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HOSPITAL AND HEALTH CARE OPERATIONS, ORGANIZATIONAL BEHAVIOR AND FINANCIAL MANAGEMENT COMPANION TEXT BOOK  SET

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 Product DetailsProduct Details

[Foreword Dr. Phillips MD JD MBA LLM] 

[Foreword Dr. Nash MD MBA FACP]

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PURCHASE TODAY – FLOURISH TOMORROW!

Video on 19 Industries that Blockchain will Disrupt?

Healthcare Included

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Conclusion

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

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

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

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About the Lorenz Curve

What it is – How it works
By staff reporters

HISTORY:

The Lorenz curve is a graphical representation of income inequality or wealth inequality developed by American economist Max Lorenz in 1905.

DEFINITION:

The graph plots percentiles of the population according to income or wealth on the horizontal axis. It plots cumulative income or wealth on the vertical axis, so that an x-value of 45 and a y-value of 14.2 would mean that the bottom 45% of the population controls 14.2% of the total income or wealth. http://www.HealthDictionarySeries.org

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USE:

The concept is useful in describing inequality among the size of individuals in ecology and in studies of biodiversity, where the cumulative proportion of species is plotted against the cumulative proportion of individuals.

It is also useful in business modeling: e.g., in consumer finance, to measure the actual percentage y% of delinquencies attributable to the x% of people with worst risk scores.

MORE: https://www.investopedia.com/terms/l/lorenz-curve.asp

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. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Contact: MarcinkoAdvisors@msn.com

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https://www.crcpress.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

More on Physician Burn-Out

And … Depression

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Conclusion

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

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

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

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

About the Laffer Curve

What it is – How it works
By staff reporters

DEFINITION:

In economics, the Laffer curve is a representation of the relationship between rates of taxation and the resulting levels of government revenue.

The Laffer curve claims to illustrate the concept of taxable income elasticity—i.e., taxable income will change in response to changes in the rate of taxation. http://www.HealthDictionarySeries.org

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HISTORY:

The Laffer Curve is a theory developed by supply-side economist Arthur Laffer to show the relationship between tax rates and the amount of tax revenue collected by governments.

The curve is used to illustrate Laffer’s main premise that the more an activity such as production is taxed, the less of it is generated. Likewise, the less an activity is taxed, the more of it is generated.

MORE: https://www.investopedia.com/terms/l/laffercurve.asp

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. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Contact: MarcinkoAdvisors@msn.com

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https://www.crcpress.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

On Drug Overdose Deaths

2016 – 2017

By http://www.MCOL.com

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Conclusion

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

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

Contact: MarcinkoAdvisors@msn.com

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, I.T, business and policy management ecosystem.

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Post MVA: GO FUND ME for Kirby “Sasha” Fenton

Post M.V.A.

By Dr. Charles F. Fenton III JD

My son, Kirby “Sasha” Fenton sustained a devastating medical injury in a motor vehicle accident on January 16, 2018 in Marietta, GA.

As of this writing, he had surgery last night and has additional surgery planned for this morning (due to blood loss during the first surgery). Additional surgeries are expected. He will be in Wellstar Kennestone Hospital for at least a week and then will be transferred to a rehabilitation facility for an extended period of time.

He is NOT expected to make a full recovery. He will have permanent, significant disability.

Sasha needs funds for (1) medical expenses, (2) legal expenses connected to the accident, (3) rehabilitation expenses, and (4) most especially expenses relating to his transitioning to his life as a disabled person – this is really where he needs the bulk of funds.

Marietta Daily Journal Article: http://www.mdjonline.com/news/police-marietta-teen-thrown-from-motorcycle-after-passing-cars/article_c6a53874-fb02-11e7-a34c-8325493600cf.html

Sasha will appreciate your generosity.

Thank You

https://www.gofundme.com/kirby-sasha-fenton-rehab-fund

EDITOR’S DISCLOSURE: Dr. Fenton is a friend, colleague and frequent contributor to this ME-P, as well as our textbooks and related white-papers.

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MONEY: Spend it -OR- Give it Away

MONEY: The two choices

By Rick Kahler CFP®

A colleague recently reminded me that there are ultimately two things we can do with money: spend it or give it away. That’s it.

At first glance, this seems too simplistic. What about saving? What about investing for our future security? What about creating wealth?

Even when we are in the process of accumulating money and building wealth, we do so for the inevitable day we choose to spend it or give it away. Investing for retirement is about providing money to spend when we’re no longer earning an income. And whatever we have left at the end of life is ultimately given away.

Furthermore, the decision to spend or give away money is always a choice, even when it may seem we have no choice.

Here is why 

Most money experts break spending into “discretionary” and “non-discretionary” categories. Another way to frame this is “wants” and “needs.” Discretionary spending includes items that we want which aren’t necessary for survival, such as entertainment, vacations, designer clothes, and gourmet food. Non-discretionary items, or needs, include basic housing, food, clothing, and transportation.

Discretionary spending is clearly a choice. Yet even though we may tell ourselves we have “no choice” but to spend money on non-discretionary needs, fundamentally we always have a choice.

We may think we make the mortgage or rent payment because we “have” to, but actually it’s a choice because the alternative is to find a new place to live or be homeless. We make the car payment because we choose not to walk or use public transportation. We may choose to work at a job we dislike because it allows us to spend money on other choices we deem more important than job satisfaction. We choose to pay our taxes in order to avoid serious consequences like heavy fines or even going to jail.

We choose to earn and spend our funds in the ways we do, not because we “have to,” but because there is a payoff that makes the choice worthwhile.

Giving money away may seem more obviously a matter of choice. Yet giving to charity or to family members out of guilt or a sense of obligation sometimes seems like a “must.”

The choice

Yet in every case, it’s still a choice. Even when we give because it seems to be the only way to avoid detrimental or catastrophic consequences, we’re still making a choice. In some cases, choosing not to give (to a child, for example) may result in some wonderfully rich life lessons or behavioral changes.

The one time it seems that we really have no choice on whether we spend or give away our money is when we die. But even then, the choices about giving what we have left are made during our lifetime. Those who don’t do estate planning are choosing to let others decide how their money will be given away, with those decisions constrained by the provisions of their state’s laws.

Assessment

The bottom line is that when it comes to spending or giving money, we always have a choice. Ultimately, all of the money we choose not to spend while we are alive is money we are choosing to give away after death.

When we view our spending and giving as a matter of choice, it may be easier to see the importance of making money choices thoughtfully and consciously. The way we use our financial resources is crucial both for supporting our own life aspirations and for giving back to our families and communities. Choosing to spend consciously and give wisely is one more way we can choose to live richer, more fulfilling lives.

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.

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

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2018 Markets Update Video

The Business Cycle

As part of Merk’s in-house research meetings, they are studying a variety of charts that might affect the markets, ranging from charts on the economy, equities, fixed income, currencies, and commodities.

So, they now share with us  an update on select charts on the business cycle and why they might matter when thinking about the markets in 2018.

Please view: The Business Cycle

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What are Fibonacci Extensions?

What they are – How they work

[Courtesy Investopedia and staff members]

Fibonacci extensions are used in Fibonacci retracement to predict spaces of resistance and support in the market. These extensions involve all levels drawn past the basic 100% level; they are frequently used by traders to determine areas that will bring in profits.

One popular extension, the 161.8% level, is used to set a price target on a breakout of an ascending triangle; this target is calculated by multiplying the vertical distance of the triangle by key Fibonacci ratio 61.8%, and then adding the result to the triangle’s upper resistance level.

The Extensions’

A retracement movement of a stock is where the stock “retraces” a section of one of its previous moves. In most cases, a stock performs a retracement at one of three standard Fibonacci levels: 38.2%, 50% and 61.8%. When a stock retraces more than 100% of its prior move, a Fibonacci extension can be calculated. These extensions, used in combination with a variety of other indicators or patterns, are common practice for traders looking to determine one or multiple price targets.

Practical Use

It is best, and most practical, to calculate Fibonacci extensions when stocks are at new highs or new lows, and when there are no clear levels of resistance or support on the chart. If, for example, a trader is long on a stock and the stock begins to generate new highs, the trader can calculate Fibonacci extension levels to get a basic idea of where the stock is likely to fall and is more likely to make profits. The same is true for a trader who is short. Fibonacci extension levels can be calculated to give the trader a general idea of where the stock may begin to rally. The trader then has the option to decide if he wishes to cover his position at that level.

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Caution

Keeping practicality, and basic common sense, in mind, decisions to buy and sell stocks should never be made based solely on Fibonacci extensions. It is wise for traders to wait and watch for candlestick patterns, such as price action, to become evident to confirm whether a stock is likely to reverse at the traders’ target price.

Assessment

Fibonacci extensions are applicable to any timeframe, such as monthly charts to one-minute charts, and are tools best used on price waves so projections of future price waves can be generated. It is also wise for traders to note that clusters of Fibonacci levels are indicative of a price area that will inevitably be significant.

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. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Contact: MarcinkoAdvisors@msn.com

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The “Millionaire Class”

From Investors to Millionaires

By Rick Kahler CFP®

A few weeks ago I wrote about the increasing use of the term “Investor Class” as an inaccurate and generally disparaging synonym for the rich. https://medicalexecutivepost.com/2017/12/14/a-new-term-the-investor-class/

The same day I wrote that piece, a reader sent me an article by Christopher Ingraham that appeared December 7, 2017, in The Washington Post. It was titled, “Economy is creating millionaires at an astonishing pace. But what’s it doing for everyone else?” In it he refers to another group that he calls the “Millionaire Class.”

References

Ingraham references a paper, issued in November 2017 by New York University economist Edward N. Wolff, that finds the number of households with a net worth of $1 million (measured in constant 1995 dollars) increased from 2.4 million households in 1983 to 9.1 million in 2016, a growth of 279%. The total number of households increased by 50% during this period, meaning the number of millionaires increased at over five times the rate of increase of the overall population. Keep in mind that all these numbers refer not to income but to net worth—the total value of a household’s assets (including retirement accounts, homes, and other property), minus debts.

Wolff notes in his study that the bulk of the increase in the number of millionaire households happened between 1995 and 2001 and was due directly to the run-up in stock prices. He notes that more recently the increase in real estate values has nudged the number of millionaire households upward.

Ingraham writes that, “In 1983 fewer than 3% of households had a net worth greater than $1 million or more in constant 1995 dollars. By 2016 over 7% of households were worth that much.” His take is that the creation of all these new millionaires is more of what’s wrong with America. Yet there is another way of viewing it.

Ingraham refers to data from the Pew Research Center that finds the middle class is shrinking while the lower middle class and poor increased by 4%. He uses this as evidence of increasing income inequality as the poor get poorer and the rich get richer.

Confused?

Confusingly, data that I found and reported on in August of 2016 finds just the opposite. According to a study by Stephen J. Rose with the Urban Institute, between 1979 and 2014 every class of American became wealthier. The upper middle class (households earning between $100,000 and $350,000) increased from 12.9% to 29.4%. The poor (households earning under $30,000) contracted from 24.3% to 19.8%.

It isn’t astounding news that people who invest in stocks and real estate increase their wealth faster than those who don’t. These are the two asset classes that have the highest returns over almost any lengthy time period. If you want to build wealth you first need to be frugal—that is, have the ability to save money to invest—and then you need to invest in either businesses (stocks) or real estate.

Anyone with a few hundred dollars can own a slice of hundreds of the same stocks and real estate properties owned by the rich. Starting small and investing modest but consistent amounts over time is the way many people build wealth until they do indeed accumulate a net worth of a million dollars. This is not a sign of something wrong; it is an achievement worth celebrating.

Assessment

It seems to me all the reference to “investor classes” or “millionaire classes” is an attempt to shame and demagogue the uber rich. However, using these terms also shames everyday Americans who take pride in being responsible for their financial future and who take advantage of opportunities to provide security for that 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.

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

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On Emergency Department Usage

Annual Visits

By http://www.MCOL.com

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Conclusion

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

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

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

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The “Comprehensive Health Record”

About icucare

[Dr. David Edward Marcinko MBA]

http://www.CertifiedMedicalPlanner.org

There is much discussion today about the concept of a “Comprehensive Health Record”. This is an extension of the traditional terminology of “Electronic Health Records (EHR), Electronic Medical Records and Personal Health Records”, etc.

http://www.HealthDictionarySeries.org

From theory to practice

Etymology notwithstanding, the ISeeYouCare’s patient-centric healthcare platform is founded on the premise that the patient’s electronic health record must be accessible throughout the care continuum, no matter the venue, source or time of day. This level of integration and transparency drives clinical quality, positive provider and patient experience and lower costs in a value based world. The family of solutions impacts from the hospital to the home with an unmatched level of clinical collaboration for the payer to the provider, patient and family.

At ISeeYouCare, they support the concept of a Comprehensive Health Record (CHR). Furthermore, they  see it as true to the original concept of electronic health records.

 

Benefits of a Comprehensive Health Record

There are many reported reasons for a patient to manage and maintain their own comprehensive health record.

• Obtaining medical records from hospital systems and disparate providers can take a great deal of time. Often, patients need information in a timely manner, due to an emergency or a new diagnosis. The delay in getting information is frustrating and can be deadly in case of an emergency.

• Health care providers do not have to keep your records forever. The requirements vary from state-to-state, but in general, most do not have to maintain records beyond ten years.

• Maintaining a full longitudinal record of your health improves care coordination and promotes easier sharing of information with family and caregivers.

• Having full copies of your medical records with accurate information makes it easier to connect with other patients or conduct research online so you have a better understanding of any health concerns.

• You can save costs by providing doctors with results of tests and procedures performed by other organizations.

• It helps you make sure that your health information is accurate

Assessment: So, decide for yourself: EHR or CHR? https://icucare.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. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Contact: MarcinkoAdvisors@msn.com

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Happy Birthday Professor Hope Rachel Hetico 2018

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Congratulating a Medical Executive-Post Human Dynamo

  • By Dr. David Edward Marcinko CMP® MBA MBBS
  • By Ann Miller RN MHA
  • By Edward, Teresa and Mackenzie [ME-P staff]

cmp-logo16

During this busy post-holidays week, we’d like to acknowledge the birthday of one of our own; Hope Rachel Hetico.

mba

Despite again being in Chicago on a major corporate executive consulting assignment, Hope is a human dynamo for our holding parent company, the www.MedicalBusinessAdvisors.com and this expanding ME-P publication.

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Professor Hope Hetico

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In addition to serving as ME-P Managing Editor, she teaches online for our www.CertifiedMedicalPlanner.org program and completed her Co-Editorial duties for our just released 800 page  textbook, Risk Management, Liability Insurance and Asset Protection Strategies for Doctors and Advisors [Best Practices from Leading Consultants and Certified Medical Planners®].

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

She also completed editorial work on our 750 page companion text book Comprehensive Financial Planning for Doctors and Advisors [Best Practices from Leading Consultants and Certified Medical Planners®].

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

Hope accomplished all this while still leading on-ground classes and B-School health administration teaching assignments using the curriculum she helped outline in our magnum opus www.BusinessofMedicalPractice.com.

Product Details

Ageless

Now, don’t try to guess Hope’s age – you’d be decades off. Suffice it to say – she wears it well. Rather, follow our lead and feel free to give her a warm birthday “shout-out” and great big Mazel-Tov’.

Happy Birthday, Hope!

Product DetailsProduct Details

More:

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:

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

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Is this the NEXT OPIOID CRISIS?

A Gabapentin Prescriptions Surge May be Brewing Out-There!

By Dr. David Edward Marcinko MBA

Prescriptions for nerve pain medicines like gabapentin (Neurontin) and pregabalin (Lyrica) have more than tripled in recent years, driven by increased use among chronically ill older adults and patients already taking opioids, a U.S. study suggests. The proportion of US adults prescribed gabapentin and other drugs in the same family of medicines climbed from 1.2% in 2002 to 3.9% by 2015, a period that also saw a surge in opioid overdoses and deaths.

The drug class, known as gabapentinoids, includes gabapentin (Neurontin, Gralise, Horizant) and pregabalin. “Nearly 1 in 25 adults takes a gabapentinoid during a year, which matters because we have little data to support much use of this drug class and minimal data to support the long-term safety of the medications,” said study author Dr. Michael Johansen of the Heritage College of Osteopathic Medicine at Ohio University in Athens.

Source: Reuters Health News via MDLinx [1/8/18]

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Assessment

I hate to admit that these drugs did not even exist when I was in medical school. So, can we assume that most doctors today learned about them thru drug reps, TV, radio, internet, blog and vlog advertising, etc? 

More: https://www.painmedicinenews.com/Clinical-Pain-Medicine/Article/03-18/Gabapentin-and-Opioids-a-Potentially-Deadly-Combination/47053?sub=C143BC655DA759D99E56383AE3C0C55ECB64ABF25DFEFEA185C6CA3F4F86B4&enl=true&lipi=urn:li:page:d_flagship3_feed;y0AoiQmuRTy3ozEhwaJ0iQ%3D%3D

Is this the next opioid or drug crisis in the USA? Doctor colleagues, please think about the antibiotic resistance problem. Economic colleagues, please think about the “law of substitutions.” All, think about recreational marijuana? http://www.HealthDictionarySeries.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.

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.

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

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Product DetailsProduct DetailsProduct Details

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The Next Big [Investment] Thing?

Or, NOT!

By Rick Kahler CFP®

How do you spot the investment opportunity that will become the next Apple, Facebook, or Microsoft? Certainly they are out there. Someone is going to discover them and be set for life, so why shouldn’t it be you?

Here’s why it shouldn’t

As with all Registered Investment Advisors, the amount of money I manage for clients is publicly disclosed information that anyone with an Internet connection can find.

Because of that, I am seen as the gatekeeper of a source of funding for every under funded business opportunity that is sure to become the next Apple. I get to see a lot of proposals. Many have promise at first glance. But the promise usually fades the more I dig into the proposal, ask questions, and do the math.

After hours and hours of investigation, every few years I see that one proposal that looks really good. One that calls to me to invest, that really has the promise of being a winner. When all the stars and the planets align, I know I now have a 90% chance of not making a dime on the venture.

That’s why I have learned to save my time and my money when I am approached with “the next big thing.” I just don’t have time to investigate every project and cull hundreds of opportunities down to the one that has a 10% chance of succeeding. I see it as looking for the proverbial needle in the haystack. Certainly, there’s a needle in there somewhere. But examining every piece of hay in order to find it has a significant monetary cost.

To succeed, I would need a lot of time, even more money, and exponentially more intuition and intellect. Not to mention a fair amount of luck. The probability that I will go bankrupt before I ever find the needle is staggering.

Most of the “next big things” are discovered by driven entrepreneurs who bank everything they have on an idea and find the financing to shoestring it together. It usually isn’t the armchair investor who cashes in.

My experience

Over my 40 years of real estate and investment experience, I have seen people lose millions investing in lumber mills, emu farms, highly leveraged real estate, futures contracts, day trading, restaurants, multi-level-marketing companies, rare earth minerals, Iraqi currency, and the newest ones—marijuana farms and crypto-currencies.

As a result, for my money and the money of my clients, I’ll play the odds for success by saying “no” to every opportunity that comes across my desk. I don’t take the time to investigate them. I don’t read the offering circulars. I don’t attend presentations. The answer is “no” to the great odds of losing my money and “yes” to the staggering odds of keeping money growing conservatively for me and for my clients.

What do I say “yes” to? I say yes to investing in mutual funds that own or loan money to 12,000 successful companies around the globe and thousands of real estate properties. I say yes to well-diversified portfolios. I say yes to proven investment strategies with 25-year track records. I say yes to having enough cash reserves to fund two to five years of retirement income.

Boring

I know, it’s not very sexy, is it? In fact, the way I invest my money and the money of those who have entrusted their investments to me is downright boring.

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https://www.crcpress.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Assessment

So here is my hot tip when it comes to finding investment opportunities to secure your future: forget about the “next big thing.” Instead, stay with the “next boring thing.” The odds are overwhelming that this will make you a long-term winner.

Conclusion

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Continued focus on improving EHRs (or is it CHRs?)

From EHR to CHR

By Dr. David Edward Marcinko MBA

http://www.CertifiedMedicalPlanner.org

I read this curated article and decided to send it right out to our ME-P readers for comment [EHR = CHR].

Nothing more needs to be said, on my part. Is this mere definitional obfuscation for flawed technology? http://www.HealthDictionarySeries.org

So, what do you think?

http://www.healthcareitnews.com/news/epic-ceo-judy-faulkner-standing-behind-switch-ehrs-chrs

Assessment

A rose by any other name still smells sweet. But, does not an onion stink?

Conclusion

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On National Healthcare Spending

Product and Service Distribution for FY 2016

By http://www.MCOL.com

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Conclusion

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

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

Contact: MarcinkoAdvisors@msn.com

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On The Tax Cut and Jobs Act (TCJA)

The Tax Cut and Jobs Act (TCJA)

By Rick Kahler CFP®

The Tax Cut and Jobs Act (TCJA) has generated a lot of media hype, much of which is coming from the extreme wings of both political parties and much of which is simply not true.

Here is some perspective

When he signed the bill President Trump called it “the largest tax cuts in our history”. This is not so.

According to a November 2, 2017, article in Reuters, the largest personal tax cuts in U.S. history came from Presidents Warren Harding and Calvin Coolidge, both Republicans. In 1922, the top tax rate was 73 percent. By 1925, it was only 25 percent.

Under Presidents John Kennedy and Lyndon Johnson, both Democrats, the tax cuts of 1964 and 1965 cut the top rate from 91 percent to 70 percent. The 1986 Reagan cuts lowered the top rate from 70 percent to 28 percent.

In comparison, the Trump cuts reduced the top rate from 39.6% to 37%, a miniscule 6.6% drop.

The new tax rules do mean some significant changes 

The good news is that the standard deduction will nearly double and the maximum child tax credit will increase from $1000 to $2000. But almost nowhere do you read about the bad news: the current personal exemptions will go away.

For 2017, an individual can take the $6350 standard deduction plus the $4050 personal exemption for a total of $10,400 (plus $4050 for each dependent). For 2018, this is $12,000, only $1,600 more in deductions. This means a median tax savings of about $192 per person, and only if you don’t itemize.

The even worse news

Home office expenses, moving expenses to relocate for a new job, casualty and gambling losses, unreimbursed business expenses, tax preparation software, tax preparation fees, and investment advisory fees will no longer be deductible on Schedule A.

This tax act has been labeled as terrible for the middle class and wonderful for the uber-rich. I don’t see that either claim is true. It appears to me that the winners (not “big winners”) are the middle class. Yes, the uber-rich also get a small 6.6% reduction—hardly a big deal compared to the cuts of 23% to 73% under Kennedy, Reagan, Harding, and Coolidge.

Corporate taxes

The real impact of the TCJA is its reductions on corporate taxes, not personal taxes. Taxes on C-corporations are cut from 34% to 21% (a 38% reduction). What isn’t reported is that reducing America’s corporate income tax has had bipartisan support for several years. The current US rate of 34% is the highest in developed countries, when the average global corporate tax rate is 22.6%.

Those who attack “big corporations that will just pass tax savings on to investors” tend to forget that 43% of Americans invest in these same corporations, including those with 401(k), IRA, or 403(b) retirement plans.

You also probably haven’t read that the new law actually raises taxes on corporations with taxable incomes of under $50,000, from 15% to 21% (a 38% increase). These corporations are those most generally owned by the Main Street business person.

The TCJA helps tax payers that are sole proprietors, partners and shareholders of S-corporations, LLCs and partnerships, which pass profits or losses through to be taxed in the taxpayer’s personal tax brackets. The new law allows most of these pass-through entities to exclude 20% of their profit from taxes. However, if you are in the profession of law, accounting, medicine, or financial planning, or are a professional musician or athlete, the exclusion probably doesn’t apply.

Assessment-Irony

Finally, for the 51% of Americans who pay taxes, the TCJA adds an unbelievable amount of complexity to an already complex tax code.

Conclusion

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On U.S. State Health Rankings

FOR FY 2017

By http://www.MCOL.Com

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Conclusion

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

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

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On “Fancy-Smancy” EMRs, IT and Cyber Security, etc.

EMRs – Providers Need to Prepare for Virulent Ransomware in 2018

[By staff reporters]

Ransomware emerged as a significant threat on the worldwide stage in 2017, but new variants will challenge healthcare providers well into 2018, with some versions of new malware not even needing a network to distribute themselves throughout an organization. Previous variants of ransomware, particularly the WannaCry attack in May, showed the ability to self-propagate and spread across a network and onto other networks via the Internet.

Educating a healthcare’s organization workforce on cyberattacks is necessary, but it’s not enough to bring them up to speed on phishing and other threats. Practices need to harden their own email systems; for example, Matt Sherman, a malware outbreak specialist at Symantec, advises using secure email systems as a best practice along with two-factor authentication software. Email systems should scan links contained in incoming messages, and they should enable automatic image loading in messages.

Source: Joseph Goedert, adapted from Health Data Management [12/28/17]

***Courtesy: FunnyBones

Conclusion

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