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    Dr. Marcinko is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; as well as Oglethorpe University and Emory University in Georgia, the Atlanta Hospital & Medical Center; Kellogg-Keller Graduate School of Business and Management in Chicago, and the Aachen City University Hospital, Koln-Germany. He became one of the most innovative global thought leaders in medical business entrepreneurship today by leveraging and adding value with strategies to grow revenues and EBITDA while reducing non-essential expenditures and improving dated operational in-efficiencies.

    Professor David Marcinko was a board certified surgical fellow, hospital medical staff President, public and population health advocate, and Chief Executive & Education Officer with more than 425 published papers; 5,150 op-ed pieces and over 135+ domestic / international presentations to his credit; including the top ten [10] biggest drug, DME and pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published academic text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].

    Dr. David E. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner® who was named “Health Economist of the Year” in 2010. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics trade journals and publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News] etc.

    Later, Dr. Marcinko was a vital and recruited BOD  member of several innovative companies like Physicians Nexus, First Global Financial Advisors and the Physician Services Group Inc; as well as mentor and coach for Deloitte-Touche and other start-up firms in Silicon Valley, CA.

    As a state licensed life, P&C and health insurance agent; and dual SEC registered investment advisor and representative, Marcinko was Founding Dean of the fiduciary and niche focused CERTIFIED MEDICAL PLANNER® chartered professional designation education program; as well as Chief Editor of the three print format HEALTH DICTIONARY SERIES® and online Wiki Project.

    Dr. David E. Marcinko’s professional memberships included: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA, FPA and HIMSS. He was a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.

    Marcinko is “ex-officio” and R&D Scholar-on-Sabbatical for iMBA, Inc. who was recently appointed to the MedBlob® [military encrypted medical data warehouse and health information exchange] Advisory Board.

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Value Investing as Oil Gets Cheaper

As Oil Gets Cheaper – What Would Ben Graham Do?

By Vitaliy Katsenelson CFA

In terms of excitement, investing usually rivals watching paint dry. This has not been the case lately.

LINKOil Gets Cheaper – What Would Ben Graham Do?

Risk Management, Liability Insurance, and Asset Protection Strategies 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™

 

 

FREE FINANCIAL & BUSINESS ADVISORY CONSULTATIONS

iMBA IS NOW OFFERING FREE FINANCIAL & BUSINESS ADVISORY CONSULTATIONS

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By Ann Miller RN MHA CMP®
[Executive Director]
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The Institute of Medical Business Advisors [iMBA, Inc] is now offering free 30 minute phone or Skype® video consultations and second opinions to physicians, nurses and medical colleagues, on a limited scheduling and time basis, during the current Corona Virus outbreak 24/7.
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According to Professor and CEO Dr. David Edward Marcinko MBA, “this is our small way to help give back to colleagues who are so clinically vital to the US public health system and wellness of the country.” Topics include a plethora of personal financial planning and / or medical practice management business issues.
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SCHEDULE A CONSULT:
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
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FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
THANK YOU
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Be Aware of Your Cognitive Biases!

Top Fifty [50] to Know

[By staff reporters]

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Assessment: Your thoughts are appreciated.

THANK YOU

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Product DetailsProduct Details

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Donor Beware!

Cautious Corporate Giving?

[By staff reporters]

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NOTE: This chart has not been independently verified by us.

Assessment: Your thoughts are appreciated.

THANK YOU

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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The Health Care “DISRUPTORS”

A NEW I.P.O

BY HEALTH CAPITAL CONSULTANTS, LLC

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On January 30, 2020, 1Life Healthcare, Inc. (One Medical) went public, opening at $14 per share, and closing at $22.07 per share. The innovative San Francisco-based direct primary care organization more closely resembles a technology start-up than a traditional healthcare organization.

The membership model service provides “seamless access” to primary care services at “calming offices,” 24/7 virtual care, and 21st century technology (e.g., a mobile application that allows patients to schedule appointments and message their provider).

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HEALTH CARE DISRUPTIVE INNOVATORS

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A new report from our colleagues over at Health Capital Consultants, LLC:

LINK: https://www.healthcapital.com/hcc/newsletter/02_20/HTML/IPO/convert_ipo_hc_topics.php#_edn4

ASSESSMENT: Your thoughts are appreciated.

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Product DetailsProduct Details

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What is the WAFFLE HOUSE Index?

mm! mm! GOOD!

Courtesy: www.CertifiedMedicalPlanner.org

415 Restaurants Closing in Georgia and Elsewhere

The Waffle House Index [WHI] is an informal metric named after the Waffle House restaurant chain, headquartered in Georgia, and used by the Federal Emergency Management Agency (FEMA) to determine the effect of a storm and the likely scale of assistance required for disaster recovery.

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

IOW: “If you get there and the Waffle House is closed? Well, that’s really bad”, according to Craig Fugate – Former Head of the Federal Emergency Management Agency [FEMA].

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

QUERY: Have we hit the WHI wall regarding Covid-19?

PODCAST: https://www.yahoo.com/gma/waffle-house-index-unofficial-barometer-bad-things-dips-153600807–abc-news-topstories.html

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Assessment: And so, your thoughts and comments are appreciated.

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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

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2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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Early Covid-19 Testing Results

A Per-Capita Snapshot

[By staff reporters]

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THANK YOU

SHELTER-IN-PLACE?

What it is – How it works?

Courtesy: www.CertifiedMedicalPlanner.org

“Shelter-in-Place” means to seek safety within the building one already occupies, rather than to evacuate the area or seek a community emergency shelter.

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

The American Red Cross says the warning is issued when “chemical, biological, or radiological contaminants may be released accidentally or intentionally into the environment” and residents should “select a small, interior room, with no or few windows, taking refuge there.”

LINK: https://www.redcross.org/get-help/how-to-prepare-for-emergencies/make-a-plan.html

And now, the term is being applied to the Corona Virus?

PODCAST: https://www.bing.com/videos/search?q=shelter+in+place+guidelines&ru=%2fvideos%2fsearch%3fq%3dshelter%2520in%2520place%2520guidelines%26qs%3dSC%26form%3dQBVR%26sp%3d2%26pq%3dshelterin%2520place%26sk%3dSC1%26sc%3d8-15%26cvid%3d000A236DFD934AABAAEEEED387ED7CF9&view=detail&mid=D278D62B859D2B5DF00AD278D62B859D2B5DF00A&&FORM=VDRVRV

Yet, it is a politically contentious issue.

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sip

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LINK: https://www.msn.com/en-us/news/us/ny-gov-cuomo-says-no-to-new-york-citys-shelter-in-place-proposal/ar-BB11n0Yv?li=BBnbcA1&ocid=SK2LDHP

Assessment: Your thoughts and comments are appreciated.

THANK YOU

***

Product DetailsProduct DetailsProduct Details

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What Really is SOCIAL DISTANCING?

GET  BACK; JACK!

GET  BACK; JILL!

[By staff reporters]

With the podiums a safe social distance apart, Democratic candidates Bernie Sanders and Joe Biden debated a few days ago on how to respond to the coronavirus pandemic, the chances of a recession, and their handwashing techniques.

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Social distancing is a set of nonpharmaceutical infection control actions intended to stop or slow down the spread of a contagious disease. The objective of social distancing is to reduce the probability of contact between persons carrying an infection, and others who are not infected, so as to minimize disease transmission, morbidity and ultimately, mortality.

Social distancing is most effective when an infection can be transmitted via droplet contact (coughing or sneezing); direct physical contact, including sexual contact; indirect physical contact (e.g. by touching a contaminated surface such as a fomite); or airborne transmission (if the microorganism can survive in the air for long periods).

Social distancing may be less effective in cases where an infection is transmitted primarily via contaminated water or food or by vectors such as mosquitoes or other insects, and less frequently from person to person. Drawbacks of social distancing can include loneliness, reduced productivity, and the loss of other benefits associated with human interaction.

Historically, leper colonies and lazarettos were established as a means of preventing the spread of leprosy and other contagious diseases through social distancing, until transmission was understood and effective treatments invented.

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FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

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SO – EXACTLY WHAT IS A HUMAN SNEEZE?

About “STERNUTATION”

Courtesy: www.CertifiedMedicalPlanner.org

A Silly Question Until Covid-19!

A “Sternutation” is a sudden involuntary expulsion of air from the lungs through the nose and mouth due to irritation of the nasal passage.

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

A sneeze is not always related to an underlying medical condition. It may be caused by:

  • Nasal irritants (dust, pepper, pollen etc)
  • Sudden exposure to bright light
  • Breathing cold air
  • Object struck in nose.

Self-treatment helpful in some less- serious cases include:

  • Change the furnace or air conditioner filters
  • Do not have pets in the house if allergic to animal dander
  • Wash linens in very hot water (at least 130 degrees Fahrenheit) to kill dust mites
  • Vacuum and dust frequently
  • Use a good humidifier especially at night, if the air is too dry
  • Drink plenty of water if suffering from flu/common cold.

See a doctor if you notice the following :

  • Fever greater than 101.3 F (38.5 C)
  • Fever lasting five days or more or returning after a fever- free period
  • Shortness of breath
  • Wheezing
  • Severe sore throat, headache or sinus pain
  • Allergy does not resolves in a few days.

See a doctor immediately if you notice:

  • Sneezing is continuous
  • Causes severe ear pain, drowsiness.

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PODCAST: https://www.bing.com/videos/search?q=sneeze&&view=detail&mid=C4DA4CD281B4AD36C2A5C4DA4CD281B4AD36C2A5&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Dsneeze%26FORM%3DHDRSC3

VIDEO: https://www.msn.com/en-us/video/science/see-how-a-mask-affects-how-a-cough-travels/vi-BB13AQBH?ocid=SK2LDHP

Assessment: Your thoughts and comments are appreciated.

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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

Product DetailsProduct DetailsProduct Details

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WHAT IS THE PUBLIC HEALTH “NUMERATOR” & “DENOMINATOR”

What it is – How it works?

Courtesy: http://www.CertifiedMedicalPlanner.org

In public health epidemiology, while numerators are measures of health events, the denominator is the population from which events are drawn.

LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

For example, if we are measuring the incidence of Covid-19 among teens, who might comprise your denominator?

ANSWER: Any denominators used should be reflective of the population who could have been included in the numerator had they developed the condition of interest. This is the population at risk, and is often taken as the number of people who are disease-free at the start of data collection. If individuals who could not develop the condition of interest were included in the denominator, this would result in an underestimation of calculated rates.

*****epi

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PODCAST: https://www.coursera.org/lecture/epidemiology-tools/denominators-jnpaa

PODCAST: https://www.healthknowledge.org.uk/public-health-textbook/research-methods/1a-epidemiology/numerators-denominators-populations

Assessment: Your thoughts and comments are appreciated.

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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

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2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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***

Medical Laboratory Test SENSITIVITY “versus” SPECIFICITY

Obvious Covid-19 Implications

By Dr. David Edward Marcinko; MBA, CPHQ, CMP

cropped-dem

We’ve discussed biologic false positives and false negatives before on this ME-P.

LINK: https://medicalexecutivepost.com/2019/09/14/what-are-false-positive-and-false-negative-tests/

Courtesy: www.CertifiedMedicalPlanner.org

So, now is the time to discuss and conquer the medical laboratory concepts of Sensitivity and Specificity.

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Sensitivity and specificity are statistical measures of the performance of a binary classification test, also known in statistics as a classification function, that are widely used in medicine.

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

  • Sensitivity (also called the true positive rate, the recall, or probability of detection in some fields) measures the proportion of actual positives that are correctly identified as such (e.g., the percentage of sick people who are correctly identified as having the condition).
  • Specificity (also called the true negative rate) measures the proportion of actual negatives that are correctly identified as such (e.g., the percentage of healthy people who are correctly identified as not having the condition).

LINK: https://www.differencebetween.com/difference-between-sensitivity-and-vs-specificity/

NOTE: The terms “positive” and “negative” don’t refer to the value of the condition of interest, but to its presence or absence; the condition itself could be a disease, so that “positive” might mean “diseased”, while “negative” might mean “healthy”.

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And so, colleague Michael Lawrence Langan MD opines on a much deeper level.

ESSAY: https://disruptedphysician.blog/2016/11/19/diagnostic-testing-101-1-the-importance-of-sensitivity-specificity-and-diagnostic-test-accuracy-5/

Assessment: Your thoughts and comments are appreciated.

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Product DetailsProduct DetailsProduct Details

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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

MEDICAL SENSITIVITY “versus” MEDICAL SPECIFICITY

Covid-19 Implications?

cropped-dem
Dr. David E. Marcinko MBA
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Sensitivity and specificity are statistical measures of the performance of a binary classification test function widely used in medicine.
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• SENSITIVITY (true positive rate, recall, or probability of detection) measures the proportion of actual positives that are correctly identified (percentage of sick people identified as having the condition).
• SPECIFICITY (true negative rate) measures the proportion of actual negatives that are identified (percentage of healthy people identified as not having the condition). LINK: https://lnkd.in/eJqhQYc
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NOTE: “Positive” and “Negative” don’t refer to the value of the condition, but to its presence or absence; so that “positive” might mean “diseased”, while “negative” might mean “healthy”.
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ESSAY: https://lnkd.in/e_Wb6-d Your thoughts and comments are appreciated.
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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS
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THANK YOU
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Hand Washing Techniques for Public Health

Mitigating Covid–19 with Soap and Water

By staff reporters

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MORE: https://medicalexecutivepost.com/2011/12/06/celebrating-national-hand-washing-awareness-week-2011/

FACILITIES: https://medicalexecutivepost.com/2009/07/31/hand-washing-for-healthcare-facilities/

SURGICAL: https://www.bing.com/videos/search?q=surgical+scrub&&view=detail&mid=26877EB599539A1537E226877EB599539A1537E2&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Dsurgical%2Bscrub%26FORM%3DHDRSC3

Assessment: Your thoughts are appreciated

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Product DetailsProduct Details

THANK YOU

 

 

“Flattening the Curve” of COVID-19 Infections

WHAT IT IS – HOW IT WORKS?

Courtesy: www.CertifiedMedicalPlanner.org

Our message on Corona Virus so far has been “don’t panic.” For the vast majority of individuals, Corona Virus is not an existential threat.

However, the rapid rate of the virus’s spread has the potential to overwhelm our health system and cause a lot of problems.

And so, colleague Aaron E. Carroll MD MS explains the infection curve, right here.

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PODCAST: https://theincidentaleconomist.com/wordpress/flattening-the-curve-of-coronavirus-infections/

Assessment: Your thoughts and comments are appreciated.

covid-19-curvesv3

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

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2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Happy SAINT URHO’S Day

Happy Saint Urho’s Day on March 16th!

[By Staff reporters]

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Saint Urho is a fictional saint of Finland, created and elaborated by Finnish Americans.

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Finnish Americans comprise Americans with ancestral roots from Finland or Finnish people who emigrated to and reside in the United States. The Finnish American population numbered about 600,000 in the 1950s. To celebrate their heritage and pre-empted and extend celebrations of St. Patrick’s Day the day before.

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NOTE: Blue grapes denoted Finnish wine. Just as a green 4-leaf clover represented “good luck” on St. Patrick’s Day.

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

Assessment: Your thoughts and comments are appreciated.

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

The “IDES OF MARCH” and U.S. Debt Limits

BEWARE THE “IDES OFMARCH”

Courtesy:www.CertifiedMedicalPlanner.org

Debts and Settlement is Due

The Ides of March was a day in the Roman calendar that corresponds to 15 March. It was marked by several religious observances and was notable for the Romans as a deadline for settling debts.

In 44 BC, it became notorious as the date of the assassination of Julius Caesar which made the Ides of March a turning point in Roman history.

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

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DEBT: http://batr.org/autonomy/031417.html

Assessment: Your thoughts and comments are appreciated.

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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

BEWARE THE “DEAD CAT” STOCK MARKET BOUNCE?

DCB = What it Is AND How it Works?

Update Courtesy: www.CertifiedMedicalPlanner.org

In finance, a “Dead Cat Bounce” is a small, brief recovery in the price of a declining stock.

LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

Derived from the idea that “even a dead cat will bounce if it falls from a great height“, the phrase, which originated on Wall Street, is also popularly applied to any case where a subject experiences a brief resurgence during or following a severe market decline.

ESSAY: https://www.forbes.com/sites/chuckjones/2020/03/13/beware-of-a-dead-cat-bounce/#6c800aab2324

QUERY: But, does the DCB concept apply to entire stock ‘Bear” markets?

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PODCAST: https://www.bing.com/videos/search?q=dead+cat+bounce&&view=detail&mid=EF19382256D32E28CD76EF19382256D32E28CD76&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Ddead%2Bcat%2Bbounce%26FORM%3DHDRSC3

PODCAST: https://www.bing.com/videos/search?q=dead+cat+bounce&&view=detail&mid=2EC29B01AB2E4FEEE3E72EC29B01AB2E4FEEE3E7&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Ddead%2Bcat%2Bbounce%26FORM%3DHDRSC3

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

***

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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Happy “Pi” Day 2020

The Most Famous Number in History

[By Staff Reporters]

Pi Day is an annual celebration of the mathematical constant π. Pi Day is observed on March 14 since 3, 1, and 4 are the first three significant digits of π. In 2009, the United States House of Representatives supported the designation of Pi Day.

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PODCAST: https://www.bing.com/videos/search?q=pi+day&&view=detail&mid=9C324BD69AEEC8028C129C324BD69AEEC8028C12&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Dpi%2Bday%26FORM%3DHDRSC3

Assessment: Your thoughts and comments are appreciated.

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

Risk Management, Liability Insurance, and Asset Protection Strategies 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™

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Human Health Behavior TRENDS and COVID-19 Thoughts

Human Health Behavior and COVID-19 Thoughts

Courtesy: www.CertifiedMedicalPlanner.org

Here are 3 theories and 1 “rule” for the healthcare industrial complex that may help explain how the sector may not work correctly; from trauma, to epidemiology and  to Corona; all the time.

1 – Berkson’s Paradox: Strong correlations can fall apart when combined with a larger population.

For example, among motorcycle crash victims wearing helmets are more likely to be seriously injured than those not wearing helmets. But, that’s because most crash victims saved by helmets did not need to become hospital patients, and those without helmets are more likely to die before becoming a hospital patient.

2 – Group Attribution Error: Incorrectly assuming that the views of a group member, like a physician, reflect those of the whole group in a different discipline.

3 – Baader-Meinhof Phenomenon: Noticing an idea or word every where you look as soon as it’s brought to your attention in a way that makes you overestimate its prevalence.

***

LINK:

https://www.bing.com/videos/search?q=BAADER-MEINHOF+PHENOMENON&&view=detail&mid=7DA25E95466C56098E5A7DA25E95466C56098E5A&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3DBAADER-MEINHOF%2BPHENOMENON%26FORM%3DHDRSC3

The 90-9-1 Rule: In social media networks, 90% of users just read content, 9% of users contribute a little content, and 1% of users contribute almost all the content.

QUERY: Does Social Media really give a false impression of what ideas are popular or “average.”

THINK: Corona Virus?

ASSESSMENT: Your thoughts and comments are appreciated.

***

TEXTS FOR PHYSICIAN EXECUTIVES:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

THANK YOU

***

On Medical Office Fire Drills and Training

Office Fire Drills

By Dr. David E. Marcinko MBA

Fire Drills should be performed at least annually and documented.

When first opening an office or when a new employee is brought onboard, staff need to be trained on the use of a fire extinguisher, location of the nearest fire extinguisher and location of alarm pull station (if any) on the first day. Training should be documented and placed in the employee file.

Generally speaking, a fire extinguisher is required every 75 feet in office space and be the appropriate type for the nature of business and equipment in use. Most offices use a multi-purpose ABC extinguisher that can be used on most types of fires.

The types of fires are listed below:

  • Class A fires are for ordinary combustible materials such as paper, wood, cardboard, and most plastics.
  • Class B fires involve flammable or combustible liquids (gasoline, kerosene, oil, and grease).
  • Class C fires are those caused by electrical equipment (wiring, appliances, and outlets).
  • Class D fires are chemical fires that involve combustible metals i.e. potassium, sodium, and magnesium.

EXTINGUISHERS

Carbon Dioxide (CO2) extinguishers can be used for class B and C fires. These extinguishers are highly pressurized and are best suited for electrical or computer equipment. They have an advantage over dry chemical extinguishers for this use since they do not leave damaging residue. However, they are not effective for Class A fires.

It is important to know which type of extinguisher is best for the office and equipment since using the wrong type can be critical in an emergency.

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THE EMERGENCY LIST:

At a minimum, a physician office should have a safety program that addresses the following in the event of an emergency:

  1. Written Program
  2. Emergency Notification Procedures
  3. Warning and Evacuations Process
  4. Evacuation Procedures
  5. Facility/Department Evaluation or site review
  6. Means of egress clearly marked (map posted with exit route and nearest exit)
  7. Emergency Action Plan
  8. Fire Prevention Plan
  9. Fire extinguisher location(s), types and use (P.A.S.S. Pull, Aim, Spray & Sweep)

If you are in an area susceptible to weather emergencies such as tornadoes, the emergency plan should address these as well.

Assessment: Your thoughts are appreciated

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Product DetailsProduct Details

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Understanding the 2020 Corona Virus Economic Crisis

Understanding the 2020 Corona Virus Economic Crisis

By William Poole

Dear Dr. David E. Marcinko,

Thank you for your interest in the Merk Perspective.

Merk Senior Economic Adviser and former St. Louis Fed President William Poole shares his thoughts on how to assess the economic impact of the Corona virus, pointing out in what ways it is different from past crises.

There are several aspects of the crisis that deserve separate attention. Many will seem obvious but nonetheless need to be made explicit to yield a thorough analysis.

MORE: https://www.merkinvestments.com/insights/2020/2020-03-12.php?utm_source=merk&utm_medium=link&utm_campaign=merk-campaign&registered=yes

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Assessment: Your thoughts are appreciated.
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Best Wishes,

Axel Merk
President and Chief Investment Officer
Merk Investments

***

Risk Management, Liability Insurance, and Asset Protection Strategies 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™

 

Wall Street’s 2020 Price Targets

CIRCA: 12/23/2019

By YAHOO Finance!

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Wither the Experts?

Assessment: Your thoughts are appreciated.

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

***

WHAT IS A STOCK MARKET “CIRCUIT BREAKER?”

EXACTLY WHAT IS A STOCK MARKET “CIRCUIT BREAKER?”

cropped-dem

By Dr. David E. Marcinko MBA

Yesterday, within a few minutes of the open, the S&P dropped 7% triggering a Level 1 circuit breaker that paused trading for 15 minutes.

Had the S&P declined 13%, trading would’ve paused another 15 minutes.

Another 20% down and it would have closed.

HISTORY

  • Circuit breakers launched after 1987’s Black Monday when the Dow fell 22.6%.
  • In 2012, the markets closed because of Storm Sandy.
  • Rules were revamped in 2013 after failing to prevent 2010’s “flash crash.”

LINK: https://lnkd.in/eJNz355

And so, according to NYSE President Stacey Cunningham: “I’m seeing markets act normally. They react to uncertainty … they become more volatile.”

GOING FORWARD: Uncle Sam hasn’t yet enacted crisis measures like it did during the financial crisis. Regulators are more alert (take the Fed’s emergency rate cut and $50 billion infusion to its overnight lending). Banks appear to be in relatively good shape. Your thoughts and comments are appreciated.

Assessment: Your thoughts are appreciated.

***

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

Risk Management, Liability Insurance, and Asset Protection Strategies 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™

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A Health Care Spending Distribution

CIRCA: 2018

By http://www.MCOL.com

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Assessment: Your thoughts are appreciated.

Product DetailsProduct Details

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On Marketing, Advertising and Sales; etc.

Including Public Relations, Risk, Change and Crisis Management

By Dr. David Edward Marcinko MBA

Marketing is the business process of identifying, anticipating and satisfying customers’ needs and wants. It is your unique value proposition or strategic competitive advantage. Marketers can direct product to other businesses or directly to consumers.

Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services. Advertising is communicated through various mass media, including traditional media such as newspapers, magazines, television, radio, outdoor advertising or direct mail; and new media such as search results, blogs, social media, websites or text messages. The actual presentation of the message in a medium is referred to as an advertisement, or “ad” or advert for short.

Advertising is differentiated from public relations in that an advertiser pays for and has control over the message. It differs from personal selling in that the message is non-personal, i.e., not directed to a particular individual. We pay for advertising but pray for public relations.

Sales are activities related to selling or the number of goods or services sold in a given targeted time period. The seller, or the provider of the goods or services, completes a sale in response to an acquisition, appropriation, requisition, or a direct interaction with the buyer at the point of sale. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The seller, not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including salesclerk, shop assistant, and retail clerk.

Change management is the discipline that guides how we prepare, equip and support individuals to successfully adopt change in order to drive organizational success and outcomes.

Crisis management is the identification of threats to an organization and its stakeholders, and the methods used by the organization to deal with these threats.

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Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Assessment: Your thoughts are appreciated from a healthcare perspective.

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Product DetailsProduct DetailsProduct Details
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An Interest Rate Review for Physician-Executives

Managerial Accounting

By Dr. David E. Marcinko MBA

Recently, several major banking institutions have addressed the problem of escalating debt upon graduating physicians, mid-life practitioners and even seasoned healthcare providers; despite historically low rates for prime customers.

Unfortunately, one may still wonder how many clinicians truly appreciate the risks associated with usurious interest rates for homes, cars, medical equipment and other consumer items; as we offer the following review to reduce this peril.

WHITE-PAPER: IRs

Assessment: Your thoughts are appreciated.

***

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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Today is International Women’s Day

Courtesy: www.CertifiedMedicalPlanner,org

[By staff reporters]

IWD is now an official holiday in Afghanistan, Armenia, Azerbaijan, Belarus, Burkina Faso, Cambodia, China (for women only), Cuba, Georgia, Guinea-Bissau, Eritrea, Kazakhstan, Kyrgyzstan, Laos, Madagascar (for women only), Moldova, Mongolia, Montenegro, Nepal (for women only), Russia, Tajikistan, Turkmenistan, Uganda, Ukraine, Uzbekistan, Vietnam and Zambia.

The tradition sees men honoring their mothers, wives, girlfriends, colleagues, etc with flowers and small gifts. In some countries IWD has the equivalent status of Mother’s Day where children give small presents to their mothers and grandmothers.

ESSAY: https://medicalexecutivepost.com/2019/03/08/today-is-international-womens-day/

WORKPLACE: https://medicalexecutivepost.com/2011/11/06/sexual-harassment-in-the-workplace/

PREDATORS: https://medicalexecutivepost.com/2011/07/11/who-are-the-sexual-predators/

OIP

Assessment: Your thoughts are appreciated.

TEXTS FOR PHYSICIAN EXECUTIVES AND HOSPITAL CXOs:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

THANK YOU

***

Another CERTIFIED MEDICAL PLANNER® “In The News”

YAHOO Finance!

Courtesy: http://www.MedicalExecutivePost.com

“The extensive experience of our professional team allows us to implement a rigorous process to identify ‘Best in Class’ opportunities in our focus areas,” said Amaury Cifuentes CFP®, CMP® one of the firm’s founders. “We assist in providing capital, innovative solutions and strategic expertise to our portfolio throughout the investment cycle.”

LINK: www.CertifiedMedicalPlanner.org

The partners in the firm include:

Amaury Cifuentes, CFP®, CMP® has 30 years of experience in banking and finance; financial planning and investments with an emphasis on business lending, real estate and private investments. He is a Certified Medical Planner®, giving him an enhanced knowledge of the medical industry’s specific needs.

LINK: https://finance.yahoo.com/news/bluekey-wealth-advisors-announces-formation-150000988.html

Assessment: Your congratulations are appreciated.

TEXTS FOR PHYSICIAN EXECUTIVES AND HOSPITAL CXOs:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

***

TEXTS FOR PHYSICIANS AND ADVISORS

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™

THANK YOU

****

THE MEDICAL ROAD FROM “TRIPLE” TO “QUADRUPLE” AIM!

Where are the Physicians?

Courtesy: https://lnkd.in/eXux35G

The IHI Triple Aim is a framework developed by the “Institute for Healthcare Improvement” that describes an approach to optimizing health system performance. It is IHI’s belief that new designs must be developed to simultaneously pursue three dimensions, which are called the “Triple Aim”.

1- Improving patient experience of care (quality & satisfaction);

2- Improving the health of populations; and

3- Reducing the per capita cost of health care.

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TripleAim

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QUERY: But; what about the physicians; and the primary care doctor dearth? Where are they in this equation? M-4-A? Corona Virus treatment, etc?

PCP PODCAST: https://lnkd.in/erneRRg

IHI PODCAST: https://lnkd.in/ezrxPDy

Assessment: Your thoughts are appreciated.

***

TEXTS FOR PHYSICIAN EXECUTIVES AND HOSPITAL CXOs:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

THANK YOU

Product DetailsProduct Details

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The Impact of Coronavirus [Covid-19]

People, Economy and Your Portfolio

By Vitaliy Katsenelson CFA

The Coronavirus

I cannot tell you how much displeasure I have experienced from what I am about to say. I’ll be throwing around statistics of people dying as if I am talking not about people but widgets. My six-year-old daughter Mia Sarah had a garden-variety virus a few weeks ago. When my wife told me – a few minutes after I had been reading about coronavirus –for a second my heart sank, as virus to me meant coronavirus.

Even if Mia Sarah had coronavirus, the chances of survival were greatly in her favor. (Coronavirus, like the flu, is exponentially deadlier to older folks than younger ones). However, when it comes to your loved ones, statistics lose their meaning, and you start magnifying tiny probabilities into high-probability outcomes. The coronavirus statistics represent people’s loved ones, but I don’t know how else to write what I am about to write.

I am going to divide this letter into three sections: health and human impact (sometimes a tragic one), economic impact, and investment strategy.

***

LINK:

https://contrarianedge.com/the-impact-of-coronavirus-people-economy-your-portfolio/?utm_source=IMA++-+Main+Articles&utm_campaign=9bd771e575-CORONAVIRUS&utm_medium=email&utm_term=0_f1c90406d1-9bd771e575-55139025

Assessment: Your thoughts are appreciated.

***

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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Notable Industry Deaths [Dyson and Welch]

R.I.P Jack Welch and Freeman Dyson

By Dr. David E. Marcinko MBA

I studied both these management icons in business and graduate school. Then, I modified their ideas for my own medical practice and related corporate business entities.

Later, I ported their styles into the healthcare industrial complex and continue to stream line them into my academic professional university endeavors. Many thanks to you both! 

Freeman Dyson in his Own Words

LINK: https://www.technologyreview.com/s/615301/freeman-dyson-in-his-own-words/?utm_source=newsletters&utm_medium=email&utm_campaign=the_download.unpaid.engagement

Jack Welch, Legendary CEO of General Electric, Dies at Age 84

LINK: https://www.wsj.com/articles/jack-welch-legendary-ceo-of-general-electric-dies-at-age-84-11583158270

Assessment: Your thoughts are appreciated

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Product DetailsProduct Details

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What is Personal Protective Equipment?

WHAT IS: Personal Protective Equipment?

Courtesy: www.CertifiedMedicalPlanner.org

On “Level One” Infection Control Practices

By Dr. David E. Marcinko MBA

QUERY: We’ve been hearing about PPE since the start of the Corvid-19 epidemic. But, what is it; really? One of my B-School students recently asked me.

ANSWER: PPE is protective clothing, helmets, goggles, garments or equipment to protect one from injury. The hazards include physical, electrical, heat, chemicals, biological and airborne particulates. It may be worn for occupational safety, health purposes, sports and other recreational activities.

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

INFECTIONS: In terms of high consequence infectious disease control however; we must get a bit more granular in detail.

LINK: http://rcctelemetrytechniciancourse.blogspot.com/2016/03/infection-control-practices.html

HANDS: http://www.msn.com/en-us/health/medical/the-proper-way-to-wash-your-hands-according-to-the-cdc/ar-BB10wiMY?li=BBnb7Kz

PODCAST: https://www.bing.com/videos/search?q=ppe&view=detail&mid=D35783502836CD5DD3F2D35783502836CD5DD3F2&FORM=VIRE

Assessment: Your thoughts are appreciated.

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MORE: Call 1-800-CDC-INFO

THANK YOU

Product DetailsProduct DetailsProduct Details

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Another CERTIFIED MEDICAL PLANNER® “In The News”

ANOTHER CERTIFIED MEDICAL PLANNER® “IN THE NEWS”

Courtesy: https://lnkd.in/eVGcji5

“Informed Voice and Next-Gen of Physician Fiduciary Advisors”

AMAURY CIFUENTES CFP® CMP®

“The extensive experience of our professional team allows us to implement a rigorous process to identify ‘Best in Class’ opportunities in our focus areas. We assist in providing capital, innovative solutions and strategic expertise to our portfolio throughout the investment cycle.”

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

AMAURY has 30 years of experience in banking and finance; financial planning and investments with an emphasis on business lending, real estate and private investments. He is a licensed CERTIFIED MEDICAL PLANNER® giving him an enhanced knowledge of the medical industry’s specific needs.

PRESS RELEASE: https://lnkd.in/ecMbEsQ

CURRICULUM: https://lnkd.in/eMMbbVp

AUTOMATION: https://lnkd.in/eVp9Cji

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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™

THANK YOU

3 Theories on Human Behavior

Modern Corono Virus Thoughts?

By: http://www.CertifiedMedicalPlanner.org

Here are a few theories of human behavior for the healthcare industrial complex that might help explain how sector thoughts may not work correctly; all the time.

WHY: Perhaps they might be considered in light of the CorVid-19epidemic?

****

Erkson’s Paradox: Strong correlations can fall apart when combined with a larger population. For example, among motorcycle crash victims wearing helmets are more likely to be seriously injured than those not wearing helmets. But, that’s because most crash victims saved by helmets did not need to become hospital patients, and those without helmets are more likely to die before becoming a hospital patient.

Group Attribution Error: Incorrectly assuming that the views of a group member, like a physician, reflect those of the whole group in a different discipline.

***

***

Baader-Meinhof Phenomenon: Noticing an idea or word everywhere you look as soon as it’s brought to your attention in a way that makes you overestimate its prevalence.

LINK: https://www.bing.com/videos/search?q=BAADER-MEINHOF+PHENOMENON&&view=detail&mid=7DA25E95466C56098E5A7DA25E95466C56098E5A&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3DBAADER-MEINHOF%2BPHENOMENON%26FORM%3DHDRSC3

The 90-9-1 Rule: In social media networks, 90% of users just read content, 9% of users contribute a little content, and 1% of users contribute almost all the content.

QUERY: Does Social Media give a false impression of what ideas are popular or “average.”

ASSESSMENT: Your thoughts and comments are appreciated.

TEXTS FOR PHYSICIAN EXECUTIVES:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

THANK YOU

***

Product DetailsProduct DetailsProduct Details

***

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