18% of Patients Surveyed Skipped Prescriptions to Save Money

By Staff Reporters

****

18% Surveyed Skipped Prescriptions to Save Money

A recent Gallup survey asked “Thinking about the last 12 months, have you or a family member skipped a prescribed pill, dose, or other type of medication in order to save money?”. The amount of prescriptions in the household of those who answered yes varied as follows:

 •  8+: 25%
 •  5-7: 22%
 •  1-4: 17%
 •  0: 8%
 •  Total that answered yes: 18%

Source: West Health-Gallup 2021 Healthcare in America Report, December 2021

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

COMMENTS APPRECIATED.

Subscribe to the Medical Executive-Post

THANK YOU

***

****

New 2022 Mileage Tax Rates

Automobile Business Deductions

2022 IRS Mileage Reimbursement Rate

Here are the 2022 IRS mileage reimbursement rates for businesses, individuals, and other organizations:

  • 58.5 cents per mile driven for business use. This is an increase of 2.5 cents from the 2021 rate.
  • 18 cents per mile driven for medical or moving purposes for qualified active-duty members of the Armed Forces. This is up by 2 cents from the 2021 rate.
  • 14 cents per mile driven in service of charitable organizations. Because the rate is set by statute it hasn’t changed from the 2021 rate.

***

Waxed Jaguar

***

Conclusion

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

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

DICTIONARIES: http://www.springerpub.com/Search/marcinko
PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
BLOG: www.MedicalExecutivePost.com
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

Product Details

 

UPDATE: Stock Market and the Economy

By Staff Reporters

***

The stock market was very sharply mixed yesterday, and the NASDAQ Composite took the brunt of the damage. Even as the Dow Jones Industrial Average was up triple digits, the NASDAQ fell almost 2% as of 1:45 p.m. ET; and finishing down 210.08 points or (‎-1.33%).

Physicians and other investors looking at the biggest stocks in the NASDAQ would have to go through three dozen stocks on the list before finding a single one that rose more than 1%. Many of the top tech giants were down 1% to 5% or more on the day. Yet there were some winning NASDAQ stocks, and a few in particular might seem surprising to those used to seeing more popular names among top performers.

Bond yields gained thanks to bullish attitudes around economic growth.

Economy: The Great Resignation rolls on as a record 4.5 million Americans quit their jobs in November. That’s equivalent to 3% of the workforce.

COMMENTS APPRECIATED.

Thank You

Subscribe to the Medical Executive Post.com

***

***

On Hobson’s Economics “Choice”

The Philosophical Tradeoff

By Dr. David Edward Marcinko; MBA

[Publisher-in-Chief]

In economics, Hobson’s choice is a free choice in which only one option is offered, and one may refuse to take that option. The philosophical choice is therefore between taking the option; and not taking it. 

A False Choice 

The phrase is said to originate from Thomas Hobson [1544-1630], a livery stable owner who, in order to rotate the use of his horses, offered customers the choice of either taking the horse in the stall nearest the door – or taking none at all. It is analogous to the expression “my way or the highway”. 

In other words, it is in many respects a faux choice – or no choice at all. 

Financial Tradeoff 

Some retired physicians and other retired people live on a fixed income and many of them live right on the edge of their financial capability.  At some time in their life, they may have to make a choice regarding many purchases.  

In this case, we will illustrate “choice” using a couple’s purchase of Long Term Care Insurance. Of course, economics is the study of choice; wants, needs and scarcity, etc. 

In our case, if they decide to make the purchase they commit to a lifetime of premium payments. 

The financial tradeoff is this; if they make the commitment to purchase LTCI, they must give up something else.

Example: 

In order to maintain a monthly premium of $100 ($1,200per year), an elderly doctor, retired layman or couple must essentially relegate about $30,000 of financial assets to generate the $100 necessary to make an average premium payment (assumes a 7% rate of return with 4% withdrawal rate) or [4% X $30,000 = $1,200 year]. 

Thus, if the monthly premium cost is $500 per month, the elder must give up the use of $150,000 of retirement asset just to generate enough cash flow to pay for the LTC insurance. 

The married elder couple has to make the choice between lifestyle (dinners, vacations, gifts to children, prescription drugs, medical care or food and shelter) versus paying an insurance premium to provide for nursing home coverage for a need, which may be very real, but will not occur until sometime in the ambiguous future. 

Assessment 

When faced with such a tough economics – Hobsonian – choice, neither of which delivers peace of mind or a respectable solution; many will simply decide that, in either case, they may already end up impoverished. 

Thus, many will often opt for the better lifestyle now … while they can enjoy it … together. 

Conclusion 

A health economist or financial advisor often has to dispel the myths, hopes and misconceptions of clients and deal with the realities they face. Alternative risk management strategies are important, and health economic choices must be considered in any comprehensive financial plan. 

And so, what are your thoughts and comments on Hobson’s choice [dilemma]? 

Speaker: If you need a moderator or a speaker for an upcoming event, Dr. David Edward Marcinko; MBA – Editor and Publisher-in-Chief – is available for speaking engagements. Contact him at: MarcinkoAdvisors@msn.com 

***

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™  Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

***

Invite Dr. Marcinko

***

PODCAST: Accounting Deception in Health Care

Examples of Exploitation and Deception?

BY ERIC BRICKER MD

***

***

COMMENTS APPRECIATED

Please subscribe to the ME-P

TERMS: https://medicalexecutivepost.com/2021/11/02/financial-terms-and-definitions-all-physician-should-know/

Triple Entry Accounting: https://medicalexecutivepost.com/2020/12/28/triple-entry-accounting/

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

Thank You

***

***

***

***

Get Smart [Advertise on the ME-P]

Reach Industry Pros, Executives and Decision-Makers with Ease

By Ann Miller RN MHA

[Executive-Director]

MarcinkoAdvisors@msn.com

Thank you for your interest in sponsoring the Medical Executive-Post, the web’s only site integrating medical practice management with personal financial planning for all health care and financial services professionals.

Why should your company sponsor an ad, text message or banner on the ME-P?

  • Reader loyalty. Not only does the ME-P receive a mind-boggling number of page views and visits each month, its readers are loyal.
  • Reader stature. ME-P readers are experienced industry pros, executives and decision-makers.
  • Selective advertising. The ME-P is a free read that’s off the radar of the big-ad companies. Your ad here stands out as personal and different.
  • Supporting the ME-P makes a big difference and costs only a fraction of other online publications with far fewer readers.
  • Cost. CPM is ridiculously low compared to other sites.
  • E-mail us for a full packet, but give a look to these results from the ME-P’s annual reader survey:
  • 89% of readers said the ME-P influences their perception of products and companies
  • 34% said that ME-P sponsorship alone give them a higher interest or appreciation for those companies
  • 75% said the ME-P has some, a good bit, or a lot of industry influence.

Contact me and I’ll e-mail you a rate card. Your support makes a difference!

Text Ads

We have great sponsor packages, but maybe you want to run a short-term ad — a position listing, an announcement, or your booth number at an upcoming conference. Or, perhaps your company is between budget cycles and can’t commit to sponsorship yet. We’ve got an answer – ME-P text ads.

Text ads are up to five lines long and are highly cost-effective. You’ll get about 25-35,000 impressions per week, reaching the ME-P’s highly targeted and loyal audience of healthcare professionals and financial services decision-makers. Think small text ads don’t work? They’ve made two Google kids billionaires!

PayPal Certified

All ME-P text ad costs are for one month, payable in advance via PayPal. We’ll post it quickly and you’ll see results almost immediately.

Assessment

Why waste money on magazines that never get read and with months of lead time required? The best way to quickly reach the critical mass of the healthcare management and financial services industry is right here on the ME-P.

Speaker: 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:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest ME-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Product DetailsProduct DetailsProduct Details

Product Details  Product Details

   Product Details

%d bloggers like this: