DAILY UPDATE: Workplace Productivity Down

By Staff Reporters

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The US is experiencing the biggest decline in worker productivity since 1948, according to research from EY-Parthenon, and many executives have been quick to single out remote work as the main culprit.

This is what they cite to prove their point.:

  • A study published in Nature Human Behaviour found that working remotely made Microsoft’s remote workers miss important learning opportunities by not rubbing elbows with coworkers who aren’t part of their immediate team.
  • More recent research showed that interacting through a screen can make workers less likely to generate ideas. That’s a problem for tech companies needing to out-innovate the competition.

For many industry leaders, accessing a wider talent pool outside of traditional tech hubs isn’t enough to make up for those drawbacks. And as widespread labor shortages subside and layoffs sweep through Silicon Valley, companies are no longer in a perk war to recruit and retain the brightest minds.

Finally, the Big Tech office pushed mirrors broader thru white-collar labor market dynamics; according to Morning Brew. In December, 13% of LinkedIn postings were for remote jobs, compared to 20% nine months prior.

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Mental Health Entrepreneurial Start-Up Companies

Top Ten [10] Venture Capital Backed

By Dr. David Edward Marcinko MBA

By Carol Miller RN MBA

By http://www.MCOL.com

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Mental Health White Paper:

FILE: https://medicalexecutivepost.com/wp-content/uploads/2019/05/mental-health-dr.-marcinko.pdf

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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™

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

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PODCAST: Healthcare Entrepreneur Playbook

By Eric Bricker MD

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Happy Birthday Florence Nightingale [203rd]

By Staff Reporters

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Happy 203rd birthday to Florence Nightingale, the founder of modern nursing. She rose to fame during the Crimean War, when her hygiene standards substantially reduced the mortality rate at army hospitals. The healthcare industry still relies on some of her ideas, such as using data as a tool to improve hospital care. The “lady with the lamp” is still lighting the path forward.

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Other Health Care Stories

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The CPI Report and Inflation

By Staff Reporters

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Stocks were a mixed bag yesterday after the consumer price index showed prices rose 4.9% last month, marking the 10th month in a row of cooling inflation and the first time inflation has dipped below 5% in two years. That’s still higher than the Fed’s 2% target, but it leaves space for Jerome Powell to chill out a bit. Tech stocks got a boost from that news, especially Google’s parent, Alphabet, which also benefited from rolling out its new AI.

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

What drove the markets?

Economists polled by the Wall Street Journal had forecast the CPI increasing 0.4% and advancing 5.0% over the past year. The core inflation rate rose 0.4% in April for the second straight month, in line with economists forecasts. For the year, the core inflation rate, excluding food and energy prices, increased 5.5% down from a 5.6% rise in March.

“The below 5% headline CPI number is a sigh of relief to a market on edge,” said Alexandra Wilson-Elizondo, co-head of portfolio management for multi asset solutions at Goldman Sachs Asset Management.

Traders hoped that the lower-than-expected inflation data may leave room for the U.S. central bank to refrain from raising interest rates further at its June meeting.

“The data today will be interpreted as not hot enough to force the Fed’s hand in June … We do not think this one data point will determine the outcome of the June FOMC meeting because we still have a string of economic data to process between now and then,” wrote Wilson-Elizondo.

“The details of the print suggest that we are still a meaningful distance from the Fed’s 2% target, giving little reason for the Fed to cut this year.”

Investors priced in the Federal Reserve beginning to trim borrowing costs in coming months, a hope that is seen underpinning stocks of late and helping the S&P 500 index move towards the top of the 3,800 to 4,200 range its has held all year.

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PUBLIC HEALTH EMERGENCY: Ends May 11th, 2023

By Health Capital Consultants, LLC

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On January 30th, 2023, President Joseph Biden announced that the public health emergency (PHE) and national emergency declaration related to the COVID-19 pandemic will finally end on May 11, 2023, after being in place for over three years.

And so, this Health Capital Topics article will discuss the changes that will take place after both declarations cease, and the implications for stakeholders.  (Read more…)

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PODCAST: Hospital CEO Compensation

By Eric Bricker MD

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UnitedHealth Group’s Physician Acquisition Efforts Accelerate

By Health Capital Consultants, Inc

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On February 22, 2023, UnitedHealth Group’s (UHG’s) Optum division, the health insurance giant’s care delivery arm, acquired Crystal Run Healthcare, a New York based physician group of almost 400 physicians, nurse practitioners, and other providers

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

This significant move is just the latest in UHG’s concerted effort over the past few years to acquire outpatient providers, surgery centers, and physician groups. This Health Capital Topics article will briefly survey some of the insurer’s recent acquisitions and initiatives to expand their physician services network. (Read more…)

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Stocks, Musk, Goldman Sachs and Intel

By Staff Reporters

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  • Stocks mostly held steady yesterday as everyone waits for April’s inflation data to drop tomorrow. Regional banks saw some movement as PacWest cut its dividend, then teetered up and down throughout the day. But Six Flags theme park operator shot straight up after reporting record revenue for the last quarter thanks to higher ticket prices.
  • Elon Musk warned that Twitter follower counts may drop as the platform removes inactive accounts.
  • Goldman Sachs has agreed to pay $215 million to settle a long-running class-action lawsuit accusing the investment bank of underpaying women. Elon Musk warned that Twitter follower counts may drop as the platform removes inactive accounts.
  • Intel continues to rattle the tech industry by confirming that it plans to cut its workforce to reduce costs. The company declined to share how many workers would be affected but said the layoffs would take place across the company.

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Musings on a Famous Portfolio Asset Allocation Study

Some Critics Claim Brinson, Hood, and Beebower Conclusions Wrong

[By Dr. David Edward Marcinko MBA CMP™]

http://www.CertifiedMedicalPlanner.org

[Publisher-in-Chief]

Frequently, we hear the axiom that asset allocation is the most important investment decision, explaining 93.6% of portfolio returns. The presumption has been that once the risk tolerance and time horizon have been established, investing is simply a matter of implementing a fixed mix of stocks, bonds, and cash using mutual funds selected for this purpose. This axiom is based on a famous study by Brinson, Hood, and Beebower (BHB) published in the Financial Analysts Journal in July/August 1986. It is the stuff of most modern business school and graduate students in economics and finance.

Enter the Critics

One critic claims that BHB’s conclusions and the interpretation of their conclusions are wrong, stating that because of several methodological problems, BHB needed to make certain assumptions for their analysis to go forward. They assumed that the average asset-class weights for the 10-year period studied are the same as the actual normal policy weights; that investments in foreign stocks, real estate, private placements, and venture capital can be proxied by a mix of stocks, bonds, and cash; and that the benchmarks for stocks, bonds, and cash against which fund performance was measured are appropriate. The author believes that each of these assumptions can lead to a faulty measurement of success or failure at market timing and stock selection.

The Jahnke Study

William Jahnke claims that BHB erred in their focus on explaining the variation of quarterly portfolio returns rather than portfolio returns over the 10-year period studied. According to the study, asset allocation policy explains only a small fraction of the range of 10-year portfolio returns earned by the pension funds reported in the study. The author concluded that this discrepancy is caused by the effect of compounding returns. He adds that BHB were wrong to use variance of quarterly returns rather than the standard deviation. Use of standard deviation would reduce the often cited 93.6% to about 79%. Moreover, BHB did not consider the cost of investing, such as operating expenses, management fees, brokerage commissions, and other trading costs, which are more significant for individual investors than for the pension plans studied. Jahnke claims that excessive costs can reduce wealth accumulation by 50%.

Note: (“The Asset Allocation Hoax,” William W. Jahnke, Journal of Financial Planning, February 1997, Institute of Certified Financial Planners [303] 759-4900).

Assessment

Finally, the author takes issue with establishing long-term fixed asset class weights. Asset allocation should be a dynamic process. Higher equity return expectations should in turn produce larger equity allocations, other things being equal.

Certified Medical Planner

Conclusion

Are doctors different than the average investor noted in this essay?

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

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product Details

  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™

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PHYSICIANS: Fiduciary Coaching, Mentoring & Second Opinions

By Ann Miller RN MHA

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Career and Financial Planning

Career, Business and Personal Financial Planning is a great opportunity to get your practice, finances and budgets in order before life gets too busy.

CALL US TODAY TO GET STARTED: https://medicalexecutivepost.com/coach/

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“From Chaos to Calm”

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PODCAST: Financially Hospitals Must Survive

HOW TO SURVIVE?

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PODCAST: Health Insurance Prior Medical Authorization Rates Are Down

BUT MEANINGFUL?

By Eric Bricker MD

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

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DEA Temporarily Extends Tele-Health Prescribing Flexibility

By Staff Reporters

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Tele-Health medical providers are cheering the Drug Enforcement Agency (DEA) move to temporarily extend virtual prescribing flexibility.

The DEA is looking to buy some time to consider whether it should require patients to see doctors face-to-face to get prescriptions for controlled drugs or continue to allow Tele-Health prescriptions. The agency received a record 38,000 public comments on its proposed rule.

Source: Heather Landi, Fierce Healthcare [5/3/23]

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Whatever Happened to the Invisible Hand of Capitalism?

The Invisible Hand of Capitalism?

vitaly

By Vitaliy Katsenelson CFA

Just as the well-meaning economist of the Soviet Union didn’t know the correct price of sugar, nor do the good-intentioned economists of our global central banks know where interest rates should be.

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Assessment

Even more important, they can’t predict the consequences of their actions.

Here’s why?

http://contrarianedge.com/2016/03/16/whatever-happened-to-the-invisible-hand-of-capitalism/

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

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WOODSTOCK for Capitalists

ANNUAL MEETING TODAY

By Staff Reporters

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“Woodstock for Capitalists” is happening today

Warren Buffett will preside over Berkshire Hathaway’s 59th annual shareholders meeting today—an event expected to draw a large crowd to Omaha, Nebraska. Everyone will be watching to see what Buffett has to say about the economy, the state of the banking sector, his big bet on Apple, and his struggling “favorite child,”

Geico. Shareholders will also vote on six proposals on climate change, political advocacy, and the firm’s leadership, all of which Buffett opposes.

Agenda: https://www.good-investing.net/event/berkshire-hathaway-annual-shareholders-meeting-2023/#:~:text=The%20Berkshire%20Hathaway%20Annual%20Shareholders%20Meeting%202023%20takes,Shareholder%20Meeting%202023%2C%20including%20the%20Exhibition%20Hall%2C%20open.

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e-BOOKS: For Doctors, Financial Advisors, CPAs, Insurance Agents, Medical Consultants and Health Law Attorneys

By Ann Miller RN MHA CMP

INTRODUCING OUR NEXT GENERATION e-BOOK LIBRARY FROM iMBA, Inc.

An e-book is an electronic or digital book that can be read on a computer or a handheld device.

Our new e-books consists of text, images, and are fixed to a specific spot on the page.

And, our e-books are a data files similar in content and structure to a word-processing document that comes in a PDF format. To use our e-books, you need to purchase and download it to a device that has a .pdf file reader app, such as ADOBE® or similar on a smartphone, tablet or computer. A PDF, also known as a portable document format, is the format most people are familiar with and used in our e-books. PDFs are known for their ease of use and ability to hold custom layouts. They are the most commonly used e-Book formats, especially by professionals and adult-learners.

You can then access the e-book and read it, or highlight pages and even take side notes.

e-Books Save Money

With no manufacturing, printing, binding or shipping costs, e-Books are cheaper than traditional hard or paper back books.The price of each specialized and highly niche focused e-Book [50-100 pages] is only $25, whereas similar paperback printed books of this type generally cost $145, or more!

Payable thru PayPal [3% courtesy surcharge applies].

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Social Determinants of Health from Inside the Hospital System

SDOH

By Staff Reporters

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READ: Social determinants of health aren’t just for patients. Health systems looking to promote health equity within their communities can start internally, by looking at their own workforce; according to HealthcareBrew.

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FORM ADV is a Must Read for Selecting a Financial “Advisor”

Form ADV – The Essential Document

Dr. David Edward Marcinko MBA - WEGO Health Awards Nominee

By Dr. David Edward Marcinko MBA CMP©

SPONSOR: http://www.CertifiedMedicalPlanner.org

CMP logo

Under law, financial advisors and planners must provide you with a form ADV Part II or a brochure that covers the same information.  Even if a brochure is provided, ask for the ADV.  While it is acceptable, even desirable, for the brochure to be easier to read than the ADV, the ADV is what is filed with the appropriate state or SEC.  If the brochure reads more like a slick sales brochure or the information in the brochure glosses over the items on the ADV to a high degree, one should consider eliminating the advisor from consideration.

FIDUCIARY: https://medicalexecutivepost.com/2023/03/11/recast-an-interview-with-fiduciary-bennett-aikin-aif-2/

Registering with a state or SEC gives an advisor a fiduciary duty to the client.  This is a high standard under the law. 

There are several types of advisors who are exempt from registering and filing an ADV. 

First, there are registered representatives (brokers).  Brokers have a fiduciary responsibility to their firms regardless of whether they are statutory employees or independent contractors. Not the client.

Second are attorneys and accountants whose advice is “incidental” to their legal or accounting practices. But, why would one hire someone whose advice is “incidental” to his primary profession?  A top-notch advisor is a full-time professional and should be registered.  One should insist that their advisor be registered.

CFP: https://medicalexecutivepost.com/2016/11/18/why-we-cannot-assume-cfp-equals-fiduciary/

The ADV will describe the advisor’s background and employment history, including any prior disciplinary issues.  It will describe the ownership of the firm and outline how the firm and advisor are compensated.  Any referral arrangements will be described.  If an advisor has an interest in any of the investments to be recommended, it must be listed as well as the fee schedule.  There is also a description of the types of investments recommended and the types of research information that is used.

ASSESSMENT: A review of the ADV should result in an alignment of what the advisor said during the interview and what is filed with the regulators.  If there is a clear discrepancy, choose another advisor.  If it is unclear, discuss the issue with the advisor.

Your thoughts and comments are appreciated.

Form ADV | Moneygrow.com | Registered Investment Advisor ...

SEC Headquarters
100 F Street, NE
Washington, DC 20549
(202) 942-8088

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BUSINESS PLAN CONSTRUCTION: For Health Industry Modernity

FOR MEDICAL AND HEALTHCARE ENTREPRENEURS AND INNOVATORS

By Dr. David Edward Marcinko MBA MEd CMP®

I was asked by business schools and medical colleagues – and their bankers, CPAs and advisors – to speak about this topic several times last year before the pandemic.

Now, with the specter of M-4-A etc; it certainly is a vital concern to all young entrepreneurs, doctors & medical professionals whether live, audio recorded or in podcast form. And so, here is a written transcript of a recent presentation for your review.

Now, with the specter of tele-health, tele-medicine, M-4-A etc; it certainly is a vital concern to all young doctors & medical professionals whether live, audio recorded or in podcast form. And so, here is a written transcript of a recent presentation for your review.

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New Product Business Plan Sample [2021 Updated] | OGScapital

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READ: https://medicalexecutivepost.com/wp-content/uploads/2017/08/mba-business-plan-capstone-outline.pdf

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USA nears DEFAULT while Europe INFLATES!

By Staff Reporters

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Treasury Secretary Janet Yellen warned yesterday that the US could run out of money to pay all its bills as early as June 1st if Congress does not raise or suspend the debt limit before then. The US’ first-ever default would be disastrous for financial markets, economists say.

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Meanwhile, Europe’s painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Consumer prices in the 20 countries using the euro currency jumped 7% in April from a year earlier, just up from the annual rate of 6.9% in March, the European Union statistics agency Eurostat said today. Food price inflation eased a little, falling to an annual rate of 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%. Core inflation, which excludes volatile food and fuel, slowed slightly but was still high at 5.6%, underlining the expectation that the ECB will press ahead with its campaign to beat inflation into submission with rate hikes.

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Supreme Court Justices Hear False Claims Act Case

By Health Capital Consultants, LLC

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On April 18th, 2023, the U.S. Supreme Court heard oral arguments in two False Claims Act (FCA) cases, which cases center on the necessary state of mind needed to violate the FCA.

This Health Capital Topics article will review the oral arguments in the combined cases and how the justices seem posed to rule based on their questions and comments during the session. (Read more…)

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JUST IN: CA Doctor Settles FCA Allegations for $23.9 Million

A plastic surgeon in Beverly Hills, along with his son, and medical practices and billing company, have agreed to pay $23.9 million to resolve allegations that they violated the False Claims Act by submitting or causing the submission of false claims to both Medicare and Medicaid.

The civil settlement includes the resolution of claims brought under the qui tam, or whistleblower, provisions of the False Claims Act by parties who worked for the plastic surgeon (Dr. Aronowitz) and his associated medical practices and businesses. Whistleblowers include TDP, a billing company; Dr. Jason Morris, a podiatrist; and Harold Bautista, a billing department employee. Under the qui tam provisions, a private party can file an action on behalf of the government and receive a portion of any recovery.

Source: Sierra Sun Times [4/29/23]

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BANKS: New Federal Reserve Rules?

Detailing Oversight Lapses

By Staff Reporters

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The Fed says it’s time for new bank rules

Just in time for a new looming bank failure, the Federal Reserve issued a 102-page report dissecting the corpse of Silicon Valley Bank. Meanwhile, FRB [First Republic Bank] FRB was just sold to JPMorgan Chase.

LINK: https://medicalexecutivepost.com/2023/05/01/daily-update-frb-bidding-sold-to-jpmorgan-chase/

The Fed pointed the finger at both its own inadequate supervision and the bank’s management.

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

And in an accompanying letter, Michael Barr, the Fed’s vice chair for supervision, called for stricter rules to be applied to more financial institutions and for more tools to be given to regulators to bring firms with poor capital planning and risk management into line.

MORE: https://www.wsj.com/articles/jpmorgan-pnc-bid-to-buy-first-republic-as-part-of-fdic-takeover-aeb936a0?mod=RSSMSN

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DAILY UPDATE: FRB Bidding – SOLD to JPMorgan Chase

By Staff Reporters

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Big banks including JPMorgan Chase & Co. and PNC Financial Services Group Inc. submitted bids for First Republic Bank to the Federal Deposit Insurance Corp., which is preparing to seize and sell the troubled lender, according to people familiar with the matter. The winning bidder could be announced soon.

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

UPDATE = SOLD: https://www.msn.com/en-us/money/markets/regulators-seize-first-republic-bank-sell-to-jpmorgan-chase/ar-AA1azvOk?ocid=U521DHP&pc=U521&cvid=f3aa484061a746568a5640989a232d4a&ei=13

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

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REQUEST A FIDUCIARY: Business, Financial or Management Second Opinion

By Ann Miller RN MHA

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Telephonic or electronic advice for medical professionals that is:

  • Objective, affordable, medically focused and personalized
  • Rendered by a pre-screened financial consultant or medical management advisor
  • Offered on a pay-as-you-go basis, by phone or secure e-mail transmission
  • Coaching and Mentoring
  • TOPICS: https://davidedwardmarcinko.com/coach/

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PODCAST: Confessions of a Hospital CFO

CHIEF FINANCIAL OFFICER

By Eric Bricker MD

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

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