NOBEL PRIZE ECONOMICS: Former FOMC Chair Ben Bernanke

By Staff Reporters

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STOCKHOLM (AP) — Former U.S. Federal Reserve Chair Ben Bernanke, who put his academic expertise on the Great Depression to work reviving the American economy after the 2007-2008 financial crisis, won the Nobel Prize in economic sciences along with two other U.S.-based economists for their research into bank failures.

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What is a Non-Fungible Token [NFT]?

About NFTs

[By staff reporters]

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Sponsored: http://www.CertifiedMedicalPlanner.org

According to Wikipedia, a non-fungible token (NFT) (previously referred to as Bitcoin 2.0) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

In 2021, there has been increased interest in using NFTs. Blockchains like Ethereum, Flow, and Tezos have their own standards when it comes to supporting NFTs, but each works to ensure that the digital item represented is authentically one-of-a-kind. NFTs are now being used to commodify digital assets in art, music, sports, and other popular entertainment. Most NFTs are part of the Ethereum blockchain; however, other blockchains can implement their own versions of NFTs.

Crypto Currency Basics: https://medicalexecutivepost.com/2014/01/23/understanding-currencies-bitcoins/

https://medicalexecutivepost.com/2017/06/28/the-crypto-future-through-bitcoin-ethereum-ripple-xrp-and-iota/

Carbon Footprint!

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CARBON

The NFT market value tripled in 2020, reaching more than $250 million. The rise of NFT transactions has also led to increased environmental criticism. The computation-heavy processes associated with proof-of-work blockchains, the type primarily used for NFTs, require high energy inputs that are contributing to global warming. The carbon emissions produced by the energy needed to maintain these blockchains has forced some in the NFT market to rethink their carbon footprint.

Your thoughts are appreciated.

BITCOIN: https://medicalexecutivepost.com/2014/01/23/understanding-currencies-bitcoins/

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VALUATION: Clinic and Medical Practice Worth

Plastic Surgery Proto-Type

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[Medical Practice Worth, Valuation, Sales and Succession Planning]

Part (1) – Part (2) – Part (3)

By Dr. David Edward Marcinko MBA DPM MBBS CMP

By Professor Hope Rachel Hetico RN MHA CPHQ CMP

By Robert James Cimasi MHA AVA CBA ASA FCBI MCMA CMP

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SPEAKS: Mohamed El-Erian

By Staff Reporters

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Mohamed El-Erian, Allianz’s chief economic advisor just opined that the U.S. is heading toward a recession that was “totally avoidable” amid ongoing concerns about inflation and economic stability. 

“I fear that we risk a very high probability of a damaging recession that was totally avoidable,” El-Erian told CBS’ “Face the Nation,” arguing that the Federal Reserve has made mistakes that will “go down in the history books.” 

“One is mis-characterizing inflation as transitory. By that, they meant it is temporary, it’s reversible, don’t worry about it. That was mistake number one. And then mistake number two, when they finally recognized that inflation was persistent and high. They didn’t act. They didn’t act in a meaningful way,” El-Erian said.  

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Inflation, Earnings Season the WB & IMF

By Staff Reporters

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Inflation data incoming. Thursday’s consumer price index release will show how much we got clobbered by inflation in September. Last month, inflation came in hotter than expected, leading to a market rout. Economists hope to see some cooling in “core CPI,” which strips out food and gas prices, this time around.

CITE: https://medicalexecutivepost.com/2022/09/14/inflation-cpi-and-the-ppi/

Earnings season is back. A stock market that’s already on edge could get another jolt of volatility this week as corporations begin to report their Q3 earnings, starting with PepsiCo on Wednesday. These reports will reveal how companies are coping with the Fed’s interest rate hikes.

The World Bank and the International Monetary Fund will hold their annual meetings in Washington, DC, this week amid great macroeconomic uncertainty.

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Columbus Day Media and Book Reviews, PR, Blog and Press Mentions

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iMBA Inc … A Pervasive Industry-Wide Presence
[By Staff Writers]

Regardless of venue, our contributors have been cited in the evolving ecosystem of health economics and finance, with media mentions from these sources and many others:

JOURNALS: Managed Care Executives, Healthcare Informatics, Medical Interface, Plastic Surgery Products, Teaching and Learning in Medicine, Orthodontics Today, Chiropractic Products, Journal of the American Medical Association,  Podiatry Management, Podiatry Today, Rheumatology and Arthritis, Physicians Practice, Investment Advisor Magazine, Registered Representative, Financial Advisor Magazine, CFP© Biz (Journal of Financial Planning), The Business Journal for Physicians, The Elder Law Portfolio Series, and Physician’s Money Digest and OB/GYN-PMD, etc.

ACADEMIC INSTITUTIONS: UCLA School of Medicine, Northern University College of Business, Creighton University, Medical College of Wisconsin, Physician Executive MBA Program of the University of Tennessee College of Business Administration, University of North Texas Health Science Center, Washington University School of Medicine, University of Pittsburgh, Cleveland Chiropractic College, Emory University School of Medicine, and the Goizueta School of Business at Emory University, University of Cincinnati, Ohio College of Podiatric Medicine,  University of Pennsylvania Medical-Dental Libraries, Joseph’s College of Maine, and the University of Medicine Dentistry of New Jersey, etc.

ORGANIZATIONS: Medical Group Management Association (MGMA), American College of Medical Practice Executives (ACMPE), American College of Physician Executives (ACPE), JAMA.ama-assn.org, American College of Emergency Physicians (ACEP), ACS Healthcare Solutions (NYSE-ACS), Health Care Management Associates (HMA), MomMD, PhysiciansPractice.com, Medical World Communications (MWC); Superior Consultant Company (NASD-SUPC) and Microsoft  Corporation (NASD-MSFT), etc.

TESTIMONIALS: Congratulations on the new print guide [HO:FMS]. Now, I am looking forward to this blog participation opportunity “between and about” the issues, too. Best of Luck!

Thomas A. Muldowney; MSFS, CFP®
Certified Medical Planner™ [CMP]; Rockville
, Ill.
http://www.SavantCapital.com

SYNDICATIONS: Wall Street Journal.com; CNN.com; Forbes.com and BusinessWeek.com

BOOK REVIEWS:

“The book [Insurance and Risk Planning for Physicians and Advisors] is an excellent primer for physicians of all levels and interests providing important personal and professional advice. It is “must reading” for all medical students who need a fundamental understanding of the current healthcare environment and is e-qually important to the established physician executive looking for a reference on topics like capitation or the Health Insurance Portability and Accountability Act (HIPAA).”

David C. Stockwell; MD and Anthony D. Slonim; MD, MPH
American College of Physician Executives
 

“All physicians, and their advisors, are well served by reading this book with its step-by-step process for financial success in a complicated business full of pitfalls and misinformation. Simply put, my recommendation is to read Financial Planning for Physicians and Advisors and ‘reap’.”

Frank A. Cappiello
President, McCullough, Andrews & Cappiello, Inc.
Distinguished Visiting Professor of
Finance
Loyola University Maryland –
Wall $treet Week with Louis Rukeyser

“This book, Financial Planning for Physicians and Advisors, would make an excellent reference for teaching medical students and residents the basics of monetary management. I highly recommend this book and commend Dr. Marcinko and the Institute of Medical Business Advisors, Inc. on a job well done.

Manuel J. Colón; MD – American College of Physician Executives

“The book [Advanced Business of Medical Practice] has ambitious scope: business plan, practice valuation, ROI, coding, billing, econometrics, cash flow analysis, compliance, technology, and various legal aspects. But Dr. Marcinko and an exceptional array of contributing experts do a remarkable job of exploring each topic with sufficient detail and meaningful examples. In summary, a doctor building a profitable medical practice must read this book and return to it often for reference.”

Dr. Yuval Lirov, New Jersey 

“I could have used a book like this in the past [Advanced Business of Medical Practice, I will certainly refer to it frequently now.”

Carol EH Scott-Conner; MD, PhD, MBA 

“Health economist Dr. David Edward Marcinko, MBA, and his colleagues at the Institute of Medical Business Advisors, Inc., should be complimented for conceiving and completing this laudable project. The Dictionary of Health Insurance and Managed Care lifts the fog of confusion surrounding the most contentious topic in the health care industrial complex today.”

Michael J. Stahl, PhD
Director, Physician Executive MBA Program
William B. Stokely Distinguished Professor of Business
College of Business Administration
University of Tennessee
 

I would highly recommend the Dictionary of Health Insurance and Managed Care to everyone who has chosen a career in any health care discipline.”

Christy S. Lodwick, MHA – PhD Candidate
Health Care Administration & Policy
President/Business Development
IMPACT Health Care Solutions
Columbus, Ohio

“My suggestion is to use the Dictionary of Health Information Technology and Security frequently. You will refer to it daily.”

Richard J. Mata; MD, MS, MS-CIS
Certified Medical Planner™ (Hon)
Chief Medical Information Officer [CMIO]
Assistant Professor Texas State University

“Dr. David Edward Marcinko, Academic Provost for the Institute of Medical Business Advisors, Inc, and a Certified Medical Planner™ should be complimented for conceiving and completing this ambitious project. The Dictionary of Healthcare Economics and Finance spells out the terms of reference and the principle players in the contemporaneous healthcare industrial complex. Having such a compendium readily at hand and sharing it with others, is a way for patients, accountants, financial planners and insurance agents, medical practitioners, nurse managers and healthcare executives to improve economic efficiency and clinical quality. Of course, it may even help restore fiscal enterprise-wide sanity, as well. Simply put, my suggestion is to refer to the Dictionary of Healthcare Economics and Finance frequently, and “reap”.

Thomas E. Getzen, Ph.D.
Executive Director, International Health Economics Association
Professor of Risk, Insurance and Healthcare Management
The Fox School of Business – Temple University
Philadelphia, Pennsylvania, USA

“The Editor-in-Chief [Dr. David E. Marcinko] and his colleagues at the Institute of Medical Advisors, Inc should be complimented for conceiving and completing this vitally important project. There is no question that Healthcare Organizations: Financial Management Strategies will indeed enable us to leverage our cognitive assets and prepare a future generation of leaders capable of tackling the many challenges present in our healthcare economy.”

 David B. Nash; MD, MBA, FACP
Thomas Jefferson Medical College and University

“Medical management is a complex business, with advances in science, technology and consumer awareness often eclipsed by regulation, rights, and financial restrictions. Navigating a course where sound practice management is intertwined with sound financial strategies requires a blueprint designed by subject matter experts. Healthcare Organizations: [Financial Management Strategies] will be that blueprint.”

Richard D. Helppie
Founder Superior Consultant Company [NASD-SUPC]

“I’ve been a longtime admirer of what David Edward Marcinko does with his writing and knowledge of medicine and medical practice. His books provide guidance for physicians, helping them to survive organizationally, administratively, and financially so that they can continue to serve their patients.”

Ahmad Hashem; MD PhD
Former Global Healthcare Manager
Microsoft Corporation,
Redmond, WA 

PRESS CORPS: If you represent a medical group and/or surgical society, mutual fund company, RIA, financial institution, or are a member of the media or press corps and want to be included on our topic release list; please phone [770.448.0769], fax [775.361.8831] or e-mail us at MarcinkoAdvisors@msn.com  Be sure to include “press list” or other “topic designation” in your subject line.

Interview, lecture, consulting and keynote speaking requests for Executive Post Founder and former RIA, stock-broker, insurance agent and PPMC executive, and Certified Financial Planner™ Dr. David E. Marcinko; FACFAS, MBA, CPHQ, CMP™ should go to the same address.

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NVIDIA: Capitalization Down!

By Staff Reporters

Nvidia, which was once in the Top 10 of the most valuable companies in the world was ejected from this club. The chipmaker ranks now 21st, as its market capitalization has shrunk by $431 billion.

Indeed, at the start of 2022, the Nvidia’s market value was approximately $732 billion. It is now only $301 billion. It’s a disaster for the shareholders of the group.

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PODCAST: Hospital Finance 101 [Full Service Healthcare]

By Steve Febus

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Hospital Finance 101: Understanding the Cost of Full-Service Healthcare in Pullman, WA Program by: Steve Febus, Pullman Regional Hospital Chief Financial Officer.

***

PODCAST: https://www.youtube.com/watch?v=N-SumPdb2PI

RELATED: https://www.youtube.com/watch?v=3vNThT8RJiQ

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

HOSPITAL FINANCE: 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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FOMC: Will Raise Interest Rates in November?

By Staff Reporters

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The Fed is poised to raise interest rates just one more time in November before stopping, according to Ed Yardeni. That’s because there is a growing risk that financial markets are on the verge of instability due to a soaring US dollar.

“The soaring dollar has been associated in the past with creating financial crisis on a global basis,” Yardeni just told told Bloomberg.

CITE: https://www.yardeni.com/

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What is a DIVIDEND ARISTOCRAT Stock?

By Dr. David Edward Marcinko MBA CMP®

SPONSOR: http://www.CertifiedMedicalPlanner.org

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A Dividend Aristocrat is a stock that has exhibited a remarkable level of consistency, measured by the fact that only those S&P 500 companies that have increased their annual dividend for 25 straight years — or more — can be called one. The name was coined by cable TV personality and investor Jim Cramer

These companies have raised their dividends through good times and bad, including recessions, crashes, and pandemics. Being able to continue doing so is a tribute to their stability and strength. Now, the past 18 months have been a particularly difficult economic environment to operate in, and some companies were forced to slash or hold the line on their dividends as a result.

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

But others are just fine, like investment manager T. Rowe Price (NASDAQ: TROW), which increased its dividend for the 35th straight year in 2022. It is located in Baltimore Maryland not far from where I grew up. In fact, I used to play stick ball, as a kid, in the parking lot.

UPDATE: https://www.msn.com/en-us/money/markets/down-between-15-and-53-3-top-dividend-aristocrats-that-are-too-cheap-to-ignore/ar-AA10oFN9?cvid=962479fd28494731a0cd106028a00940

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FOREWORD: https://medicalexecutivepost.com/wp-content/uploads/2007/10/dr-getzen.pdf

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What Is a “Reverse” Stock Split?

By Staff Reporters

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Hippo Holdings Inc. (NYSE: HIPO) intends to file a proxy statement with the Securities and Exchange Commission in connection with a special meeting of stockholders to be held on August 31, 2022. The proxy statement will include a proposal for a reverse stock split at a ratio in the range of 1-for-20 to 1-for-30 and the reduction of the number of authorized shares of capital stock of the company by a corresponding proportion.

The reverse stock split to be proposed to Hippo stockholders in the proxy statement is intended to resolve the issue raised in a non-compliance notice Hippo received from the New York Stock Exchange (the “NYSE”) on July 19, 2022 regarding Section 802.01C of the NYSE Listed Company Manual due to the average closing price of the company’s common stock being less than $1.00 over a consecutive 30 trading-day period. The notification has no immediate effect on the listing or trading of Hippo’s common stock on the NYSE.

Hippo can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the company has a closing price of at least $1.00 per share and an average closing price of at least $1.00 per share over the 30-trading day period ending on the last trading day of that month.

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SO – WHAT EXACTLY IS A REVERSE STOCK SPLIT?

A reverse stock split is a type of corporate action that consolidates the number of existing shares of stock into fewer (higher-priced) shares.

A reverse stock split divides the existing total quantity of shares by a number such as five or ten, which would then be called a 1-for-5 or 1-for-10 reverse split, respectively.

A reverse stock split is also known as a stock consolidation, stock merge, or share rollback and is the opposite of a stock split, where a share is divided (split) into multiple parts.

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

What are pros and cons of a reverse stock split?

  • Companies prices come down
  • Outstanding shares goes up, with this their financial ratios like EPS, RoE goes down.
  • Market cap remains same.
  • No Fresh equity are issued hence there is no dilution of equity.

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DICTIONARY: Health Economics and Finance

BY DR. DAVID E. MARCINKO MBA

Designated a Doody’s Core Title!

“”Medical economics and finance is an integral component of the health care industrial complex. Its language is a diverse and broad-based concept covering many other industries: accounting, insurance, mathematics and statistics, public health, provider recruitment and retention, Medicare, health policy, forecasting, aging and long-term care, are all commingled arenas.

The Dictionary of Health Economics and Finance will be an essential tool for doctors, nurses and clinicians, benefits managers, executives and health care administrators, as well as graduate students and patients? With more than 5,000 definitions, 3,000 abbreviations and acronyms, and a 2,000 item oeuvre of resources, readings, and nomenclature derivatives? it covers the financial and economics language of every health care industry sector.””
– From the Preface by David Edward Marcinko

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

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Drugs and County Mental Health Programs

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On Medication and Pharmaceutical Direction

[By Carol S. Miller BSN, MBA, PMP]

Two issues related to medication have an impact on county mental health programs. The first is the new emphasis on drug therapy and the second is targeted marketing by pharmaceutical companies of newer, more costly drugs.

First

In the past, psychiatrists focused on identifying the “cause of the problem” and developing associated treatment plans to treat the cause. With the increasing number of mental health patients, especially those with chronic mental illness conditions, psychiatrists do not have the time to focus solely on the treatment plan and the underlying cause of the mental illness. Instead, their focus has had to become intake evaluations, case coordination, and medication checks. Use of medication has replaced the treatment plan, and continues to play a much larger and more primary role in the treatment of most, if not all, patients.

Second

The second major issue is advertising. The Food and Drug Administration (FDA) lifted restrictions against direct pharmaceutical advertising several years ago, enabling the representatives of these firms to market and advertise their drugs. Advertisers target both medical and mental-related problems, including everything from depression, anxiety, attention deficit disorder, acid reflux disease, high cholesterol, erectile dysfunction, arthritis, allergies, over-active bladder, to asthma. With the advent of marketing, many drugs are now being over-prescribed and are becoming a component of spiraling healthcare costs.

Assessment

In summary, both of these pharmaceutical issues are having an impact on county mental health centers — first, as a cost issue, second because of the change-in-direction treatment modality, and third from the perspective of potential ethical issues involved in provider/pharmaceutical company ties and relationships.

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

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FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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PODCAST: High Medical Debt Yet Hospitals Still Thrive!

By Eric Bricker MD

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“Best” Physician Focused Financial Planning and Medical Practice Management Books for 2022

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CAREER DEVELOPMENT

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PODCAST: Hospital Executives Confess Fee-For-Service Care Drives Costs

By Eric Bricker MD

1) Fee-for-Services Motivates Hospitals to Increase Costs.
2) Medicare and Commercial Insurance Companies Have Not Changed That Motivation with ‘Value-Based’ Payments.
3) Hospital Prices Have NO Connection to the Underlying Cost of a Test or Procedure.
4) Most Don’t Even Know What the Underlying Test or Procedure Cost Is in the First Place.

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PODCAST: Healthcare Selling Strategies

By Eric Bricker MD

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DICTIONARY: 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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Understanding the Mental Healthcare Regulatory Environment

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Appreciating the Rules

[By Carol Miller; RN, MBA]

Carol S. MillerLocal counties and municipalities are the primary providers of state mental healthcare for patients who lack private insurance coverage for such care.

Both children and adults may be eligible to receive assistance.

These counties provide a wide range of psychiatric and counseling services to the residents in their community as well as other types of assistance such as:

  • treatment services related to substance abuse;
  • housing;
  • employment services;
  • information and education service;
  • referrals;
  • consultative services to schools, courts and other agencies;
  • after-care services; and other related activities.

mental

Rules and Regulations

Accordingly, regulations from federal, state, and county governments have an impact on the day-to-day operations, procedures and processes of a county mental health center. Traditionally, there are three main types of regulations.

Federal Regulations — The United States healthcare system is guided by programs such as those established under the Centers for Medicare and Medicaid (in the case of county mental health programs, Medicaid is especially important), Americans with Disabilities Act (ADA), Occupational Safety and Health Administration (OSHA), Health Insurance Portability and Accountability Act (HIPAA), and others.

State Regulations — These include general legislative guidelines, state management of benefits and reimbursement of the Medicaid program, and state allocations of budgets, which impact the centers’ operations.

County Regulations — Each county defines its own County Mental Health Program and decides which services will be provided or excluded.

Assessment

County facilities generally include outpatient clinics, county mental health programs, short-term psychiatric facilities, day-care centers, de-toxification centers, residential rehabilitation centers for substance abuse, long-term care psychiatric facilities, and Veterans Affairs (VA) psychiatric centers. The county centers may be co-located with other county services such as social services, occupational rehabilitation services, information technology services, human resources, maintenance services, and others or may be independently located.

Conclusion

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Ray Dalio SPEAKS

By Staff Reporters

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  • Ray Dalio no longer believes “cash is trash” in light of tighter monetary policy.
  • He’s warmed to the greenback due to higher interest rates and the Fed shrinking its balance sheet.
  • However, Dalio is still only neutral on the dollar, likely because of stubborn inflation.

Ray Dalio, after repeatedly proclaiming “cash is trash” in recent years, has warmed to the US dollar and now views it as a passable investment.

“The facts have changed and I’ve changed my mind about cash as an asset: I no longer think cash is trash,” Dalio just tweeted.

***

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A Review of Mental Healthcare Provider Types

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Implications for Staffing Modern Mental Health Facilities

[By Carol Miller RN MBA]

Carol S. MillerCommunity Mental Health Centers are also referred to as County Mental Health Centers and treat patients usually with no or limited insurance in a domiciliary setting versus an inpatient state or community facility.

And, both children and adults are eligible to receive such assistance.

These programs provide a wide range of psychiatric and counseling services to the residents in their community as well
as other types of assistance. But, what type of mental healthcare staff, and providers, are involved with these facilities?

Staffing

Staffing levels at community mental health facilities depend on the size and funding of each clinic, and vary in number, qualifications, and mix. Many personnel hold or are working on Master’s degrees and various professional certifications.

Typical staffing would include:

  • Administrative or Mental Health Director ¾ This individual, working under general policy directives, is responsible for planning, organizing, coordinating, and directing delivery of a community’s comprehensive mental health programs and services. This would include the development and implementation of goals, objectives, policies, procedures, budget, standard compliance, and work standards for mental health services. The Director is responsible not only for the services offered under the program, but also for extensive coordination with other county departments, public and private organizations, citizen groups, and the Board of Supervisors.
  • Case management staff ¾ These personnel are responsible for compiling all the services related to the treatment program.
  • Psychiatrists ¾ These individuals may work for a mental health center full or part time, and be Board-eligible or Board-certified in Psychiatry.
  • Psychologists ¾ These individuals will hold Ph.D., Psy.D. or Ed.D. qualifications and be licensed as clinical psychologists in the state.
  • Licensed Independent Social Worker (LISW) ¾ These individuals will have expertise in such services as family counseling, child psychology, geriatric dementia, psychological testing, and so on.
  • Licensed Marriage and Family Therapist (LMFT) — These individuals are specialized in various fields and provide an array of counseling services to patients, dependent on the nature of their problem.
  • Clinical Nurse Specialists ¾ These personnel are certified in psychiatric nursing by a national nursing organization such as the American Nurses Association to practice within the scope of these services and are licensed in the state.
  • Support staff ¾ These staff members would include an administrative assistant to the Director, medical billers, transcriptionist, and possibly a receptionist.
  • Substance Abuse Counselor or Licensed Professional Clinical Mental Health Counselor (LPC or LPCC) — An individual who takes a holistic approach where they exam a person’s external environmental and societal influences while also monitoring inner emotion, physical and behavioral health.

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Counselor Qualifications

A licensed mental health counselor has met or exceeded the following professional qualifications:

  • earned a Master’s degree in counseling or a closely related mental health discipline;
  • completed a minimum of two years post-Master’s clinical work under the supervision of a licensed or certified mental health professional; and
  • passed a state-developed or national licensure or certification examination.

Assessment

Conclusion

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UPDATE: Domestic Markets Soar as United Kingdom Scraps Taxation

By Staff Reporters

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The Dow surged 825 points, or 2.8%. The Dow has soared more than 1,500 points in the past two days. It is now back above the key 30,000 milestone and is about 18% off its most recent record high, meaning that is no longer in a bear market.

The S&P 500 and Nasdaq gained 3.1% and 3.3%, respectively. But both of those indexes remain in bear territory, at more than 20% off their all-time highs.

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The UK is scrapping its plan to remove the 45% top rate of income tax, calling it a huge distraction from other priorities. The plan, which the government defended just recently, caused a mini-financial meltdown before the Bank of England stepped in with emergency measures.

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Three Fundamental Criteria All Physicians Should Consider before Investing

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Re-Appreciating the Basic Three Rs …

By Guy P. Jones CFP® www.guypjones.com

Guy P. Jones

Physician-investors are often confronted with a myriad of decisions concerning any potential investment not the least of which is:

“When or how should I change my investment strategy?”

Given the choice of investment options, there are three criteria by which any investment you make should be evaluated: Risk, Reward and Liquidity.

  • Risk, in a financial context, is defined as: The probability that the actual return on an investment will be lower than the expected return.  For our purposes and for most people, it equates to whether there is the potential to lose money on an investment and how much of a risk you are willing to take in order to achieve an acceptable return.

One measurement of the risk or volatility of market-based investments can be quantified by the beta of an investment.  Beta is a measurement of volatility of an investment and is measured against how volatile an investment is relative to the market.  The beta of the market is always 1.00, so any investment that has a beta of less than 1.00 is less volatile and conversely, one with a beta greater than 1.00 is more volatile.   The desired result is low beta (low volatility) investments that have higher returns vs. the market.  Each of our institutional-class money managers utilize investments that collectively have a beta that is lower than the market while generating results that avoided the steep losses of the stock market in 2000-02 and 2008.*

  • Reward, in a financial context, is the positive return on your investment.  The rule of thumb is that the reward – or return on investment – is directly proportional to the amount of risk that one is willing to assume- i.e. – the higher the risk, the higherreturn on investment.

In addition, traditional thinking says in order to reap stock market-like returns, you have to invest in the stock market.  In our managed portfolios, that is not necessarily the case.  Two of our investment managers, who do not invest in the stock market, have generated average returns over the past 7 and 10 years that are equal to or better than returns of the stock market over similar timeframes with 76-84% less risk as measured by the beta of each manager*

  • Liquidity, in a financial context, means how quickly you can get your hands on your cash or is the ability to get your money whenever you need it.  One of the first things I advise anyone to have is a liquid emergency fund of readily available cash.  By having available cash, you don’t have to convert another asset to cash and create a transaction that could result in potentially adverse tax consequences or worse, trigger losses.  I often see clients sacrifice higher returns that they could be earning on idle cash because of their perceived need for absolute liquidity of their money.  But what if there was a way to have both?  Wouldn’t you want higher returns in low risk, low-volatility assets as well as the ability to get at those assets quickly?

With our multi-manager investment platform, investors have the ability to have a portion of their assets held in a safe, liquid money market account while also having their remaining assets diversified in a variety of low risk, low-volatility investments.

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Assessment

*Past performance is not a guarantee or indicator of future performance

Conclusion

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COVID-19’s Impact on Mental Health and Workplace Well-being

Pandemic Mental Health

By NIHCM

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READ: https://nihcm.org/publications/covid-19s-impact-on-mental-health-and-workplace-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

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PODCAST: Doctors Split from Hospital

By Eric Bricker MD

***

The Story of Tryon Medical Partners shows us that if doctors don’t like the way a hospital is running their practice, they can leave and be successful.

Specifically, the 88 mostly primary care doctors of Tryon Medical Partners sued Atrium Health, the hospital system that owned them, in order to leave and become independent in 2018.

Some of their grievances against the hospital system were:
1. The hospital replaced the nurses in their clinics with medical assistants.
2. The hospital increased the number of patients they needed to see per day and decreased their visit times.

Atrium agreed to let the doctors separate in exchange for dropping the lawsuit.

Just one year later Tryon Medical Partners began to offer Direct Primary Care to local employers and have signed up 30 companies.

The program has been a huge success because an independent primary care practice can work to provide better care at lower costs. Conversely, physicians associated with a hospital system are incentivized to increase healthcare costs.

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HEALTH INSURANCE: 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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Medicare Customers Say Mental Health Benefits Are Very Important

By Staff Reporters

AN eHEALTH SURVEY

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A eHealth survey of 3,800 Medicare customers aged 65 and older asked “When choosing health coverage, how important are mental health benefits?” The survey found: 
•  38% say mental health benefits are “very important” to them when choosing health insurance.
 •  34% say it’s “somewhat important” to them.
 •  22% say mental health benefits are “not so important” to them.
 •  Only 5% say it’s “not at all important.”
Source: eHealth, “Seniors Speak Out On Mental Health,” March 2022

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Text or Call 988: SAMHSA – Substance Abuse and Mental Health Services Administration

By Staff Reporters

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988, a New National Suicide Hotline, Launched on July 16th, 2022

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A new national suicide hotline, 988, becomes operational nationwide on July 16th. People experiencing a mental health emergency, such as suicidal thoughts, a substance-use crisis, or any other emotionally distressing event, will be able to call during times of crisis, but operators will also be available via text and online chat (at https://suicidepreventionlifeline.org/chat), according to the Substance Abuse and Mental Health Services Administration (SAMHSA).

The 988 hotline will essentially replace the National Suicide Prevention Lifeline (1-800-273-TALK); however, the previous hotline will not be discontinued when 988 is rolled out, and callers will be directed to the same services offered via 988. Mental health experts say the new hotline will provide necessary updates to the services currently provided by the 1-800 number, chief among them a focus on sending trained experts to respond to mental health emergencies rather than law enforcement who are unfamiliar with protocols when approaching suicidal individuals.

***

READ: https://www.samhsa.gov/find-help/988

MORE: https://www.kevinmd.com/2022/07/new-988-hotline-has-potential-to-transform-mental-health-care-but-challenges-loom.html

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PODCAST: Inflation Reduction Act [IRA] and Healthcare

THE AGENDA 2022 AND BEYOND!

By Eric Bricker MD

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FIGHTING Inflation!

By Staff Reporters

Fed Official Says Inflation Fight Will Take Time, Despite Signs of Progress

Bringing inflation down from 40-year highs is likely to take time and will require a slowdown in economic growth and reduced demand for workers by employers, a Federal Reserve official said yesterday.

Those efforts are showing tentative signs of progress, said Fed governor Philip Jefferson, in his first public remarks since taking office in May. But Mr. Jefferson also said he remains concerned that higher prices could change consumer expectations around inflation in a way that makes further price increases self-fulfilling.

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READ: Fed Official Says Inflation Fight Will Take Time, Despite Signs of Progress (msn.com)

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On the Prevalence of Mental Health Issues

 The 7 most common issues

By http://www.MCOL.com

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Conclusion

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It’s OK = Not to Be OK: Physician Burnout and Mental Health

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Percent of Population Under 65 With Mental Health Disorders

By Staff Reporters

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EBRI: % of Population Under 65 With Mental Health Disorders

 •  Anxiety disorders: 8.1%
 •  Major depressive disorders: 5.3%
 •  Attention deficit hyperactivity disorder: 2.8%
 •  Other behavioral/mental health disorders: 2.2%
 •  Bipolar and manic disorders: 0.7%
 •  Post-traumatic stress disorder: 0.5%
 •  Phobic anxiety disorders: 0.4%
 •  Autistic disorder: 0.3%
 •  Obsessive-compulsive disorder: 0.2%
 •  Eating disorders: 0.2%
 •  Schizophrenic disorders: 0.1%
 •  Dissociative disorders: 0.04%
 •  Delusional disorders: 0.02%

Source: EBRI, “How Do High-Deductible Health Plans Affect Use of Health Care Services and Spending Among Enrollees With Mental Health Disorders?” March 10, 2022

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On Cultural Sensitivity in Education and Medicine

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A Modern Integral Component of Healthcare Training

[By Render S. Davis MHA CHE]

[By Dr. David Edward Marcinko MBA]

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While America has often been called a “nation of immigrants,” it has never been more true than today. Consequently, the challenge for physicians and other health care providers, in both large cities and small communities, is meeting the health care needs of increasingly diverse and multi-cultural populations who speak different languages and have social norms, traditions, and values that may substantially differ from their own. Problems arise when clinicians expect, even demand, that patients and their families discard their cultural foundations and adhere to the health care provider’s view of the care and decision-making process.

Instead, the health care team should be more aware of and sensitive to the values and beliefs of patients who come from other cultures; working within to assure that the patient’s individual rights are supported and wishes honored to the fullest extent possible.

In her award-winning book, The Spirit Catches You and You Fall Down, Ann Fadiman chronicled this tragic clash of two cultures in medical care for a child of the traditional Hmong people of Laos, transplanted to California after the Vietnam War.

In the book, Fadiman recounts a conversation with Professor Arthur Kleinman of Harvard University, a highly regarded expert in multicultural relations and conflict, who noted that “If you cannot see that your own culture has its own set of interests, emotions, and biases, how can you expect to deal successfully with someone else’s culture?”

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Former U.S. Surgeon General David Satcher, M.D., Ph.D., now Director of the Satcher Health Leadership Institute at Morehouse College of Medicine in Atlanta, Georgia, helped develop a special curriculum designed to foster greater cultural competence among physicians and health care providers.

Called the “CRASH Course,” the program emphasizes:

  1. Cultural Awareness. Acknowledging the diversity and legitimacy of the many cultures that make up the fabric of American Society;
  2. Respect. Valuing other cultural norms, even if they differ or conflict with your own;
  3. Assess and affirm. Understanding the points of both congruence and difference among cultural approaches to decision-making; learning how to achieve the best outcomes within the cultural framework of the patient and family unit;
  4. Sensitivity and self awareness. Being secure in your own values; while willing to be flexible in working through cultural differences with others;
  5. Humility. Recognizing that every culture has legitimacy and that no one is an expert in what is best for others; being willing to subordinate your values for those of another to achieve the goals of treatment.

There is little doubt that multi-cultural sensitivity will continue to grow as an increasingly integral component of medical education and risk management in health care practice.

Dr. Marcinko Teaching Philosophy

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anatomy-254120_640

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Channel Surfing the ME-P

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Conclusion

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About the Author

Render Davis was a Certified Healthcare Executive, now retired from Crawford Long Hospital at Emory University, in Atlanta, GA He served as Assistant Administrator for General Services, Policy Development, and Regulatory Affairs from 1977-95.  He is a founding board member of the Health Care Ethics Consortium of Georgia and served on the consortium’s Executive Committee, Advisory Board, Futility Task Force, Strategic Planning Committee, and chaired the Annual Conference Planning Committee, for many years.  

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

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Dentistry’s SECRET!

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By Darrell Pruitt DDS

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“Small- and medium-sized businesses with two to 200 employees suffered the most attacks during the period, accounting for 46%, or 2,300 ransomware attacks total, according to the report.” That’s us, Doc. Patterson and Schein won’t admit it, but if you don’t put patients’ information on a computer, you and your patients are completely safe from ransomware.

“US organizations hit by almost half of all ransomware since 2020 – American exceptionalism extends to ransomware as organizations based in the U.S. suffered the greatest number of attacks, ahead of Canada and the U.K.

By Matt Kapko: Cybersecurity Dive, Sept. 28, 2022.

Paper’s security“Report: 90% of companies affected by ransomware in 2022 – An annual SpyCloud survey found that 90% of organizations were impacted by ransomware over the past twelve months, an alarming increase from last year’s 72.5%.”

– Yet still none involved paper dental records –

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PODCAST: The Real Secret About Why Corporate Mergers Fail

AN AUDIO PRESENTATION

 

By Vitaliy Katsenelson CFA

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Corporate acquisitions often fail for one simple reason: the buyer pays too much. An old Wall Street adage comes to mind: Price is what you pay, value is what you get.

It all starts with a control premium

When we purchase shares of a stock, we pay a price that is within pennies of the last trade. When a company is acquired, the purchase price is negotiated during long dinners at fine restaurants and comes with a control premium that is higher than the latest stock quotation.

How much above?

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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™

 

What is EBITDA?

A TERM ALL PHYSICIAN INVESTORS MUST KNOW

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What Is Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)?

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EBITDA, or earnings before interest, taxes, depreciation, and amortization, is a measure of a company’s overall financial performance and is used as an alternative to net income in some circumstances. EBITDA, however, can be misleading because it strips out the cost of capital investments like property, plant, and equipment.

This metric also excludes expenses associated with debt by adding back interest expense and taxes to earnings. Nonetheless, it is a more precise measure of corporate performance since it is able to show earnings before the influence of accounting and financial deductions.

Why EBITDA is still a Great Financial Management Metric

Simply put, EBITDA is a measure of profitability. While there is no legal requirement for companies to disclose their EBITDA, according to the U.S. generally accepted accounting principles (GAAP), it can be worked out and reported using the information found in a company’s financial statements.

The earnings, tax, and interest figures are found on the income statement, while the depreciation and amortization figures are normally found in the notes to operating profit or on the cash flow statement. The usual shortcut to calculate EBITDA is to start with operating profit, also called earnings before interest and tax (EBIT) then add back depreciation and amortization.

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

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

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MUSK versus TWITTER

By Staff Reporters

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Quote: “Maybe Oprah would be interested in joining the Twitter board if my bid succeeds.”

Floating Oprah as a Twitter board member to CBS anchor Gayle King is just one of many juicy Elon Musk texts that were released yesterday ahead of the Musk v. Twitter trial.

Also included in the treasure trove: Oracle co-founder Larry Ellison pledging $1 billion to Musk’s take-private bid because “it would be lots of fun” and former Twitter CEO Jack Dorsey endorsing Musk’s attempted takeover because, “It’s too critical for humanity.”

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CREDIT Suisse?

By Staff Reporters

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Leaders at the Swiss bank tried to calm down investors and clients after concerns mounted about its weak financial position, the FT reported.

Credit Suisse’s stock price has fallen to a record low and spreads on its credit default swaps have spiked, suggesting that investors are worried about it potentially defaulting.

CEO Ulrich Körner fired off a memo assuring employees that the bank has a “strong capital base and liquidity position,” but it remains in a “critical moment” ahead of a massive overhaul.

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FINANCIAL MANAGEMENT STRATEGIES: For Hospitals and Healthcare Organizations

Managerial Accounting

TOOLS, TECHNIQUES, CHECKLISTS AND CASE STUDIES

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TEXT: 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

Reviews

Navigating a course where sound organizational management is intertwined with financial acumen requires a strategy designed by subject-matter experts. Fortunately, Financial Management Strategies for Hospital and Healthcare Organizations: Tools, Techniques, Checklists and Case Studies provides that blueprint.
David B. Nash, MD, MBA, Jefferson Medical College, Thomas Jefferson University

It is fitting that Dr. David Edward Marcinko, MBA, CMP™ and his fellow experts have laid out a plan of action in Financial Management Strategies for Hospital and Healthcare Organizations that physicians, nurse-executives, administrators, institutional CEOs, CFOs, MBAs, lawyers, and healthcare accountants can follow to help move healthcare financial fitness forward in these uncharted waters.
Neil H. Baum, MD, Tulane Medical School

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Dictionary of Health Information Technology and Security

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Whither the “Dictionary of Health Information Technology and Security?”

DHITS

A simple query that demands a cogent answer!

There is a myth that all stakeholders in the healthcare space understand the meaning of basic information technology jargon. In truth, the vernacular of contemporary medical information systems is unique, and often misused or misunderstood. It is sometimes altogether confounding.

Terms such as, “RSS”, “eHRs”, “DRAM”, “ROM”, “USB”, “PDA”, “NPI”, “CCHIT”, and “DNS” are common acronyms, but is their meaning AND functionality truly understood?

We appreciate the support of our sponsors. So, click-on on the links below and review all dictionary products.

Link: http://healthdictionaryseries.com/TechnologySecurity.aspx

HDS

 

 

 

Link: http://www.findbookprices.com/author/Hope_Hetico

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DOCTOR SIEGEL Speaks

By Staff Reporters

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Wharton professor Jeremy Siegel says predictions of a lost decade in the stock market are unfounded and 6% annual returns are likely after inflation.

READ: https://www.msn.com/en-us/money/markets/wharton-professor-jeremy-siegel-says-predictions-of-a-lost-decade-in-the-stock-market-are-unfounded-and-6-annual-returns-are-likely-after-inflation/ar-AA12rjKm?cvid=a220a2a6cd9f422686166062b87f7ebf

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COMMENTS APPRECIATED

Thank You

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

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