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On the PPMCs of Yester Year and Today

Over Heard in the Doctor’s Lounge

Courtesy: www.CertifiedMedicalPlanner.org

On the PPMCs of Yester Year and Today

PPMC = Physician Practice Management Corporation

LINK: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

Reflect on medical colleagues willing to securitize their practices a few years later, and cash out to Wall Street servitude for riches not rightly deserved. Where are firms such as MedPartners, Phycor, FPA, Coastal Healthcare, and a host of others, now?

ESSAY: https://medicalexecutivepost.com/2007/11/27/ppmc-redux/

A survey of the Cain Brothers Physician Practice Management Corporation Index of publicly traded PPMCs revealed a market capital loss of more than 99%, since inception.

UPDATE: https://www.beckershospitalreview.com/hospital-physician-relationships/physician-practice-management-a-new-chapter.html

QUERY: Would niche educated and physician-focused financial advisors [The Certified Medical Planner™ professional designation did not yet exist] have been able to avoid this calamity?

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TODAY: https://healthcarefinancials.files.wordpress.com/2007/11/ppmc.pdf

Your thoughts are appreciated.

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A.I. Adoption and Perceptions in Healthcare

By http://www.MCOL.com

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Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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What is the PROPINQUITY Effect and FELICIFIC Calculus?

The MIT Westgate Studies

By Prasad Nilanth

The “P” theory was first crafted by psychologists Leon Festinger, Stanley Schachter, and Kurt Back in what came to be called the Westgate Studies conducted at MIT.

The study investigated how friendships developed among students at the new Westgate Complex at MIT. The results clearly showed the role of proximity in the formation of friendships. The strongest friendships developed between students who lived next to each other on the same floor. Where friendships developed between students who lived on different floors, one of those students tended to live near the stairways.

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In social psychology, propinquity (/prəˈpɪŋkwɪtiː/; from Latin propinquitas, “nearness”) is one of the main factors leading to interpersonal attraction. It refers to the physical or psychological proximity between people. Propinquity can mean physical proximity, a kinship between people, or a similarity in nature between things (“like-attracts-like”).

Two people living on the same floor of a building, for example, have a higher propinquity than those living on different floors, just as two people with similar political beliefs possess a higher propinquity than those whose beliefs strongly differ.

Propinquity is also one of the factors, set out by Jeremy Bentham, used to measure the amount of (utilitarian) pleasure in a method known as felicific calculus.

MORE: https://en.wikipedia.org/wiki/Felicific_calculus

Conclusion

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Why Your Digital Medical Practice Marketing Campaign is Failing?

Why Your Medical Internet Marketing Campaign Isn’t as Effective as It Used to Be

Courtesy:

www,CertifiedMedicalPlanner.org

And How Much it Should Cost?

A strong online presence is crucial to running a successful business, and healthcare is no exception. However with constant change, many businesses are experiencing underperforming campaigns and struggling to figure out where to spend their marketing dollars.

For example:

  • Should you invest heavily in pay-per-click (PPC) advertising?
  • Focus your efforts on search engine optimization (SEO)?
  • Hit the ground running with social media?

Now, according to colleague John Deutsch, the answer is that you should never focus solely on one marketing channel, as it could take months or even years to recover when changes in the marketing industry occur – and they inevitably will occur.

ESSAY: https://medicalexecutivepost.com/2014/11/24/why-your-medical-internet-marketing-campaign-isnt-as-effective-as-it-used-to-be/

And, how much should it cost?

ESSAY:: https://medicalexecutivepost.com/2011/09/23/how-much-money-should-a-medical-practice-spend-on-a-marketing-campaign/

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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An Entrepreneurial Mindset Can Hinder Wealth Building

“Help Wanted: Entrepreneur”

By RICK KAHLER, CFP

You have probably never seen an ad like this, because entrepreneurs are not hired. They hire themselves. Merriam-Webster defines an entrepreneur as “a person who starts a business and is willing to risk loss in order to make money” or “one who organizes, manages, and assumes the risks of a business or enterprise.”

God bless entrepreneurs. Without them our world would look much different. We would probably still be living in caves, hunting with clubs, and eating raw meat. They create companies from scratch. In so doing, they create jobs and take significant monetary risks of a business failure.

They also stand to gain substantial rewards for success, but that success is far from guaranteed. Few people realize that most entrepreneurs fail in their attempts in business. According to Investopedia, 50% of all new businesses fail in 5 years, 66% in 10 years, and 75%  in 15 years.

Given those statistics, the entrepreneurs who succeed must be rich, right? A study by Career Explorer found that the average full-time salary of an entrepreneur is $43,240 a year. To put this into perspective, the average starting salary for a graduating four-year degree student at the South Dakota School of Mines and Technology is $63,354. Maybe there should be a song, “Mamas, don’t let your babies grow up to be entrepreneurs.”

My experience, however, is that it really doesn’t matter what Mama says. The entrepreneurial mindset is somewhat inextinguishable. While there have been some attempts at teaching entrepreneurial skills, it’s hard to teach grit, determination, and perseverance, coupled with a good dose of fantasy thinking and denial. It’s really hard to “tell” an entrepreneur anything.

Fittingly, entrepreneurs love to invest in their own companies. Investment advisors call such holdings “tangible” investments, ones you can see and touch. Tangible investments include start-up businesses, family-owned businesses, and all types of directly owned real estate. They are inherently non-diversified and illiquid. Typically, entrepreneurs have the vast portion of their net worth tied up in their businesses. It’s incredibly rare to find one with a stash of cash or any type of liquid portfolio or retirement plan.

Why? The entrepreneurial mindset. First, entrepreneurs don’t believe in traditional diversification. Why settle for earning an average of 5% a year when you can earn ten times that in your business? Never mind that the chance of losing it all is three to one. Most entrepreneurs firmly believe they are the one guaranteed to succeed even though the deck is stacked against them.

Second is that since 75% of businesses ultimately fail, most entrepreneurs are losing, not making, money. They are perennially cash-poor and need every dollar they can find to fund their negative cash flows. Even those who are making money rarely have any liquid investments because entrepreneurs are always looking for new ventures, which of course, need funding.

One of the most difficult tasks I face is persuading a successful entrepreneur to take some hard-earned “chips” off the table and sock away a low-risk, diversified nest egg to assure a comfortable retirement. The only ones I’ve convinced to do that were older entrepreneurs who had owned their companies for well over 15 years and were under five years from retirement. All the younger entrepreneurs to whom I have given that advice have refused the notion. All have eventually lost 75% to 90% of their net worth and, sadly, the opportunity to secure their future.

The entrepreneurial mindset of determination and perseverance can bring significant financial rewards. Expanding that mindset to include a broader, more diversified view of investing for the future can turn those rewards into long-term financial independence.

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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