• Member Statistics

    • 864,242 Colleagues-to-Date [Sponsored by a generous R&D grant from iMBA, Inc.]
  • ME-P Information & Content Channels

  • ME-P Archives Silo [2006 – 2021]

  • Ann Miller RN MHA [Managing Editor]

    ME-P SYNDICATIONS:
    WSJ.com,
    CNN.com,
    Forbes.com,
    WashingtonPost.com,
    BusinessWeek.com,
    USNews.com, Reuters.com,
    TimeWarnerCable.com,
    e-How.com,
    News Alloy.com,
    and Congress.org

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

    Product Details

    Product Details

    Product Details

  • CERTIFIED MEDICAL PLANNER® program

    New "Self-Directed" Study Option SinceJanuary 1, 2020
  • Most Recent ME-Ps

  • PodiatryPrep.org


    BOARD CERTIFICATION EXAM STUDY GUIDES
    Lower Extremity Trauma
    [Click on Image to Enlarge]

  • ME-P Free Advertising Consultation

    The “Medical Executive-Post” is about connecting doctors, health care executives and modern consulting advisors. It’s about free-enterprise, business, practice, policy, personal financial planning and wealth building capitalism. We have an attitude that’s independent, outspoken, intelligent and so Next-Gen; often edgy, usually controversial. And, our consultants “got fly”, just like U. Read it! Write it! Post it! “Medical Executive-Post”. Call or email us for your FREE advertising and sales consultation TODAY [770.448.0769]

    Product Details

    Product Details

  • Medical & Surgical e-Consent Forms

    ePodiatryConsentForms.com
  • iMBA R&D Services

    Commission a Subject Matter Expert Report [$2500-$9999]January 1, 2020
    Medical Clinic Valuations * Endowment Fund Management * Health Capital Formation * Investment Policy Statement Analysis * Provider Contracting & Negotiations * Marketplace Competition * Revenue Cycle Enhancements; and more! HEALTHCARE FINANCIAL INDUSTRIAL COMPLEX
  • iMBA Inc., OFFICES

    Suite #5901 Wilbanks Drive, Norcross, Georgia, 30092 USA [1.770.448.0769]. Our location is real and we are now virtually enabled to assist new long distance clients and out-of-town colleagues.

  • ME-P Publishing

  • SEEKING INDUSTRY INFO PARTNERS?

    If you want the opportunity to work with leading health care industry insiders, innovators and watchers, the “ME-P” may be right for you? We are unbiased and operate at the nexus of theoretical and applied R&D. Collaborate with us and you’ll put your brand in front of a smart & tightly focused demographic; one at the forefront of our emerging healthcare free marketplace of informed and professional “movers and shakers.” Our Ad Rate Card is available upon request [770-448-0769].

  • Reader Comments, Quips, Opinions, News & Updates

  • Start-Up Advice for Businesses, DRs and Entrepreneurs

    ImageProxy “Providing Management, Financial and Business Solutions for Modernity”
  • Up-Trending ME-Ps

  • Capitalism and Free Enterprise Advocacy

    Whether you’re a mature CXO, physician or start-up entrepreneur in need of management, financial, HR or business planning information on free markets and competition, the "Medical Executive-Post” is the online place to meet for Capitalism 2.0 collaboration. Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds. THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
  • OIG Fraud Warnings

    Beware of health insurance marketplace scams OIG's Most Wanted Fugitives at oig.hhs.gov

Top Challenges Facing Healthcare Executives Today

Join Our Mailing List 

Are you ready in 2017?

http://www.MCOL.com

***

***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct Details

***

Can blockchains set the Web free?

Join Our Mailing List

Really!

By MIT Technology News

Growing numbers of technologists want to reinvent the Web, to counter dominance of firms like Facebook and Google. They say the tech inside digital currencies could transform the way we share data.

Our own Mike Orcutt wonders if they’re right

 

 ***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

***

When You are Not a Financial Numbers Cruncher?

“When I see big numbers in an article, my brain just skips over them”

By Rick Kahler MS CFP®

If you are not a natural number cruncher, you may be like one of my clients who says, “When I see big numbers in an article, my brain just skips over them.” Unfortunately, skipping over numbers can lead to serious misunderstandings.

Here are three questions to ask that can help you clarify those big numbers:

1. What’s the time period? The reported cost or savings of something is completely irrelevant unless you know the length of time over which it is calculated.

For example, the August 11 Wall Street Journal included this headline: “U.S. Is Overhauling Its Nuclear Arsenal.” A secondary headline below read, “A $1 trillion revamp begun under Obama is under way as tensions rise with North Korea.”

It would be reasonable to assume this means an up-front cost of $1 trillion, which might strike you as outrageous, especially if you know the total U.S. annual budget is around $4 trillion. Yet reading the article would make clear that the $1 trillion price tag is over 30 years. This breaks down to an expense of $33 billion a year, roughly six percent of the $550 billion annual defense budget. A headline reading, “6% of annual defense budget to be spent modernizing the nuclear arsenal,” is less likely to make the hairs on your neck stand up in horror.

It’s no different than my saying I plan to spend $100,000 fixing up my house, which has a market value of $200,000. If you assume I’ll spend this immediately, it sounds shocking. But over 30 years it comes to $3,330 a year, which is a reasonable amount to spend on annual maintenance.

This tactic of lumping together multiple year’s expenditures is frequently employed when someone wants to make an expense or a savings seem far larger than it really is.

2. Does the number include interest? If I said the average home in Rapid City, SD, cost $648,679, local residents who know the average home price is around $200,000 might call me a liar. Yet the cost of mortgage interest over 30 years on that $200,000 house brings the total to $648,679. This larger number might seem deceptive, because our society refers to the cost of something based on today’s cash price, not in terms of the total initial cost plus interest.

3. Did you read the whole article carefully? If you speed read and miss the minutia, numbers can be misleading. In recent weeks, the Rapid City Journal has published several articles on the controversial issue of remodeling or replacing the city’s civic center. A July 9th article cited the cost of a new civic center as $182 million; on the second page the cost of a previous proposal for a civic center that was defeated in a public vote was listed as $180 million. A quick read would make it appear the new proposal would cost $2 million more than the previous proposal.

A closer read would show that the $182 million for the new center included interest over 30 years, while the $180 million number for the former included no interest. With interest, the cost of the previous proposal would have been $340 million to $420 million, numbers which did appear elsewhere in the article. If we compare actual cost without interest, the estimated cost of the new proposal is around $100 million to $130 million, which is $50 million to $80 million less than the $180 million cost of the previous proposal.

Assessment

You don’t have to be a “numbers person” to understand big numbers in media reports. You just need (with the help of a calculator, if necessary) to read carefully.

Conclusion

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

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

Contact: MarcinkoAdvisors@msn.com

***

On Unfilled RXs in the USA

Respondents Poll

By http://www.MCOL.com

***

***

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, and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

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

Contact: MarcinkoAdvisors@msn.com

***

Update on EHR Rankings

Top Vendors

By http://www.MCOL.com and KLAS

******

Conclusion

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

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

Contact: MarcinkoAdvisors@msn.com

***

On Overtreatment in US Healthcare

Twenty Percent may be Unnecessary?

By http://www.MCOL.com

***

***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct Details

***

A MIPS: Quality Payment Program Report

Percentage Clinicians Might Lose for Failure to Report

By CMS

***

***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct Details

***

The EQUIFAX hack; and me!

About the  massive computer hack

By Rick Kahler MS CFP®

The massive computer hack of Equifax, one of the three largest US credit reporting agencies, exposed the Social Security numbers, names, and contact information for up to 143 million of us.

How should you respond?

A lot of conflicting advice is floating around; here is what I am doing and what I would recommend:

  1. Go to EquifaxSecurity2017.com and enter your last name and the last six digits of your Social Security number to find out whether you are one of those potentially affected by the breach. There is a question on how accurate this is; one person entered their name as “test” and number as 123456, and was told they were affected by the breach.
  2. Consider (also through EquifaxSecurity2017.com) enrolling in Equifax’s free one-year credit monitoring service. Starting this process put me on a waiting list to actually sign up; I have until November 7 to complete the enrollment. I will wait to sign up until more is known. The fine print of that offer initially appeared to require waiving your right to join a class action lawsuit against the company. The website now reads: “In response to consumer inquiries, we have made it clear that the arbitration clause and class action waiver included in the Equifax and TrustedID Premier terms of use does not apply to this cybersecurity incident.”
  3. Monitor your bank accounts, credit card statements, and other financial information carefully for the next year. Immediately report any suspicious transactions.
  4. Do not rush out and buy identity theft insurance. The big winners out of this mess will be insurance companies that sell this protection, as millions will take out new policies. I do not plan to be one of them, as my opinion that identity theft insurance is of limited value has not changed.
  5. If a check of your Social Security number through Equifax’s website shows your information has potentially been compromised, you could consider canceling credit cards or closing bank accounts that may not protect you against fraud. However, most major credit cards and financial institutions will cover successful fraudulent attempts to use your account.
  6. Consider placing a free fraud alert on your account with the three major credit bureaus to warn creditors to verify your identity before issuing credit in your name. If you contact one agency, it is required to notify the others. You can also put a freeze on your credit, which blocks anyone (including you) from accessing your credit reports without your permission.
  7. Unfortunately, one of the best actions to take is one that none of us can easily do: change our Social Security numbers. It is possible to change one as a result of identity theft, but the application process requires evidence of serious ongoing problems.
  8. Consider contacting your Senators and Representatives to raise the issue of whether it’s time to discuss more flexibility around Social Security numbers. The good news is that elected officials may well be among the millions of us in this boat.

While Equifax has handled this debacle poorly (it took them a month to disclose it), they are not the only company that will suffer serious consequences. I see banks and credit card companies, who ultimately pay the tab for identity theft, as the biggest losers.

Assessment

This data breach potentially involves many people who have followed recommended strategies, such as using strong online passwords and guarding credit cards and account numbers, to protect against identity theft. I recommend following the Equifax story as it unfolds in the media, as it may have an impact on how you should safeguard your data in the future. 

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct Details

***

 

 

Non-Profit CEO Compensation Update

Percentage contribution amounts

By Snopes 

NOTE: Not independently verified by us. Continue reading

Dental EHRs are Coming to an End?

Dental EHRs are Coming to an End

By Darrell Pruitt DDS


The reckless third-party push for adoption of increasingly dangerous dental EHR systems is the most harmful scam in the history of dentistry.

But it’s almost over, Doc. Equifax was hacked.

“If a company like Equifax can make significant investments, have every incentive to keep the most sensitive kind of information secure, but still experience a breach … it stands to reason that our playbook needs a revision,”

Josh Mayfield: [Platform Specialist at Firemon Immediate Insight]. (See: “Equifax, U.S. consumers alike will struggle to overcome massive hack” By Tim Johnson for Mcclatchy, September 8, 2017).

Http://www.mcclatchydc.com/news/nation-world/national/national-security/article172078982.html

Why should anyone assume electronic dental records are any more secure than Equifax records?

Not only do digital health records subject Americans to increasing risk of medical identity theft – which can be lethal – but they are increasingly more expensive than paper dental records.

What’s more, electronic dental records offer dental patients NO TANGIBLE BENEFITS:  When is the last time you witnessed a practice advertise the benefits of digital records? On the other hand, you may have also noticed the appearance of paper files in the backgrounds of promotional photos.

A decade ago, I tried to persuade American Dental Association leadership to consider de-identification of dentists’ primary dental records. After all, if identities are unavailable, they simply cannot be stolen. ADA leadership summarily discarded the idea in favor of full disk encryption – which dentists summarily rejected in favor of luck …. And so here we are, Doc. “First, do no harm.”

***

***

Dental EHR vendors simply will not survive transparency without fundamental changes in how patients’ welfare is guarded – which will further increase their cost and liability.

The future is obvious, yet I am the only dentist in the nation openly warning of the inevitable collapse of the electronic dental record industry. Unlike physicians, who treat four to five times as many patients a day and depend on quick interoperability with other physicians, dentists can safely return to paper. They won’t like the inconvenience of carbon paper, but following the Equifax breach of almost half of the nation’s consumers – virtually every one of them mad as hell – dentists will have no choice. Ehrs have become too costly.

Assessment

This week, a dentist on Facebook who tried but failed to defend the censorship habits of a popular dental consultant said I was on a “one-man crusade.” I don’t think he meant it in the good way. I ask you to remember that remark for future reference.

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

 Product DetailsProduct Details

***

 

What the heck is an Initial Coin Offering anyway?

 Wither the I.C.O.

By MIT Technology Review

bitcoin

You may have heard a buzz surrounding the new fundraising tool known as an ICO, which is how many new blockchain startups are raising cash.

But for those of you who are too embarrassed to ask, let us tell you what they’re all about.

 Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

***

 

Bitcoins for Retirement?

 In a Balanced Portfolio?

By Rick Kahler CFP®

A reader recently sent me the following email: “As you know, there are ‘market experts’ pitching bitcoins as an ‘investment’. Has a Huge YTD gain. I’d bet a lot of your readers would like to know if a bitcoin position has a place in a balanced financial portfolio.”

I always appreciate hearing from readers, especially when they challenge me with topics I would normally not have considered. Bitcoins are not something to which I’ve paid serious attention.

How they Work

First, let me explain that a Bitcoin is a type of digital currency which is traded person to person. It is not backed by a government or considered legal tender. While Bitcoin is one of the earliest and most widely known digital currency systems, it is not the only one that is available. These are sometimes called “altcoin,” “virtual currency,” or crypto-currency.”

Unlike government-created currencies where a central bank controls the creation of the currency, Bitcoins are uncontrolled or tracked by any government. This allows people to send or receive money across borders freely, with none of the restrictions, tracking, or caps that are normally placed on transactions by governments.

A digital money system has an inherent problem common to all money systems. How do you keep the currency, especially one that is entirely digital, from being counterfeited? What stops someone from creating Bitcoins or selling the same Bitcoin multiple times?

The solution is a type of open source, public ledger that tracks every Bitcoin transaction from the beginning of Bitcoin time. It makes it virtually impossible to cheat. The creation of new Bitcoins is controlled via a process called mining. Only a limited number of new Bitcoins are allowed into the system annually, similar to how the precious metal supply gradually expands annually based on the mining of new metal.

The market in trading Bitcoins is probably as “free” as a currency market can get. The price of Bitcoins is based on supply and demand. Since Bitcoin was only created in 2009, it has less than a decade of performance to evaluate, but throughout its short history the price has fluctuated wildly. For example, it reached $31 in July of 2011, then dropped back to $2 by that December. In November of 2013 it hit a high of $1,242. The following month, the price dropped to $600, rebounded, crashed, and eventually stabilized to a range of $650 to $800.

The reader who asked me about Bitcoin was certainly right about its impressive 2017 year-to-date performance. On January 1, 2017, a Bitcoin sold for $496.90. As of August 19 it closed at $4,109.10, nearly a ten-fold increase in just eight months.

***

***

Operating History

An article on Investopedia offers a good overview of Bitcoin‘s operation and history.

It also describes some of the risks to evaluate before considering it as an investment. These include the relative novelty and lack of track record of digital currency, the possibilities for hacking and fraud, the uncertainties of future regulation, and the competition of other developing virtual currency systems. It also points out that Bitcoin transactions are similar to dealing with cash. They are “permanent and irreversible,” with “no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.”

Assessment

While I like the libertarian freedom of the idea of a currency uncontrolled by government intervention, I don’t consider owning such a currency an investment. I do consider buying or selling digital currencies like Bitcoin a speculation. Like other speculative investments, these do not belong in any retirement portfolio. 

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

***

On Social Determinants Of Heath [SDOH]

Eight Data Sources from the CDC

Join Our Mailing List

1. Chronic Disease Indicators – https://www.cdc.gov/cdi/index.html
2. Community Health Status Indicators (CHSI 2015) –http://wwwn.cdc.gov/CommunityHealth/
3. Health Indicators Warehouse – http://www.healthindicators.gov/
4. Interactive Atlas of Heart Disease and Stroke – http://nccd.cdc.gov/dhdspatlas/
5. National Center for HIV/AIDS, Viral Hepatitis, STD, & TB Prevention Atlas – https://www.cdc.gov/nchhstp/atlas/index.htm
6. National Environmental Public Health Tracking Network – http://ephtracking.cdc.gov/showHome.action
7. The Social Vulnerability Index – http://svi.cdc.gov/
8. Vulnerable Populations Footprint Tool – http://www.communitycommons.org/chna/

MORE: https://www.goinvo.com/vision/determinants-of-health/

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct DetailsProduct Details

***

Healthcare Spending and Utilization Growth

Circa 2011-2017

http://www.MCOL.com

***

***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct Details

***

Are you ready to secure patient data?

Join Our Mailing List

The Challenge of Managing Member Identities

By http://www.MCOL.com

***

***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

  Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

***

On Organ Harvesting

The Financial and Human Side

By staff reporters

NOTE: We recently received this anonymous message and post it for your critical analysis. No proof or disproof of authenticity is offered. It has been checked for viruses and other malicious miscreants.

Dear ME-P Friends,

Sorry for disturbing you, but we really need your support. We have put up a petition on our website infouncensoredchina.net It’s against the forcible removal of organs from innocent practitioners of Falun Gong in China. Please sign this plea. We need your voice to stop these crimes against humankind.

Feeding your family by selling a kidney?

We have read and heard about poor people in cities and country sides who, in order to pay off family debts are taken advantage of by illegal agents.

In one of the readers’ correspondence columns in the International Herald Tribune, a man in Chennai offered to sell his kidney in order to feed his family. That man was driven by the needs of life. He was jobless, and his wife and three kids were hungry.

This case touched the hearts of a lot of people such that, in the end, he did not have to sell his kidney, because a wealthy individual helped him by offering him some money and an employment.

In other situations, a kidney “sale” may occur for mutual benefit. The effort to save a person with kidney failure becomes the focus, not the process of selling the organ. The situations in these two cases conjure a strong sense of compassion and support. This is completely different from the anomaly to which Falun Gong practitioners in China are subjected. A cruel form of killing people for their organs is taking place on a huge scale in China, a circumstance far from humanity.

Before the Chinese government cracked down on the peaceful meditation practice on July 20, 1999, at least 70 million people were practicing Falun Gong around the country. Falun Dafa followers who live by the principles of truthfulness, kindness and forbearance, were victimized by former president Jiang Zemin, who could not accept the growing popularity of the practice. Since Jiang banned Falun Dafa over 16 years ago, practitioners have been systematically imprisoned tortured, and killed for their organs.

***

***

Assessment

There is substantial evidence stating that Chinese transplantation centers, as well as the police departments, military, and judicial systems, are making large monetary profits by taking the lives of healthy, innocent people, namely Falun Gong practitioners and other prisoners of conscience.

More information about these crimes can be found on the website.

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Join Our Mailing List 

 

On the Department of Labor “Fiduciary Rule”

Join Our Mailing List

Rick Kahler MS CFP

By Rick Kahler MSFS CFP®

Both fee-only financial planning firms and companies that sell financial products are beginning to see some unintended consequences from the recent Department of Labor fiduciary rule.

The rule requires that all financial advisors who deal with an investor’s retirement accounts, including those who sell products, be held to a fiduciary standard. In the past, only RIA’s who are regulated by the SEC were held to such a standard.

The DoL intended the rule to discourage financial salespeople from placing high fee and commission products in retirement accounts. For fee-only advisers, one unintended consequence is an increase in documentation and paperwork, which increases the cost of doing business.

Another unintended consequence that could actually end up hurting consumers may be on the issue of churning.

Churning

Churning describes a broker excessively and needlessly making a lot of trades in a client’s account to generate extra commissions. FINRA, the agency that oversees the sale of financial products, has long discouraged churning, though often the practice only comes to light when a consumer files a complaint.

Still, regulators’ success in discouraging churning has given rise to fee-based brokerage and wrap accounts. These accounts do not compensate brokers on the number and frequency of transactions, but on an ongoing management or advisory fee. It can be a flat fee or one that is determined by a percentage of the assets in the account. This mode of compensation takes away a broker’s incentive to churn accounts. That has to be a good thing, right? Well, not necessarily, if you are a regulator.

***

dol

***

Now, according to financial planner and writer Michael Kitces, the regulators are concerned they have been “too successful” in motivating brokers to charge management fees. Kitces notes the new DoL fiduciary rule will continue to spur a massive shift towards various forms of fee-based brokerage and advisory accounts, giving rise to an emerging new problem: reverse churning.

Reverse Churning

He says reverse churning “is where an advisor charges an ongoing investment management fee … but fails to provide any substantive ongoing investment services.” The broker places a consumer in an investment, collects the annual fee, and never touches the account again. Regulators are worried that brokers have gone from too much activity (churning) to not enough (reverse churning).

With the rise in popularity of passive investing, there is growing interest in the use of ETFs, index funds, and other passive investment vehicles. Passive investing is often framed as a “leave it and forget it” strategy that needs little attention. A lot of research validates that a passive investment strategy is usually superior to an active strategy with more buying and selling of securities.

Kitces notes that while the regulatory concern about reverse churning is appropriate, it “raises troubling concerns when paired with the growing popularity of using index funds, ETFs, and passive investment approaches. How is an advisor supposed to justify an ongoing advisory fee when the right thing for the client to do might really be to do nothing? And what if the bulk of the advisor’s AUM fee is actually for other non-investment (i.e., financial planning) services, paired together with an otherwise passive investment portfolio?”

Assessment

Regulators will probably need to address the difference between reverse churning and implementing a prudent passive investment strategy. That won’t happen before there is a lot of confusion that demands clarification. In the meanwhile, fee-only advisors who embrace a passive investment strategy will have to add another layer of busywork by documenting what they actively do for clients on an ongoing basis. Clearly, this will be easier for fiduciary advisors who also provide financial planning than for those who only provide investment advice. 

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

***

WEGO Health Nominates the ME-P as “Best- in-Show” Blog

Join Our Mailing List 

WEGO Nomination 2017

By the WEGO Health Team

Dear Dr. David Edward Marcinko MBA,

Congratulations on your nominations for a WEGO health activist award.

We wanted to let you know that you’ve been nominated for the WEGO health activist award –

This nomination will appear on your nominee profile – feel free to update your personal bio if needed and share this new achievement with your family, friends, patients, students and clients community.

******

Assessment

And, your ME-P readers, visitors and subscribers can view your entire profile; here.

Congratulations!

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

<span>%d</span> bloggers like this: