PODCAST Year End 2021: Rich Helppie Interviews Dr. James R. Baker, Jr., M.D.

The Common Bridge

****

Entering the Last Chapter of Covid, From Omicron and Beyond – With Dr. James R. Baker, Jr., M.D.
Richard Helppie welcomes back University of Michigan Professor Emeritus of Internal Medicine, and Virologist, Dr. James R. Baker, Jr., M.D., who brings words of both encouragement and warning as the world comes to what he feels is the beginning of the final throws of the Covid-19 pandemic. 

Dr. Baker has been a valued guest on the Common Bridge since the beginnings of the coronavirus over a year ago, and brings thoughtful, scientific, data-driven analysis to the most significant health issue of our lifetime.

***

PODCAST: https://richardhelppie.com/james-baker/

***

***

***
COMMENTS APPRECIATED.

Thank You

***

What is “Clinical Equipoise” in Medicine?

Equipoise

[By staff reporters]

Clinical equipoise, also known as the principle of equipoise, provides the ethical basis for medical research that involves assigning patients to different treatment arms of a clinical trial.

The term was first used by Benjamin Freedman in 1987, although references to its use go back to 1795 by Dr. Edward Jenner. In short, clinical equipoise means that there is genuine uncertainty in the expert medical community over whether a treatment will be beneficial. This applies also for off-label treatments performed before or during their required clinical trials.

***

***

COMMENTS APPRECIATED

MORE:

https://www.ahajournals.org/doi/full/10.1161/CIRCRESAHA.116.309594

***

***

Stock Market Open New Year’s Eve 12/31/2021

Bond Markets to Close Early Friday

By Staff reporters

***

The stock market, buoyed by a Santa Claus rally and a banner year, will have one more day to extend its gains.

Both the New York Stock Exchange and NASDAQ will be open on New Year’s Eve. Bond markets will close early at 2 p.m. Friday.

The markets typically close on New Year’s Day but this year the holiday falls on a Saturday, when they would have shuttered anyway. Last week, the New York Stock Exchange and Nasdaq closed on Friday, Christmas Eve, in observance of Christmas, which also fell on a Saturday.

***

***

Does Crowd-Sourcing Democratize the Health Care / Insurance System?

Join Our Mailing List

Where Wall Street’s Legends and Financial-Technology Pioneers Unite

[By Dr. David Edward Marcinko MBA]

DEM white shirt

As a health insurance agent for more than a decade, certified planner and financial advisor for 15 years, medical provider for more than two decades; and Jesuit trained public health advocate throughout my entire career; I understand the concept of health, economic, education and working-class disparities. This includes utilitarianism, healthcare rationing and the allocation of scare resources [time, treasure, and talents] in society.

Yet, there is a new and emerging related ethical concept which no one seems to address. It appears to be a public “good”, but upon deeper reflection may achieve just the opposite effect as the law of unintended consequences takes sway.

So, am a “thought-leader” and early idea-adopter; or just a moral and philosophical luddite?

***

Today, we in the healthcare industrial complex stand on the precipice of our next frontier in finance – one that is aimed at instilling a culture of internet connectivity, crowd-sourcing and health care finance.

As opposed to relying on large private health insurance, state institutions and/or government entities like Medicare, Medicaid, SHIPS, and/or the PP-ACA for capital; SOME private citizens, non-insured patients, and even emerging business entities have begun turning directly to individual investors to fulfill their healthcare financing needs.

Shifting trends in mass communications, advancements in technology and regulatory overhauls have now made it possible to raise large sums of money by pooling it from the masses. This new “crowd-finance” constitution is not only resolving inefficiencies and inequality in conventional capital market business structure, it is empowering a new generation of retail products and trading platforms that are essentially reuniting the “people’s capital” with growth, yield and innovation. I believe this democratization is a good thing.

And, online marketplaces are presently revolutionizing the way people invest, and making it easier for the common-man-in-the street, patients, or other investor to obtain the yield typically swallowed by insurance and banking establishments as well as to access the deal flow previously only attainable through brokerage or insurance company relationships.

***

networks

***

For example, the SEC’s recent promulgation of Reg A+ coupled with a sound venture exchange framework is leading us toward a more level playing field for both smaller issuers and investors. Instead of serving as an exit strategy for the financially privileged, through Reg A+, the investing public will once again be able to partake in the appreciation of coveted growth stocks; or personal aggrandizement to pay off medical providers, hospitals, or insurance companies or various health insurance debts.

New micro-investing apps are now emerging to help even minute sums of capital invest in institutional-grade products via retirement vehicles – ultimately helping convert a nation of spenders into a nation of savers. OR, are they?

Here’s How?

Healthcare – The Moral Duty to Buy Health Insurance

Moral Duty to Buy Health Insurance

Click on this link to read it – Moral Duty to Buy Health Insurance

A warning against crowdsourcing your medical care on social media

A warning against crowdsourcing your medical care on social media

Assessment

And so; does crowd-sourcing REALLY democratize the health care / Insurance system? OR, does it promote a type of moral hazard, risk tolerance, or a certain loss of “herd-immunity” against the purchase or proper use of health insurance; when others are desperately trying to pursue personal responsibility.

In other words, insurance is based on the law-of-large-numbers. And, this idea may disrupt that mathematical actuarial concept; thus skewing the bell-shaped-curve and hurting us all.

***

Why Consumers Often Err in Choosing Health Plans

By AUSTIN FRAKT PhD

Evaluating health insurance plans can be daunting and confusing, and most people don’t get much guidance, research shows.

***

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:

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

***

Dr. David Edward Marcinko, editor-in-chief, is a next-generation apostle of Nobel Laureate Kenneth Joseph Arrow, PhD, as a health-care economist, insurance advisor, financial advisor, risk manager, and board-certified surgeon from Temple University in Philadelphia. In the past, he edited eight practice-management books, three medical textbooks and manuals in four languages, five financial planning yearbooks, dozens of interactive CD-ROMs, and three comprehensive health-care administration dictionaries. Internationally recognized for his clinical work, he is a distinguished visiting professor of surgery and a recipient of an honorary Bachelor of Medicine–Bachelor of Surgery (MBBS) degree from Marien Hospital in Aachen, Germany. He provides litigation support and expert witness testimony in state and federal court, with medical publications archived in the Library of Congress and the Library of Medicine at the National Institutes of Health.

***

PODCAST: Direct Healthcare Contracting

How it Works for Employers and Hospitals?

BY DR. ERIC BRICKER MD

***

***
COMMENTS APPRECIATED.

***

****

CITE: https://www.r2library.com/Resource/Title/082610254

***

RISK MANAGEMENT TEXT: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

Thank You

***

66% of Nurses Expressed Consideration to Leave The Profession

By staff reporters

***

66% of Nurses Expressed Consideration to Leave The Profession

A survey of 570 nurses between May and June 2021 found:

 •  66% of nurses expressed some level of consideration to leave the profession.
 •  97% of polled participants agree, that increases to pay rates and other incentives would attract and retain nurses.
 •  58% agree that tele-health should be a cornerstone of care delivery.
 •  85% believe that we must improve cross training to adapt to crisis events.
 •  85% strongly believe national licensure would have greatly benefited the country during the pandemic.

Source: Cross Country Healthcare via Businesswire, December 1, 2021

COMMENTS APPRECIATED.

Thank You

***

***

***

***

PODCAST: CIGNA Executive Public Relations “Whistle Blower”

Wendell Potter is a Famous Ex-Executive from Cigna Who Left His High Paying PR Job in 2007 to Reveal the True Story Behind Health Insurance Carrier Public Relations.

BY ERIC BRICKER MD

***

YOUR COMMENTS ARE APPRECIATED

***

***

COMMENTS APPRECIATED

***

Is Health Economics “Heterodoxic” -OR- Not?

A Real or False Linguistic Conundrum?

By Dr. David E. Marcinko MBA

Heterodox Economics

Heterodox Economics refers to methodologies or schools of economic thought that are considered outside of “mainstream economics”, often represented by expositors as contrasting with or going beyond neoclassical economics. “Heterodox economics” is an umbrella term used to cover various approaches, schools, or traditions.

***

***
Health Economics [not healthcare economics]
***
Health Economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. In broad terms, health economists study the functioning of healthcare systems and health-affecting behaviors such as smoking.
***
The “father” of health economics may just well be Ken Arrow, PhD.
***
Assessment: So, is health economics now mainstream; or still heterodoxic in 2019? OR, is the definitial conundrum just a matter of linguistics and terms-of-art. Your thoughts are appreciated.
***

Product DetailsProduct DetailsProduct Details

***

 

What is OBSERVATIONAL BIAS?

EVIDENCE BASED MEDICINE

By Staff Reporters

***

Observer bias occurs in research when the beliefs or expectations of an observer (or investigator) can influence the data that’s collected in a study.

Cite: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

***

Supporting Teachers: Reducing Observational Bias - TeacherToolkit

This causes the results of a study to be unreliable and hard to reproduce in other research settings.

IN MEDICINE: https://www.ebmconsult.com/articles/observational-bias-statistical-analysis

RISK MANAGEMENT: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

***

YOUR COMMENTS ARE APPRECIATED.

Thank You

***

INVESTMENT PORTFOLIO: More on Year End Mutual Fund “Window Dressing”

***

By Steve Selengut

December values may not be what they seem

NOTE: Mr. Selengut is a private investor and a contributing editor to LIFE&Health Advisor. He is the author of the book ‘The Brainwashing of the American Investor: The book that Wall Street does not want you to read.

***

As [physician] investors, and we all are investors these days, it is important that we understand the idiosyncrasies of year-end Stock Market activity. On Wall Street, investing can be a minefield for those who don’t appreciate the non-economic, non-business-model, factors contributing to the market value numbers in fourth quarter brokerage account summaries.

CITE: https://www.r2library.com/Resource/Title/0826102549

Year end market values may not be what they seem ….

“Portfolio Window Dressing” (PWD) produces security pricing that is more a function of next year’s institutional marketing programs than a reflection of the economic forces that we would like to think are their primary determining factors. Not even close…

Toward the end of every calendar quarter, we hear the financial media report that “institutional PWD activities” are in full swing. But that is as deep as the stories ever go. What are they talking about, and just what does it mean to you as an investor?

***

Stock Portfolio 'Window-Dressing' At Work As Investment Managers Sell  Unattractive Losers And Buy Trendy Winners

READ MORE: https://www.lifehealth.com/year-end-portfolio-window-dressing/

***

***
YOUR COMMENTS ARE APPRECIATED.

Thank You

***

PODCAST: Intentional Medical Practice Marketing

BY ENTREPRENEUR MD

Intentional and Not Reactive Medical Marketing

In this episode we talk about what it means to be intentional with your marketing.

****

See the source image

YOUR COMMENTS ARE APPRECIATED.

Thank You

***

*****

***

Hospital Settles False Claims Act Allegations for $18.2 Million

BY HEALTH CAPITAL CONSULTANTS, LLC

****

Hospital Settles False Claims Act Allegations for $18.2 Million


On December 2, 2021, the U.S. Department of Justice (DOJ) announced that it had entered into an $18.2 million settlement with Flower Mound Hospital, a 91-bed hospital located northwest of Dallas, to resolve claims that the hospital had violated the Stark Law, the Anti-Kickback Statute (AKS), and the False Claims Act (FCA) by making improper inducements to referring physicians. This Health Capital Topics article will review the facts underlying the settlement. (Read more…)

****

PODCAST: https://medicalexecutivepost.com/2021/08/28/podcast-stark-and-aks-final-rules/

COMMENTS APPRECIATED.

***

***

Thank You

***

***

Parkinson’s Law of Triviality in Time Management, Economics and Finance

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.

***

***

PODCAST: https://www.bing.com/videos/search?q=Parkinson%e2%80%99s+law+of+Triviality+&ru=%2fvideos%2fsearch%3fq%3dParkinson%25e2%2580%2599s%2blaw%2bof%2bTriviality%2b%26FORM%3dHDRSC3&view=detail&mid=68638E496B0523EA379368638E496B0523EA3793&&FORM=VDRVRV

Assessment: Your thoughts and comments related to the Corona Virus Pandemic, meetings and time management and psychology are appreciated; especially the CARES Act.

THANK YOU

***

PODCAST: How to Sell in Healthcare During the Pandemic

BY ERIC BRICKER MD

***

***

COMMENTS APPRECIATED.

Thank You

Marketing V. Advertising V. Sales: https://medicalexecutivepost.com/2020/03/09/on-marketing-adverting-and-sales/

***

***

The Five Pillars of Finance

A Solid Foundation for Investing

[By staff reporters]

***

***

Conclusion

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

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

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

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

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

HOSPITALS:

“Financial Management Strategies for Hospitals” https://tinyurl.com/yagu567d

“Operational Strategies for Clinics and Hospitals” https://tinyurl.com/y9avbrq5

***

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™

PODCAST: What is a “Leveraged” ETF?

WHAT IT IS – HOW IT WORKS

Traditional ETFs: https://medicalexecutivepost.com/2008/01/07/exchange-traded-funds-etfs/

Tax and ETFs: https://medicalexecutivepost.com/2008/01/11/etfs-and-tax-efficiency/

Leveraged DEFINITION:

Leveraged ETFs have received tremendous media attention and are proving to be extremely popular with both individual and institutional investors. There are hundreds of leveraged ETFs, covering virtually every asset class and industry sector. The majority are double-leveraged, but there’s a sizeable group of triple-leveraged ETFs.

For professional investors, leveraged ETFs are useful in statistical arbitrage, short-term tactical strategies, and for use as short-term hedges without the need to roll futures. For individual investors, leveraged ETFs are alluring because of the potential for higher returns.

Citation: https://www.r2library.com/Resource/Title/0826102549

Now, some physicians and Uninformed investors might assume that the leverage returns are generated on a continuous basis, so that if an underlying index is up 5% for a month, the double-leveraged ETF will be up 10% for the same month; if the index is up 10% for 6 months, the ETF will be up 20%, and so forth. That is absolutely not the case. The leverage is determined on a daily basis and the returns for any other period usually will not be double or triple the underlying index.

In order for the leveraged funds to achieve appropriate levels of assets so they can provide their implied leverage, they have to rebalance daily. In the case of an ETF providing long 2-times leveraged exposure, they would typically attain exposure to a notional set of assets equal to 2 times their NAV.

See the source image

Example: An example would be an ETF that takes in 100 units in assets that does a swap with a counterparty to provide exposure to 200 units in performing assets. The rebalancing activity of these funds will almost always be in the same direction as the market.

In essence, a leveraged ETF is essentially marked to market every night. It starts with a clean slate the next day, almost as if the previous day had not existed. This process produces daily leverage results. However, over time, the compounding of this reset can potentially vary the performance of the fund versus its underlying benchmark. This can result in either greater or lesser degrees of final leverage over individual holding periods.

PODCAST: https://www.investopedia.com/terms/l/leveraged-etf.asp

RELATED: https://smartasset.com/investing/what-is-a-leveraged-etf

ASSESSMENT: Your comments and thoughts are appreciated.

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

CONTACT: Ann Miller RN MHA

MarcinkoAdvisors@msn.com

Ph: 770-448-0769

Second Opinions: https://medicalexecutivepost.com/schedule-a-consultation/

DIY Textbooks: https://medicalexecutivepost.com/2021/04/29/why-are-certified-medical-planner-textbooks-so-darn-popular/

THANK YOU

***

***

PODCASTS: Employer Sponsored Health Plans Explained [Part I and II]

Self and Fully Insured Fundamentals and Basics

[A Two Part Presentation]

DR. ERIC BRICKER MD

***

***
COMMENTS ARE APPRECIATED.

Thank You

***

***

***

****

CITE: https://www.r2library.com/Resource/Title/0826102549

***

An X-Mass Emergency Room Joke

 

MERRY CHRISTMAS 2021

***

***

Your Friends at the

Medical Executive-Post

***

HOLIDAY SHOPPING: “Virtual” and “Mobile” Wallets?

By Staff Reporters

***

From improved organization to ease of use and increased security, virtual wallets are transforming the way we pay for things; especially during the holiday and Christmas Seasons.

CITE: https://www.r2library.com/Resource/Title/082610254

Here’s everything you need to know.

***

***
COMMENTS APPRECIATED.

Thank You

***

***

MERRY CHRISTMAS 2021

An iMBA Inc., MERRY CHRISTMAS 2021

Happy Holidays from the Institute of Medical Business Advisors, Inc

imba inc

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 2022.

http://www.MedicalExecutivePost.com

Thank You

***

MERRY CHRISTMAS EVE 2021: Stock Markets and Medicine

BY STAFF REPORTERS

***

***

COMMENTS APPRECIATED

***

***

What is Mutual Fund WINDOW DRESSING?

By Staff Reporters

***

To most people the holiday season means decorations at home and at work, but it also can mean “window dressing” in your mutual fund.

This somewhat disparaging term is used to describe the practice of a mutual fund making cosmetic changes to its portfolio just before the end of each calendar quarter. It’s done because funds publish their exact holdings of securities four times a year based on what they own at the end of each quarter.

CITE: https://www.r2library.com/Resource/Title/082610254

“The basic concept is that managers are either hiding their mistakes or adding winners to make themselves look a little smarter,” says Russ Kinnel, director of manager research at fund researcher Morningstar Inc. in Chicago. “Of course, it doesn’t necessarily help performance,” he adds.

MORE: https://www.investopedia.com/terms/w/windowdressing.asp

Santa Rally: https://medicalexecutivepost.com/2021/12/16/what-is-the-santa-claus-stock-market-rally/

***

COMMENTS APPRECIATED.

Thank You

***

Merry Christmas Eve 2021

  Join Our Mailing List 

By Dr. David Edward Marcinko MBA

[CEO – iMBA Inc]

Dr. DEMTo Our ME-P Subscribers, iMBA Inc., Clients and Friends 

As we look forward to sharing the holidays with family and friends, we also remember those less fortunate.

And, as has been our practice in recent years, rather than sending holiday greeting cards, the iMBA Inc will provide support to several charities dedicated to helping those in need.

We hope this gesture provides happier holidays for others and serves to express our gratitude to you, in the spirit of the season, for your continued support and loyalty to this ME-P.

Happy New Year 2022

We also extend our hope that the New Year 2022 brings you and your loved ones good health, happiness and a world that comes to know peace and understanding.

***

Santa

***

Channel Surfing the ME-P

Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register. It is fast, free and secure.

MORE: Shopping Trends and Physicians

A New Christmas Tradition: Take a Walk?

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:

lee-hansen-graphics-christmas-borders

A Financial “Christmas Eve Carol” [Part 1]

Join Our Mailing List 

By Rick Kahler MS CFP® http://www.KahlerFinancial.com

Rick Kahler MS CFPFor me, the Christmas season doesn’t seem complete without Charles Dickens’s A Christmas Carol. I’ve long been captivated by the transformation of the cold-hearted and calculating Mr. Scrooge, the seemingly inherent goodness of Bob Cratchit, and the haunting visits of the Ghosts of Christmas.

As a student of Dickens’s fable, I’ve been amazed at the wisdom and universal truths contained in that seemingly simple story. I have discovered that Mr. Scrooge isn’t merely the villain he’s often made out to be, nor is Cratchit the straightforward hero.

It’s not uncommon for the average American to have a stressful, even adversarial relationship with money, especially since half of Americans have no savings or investments and live month to month. Stress over money is especially exacerbated during the Christmas season each year. Many Americans borrow heavily on credit cards for gifts and end up stressing for months afterward trying to pay the bill.

Financial Transformations

How ironic that what Dickens unveils in the short A Christmas Carol is a powerful process for financial transformation (or any desired transformation). Dickens gives us a four-step process that anyone can employ to change destructive financial behaviors.

A few years ago I co-authored a book, The Financial Wisdom of Ebenezer Scrooge that highlights the subtle wisdom of Dickens’s story as it pertains to transforming one’s behavior around finances. The story became the heart of a successful model employed by financial planners and therapists to help transform a person’s relationship with money.

***

***

The Story

The first big event in the story is the visit to Scrooge by the ghost of his old business partner, Jacob Marley. Scrooge takes to heart Marley’s warning to change his ways, thereby becoming willing to consider changing. Psychologists would call this an intervention.

The first and most important step toward transformation needs to be a personal realization that something is amiss with your behavior and it’s you who wants to contemplate changing, as opposed to someone else insisting you ought to or should change. Meaningful and sustainable change comes only from within, not without. Blaming personal financial problems on family, employers, the wealthy, or the government just keeps a person stuck in delusion.

What is the key to developing an internal desire to change? Addiction recovery programs call this “hitting bottom.” I describe it as reaching a state of openness to accept the facts and circumstances as they are, not as you wish they were. It is becoming convinced that change is crucial and that you are passionately ready to take action to change.

On that Christmas Eve, inexplicably, Scrooge was finally ready consider the message his old friend Marley had tried to deliver to him on many Christmas Eves previously.

In the book Changing for Good, psychologist James O. Prochaska and his co-authors describe this as moving from the stage of pre-contemplation to contemplation. Scrooge was willing to consider that his firmly entrenched world view might be skewed and to consider seeing the facts for what they were, not as he assumed they were.

***

bear

***

We may not be misers like Scrooge, but when it comes to our beliefs around money, we have as many delusions as he did. A few of the more popular of these beliefs, or money scripts, are: “More money is the answer,” “The stock market is a gamble,” “I work hard so I deserve to spend money,” and, “If I work hard I will make money.”

Assessment

Becoming willing to consider change is half the battle to free ourselves from destructive financial behavior based on these delusions. But it is only half. Next time we will look at three additional steps to transformation.

Part 2: A Financial “Christmas Carol” [Part 2]

Channel Surfing the ME-P

Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register. It is fast, free and secure.

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:

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

UPDATE: Stock Markets and the Economy

By staff reporters

***

***

COMMENTS APPRECIATED.

Thank You

***

“Don’t Weigh Me” Cards

Wither a Good Idea?

READ HERE: https://more-love.org/free-dont-weigh-me-cards/

***

please don't weigh me cards

***
COMMENTS APPRECIATED.

***

Thank You

***

How to NAME Your New Medical Practice?

PRAGMATIC BUSINESS – NOT PERSONAL – MANAGEMENT ADVICE

By Dr. David E. Marcinko MBA CMP®

CMP logo

SPONSOR: http://www.CertifiedMedicalPlanner.org

THE MEDICAL PRACTICE NAME

Did you know that most experts recommend against naming a practice with your own name because it limits future growth and you may lose the benefits that a more descriptive name would bring?

Your business name will likely be incorporated using your practice’s name, although larger (multi-specialty group) practices may use a more general name for the entire enterprise; and then having multiple “dba’s” (”Doing Business As”) for the individual practices under the umbrella. It is important to discuss these options with an attorney if you believe this arrangement has advantage; others find it confusing.

Healthcare Marketing: How to Name Your Medical Practice - The Medically

Usually, your medical specialty can be used as a base-name, and then some descriptor to differentiate it from local competing practices. Selecting a name like “The Allegiance Partners” does not indicate that medicine is your service. On the other hand, naming your practice “Podiatry Associates of Your Town” won’t be helpful to patients looking for you in the yellow pages, health insurance provider network list, or internet search engines, and finding your practice listed just before “Your Town Podiatry Partners”. It is therefore good to be cognizant of your competitors’ names when choosing your own. And, you should select a name that will hopefully grow with you into a larger enterprise.

For example, are you a solo doctor, but are pretty sure you’ll take on one or more partners in the future? Then besides not naming your practice after yourself, you may choose to add “Group” or “Partners” to your name initially even if you’re the only doctor. Is there any possibility you’ll open a second office in another town? Naming your medical practice something like the ”Apple Street Internal Medicine Group” may not make sense when your second office is opened on Main Street in a nearby city, in a few years.

Order Forms and Practice Stationary

Orders forms, invoices, purchase and estimate forms, business cards, envelopes, stationary and specialty labels can all be personalized for your medical practice name, script, colors and logo. Often, local or regional printers are the most cost effective and you support another entrepreneur, as well.

Well-know internet companies that print stationary are: www.nebs.com; www.paperdirect.com; and www.vistaprint.com

YOUR COMMENTS ARE APPRECIATED.

Thank You

***

***

***

Happy PALINDROMIC Wednesday

The “Numbers” Day

***

DEFINITION: A palindrome is a word, number, phrase, or other sequence of characters which reads the same backward as forward, such as madam or racecar. There are also numeric palindromes, including date/time stamps using short digits 11/11/11 11:11 and long digits 02/02/2020.

CITE: https://www.r2library.com/Resource/Title/082610254

***

List of Interesting Palindrome Words & Phrases You're Sure to Love! • 7ESL

***

CRUNCH: According to mathematician Neal Freyman, today is the sound of mathematicians scrambling to find another topic to tweet about besides dates that form palindromes.

WHY: Today, 12/22/21, is the 22nd and final palindromic date of the year. There won’t be another year with 22 palindromic dates until 2111.

FACT: 1/20/21 was the first Inauguration Day with a palindromic date in American history. The next one will come in 1,000 years, on 1/20/3021.

***

COMMENTS APPRECIATED.

***

Thank You

***

UPDATE: Markets, Money and Covid

***

  • Markets: Down big one day, up big the next—that’s the Omicron-era stock market for you. Stocks surged yesterday following a 3-day losing streak, with travel companies leading the way.
  • Covid: The FDA is set to authorize Covid pills from Pfizer and Merck this week, Bloomberg reports. These treatments, which are intended to be taken by vulnerable people shortly after they are infected, could significantly reduce the burden on strained hospitals. Experts say the pills are a pandemic medical milestone second only to vaccines.
  • CITE: https://www.r2library.com/Resource/Title/082610254

***

***

COMMENTS APPRECIATED.

Thank You

***

PODCAST: Patient Trust in Health Care?

PERSUASION = Ethos, Pathos and Logos

BY ERIC BRICKER MD

***

***

***

***

COMMENTS APPRECIATED.

Thank You

***

UPDATE: Stock Markets and Politics

By Staff Reporters

***

  • Markets: With Omicron concerns swirling and President Biden’s big spending plan KO’d by Senator Joe Manchin, the S&P posted its biggest three-day drop since September. Tesla shares have now fallen back to their price before their big Hertz deal was announced in October.
  • Build Back Better: Goldman Sachs cut its economic growth forecast for next year after Joe Manchin said he wouldn’t vote for Democrats’ $2 trillion social spending bill. But yesterday the senator detailed some changes to the bill he’d support, reviving hopes that negotiations could resume in January.
  • CITE: https://www.r2library.com/Resource/Title/082610254

UPDATE: https://www.msn.com/en-us/money/markets/us-futures-rebound-after-stock-market-sell-off-but-omicron-risks-remain/ar-AAS1fv3?li=BBnb7Kz

COMMENTS APPRECIATED.

***

Thank You

***

Face Masks and Human Sneezes

Now – Do You Get It?

***

***

0 (1)

COMMENTS APPRECIATED

***

OMICRON UPDATE: https://www.msn.com/en-us/health/medical/us-coronavirus-omicron-will-not-recognize-state-lines-when-it-storms-the-us-expert-says/ar-AAS1302?li=BBnb7Kz

Thank You

TOP 50: The Digital Health Hype Cycle

***

Emerging Digital Health Trends

BY Bertalan Meskó, MD PhD

****

Digital technologies have completely transformed our lives in the last couple of years and started to entirely reshape the landscape of healthcare. Yet, this is only the beginning. Huge waves of changes are on their way. The future of healthcare is shaping up in front of our eyes with advances in digital healthcare technologies.

And so, here is the latest research, from the Medical Futurist’s Hype Cycle Of The Top 50 Emerging Digital Health Trends.
The Medical Futurist’s Hype Cycle Of The Top 50 Emerging Digital Health Trends

Quantum Computing
3D Bioprinting
Facial recognition in hospitals
Vocal biomarkers
3D printing prosthetics
Robots in hospitals
Augmented reality in patient education
A.I. in drug design
Augmented reality in medical education
Medical transportation platforms
Private 5G in healthcare
At-home lab tests
3D printing drugs
Medical drones
A.I. in diagnostics
Voice-to-text apps
A.I. in medical decision-making
Nutrigenomics
3D printing equipment
Virtual reality in patient education
Chatbots
Portable diagnostic devices
Augmented reality in surgery
Portable ultrasound devices
Virtual reality in staff training
Robots in rehabilitation
A.I.-based prosthetics
Longevity research
Nutrition devices
Employee wellness programs
Exoskelotons
Clinical trial recruiting
Clinical trial management
Remote care apps
Cloud computing
Nutrition apps
Robot companions
Medication management solutions
Personal genomics services
Microbiome testing
Remote care platforms
Digital health insurance
Smartwatches
Wearable health devices
Personal Health Records
Electronic Medical Records
Smartphone health apps
Mental health apps
Fitness trackers
Virtual reality in pain management

Bertalan Meskó, MD
The Medical Futurist

****

***
Your comments are appreciated.

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

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

THANK YOU

****

UPDATE: 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™

 COMMENTS APPRECIATED.

Thank You

UPDATE: https://oilprice.com/

***

 

INFLATION Is Here – UPDATE?

But for How Long?

See the source image

Vitaliy N. Katsenelson, CFA

[CEO & Chief Investment Officer]

READERS

DEFINITION: In economics, inflation (or less frequently, price inflation) is a general rise in the price level of an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time.

CITATION: https://www.r2library.com/Resource/Title/0826102549

***

See the source image

***

DEAR READERS

This essay is going to be long.
I blame inflation, be it transitory or not, for inflating its length. 

The number one question I am asked by clients, friends, readers, and random strangers is, are we going to have inflation? 

I think about inflation on three timelines: short, medium, and long-term

The pandemic disrupted a well-tuned but perhaps overly optimized global economy and time-shifted the production and consumption of various goods. For instance, in the early days of the pandemic automakers cut their orders for semiconductors. As orders for new cars have come rolling back, it is taking time for semiconductor manufacturers, who, like the rest of the economy, run with little slack and inventory, to produce enough chips to keep up with demand. A $20 device the size of a quarter that goes into a $40,000 car may have caused a significant decline in the production of cars and thus higher prices for new and used cars. (Or, as I explained to my mother-in-law, all the microchips that used to go into cars went into a new COVID vaccine, so now Bill Gates can track our whereabouts.)

Here is another example. The increase in new home construction and spike in remodeling drove demand for lumber while social distancing at sawmills reduced lumber production – lumber prices spiked 300%. Costlier lumber added $36,000 to the construction cost of a house, and the median price of a new house in the US is now about $350,000.

The semiconductor shortage will get resolved by 2022, car production will come back to normal, and supply and demand in the car market will return to the pre-pandemic equilibrium. High prices in commodities are cured by high prices. High lumber prices will incentivize lumber mills to run triple shifts. Increased supply will meet demand, and lumber prices will settle at the pre-pandemic level in a relatively short period of time. That is the beauty of capitalism! 

Most high prices caused by the time-shift in demand and supply fall into the short-term basket, but not all. It takes a considerable amount of time to increase production of industrial commodities that are deep in the ground – oil, for instance. Low oil prices preceding the pandemic were already coiling the spring under oil prices, and COVID coiled it further. It will take a few years and increased production for high oil prices to cure high oil prices. Oil prices may also stay high because of the weaker dollar, but we’ll come back to that.

Federal Reserve officials have told us repeatedly they are not worried about inflation; they believe it is transitory, for the reasons I described above. We are a bit less dismissive of inflation, and the two factors that worry us the most in the longer term are labor costs and interest rates. 

Let’s start with labor costs 

During a garden-variety recession, companies discover that their productive capacity exceeds demand. To reduce current and future output they lay off workers and cut capital spending on equipment and inventory. The social safety net (unemployment benefits) kicks in, but not enough to fully offset the loss of consumer income; thus demand for goods is further reduced, worsening the economic slowdown. Through millions of selfish transactions (microeconomics), the supply of goods and services readjusts to a new (lower) demand level. At some point this readjustment goes too far, demand outstrips supply, and the economy starts growing again.

This pandemic was not a garden-variety recession 

The government manually turned the switch of the economy to the “off” position. Economic output collapsed. The government sent checks to anyone with a checking account, even to those who still had jobs, putting trillions of dollars into consumer pockets. Though output of the economy was reduced, demand was not. It mostly shifted between different sectors within the economy (home improvement was substituted for travel spending). Unlike in a garden-variety recession, despite the decline in economic activity (we produced fewer widgets), our consumption has remained virtually unchanged. Today we have too much money chasing too few goods– that is what inflation is. This will get resolved, too, as our economic activity comes back to normal.

But …

Today, though the CDC says it is safe to be inside or outside without masks, the government is still paying people not to work. Companies have plenty of jobs open, but they cannot fill them. Many people have to make a tough choice between watching TV while receiving a paycheck from big-hearted Uncle Sam and working. Zero judgement here on my part – if I was not in love with what I do and had to choose between stacking boxes in Amazon’s warehouse or watching Amazon Prime while collecting a paycheck from a kind uncle, I’d be watching Sopranos for the third time. 

To entice people to put down the TV remote and get off the couch, employers are raising wages. For instance, Amazon has already increased minimum pay from $15 to $17 per hour. Bank of America announced that they’ll be raising the minimum wage in their branches from $20 to $25 over the next few years. The Biden administration may not need to waste political capital passing a Federal minimum wage increase; the distorted labor market did it for them. 

These higher wages don’t just impact new employees, they help existing employees get a pay boost, too. Labor is by far the biggest expense item in the economy. This expense matters exponentially more from the perspective of the total economy than lumber prices do. We are going to start seeing higher labor costs gradually make their way into higher prices for the goods and services around us, from the cost of tomatoes in the grocery store to the cost of haircuts.

Only investors and economists look at higher wages as a bad thing. These increases will boost the (nominal) earnings of workers; however, higher prices of everything around us will negate (at least) some of the purchasing power. 

Wages, unlike timber prices, rarely decline. It is hard to tell someone “I now value you less.” Employers usually just tell you they need less of your valuable time (they cut your hours) or they don’t need you at all (they lay you off and replace you with a machine or cheap overseas labor). It seems that we are likely going to see a one-time reset to higher wages across lower-paying jobs. However, once the government stops paying people not to work, the labor market should normalize; and inflation caused by labor disbalance should come back to normal, though increased higher wages will stick around.

There is another trend that may prove to be inflationary in the long-term: de-globalization.  Even before the pandemic the US set plans to bring manufacturing of semiconductors, an industry deemed strategic to its national interests, to its shores. Taiwan Semiconductor and Samsung are going to be spending tens of billions of dollars on factories in Arizona.  

The pandemic exposed the weaknesses inherent in just-in-time manufacturing but also in over reliance on the kindness of other countries to manufacture basic necessities such as masks or chemicals that are used to make pharmaceuticals.  Companies will likely carry more inventory going forward, at least for a while.  But more importantly more manufacturing will likely come back to the US. This will bring jobs and a lot of automation, but also higher wages and thus higher costs.  

If globalization was deflationary, de-globalization is inflationary  

We are not drawing straight-line conclusions, just yet. A lot of manufacturing may just move away from China to other low-cost countries that we consider friendlier to the US; India and Mexico come to mind.  

And then we have the elephant in the economy – interest rates, the price of money. It’s the most important variable in determining asset prices in the short term and especially in the long term. The government intervention in the economy came at a significant cost, which we have not felt yet: a much bigger government debt pile. This pile will be there long after we have forgotten how to spell social distancing
 
The US government’s debt increased by $5 trillion to $28 trillion in 2020 – more than a 20% increase in one year! At the same time the laws of economics went into hibernation: The more we borrow the less we pay for our debt, because ultra-low interest rates dropped our interest payments from $570 billion in 2019 to $520 billion in 2020. 

That is what we’ve learned over the last decade and especially in 2020: The more we borrow the lower interest we pay. I should ask for my money back for all the economics classes I took in undergraduate and graduate school.

This broken link between higher borrowing and near-zero interest rates is very dangerous. It tells our government that how much you borrow doesn’t matter; you can spend (after you borrow) as much as your Republican or Democratic heart desires. 

However, by looking superficially at the numbers I cited above we may learn the wrong lesson. If we dig a bit deeper, we learn a very different lesson: Foreigners don’t want our (not so) fine debt. It seems that foreign investors have wised up: They were not the incremental buyer of our new debt – most of the debt the US issued in 2020 was bought by Uncle Fed. Try explaining to your kids that our government issued debt and then bought it itself. Good luck.

Let me make this point clear: Neither the Federal Reserve, nor I, nor a well-spoken guest on your business TV knows where interest rates are going to be (the total global bond market is bigger even than the mighty Fed, and it may not be able to control over interest rates in the long run). But the impact of what higher interest rates will do the economy increases with every trillion we borrow. There is no end in sight for this borrowing and spending spree (by the time you read this, the administration will have announced another trillion in spending). 

Let me provide you some context about our financial situation 


The US gross domestic product (GDP) – the revenue of the economy – is about $22 trillion, and in 2019 our tax receipts were about $3.5 trillion. Historically, the-10 year Treasury has yielded about 2% more than inflation. Consumer prices (inflation) went up 4.2% in April. Today the 10-year Treasury pays 1.6%; thus the World Reserve Currency debt has a negative 2.6% real interest rate (1.6% – 4.2%). 

These negative real (after inflation) interest rates are unlikely to persist while we are issuing trillions of dollars of debt. But let’s assume that half of the increase is temporary and that 2% inflation is here to stay. Let’s imagine the unimaginable. Our interest rate goes up to the historical norm to cover the loss of purchasing power caused by inflation. Thus it goes to 4% (2 percentage points above 2% “normal” inflation). In this scenario our federal interest payments will be over $1.2 trillion (I am using vaguely right math here). A third of our tax revenue will have to go to pay for interest expense. Something has to give. It is not going to be education or defense, which are about $230 billion and $730 billion, respectively. You don’t want to be known as a politician who cut education; this doesn’t play well in the opponent’s TV ads. The world is less safe today than at any time since the end of the Cold War, so our defense spending is not going down (this is why we own a lot of defense stocks). 

The government that borrows in its own currency and owns a printing press will not default on its debt, at least not in the traditional sense. It defaults a little bit every year through inflation by printing more and more money. Unfortunately, the average maturity of our debt is about five years, so it would not take long for higher interest expense to show up in budget deficits. 

Money printing will bring higher inflation and thus even higher interest rates

If things were not confusing enough, higher interest rates are also deflationary 

We’ve observed significant inflation in asset prices over the last decade; however, until this pandemic we had seen nothing yet. Median home prices are up 17% in one year. The wild, speculative animal spirits reached a new high during the pandemic. Flush with cash (thanks to kind Uncle Sam), bored due to social distancing, and borrowing on the margin (margin debt is hitting a 20-year high), consumers rushed into the stock market, turning this respectable institution (okay, wishful thinking on my part) into a giant casino. 

It is becoming more difficult to find undervalued assets. I am a value investor, and believe me, I’ve looked (we are finding some, but the pickings are spare). The stock market is very expensive. Its expensiveness is setting 100-year records. Except, bonds are even more expensive than stocks – they have negative real (after inflation) yields.

But stocks, bonds, and homes were not enough – too slow, too little octane for restless investors and speculators. Enter cryptocurrencies (note: plural). Cryptocurrencies make Pets.com of the 1999 era look like a conservative investment (at least it had a cute sock commercial). There are hundreds if not thousands of crypto “currencies,” with dozens created every week. (I use the word currency loosely here. Just because someone gives bits and bytes a name, and you can buy these bits and bytes, doesn’t automatically make what you’re buying a currency.)

“The definition of a bubble is when people are making money all out of proportion to their intelligence or work ethic.”

By Mike Burry MD
[The Big Short]

I keep reading articles about millennials borrowing money from their relatives and pouring their life savings into cryptocurrencies with weird names, and then suddenly turning into millionaires after a celebrity CEO tweets about the thing he bought. Much ink is spilled to celebrate these gamblers, praising them for their ingenious insight, thus creating ever more FOMO (fear of missing out) and spreading the bad behavior.

Unfortunately, at some point they will be writing about destitute millennials who lost all of their and their friends’ life savings, but this is down the road. Part of me wants to call this a crypto craziness a bubble, but then I think, Why that’s disrespectful to the word bubble, because something has to be worth something to be overpriced. At least tulips were worth something and had a social utility. (I’ll come back to this topic later in the letter).

But ….

When interest rates are zero or negative, stocks of sci-fi-novel companies that are going to colonize and build five-star hotels on Mars are priced as if El Al (the Israeli airline) has regular flights to the Red Planet every day of the week except on Friday (it doesn’t fly on Shabbos). Rising interest rates are good defusers of mass delusions and rich imaginations. 

In the real economy, higher interest rates will reduce the affordability of financed assets. They will increase the cost of capital for businesses, which will be making fewer capital investments. No more 2% car loans or 3% business loans. Most importantly, higher rates will impact the housing market. 

Up to this point, declining interest rates increased the affordability of housing, though in a perverse way: The same house with white picket fences (and a dog) is selling for 17% more in 2021 than a year before, but due to lower interest rates the mortgage payments have remained the same. Consumers are paying more for the same asset, but interest rates have made it affordable.

At higher interest rates housing prices will not be making new highs but revisiting past lows. Declining housing prices reduce consumers’ willingness to improve their depreciating dwellings (fewer trips to Home Depot). Many homeowners will be upside down in their homes, mortgage defaults will go up… well, we’ve seen this movie before in the not-so-distant past. Higher interest rates will expose a lot of weaknesses that have been built up in the economy. We’ll be finding fault lines in unexpected places – low interest has covered up a lot of financial sins.

And then there is the US dollar, the world’s reserve currency. Power corrupts, but the unchallenged and unconstrained the power of being the world’s reserve currency corrupts absolutely. It seems that our multitrillion-dollar budget deficits will not suddenly stop in 2021. With every trillion dollars we borrow, we chip away at our reserve currency status (I’ve written about this topic in great detail, and things have only gotten worse since). And as I mentioned above, we’ve already seen signs that foreigners are not willing to support our debt addiction. 

A question comes to mind.
Am I yelling fire where there is not even any smoke? 

Higher interest rates is anything but a consensus view today. Anyone who called for higher rates during the last 20 years is either in hiding or has lost his voice, or both. However, before you dismiss the possibility of higher rates as an unlikely plot for a sci-fi novel, think about this. 

In the fifty years preceding 2008, housing prices never declined nationwide. This became an unquestioned assumption by the Federal Reserve and all financial players. Trillions of dollars of mortgage securities were priced as if “Housing shall never decline nationwide” was the Eleventh Commandment, delivered at Temple Sinai to Goldman Sachs. Or, if you were not a religious type, it was a mathematical axiom or an immutable law of physics. The Great Financial Crisis showed us that confusing the lack of recent observations of a phenomenon for an axiom may have grave consequences. 

Today everyone (consumers, corporations, and especially governments) behaves as if interest rates can only decline, but what if… I know it’s unimaginable, but what if ballooning government debt leads to higher interest rates? And higher interest rates lead to even more runaway money printing and inflation? 

This will bring a weaker dollar 

A weaker US dollar will only increase inflation, as import prices for goods will go up in dollar terms. This will create an additional tailwind for commodity prices. 

If your head isn’t spinning from reading this, I promise mine is from having written it. 

To sum up: A lot of the inflation caused by supply chain disruption that we see today is temporary. But some of it, particularly in industrial commodities, will linger longer, for at least a few years. Wages will be inflationary in the short-term and will reset prices higher, but once the government stops paying people not to work, wage growth should slow down. Finally, in the long term a true inflationary risk comes from growing government borrowing and budget deficits, which will bring higher interest rates and a weaker dollar with them, which will only make inflation worse and will also deflate away a lot of assets.

THE END
UPDATE: https://www.msn.com/en-us/news/us/how-us-inflation-rate-is-impacting-americans-wallets-before-the-holiday-season/vi-AAROG5J

CURRENT: https://www.msn.com/en-us/money/markets/us-treasury-yields-tick-lower-on-fears-omicron-will-dent-recovery/ar-AARYSKy?li=BBnbfcL

Your thoughts are appreciated.

THANK YOU

***
See the source image

PODCASTS: How Prescription [Rx] Coverage Works

Formulary Tiers, PBM, Rebates, Spread-Pricing Explained

By Dr. Eric Bricker MD

***

***

CITE: https://www.r2library.com/Resource/Title/082610254

***

***

***
YOUR COMMENTS ARE APPRECIATED.

Thank You

***

PODCAST: Why Tech Companies Fail at Health Care

HEALTH PLAN “AGE” AS RISK FACTOR

BY ERIC BRICKER MD

***

***

CITE: https://www.r2library.com/Resource/Title/082610254

COMMENTS APPRECIATED

***

RISK MANAGEMENT: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

THANK YOU

***

PODCAST: Is Value Investing Dead?

Vitaliy Katsenelson CFA

***

Recent : DOW , NASDAQ , NVIDIA CORPORATION , GENERAL ELECTRIC COMPANY , PAYPAL HOLDINGS, INC. Market DOW 35,365.44 ▼ -532.20 NASDAQ 15,169.68 ▼ -10.75 S&P 500 4,620.64 ▼ -48.03 WTI Futures 70.86 ▼ -1.52

***

DEFINITION: Value investing is an investmentparadigm that involves buying securities that appear underpriced by some form of fundamental analysis. The various forms of value investing derive from the investment philosophy first taught by Benjamin Graham and David Dodd at Columbia Business School in 1928, and subsequently developed in their 1934 text Security Analysis.

Citation: https://www.r2library.com/Resource/Title/0826102549

***

See the source image

***

PODCAST: Is Value Investing Dead?

ASSESSMENT: Your comments are appreciated.

THANK YOU

***

The Ten Year Treasury Note

WHAT IT IS – HOW IT WORKS – WHY?

By Staff Reporters

***

10-Year Note

What it is: The 10-year Treasury note is a debt instrument the U.S. government issues to fund itself. The Federal Reserve closely watches the “yield” (i.e. the return on investment) as a benchmark for other interest rates.

How it works: The U.S. Treasury issues bonds that are auctioned to investment banks by the Federal Reserve; banks can then sell those bonds to investors. The 10-year matures over—you guessed it—10 years, with interest paid out every six months until the full value is paid out at the end.

Why it matters: The 10-year is considered another safe-haven asset for investors. But as demand goes up, the yield goes down. Investors can even end up paying more than the face value of the Treasury note (but some are willing to accept the tradeoff for the low-risk investment).

CITE: https://www.r2library.com/Resource/Title/082610254

***

COMMENTS APPRECIATED.

***

Thank You

***

UPDATE: Markets and Medicine

By Staff Reporters

***

The Federal Reserve announced that it will stop buying bonds about three months earlier than initially planned. The Fed now plans to trim its monthly Treasury and mortgage-backed security purchases by $30 billion a month starting next month. The new pace is expected to put an end to bond buying by March.

CITE: https://www.r2library.com/Resource/Title/0826102549

The Fed also announced that it would leave interest rates unchanged at near-zero percent. The announcement paves the way for three interest rate hikes by the end of 2022, which could weigh on tech and growth stocks.

UPDATE: https://www.msn.com/en-us/money/news/tech-takes-a-beating-as-central-banks-pull-back/vi-AARTp0n

  • Markets: Stocks reversed their post-Federal Reserve announcement rally with a stinker of a day—especially tech stocks. Semiconductor companies like AMD and Nvidia got particularly thwacked.
  • Covid: The CDC recommended adults use Moderna’s and Pfizer’s Covid vaccines over J&J’s due to the risk of developing rare but serious blood clots.

MORE: https://www.msn.com/en-us/money/markets/stocks-fall-as-investors-digest-feds-latest-move/vi-AARTm2C

***
COMMENTS APPRECIATED.

***

***

Thank You

***

What is the SANTA CLAUS Stock Market Rally?

LATE DECEMBER – EARLY JANUARY RISE

By Staff Reporters

***

RALLY: A rally is a period of sustained increases in the prices of stocks, bonds or indices … An increase in prices during a primary trend bear market is called a bear market rally. A bear market rally is sometimes defined as an increase of 10% to 20%.

Now, a Santa Claus Rally describes a sustained increase in the stock market that occurs in the last week of December through the first two trading days in January. There are numerous explanations for the causes of a Santa Claus rally including tax considerations, a general feeling of optimism and happiness on Wall Street, and the investing of holiday bonuses.

CITE: https://www.r2library.com/Resource/Title/0826102549

Another theory is that some very large institutional investors, a number of which are more sophisticated and pessimistic, tend to go on vacation at this time, leaving the market to retail investors, who tend to be more bullish.

***

MORE: https://ab1cb44b2e48b34b5d4f2cf57df3b90b.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

RELATED: https://www.msn.com/en-us/money/news/a-santa-claus-rally-%e2%80%a6-from-an-all-time-high/ar-AAQUT3G?li=BBnb7Kz

UPDATE: https://www.cnbc.com/2021/12/01/cramer-charts-suggest-stocks-may-fall-more-before-santa-claus-rally.html

MORE: https://www.msn.com/en-us/money/markets/the-santa-claus-rally-in-the-stock-market-could-stumble-this-year-as-fed-hawkishness-and-rich-valuations-spook-investors-bank-of-america-says/ar-AARtSFP?li=BBnb7Kz

UPDATE: https://www.msn.com/en-us/money/markets/jim-cramer-says-the-santa-claus-rally-may-have-started-early-this-year-heres-why/ar-AARRb7r?li=BBnb7Kz

YOUR COMMENTS ARE APPRECIATED.

Thank You

***

***

The Science of Happiness?

HAPPINESS?

By NIHCM Foundation

***

***

REPORT: https://nihcm.org/publications/the-science-of-happiness-health-well-being?utm_source=NIHCM+Foundation&utm_campaign=a03fb2164b-EMAIL_CAMPAIGN_2020_12_03_03_17&utm_medium=email&utm_term=0_6f88de9846-a03fb2164b-167744768

***

DR. DAVID E. MARCINKO MBA INVITATION:

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

THANK YOU

***

Stock Markets and the Economy

UPDATES

By Staff Reporters

***

  • Markets: Stocks stumbled yesterday as investors anxiously await an update from the Federal Reserve this afternoon. Uber shares bucked the trend after CEO Dara Khosrowshahi said the company had its “best week ever” for overall gross bookings, which encompasses its ride-sharing and delivery units.
  • Economy: The Fed will make a big announcement today about its inflation-fighting strategy. Fresh data released yesterday—showing that producer prices rose at their fastest pace on record—will put even more pressure on the central bank to wind down its stimulus measures quickly and chart out a plan to hike interest rates.
  • CITE: https://www.r2library.com/Resource/Title/082610254

Chained CPI: https://medicalexecutivepost.com/2012/12/21/what-chained-cpi-could-mean-for-social-security/

FED UPDATE: https://www.msn.com/en-us/money/markets/fed-chair-jerome-powell-to-confirm-hawkish-turn-tee-up-faster-taper-2022-rate-hikes/ar-AARPZAW?li=BBnb7Kz

SUMMERS SPEAKS: https://www.msn.com/en-us/money/markets/summers-says-fed-will-struggle-to-engineer-soft-landing-as-he-frets-about-spontaneous-deflating-in-markets/ar-AARPA77?li=BBnb7Kz

***

***

YOUR COMMENTS APPRECIATED.

Thank You

Is there a Lack of Guidelines on the Re-Use of Hardware or Electronic Media for Healthcare?

Join Our Mailing List 

What to do to mitigate risk

Shahid N. Shah MS

[By Shahid N. Shah MS]

It is a common scenario that the hardware and electronic media are re-used instead of being simply disposed. They can be reused either internally within the healthcare organization or they can be resold or donated to other organizations/individuals.

Whatever may be the nature of reuse, it is important that all ePHI are completely erased using official government approved wiping methods, before it is given out for re-use. If this is not done, there are fairly high chances of the data being exposed and there by compromising ePHI.

Major Mitigation

Specific policies and procedures needs to be defined which clearly provides guidelines on the measures to be adopted when hardware or electronic media are reused. Often the risks associated with internal reuse of these media are overlooked, and as such there are no guidelines. Even if it is internal reuse, the same level of risks associated with unauthorized access exists here. 

Secondary Mitigation

Policies and procedures which advocates the use of logs and book keeping for these reuse would help to track these media in a better way. 

Success criteria

Audit of the logs and book keeping records will provide the information on whether the policies are being followed. And, the risk assessment report will give a clearer picture whether this risk has been mitigated or not.

***

working with computer

*** 

ABOUT

Mr. Shahid N. Shah is an internationally recognized healthcare thought-leader across the Internet. He is a consultant to various federal agencies on technology matters and winner of Federal Computer Week’s coveted “Fed 100″ Award, in 2009. Over a twenty year career, he built multiple clinical solutions and helped design-deploy an electronic health record solution for the American Red Cross and two web-based eMRs used by hundreds of physicians with many large groupware and collaboration sites. As ex-CTO for a billion dollar division of CardinalHealth, he helped design advanced clinical interfaces for medical devices and hospitals. Mr. Shah is senior technology strategy advisor to NIH’s SBIR/STTR program helping small businesses commercialize healthcare applications. He runs four successful blogs: At http://shahid.shah.org he writes about architecture issues; at http://www.healthcareguy.com he provides valuable insights on applying technology in health care; at http://www.federalarchitect.com he advises senior federal technologists; and at http://www.hitsphere.com he gives a glimpse of HIT as an aggregator. Mr. Shah is a Microsoft MVP (Solutions Architect) Award Winner for 2007, and a Microsoft MVP (Solutions Architect) Award Winner for 2006. He also served as a HIMSS Enterprise IT Committee Member. Mr. Shah received a BS in computer science from the Pennsylvania State University and MS in Technology Management from the University of Maryland. 

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:

***

[PHYSICIAN FOCUSED FINANCIAL PLANNING AND RISK MANAGEMENT COMPANION TEXTBOOK SET]

  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™

***

PODCAST: Milliman Medical Care Guidelines

Pervasive MCG Health Insurance Denials

BY ERIC BRICKER MD

***

***

YOUR THOUGHTS ARE APPRECIATED.

***

***

***

YOUR COMMENTS ARE APPRECIATED.

Thank You

***

UPDATE: Stock Market

By Staff Reporters

***

Markets: Meme stocks like GameStop surged at the beginning of the year, but they’re now in a big funk as investors dump riskier assets.

An index of 37 stocks favored by retail traders hit its lowest level in seven months, and lost almost 25% of its value in just the last three weeks.

CITE: https://www.r2library.com/Resource/Title/082610254

MEME Stocks: https://medicalexecutivepost.com/2021/10/23/what-are-meme-stocks/

PEEK AHEAD TODAY: https://www.msn.com/en-us/money/markets/a-peek-into-the-markets-us-stock-futures-down-ahead-of-producer-price-index/ar-AARNFUs?li=BBnb7Kz

***

***
COMMENTS APPRECIATED.

Thank You

***

New Study Compares Medicare-Commercial Payment Gaps by Specialty

New Study Compares Medicare-Commercial Payment Gaps by Specialty

BY HEALTH CAPITAL CONSULTANTS


Utilizing data from FAIR Health, the Urban Institute conducted an October 2021 study which reviewed commercial insurance claims across the U.S. (for approximately 60 insurers and third-party administrators covering over 150 million Americans under age 65) from March 2019 through February 2020.

CITE: https://www.r2library.com/Resource/Title/0826102549

This study assessed the gap between commercial insurance payments and Medicare payments for professional physician services to determine whether the payment gap between Medicare and commercial insurance differs by specialty. (Read more…)

YOUR COMMENTS ARE APPRECIATED.

***

Thank You

***

Stock MARKET Update

ALL TIME HIGHS?

***

  • Markets: The S&P begins the week after closing at an all-time high last Friday. The index has closed at a record more times this year (67) than in any other year since 1995. It needs 10 more to tie the mark.
  • More S&P fun facts: Microsoft, Alphabet, Apple, Nvidia, and Tesla alone account for over a third of the S&P’s gains this year.
  • CITE: https://www.r2library.com/Resource/Title/082610254

NOTE: 35,630.18market open‎-340.81 (‎-0.95%)as of 12/13/2021, 11:31 AM EST

COMMENTS APPRECIATED.

***

Thank You

***

Cyber-Risks in Banking

Join Our Mailing List

By Ibrahim Jaafaru

This is a review of a white paper by Longitude Research that talks about Cyber-Risks in Banking.

***

346_1

***

Cyberrisk in Banking

Cyber security is a complex and multifaceted challenge that is growing in importance.

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:

 Product DetailsProduct DetailsProduct Details

***

%d bloggers like this: