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Black Friday and the Physician Micro-Economy

Is it Good for Retailers … but Bad for Doctors and Consumers!

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If Black Friday 2019 is anything like 2010, retailers are going to be swimming in cash while shoppers bathe in savings. Black Friday deals drew 212 million shoppers to stores in 2010 and collectively spent $39 billion on products and services.

And, the average amount spent by a Black Friday shopper in 2010 was a whopping $365.34.

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Assessment

We predict Black Friday 2019 sales will almost surpass all records with a slight increase over 2010 because of fewer shopping days.

But, is Black Friday good for the [healthcare] economics sector? Do patients go shopping rather than to the doctor?

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Happy Thanksgiving Day 2019

2019

x

The Medical Executive-Post

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A Test-Tube Turkey? That’ll Be $34,000

  Last year, Paul Mozdziak gave thanks that people are finally paying attention to his big idea: he wants to grow turkey meat in 5,000-gallon tanks.

An increasing number of companies are trying to grow other kinds of meat in the lab, but Mozdziak happens to “find a lot of beauty in turkeys.” His approach uses stem cells from a biopsy of turkey breast, which are grown in a warm broth of glucose and amino acids to build up muscle fibers. The potential is huge: theoretically, a single stem cell could undergo 75 generations of division in three months, forming enough muscle to manufacture 20 trillion turkey nuggets.

But such such efficiencies are yet to be met. Currently, a turkey-sized lump of white meat would require around $34,000 worth of growth serum. At Target, you can pick up a respectable frozen bird for $15. But the latter are intensively farmed. If Mozdziak can scale up production, as well as tweaking fat and protein ratios to make his turkey tasty, he could even win over some vegetarians at Thanksgiving.

MIT Technology Review

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451c2eae-e7a1-4de4-9968-d5a9e1ebbf27

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Giving Thanks for Thanksgiving Day Dinner Costs in 2019

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Dear World … and ME-P Readers,

A PRE-Thanksgiving Day Tribute for 2019

The Rational Optimist

Matt Ridley, a journalist referring to himself as the rational optimist, recently focused on all the reasons we are luckier than those who lived before us.

Here are some of the highlights of his research (click here to see his article in its entirety):

  • The average person on the planet earns roughly three times as much as he or she did 50 years ago, adjusted for inflation. If anything, this understates the improvement in living standards because it fails to take into account many of the incredible improvements in the things you can buy with that money. However rich you were in 1964 you had no computer, no mobile phone, no budget airline, no Prozac, no search engine, no gluten-free food. The world economy is still growing every year at a furious lick — faster than Britain grew during the industrial revolution. 
  • As for inequality, the world as a whole is getting rapidly more equal in income, because people in poor countries are getting richer at a more rapid pace than people in rich countries. That has now been true for two decades, but it has accelerated since the great recession. The GDP per capita of Mozambique is 60 percent higher than it was in 2008; that of Italy is 6 percent lower. A country like Mozambique has been out of the headlines recently – is back in  – and now you know why: things are mostly going right/wrong there. 
  • The amount of food available per head has gone up steadily on every continent, despite a doubling of the population. Famine is now very rare. 
  • The death rate from malaria is down by nearly 30 percent since the start of the century. HIV-related deaths are falling. Measles, yellow fever, diphtheria, cholera, typhoid, typhus — they killed our ancestors in droves, but they are now rare diseases. 
  • We think we are getting ever more selfish, but it is not true. We give more of our earnings to charity than our grandparents did.  
  • Violent crimes of almost all kinds are on the decline — murder, rape, theft, domestic violence. So are capital and corporal punishment and animal cruelty. We are less prejudiced about gender, homosexuality and race. Paedophilia is no more prevalent, just hushed up less.Morgan Housel, columnist at Motley Fool, also recently wrote a column titled “50 Reasons We’re Living Through the Greatest Period in World History.” Mr. Housel notes that we tend to ignore progress, which is the really important news because it happens slowly, but we obsess over trivial news because it happens all day long.

Here are some of my favorite thoughts from the article (click here to view the entire piece).

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Love Life

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The Motley Fool

  • In 1900, 1% of American women giving birth died in labor. Today, the five-year mortality rate for localized breast cancer is 1.2%. Being pregnant 100 years ago was almost as dangerous as having breast cancer is today.
  • U.S. life expectancy at birth was 39 years in 1800, 49 years in 1900, 68 years in 1950, and 79 years today. The average newborn today can expect to live an entire generation longer than his great-grandparents could. The average American now retires at age 62. Enjoy your golden years — your ancestors didn’t get any of them. 
  • Infant mortality in America has dropped from 58 per 1,000 births in 1933 to less than six per 1,000 births in 2010, according to the World Health Organization. In 1952, 38,000 people contracted polio in America alone, according to the Centers for Disease Control. In 2012, there were fewer than 300 reported cases of polio in the entire world. The death rate from strokes has declined by 75% since the 1960s, according to the National Institutes of Health. Death from heart attacks has plunged too.
  • According to the Federal Reserve, the number of lifetime years spent in leisure — retirement plus time off during your working years — rose from 11 years in 1870 to 35 years by 1990. Given the rise in life expectancy, it’s probably close to 40 years today. Which is amazing: The average American spends nearly half his life in leisure. If you had told this to the average American 100 years ago, that person would have considered you wealthy beyond imagination.
  • Worldwide deaths from battle have plunged from 300 per 100,000 people during World War II, to the low teens during the 1970s, to less than 10 in the 1980s, to fewer than one in the 21st century, according to Harvard professor Steven Pinker. “War really is going out of style,” he says. 
  • According to the Census Bureau, only one in 10 American homes had air conditioning in 1960. That rose to 49% in 1973, and 89% today — the 11% that don’t are mostly in cold climates. Simple improvements like this have changed our lives in immeasurable ways. 
  • In 1900, African Americans had an illiteracy rate of nearly 45%, according to the Census Bureau. Today, it’s statistically close to zero. In 1940, less than 5% of the adult population held a bachelor’s degree or higher. By 2012, more than 30% did, according to the Census Bureau. 
  • The average American work week has declined from 66 hours in 1850, to 51 hours in 1909, to 34.8 hours today, according to the Federal Reserve. Enjoy your weekend. 
  • More than 40% of adults smoked in 1965, according to the Centers for Disease Control. By 2011, 19% did.
  •  The percentage of Americans age 65 and older who live in poverty has dropped from nearly 30% in 1966 to less than 10% by 2010. For the elderly, the war on poverty has pretty much been won. 
  • If you think Americans aren’t prepared for retirement today, you should have seen what it was like a century ago. In 1900, 65% of men over age 65 were still in the labor force. By 2010, that figure was down to 22%. The entire concept of retirement is unique to the past few decades. Half a century ago, most Americans worked until they died. 
  • No one has died from a new nuclear weapon attack since 1945. If you went back to 1950 and asked the world’s smartest political scientists, they would have told you the odds of seeing that happen would be close to 0%. You don’t have to be very imaginative to think that the most important news story of the past 70 years is what didn’t happen. Congratulations, world.
  • You need an annual income of $34,000 a year to be in the richest 1% of the world, according to World Bank economist Branko Milanovic’s 2010 book “The Haves and the Have-Nots.” To be in the top half of the globe you need to earn just $1,225 a year. For the top 20%, it’s $5,000 per year. Enter the top 10% with $12,000 a year. To be included in the top 0.1% requires an annual income of $70,000. America’s poorest are some of the world’s richest.
  • Only 4% of humans get to live in America. Odds are you’re one of them. We’ve got it made. Be thankful.

Conclusion

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UNDERSTANDNG THE “KEPLER THEOREM”

UNDERSTANDNG THE “KEPLER THEOREM”

Courtesy: www.CertifiedMedicalPlanner.org

According to Wikipedia, the Kepler conjecture, named after the 17th-century mathematician and astronomer Johannes Kepler, is a mathematical theorem about sphere packing in three-dimensional Euclidean space. It states that no arrangement of equally sized spheres filling space has a greater average density than that of the cubic close packing (face-centered cubic) and hexagonal close packing arrangements. The density of these arrangements is around 74.05%.

In 1998 Thomas Hales, following an approach suggested by Fejes Tóth (1953), announced that he had a proof of the Kepler conjecture. Hales’ proof is a proof by exhaustion involving the checking of many individual cases using complex computer calculations. Referees said that they were “99% certain” of the correctness of Hales’ proof, and the Kepler conjecture was accepted as a theorem. In 2014, the Flyspeck project team, headed by Hales, announced the completion of a formal proof of the Kepler conjecture using a combination of the Isabelle and HOL Light proof assistants.

In 2017, the formal proof was accepted by the journal Forum of Mathematics, Pi

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PODCAST: https://www.bing.com/videos/search?q=Kepler+Theorem&&view=detail&mid=1A1D9AE369C3DC6BE5A11A1D9AE369C3DC6BE5A1&&FORM=VRDGAR

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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SIMPSON’S PARADOX IN MEDICINE

SIMPSON’S PARADOX IN MEDICINE – EXPLAINED

Courtesy: www.CertifiedMedicalPlanner.org

Simpson’s paradox (or Simpson’s reversal, Yule–Simpson effect, amalgamation paradox, or reversal paradox) is a phenomenon in probability and statistics, in which a trend appears in several different groups of data but disappears or reverses when these groups are combined.

This result is often encountered in social-science and medical-science statistics and is particularly problematic when frequency data is unduly given causal interpretations. The paradox can be resolved when causal relations are appropriately addressed in the statistical modeling.

Simpson’s paradox has been used as an exemplar to illustrate to the non-specialist or public audience the kind of misleading results misapplied statistics can generate. Martin Gardner wrote a popular account of Simpson’s paradox in his March 1976 Mathematical Games column in Scientific American.

Edward H. Simpson first described this phenomenon in a technical paper in 1951, but the statisticians Karl Pearson et al., in 1899, and Udny Yule, in 1903, had mentioned similar effects earlier. The name Simpson’s paradox was introduced by Colin R. Blyth in 1972.

PODCAST: https://www.bing.com/videos/search?q=simpson%27s+paradox+in+medicine&&view=detail&mid=D80F8B9CCFB3034D6DFCD80F8B9CCFB3034D6DFC&&FORM=VRDGAR

Your thoughts are appreciated.

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1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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Health Plan Premium Increases

Projections 2020

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.

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

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

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

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2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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AMA TO TEACH MEDICAL STUDENTS ABOUT HEALTH ECONOMICS?

AMA TO TEACH MEDICAL STUDENTS ABOUT HEALTH ECONOMICS?

Courtesy: www.CertifiedMedicalPlanner.org

LINK: https://medicalexecutivepost.com/2009/06/08/dictionary-of-health-economics-and-finance/

Did you know that the American Medical Association is calling on medical schools and residency programs to include specific information about healthcare economics and financing in their curriculums.

But, is health economics heterodoxic, or not? And; what about demand-derived economics in medicine?

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economic freedom

LINKS

ESSAY: https://medicalexecutivepost.com/2019/08/31/is-health-economics-heterodoxic-or-not/

ESSAY: https://www.modernhealthcare.com/education/ama-adopts-new-policy-training-physicians-healthcare-economics

MORE: https://medicalexecutivepost.com/2019/11/10/ricardian-derived-demand-economics-in-medicine/

MORE: https://medicalexecutivepost.com/2014/08/27/financial-and-health-economics-benchmarking/

MORE: https://healthcarefinancials.files.wordpress.com/2019/01/big-data.pdf

PODCAST: https://vimeo.com/ihe

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

Investing in Financial Counseling

Investing in Financial Counseling

By Rick Kahker MSFS CFP

As a long-time advocate of blending financial planning with counseling, I’ve had years of seeing the benefit for clients. I have come to see financial counseling as an investment: one that can pay greater dividends than investments in a home, retirement account, or college education.

How can this be the case?

Mostly because making good financial decisions is the foundation of financial and emotional well-being. Most financial and many emotional problems result from disordered and dysfunctional money beliefs and behaviors. Money disorders can impair people’s functioning and disrupt their well-being just as significantly as disorders like alcoholism or other addictions.

Some common disordered money behaviors include the following:

• Compulsive Spending is a consuming focus on buying. It can include buying things you can’t afford as well as “retail therapy” shopping where no money is actually spent. It can mean you underfund emergency reserves and don’t adequately set aside enough for retirement.

• Financial Enabling is an attempt to meet your emotional needs by “helping” others, which usually does more harm than good. A pattern of bailing kids out financially is a good example. Enabling can financially harm the parent by diverting resources from other needs and sabotage the child by rewarding dependency and entitlement thinking.

• Hoarding is compulsively buying and storing things that you don’t need or will never use.

• Financial Infidelity is keeping money secrets (such as spending, saving, or investment mistakes) from your partner because you would be ashamed to have them find out.

• Inappropriate Financial Boundaries is sharing of worries or financial details in ways that violate the boundaries between children and adults.

• Workaholism is a consuming focus on work or earning to a point of damaging your relationships.

• Underspending is frugality taken to extremes, such as inadequate spending on health care, nutrition, shelter, or clothing even when you can afford them.

All these disordered financial behaviors have one thing in common: fundamentally, they aren’t about the money. They are often an unconscious response to emotional pain, in the same way addiction or anger might be. The disordered financial behavior may be a medicator that works to deaden deep emotional stress and painful emotions. While one person may find relief in alcohol or drugs and another may find it in work, someone else might use shopping, saving, or financial enabling as a way to feel better and function in the world.

Just like addictions, however, disordered financial behaviors only relieve pain for a short time. Eventually, the pain returns, sometimes even stronger. The result is an escalating cycle of destructive behavior that has many negative consequences, including financial.

To see the link between emotional health and financial health, just read a celebrity magazine or observe people you know. I’ve seen high-earning professionals who have a negative net worth because they can’t control their spending. You probably know people who bounce from one financial mess to another, never seeming to learn from their money mistakes. Some very capable and intelligent people struggle financially and in their careers because of emotional issues.

For most people experiencing financial problems, financial counseling to resolve emotional issues is a low-priority expense that comes far down the list after basic needs like housing, food, and transportation. Yet for anyone who struggles to overcome destructive patterns of behavior—even those that aren’t directly about money—counseling can pay off in very real monetary ways.

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mind-investing-behavioral-finance

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Assessment

Emotionally healthy and confident people make better choices about relationships, careers, and other major aspects of their lives. They also make better choices about money. This is why financial counseling is more than an investment in your emotional health. It can also make a measurable difference in your financial wealth.

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

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2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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My Interview with Danielle Town

My Interview with Danielle Town

By Vitaliy Katsenelson, CFA

Today I’d like to share with you an interview I did with my friend Danielle Town. Danielle is coauthor of Invested and runs the Rule #1 Finance blog with her father, Phil Town.

Danielle put me on the proverbial podcast couch; and though originally we were going to talk about investing, well, we talked about everything but investing. We ended up delving into many personal topics I rarely discuss. I went down memory lane about growing up in Soviet Russia, my family’s immigration to the US in 1991 and our first years in the US, my parents’ attitude towards money, budgeting, creativity, sleep, writing, a book I am working on, and more.

This interview ran so long it was broken up into two parts (Listen to Part 1 here and Part 2 here). I don’t think I could have done this interview talking to a stranger. It turned into a conversation between friends.

We decided that we are going to go back and talk about investing next time. Maybe we’ll do another interview when I see her in Switzerland in January, where we’ll both attend VALUEx Klosters.

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

National HIV Testing Week 2019

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Alert

[By Dr. David Edward Marcinko MBA]

DEM white shirtDear ME-P Readers, Visitors and Subscribers,

Come to the Mütter Museum  for World AIDS Day; 2019.

I went to medical school in Philadelphia PA, and visited the Mutter Museum many times. If you’ve never been there – I urge you to check it out!

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A Full day of activities and evening lecture is planned.

Get involved! #Repost @hip2know with @repostapp

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tumblr_nphlbi1edZ1qz50r6o1_500

 By muttermuseum on Instagram

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HIV

 By muttermuseum on Instagram

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Assessment

Plan your visit today! #muttermuseum #vesalius #anatomy #medicine #rarebooks”

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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?

ME-P

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

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.

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

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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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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Help a Veteran with “Pro Bono” Medical Care -OR- Financial Planning Advice

Join Our Mailing List 

[By Staff Reporters]

As a doctor, you have a unique position in society and the ability to help your fellow man/woman during the most frail, jubilant and sacred times of human life; even unto the end.

HELP a Veteran today!

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Veteran's Day 2012

VETERAN’S DAY 2019

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Assessment

Similarly, as a financial advisor, you have a unique position in society and the ability to help your fellow man/woman during their most financially fragile times of life; even unto the end.

So, be a fiduciary advisor; not just a Registered Representative, commissioned sales person, or agent.

HELP a Veteran today!

More: Are You Providing Pro Bono Financial Advice? [Voting Poll and Survey]

MORE: VA Cost Accounting

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™

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Although this book targets physicians, I was pleased to see that it also addressed the risk management, financial planning and employment benefit needs of nurses; physical, respiratory, and occupational therapists; CRNAs, hospitalists, and other members of the health care team….highly readable, practical, and understandable.

Captain CASH Unit Iraq [retired] – Cecelia T. Perez RN [Hospital Operating Room Manager, Ellicott City, Maryland

perez-x-mass

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On David Ricardo and “Derived-Demand” Health Economics in Medicine?

On Ricardian Derived Demand – Does it Even Exist?

Courtesy: www.CertifiedMedicalPlanner.org

What it is – How it works

In economics, derived demand is demand for a factor of production or intermediate good that occurs as a result of the demand for another intermediate or final good. In essence, the demand for one is dependent on that whose demand its’ demand is derived from www.HealthDictionarySeries.org

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For example, if the demand for a good such as cars increases, then this leads to an increase in the demand for iron ore.

OR

For example, if the demand for a good such as wheat increases, then this leads to an increase in the demand for labor.

Medicine

So, what about medicine? Saurabh Jha gives us some insight right here!

ESSAY: http://thehealthcareblog.com/blog/2018/08/30/is-medical-imaging-a-ricardian-derived-demand/

RELATED: big data

Your thoughts are appreciated.

MORE INVESTING FOR DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

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Product DetailsProduct Details

Alternative Medical Payment Models

ADOPTION RATES: FYI – 2018

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.

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

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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Product DetailsProduct Details

INVITE A PHYSICIAN – FINANCIAL ADVISOR TO YOUR NEXT EVENT

INVITE A PHYSICIAN & TRUSTED FINANCIAL ADVISOR COLLEAGUE TO YOUR NEXT SEMINAR, MEETING OR EVENT

Courtesy: https://lnkd.in/eBf-4vY

Dr. David E. Marcinko MBA CMP®

Your Audience Deserves a Nationally Known Speaker and Colleague.

[Professor Dr. David E. Marcinko MBA CMP® is Now at Your Service]

CONTACT: Ann Miller RN MHA

THANK YOU

avatar-of-dr-marcinko-speaking

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Physician Insurance Payments 2019 – AMA

Private Insurors VERSUS Medicare and Medicaid

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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.

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

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

***

Product DetailsProduct Details

What is a Quality-Adjusted Life Year?

A Generic Obscure Measure

By Dr. David E. Marcinko MBA

http://www.CertifiedMedicalPlanner.org

The quality-adjusted life year or quality-adjusted life-year (QALY) is a generic measure of disease burden, including both the quality and the quantity of life lived.

It is used in economic evaluation to assess the value for money of medical interventions. One QALY equates to one year in perfect health. If an individual’s health is below this maximum, QALYs are accrued at a rate of less than 1 per year.

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

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ASSESSMENT: To be dead is associated with 0 QALYs. QALYs can be used to inform personal decisions, to evaluate programs, and to set priorities for future programs

MORE: http://www.msn.com/en-us/money/healthcare/obscure-model-puts-a-price-on-good-health-and-drives-down-drug-costs/ar-AAJP8Nm?li=BBnbfcN

VIDEO: https://www.youtube.com/watch?v=OTmXnv2RAHw

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.

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

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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Product DetailsProduct Details

What is Hermeneutics?

To Understand … and be Understood

By Dr. David E. Marcinko MBA

Hermeneutics (/ˌhɜːrməˈnjuːtɪks/) is the theory and methodology of interpretation, originally the interpretation of biblical texts, wisdom literature, and philosophical texts.

Hermeneutics is more than interpretive principles or methods we resort to when immediate comprehension fails. Rather, hermenetics is the art of understanding and of making oneself understood.

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MORE: https://medium.com/@danpantelo/hermeneutics-why-people-interpret-things-differently-870f35436fe8

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.

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

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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HDS

Product Details      Product Details

Product Details

Prevent Stroke

Quit – Control – Manage

By WHO

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MORE:

shen_2019_oi_190314

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Healthcare in Non-Traditional Locations?

FY: 2018-2019

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.

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

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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Product DetailsProduct Details

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