Joint Commission first affirmed its “do not use” list of abbreviations. The list was originally created in 2004 by The Joint Commission as part of the requirements for meeting National Patient Safety Goal Requirement 2B [Standardize a list of abbreviations, acronyms and symbols that are not to be used throughout the organization].

Link: http://www.jointcommission.org/PatientSafety/DoNotUseList/

Official List [Updated 3/5/09]

Link: http://www.jointcommission.org/NR/rdonlyres/2329F8F5-6EC5-4E21-B932-54B2B7D53F00/0/dnu_list.pdf

Assessment

In the era of twitter and other text messaging abbreviations, the list is similar to “never-events” and related conditions frequently discussed on this ME-P.

More info: https://healthcarefinancials.wordpress.com/2008/01/16/never-event-payment-trend-continues/

Conclusion

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Filed under: "Doctors Only", Glossary Terms, Quality Initiatives | Tagged: do not use abbreviations, JCAHO, Joint Commission, National Patient Safety Goal Requirement 2B | Leave a comment »

OSHA Medical Record Keeping Standards

Posted on October 16, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

On the Recording – Reporting of Occupational Injuries and Illness [29 CFR 1904]

By Pati Trites; MPA, CHBC and CPC

In this era of eHRs, and eMRs, it is vital to understand how OSHAs Recording and Reporting of Occupational Injuries and Illnesses Standard [29 C.F.R. 1904 – also known as the Recordkeeping Standard] requires employers to record & report work-related fatalities, injuries and illnesses www.HealthcareFinancials.com

Exemptions

For example, in January 2001, OSHA provided for a partial exemption from this Standard for many industries including: Offices & Clinics of Medical Doctors, Offices and Clinics of Dentists, Offices of Osteopathic, Offices of Other Health Practitioners, Medical and Dental Laboratories, and Health and Allied Services, Not Elsewhere Classified [1].

The exemption applies as long as the above-stated employers do not have at least one of the following events occur:

any workplace incident that results in a fatality; or
the hospitalization of three or more employees (example: a malfunctioning heat exchanger on a furnace causes carbon monoxide poisoning to the employees. If three or more must be hospitalized, then the exemption is lost for the calendar year).

If either of these two events occurs then the practice must comply with the reporting requirements of this Standard. Again, each employer who is physically located in one of the 26 states that has its own OSHA must follow state requirements if they are stricter.

Fatality or Hospitalization

In the event of a workplace fatality or an incident that causes the hospitalization of three or more employees, the employer must notify OSHA’s Area Office nearest to the site of the incident either in person or by phone. Notification can also be made by calling the OSHA toll-free central telephone number, 1-800-321-OSHA (1-800-321-6742). This notification must be accomplished within eight hours of the occurrence [2].

OSHA Form 330

Although the likelihood of either of these occurrences taking place is slight, it may be prudent to maintain records that comply with the OSHA Recordkeeping Standard in the event the practice’s partial exemption is lost during a calendar year. Keeping adequate records includes maintaining an OSHA Form 300, which is a log of the following events: days away from work, restricted work or transfer to another job, medical treatment beyond first aid, loss of consciousness, and a significant injury or illness diagnosed by a physician or other licensed healthcare professional.

OSHA Form 330-A

If the practice maintains its partial exemption throughout the calendar year, nothing further needs to be done. But if the practice loses its partial exemption this form must be used to complete a second OSHA form, Form 300A, the annual summary. The employer must post a copy of Form 300A in each practice location (if there are multiple locations) in a conspicuous place or places where notices to employees are customarily posted. The employer must also ensure that the posted annual summary is not altered, defaced, or covered by other material. The Form 300A remains posted from February 1 through April 30 of the calendar year following the year of data collection [3]. In other words, for all records kept in 2005, Form 300A would be posted from February 1, 2006, through April 30, 2006, and so on.

Assessment

An additional recordkeeping requirement for healthcare entities is established in the Bloodborne Pathogen Standard, wherein the Sharps Injury Log must be maintained by any employer who must comply with the Recordkeeping Standard. If the employer loses his or her partial exemption during the year, then there is an obligation to complete and maintain the Sharps Injury Log. Again, this is a form that probably should be maintained by all healthcare organizations just in case the partial exemption is lost in any particular year.

Conclusion

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1. 29 C.F.R. 1904 Subpart B Appendix A.

2. 29 C.F.R. 1904.39.

3. 29 C.F.R. 1904.32.

Filed under: "Doctors Only", Health Law & Policy, Practice Management, Professional Liability, Quality Initiatives | Tagged: 29 CFR 1904, EHRs, EMRs, OSHA, OSHA Form 330, OSHA From 330A, Pati Trites, Recording and Reporting of Occupational Injuries and Illnesses Standard, worman's compensation | 1 Comment »

First Annual iMBA, Inc Educational Cruise

Posted on October 16, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Meet, Greet, Lunch and Learn from the Experts

By Ann Miller; RN, MHA

[Executive-Director]

Some time ago, a CPA, CFP® and fellow Certified Medical Planner™ suggested that we hold annual meetings, or education seminars, for all our colleagues. As a nascent organization at the time, this was considered a “pipe dream.” But, it may now become a reality depending on your response. All interested stakeholders are invited.

The Cruise

Currently, we are soliciting interest in a – Princess – Caribbean cruise [Southern] for 2010. This would afford us the opportunity to meet you on both a formal or informal basis. Educational and other activities would then be scheduled, as-needed or requested. Departure from Ft. Lauderdale, Florida. All info subject to change without notice, at this time.

www.CertifiedMedicalPlanner.com

For example, activities could be arranged for CMP™ program credits in health economics and medical management; or simply on an ad-hoc [audit] informational basis. We will also attempt to individualize and accommodate personal situations and professional needs.

Seeking Interest and Input

And so, your thoughts, ideas and comments on this Medical Executive-Post cruise idea and opportunity are appreciated. Please email me your ideas; or contact us for more information with details. Serious inquiries only:

MarcinkoAdvisors@msn.com

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Seeking Sponsors

We are also seeking sponsors for this cruise, and other iMBA corporate engagements.

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Participating versus Non-Participating Doctors

Posted on October 15, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding Medicare Medical Payment Schemes

By Staff Reporters

www.HealthcareFinancials.com

As of 1992, Medicare invoices are paid per resource-based relative value unit (RBRVU), and according to the lesser of the actual billed charges or the fee schedule amount. But, there are two types of medical providers: 1. Doctors who accept Medicare assignment only bill the patient for the co-payment, which is usually 20%. 2. Doctors who do not accept Medicare assignment are offered a lower fee schedule of 95% of the approved schedule, which is a 115% maximum fee limit of the approved schedule.

Example:

A participating physician’s approved fee schedule charge of $100 would yield $80 from Medicare and $20 from the patient. A non-participating (Non-Par) doctor with charges of $200, and with an approved fee schedule of $100, would yield: $109.25 = (.95 X $100) X 1.15 entirely from the patient.

If the Non-Par doctor selects payment type on a case-by-case basis, Medicare will pay its portion of the bill directly to the physician, but the doctor must accept the Non-Par fee schedule.

Assessment

Continuing our example yields: (.8 X $95) plus the patient’s co-payment of (.2 X $95), OR $76 plus $19 = $95.00.

Conclusion

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Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: medicare, medicare providers, non-participating medicare physician, Participating medicare physician, RBRVU, resource-based relative value unit | 1 Comment »

New ME-P Features in Review

Posted on October 15, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Quick Links to Innovation and Integration

By Ann Miller; RN, MHA

[Executive Director]

Recently we have added several new features to the Medical Executive-Post. And so, below is an aggregated and integrated list, with hot links, for your easy access and review.

We trust you will use, and enjoy them, frequently.

ME-P Features:

1. Our photo sharing feature called ME-Pr:

Link: https://healthcarefinancials.wordpress.com/2009/10/01/me-pr-photo-sharing-examples-2009/

2. ME-P widget for blogs, wikis and websites.

Link: https://healthcarefinancials.wordpress.com/2009/10/10/get-the-new-me-p-widget/

3. Media advisory service for the ME-P.

Link: https://healthcarefinancials.wordpress.com/2009/10/11/me-p-media-advisory-services/

4. Consultations and referal service.

Link: https://healthcarefinancials.wordpress.com/schedule-a-consultation/

5. Speaker’s bureau.

Link: https://healthcarefinancials.wordpress.com/dr-david-marcinko%e2%80%99s-bookings/

6. Annual doctor’s survey.

Link: https://healthcarefinancials.wordpress.com/media-kit/participate-in-annual-survey/

7. Textbooks, dictionaries and printed handbooks.

Link: https://healthcarefinancials.wordpress.com/2009/10/02/imba-inc-books-texts-and-dictionaries/

8. ME-P blog rating and ranking system.

Link: https://healthcarefinancials.wordpress.com/2009/10/06/our-new-me-p-rating-system/

9. Editorial complaints and publishing corrections.

Link: https://healthcarefinancials.wordpress.com/2009/10/07/me-p-complaints-corrections/

10. Videos and graphic slideshows.

Link: https://healthcarefinancials.wordpress.com/category/videos/

Assessment

Give em’ a click, and tell us what you think?

Channel Surfing: Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register.

Conclusion

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

DICTIONARIES: http://www.springerpub.com/Search/marcinko
PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
BLOG: www.MedicalExecutivePost.com
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

Filed under: Book Reviews, iMBA, Inc., Information Technology, Marketing & Advertising, Media Mentions and PR, Recommended Books, Sponsors, Videos | Leave a comment »

Our Recent Experience with CFP® Mark Utility

Posted on October 14, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Certification Falling from Grace – Deserved or Not?

By Dr. David Edward Marcinko; MBA, CMP™

[Publisher-in-Chief]

The Premise

In the summer [2008], we sent a random email blast to the first 200 Certified Financial Planners® on our list-serve. These were folks who had previously contacted us, and/or purchased our textbooks, handbooks, tools and/or dictionaries that assist accountants, financial advisors, attorneys, medical management consultants and all those working to assist physicians and medical professionals on business and economics matters.

The “Straw-Poll” Query

Our email blast asked the simple question:

“Did you ever voluntarily resign your license to use the CFP® mark?”

First Round Results

We received four positive responses [2%]. We then followed up to learn that 2 of the 4 were CPAs, one was a CFA and another was an MBA. Now, what do these results signify – probably nothing – or maybe an emerging trend?

Repeat

So, last summer [2009], after the continuing Wall Street collapse, and the Somnath Basu PhD article on “CFP Trust” in Financial Advisor magazine and this blog, we sent out a follow-up email to the exact same 200 Certified Financial Planners® as before; but carved-out and replaced the 4 CFPs who had resigned the mark, with 4 others.

Link: I Jealously “Shake my Fist” at Somnath Basu PhD

This time we asked the question:

“Have you recently considered allowing your CFP mark to lapse; or resigning it?”

Second Round Results

This time we received exactly eight positive replies [4%] or double the number from the first round. One CFP® said:

“I am rethinking my entire business and marketing philosophy. This includes separation from any taint left over from recent industry scandals – and yes – even including my CFP® mark”

http://www.CertifiedMedicalPlanner.org

Assessment

This little experiment was not statistically significant by any means. And, again it probably is indicative of nothing. Yet, these types of questions must be boldly asked today; even if they were not even timidly asked yesterday.

Nevertheless, cited plausible reasons for the increased negative CFP® mark response may be:

CFP BoS lacks modernity and membership alliance.
SEC mismanagement.
NASD/FINRA impotence.
Wall Street greed.
Lack of true fiduciary accountability.
Client anger and public distrust.
Advisor frustration at lost income.
College for Financial Planning and American College credibility.
ME-P operations in the medical niche advisory space.
CFP® mark and related industry certification taint.
Alternative degrees and available designations.
Rise of RIAs and the fiduciary CMP™ mark for healthcare specificity.
Resigning [doing] and considering [thinking] are not equivalent;
etc, etc.

It is interesting to note that no CFP® resigned their mark who did not hold either another graduate degree [MBA, MSFS, MA, MS, PhD], or more rigorous industry [CFA and CPA] certification.

Assessment

So, is CFP mark allegiance just a union-like mentality of “united we stand – divided we fall”, by those with little to no gravitation pull of their own – or something else; ie., industry group think? You decide; and do tell us what you think.

Note: I am the founder of the CMP™ online education and certification program for financial advisors and consultants interested in the health economics, finance and medical practice management space, and a former [resigned] certified financial planner www.CertifiedMedicalPlanner.org

Update 2013:

Conclusion

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

DICTIONARIES: http://www.springerpub.com/Search/marcinko
PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
BLOG: www.MedicalExecutivePost.com
FINANCE:Financial Planning for Physicians and Advisors
INSURANCE:Risk Management and Insurance Strategies for Physicians and Advisors

Filed under: "Advisors Only", Career Development, Ethics, Financial Planning, iMBA, Inc., Marketing & Advertising, Media Mentions and PR, Op-Editorials, Research & Development, Surveys and Voting | Tagged: certified financial planner, certified medical planner, CFA, CFP, CMP, CPA, david marcinko, DDS, Financial Adviosr, financial fiduciary, financial planning association, FINR, FPA, investment advisor, MBA, MD, PhD, registered invesment advisor, Registered Rep, RIA, SEC, Somnath Basu | 17 Comments »

Become a Published Print Author with Us

Posted on October 13, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

The Business of Medical Practice [3^rd Edition]

By Hope Rachel Hetico RN, MHA, CMP™

[Managing Editor]

Dear Colleagues and ME-P Champions

As you may know, we are commencing work on the third edition of our best selling book: The Business of Medical Practice

TOC 1st: http://www.amazon.com/Business-Medical-Practice-Maximizing-Doctors/dp/0826113117/ref=sr_1_8?ie=UTF8&s=books&qid=1231111232&sr=1-8

TOC 2nd: http://www.springerpub.com/prod.aspx?prod_id=23759

Invitation to Contribute

Accordingly, we would be honored for you to consider contributing a new or revised chapter, in your area of expertise, for a low-effort but high-yield contribution. Our goal is to help physician colleagues and management executives benefit from nationally known experts, as an essential platform for their success in the healthcare industry. Many topics are still available: [health accounting; law, policy and administration; Medicare fraud and abuse; cloud computing; and finance and economics, etc].

Support Always Available

Editorial support is available, and you would enjoy increasing subject-matter notoriety, exposure and public relations in an erudite and credible fashion. As a reader, or preferably a subscriber to the ME-P, your synergy in this space may be ideal. Time line for submission of a 5,000-7,500 word chapter is ample, and in a prose writing style that is “wide, not deep.”

A Health 2.0 Initiative

And, be sure to address health 2.0 modernity. Update chapters from the second edition are also available.

Definition: https://healthcarefinancials.wordpress.com/2008/09/12/emerging-healthcare-20-initiatives

Assessment

Please contact me for more details [MarcinkoAdvisors@msn.com], if interested [770.448.0769]. A best selling-book is rare; while a third-edition volume even more so. Join us in this project. Regardless, we trust you will remain apostles of our core ME-P vision, “uniting medical mission and financial profit margin”, and promoting it whenever possible.

Front Matter Link: frontmatter1advancedbusinessmedicine

Channel Surfing the ME-P

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Filed under: "Advisors Only", "Doctors Only", Book Reviews, Breaking News, Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, iMBA, Inc., Information Technology, Managed Care, Media Mentions and PR, Practice Management, Professional Liability, Quality Initiatives, Recommended Books | Tagged: acountants, american medical writers association, authors, contributors, doctors, experts, JDs, journalists, lawyers, managers, MBAs, MDs, PhDs, publishers, writers | Leave a comment »

Health Insurance Prospective Payment System [HIPPS] Grouper Software and Documentation Codes

Posted on October 13, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Enter the CMPs

Understanding Home Health Prospective Payment System (HH PPS) Case-Mix Refinement Changes

[By Staff Reporters]

A few operational changes were made to the V-Code Table in the updated version of the ICD-9-CM Official Guidelines for Coding and Reporting, including:

HH PPS grouper software and documentation (effective October 1, 2006): Contains Version 1.06 of the home health PPS case mix grouper software codes, which accommodates changes in OASIS reporting requirements effective 10/1/2006. Also includes the grouper coding logic (pseudo-code), test records, and demonstration programs.
HH Consolidated Billing Master Code List: An Excel workbook file containing complete lists of all codes ever subject to consolidated billing provision of HH PPS. A master list worksheet shows the dates each code included and excluded from consolidated billing editing on claims, with associated CMS transmittal references. The master list also associates each code with any related predecessor and successor codes. Supplemental worksheets show the list of included codes for each CMS transmittal to date.

Example:

The national unadjusted (wage index) per-visit rate payments paid per code were: [a] home health aide $44.37; [b] medical social service $153.55; [c] occupational therapy $105.44; [d] skilled nursing care $95.79 and [e] speech pathology $113.81.

Assessment

Link: http://www.cms.hhs.gov/homehealthpps/downloads/transitionepisodesqa.pdf

Link: http://www.cms.hhs.gov/HomeHealthPPS/downloads/GuidanceforHHAs_Posting_12-18-2007.pdf

Conclusion

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Filed under: "Doctors Only", Career Development, CMP Program, Health Insurance, Practice Management, Recommended Books | Tagged: CMS, HH Consolidated Billing Master Code List, HH PPS, HIPPS, Home Health Prospective Payment System, ICD-9-CM, medical billing, OASIS, V-codes | 3 Comments »

Launching the ME-P Tutoring Service

Posted on October 12, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Seeking Academic Assistance in Health Economics, Finance and Administration

By Ann Miller; RN, MHA

[Executive-Director]

Enhanced knowledge and a better understanding of medical economics – healthcare finance and medical management – is at present central to more effective policy – making for better health services. We can provide a basic understanding of the key issues in health economics. You can either go online for tutoring or get your homework augmented/reviewed/completed through our assignment help service.

Email Based Homework or Employment Assignment Help in Health Economics

We may be the best resource to get answers to all your doubts regarding health economics, approaches to healthcare finance, medical practice management and other healthcare policy and administration specializations. You can submit your work, homework or assignments to us and we will make sure that you get the answers you need which are timely and also cost effective. Our tutors are available round the clock to help you out in any way with health economics and related topics.

Live Online Tutor Help for Health Economics

We have a vast panel of experienced economics tutors who specialize in health economics and can explain the different theories to you effectively. You can also interact directly with our tutors for a one-to-one session and get answers to all your problems in other specializations in healthcare finance and medical management. Our tutors will make sure that you achieve the highest grades for your economics assignments.

Assessment

Ideal for undergraduate and graduate students, practice managers, healthcare administrators, nurses, physician executives and employed laymen. Please contact us for competitive rates and premium prices for this personalize educational service: MarcinkoAdvisors@msn.com

Link: https://healthcarefinancials.wordpress.com/schedule-a-consultation/

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: "Advisors Only", "Ask-an-Advisor", Breaking News, Career Development, CMP Program, Media Mentions and PR, Nominations Sought, Research & Development | Tagged: andragogy, CMP www.CertifiedMedicalPlanner.com, heutagogy, teaching, tutorials, tutoring | 1 Comment »

Overview of Hospital System IT Architectures

Posted on October 12, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding a Variety of Configurations

By Brent Metfessel; MD, MIS

www.HealthcareFinancials.com

Hospitals can use a variety of configurations for HIS implementation depending on business needs and budgetary constraints. Staffing needed for these systems can range from a few full-time equivalents (FTEs) per 100 beds for very basic off-site processing systems to 15 or more FTEs per 100 beds for sophisticated systems that attempt to combine several architectures into one system (e.g., combination of client-server systems with mainframe processing). Resource use and customizability tend to vary in tandem; the greater the flexibility of the system to meet unique user needs, the greater the cost outlay for capital and/or additional FTEs.

Basic Systems

The basic system architecture possibilities are as follows:

Off-site (remote) processing: In this case the hospital contracts with a vendor external to the hospital. The hospital sends data over to the vendor site where the actual processing takes place. When processing is complete, the vendor sends the data back to the hospital, usually in electronic form.
Turnkey systems: A vendor provides the hospital with systems that are “pre-packaged” so that hospital-based system development is minimal. Limited customization of the system is possible using systems analysts or programmers.
Mainframe systems: Most applicable to large hospitals, this configuration is highly centralized. A large and powerful computer performs basically all the information processing for the institution and connects to multiple terminals that communicate with the mainframe to display the information at the user sites. Hospital IT departments usually use in-house programmers to modify the core operating systems or applications programs such as billing and scheduling programs.
Client-server systems: In this configuration one or more “repository” computers exist, known as “servers,” that store large amounts of data and perform limited processing. Communicating with the server(s) are client workstations that perform much of the data processing and often have graphical user interfaces (GUIs) for ease of use. Both customizability and resource use is high, depending on the desired sophistication. Many clinical information systems that process data directly related to patient care use this configuration.

For instance, the Veterans Health Administration, which has implemented what is likely the largest integrated healthcare information system in the United States, uses client-server architecture. Known as the Veterans Health Information Systems and Technology Architecture (VistA), this system provides technology infrastructure to about 1,300 care facilities, including hospitals and medical centers, outpatient facilities, and long-term care centers. VistA utilizes a client-server architecture that links together workstations and personal computers using software that is accessed via a graphical user interface.

Overall, for hospitals that have the financial and manpower resources for a significant investment in IT, client-server architectures are the fastest-growing and typically the most preferred of the system architectures, due in large part to their local adaptability and flexibility to meet changing hospital and medical center needs.

Assessment

The above architectures are broad categories. Modifications and combinations of the above also exist, such as the use of client-server technology with mainframe systems and the addition of wireless technology and personal digital assistants (PDAs) to supplement the core computing functionality.

In considering the optimal architecture for a hospital, management needs to take into account factors such as size of the institution, desired sophistication of the application, IT budget, and anticipated level of user community involvement.

Conclusion

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Information Technology, Research & Development | Tagged: Brent Metfessel, EHRs, EMRs, HIS, HIT, Veterans Health Administration, Veterans Health Information Systems and Technology Architecture, VistA | Leave a comment »

ME-P Media Advisory Services

Posted on October 11, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Assisting our Media Colleagues and Target Professional Markets

By Ann Miller; RN, MHA

[Executive Director]

Welcome to the Medical Executive-Post. Below is a list of the services we provide to the media:

1. Certified Medical Planners™ available for interviews or online program matriculation information and consideration www.CertifiedMedicalPlanner.com. Our CMPs™ may be available for interviews or short comments on medical management issues or health economic trends. We do our best to arrange for quick interviews to accommodate your deadlines. Current program matriculants may also available in some cases.

2. Reseach and Trends on Medical Economics and Modern Practice Management Issues: www.MedicalBusinessAdvisors.com. We conduct ongoing research studies on healthcare financial issues, and also publish regular medical management research reports. Some research reports are available free of charge upon request; others for a modest surcharge.

3. Pre-packaged information and content, visit: www.HealthcareFinancials.com.

4. Seminars and Speaking Engagements: www.HealthDictionarySeries.com.

5. Free ME-P blog widget: https://healthcarefinancials.wordpress.com/2009/10/10/get-the-new-me-p-widget/

Assessment

Dr. David Edward Marcinko, our Publisher-in-Chief, is also usually available to the traditional, electronic or new-wave media, as needed. We have a library of over 5,000 premium content pieces that you can integrate into your stories in sidebars, charts, graphs or pieces that can be published as standalone articles within your publication. To contact us about using any of the above services, please e-mail us at: MarcinkoAdvisors@msn.com

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: "Advisors Only", "Doctors Only", Book Reviews, iMBA, Inc., Marketing & Advertising, Media Mentions and PR | Leave a comment »

Healthcare Reform Articles from Kevin Pho MD

Posted on October 11, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Aggregating Content – Disseminating Knowledge

By Ann Miller; RN, MHA

[Executive Director]

Here are five interesting new articles on the healthcare reform debates from colleauge Kevin Pho, MD.

Kevin practices at the Nashua Medical Group near the Massachusetts border. He is board certified in internal medicine and provides both comprehensive adult and primary care services.

Related posts:

Give them a click, read em’ and comment now.

Assessment

Remember, how we put things together – sets us apart!

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Op-Editorials, Research & Development | Tagged: barack obama, DPM, Health Insurance, healthcare reform, kevin pho, Max Baucus, MD, pho, podiatrist, podiatry, primary care, Uwe Reinhardt | 1 Comment »

Get the New ME-P Widget

Posted on October 10, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Spreading ME-P Content and Informaton with our Gift to You

By Ann Miller; RN, MHA

[Executive Director]

As someone who reads far too many medical, healthcare finance, political and health economics blogs on a daily basis, I decided to compile our ME-P blog RSS feeds into a nice, clean widget which you can quickly cut and paste into your own blog, wike or website.

Why Would you Want this Widget?

Easily keep up with latest ME-P posts and comments on more than 50 topical channels.
Spread goodwill throughout the blogo-sphere when you send visitors to other blogs.

Assessment

If you’re not tech savvy, we’ve done the hard work – just cut and paste and you’re done. Please e-mail me if you have any questions.

Get our Widget: Get this widget!

Channel Surfing

Get more from www.BlogSurfer.US Be sure to visit our other topic channels too! Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: "Advisors Only", "Doctors Only", CMP Program, Media Mentions and PR, Sponsors | Tagged: Financial Planning, health 2.0, Health Economics, Healthcare Finance, healthcare politics, healthcare reform, ME-P, medical executive post, widgets | Leave a comment »

Why Most Financial Advisors Won’t be Fiduciaries

Posted on October 9, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Industry Groups Differ On Fiduciary Standard

By Staff Reporters

The House Financial Services Committee recently heard two takes on the fiduciary standard – investment advisors who want it applied to broker dealers – and broker-dealers who want to apply a universal standard of care to all advisors, including investment advisors.

Assessment

And so, we encourage all ME-P subscribers to read industry trade magazines [aka ”trade rags”] to learn how some financial advisors fleece physicians and other investors by not being fiduciaries; with sincere apologies to all honest and hard working fiduciary advisors. IOW: Follow the money.

Link: http://www.financialadvisormagazine.com/fa-news/4532-industry-groups-differ-on-fiduciary-standard-.html

www.CertifiedMedicalPlanner.com

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: "Advisors Only", CMP Program, Ethics, Financial Planning, Investing, Point-Counter Point | Tagged: broker-dealers, certified financial planner, certified medical planner, CFP, CMP, fiduciary financial advisors, financial advisors, investment advisors, registered investment advisors, RIA, www.CertifiedMedicalPlanners.com | 16 Comments »

A Personal Health Records [PHRs] Video

Posted on October 9, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Where We’ve Been … Where We’re Going!

By John Moore

Channel Surfing

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

DICTIONARIES: http://www.springerpub.com/Search/marcinko
PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
BLOG: www.MedicalExecutivePost.com
FINANCE:Financial Planning for Physicians and Advisors
INSURANCE:Risk Management and Insurance Strategies for Physicians and Advisors

Filed under: Career Development, Glossary Terms, Health Law & Policy, Information Technology, Research & Development, Videos | Tagged: EHRs, elecronic health records, electronic medical records, EMRs, health information technology, HIT video, PHRs | 3 Comments »

Take the Hospital Endowment Fund Management Challenge!

Posted on October 8, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Calling all Financial Advisors – Are You CMP™ Worthy?

By Staff Reporters

After conducting a comprehensive fundraising program, the Hoowa Medical Center received initial gifts of $50 million to establish an endowment. Its status as the community’s only trauma center and neonatal intensive care unit causes it to provide substantial amounts of unreimbursed care every year. This phenomenon, together with the declining reimbursements and an estimated 6% increase in operating costs, leaves the Center with a budgeted cash shortfall of $4 million next fiscal year. Although the new endowment’s funds are available to cover such operating shortfalls, the donors also expect their gifts to provide perpetual support for a leading-edge medical institution.

The Treasurer

Bill, the Center’s treasurer, has been appointed to supervise the day-to-day operations of the endowment. One of his initial successes was convincing his investment committee to retain a consultant who specializes in managing endowment investments. The consultant has recommended a portfolio that is expected to generate long-term investment returns of approximately 10%. The allocation reflects the consultant’s belief that endowments should generally have long-term investment horizons. This belief results in an allocation that has a significant equity bias. Achieving the anticipated long-term rate of returns would allow the endowment to transfer sufficient funds to the operating accounts to cover the next year’s anticipated deficit. However, this portfolio allocation carries risk of principal loss as well as risk that the returns will be positive but somewhat less than anticipated. In fact, Bill’s analysis suggests that the allocation could easily generate a return ranging from a 5% loss to a 25% gain over the following year.

The Committee

Although the committee authorized Bill to hire the consultant, he knows that he will have some difficulty selling the allocation recommendation to his committee members. In particular, he has two polarizing committee members around whom other committee members tend to organize into factions. John, a wealthy benefactor whose substantial inheritances allow him to support pet causes such as the Center, believes that a more conservative allocation that allows the endowment to preserve principal is the wisest course. Although such a portfolio would likely generate a lower long-term return, John believes that this approach more closely represents the donors’ goal that the endowment provide a reliable and lasting source of support to the Center. For this committee faction, Bill hopes to use MVO to illustrate the ability of diversification to minimize overall portfolio risk while simultaneously increasing returns. He also plans to share the results of the MCS stress testing he performed suggesting that the alternative allocation desired by these “conservative” members of his committee would likely cause the endowment to run out of money within 20 to 25 years.

The Polarizer

Another polarizing figure on Bill’s committee is Marcie, an entrepreneur who took enormous risks but succeeded in taking her software company public in a transaction that netted her millions. She and other like-minded committee members enthusiastically subscribe to the “long-term” mantra and believe that the endowment can afford the 8% payout ratio necessary to fund next year’s projected deficit. Marcie believes that the excess of the anticipated long-term rate of return over the next year’s operating deficit still provides some cushion against temporary market declines. Bill is certain that Marcie will focus on the upside performance potential. Marcie will also argue that, in any event, additional alternative investments could be used as necessary to increase the portfolio’s long-term rate of return. Bill has prepared a comparative analysis of payout policies illustrating the potential impact of portfolio fluctuations on the sustainability of future payout levels. Bill is also concerned that Marcie and her supporters may not fully understand some of the trade-offs inherent in certain of the alternative investment vehicles to which they desire to increase the allocated funds.

Key Issues:

1. Given the factors described in the case study (anticipated long-term investment return, anticipated inflation rate, and operating deficit) how should Bill recommend compromise with respect to maximum sustainable payout rates?

2. How should Bill incorporate the following items into his risk management strategy?

a. educating the committee regarding types of risk affecting individual investments, classes, and the entire portfolio;

b. measuring risk and volatility;

c. provisions for periodic portfolio rebalancing;

d. using tactical asset allocation; and,

e. developing and implementing a contingency plan.

3) What additional steps should Bill take to form a group consensus regarding the appropriate level of endowment investment risk?

4) What additional elements should Bill add to his presentation to target the concerns of the “conservative” and “aggressive” committee members, respectively?

Assessment

And so, financial advisors, planners and wealth managers; are you up to answering this challenge? We dare you to respond! Visit: www.CertifiedMedicalPlanner.com

Conclusion

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Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Filed under: "Ask-an-Advisor", CMP Program, Financial Planning, Investing, Portfolio Management | Tagged: asset allocation, certified financial planner, Certified Medical Planner™, CFAs, CFPs, endowment fund, financial advisors, financial planners, Portfolio Management, wealth management | 4 Comments »

ME-P Complaints & Corrections

Posted on October 7, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Setting the Record Straight

By Ann Miller RN MHA

[Executive Director]

The Medical Executive-Post is growing, and with your help we will penetrate our market even deeper. And so, in order to maintain the quality publication we envisioned at inception, please contact us with any post concerns and/or commentary corrections you may have.

Assessment

We may not be perfect; but we will strive to set the record straight for our readers and valued ME-P subscribers. All valid e-mails may be published unless you tell us otherwise.

MarcinkoAvisors@msn.com

Conclusion

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Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Filed under: Ethics, Media Mentions and PR, Quality Initiatives | Tagged: blog ethics, Ethics, journalism, medical executive post, publishing ethos, publishing guidelines | 3 Comments »

Why ADA / Intelligent Dental Marketing Failed?

Posted on October 6, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

The ADA is an Incredible Dinosaur

By Darrell K. Pruitt; DDS

As a member of the ADA, I am also a part owner in any business venture the leaders of the organization enter into. I’ve observed the loss of my investment in a business deal because my employees made mistakes. As a business owner, it would be simply irresponsible for me to ignore something like this.

The Embarrassing Story

Do you know what part is missing from this embarrassing story? The ADA has not uttered a word about the ADA/IDM failure… Or, as the ADA Business Enterprise Inc. leaders call it – the ”ADA/idm” failure.

The fact that the two business entities never came to an agreement on what to even call their doomed joint venture reveals a lot about the egos that gummed up the machinery. It’s possible that pride undermined our non-profit/for-profit partnership from the very start. We just don’t know what happened because there are so many possible reasons for this business model to fail. Will loss of ADA members’ investment happen again if the cause is not recognized and eliminated? I think the chances are pretty good that even more embarrassment is on the way. Given the soft environment, it’s only natural.

Over my 27 year career as a dentist, I have met many ADA officials, both employed and elected, on all three levels of the tripartite system of governance – local, state and national. From the topmost quality of character I have witnessed in all but a few politically-empowered and proudly insensitive exceptions, I can assure you that like all major projects of the ADA, the failed ADA/IDM adventure into dental marketing was assembled with nothing but noble intentions and benevolent wishes for ADA members and dental patients – at least from the ADA side. Whether the leaders of the ADA’s new business partner, Intelligent Dental Marketing out of Utah, were dedicated to serving ADA members in a captive market is unlikely. The ADA/IDM business model is sort of like managed care dentistry. When dentists sign contracts that provide them with clients regardless of how they are treated, there is a natural tendency for dentists to become unappreciative of those who pay their bills.

Little Consumer Competition

The ADA allows Americans to experience what socialism is like in markets where there is no competition for consumers: Professionals such as dentists stop trying to please their patients, and IDM stops trying to please dentists. If IDM was a decent company before the business venture with ADA membership, the ADA ruined them with a sweetheart deal that included protecting them from competition, as well as shielding them from complaints by angry ADA members. And like dental patients with preferred provider lists, ADA members noticed the bad treatment. However, complaints were never made transparent even as more ADA members where signing contracts with ADA/IDM. That is unfair and unethical.

Just Google for Complaints

Want to see what an embarrassment in situ looks like? Just Google “CareCredit complaints.” ADA-approved CareCredit/GE has a long history of sweetheart deals like the one they made with ADA leaders. Their trail is always marked by complaints. The ADABEI is selling ADA members’ reputations. I just read ADA reporter James Berry’s article highlighting outgoing ADA President Dr. John S. Findley’s address to the House of Delegates that he gave on Friday. The article is titled, “We built our home on a foundation of science and values: Dr. Findley”

http://www.ada.org/prof/resources/pubs/adanews/adanewsarticle.asp?articleid=3771

One free-standing paragraph in the article caught my attention that perhaps exposes a symptom of the pride and secrecy that surrounds the ADA/IDM disaster. In the middle of the article, James Berry offers this cryptic message that was obviously not meant for all members to understand:

“On the Association itself, the president noted that the ADA has undergone significant change in the past year and a half. As problems were discovered and defined, he said, the leadership acted to resolve them.”

Was the ADA/IDM fiasco one of the problems that was resolved? Did they resolve the problem with CareCredit/GE causing ADA members to be covered by the Red Flags Rule – and not letting members know about it? Did they resolve the problem of data breaches and how they can mean certain bankruptcy for ADA members, even if the members do the right thing?

Possibly

We just don’t know which problems were resolved, but somehow we should feel much better, now that President Findley got the message out to mid-level ADA leaders who probably know exactly what he is referring to. And, by protecting lower caste members from knowing things they don’t need to know, problems are quietly resolved and the profession’s image is preserved. “Image is everything” – ADA/IDM business slogan.

“Findley for the future”- Dr. John S. Findley’s campaign slogan.

Bingo! We have a match.

We should not forget that before IDM leaders got in way over their heads and started doing foolish things like marketing Search Engine Optimization (SEO) talents they lacked, there has not been a dues increase for a couple of years – in part because of the profits that were churned from ADA/IDM purchases ADA members made. I am certain that the ADA Business Enterprise Inc’s failure breaks the hearts of sincere and devoted leaders in the ADA who would have never recommended going outside the ADA’s Mission Statement had ADA employees been transparent with them. The officials of IDM couldn’t care less. Their part of the venture is much easier to dissolve for the Utah businessmen. They just picked up and walked away. However, the ADA officials have a fiduciary responsibility to members who trusted them. Once again, virtually all of the ADA leaders are just like you and me. Some just got in too deep on our behalf and couldn’t shut the mistake down before members got needlessly hurt.

Officials in other businesses the size of the ADA are held accountable for their mistakes and are not afforded the opportunity to filter communications with the owners because of image concerns. This kind of sweetheart deal for business executives, most of who come from Delta Dental, UnitedHealthcare or both, as in the case of the new executive director, Dr. Kathleen T. O’Loughlan, occurs only in the ADA and to a lesser extent in the US government and dental insurance industry.

Assessment

The state of the ADA is not nearly as rosy as Dr. Findley would have us believe. I think we have all seen authoritarian leaders re-write history. The ADA is an incredible dinosaur.Business can be ugly in the highly competitive land of the free. If businesses don’t take risks, we cannot move forward. For that reason, mistakes are expected. But never forget. Owners expect to be told about them.

Channel Surfing the ME-P

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Filed under: Career Development, Ethics, Managed Care, Marketing & Advertising, Op-Editorials, Practice Management, Pruitt's Platform | Tagged: ADA, ADA/IDM, ADABEI, CareCredit, Darrell Pruitt, DDS, delta dental, DMD, doctoroogle.com, Dr. John S. Findley, Dr. Kathleen T. O’Loughlan, IDM, Intelligent Dental Marketing, James Berry, UnitedHealthcare | 11 Comments »

Our New ME-P Rating System

Posted on October 6, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Drilling Down on our Rating System – Eyeing your Rankings

By Ann Miller; RN, MHA

[Executive Director]

The direct rating of posts is now available on the ME-P. This enables you to rate each post individually using the traditional five star system [one star = very poor post – five stars = excellent post]. To get started, just look for the five red-star ratings system at the bottom of each post. Then, Read * Submit * Share * Rank * Publish * Prosper.

Assessment

Until now, ME-P readers were only able to indirectly rate each post. These ratings appear on the left home page side-bar, under the heading Engagement Rankings, and are updated hourly. It was a pretty decent system.

But, with room for only 15 rankings, those posts thereafter were never prioritized or appreciated. So now, these worthy posts – and contributing authors – can still be appreciated by their fans. You can even rate this new 5-star rating system feature; below!

Conclusion

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Filed under: Breaking News, Media Mentions and PR, Quality Initiatives, Surveys and Voting | Tagged: rankings, ratings | Leave a comment »

The Trugman Accounting Report

Posted on October 5, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

To our Valued Friends and ME-P Colleagues

By Linda Trugman; CPA, CVA

We hope this ME-P e-mail finds you happy and healthy! We have attached our most recent Fall newsletter for your perusal and hope that you will find something of interest in it.

Assessment

Read the Fall 2009 report here.

Link: TVA-4

Conclusion

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Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Filed under: Accounting, Alerts Sign-Up, Health Law & Policy, Monthly Reports, Taxation | Leave a comment »

Off-Road Touring with Dr. Marcinko [Final Part 2009]

Posted on October 5, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Hello Everyone and Thank You!

By Ann Miller; RN, MHA

To all of you who made it to one of our venues for an Off Road Tour segment with our Publisher Dr. David E. Marcinko, or to those who just read his posts, we wanted to thank you for your support and for supporting each other!

Our mission – is to bridge the gap between financial planning and medical practice management, and to serve as a networking resource for medical, managerial and financial advisory colleagues who possess the ethics and intellect to serve in a fiduciary capacity.

The Next Step

Ready for the next step? Just visit www.HealthcareFinancials.com and subscribe to the Journal of Financial Management Strategies, to create a roadmap to success for your healthcare organization.

Thanks with a Shout-Out

Finally; we give a hearty shout-out to www.MedicalBusinessAdvisors.com who made the book “signing and opining” tour possible. We are so proud of our partnership with an institute whose team learning approach creates such rich success for students, both in the virtual and real-world classroom and in their personal and professional lives www.CertifiedMedicalPlanner.com

Online Certified Medical Planner Program

Interested in becoming a Certified Medical Planner ™ or to learn about how your broker-dealer, advisory firm or company can build an educational partnership with us? Call me at 770.448.0769 (9am – 5pm EST).

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Assessment

Thanks so much for your interest in our Summer 2009 tour, and the ME-P. We hope it, and all our books, texts, dictionaries, products and educational formats serve you well!

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Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: CMP Program, Sponsors, Touring with Marcinko | Tagged: certified medical planner, CFA, CFP, CMP, david marcinko, www.certifiedmedicalplanner.com, www.healthcarefinancials.com, www.healthdictionaryseries.com, www.medicalbusinessadvisors.com | Leave a comment »

Ask an Advisor about “Meaningful-Use”

Posted on October 4, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Do dentists qualify for “meaningful use” incentives under ARRA?

By Ann Miller; RN, MHA

[Executive Director]

A simple and direct query asked by an ME-P subscriber.

Channel Surfing

Conclusion

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Filed under: "Doctors Only", Information Technology | Tagged: ARRA, DDS, dentists, EHRs, EMRs, HIPAA, Information Technology, IT, meaningful use, PHIs | 13 Comments »

Take the Healthcare Leadership Survey

Posted on October 4, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Tracking Claims, Real-World Solutions

Staff Reporters

Dear Subscribers

Next year is the deadline for all Medicare healthcare providers to enroll in the Recovery Audit Contractor program. Due to national implementation, the market has become flooded with products to track claims, provide easy audit solutions, as well as aggregate data to predict which claims are at risk for recoupment.

And so, we have been asked to help facilitate this survey.

Past Surveys

According to our past survey, over 90 percent of respondents listed claim denials as a major problem for them. The editorial staff of Healthcare Reimbursement Monitor wants to know what steps your organization is taking to ensure the protection of claims through our latest query Healthcare Leadership Survey: Tracking Claims, Real-World Solutions

Assessment

What impact has the RAC program had on your organization? Are claims tracking software a necessity for today’s healthcare business? What type of claims solution does your organization need?

The Survey

Please take a quick moment to complete the short survey to allow your colleagues insight into best practices and solutions you have experienced, or to warn the community of which tools are simply excess. Share your experiences with the community by participating in the survey.

Link: www.themcic.com/claims.htm

Sincerely
Healthcare Reimbursement Monitor
Health Resources Publishing
1913 Atlantic Avenue, Suite 200, Manasquan, NJ 08736
phone: 800-516-4343
fax: 888-329-6242

Assessment

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: "Doctors Only", Research & Development, Sponsors | Tagged: Healthcare Reimbursement Monitor, leadership, medicare, RAC program, Recovery Audit Contractor | Leave a comment »

Update on the Medicare Oriented Universe

Posted on October 3, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

October Plan Management Navigator

By Douglas B. Sherlock; MBA, CFA

Please find attached the October 2009 edition of our Plan Management Navigator.

Medicare-Orientated Universe

In this month’s edition, we update ME-P and all readers on the results for the Medicare-Oriented universe, and provide summary functional area breakouts as well as expense trends. Holding constant the universe, and the product mix offered, administrative expense growth was higher than last year.

For example, eleven Medicare-Oriented plans serving 1.1 million beneficiaries participated in this year’s benchmarking study. In addition, the results from Blue Cross Blue Shield Plans and Independent / Provider-Sponsored Plans are also summarized. With these additional plans, we provide selected information on health plans serving 2.1 million Medicare beneficiaries, comprising approximately 22% of Medicare Advantage members during 2008.

Assessment

The analysis is based on materials from our Sherlock Expense Evaluation Report (SEER) for the Medicare-Oriented Plans. Additional information about SEER is available at www.sherlockco.com/seer.shtml or by contacting me.

Link: Navigator 10-09

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Breaking News, Health Economics, Monthly Reports, Research & Development | Tagged: Blue Cross Blue Shield Plans, Douglas B. Sherlock, Medicare Advantage, Plan Management Navigator, SEER, Sherlock Expense Evaluation Report, www.Sherlockco.com | 2 Comments »

About our Archives and Search Features

Posted on October 3, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Seeking Specific Topical Material

By Ann Miller; RN, MHA

[Executive Director]

We have more than 50 topic channels on the ME-P and more are sure to follow. So, feel free to browse the archives. They are open to everyone. And, if you find something that triggers your hot button, feel free to post a comment. We love feedback. You can send in articles for publication consideration, too.

Registration

You do have to be a registered with WordPress and the ME-P to comment. If you have never registered at any wordpress.com site, just click the light blue “join-our-mailing list” button below to subscribe, and follow the instructions. It’s quite easy and when you are done, you can comment here, or on any wordpress.com blog as long as you are logged in.

Assessment

Happy reading as we look forward to your comments. Remember to use the “search” box to drill-down your hunt for granular topicality even further.

Channel Surfing

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Alerts Sign-Up, iMBA, Inc., Sponsors | Tagged: ME-P, register, search, subscribe, wordpress | Leave a comment »

Ask an Advisor about Financial Seminars

Posted on October 2, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

Questions of Secrecy

By a Registered Nurse

I attended a retirement planning seminar about a year ago; after the big stock market drop. It focused on annuities along with the “free” dinner. The strange thing was that the host asked that no recording devices be used during the presentation for copyright purposes. I know a bit about annuities and don’t think he said anything wrong, other than using a few common scare tactics. He had virtually no academic credentials and so I enjoyed the dinner and went on with my life.

Personal Invitation

A few days ago I was “personally” invited by mail to a financial planning seminar hosted by a group of attorneys, accountants and estate planners to an extremely prestigious, and no doubt expensive, restaurant. This time, the following warning appeared in writing on the invitation.

“Due to the copyright nature of this material, attorneys, accountants, insurance agents or financial planning practitioners are not admitted without express permission. And, no audio or video recording devices will be allowed.”

Assessment

As a nurse I am not in the dis-invited group, and realize that the “personal” nature of the invitation was bogus. But, I was wondering if this copyright warning was “kosher”, or am I just being paranoid?

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. Is this secrecy standard industry practice? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Filed under: "Advisors Only", "Ask-an-Advisor", Ethics, Financial Planning, Quality Initiatives | Tagged: annuities, CFPs, CPAs, elder planners, estate planners, financial advisors, financial planners, financial seminars | 3 Comments »

iMBA Inc Books, Texts and Dictionaries

Posted on October 2, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

We Feature our Own Research and Development at the ME-P

By Ann Miller; RN, MHA

[Executive Director]

Physicians Beware … the Medical Management Consultants

Are you a doctor desperate for practice enhancement solutions, but don’t know where to turn for help?

Full article: http://oig.hhs.gov/fraud/docs/alertsandbulletins/consultants.pdf

Financial Planning … Wither On-line and Self-Advice for Physicians

Our sponsor, iMBA Inc, was created and launched in response to the frustration felt by doctors in small and mid-sized practices that dealt with top financial, brokerage and accounting firms. These non-fiduciary behemoths often prescribed costly wholesale solutions that were applicable to all, but customized to few – despite ever changing needs.

Full Article: http://www.medicalbusinessadvisors.com/quality%20of%20financial%20advice%20report.pdf

About the Comprehensive Health Dictionary Series™

Each useful and up-to-date quick reference in the 3 volume comprehensive collection lists and defines more than ten thousand words, abbreviations, acronyms, slang-terms, initialisms and specialized non-clinical health terms; alphabetically.

Full Article: www.HealthDictionarySeries.com

Assessment

Channel Surfing

Sponsor Link: www.MedicalBusinessAdvisors.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Get our Widget: Get this widget!

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: "Advisors Only", "Doctors Only", Book Reviews, Career Development, iMBA, Inc., Recommended Books, Research & Development, Sponsors | Leave a comment »

ME-Pr Photo Sharing Examples

Posted on October 1, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

“Impaled”

This is an actual military emergency room photo of a man who lost control of his high speed boat. We believe that he was t raveling at a speed of approximately 75 mph at the time of the accident. He was unable to negotiate a curve in the narrow waterway and unfortunately for him, upon striking the shoreline, he was ejected from the boat and landed on an old fence post. You can probably picture what happened next, but this photograph really says it all.

The good news is after about 6 months, this man made a full recovery after suffering a shattered hip, broken leg, several broken ribs, internal injuries and soft tissue damage. The doctors credited his recovery to the fact that the post lodged itself so tightly that there was little or noblood loss. Now, that’s got to hurt!

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“Cheesy Ambulance”

The irony of this Prudential insurance logo on an ambulance in Waltham, a city in Middlesex, MA, is obvious and very cheesy!

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“Devotee of Medical Marijuana”

A clandestine medical marijuana farm located in the basement of a doctor’s home in California. He apparently wanted to disintermediate the middle man [Federal government and IRS]; to no avail!

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“Publisher-Driver”

ME-P Publisher-in-Chief Dr. David Edward Marcinko, at the wheel of a Marquette Hospital FMS ambulance, in MI during the summer of 2009.

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“Strawberry Meth”

Strawberry Quick

This is a new drug known as ‘strawberry quick.” It is a form of crystal meth that looks like strawberry pop rocks (the candy that sizzles and ‘pops’ in your mouth). It smells like strawberry and is being handed out to kids in our schoolyards. Another name is “strawberry meth.” Our children are ingesting this drug thinking it is candy and being rushed off to the hospital in dire conditions. It also comes in chocolate, peanut butter, cola, cherry, grape and orange flavors. Please instruct your children not to accept candy from strangers or even accept candy that looks like this from a friend (who may have been given it and believes it candy). Instruct them to immediately take any candy/drug that they may have to a teacher, principal, etc. Pass this ME-Pr post to as many people as you can (even if they do not have kids), We must raise awareness and hopefully prevent any tragedies from occurring. I do not want to see your kids – in my ER.

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“Benjamins for Healthcare”

This photo was submitted by a physician whose patient wanted to pay in cash for medical care. The incident takes the concept of high-deductible Health Savings Accounts [HSAs], or concierge medical practice, to another level.

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“Going Galt”

From a tea-party protesting against President Obama’s healthcare bill, in Seattle Washington, at the Northgate Center! The term “Going Galt” suggests that there are physicians and other citizen producers taking a lesson from Ayn Rand’s novel, “Atlas Shrugged”, who are trying to reduce their own productivity in order to minimize the amount of tax money they send to the government.

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Palmer Fire Department

Negaunee, Michigan “Pioneer Days” parade with Palmer Fire Department rescue vehicle [Submitted by Rachel Pentin-Maki; RN, MHA].

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Healthcare Fraud Goes Mainstream

Five million, four hundred thousand, dollars in cash was seized during a raid on this fraudulent durable medical equipment [DME] billing enterprise near Washington, DC. Trace amounts of cocaine and nitrate residue were also found on the bills. Some suggest that healthcare fraud is going “main-stream” as an easy alternative to violent crime in the underworld.

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Military Medicine

We truly take a lot for granted. Forget the football ‘heroes’ and movie ‘stars’. Pass this on so that all may know the price of freedom. Submitted by Army Captain Cecelia T. Perez; RN, ANC, who served with the 67th Combat Support Hospital (CSH) in Tikrit, Iraq, during Operation Iraqi Freedom II

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ACPE Meeting

The American College of Physician Executives Fall Institute meeting, in Tucson, Arizona. The event was held Nov. 14–19 at the Westin LaPaloma in the foothills of the Catalina Mountains.

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Christmas in Iraq

Army Captain Cecelia T. Perez ANC, served with the 67th Combat Support Hospital (CSH) in Tikrit, Iraq, during Operation Iraqi Freedom II. She makes us proud of her courage.

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Desperation in Haiti ?

Excavating in Port–au–Prince [January 2010]

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Johnny in Home-Room

Minutes before his trip to the Emergency Room

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Non-Medical Mary Jane?

The iGrow Superstore in Oakland, California is a 15,000 square foot superstore for hydroponic and medical marijuana growing supplies. However, these native plants in the wild may not be hot-sellers. Photo © 2010 iMBA Inc. All rights reserved.

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Tree Surgeon Wanted

“Dr. Tree Surgeon to the OR, stat”. Submitted by Edward, February 6, 2010, Baltimore, Maryland.

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Safe Dental Amalgam Removal?

Imaginative dental care stakeholders armed with frightening stories about “mercury fillings” happen to have swell solutions for sale, and are hoping for business help in the way of a federal mandate of some kind. If the alarmists have their way with the FDA, and you happen to have the same kind of silver/mercury alloy fillings in your mouth that haven’t caused your ancestors harm for over a hundred years, this is the modern way to remove them safely. Let’s get silly.

Darrell Kellus Pruitt; DDS

[Fort Worth, TX]

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A New Meth Lab Definition

According to Wikipedia, Methamphetamine (pronounced /ˌmɛθæmˈfɛtəmiːn/ listen), also known as metamfetamine (INN), methylamphetamine, N-methylamphetamine, desoxyephedrine, and colloquially as meth, is a psychostimulant of the phenethylamine and amphetamine class of drugs. It increases alertness, concentration, energy, and in high doses, can induce euphoria, enhance self-esteem, and increase libido. Methamphetamine has high potential for abuse and addiction by activating the psychological reward system via triggering a cascading release of dopamine, norepinephrine and serotonin in the brain. Methamphetamine is FDA approved for the treatment of ADHD and exogenous obesity, marketed in the USA and Canada under the trademark name Desoxyn.

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Automobile License Plate from the State of Virginia

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Lost my Laptop

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Computer Voyeur

email us your photo submissions for placement here:

MarcinkoAdvisors@msn.com

Filed under: iMBA, Inc. | Tagged: ME-Pr, photo sharing | 12 Comments »

Events Planner: October 2009

Posted on October 1, 2009 by Dr. David Edward Marcinko MBA MEd CMP™

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Events-Planner: OCTOBER 2009

Staff Writers

“Keeping track of important health economics and financial industry meetings, conferences and summits”

Welcome to this issue of the Medical Executive-Post and our Events-Planner. It contains the latest information on conferences, news, and relevant resources in healthcare finance, economics, research and development, business management, pharmaceutical pricing, and physician/entity reimbursement! Watch for a new Events-Planner each month.

First, a little about us! The Medical Executive-Post is still a newcomer. But today, we have almost 25,000 visitors and readers each month from all over the country, in addition to our growing subscriber base. We have been a successful collaborative effort, thanks to your contributions. As a result, we are adding new resources daily. And, we hope the website continues to provide the best place to go for journals, books, conferences, educational resources, tools, and other things you need to establish the value your healthcare consulting and financial advisory intervention. And so, enjoy the Medical Executive-Post and our monthly Events-Planner with our compliments.

A Look Ahead this Month

October 1: Print Edition Healthcare Journalism: If you would like to “step-up-your-game” and be considered as a peer-reviewed contributor to the third print edition of: The Business of Medical Practice [Health 2.0 Profit Maximizing Techniques for Savvy Doctors]; contact Ann at: MarcinkoAdvisors@msn.com. There are several chapter topics still available. Now, the important dates:

October 1: FINRA Small Firm Conference, San Francisco, CA
October 1-2: 31st Australian Conference for Health Economists, Hobart, Australia
October 1-3: FA Development Conference, Atlanta, GA
October 2: Healthcare Compliance Association, IND
October 2-3: YHEC Training Event on Models to Inform Drug-Device Development, York, UK
October 2-3: Annual Health Econometrics Workshop, Chicago, IL
October 5-7: Financial Planning Conference, South Wales, UK
October 6-7: Pharmaceutical & Medical Device Risk-Sharing & Value-Based Pricing, Boston, MA
October 7: Evaluating Medical Literature Workshop, San Antonio, TX
October 7-9: ACMP’s 2009 Educational Conference, San Antonio, TX
October 8: Investment Advisor Compliance Workshop, Washington, DC
October 9: Wealth Protection Workshop, San Francisco, CA
October 8-10: Portuguese Health Economics Association Conference, Porto, Portugal
October 9-10: FPA Next Generation Conference, Anaheim, CA.
October 12: Fixed Income Management Conference, CFA Institute, Boston, MA
October 10-13: FPA Conference, Anaheim, CA
October 13: Investment Advisory Compliance Workshop, New York, NY
October 15-16: The 2009 Value Driven Pharmaceutical Conference: Maximize Market Share in an Era of Value-Based Benefit Design, Washington DC
October18-21: 31st Annual Meeting of the Society for Medical Decision Making, Hollywood, CA
October 19-20: Medicare Advantage Strategic Plan Business Symposium, Arlington, VA
October 21-22: FINRA Advertising Regulation Conference, Washington, DC
October 23-24: 7th Annual Southeastern Health Economics Study Group Conference, Atlanta, GA
October 24-27: ISPOR 12th Annual European Conf, Paris, France
October 27: SIFMA Annual Conference, New York, NY
October 28: Medicare Management World Research Group, Washington, DC
October 29-31: Nordic Econometric Meeting, Lund, Sweden.

Please send in your meetings and dates for listing in the next issue of our ME-P Events-Planner.

MarcinkoAdvisors@msn.com

Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest E-Ps delivered to your email box each morning? Just subscribe using the link below. It’s free. You can unsubscribe at any time. Security is assured.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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