GAS PRICES: Up Again!

By Staff Reporters

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Gas prices are continuing to rise to start 2023, and experts say prices are “unlikely to turn around any time soon.” And, the current average for a regular gallon of gas $3.50, according to AAA.

While it’s nowhere near the record $5.01 reached in June, its far more than what the average was heading into New Year’s Day and what prices were one year ago.

And, experts say it’s possible the average price reaches $4 later this year.

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

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

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HEALTHCARE: Top A.I. Companies to Watch!

By Bertalan Mesko MD PhD

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TOP ARTIFICIAL INTELLIGENCE COMPANIES IN HEALTHCARE TO KEEP AN EYE ON 

More and more companies set the purpose to disrupt healthcare with the help of artificial intelligence. Given how fast these companies come and go, it can prove to be hard to stay up-to-date with the most promising ones.

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

So, I collected the most prominent names currently on the market ranging from start-ups to tech giants to keep an eye on in the future.

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PODCAST: How Doctors are Really Paid?

Learn the Incentives in Physician Compensation

BY ERIC BRICKER MD

RAND and Harvard University Researchers Recently Published a Study in the Journal of the American Medical Association Examining How Doctors are Paid by Hospital System-Owned Practices. The Study Found that only 9% of Primary Care Physician Compensation was Based on Value (Quality and Cost-Effectiveness) and only 5.3% of Specialist Compensation was Based on Value.

The Study Concluded: “The results of this cross-sectional study suggest that PCPs and specialists despite receiving value-based reimbursement incentives from payers, the compensation of health system PCPs and specialists was dominated by volume-based incentives designed to maximize health systems revenue.”

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MORE: https://medicalexecutivepost.com/2020/09/19/what-doctors-must-do-to-file-an-aetna-claim-to-get-paid/?preview_id=237387&preview_nonce=44f9028974&preview=true

RELATED: https://medicalexecutivepost.com/2008/09/12/how-doctors-get-paid/

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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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HOSPITALS: 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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FAs & CPAs Wanted -BUT- Certified Medical Planners® Needed?

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Career Development, Products and Services for Medical Specificity

“The informed voice of a new generation of fiduciary advisors for healthcare”

SPONSOR: http://www.CertifiedMedicalPlanner.org 

CMP

FINANCIAL ADVISER WANTED: New York’s Belfer family, which gained riches from oil, is racking up quite an investing losing streak. They lost billions in Enron’s collapse and were clients of Bernie Madoff, and now it’s come to light that they were shareholders in FTX.

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CPAs WANTED: Just as tax season kicks off, US firms are facing a national shortage of accountants, forcing them to look overseas for workers to look over your W-2. More than 300k accountants and auditors have quit in the last two years, per the WSJ.

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CMPs NEEDED: The Certified Medical Planner® program was created in response to the frustration felt by doctors in small and mid-sized practices that dealt with top financial, brokerage and accounting firms. These non-fiduciary behemoths often prescribed costly wholesale solutions that were applicable to all, but customized to few, despite ever changing needs.

Enter the CMPs

Learn why brokerage sales-pitches and/or internet resources will never replace the knowledge and deep advice of a collegial Certified Medical Planner® professional.

Letterhead CMP

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Artificial Intelligence Passes U.S. Medical Licensing Exam

ChatGPT

By Staff Reporters

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Two papers show that large language models, including ChatGPT, can pass the USMLE. The papers highlighted different approaches to using large language models to take the USMLE, which is comprised of three exams: Step 1, Step 2 CK, and Step 3. ChatGPT is an artificial intelligence (AI) search tool that mimics long-form writing based on prompts from human users. It was developed by OpenAI, and became popular after several social media posts showed potential uses for the tool in clinical practice, often with mixed results.

According to Victor Tseng, MD, of Ansible Health in Mountain View, California, and colleagues, the results showed “new and surprising evidence” that this AI tool was up to the challenge. Tseng and team noted that ChatGPT was able to perform at >50% accuracy across all of the exams, and even achieved 60% in most of their analyses. While the USMLE passing threshold does vary between years, the authors said that passing is approximately 60% most years.

Source: Michael DePeau-Wilson, Medpage Today [1/19/23]

RELATED: https://medicalexecutivepost.com/2013/06/21/will-future-doctors-need-a-medical-license/

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AMERICANS: Cash Savings Rate Up!

By Staff Reporters

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Whether we’ve got a recession coming remains the biggest will they or won’t they story, but it looks like more Americans are starting to sock away cash just in case.

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

Data just released by the Department of Commerce puts the savings rate for December at 3.4%—the highest level in seven months and the biggest uptick from the previous month since July 2021 (November’s rate was 2.9%).

EMERGENCY FUND: https://medicalexecutivepost.com/2022/08/20/the-national-emergency-fund/

Could be that everyone’s just saving up for breakfast eggs and Ticketmaster concerts?

MD Emergency Funds: https://medicalexecutivepost.com/2007/12/05/emergency-funds/

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DAILY UPDATE: Stocks Rise with Economic Data

By Staff Reporters

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Q4’s strong GDP numbers are raising hopes that the Fed could actually pull off the tricky “soft landing”—where it knocks down inflation through interest rate hikes without sending economic growth into reverse. The resilient labor market is cooperating: Despite all the headlines about layoffs, jobless claims fell last week to their lowest point since April 2022.

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

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U.S. stocks ended the day in the green as the markets digested a host of economic and earnings data. The economic calendar came in heavy today, as Q4 GDP growth was higher than expected, jobless claims unexpectedly fell, new home sales rose, and durable goods orders jumped, but dipped when stripping out the volatile component of transportation activity. Several Dow members were in focus, as IBM exceeded expectations, though its cash flow performance garnered some scrutiny on the Street, and Dow Inc. missed quarterly estimates. Fellow Dow component Chevron announced an increased dividend and a new $75.0 billion share repurchase plan, while in other news, Tesla topped quarterly estimates and offered an upbeat outlook.

Treasury yields traded mostly higher, and the U.S. dollar advanced, while crude oil prices increased, and gold moved to the downside.

Asian stocks finished mixed in lighter volume as several markets remained closed for holidays, while markets in Europe were higher for the most part, adding to the region’s strong start to the year.

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AMAZON: Launches “RxPass” Generic Drug Subscription Program

PRIME MEMBERSHIP

By Staff Reporters

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Yesterday, Amazon announced the launch of RxPass: an add-on to Prime memberships that provides subscribers with access to 50 generic prescription drugs for a $5 monthly fee.

RxPass will launch immediately in most states (though not California and Texas, the most populous ones) and include generic drugs that treat common conditions like high blood pressure, anxiety, acid reflux, and hair loss. About 150 million US residents have a prescription for one of the drugs included in RxPass, according to Amazon.

But the service is not available to people on Medicare or Medicaid, and it doesn’t offer insulin.

RxPass is Amazon’s answer to the Mark Cuban Cost Plus Drug Company (which offers significantly more medications—1,100 of them) and is likely part of an effort to attract more users to Amazon Pharmacy. Amazon Pharmacy could use the boost—it launched in 2020 but ranked at the bottom of a list of which Prime perks drew members to the service, a Morgan Stanley survey found last summer.

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PODCAST: Medicare Advantage Plan Over Payments

A SYNOPSIS

By Eric Bricker

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PODCAST: Government Overpayments to Medicare Advantage Plans are a major problem.

CMS pays Medicare Advantage Plans per member based on a risk score. The more chronic conditions the person has, the larger the payments CMS makes to the Medicare Advantage Plan.

Medicare Advantage Plans may be overexaggerating how sick their members are in order to increase their payments from CMS.

The Department of Justice is currently suing Cigna and Elevance (Anthem) for such over exaggerations.

However there is a deeper problem… CMS itself had performed its own audits, but has not done so in 10 years. CMS identified $650M in overpayments and did nothing about them.

When the Kaiser Family Foundation (KFF) requested information on the audits, CMS refused. KFF had to sue CMS to obtain the audit information and it took 3 years for KFF to win the case.

Perhaps it is incompetence on the part of CMS or perhaps CMS does not want to reveal the audits or do anything about them due to political pressure.

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ORDER: 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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IRS TAX FILING: Joint or Separate for Married Couples?

INTUIT

By Staff Reporters

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Married couples have the option to file jointly or separately on their federal income tax returns. The IRS strongly encourages most couples to file joint tax returns by extending several tax breaks to those who file together.

In the vast majority of cases, it’s best for married couples to file jointly, but there may be a few instances when it’s better to submit separate returns.

READ HERE: https://turbotax.intuit.com/tax-tips/marriage/should-you-and-your-spouse-file-taxes-jointly-or-separately/L7gyjnqyM?dclid=CKzxz8Pzy_wCFeMBwQods3cDLQ

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PODCAST: Hospital Money Problems 2023

INFLATION AND COMPETITION

By Eric Bricker MD

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ORDER: https://www.amazon.com/Hospitals-Healthcare-Organizations-Management-Operational/dp/1439879907/ref=sr_1_4?s=books&ie=UTF8&qid=1334193619&sr=1-4

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PODCAST: Medicare Traditional [A and B] v. Advantage [C] v. Part [D] v. Supplements

By Eric Bricker MD

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

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ORDER: 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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JANUARY: Cervical Cancer Awareness Month

By Staff Reporters

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Cervical Health Awareness Month

The United States Congress designated January as Cervical Health Awareness Month. More than 14,000 women in the United States are diagnosed with invasive cervical cancer each year, but the disease is preventable with vaccination and appropriate screening.

During January, NCCC and its many local chapters across the country highlight issues related to cervical cancer, HPV disease and the importance of early detection. While NCCC chapters host events throughout the year, January is a month with a special focus as chapters celebrate Cervical Health Awareness Month and work to spread the word in their communities.

NCCC and the American Sexual Health Association (ASHA) also offer a range of resources (listed below) to educate the public and healthcare providers about cervical health, from fact sheets to episodes of ASHA’s Sex+Health podcast.

READ: https://www.nccc-online.org/cervical-health-awareness-month/

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The U.S. Debt Ceiling

By Staff Reporters

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As the US just crashed into the $31.4 trillion debt ceiling as the Treasury Department began taking what it called “extraordinary measures” to prevent the government from defaulting on its debts and sparking an economic crisis.

These measures are a series of deep-cut accounting moves that allow the Treasury to continue making its payments. They include:

  • Suspending reinvestments into government funds for retired federal employees, such as the Civil Service Retirement and Disability Fund.
  • Selling existing investments in those funds to free up more outstanding debt.

And while these measures definitely aren’t ordinary…they probably aren’t so “extra,” either. The Treasury has resorted to them more than 12 times since 1985, including during the last debt-ceiling standoff in 2021.

Still, these steps amount to chugging water after eating a ghost pepper—the pain will return. Treasury Secretary Janet Yellen said her extraordinary measures will last through early June, giving lawmakers about five months to work out a deal to raise the debt ceiling.

NOTE: The US has never defaulted on its debt, but even the threat of it could be disastrous. The country’s first credit downgrade in history came during a debt-ceiling showdown in 2011.

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Alphabet Soup: Financial Designations & Certificates

Join Our Mailing List 

financial-designationsjuly

AUTHOR: Dr. David Edward Marcinko; MBA, CMP™

POSITION: Publisher-in-Chief

dem26

TOPIC: Financial Designations and Certifications [Alphabet Soup of Industry Obfuscation and Self-Promotion, or Real Gravitas – You Decide?]

EXCERPT: “Until recently, most financial advisors were regulated by the NASD, the National Association of Securities Dealers. Now the Financial Industry Regulatory Authority or FINRA is the largest non-governmental regulator for all securities firms doing business in the United States. It is a self-regulatory agency comprised of the nation’s brokerage firms. Upon completion of a required exam the FINRA will issue a variety of licenses. The most common are the Series 6, 7, and 24.

The Series 6 is essentially a license to sell packaged products, namely mutual funds. It is most commonly held by insurance agents and bank representatives. It is considered a very easy test. Holding such a license allows the holder to collect commission income through its member firm.

The Series 7 exam is a bit more difficult and includes issues relating to individual securities such as stocks, bonds and limited partnership interests. The pass rate is lower than the Series 6. The probable culprit is the extensive questioning on margin and options, topics most are unfamiliar with prior to entering the securities business.

The Series 24 covers issues of compliance and supervision and is required of Branch Managers of brokerage firms. All registered representatives (the proper name for a broker) must be supervised by someone with a Series 24, also known as a principal’s license.

Checking the background of a registered representative, a branch manager or a member firm is easily done through NASD and/or FINRA Regulation, Inc. NASDR/FINRA maintains the Central Registration Depository (CRD). The CRD can be checked for a description of a disclosed event by phone or by Internet. One should request information on an advisor’s firm as well as the individual. A reputable advisor at a disreputable firm has its own set of potentially dangerous implications.

Regardless of the above, these tests produce licenses to sell financial products. They are not educational achievements. There is virtually no academic barrier to entry for them. Stock-brokers today – hate the term – and prefer “financial advisor”; yet the term has no real meaning other than as a sales license.

Some are college graduates, and beyond; while some other experts argue that too many are not!”

Hence, the need to “raise the bar to fiduciary accountability with deep knowledge of healthcare modernity.”

For more info: http://www.CertifiedMedicalPlanner.org

READ JULY HERE: financial-designationsjuly

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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HOSPITALS: Financial Management Update

By Staff Reporters

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Hospitals saw a slight financial boost in November 2022, despite continued negative operating margins throughout the year, according to a new Kaufman Hall National Hospital Flash Report, as reported in Healthcare Brew.

Lower expenses and increased outpatient revenue help buoy their performance and increase margins by 12% month over month from October 2022. But Kaufman Hall, a management consulting firm, reported that its year-to-date operating margin index reflected an actual negative figure of -0.2% in November 2022.

The findings underscore the financial challenges hospitals continue to face as they recover from the Covid-19 pandemic.

And, Erik Swanson, senior vice president of data and analytics at Kaufman Hall, wrote that the “November data, while mildly improved compared to October, solidifies what has been a difficult year for hospitals amidst labor shortages, supply chain issues, and rising interest rates.”

ORDER: https://www.amazon.com/Hospitals-Healthcare-Organizations-Management-Operational/dp/1439879907/ref=sr_1_4?s=books&ie=UTF8&qid=1334193619&sr=1-4

The monthly report, which is based on data from more than 900 hospitals, partially attributed November’s lowered expenses to a decline in patient volume and slightly shorter lengths of stay. Decreased labor costs, likely due to a drop in a reliance on contract labor, also helped lower expenses, the Kaufman analysis found.

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

Hospitals further saw a 10% increase year over year in outpatient revenue in November 2022, despite inpatient revenue remaining flat, according to the report. Swanson said “[h]ospital leaders should continue to develop their outpatient care capabilities amid ongoing industry uncertainty and transformation.”

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BANKRUPT: Genesis Global Chapter 11

By Staff Reporters

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The bankruptcy of Barry Silbert’s Genesis Global may not have pummeled crypto markets like the implosion of Sam Bankman-Fried’s FTX did, but it features a list of top creditors with similarly large claims topping $3 billion in total.

According to Bloomberg, Genesis’s Chapter 11 filing on Thursday listed seven creditors owed at least $100 million. By far the biggest one is a $766 million claim related to customers of crypto exchange Gemini, who have money stuck with Genesis’s lending unit. FTX-linked entities have 10 claims of more than $100 million, according to a redacted list filed Saturday. 

In all, Genesis owes its top 50 creditors $3.4 billion; for FTX, that figure stands at $3.1 billion. While some of the names of Genesis’ biggest creditors have been redacted in the filing, below is a list of major names.

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HEALTHCARE FRAUD: Predatory Senior Medicare Scams

By Staff Reporters

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As you likely know, the US spends much on healthcare ($4.3 trillion in 2021, to be exact). But did you also know that healthcare fraud makes up a not-so-small piece of that pie?

The National Health Care Anti-Fraud Association (NHCAA), a national organization that works to prevent health insurance fraud, conservatively estimates that 3% of the US’s total annual healthcare spend—a hearty $129 billion—is lost to healthcare fraud. Some government agencies estimate that percentage to be as high as 10% (that’s $430 billion), according to the NHCAA.

Overall, Medicare fraud costs the US about $60 billion each year, Nicole Liebau, national resource center director for Senior Medicare Patrol, a government-funded organization designed to help prevent Medicare fraud, told Healthcare Brew, though she added that “the exact figure is impossible to measure.”

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

While Medicare fraud isn’t new, the US saw a rise in one particular tactic during the pandemic: a durable medical equipment (DME) scheme.

How the schemes work.

In a DME scheme, scammers target Medicare patients—often after a procedure or an injury—and cold-call them to offer free equipment, said Jennifer Stewart, senior associate general counsel and senior director of fraud prevention and investigation at Blue Cross Blue Shield of Massachusetts. The scammers offer consumers items like lidocaine, wheelchairs, walkers, or braces.

The scammers have roped in doctors—who are often unaware they’re working with scammers instead of legitimate medical companies—to sign off on prescriptions that are then used to bill Medicare for the equipment, Stewart said. Sometimes patients actually receive the products, and sometimes they don’t.

“It’s really dangerous because [a prescription like lidocaine] could have reactions with other medications. The durable medical equipment isn’t sized for them, and certainly the doctor who treated their injury didn’t prescribe it […] There is a lot of patient harm involved,” Stewart said. Keep reading here.

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“BEAR” it …. So Says Leon Cooperman?

By Staff Reporters

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DEFINITION

A bear market is when a market experiences prolonged price declines. It typically describes a condition in which securities prices fall 20% or more from recent highs amid widespread pessimism and negative investor sentiment.

Bear markets are often associated with declines in an overall market or index like the S&P 500, but individual securities or commodities can also be considered to be in a bear market if they experience a decline of 20% or more over a sustained period of time—typically two months or more. Bear markets also may accompany general economic downturns such as a recession. Bear markets may be contrasted with upward-trending bull markets.

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

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So, If you are feeling optimistic the new year will usher in a change in stock market dynamics and shift sentiment from bear to bull-forget about it!? Leon Cooperman has some bad news for you.

The billionaire investor has been a fully-fledged bear for a while now and 2023 has done little to change his stance. “Anybody looking for a new bull market any time soon is looking the wrong way,” Cooperman said.

In fact, Cooperman thinks there’s only a 5% chance the S&P 500 sees out 2023 above the 4,400 mark (up 13% from current levels), believing the stock market is far likelier to head back down from here.

Cooperman evidently knows a thing or two about investing in bear markets, and if we’re to heed his advice, it’s best to look for ‘safe havens’ to shield from further incoming volatility. OR- Maybe not!

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PODCAST: “Sage Transparency” on Hospital Prices

EMPLOYER SPONSORED HEALTH INSURANCE PLANS

By Eric Bricker MD

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CRYPTO-CURRENCY: Worth Since 2020?

By Staff Reporters

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Winners Since March 2020:

Here’s how much $100 in each of the following cryptocurrencies and stocks back at the bottom of the U.S. market in March 2020 would be worth today:

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

  • Bitcoin (CRYPTO: BTC): $405.67
  • Ethereum (CRYPTO: ETH): $1,268.90
  • Dogecoin (CRYPTO: DOGE): $4,731.19

DHIT: https://www.amazon.com/Dictionary-Health-Information-Technology-Security-ebook/dp/B005F84GF2/ref=sr_1_3?crid=2SQPPJMMUV55D&keywords=david+marcinko&qid=1674073311&sprefix=david+marcinko%2Caps%2C115&sr=8-3

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ABOUT: “Turn-it-In”

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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Turnitin (stylized as turnitin) is an Internet-based plagiarism detection service run by the American company Turnitin, LLC, a subsidiary of Advance Publications.

LINK: http://www.TurnItIn.com

Founded in 1998, it sells its licenses to universities and high schools who then use the software as a service (SaaS) website to check submitted documents against its database and the content of other websites with the aim of identifying plagiarism. Results can identify similarities with existing sources and can also be used in formative assessment to help students learn to avoid plagiarism and improve their writing.

Students may be required to submit work to Turnitin as a requirement of taking a certain course or class. The software has been a source of controversy, with some students refusing to submit, arguing that requiring submission implies a presumption of guilt. Some critics have alleged that use of this proprietary software violates educational privacy as well as international intellectual-property laws, and exploits students’ works for commercial purposes by permanently storing them in Turnitin’s privately held database.

ChatGPT: https://medicalexecutivepost.com/2023/01/17/chatgpt-a-microsoft-start-up-venture/

Turnitin, LLC also runs the informational website plagiarism.org and offers a similar plagiarism-detection service for newspaper editors and book and magazine publishers called iThenticate. Other tools included with the Turnitin suite are GradeMark (online grading and corrective feedback) and PeerMark (student peer-review service).

NOTE: According to Wikipedia, in March 2019, Advance Publications acquired private Turnitin, LLC for US$1.75 billion.

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PODCAST: Employee Engagement and Health Plans

By Eric Bricker MD

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

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DAILY UPDATE: Cathie Wood, META and Index Futures

By Staff Reporters

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Cathie Wood and Ark’s flagship exchange-traded fund Ark Innovation ETF (NYSE: ARKK) bought 168,989 shares of Tesla on Friday, valued at $20.68 million at the session’s closing price. The stock ended Friday’s session down 0.94% at $122.40, according to Benzinga Pro data. At one point in the session, the loss was as much as 6.4%. For the week, the stock gained 8.26%.

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

Investing $1,000 in META Stock: Shares of Meta Platforms traded at $332.46 on June 4, 2021. A $1,000 investment could have purchased 3 shares of META stock. The $1,000 investment would be worth $410.94 today, based on a current price of $136.98 for Meta Platforms. This represents a loss of 58.9% in 19 months.

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European equities and US stock-index futures fell amid signs central banks will turn more hawkish and as investors focused on earnings reports from Wall Street banks.

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ChatGPT: A Microsoft Start-Up Venture!

By Staff Reporters

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Microsoft is reportedly preparing for its largest startup investment in history: a $10 billion stake in OpenAI that could value the research lab at $29 billion. OpenAI is the creator of potentially groundbreaking AI tools like ChatGPT, the multitalented chatbot that can code in Python and help high schoolers cheat on English essays.

MSFT has already invested $1 billion in OpenAI, but thinks an even tighter relationship would help it better compete with Big Tech rivals like Google (which reportedly declared a “code red” over ChatGPT’s threat to its search dominance).

But Microsoft’s AI ambitions go beyond just integrating ChatGPT know-how into its own search engine, Bing. The company wants to use OpenAI’s tools in its Office suite—and it’s already experimenting with algorithms to help users craft emails in Outlook.

OpenAI was founded in 2015 as a mission-based AI research organization by a roster from Silicon Valley’s A-list, including Elon Musk. Its stated goal is to develop safe AI for the benefit of humanity. But OpenAI has plenty of critics who have called it out for ethical concerns, a lack of transparency, and abandoning its mission for profits.

According to MorningBrew, a slew of buzzy AI product releases in 2022 has startup investors forgetting they ever heard the word “metaverse.” Languishing in the prolonged crypto winter and facing an uncertain economic environment, many venture capitalists see the field as the next big thing to shovel money into their coffers.

MORE :https://www.kevinmd.com/2023/01/revolutionizing-medicine-how-chatgpt-is-changing-the-way-we-think-about-health-care.html

RELATED: https://medicalexecutivepost.com/2023/01/18/about-turn-it-in/

UPDATE: Bill Gates just hinted that he may be working on Open AI’s large language chatbot ChatGPT in collaboration with Microsoft if the reported $10 billion investment in the start-up goes through. Gates also admitted that he’s still involved with the company’s research and product plans, and said he’s watching the developments in ChatGPT “very closely.”

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CRYPTO-CURRENCY: Trades 24/7/365

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The US stock and bond markets are closed today for MLK Day, so we’ll have to wait 24 more hours to see if this year-opening rally will continue for a third week.

But crypto currency trades 24/7, and the same hopeful inflation news that’s been lifting stocks has also given life to beaten-down cryptocurrencies. Bitcoin gained for the 11th straight day on Saturday, topping $20,000 for the first time in more than two months.

So, here are some ways in which the non-stop crypto market affects institutions — banks and exchanges, in particular.

The stock market takes a break every day, and every weekend. That gives all the players in the market — individual investors and institutions — a chance to assess and reposition their assets for their next moves. But since crypto trades all the time, there are stretches during the 24-hour day when banks and exchanges are effectively closed, and money isn’t being moved around as quickly or efficiently as it would during business hours.

This can cause lags — if a crypto trader is trying to deposit money into their crypto exchange account to execute a trade at, say, 2 am ET on a Sunday night, that money won’t actually move until the next day. That has the potential to cause some friction in the markets.

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

In short, there’s a mismatch between the standard business hours of many institutions and the 24-hour nature of the crypto markets, which may have an effect on the markets.

MORE: https://www.newsnow.co.uk/h/Business+&+Finance/Cryptocurrencies

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MEDICARE SUPPLEMENT INSURANCE: Part G

What is it and How Does it Work?

By Staff Reporters

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Did you know that Medicare Plan G is the most popular Medicare Supplement with Baby Boomer clients? Everyone has heard of Plan F, but what is Medicare Supplement Plan G? What does Plan G cover?

Medicare Plan G coverage is very similar to Plan F, which is no longer available for people new to Medicare on or after January 1st, 2020. Plan G offers great value for beneficiaries willing to pay a small annual deductible. After that, Plan G provides full coverage for all of the gaps in Medicare. It pays for your Medicare Part A hospital deductible, co-pays, and coinsurance. It also covers the 20% that Medicare Part B doesn’t cover. Doctors and other healthcare providers must accept a Medigap Plan G if they accept Original Medicare. Plan G policies can be used across the U.S. since they do not have network limitations, and the premium costs can be very reasonable for the coverage you receive.

As you can see below, Supplement Plan G covers almost everything that F does, except for the Part B deductible.

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Medicare Plan G, also called Medigap Plan G, is an increasingly popular Supplement

Reasons:

First, Plan G covers each of the gaps in Medicare except for the annual Part B deductible. This deductible is only $226 in 2023. In fact, if you have a Plan F that has been in place for years, it can probably help you on premiums by looking at Plan G. When you shop for benefits, you can often find a Supplement Plan G that saves quite a bit in premiums over Plan F, usually substantially more than the $226 deductible that you’ll pay out.

Second, it has great coverage. For hospital stays, it covers all your hospital expenses. Most importantly, it pays the hospital deductible, which is over $1,600 in 2023. It also covers the expensive daily co-pays that you might encounter for a hospital stay that runs longer than 60 days. It provides an additional 365 days in the hospital after your Medicare benefits run out, and it covers your skilled nursing facility co-insurance, too.

What Other Medical Services Does Plan G Cover?

Medicare Supplement Plan G covers your percentage of any medical benefit that Original Medicare covers, except for the outpatient deductible. So, it helps to pay for inpatient hospital costs, such as the first three pints of blood, skilled nursing facility care, and hospice care. It also covers outpatient medical services such as doctor visits, lab work, diabetes supplies, cancer treatment, durable medical equipment, x-rays, ambulance, surgeries and much more. This means Plan G covers the coverage gaps with Original Medicare and all Plan G products must provide you with the exact same coverage.

Medicare pays first, then Plan G pays the remaining amount after you pay the once annual deductible. In addition, Plan G Medicare Supplements offer up to $50,000 in foreign travel emergency benefits (up to plan limits).

Related Article: Medicare Costs for 2023

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

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MORGAN STANLEY: S&P 500 May Drop Another 22% in 2023?

By Staff Reporters

Many investors were happy to wave goodbye to 2022, Wall Street’s worst year since 2008. The S&P finished down 19.4%, while the tech centered NASDAQ shed 33.1%. The blue-chip focused Dow Jones did better, losing just 8.8% across the year. Unfortunately, a number of senior investment bankers predict 2023 could bring more stock market woes. Most recently, in fact, Morgan Stanley Chief U.S. Equity Strategist & Chief Investment Officer, Michael Wilson, said he thought the S&P 500 could drop by another 22% in 2023.

Wilson wrote in a note this week that next year’s losses could be more significant than many are expecting. According to Bloomberg, Wilson thinks a peak in inflation would be “very negative for profitability.” He added, “The consensus could be right directionally, but wrong in terms of magnitude.”

Some analysts think that when inflation peaks, the Federal Reserve will ease up on its aggressive rate hikes and the stock market will recover. But Wilson argues this is only part of the picture. He thinks falling prices would have a knock-on effect on company profits, and the subsequent drop in margins would outweigh any benefit from a change in the Fed’s stance.

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

Wilson also alerted clients to the risk that companies would be caught “off guard” by a combination of falling demand and a catch up in supply. Supply chain issues, caused by a mix of COVID-19 lock downs, labor shortages, and other factors, have contributed to price increases and had a negative impact on production. If the supply chain starts to recover at the same time as recession-induced drops in consumption levels, he thinks the stock market could fall further.

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DAILY UPDATE: Elon Musk Wins but SPACS Do Not

By Staff Reporters

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A judge just ruled that a group of laid-off Twitter employees suing the business over their severance compensation, have to pursue their claims individually rather than as part of a class action, according to a Bloomberg report. About 500 of the roughly 3,700 Twitter employees Elon Musk laid off since taking control of the company last year have already filed individual arbitration claims, according to Shannon Liss-Riordan, the lawyer who filed those claims on the workers’ behalf.

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SPAC SEEKING SPAC: Money-losing companies that recently went public via SPAC are combining with other SPACs to secure more funding and stay afloat. The ultimate goal is one giant SPAC?

DEFINITION: https://medicalexecutivepost.com/2022/06/13/spac-v-direct-listing-v-ipo/

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

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SUMMER SPEAKS of “False Dawns”

By Staff Reporters

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Former Treasury Secretary Larry Summers is worried that investors and economists are becoming overly optimistic after year-over-year inflation cooled to 6.5% in December.

“One has to be careful of false dawns. If you think about it, the good news was inflation running in the 6’s, and that’s still inconceivably high by the standards of two or three years ago,” he told Bloomberg on Friday, adding that his forecast is still that a “recession this year is more likely than not.” 

Since March, Federal Reserve officials have raised interest rates seven times in hopes of taming inflation without sparking a recession, and all the while, economists and Wall Street analysts have debated whether they’ll be successful. Summers has repeatedly found himself in the bears’ camp. In October, he told the Financial Times that it would take “a recession” and “unemployment towards the 6% range” to ensure U.S. inflation is truly gone. 

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

But the economist admitted on Friday that the latest inflation report was “good news”—and it came even though the unemployment rate was just 3.5% in December. He argued that this is evidence that wages aren’t rising too dramatically, which means the Fed may be able to change tactics soon. 

So, what do you think?

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AFFORDABILITY: Healthcare on Notice for Patients

By Staff Reporters

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People living in the US are finding it increasingly difficult to afford needed health services—even with employer-sponsored health insurance, a new analysis suggests.

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

Researchers at the NYU School of Global Public Health (GPH) examined data from the National Health Interview Survey—an annual CDC survey—that was collected from 2000 to 2020 for 230,000+ adults who received health insurance through an employer or union. Both men and women found most healthcare services to be less affordable now compared to the early 2000s, according to the finding of the NYU analysis reported in a December 2022 JAMA abstract. Women, in particular, found all types of health services to be less affordable than men.

From a nationally representative survey which is conducted annually, researchers included data from 5,545 women and 5,353 men sampled in 2020, and found that about 6% of women reported they couldn’t afford needed medical care. This compares to just 3% of slightly larger sample groups from 2000, per the analysis. By contrast, about 3% of men gave that response in 2020, compared to 2% in 2000.

Avni Gupta, a doctoral student in the public health policy and management department at NYU GPH and the lead author of the analysis, offered that “lower incomes and higher healthcare needs among women could be driving these differences in reported affordability.”

And, José Pagán, the department chair and co-author of the JAMA analysis, said people with employer-sponsored coverage—the largest source of health insurance for people living in the US—“generally think they are protected.”

“[B]ut our findings show that health-related benefits have been eroding over time,” he said; according to Healthcare Brew

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Happy Friday 13th

Triskaidekaphobia

Triskaidekaphobia (/ˌtrɪskaɪˌdɛkəˈfoʊbiə/ TRIS-kye-DEK-ə-FOH-bee-ə, TRIS-kə-; from Ancient Greek τρεισκαίδεκα (treiskaídeka) ‘thirteen’, and Ancient Greek φόβος (phóbos) ‘fear’) is fear or avoidance of the number 13.

It is also a reason for the fear of Friday the 13th, called paraskevidekatriaphobia (from Greek Παρασκευή (Paraskevi) ‘Friday’, Greek δεκατρείς (dekatreís) ‘thirteen’, and Ancient Greek φόβος (phóbos) ‘fear’) or friggatriskaidekaphobia (from Old Norse Frigg ‘Frigg’, Ancient Greek τρεισκαίδεκα (treiskaídeka) ‘thirteen’, and Ancient Greek φόβος (phóbos) ‘fear’).

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

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PODCASTS: Digital Health + Health I.T.

By Becker’s Hospital Review

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LISTEN: https://www.beckerspodcasts.com/health-it-digital-health-podcast

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ORDER: 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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VIDEO TELECONFERENCE: How to Prepare?

By Coach: Dr. David Edward Marcinko MBA

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PHYSICIANS AND ADVISORS

TIPS TO PREPARE FOR A VIDEO INTERVIEW

Practice with someone to become comfortable with the process.

Background/Staging:


• Pay attention to the background, what will be seen around and behind you. Get rid of
clutter – it affects “your presentation.” Make sure there is nothing in the background you
don’t want anyone to see including personal pictures, etc.


• Conduct the test in the same location you plan to conduct the video interview.
• Adjust lighting to highlight your face. Do not let light wash out your facial features.


• Have back-up equipment nearby (extra laptop, phones, cables).
Clothing


• Dress in professional, conservative, non-fussy clothing as though you were going to be
with the committee in person. Wear a jacket.


• Wear a solid/bold color. Stay away from dark colors.


• Stay away from prints (e.g. herringbone) which, depending upon the design, lighting and
camera pixels, can make your outfit “vibrate” on screen.


• Dress knowing that the committee will see you “closer up” than you will see them.
Eye Contact/Body Language/Clear Communications


• Be sure to look at the camera not at the image of the committee on the screen;
otherwise you do not appear to be “looking them in the eye” or will appear nervous.


• It is hard to read committee body language without typical in-person conversation cues,
so watch the time and limit each answer to 3-4 minutes. Be attuned to a timer.


• Be attentive to your body language — leaning back in your chair is a no-no; lean forward
to convey interest in the position and the committee. Don’t rock back and forth.


• Place support things out of camera range (glass of water, a timer, notes, notepad, pen,
list of committee members) so your eyes go to the side and not up/down to these items.


• Don’t be afraid to ask to have questions repeated, either because the question was long
and complex or because of audio problems. Jot notes on complex questions.

COACH: https://medicalexecutivepost.com/2023/01/08/personal-coaching-dr-marcinko-at-your-service/


Sound Amplification and Noise Control:


• Microphones magnify noises and can be distracting to the committee. Avoid ruffling
papers and jangling jewelry. In the same vein, speak up clearly and enunciate your
words.


• Place a “do not disturb/do not enter” sign on the door of your space. Turn off running
programs (like your email) to eliminate beeps when new emails arrive.

• Silence all other technology EXCEPT if there should be technical issues, turn your
phone back on to receive a call from your Greenwood/Asher consultant for
troubleshooting.


• Ask family and colleagues to be quiet during the interview. If a family member or
colleague is your resident IT expert, have that person close-at-hand but out-of-sight
during the call.


• Be prepared to switch to a landline or cell speaker phone for the audio portion since
audio with Skype/Zoom is not always great. If you do use this option, mute your
computer microphone to eliminate conflicting noise.

SECOND OPINIONS: https://medicalexecutivepost.com/2023/01/10/physician-coaching-second-opinions

PODCAST: https://www.youtube.com/watch?v=n7bYGhEVjd8

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