August | 2022 | The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants

MONKEY-POX: Domestic Outbreak and PUBLIC HEALTH EMERGENCY

Posted on August 6, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Amid a monkey-pox outbreak in the United States that has been declared a public health emergency, the nation’s top infectious-diseases expert, Anthony S. Fauci, said people should be paying attention but not panicking.

Fauci recently told WTOP News that people do not need to change the way they live their lives but should monitor the situation and adjust behaviors as more information becomes available. “You never blow off any emerging infection when you don’t know yet where it’s going,” he explained. “You pay attention to it. You follow it. Then you respond to it in an appropriate manner.”

CITE: https://www.cdc.gov/poxvirus/monkeypox/index.html

READ: https://news.yahoo.com/monkeypox-now-national-public-health-122136476.html

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DHIMC: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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Filed under: Breaking News, Glossary Terms, Health Law & Policy, LifeStyle | Tagged: monkey-pox, MONKEY-POX Domestic Outbreak, monkeypox, public health emergency | Leave a comment »

Mature Company Stocks Are Not Bonds

Posted on August 6, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

Dividends bring tangible and intangible benefits

vitaly

By Vitaliy Katsenelson CFA

You can also listen to the article here, or by clicking on the buttons below:

Like many professional investors, I love companies that pay dividends. Dividends bring tangible and intangible benefits: Over the last hundred years, half of total stock returns came from dividends.

In a world where earnings often represent the creative output of CFOs’ imaginations, dividends are paid out of cash flows, and thus are proof that a company’s earnings are real.

Finally, a company that pays out a significant dividend has to have much greater discipline in managing the business, because a significant dividend creates another cash cost, so management has less cash to burn in empire-building acquisitions.

Mature Company Stocks Are Not Bonds

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

Filed under: Investing | Tagged: bonds, Corporate Dividends, dividends, Investing, stocks, Vitaliy Katsenelson CFA | 1 Comment »

UPDATE: Jobs Report & the 10 Year Treasury Yield

Posted on August 6, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The sizzling-hot July jobs report could force the Federal Reserve to continue raising interest rates at the fastest pace since 1994 as it tries to cool inflation and the labor market. U.S. employers unexpectedly added 528,000 jobs in July, a surprisingly strong gain that defied fears of a slowdown in labor markets as they confront scorching-hot inflation and rising interest rates. Wage growth also accelerated, surging by 0.5% in the one-month period from June. But the blowout jobs report, coupled with higher-than-expected wage growth, could ultimately pave the way to a third consecutive interest rate hike of 75 basis points — triple the usual size — when FOMC policymakers meet in September. Therefore, traders are already pricing in a 70% chance of another super-sized increase in the fall, according to the CME Group’s FedWatch tool, which tracks trading.

And, the 10-year Treasury yield rose on the back of a stronger-than-expected jobs report for July. The yield on the 10-year Treasury was 2.83%, and the yield on the 30-year Treasury bond was up 10 basis points and trading at 3.068%. Meanwhile, the 2-year was up 20 basis points to 3.242%. Yields move inversely to prices. The data showed non-farm payrolls increase 528,000 last month and surpassed DJIA’s expectations of 258,000. At the same time, wage growth rose with average earnings climbing 0.5% for the month and 5.2% over last year. The stronger than anticipated report showed that the U.S. is not likely in a recession. This move marks a reversal from the recent trend that saw the 10-year yield trending lower on fears the Fed’s hiking campaign was tipping the economy into a recession. Earlier this week, the 10-year yield fell to 2.50% and its lowest since April, according to FactSet.

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

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

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Filed under: Alerts Sign-Up, Experts Invited, Financial Planning, Glossary Terms, Investing | Tagged: 10 year note, 10 year treasury note, CME Group, FactSet, FedWatch, FOMC, jobs report | Leave a comment »

On Marketing, Advertising and Sales; etc.

Posted on August 5, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

Including Public Relations, Risk, Change and Crisis Management

By Dr. David Edward Marcinko MBA

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

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

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

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

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

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

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

Assessment: Your thoughts are appreciated from a healthcare perspective.

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Filed under: iMBA, Inc., Touring with Marcinko | Tagged: advertising, change risk crisis management, marketing, public relations, sales | 6 Comments »

UPDATE: Recession, Goldman Sachs, and Tesla

Posted on August 5, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The director of the nonpartisan Congressional Budget Office [CBO] added his voice Thursday to those economists who say it’s unclear if the economy has hit a downturn, despite posting two straight quarterly drops in growth. “The U.S. economy shows signs of slowing, but whether the economy is currently in a recession is difficult to say,” wrote CBO Director Phillip Swagel in a letter to Sen. Lindsey Graham (R-S.C.). “It is possible that, in retrospect, it will become apparent that the economy moved into recession sometime this year. However, that is not clear from data that were available at the beginning of August,” Swagel added.

Goldman Sachs said its credit card unit is under investigation by the Consumer Financial Protection Bureau, a federal agency tasked with protecting Americans from financial abuse. In a securities filing, Goldman said the CFPB is examining a number of the company’s credit card account management practices, including refunds, resolving billing errors, advertisements and reporting to credit bureaus. And, in a statement to CBS MoneyWatch, Goldman said the bank “is cooperating with the CFPB on this matter.”

Finally, shares of electric vehicle maker Tesla rallied in after-hours trading as the company won shareholder approval for a 3:1 stock split, the second such move in two years, as the world’s most valuable automaker looks to make its stock more affordable.

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

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Filed under: Ethics, Experts Invited, Industry Indignation Index, Investing, Op-Editorials, Professional Liability | Tagged: CFPB, Goldman Sachs, Phillip Swagel, recession, Tesla | Leave a comment »

CMS Issues 2023 Physician Fee Schedule Proposed Rule

Posted on August 5, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

PHYSICIAN REIMBURSEMENT

CMS Issues 2023 Physician Fee Schedule Proposed Rule

On July 7, 2022, the Centers for Medicare & Medicaid Services (CMS) released its proposed Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2023. Arguably the most noteworthy provision in the proposed rule is the agency’s suggested cut to physician payments. However, the rule also includes a number of other policy proposals, including changes to Medicare accountable care organizations (ACOs), behavioral health care, cancer screening, and dental care. (Read more…)

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BUSINESS: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko
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Filed under: "Doctors Only", Accounting, Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Health Law & Policy | Tagged: 2023 Physician Fee Schedule, CMS Issues 2023 Physician Fee Schedule Proposed Rule, CMS Proposed Rule, Health Capital Consultants LLC, Jessica Bailey-Wheaton, TODD A. ZIGRANG | Leave a comment »

UPDATE: Stock Market Rally and Venture Capital

Posted on August 4, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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MARKETS: Stocks rebounded after back-to-back losing sessions earlier this week: The Dow Jones Industrial Average was up 1.3%, over 400 points, while the S&P 500 rose 1.6% and the tech-heavy NASDAQ 2.6%. Markets got a boost after a surprise rebound in the U.S. services sector in July, with the ISM non-manufacturing purchasing managers index rising to a reading of 56.7—above 55.3 last month and 54 expected by economists. Investors also cheered comments from St. Louis Federal Reserve President James Bullard, who told CNBC that the U.S. economy is “not in a recession right now” and the Fed will keep hiking rates to bring down inflation. Shares of vaccine maker Moderna surged 16% after reporting strong quarterly profits and announcing $3 billion in share buybacks, while shares of coffee chain Starbucks jumped nearly 5% after similarly beating expectations. But, hawkish remarks from Federal Reserve [FOMC] officials this week suggest investors may be premature in assuming the Fed will be shifting its monetary policy approach anytime soon.The Federal Reserve raised its target fed funds rate by 0.75% last week to a new range of between 2.25% and 2.5%, its second 0.75% rate hike in two months. The market has reacted strongly to commentary by the Fed Chairman.

Venture capital is the latest to feel the pinch from the economic downturn, with venerable Silicon Valley incubator Y Combinator’s Summer 2022 cohort consisting of less than 250 companies, down from over 400 last Winter’s list – a drop of 40 percent.…”The economic downturn and almost certain resulting changes to come in the venture funding environment, as well as the realities of being back in person, led to our decision to reduce the number of companies we funded”. Lindsay Amos, Y Combinator’s communications director, confirmed to The Register that the incubator had done so intentionally, attributing the reduction to the current state of the economy. Despite the downturn, Amos said, Y Combinator’s summer 2022 cohort “is still a large batch relative to the last five years.” Amos said that batch sizes vary because “we are constantly evaluating every aspect of our batches and the environment in which the companies will be operating.”

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Filed under: Alerts Sign-Up, Investing | Tagged: Lindsay Amos, stock market, Venture Capital, Y combinator | Leave a comment »

Physician Mistreatment by Patients, Visitors and Doctors

Posted on August 4, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By UPI News and Staff Reporters

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Nearly 1 in 4 hospital doctors are mistreated at work by patients, visitors and other doctors, and female doctors are nearly two times more likely than male doctors to face this abuse, a new study reveals.

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“All members of the healthcare team share the responsibility to mitigate mistreatment,” said senior study author Dr. Mickey Trockel, a clinical professor of psychiatry and behavioral sciences at the Stanford University School of Medicine and director of Evidence Based Innovation for the Stanford WellMD/WellPhD Center.

LINK: https://www.msn.com/en-us/health/medical/1-in-4-hospital-physicians-face-mistreatment-by-patients-visitors/ar-AAXa6Jp?li=BBnb7Kz

MD Burnout: https://medicalexecutivepost.com/2017/12/03/u-s-hospitals-feeling-the-pain-of-physician-burnout/

COACH

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Filed under: "Doctors Only", Career Development, Ethics, mental health, Research & Development | Tagged: Dr. Mickey Trockel, Physician burnout, Physician mistreatment, Physician Mistreatment by Patients, Visitors and Doctors | Leave a comment »

PODCAST: Surescripts [Gatekeeper for Electronic Prescribing Explained]

Posted on August 4, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Eric Bricker MD

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

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

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Filed under: "Doctors Only", Career Development, Drugs and Pharma, Ethics, Experts Invited, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Videos | Tagged: EHRs, electonic prescribing, EMRs, Eric Bricker MD, PBM, PBMs, Surescripts, Surescripts [Gatekeeper for Electronic Prescribing Explained] | Leave a comment »

Inflation Reduction Act of 2022

Posted on August 3, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Claire

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While the Inflation Reduction Act of 2022 looks good on paper, it will actually do more harm than good if it passes. The plan would hurt working-class taxpayers and small business owners across the country.

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READ: https://wealthofgeeks.com/irs-expansion/

MORE: https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf

FINANCIAL PLANNING: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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Filed under: Accounting, Breaking News, Experts Invited, Investing, Taxation | Tagged: Clair, inflation, Inflation Reduction Act 2022, wealthofgeeks | Leave a comment »

UPDATE: The US Dollar, BP, the Jobs Report and Micro-Chip Stocks

Posted on August 3, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The dollar sank to a one-month low after data last week showed the US is technically in recession.
It reflects a “sell-the-fact” reaction in markets as investors expect milder Fed rate hikes.
A weak Chinese economy is also affecting the performance of the greenback on demand concerns.

The US dollar index, which measures the greenback’s performance against six other currencies including the Japanese yen, slipped 0.52% to trade at $105.35 – its lowest since July 5th. The safe-haven currency has endured sharp sell-offs in recent weeks, only rising on two days since mid-July as a “sell-the-fact” reaction hits markets over expectations that the Fed will become less aggressive in its monetary policy after data showed US GDP contracted for two straight quarters – the technical definition of a recession.

London-based BP earnings tripled and underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, jumped to $8.45 billion from $2.80 billion in the same period a year earlier. The soaring earnings allowed BP to return billions of dollars to shareholders, with the company boosting its dividend by 10% and announcing that it would buy back $3.5 billion in shares. BP said it expects to increase dividends by about 4% annually through 2025.

Moreover, job openings in the U.S. fell to 10.7 million in June to mark the lowest level since last fall, signaling that a red-hot labor market is cooling off a bit as the economy slows. Job openings slipped from 11.3 million in May. They have dropped three months in a row after peaking in the early spring at a record 11.9 million.The last time job openings dipped below 11 million was in November last year. The number of people who quit jobs in June, meanwhile, only fell slightly to 4.23 million, the Labor Department said Tuesday. Quits topped 4 million one year ago for the first time ever, part of a pandemic-era trend that’s become known as “the great resignation.” Before the pandemic, the number of people quitting jobs averaged fewer than 3 million a month.The high number of people quitting jobs suggests the labor market is still quite robust, though. Most people who quit usually find a better job. Layoff also stayed at historically very low levels. Big picture: The economy is cooling off — and so is a sizzling labor market.

Finally, semi-conductor stocks plunged. For example, shares of Taiwan Semiconductor Manufacturing Company (TSMC)—the world’s biggest and most valuable semiconductor manufacturer valued at $440 billion—fell 2.4%. Its Taiwanese peers United Microelectronics and MediaTek dipped 3% and 1.6%, respectively. Meanwhile, U.S. chip-maker Intel stock dropped 1.5% on the same day.

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Filed under: "Ask-an-Advisor", Accounting, Alerts Sign-Up, Financial Planning, Investing, LifeStyle, Op-Editorials | Tagged: BP, BP and the Jobs Report, chip stocks, jobs report, micro-chips, micro-conductors, The US Dollar, US Dollar | Leave a comment »

PODCASTS: HEDIS Explained

Posted on August 3, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

Healthcare Effectiveness Data & Information Set

By Eric Bricker MD

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#2 PODCAST: https://www.ahealthcarez.com/how-hedis-quality-scores-work

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AMA ECONOMICS: https://medicalexecutivepost.com/2022/08/01/ama-to-teach-medical-students-about-health-economics/

Health Economics: https://medicalexecutivepost.com/2022/07/31/podcast-history-applied-to-health-economics/

DHEF: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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Filed under: "Doctors Only", Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Information Technology, Managed Care, Quality Initiatives, Research & Development, Videos | Tagged: Eric Bricker MD, Healthcare Effectiveness Data & Information Set, HEDIS, HEDIS Explained | Leave a comment »

UPDATE: The Markets, Jim Rogers Speaks, and the Economy

Posted on August 2, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks dipped at the start of August. The S&P 500 gave up an early gain to end down 11.7 points, or 0.3%, to close at 4,118.6. The Dow Jones Industrial Average dipped 46.7 points to 32,708, or 0.1%, and the tech-heavy NASDAQ fell 0.2%. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1% lower. Bond yields mostly fell. The yield on the 10-year Treasury, which influences mortgage rates, fell to 2.60% from 2.65% late Friday.

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Jim Rogers is bracing for an epic stock-market crash and a painful recession.
George Soros’ former partner sees the US dollar, energy, and agriculture as solid short-term bets.

Jim Rogers warned a historic stock-market crash is on the horizon, touted energy and agriculture as near-term winners, and cautioned that curbing inflation would require much higher interest rates during a recent Kitco News interview. Rogers is best known as the co-founder of Quantum Fund and Soros Fund Management. The veteran investor predicted a painful recession, ruled out bitcoin succeeding as a currency, and asserted that even a Russia-Ukraine peace deal wouldn’t prevent asset prices from eventually plunging.

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And now, some cautionary advice for workers worried about an economic downturn. “It will be mostly a white-collar recession. And the blue-collar recession will not be in the same places that we saw in the past.” That was William Lee, chief economist at the Milken Institute, a Santa Barbara, Calif.-based think tank, in an interview with MarketWatch, speculating on the nature of America’s next recession. Amid rising expectations among economists of a recession — commonly defined as two consecutive quarters of negative growth — Lee said there’s still a demand for blue-collar workers in service and manufacturing, which will help protect those workers if a recession hits. Even with a low unemployment rate of 3.6%, lower-income workers are always vulnerable in any economic downturn, but adding to comments he made on Bloomberg Radio earlier this week, Lee said there may be exceptions to that rule this time around.

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Finally, there’s an optimistic outlook considering June’s hot inflation reading of 9.1%, the fastest rise in prices in 41 years. It prompted another 75-point rate hike from the central bank last week, bringing the policy rate to 2.25%-2.5%. But there are signs the inflation fight is beginning to show results, Fundstrat said. July’s stock market performance was the strongest since November 2020, and inflation expectations have come down since July’s FOMC meeting.

The economy has entered a technical recession — but it could be just a growth scare, Fundstrat said.
Inflation expectations have flattened, and markets now see the policy rate peaking at 3.28% in January 2023.
It suggests that the stock market may not fall as sharply as some banks have predicted.

The economy entered a technical recession following the second straight quarterly decline for US GDP, but the market could be looking at a growth scare instead of a full blown recession and inflation should start falling sharply beginning with July’s reading, Fundstrat said in a note over the weekend.

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Filed under: Alerts Sign-Up, Financial Planning, Glossary Terms, Investing, Op-Editorials | Tagged: and the Economy, DJIA, economy, Fundstrat, Jim Rogers, Jim Rogers Speaks, NASDAQ, recession, S&P 500, stocks, UPDATE: The Markets | 1 Comment »

Hospital Consolidation: Trends, Impacts & Outlook

Posted on August 2, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By NIHCM

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READ HERE: https://nihcm.org/publications/hospital-consolidation-trends-impacts-outlook

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

MORE: https://www.amazon.com/Financial-Management-Strategies-Healthcare-Organizations/dp/1466558733/ref=sr_1_3?ie=UTF8&qid=1380743521&sr=8-3&keywords=david+marcinko

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Activity Based Medical Cost Accounting and Management

Posted on August 2, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

NON-TRADITIONAL ACCOUNTING METHODS KNOWN IN THE BUSINESS COMMUNITY BUT NOT USED IN HOSPITALS OR HEALTH CARE ORGANIZATIONS

By Dr. David Edward Marcinko; MBA CMP® CPHQ

SPONSOR: http://www.CertifiedMedicalPlanner.org

Sooner or later – as a practicing physician – you will want to ascertain and then demonstrate the cost effectiveness of your medical care. By using the process of Activity Based Cost (ABC) Management, you will be able to do so.

ALAS: But, if you’re using a traditional accounting system – like most all hospitals today that use the fictional “average wholesale cost” method – you won’t know a thing about your medical practice or clinic activity costs. Hence, again like most all hospitals, fees become simply vacuous.

Managerial Accounting Assignment Help in Australia

Here’s how: https://medicalexecutivepost.com/2007/12/15/activity-based-cost-medical-management/

HOW TO READ A SCIENTIFIC PAPER: https://medicalexecutivepost.com/2021/04/09/how-to-read-and-understand-a-scientific-paper/

DETAILED WHITE PAPER–IN-PROGRESS [thru editing but before peer-reviewed publication]: https://medicalexecutivepost.com/wp-content/uploads/2007/12/abcm.pdf

ASSESSMENT: Your thoughts are appreciated.

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Filed under: Accounting, CMP Program, Health Economics, Healthcare Finance, Practice Management | Tagged: activity based accounting, Certified Medical Planner™, CMP Program, cost accounting, David Edward Marcinko, managerial accountihng | 1 Comment »

Medical Practice Human Resource Budgets

Posted on August 1, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

Seeking Optimal FTE-to-Doctor Ratios

[DR. DAVID E. MARCINKO MBA]

The full-time-equivalent (FTE) – to doctor (provider) – ratio of a medical practice is often more useful to know than the total amount of staff salary expense, according to industry experts like Dr. Jon Hultman MBA, of Los Angeles, CA.

Why? Because comparable salaries have a wide geographic variance; and it is just more expensive to practice in New York City, than it is in Phenix City, Alabama.

Introduction

Payroll (human resources) typically is the largest singe expense and cost-driver of most medical practices. So, an optimal staffing ratio must be determined for every practice, considering quality, productivity and patient satisfaction at the lowest possible cost.

Reducing the FTE ratio, and hence overhead salary expenses, is desirable only when it does not lower productivity, quality or patient satisfaction.

Most FTE ratios are significantly high, with no corresponding benefit to the typical medical practice (if there even is such an entity).

Moreover, this FTE excess establishes an environment for which “idle-time” for any given point is about 30%. And, corresponding redundant or unnecessary “task-time” is about 25%.

In fact, it is often a management truism that smaller FTE ratios may be consistent with higher levels of productivity. On the other hand, lower FTE ratios may actually be consistent with lower levels of productivity, lower medical care quality and higher costs; all other things being equal.

The NAHC Review

The National Association of Healthcare Consultants (NAHC), Statistical Report 2000, is summarized below and was considered reliable at the time because the numbers were reported by accountants, not doctors. More current information is now available.

Nevertheless, these benchmarks may serve as a cogent starting-point for HR budget analysis and FTE evaluation:

Specialty FTE Ratio

Ophthalmology 5.19
OB/GYN 4.35
Dermatology 4.30
Otolaryngology 4.22
Hematology 4.19
Oncology 4.19
Family Practice 4.18
Orthopedic Surgery 4.12
Pediatrics 3.79
Gastroenterology 3.75
Internal Medicine 3.51
Dentistry 3.00
Urology 2.94
Podiatry 2.94
Neurology 2.70
General Surgery 2.50

Assessment

Now, consider the specialty FTE-to-physician ratios listed above – index them over time for your medical specialty – and consider that famed investor Warren Buffett once said,

“There is a right size of staff for any business operation. For every dollar of sales (professional service income), there is an appropriate level of expense.”

And so, how does your medical practice, clinic or healthcare organization stack-up to current NAHC benchmarks and their resulting HR budgets?

Conclusion

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Filed under: Practice Management | 3 Comments »

UPDATE: Family Housing Markets, Potential Stock Market Highs, Earnings Season and Bitcoin!

Posted on August 1, 2022 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

***

According to founder and real estate investing company CARROLL, his company has raised rents up to 30% over the past year. Of course, costs are going up as well. “So as our costs go up — our costs of interest, our costs of renovations, our cost of our employees,” Carroll told Fox Business. “We need to push those increases along through rent increase.” Because of rising property prices, renting has become the only option for a lot of people. “We are seeing a supply-demand imbalance,” he adds. “And now they have a lack of buyers because of mortgage rates. So, again, this has all kind of been a perfect storm for the multifamily business.” While it’s hard to say whether rent increases are sustainable, Carroll says that his company’s occupancy rates are at all-time high.

The stock market could be gearing up for new record highs before year-end as the 2022 bear market is over, Fundstrat’s Tom Lee just said. The biggest takeaway for me on events of this week? Convincing and arguably decisive evidence the ‘bottom is in’ — the 2022 bear market is over.” Lee’s confidence stems from the fact that between a negative GDP print, another 75-basis-point interest rate hike from the Fed, and more natural gas volatility due to Russia’s Nord Stream pipeline drama, a lot of bad news occurred this week and yet the S&P 500 and Nasdaq 100 managed to stage a 3% rally. “When bad news doesn’t take down markets, it is time for investors to assess.” In fact, despite a strong US dollar and heightened economic uncertainty, companies are reporting better-than-feared results. With 52% of the S&P 500 having reported second-quarter earnings already, 73% beat profit estimates by a median 7%.

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Meanwhile, investors will be closely monitoring July’s Nonfarm Payrolls print, with analysts estimating a slowdown in hiring, forecasting the addition of 250K jobs which would be the lowest since December of 2020, while the unemployment rate is expected to hold steady at 3.6%. Other important economic data include final S&P Global PMIs, ISM Manufacturing and Non-Manufacturing PMIs, exports, imports, JOLTS job openings, construction spending and factory orders. Finally, the earnings season continues with a slew of major companies reporting quarterly results, including Eli Lilly and Company (NYSE:LLY), Gilead Sciences Inc (NASDAQ:GILD), Uber Technologies Inc (NYSE:UBER), Caterpillar Inc (NYSE:CAT) and Amgen Inc (NASDAQ:AMGN).

Finally, Bitcoin gained 19% since the beginning of July, which caused the crypto’s Relative Strength Index to correct from 29% on July 1 to the 60% level as of press time. The momentum coming back into Bitcoin has caused the fear and green index measurement to improve slightly from “extreme fear” in June, measuring in at 11, to “fear” in July, measuring in at 39.

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

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

SECOND OPINIONS: https://medicalexecutivepost.com/schedule-a-consultation/

INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

***

COMMENTS APPRECIATED

Thank You

***

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

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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Investing, Research & Development, Taxation | Tagged: Bitcoin, earnings season, Family Housing Markets and Potential Stock Market Highs, Housing Markets, RSI, Stock Market Highs | Leave a comment »

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