ESTIMATED ANNUAL MORBIDITY IN THE USA
By staff reporters
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Filed under: Drugs and Pharma | Tagged: corona, Covid-19, pandemic | 1 Comment »
ESTIMATED ANNUAL MORBIDITY IN THE USA
By staff reporters
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Filed under: Drugs and Pharma | Tagged: corona, Covid-19, pandemic | 1 Comment »
2021 Annual [Faux] Registration Letter
By Staff reporters
Below is a copy of a letter that some colleagues and clients have been receiving and asking us about.
This letter is not from a government agency and is not real. See the sections highlighted in yellow.
Please do not pay anything to this company. Thanks!
We recently received this notice.
It is untrue.
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Filed under: Quality Initiatives, Risk Management | Tagged: faux business | Leave a comment »
Markets 101: How to Read Stock Indexes and Securities
By Alex Hickey of Morning Brew
Everything you need to know about the 3 top U.S. equities indexes plus gold, oil, and Treasury notes
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LINK:
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Filed under: Experts Invited, Investing | Tagged: Alex Hickey, Investing, Morning Brew, stock markets | Leave a comment »
The Difference
[By Anonymous]
One of the most important concepts in behavioral economics is that people react differently to gains and losses. An example from Hodja Nasreddin:
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“One day Nasreddin went to his neighbour and asked to borrow a large cooking pot. The neighbour obliged and Nasreddin promised to bring it back shortly. Weeks passed when the neighbour came by to remind Nasreddin about his pot.
Embarrassed, the hodja went inside and after a short time re-emerged with the pot. On handing it over there was a clanging sound inside upon which the neighbour lifted the lid to reveal a smaller pot inside. “Hodja, what is this?” He exclaimed. “Neighbour, it seems the pot you gave me was expecting and this is her young!” The neighbour gave the hodja a silent look and left with both pots.
Some time later Nasreddin again asked to borrow the pot and the neighbour happily obliged. Again weeks passed and the neighbour came again inquiring about his pot.
“Alas!” Nasreddin said, your dear pot passed on to the afterlife, please accept my condolences.”
“But hodja, how can a metal pot die?” said his neighbour whereupon Nasreddin hodja flew into a rage and yelled:”You had no trouble believing it gave birth but her death strikes you as incredible? Now begone, you rascal!
NOTE: Why backward? http://mullahnasruddin.com/?p=1927
Assessment: Your thoughts are appreciated.
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Filed under: Health Economics, Investing | Tagged: behavioral econmomics, Hodja Nasreddin | Leave a comment »
What it is – How it works?
[By staff reporters]
The term “Triple Entry Accounting,” was first used by Ian Grigg, financial cryptographer, and described in his paper published in 2005, three years before the emergence of Bitcoin and its underlying Blockchain protocol.
Here is the original historical article on “Triple Entry Accounting” by Grigg:
LINK: https://nakamotoinstitute.org/triple-entry-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.
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DOCTORS:
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HOSPITALS:
“Financial Management Strategies for Hospitals” https://tinyurl.com/yagu567d
“Operational Strategies for Clinics and Hospitals” https://tinyurl.com/y9avbrq5
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Filed under: Accounting | Tagged: Ian Grigg, triple entry accounting | Leave a comment »
The Attention a Problem Gets is Inverse to its’ Importance
Courtesy: http://www.CertifiedMedicalPlanner.org
By Dr. David Edward Marcinko MBA
Historian Cyril Parkinson’s wrote in his book Parkinson’s Law,
“The time spent on any item of the agenda will be in inverse proportion to the sum [of money] involved.”
EXAMPLE: Parkinson described a fictional finance committee with three tasks: approval of a $10 million nuclear reactor, $400 for an employee bike shed, and $20 for employee refreshments in the break room.
The committee approves the $10 million nuclear reactor immediately, because the number is too big to contextualize, alternatives are too daunting to consider, and no one on the committee is an expert in nuclear power.
Bike Shed Effect: The bike shed gets considerably more debate. Committee members argue whether a bike rack would suffice and whether a shed should be wood or aluminum, because they have some experience working with those materials at home.
Employee refreshments take up two-thirds of the debate, because everyone has a strong opinion on what’s the best coffee, the best cookies, the best chips, etc.
Absurd: The world is filled with these absurdities. In personal finance, Ramit Sethi recently said we should stop asking $3 questions (should I buy coffee?) and ask more $30,000 questions (should I buy a smaller home?). Most people don’t, because it’s hard and intimidating. In any given moment the easiest way to deal with a big problem is to ignore it and fill your time thinking about a smaller one.
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Assessment: Your thoughts and comments related to the Corona Virus Pandemic, meetings and time management and psychology are appreciated; especially the CARES Act.
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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS
THANK YOU
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Filed under: Glossary Terms, Investing, LifeStyle | Tagged: Cyril Parkinson, Parkinson’s Law of Triviality | Leave a comment »
At this special time of year, we give thanks for our clients and our employees, as well as all essential workers in hospitals, health centers and medical practices across the country.
May the holiday spirit be with you and your family throughout the season and everyday We look forward to serving you in 2021.
Thank You
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Filed under: iMBA, Inc., LifeStyle | Tagged: Merry Christmass | Leave a comment »
[You should read this]
Filed under: "Ask-an-Advisor", Information Technology | Tagged: Are Dentists Satisfied with their EDRs?, Darrell K. Pruitt DDS, EHRs | 1 Comment »
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Colleagues know that I enjoy personal coaching and public speaking and give as many talks each year as possible, at a variety of medical society and financial services conferences around the country and world.
These include lectures and visiting professorships at major academic centers, keynote lectures for hospitals, economic seminars and health systems, keynote lectures at city and statewide financial coalitions, and annual keynote lectures for a variety of internal yearly meetings.
Topics Link: imba-inc-firm-services
My Fond Farewell to Tuskegee University
And so, we appreciate your consideration.
THANK YOU!
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Filed under: Research & Development, Touring with Marcinko | Tagged: david marcinko, David Marcinko MBA, Dr. David E. Marcinko | Leave a comment »
Comparison with Commonalities
By Staff reporters
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Filed under: Drugs and Pharma | Tagged: BioNet, corona vaccine, corona virus, Moderna | 1 Comment »
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Filed under: LifeStyle | Tagged: Merry Christmass, X-Mass Emergency Room Joke | Leave a comment »
A Primer for Physician Investors and Medical Professionals
By: Dr. David Edward Marcinko; MBA, CMP™
[Editor-in-Chief] http://www.CertifiedMedicalPlanner.org
[PART 1 OF 8]
NOTE: This is an eight part ME-P series based on a weekend lecture I gave more than a decade ago to an interested group of graduate, business and medical school students. The material is a bit dated and some facts and specifics may have changed since then. But, the overall thought-leadership information of the essay remains interesting and informative. We trust you will enjoy it.
Introduction
The history, function and processes of the investment banking industry, and the rules and regulations of the securities industry and their respective markets, as well as the use of brokerage accounts, margin and debt, will be briefly reviewed in this ME-P series.
An understanding of these concepts is required of all doctors and medical professionals as they pursue a personal investment strategy.
INVESTMENT BANKING AND SECURITIES UNDERWRITING
New economy corporate events of the past several years have provided many financial signs and symptoms that indicate a creeping securitization of the for-profit healthcare industrial complex. Similarly, fixed income medical investors should understand how Federal and State regulations impact upon personal and public debt needs. For, without investment banking firms, it would be almost impossible for private industry, medical corporations and government to raise needed capital.
Introduction
When a corporation such as a physician practice management company (PPMC), or similar entity needs, to raise capital for growth or expansion, there are two methods. Raising debt or equity. If equity is used, the corporation can market securities directly to the public by contacting its current stockholders and asking them to purchase the new securities in a rights offering, by advertising or by hiring salespeople. Although this last example is somewhat exaggerated, it illustrates that there is a cost to selling new securities, which may be considerable if the firm itself undertakes the task.
For this reason, most corporations employ help in marketing new securities by using the services of investment bankers who sell new securities to the general public. Although the investment banking is an exciting and vital industry, many SEC rules regulating it are not. Nevertheless, it is important for all physician executives to understand basic concepts of the industry if raising public money is ever a possibility or anticipated goal. It is also important for individual healthcare investors to understand something about securities underwriting to reduce the likelihood of fraudulent investment schemes or ill-conceived transactions which ultimately result in monetary loss.
Fundamentals of the Investment Banking Industry
Investment bankers are not really bankers at all. The fact that the word banker appears in the name is partially responsible for the false impressions that exist in the medical community regarding the functions they perform.
For example, they are not permitted to accept deposit, provide checking accounts, or perform other activities normally construed to be commercial banking activities. An investment bank is simply a firm that specializes in helping other corporations obtain the money they need under the most advantageous terms possible.
When it comes to the actual process of having securities issued, the corporation approaches an investment banking firm, either directly, or through a competitive selection process and asks it to act as adviser and distributor. Investment bankers, or under writers, as they are sometimes called, are middlemen in the capital markets for corporate securities.
The medical corporation requiring the funds discuss the amount, type of security to be issued, price and other features of the security, as well as the cost to issuing the securities. All of these factors are negotiated in a process known as known as negotiated underwriting. If mutually acceptable terms are reached, the investment banking firm will be the middle man through which the securities are sold to the general public. Since such firms have many customers, they are able to sell new securities, without the costly search that individual corporations may require to sell its own security. Thus, although the firm in need of additional capital must pay for the service, it is usually able to raise the additional capital at less expense through the use of an investment banker, than by selling the securities itself.
The agreement between the investment banker and the corporation may be one of two types. The investment bank may agree to purchase, or underwrite, the entire issue of securities and to re-offer them to the general public. This is known as a firm commitment.
When an investment banker agrees to underwrite such a sale, it agrees to supply the corporation with a specified amount of money. The firm buys the securities with the intention to resell them. If it fails to sell the securities, the investment banker must still pay the agreed upon sum. Thus, the risk of selling rests with the underwriter and not with the company issuing the securities.
The alternative agreement is a best efforts agreement in which the investment banker makes his best effort to sell the securities acting on behalf of the issuer, but does not guarantee a specified amount of money will be raised.
When a corporation raises new capital through a public offering of stock, on might inquire from where does the stock come? The only source the corporation has is authorized, but previously un-issued stock. Anytime authorized, but previously un-issued stock (new stock) is issued to the public, it is known as a primary offering. If it’s the very first time the corporation is making the offering, it’s also known as the Initial Public Offering (IPO). Anytime there is a primary offering of stock, the issuing corporation is raising additional equity capital.
A secondary offering, or distribution, on the other hand, is defied as an offering of a large block of outstanding stock. Most frequently, a secondary offering is the sale of a large block of stock owned by one or more stockholders. It is stock that has previously been issued and is now being re-sold by investors. Another case would be when a corporation re-sells its treasury stock.
Prior to any further discussions of investment banking, there are several industry terms that’s should be defined.
For example, an agent buys or sells securities for the account and risk of another party, and charges a commission. In the securities business, the terms broker and agent are used synonymously. This is not true of the insurance industry.
On the other hand, a principal is one who acts as a dealer rather than an agent or broker. A dealer buys and sells for his own account Finally, the dealer makes money by buying at one price and selling at a higher price. Thus, it is easy to understand how an investment banking firm earns money handling a best efforts offering; they make a commission on every share they sell.

The Securities Act of 1933 (Act of Full Disclosure)
When a corporation makes a public offering of its stock, it is bound by the provisions of the Securities Act of 1933, which is also known as the Act of Full Disclosure. The primary requirement of the Act is that the corporation must file a registration statement (full disclosure) with the Securities and Exchange Commission (SEC); containing some of the following items:
Acting in its capacity as an adviser to the corporation, the investment banking firm files out the registration statement with the SEC. It then takes the SEC a period of time to review the information in the registration statement. This is the “cooling off period” and the issue is said to be “in registration” during this time. When the Act written in 1933, Congress thought that 20 days would be enough time from the filing date, until the effective date the sale of securities is permitted.
In reality, it frequently takes much longer than 20 days for the SEC to complete its review. But, regardless of how long it lasts, it’s known as the cooling off period. At the end of the cooling off period, the SEC will either accept the issue or they will send a letter back to the issuer, and the underwriter, explaining that there is incomplete information in the registration statement. This letter is known as a deficiency letter. It will postpone the effectiveness of the registration statement until the deficiency is remedied. Even if initially, or eventually approved, an effective registration does not mean that the SEC has approved the issue.
For example, the following well known disclaimer statement written in bold red ink, is required to be placed in capital letters on the front cover page of every prospectus:
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THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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During the cooling off period, the investment bank tries to create interest in the market place for the issue. In order to do that, it distributes a preliminary prospectus, more commonly known as a “red herring”. It is known as a red herring because of the red lettering on the front page. The statement on the very top with the date is printed in red as well as the statements on the left hand margin of the preliminary prospectus.
The cost of printing the red herring is borne by the investment bank, since they are trying to market it.. The red herring includes information from the registration statement that will be most helpful for potential medical investors trying to make a decision. It describes the company and the securities to be issued; includes the firm’s financial statements; its current activities; the regulatory bodies to which it is subject; the nature of its competition; the management of the corporation, and what the expected proceeds will be used for. Two very important items missing from the red herring are the public offering price and the effective date of the issue, as neither are known for certain at this point in time.
The public offering price is generally determined on the date that the securities become effective for sale (effective date). Waiting until the last minute enables the investment bankers to price the new issue in line with current market conditions. Since the investment banker uses the red herring to try to create interest in the market place, stock brokers [aka: Registered Representatives (RRs) with a Series # 7 general securities license – After a 2 hour multiple-choice computerize test, I held this license for a decade ) will send copies of the red herring to their clients for whom they feel the issue is a suitable investment. The SEC is very strict on what can be said about an issue, in registration.
In fact, during the pre-filing period (the time when the negotiations are going on between the issuer\and underwriter), absolutely nothing can be said about it to anyone. For example, if the regulators find out that your stock broker discussed with you the fact that his firm was negotiating with an issuer for a possible public offering, he could be fined, or jailed.
During the cooling off period (the time when the red herring is being distributed), nothing may be sent to you; not a research report, nor a recommendation from another firm, or even the sales literature. The only thing you are permitted to receive is the red herring. The red herring is used to acquaint prospects with essential information about the offering. If you are interested in purchasing the security, then you will receive an “indication of interest”, but you can still not make a purchase or send money.
No sales may be made until the effective date; all that can be used to generate interest is the red herring.
More:
Seeking Authors for our new “Financial Planning for Doctors and Health Professionals” Textbook
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.
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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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Filed under: Investing, Portfolio Management, Touring with Marcinko | Tagged: Dr. David Edward Marcinko MBA, FINRA, INVESTMENT BANKING, IPO, margin, NASD, red herring, registered representatives, SEC, Securities Act of 1933, SECURITIES UNDERWRITING, Series # 7 general securities license | 2 Comments »
Defense versus Offense
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Filed under: Drugs and Pharma, Health Economics, iMBA, Inc. | Tagged: corona pandemic | 1 Comment »
The Need for Data Visualization
Courtesy: www.CertifiedMedicalPlanner.org
Anscombe’s Quartet comprises four data sets that have nearly identical simple descriptive statistics, yet have very different distributions and appear very different when graphed. Each dataset consists of eleven (x,y) points.
They were constructed in 1973 by the statistician Francis Anscombe to demonstrate both the importance of graphing data before analyzing it and the effect of outliers and other influential observations on statistical properties. He described the article as being intended to counter the impression among statisticians that “numerical calculations are exact, but graphs are rough.”
So, always plot that data!
Assessment: Your thoughts and comments are appreciated.
BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
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Filed under: Glossary Terms, Health Economics | Tagged: Anscombe's Quartet | Leave a comment »
COVID-19 and Long Term Care Facilities
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Filed under: Health Insurance | Tagged: Covid-19, LTC insurance, pandemic | Leave a comment »
WHAT’S IN IT – AND WHY?
By Un-Biased Science
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Filed under: Drugs and Pharma | Tagged: Covid vaccine, UnBiased Science | 2 Comments »
Not Inflation Protected
By Federal Register
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Filed under: Health Economics, Health Insurance, Health Law & Policy, iMBA, Inc. | Tagged: federal register, Physician Reimbursement | Leave a comment »
By NIHCM Foundation
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INVITATION:
https://medicalexecutivepost.com/dr-david-marcinkos-bookings/
Filed under: Experts Invited, LifeStyle | Tagged: happiness, Journal of Happiness Studies | Leave a comment »
Pandemic Mental Health
By NIHCM
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INVITE: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/
Filed under: Glossary Terms | Tagged: mental health | Leave a comment »
The Future of Digital Health***
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Open this article on LinkedIn to see what people are saying about this topic. Open on LinkedIn |
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Filed under: Events-Planner, Information Technology | Tagged: Bertalan Meskó, Digital Health, MD, PhD | Leave a comment »
THE BUSINESS OF MEDICAL PRACTICE AND HOSPITAL MANAGEMENT
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
1 – https://lnkd.in/ebWtzGg
2 – https://lnkd.in/ezkQMfR
3 – https://lnkd.in/ewJPTJs
HOSPITAL MANAGEMENT & BUSINESS TEXTS FOR PHYSICIANS AND CXOs:
1 – https://lnkd.in/eEf-xEH 2 – https://lnkd.in/e2ZmewQ
“DICTIONARY OF TERMS FOR THE BUSINESS OF MEDICINE”
DHEF: https://lnkd.in/dqdbWM9
DHIMC: https://lnkd.in/e9AmEhd
DHITS: https://lnkd.in/eWx3WjZ
MORE: https://lnkd.in/eVGcji5
THANK YOU
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Filed under: Financial Planning, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, iMBA, Inc. | Tagged: “Investment Planning for Financial Professionals” | Leave a comment »
COVID-19 [NIHCM]
By staff reporters
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Filed under: Drugs and Pharma, Glossary Terms, Health Economics, Health Insurance | Tagged: corona disparity, covid racism | 1 Comment »
Hypercytokinemia and Covid-19
By staff reporters
A cytokine storm, also called hypercytokinemia, is a physiological reaction in humans and other animals in which the innate immune system causes an uncontrolled and excessive release of pro-inflammatory signaling molecules called cytokines.
Normally, cytokines are part of the body’s immune response to infection, but their sudden release in large quantities can cause multisystem organ failure and death.
Cytokine storms can be caused by a number of infectious and non-infectious etiologies, especially viral respiratory infections such as H5N1 influenza, SARS-CoV-1, and SARS-CoV-2. Other causative agents include the Epstein-Barr virus, cytomegalovirus, and group A streptococcus, and non-infectious conditions such as graft-versus-host disease.
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Filed under: Drugs and Pharma, LifeStyle | Tagged: Cytokine Storm, hypercytokinemia, roid rage, steroids | 1 Comment »
Filed under: iMBA, Inc., Research & Development | Tagged: Marcinko | Leave a comment »
UPDATE
By staff reporters
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Filed under: Drugs and Pharma | Tagged: 23 Potential COVID-19 Drugs, corona, corona test accuracy, pandemic | 1 Comment »
EXACTLY WHAT IS THE PRODUCER PRICE INDEX [PPI]?
Courtesy: https://lnkd.in/eBf-4vY
ECONOMICS INFORMATION FOR PHYSICIAN COLLEAGUES
Web: https://lnkd.in/eVGcji5
DEFINITION: The PPI is a group of indexes that measure the change, over time, in the prices received by domestic producers of goods and services. It measures price changes from the perspective of the seller rather than the consumer, as with the CPI. The CPI would include imported goods, while the PPI is relevant to U.S. producers, and therefore would not include imports.
The PPI measures over 10,000 products and services. It reports the price changes prior to the retail level. This information is useful to the government in formulating fiscal and monetary policies. The data gathered from the PPI is often used in escalating purchase and sales contracts. That is the dollar amount to be paid at some time in the future.
NOTE: Long-term managed medical care contracts of the future will seek escalation clauses for increases in prices.
DHEF: https://lnkd.in/dqdbWM9
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
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Filed under: Financial Planning, iMBA, Inc. | Tagged: PPI, producer, Producer Price Index | Leave a comment »
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Filed under: Health Economics, Health Insurance, iMBA, Inc. | Tagged: ACOs, CMS, Value-Based care, VBID | Leave a comment »
INVITATION: https://lnkd.in/d2SefCY
SPEAKING TOPIC LIST: https://lnkd.in/e7WrDj9
MY “AVATAR”: https://lnkd.in/d6BU-TQ