PODCAST: INELASTIC Healthcare Demand Explained

BY ERIC BRICKER MD

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

MORE: https://medicalexecutivepost.com/2019/11/10/ricardian-derived-demand-economics-in-medicine/

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Pass ALL PODIATRY BOARD Certification Examinations!

Electronic Study Guides and A.I.

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ALL NEW AND IMPROVED STUDY GUIDE SOFTWARE !

http://www.PodiatryPrep.org

[Versions 2.0]

As we complete our first quarter-century of service to the podiatric community, it is only fitting to update our colleagues of the extreme changes taking place in the individual board exam testing space.

Some of these changes are perfunctory with little practical impact; while others are so profound as to cause extreme consternation in the practitioner community writ-large.

For example:

Nomenclature:

  1. FROM: American Board of Podiatric Surgery -TO- American Board of Foot and Ankle Surgery.
  2. FROM: American Board of Primary Podiatric Medicine and Orthopedics -TO- American Board of Foot and Ankle Medicine and Orthopedics.
  3. FROM: ORAL questions -TO- “oral” computerized Clinical Pathology Conference-like queries
  4. FROM: American Board of Podiatric Medical Specialities -TO- American Board of Medical Specialities, in Podiatry.
  5. FROM: Non-Competitive MOC Exams -TO-Competitive MOC Re-Cert Tests.
  6. FROM: Solely DPM crafted exams to professional psychometric designs by PhDs, computer scientists, and E.Eds.

ABPS Statistics: ABPS Statistics

SURGERY FOR FOOT & ANKLE — Advance Foot & Ankle Care

Testing Dynamics:

  1. The Surgery Certification and Qualification tests now rely less on rote memorization and more on applied cognitive content, and may be very different from any other test you have ever taken, to date [ie., multiple choice or fill-in-the-blank].
  2. The Primary Medicine and Orthopedics Certification and Qualification tests now rely less on rote memorization and more on applied cognitive content, and may be very different from any test you have ever taken, to date [ie., multiple choice or fill-in-the-blank].
  3. Traditional human ORAL questions have been usurped by [non-human] computerized Clinical Pathology Conference [CPC] queries; AKA: Computer Based Testing [CBT] or Clinical Scenario Questions [CSQs].
  4. American Board of Medical Specialities now includes over a dozen general categories; including podiatry.
  5. The Re-Certification tests for Maintenance of Certification [MOC] now rely much less on rote memory, as in the past; and more on deeply experiential content. It is also becoming more competitive, to-date.
  6. So-called “wrong” questions by-design are called psychological “stressor questions” and are used to evoke emotional volatility and waste precious time. So, BEWARE!. Moreover; the so-called “points-to-pass” AND “points-to-fail” philosophy may be re-emerging.

More Here: FARC Promo.Psychometrics

This is the dynamic PODIATRY PREP difference [Unique Competitive Advantage] between our customized Study Guide File Programs with customized board exam preparation content, and the static general “off-shelf” books or Web guides of the past; and/or traditional CEU educational seminars.

SAMPLE QUESTIONS: Traditional Rote ISTITUTIONAL RESIDENCY Questions versus Experiential and Cognitive Styled INDIVIDUAL PRACTITIONER [CBT/CBS] Formats

PRACTITIONERS: Be sure to specify the target exam and customize your own personal study guide, today.

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AKIN: 3[1][1].AKIN.OSTEOTOMY

CHEVRON: 5[1][1].CHEVRON.MODIFICATIONS

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ORDER NOW: https://podiatryprep.org/order-form/

PHONE: 770-448-0769

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PODCAST: Healthcare Customer Service is Terrible!

WHY?

BY ERIC BRICKER MD

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ORDER TEXT: https://www.amazon.com/dp/B0091ICH30?ref_=k4w_oembed_oQPgAstGiXiIgL&tag=kpembed-20&linkCode=kpd

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What is the “SAVER’S CREDIT”?

By Dr. David E. Marcinko MBA CMP®

CMP logo

Sponsor: http://www.CertifiedMedicalPlanner.org

The saver’s credit is a tax credit that’s intended to promote retirement savings among low- and moderate-income workers. It can reduce an eligible taxpayer’s federal income taxes when they save in a qualified retirement plan. It may be especially useful to medical students, nurses, interns, residents and fellows.

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IRS Releases Plan Limits for 2020 - Montgomery Retirement Plan Advisors

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In 2021, the maximum credit is worth $1,000 for individuals and $2,000 for married couples filing jointly, although it phases out for higher earners. To qualify for the credit, individuals must have an adjusted gross income of $32,500 or less. The income threshold for married couples is $65,000.

Because the credit is non-refundable, eligible taxpayers are able to use it to effectively reduce their tax bill to zero – but it cannot provide them with a tax refund.

IRS: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit

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

YOUR THOUGHTS AND COMMENTS ARE APPRECIATED.

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PODCAST: On State Health Insurance Commissioners

Not so Hot!

BY ERIC BRICKER MD

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RELATED: https://ocgnews.com/former-georgia-insurance-commissioner-jim-beck-convicted-of-fraud/

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

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What’s the Latest on MEDICARE DRUG PRICE Negotiations?

BY KFF

Prescription drug costs are a major concern for consumers and a fiscal challenge for public and private payers, representing 10% of national health spending and nearly 20% of health benefit costs for large employers and Medicare.

In response, lawmakers are considering a broad range of policy options, including one that would allow the federal government to negotiate prescription drug prices on behalf of Medicare beneficiaries and people enrolled in private plans, a proposal that has strong bipartisan public support.

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

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Could Negotiating Medicare Drug Prices Save $300 Billion Per Year? |  Committee for a Responsible Federal Budget

This brief describes the current status of drug price negotiation proposals, looks back at the history of proposals to give the federal government the authority to negotiate drug prices in Medicare, describes the negotiation provisions in key legislation (H.R. 3), and discusses the potential spending effects for the federal government and individuals.

READ: https://www.kff.org/medicare/issue-brief/whats-the-latest-on-medicare-drug-price-negotiations/

UPDATE: https://www.msn.com/en-us/news/politics/medicare-trustees-sound-alarm-but-progressives-press-ahead-with-irresponsible-medicare-expansion/ar-AAOh6EA?li=BBnb7Kz

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A Novel HYBRID Physician Reimbursement Model 2.0?

MODERN CONSIDERATIONS

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By Dr. David E. Marcinko MBA CMP®

CMP logo

SPONSOR: http://www.CertifiedMedicalPlanner.org

EMERGING HYBRID PAYMENT MODELS

Current reimbursement structures involve the submission and payment of medical CPT® coded claims. But, some doctors feel they need to “up-code” to maximize revenue or “down-code” for fear of having a claim denied. Contradictory business goals bastardize the system into a payer versus provider tug-of-war, with patient care as a potential bargaining chip. Instituting quality metrics should be included in this equation and, a hybrid reimbursement model may be a viable option while integrating quality care metrics and reducing costs for all stakeholders.

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

This hybrid reimbursement system might use a two-payment structure.

For the first payment, claims would be paid at hypothetical rate of 60% within one week of submission.

The second payment, consisting of the remaining zero to 40% of some total maximum allowable fee, be paid quarterly. It would be based on scores like patient satisfaction and stewardship of healthcare resources by analyzing a statistically valid sample of patient encounters taken from the electronic health record.

Such a hybrid system would remove unnecessary steps, like re-submitting claims, and would lower the operational and administrative costs of claims processing. These changes would decrease operational cost and drive quality stewardship of the healthcare dollar.

YOUR COMMENTS ARE APPRECIATED.

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INVITATIONS: https://wordpress.com/post/medicalexecutivepost.com/246863

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The Board CERTIFIED MEDICAL PLANNER® Professional Chartered Designation Program

VISIT: http://www.CERTIFIEDMEDICALPLANNER.org

CURRICULUM: Enter the CMPs

Physicians Beware … the Medical Management Consultants?

CMP logo

Are you a doctor desperate for practice enhancement solutions, but don’t know where to turn for help? Or, maybe you’ve already had a bad experience with a non-fiduciary business consultant, or management guru, more interested in his bottom line than your success?

Read this decade old Federal Government report to learn what can happen when your advisor is not an informed Certified Medical Planner© designated medical management practitioner.

GOV: https://oig.hhs.gov/fraud/docs/alertsandbulletins/consultants.pdf

True yesterday … more true today.

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Three [3] Must Know Technical ROTH IRA RULES

ALERT FOR PHYSICIANS AND ALL INVESTORS

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1. You can trade actively in a Roth IRA

Some physician investors may be concerned that they can’t actively trade in a Roth IRA. But there’s no rule from the IRS that says you can’t do so. So you won’t get in legal trouble if you do.

But there may be some extra fees if you trade certain kinds of investments. For example, while brokers won’t charge you if you trade in and out of stocks and most ETFs on a short-term basis, many mutual fund companies will charge you an early redemption fee if you sell the fund. This fee is usually assessed only if you’ve owned the fund for fewer than 30 days.

2. Any gains are tax-free – forever

The ability to avoid taxes on your investments is an incredible benefit. You’ll be able to escape – perfectly legally – taxes on dividends and capital gains. Not surprisingly, this superpower makes the Roth IRA very popular, but to enjoy its benefits, you must abide by a few rules.

The Roth IRA limits you to a $6,000 maximum annual contribution (for 2021), and you won’t be able to withdraw earnings from the account until retirement age (59 1/2) or later and after owning the account for at least five years. However, you can withdraw your contributions to the account without being taxed at any time, but you won’t be able to replace those contributions later.

The Roth IRA offers a number of other benefits and retirement savers should look into it.

3. You can’t use margin in an IRA

Many traders use margin in their accounts. With a margin loan, the broker extends you capital to invest beyond what you actually own. It’s a useful tool, especially if you’re trading frequently. Unfortunately, margin loans are not available in IRA accounts.

For frequent traders the ability to trade on margin is not just about magnifying your returns. It’s also about having the ability to sell a position and immediately buy another. In a cash account (like a Roth IRA), you have to wait for a transaction to settle, and that takes a couple days. In the meantime you’re unable to trade with that money even though it’s credited to your account.

PLUS A FOURTH RULE

4. You don’t get to deduct losses

If you’re trading in a taxable brokerage account, you’ll get a tax write-off if you make a losing investment. Some investors even make sure they’re getting the largest write-off they can using a process called tax-loss harvesting. They scoop up that benefit and then even repurchase the stock or fund later (after 30 days) if they think it’s poised to rise in the future.

But if you’re trading in a Roth IRA, you won’t get the ability to write off losses. Changes to the tax code in 2017 eliminated the ability to claim any benefit from losses in an IRA account.

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

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What is a Roth IRA? | Meridian Financial Partners

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The “Mutual” VERSUS “Stock”Company?

QUICK DEFINITIONINVESTING BASICS

MUTUAL COMPANY:  A company that has no capital stock or stockholders.  Rather, it is owned by its policy-owners and managed by a board of directors chosen by the policy-owners. 

Any earnings, in addition to those necessary for the operation of the company and contingency reserves, are returned to the policy-owners in the form of policy dividends.

See the source image

STOCK COMPANY: A joint-stock company is a business entity in which shares of the company’s stock can be bought and sold by shareholders.

Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are able to transfer their shares to others without any effects to the continued existence of the company.

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

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

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

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Cyber Insurance for Dentists?

Join Our Mailing List

Are we de-facto targets?

By D. Kellus Pruitt DDS
pruitt

Have you purchased cyber insurance yet, Doc?

If you are a HIPAA covered entity, you’re going to need it.

Press release: “AIG among insurers seeking more sales as small firms get hacked” (no byline).

“Smaller companies [including dental offices] are learning that, as more data is shared online, they, too, can be targets for the kinds of attacks that larger firms endure. American International Group Inc. and Travelers Cos. are among insurers tailoring cybersecurity products to those customers.”

http://www.delawareonline.com/article/20130322/BUSINESS09/303220034/AIG-among-insurers-seeking-more-sales-small-firms-get-hacked

The Expert Speaks

Bob Parisi, network security and privacy practice leader at the insurance brokerage of Marsh & McLennan tells DelawareOnline that small and mid-size companies are “where we’re going to see some of the most aggressive growth in the next couple of years, because it’s been a part of the market that was ignored.”

The ad describes how a California-based online print shop was targeted by hackers who exposed clients’ names, addresses and credit-card numbers last year. Much like dentists whose EDRs are hacked, after discovering the breach, business owner David Handmaker had to notify affected customers. The Ponemon Institute predicts that 20% or more of the customers notified will instantly become former customers.

“We’re just much, much more aware of the fact that being a small company” makes us more of a target,” Handmaker tells DelawareOnline. He adds that larger businesses have “more resources, and so I think their security practices are maybe a little more evolved.”

Assessment

Small businesses such as print shops and dental practices have become de-facto targets – and according to security experts, easy pickings. I’m not wrong. I’m early.

More

Conclusion

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

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

Product DetailsProduct Details

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

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On Private Equity-Owned Dental Practices

The boom and bust of private equity-owned dental practices in the U.K …. Lessons to be learned?

By Darrell Kellus Pruitt DDS

“Why the dental business became more and more like pulling teeth,” by Harry Wilson, City Editor of The Times (U.K.)

Describes problems caused by agreements made between investor-owned dental groups and the government. Neither the investors nor government officials – the stakeholders – will suffer the inevitable permanent harm. The losers are dentists and patients – the principals.

https://www.thetimes.co.uk/article/why-the-dental-business-became-more-and-more-like-pulling-teeth-vdrs0nwrr

Wilson:

If you are an NHS dental patient, there is a better than one in ten chance that you are a customer of Integrated Dental Holdings, better known as Mydentist.

The private equity-owned dental practice owner has grown nationwide in a dozen years of debt-fuelled buying that has made it the biggest dental services company not merely in Britain but Europe. In the past seven years alone, Mydentist has acquired 237 dental practices, increasing its network to more than 600.

Yet having grown so rapidly in the recent past, questions now are being asked about its future. Results last month showed why, as revenues fell for the third straight year, while pre-tax losses nearly doubled to £144 million. With more than £1 billion of debt, including hundreds of millions in shareholder loans to The Carlyle Group and Palamon Capital Partners, its private equity owners, Mydentist said that it would not be buying any more dentist surgeries for the time being. (more).

———————

Bringing it home:

Rumors of “Medicare for all” are in the air, making your support of Texas Dentists for Medicaid Reform very worthwhile, Doc.

https://www.tdmr.org/about-tdmr/

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.

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

HOSPITALS:

“Financial Management Strategies for Hospitals” https://tinyurl.com/yagu567d

“Operational Strategies for Clinics and Hospitals” https://tinyurl.com/y9avbrq5

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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™

 

COMMUNITY MASKING: The Impact on COVID-19

A Cluster-Randomized Trial in Bangladesh

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Freudenberg's surgical masks get FDA clearance

LINK: https://www.poverty-action.org/sites/default/files/publications/Mask_RCT____Symptomatic_Seropositivity_083121.pdf

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MORE: https://www.msn.com/en-us/news/world/us-records-40-million-known-virus-cases/ar-AAOaN08?li=BBnb7Kz

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Joint vs. Separate Ownership of Physician Assets

DOCTORS MUST KNOW THE DIFFERENCE

 Dr. David Marcinko MBA CMP®

https://i0.wp.com/images.lawyers.com/LBM_Images/Lawyers/lawyer-j-christopher-miller-photo-1613768.jpg

J. Christopher Miller; JD

HISTORY

Do you remember when Andy DuFresne confronts the chief guard of his prison in The Shawshank Redemption and tells him to divert an inherited sum of money into his wife’s name? Even sixty-five years after the 1949 setting of that conversation, a common means of protecting assets from the reach of creditors is to transfer property into a spouse’s name. Assuming that the spouse is not also at substantial risk of being the target of lawsuits because of the spouse’s profession or lifestyle, it is an effective means of accomplishing that goal. Creditors with valid judgments against an individual may only attach and seize those assets owned by that individual.  Anything worth doing is worth doing right, however, and there are several pointers to structuring asset ownership in a way that maximizes its protective value.

STATES

A small number of states, such as Hawaii, Pennsylvania, and Florida, have statutes that automatically protect property jointly owned by spouses from creditors of either spouse, but often not from creditors of both spouses together. Property that benefits from this characterization is held in as a “tenancy by the entirety,” and prevents only one spouse from transferring away property that the married couple obtained together.  Again, variation in state law determines just how beneficial the formation of a “tenancy by the entirety” can be from an asset protection standpoint.  This protection comes from a public interest in the preservation of marital assets, such that one spouse’s indiscretion may not harm the position of the other spouse. 

The most significant limits to the advantage provided by the tenancies of the entirety are first, that the creditors with claims against both spouses may seize such jointly held property, and second, that upon the first death between the spouses, the property flows directly to the surviving spouse alone, who then no longer has the benefit of the creditor protection.  Moreover, in April of 2002, the U.S. Supreme Court sharply curtailed the benefit provided by tenancies by the entirety by ruling that it does not shield an asset from the federal authorities, even if the tax liability was incurred only by one spouse.[1]

Some states in the South and West are community property states, which is similar to, but not the same as, tenancy by the entirety.  Under the community property theory, all property acquired by either spouse during the residency in that state (or in some states, prior to or during the residency), will be considered jointly owned property even if titled to an individual spouse. Merely by moving to one of these community property states, a person can automatically shift assets, thus reducing the quantity of assets subject to the creditors of the wealthier spouse.

PROPERTY

Community property and land owned as tenants-by-the-entirety is different from a third type of ownership called Joint Tenancy with Rights of Survivorship, sometimes abbreviated as “JTWROS”.  Joint tenancy with rights of survivorship may ease some burdens associated with probating a decedent’s estate, but this form of ownership is not ideal when viewed through the asset protection prism.

An alternative is to hold assets in the name of one spouse or the other, or as “tenants-in-common.”  Tenancy-in-common is best described as a situation in which each spouse owns a one-half undivided share in the property, but does not have the automatic right to full ownership at the death of the other spouse. 

Three advantages flow from this form of ownership:

Asset Protection-Protect Your Assets from Lawsuits ...
  • Neither spouse owns the property exclusively.

A creditor seizing the interest of one spouse would not have a valuable asset because it could not evict the remaining spouse, so creditors will attack these assets only as a last resort to satisfy their claims. However, a lien recorded against either fractional interest would have to be satisfied upon its sale, so that the net proceeds would be reduced by the amount of the lien.  For this reason, tenancy-in-common is only a temporary means of protecting an asset from an adverse judgment, and not quite the same as fully separate ownership.  This flaw is one reason why many estate planners recommend the funding of property into the name of a spouse or family member less vulnerable to adverse judgments.

  • If either spouse were to die, only half of the property would be subject to estate tax.

Ownership of property as tenants-in-common helps in the estate planning arena by facilitating the process of equalizing the assets held by each spouse. Changes made during 2010 and 2013 to the estate tax laws have pushed the federal estate tax exemption above $5 million, so fewer individuals (less than ½ of 1% of the general public by some estimates) will realize an actual tax savings from such planning. Even more appealing is that surviving spouses can now claim the unused exemption left behind by a deceased spouse. Estate tax concerns are now playing a much smaller role in recommending how spouses own their property.

  • A dying spouse has the ability to control how his or her interest is distributed.

In many simple Wills, all property of a spouse is given by bequest to the surviving spouse.  Such a bequest could include partial ownership interests in real estate.  If the surviving spouse is concerned about asset protection, this additional property would not be beneficial because it would easily be sacrificed to the survivor’s creditors.  One way of avoiding this result is to build an estate plan in which each spouse bequests the partial interest owned by that spouse to a trust.  At the first death between two spouses, the trust will hold the partial ownership interest for the benefit of the surviving spouse.  The trust holding the partial residence interest preserves the deterrent faced by creditors of the surviving spouse because seizure of the surviving spouse’s interest would not terminate the spouse’s right to use the land provided for in the trust.

A different set of rules applies to property held jointly by medical professionals who are not married to each other. If property is owned jointly among siblings or business associates instead of a business entity, the owners should make sure that the deed names them as tenants-in-common.  Otherwise, each successive death among the owners will shift the ownership to the survivors, and leave the family of the deceased owner with no lasting value from the owner’s investment into the property and its improvements.

LONG TERM

Assets should be held in a way that protects them from creditors for the long term. The form of asset holdings should thus be a significant part of the discussions held with professional advisors, so that the protection lasts beyond your death or that of your spouse. Structure the protected assets so that they do not flow back to you if your spouse should pass away.  In this manner, integrated asset protection, estate planning, and financial planning unite to protect the family’s interests by extending the benefits of creditor protection for the long term.

ASSESSMENT: Your comments are appreciated.

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[1] See United States v. Craft, 535 U.S. 274 (Apr. 17, 2002).

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

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PODCAST: Health Insurance Claims Adjudication Explained

MEDICAL CLAIMS ADJUDICATION

By Eric Bricker MD

Claims Adjudication Occurs between a Healthcare Provider Submitting a Claim to a Health Insurance Company and the Insurance Company Making a Payment Back to the Provider.

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PODCAST: The State of Mental Health

IN THE USA

By Eric Bricker MD

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Why Your Company Needs a Clear Mission Statement?

A QUARTET OF REASONS!

It’s going to be a good idea to do everything you can to help your company succeed. One good thing that you can do for your company is to create a clear mission statement.

Why is a mission statement so important for your company, though? Read on to learn exactly why your company needs a clear mission statement so much.

By Jonathan Mase MBA

Mission Statement

READ HERE: https://jonathanmase.wordpress.com/2021/09/01/why-your-company-needs-a-clear-mission-statement/

Your comments are appreciated.

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Product Details

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PODCAST: The Health Economics of Renal Dialysis

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KIDNEY DIALYSIS

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

BY DR. ERIC BRICKER MD

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PODCAST: Six [6] Commission Relationships in Healthcare

The Healthcare Industry is Filled with Commission Relationships Where Money Is Paid, But It Is Not Always Obvious.

BY RIC BRICKER MD

Your comments and thoughts are appreciated.

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

THANK YOU

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How vaccine-induced immunity stacks up against natural immunity after an infection?

By Ivan Gazit, Roei Shlezinger, Galit Perez, Roni Lotan, Asaf Peretz, Amir Ben-Tov, Dani Cohen, Khitam Muhsen, Gabriel Chodick, Tal Patalon

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Experts advise people who’ve had COVID-19 to get vaccinated. Still, natural immunity seems to provide stronger, more lasting protection than vaccines alone.

And, it’s a staggering number: Nearly 39 million Americans have had confirmed coronavirus infections – almost 12% of the population.

A spate of new research suggests that natural infection can offer powerful long-term protection against the coronavirus, but that immunity isn’t guaranteed. So researchers still recommend a full vaccine course to lower the risk of reinfection for people who’ve had COVID-19 before.

Genomic Study Points to Natural Origin of COVID-19 – NIH Director's Blog

Here’s how to understand your immunity if you’ve had COVID-19.

READ: https://www.medrxiv.org/content/10.1101/2021.08.24.21262415v1

RELATED: https://www.thelancet.com/action/showPdf?pii=S1473-3099%2821%2900460-6

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PODCAST: The ‘Weaponization’ Of The CV19 Vaccine?

DR. JOHN TRAVIS MD MPH

John W. “Jack” Travis, MD, MPH, completed his medical degree at Tufts University and a residency in preventive medicine at Johns Hopkins, where he received a Masters in Public Health and created one of the first computerized Health Risk Assessments (HRAs).

Dr. Jack joins colleague Pete R. Peter R. Quinones to describe what he refers to as the “weaponization of vaccines” and specifically concentrates on the CV19 “vaccines”.

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COVID-19 Information | Peachtree Corners, GA

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PODCAST: https://freemanbeyondthewall.libsyn.com/episode-586

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Study Finds COVID-19 Accelerated Physician Practice Acquisitions

Study Finds COVID-19 Accelerated Physician Practice Acquisitions

By Health Capital Consultants, LLC


A recent study from Physicians Advocacy Institute (PAI), prepared by Avalere Health, associated the growing number of both physician practice acquisitions and employed physicians between 2019 and 2021 with the COVID-19 pandemic.

To study COVID-19’s impact on physician employment trends, the June 2021 study evaluated the IQVIA OneKey database that contains physician practice and health system ownership information.

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To assess these trends at a national and regional level, Avalere researchers studied the two-year period from January 1, 2019 to January 1, 2021. (Read more…)

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PODCAST: General Electric Healthcare!

WHY NO GROWTH?

BY ERIC BRICKER MD

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PODCAST: The Growing Tele-Medicine Adoption

By First Stop Health

What is Telemedicine?

Even Through the Waxing and Waning of the Pandemic Over the Subsequent Months, Consumers Are Still 4X More Likely to Use Telemedicine Than They Were Previously.

PODCAST: https://tinyurl.com/druhseb5

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Litigation and Legacy in Education and Medicine

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Distinct Fields Bound by Certain Parallels

[By Jeffrey M. Hartman]  [Dr. David Marcinko MBA]

jhThe fields of education and medicine are distinct, yet bound by certain parallels. In particular, litigation has shaped present practices in each field. Case law has expanded the rights of students and parents while increasing protections for patients. Resulting improvements in the quality of education or health care vary depending on perspective.

Of greater certainty is the comparable increase in procedures, protocols, and overall bureaucracy needed in each field as a result of litigation.

Compensation Culture

Throughout the 1980s and 1990s, a perceived rise in civil cases led some pundits to ascribe a compensation culture to certain segments of America. Sensationalistic stories about plaintiffs seeking outrageous damages generated concern that this compensation culture was real and threatening to business interests across the country.

Media outlets frequently portrayed those behind the questionable suits as poor but entitled people looking to take advantage of tort law for personal gain. Pundits claimed these cases represented a decline in personal responsibility matched by an increase in shameless greed. At the same time, the notion of frivolous litigation creating unnecessary layers of bureaucracy took hold in the American conscious and remained there.

Predatory Litigation

The actual incidence and impact of supposedly predatory litigation remains debatable. Some civil liberties advocates suggest American companies created smear campaigns in the media to make the issue appear more prevalent than it was while attempting to curtail future suits. Without question, some companies have had to pay significant damages, particularly in class action cases.

However, the claims against these companies typically haven’t materialized without cause. Tort law always has existed as a protection. A few plaintiffs and attorneys may have exploited these laws and others may continue to do so. Such exploitative cases haven’t outnumbered cases built around legitimate claims.

Ethics

Questions about the ethics and even the prevalence of civil suits are the stuff of legal philosophy. The more immediate question is whether or not such cases have impacted particular fields and if so, what has been the nature of the impact. Legal precedents often lead to regulation of industries. Some forms of regulation can alter business practices. This can be for the better of all involved. Even if regulation increases costs, it often improves safety or quality.

In fields such as education and medicine, litigation has profoundly influenced practices. Influence on quality is another matter.

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Education

The impact of litigation on education has been most apparent in special education. Class action suits resulted in the foundational special education law in America. Case law continues to establish precedents and corresponding mandates that states and school districts must follow. Many of the cases parents bring against districts stem from these districts struggling to abide by demanding mandates. Large districts retain teams of attorneys who spend a disproportionate amount of their time handling special education cases. Special education bureaucracy requires many schools to employ administrators who deal solely with compliance and protocol. In special education, litigation has led to more litigation.

Special Education

Special education litigation affects school practices in several additional ways. Compensatory education losses in special education pull from overall budgets. Teachers need to compile data on special education students not just for planning, but to protect themselves and their schools in disputes with parents. School members of IEP teams construct programs from the perspective of how readily they can defend themselves should a legal case develop. Decisions about goals for students are often based on the likelihood of students appearing to make progress in a way that prevents potential conflict. When lawsuits do emerge, school districts have demonstrated a historic willingness to settle and give parents what they want rather than getting involved in lengthy and costly legal battles.

Medicine

In medicine, public perception of the effects of litigation are somewhat skewed. Malpractice cases make for attention-getting headlines. However, the number of malpractice suits has decreased in recent years. The average amount for damage claims has leveled off as well. These cases tend to be reserved for incidents involving serious injury and death. Although this might seem counter-intuitive, plaintiffs often lose malpractice cases. Preventable mistakes still account for a massive amount of loss in medicine, but the public perception of malpractice suits driving up insurance costs isn’t exactly accurate.

Malpractice Liability

This isn’t to say litigation has had no effect. Some health care professionals have had their careers upended by ruinous malpractice suits. A few states have enacted damage caps to limit what plaintiffs can claim. Expensive malpractice insurance has become ubiquitous for health care professionals. Many physicians have been suspected of practicing defensive medicine, or over-diagnosing for their own protection from suits. Defensive medicine resembles the tendency of special education teachers to write IEPs that ensure student progress. Layers of bureaucracy weigh on health care systems. Much of this exists as liability protections. Again, this parallels how schools have to handle special education.

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Improvements?

So, has litigation improved either field? In education, programs for students with special needs have expanded opportunities for equitable education. The expansion stems directly from litigation. However, special education has not solved the dearth of opportunities waiting for students with special needs after high school. At the same time, the expense of special education—including the continuing need for defense against further litigation—mires the most vulnerable school districts.

Health care has improved in many ways in recent decades, but most of these improvements are tied to technological advancements rather than litigation. Technological innovations also have contributed to increases in costs. The surge in bureaucracy does more to protect health care systems than patients, but patients have indirectly benefitted somewhat from the precautions litigation has made necessary. Patient behavior continues to drive the incidence of illness, but widespread health education campaigns have made some impact in behaviors such as smoking. Litigation has aided the creation of such public campaigns through pressure on lawmakers.

Imperfect Analogues

Education and medicine aren’t perfectly analogous, so certain comparisons can’t be made fairly. Despite differences, each field has had to respond in similar ways to changes in society. Pressure from litigation is just one of these changes. Other changes have involved how each field interacts with the public it serves. Schools and hospitals have increasingly become de facto social service providers for needy communities. Educators and physicians have had to become wary of their reputations via online ratings sites and their presence in social media in general.

Experts in both fields have their positions challenged by what information parents and patients find online. These similarities might be more analogous than similarities wrought by litigation.

Although the effects of litigation have been different in the two fields, the response in each field has been noteworthy. Litigation more or less created special education. The burgeoning field has improved equitable opportunities while creating logistical quagmires for schools. Outcomes for students have been limited by factors schools can’t control, thus derailing some of the idealistic aims of litigation. Poor outcomes haven’t lessened the burden special education law places on schools.

Meanwhile, public perception of how malpractice has affected medicine differs from the actual effects. Litigation has affected physician practices more than it has affected costs. Patient care has improved through technology more than through legal mandates. Protections have improved vicariously through the threat of litigation, but this might be inadvertently affecting how physicians offer treatment.

Assessment

Overall, litigation has complicated each field by adding layers of protective bureaucracy. Improvements in quality might not be commensurate with the effort expended. Often what the public gains in protection is loses in simplicity and effectiveness. These fields exemplify this maxim.

ABOUT

Jeffrey M. Hartman is a former teacher who blogs at http://jeffreymhartman.com/

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PODCAST: On Electronic Medical Records

EMR OVERVIEW

BY ERIC BRICKER MD

Electronic Medical Records (EMRs) are Used by 80-90% of Hospitals and Physician Practices. One Study Found that EMRs Have Lowered Patient Mortality by 0.09%.

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On Excess IRA and Roth IRA Contributions

BY DAN MOISAND CFP®

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READ HERE: https://www.msn.com/en-us/news/other/i-contributed-too-much-to-my-ira-and-roth-ira-%e2%80%94-what-now/ar-AANP1IP?li=BBnb7Kz

MORE: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits

EDITOR’S NOTE: Colleague Dan Moisand contributed to our textbook on “Comprehensive Financial Planning Strategies for Doctors and Advisors.”

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PODCAST: Physician Relative Value Units?

HOW DOCTORS GET PAID!

By Eric Bricker MD

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What is a BALACLAVA?

What is a Balaclava; Anyway?

Courtesy: www.CertifiedMedicalPlanner.org

By Dr. David E. Marcinko MBA CMP®

What it is?

A Balaclava, also known as a balaclava helmet or Bally or ski mask, is a form of cloth headgear designed to expose only part of the face, usually the eyes and mouth.

Now, depending on style and how it is worn, only the eyes, mouth and nose, or just the front of the face are unprotected. Versions with a full face opening may be rolled into a hat to cover the crown of the head or folded down as a collar around the neck.

Here is my version for the Corona Virus pandemic! Glasses and a mouth cover complete the look and proposed utility.

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So, I’ve written 30 major medical, business, economics and finance textbooks including three dictionaries of 30,000 peer-reveiwed terms. But, this was a new word previously unknow to me. How about you?

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RUNNER-UPS

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ASSESSMENT: Your thoughts and comments are appreciated.

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BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs

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PODCAST: Stark and AKS Final Rules

ANTI-KICKBACK STATUTE Overview and Impact

Do you want to learn more about the Stark Law and Anti-Kickback Statute Final Rules and how they impact your practice? Join us for a one-hour webinar, presented with Hancock Daniel.

Health Capital Topics Newsletter

By Health Capital Consultants, LLC

PODCAST: https://www.healthcapital.com/resources/stark-and-aks-final-rules-overview-and-impact

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Bundled Payment Model Success Unaffected by Type of Participation

BY HEALTH CAPITAL CONSULTANTS, LLC

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Bundled Payment Model Success Unaffected by Type of Participation


Historically, Medicare has offered value-based payment models to healthcare organizations on both a voluntary and a mandatory participation basis. Because voluntary participants could self-select into programs to reduce spending, it was assumed that they achieved greater savings than mandated participants, but until recently, no data had tested this.

However, a June 2021 study in the Journal of the American Medical Association (JAMA) found no difference in risk-adjusted episodic spending between voluntary and mandatory payment model participants. (Read more…) 

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PODCAST: Hospital 340-B Drug Programs

BY ERIC BRICKER MD

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On “FACE MASKS”

FACE MASKS

By Anonymous

I love freedom and personal liberty. But I also don’t want to contract or share COVID-19.

I wear a seat belt – I will comply with any mask  requirement.

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

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PODCAST: What Exactly is a Human Sneeze?

All About “STERNUTATION”

Courtesy: www.CertifiedMedicalPlanner.org

A Silly Question Until Covid-19!

A “Sternutation” is a sudden involuntary expulsion of air from the lungs through the nose and mouth due to irritation of the nasal passage.

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

A sneeze is not always related to an underlying medical condition. It may be caused by:

  • Nasal irritants (dust, pepper, pollen etc)
  • Sudden exposure to bright light
  • Breathing cold air
  • Object struck in nose.

Self-treatment helpful in some less- serious cases include:

  • Change the furnace or air conditioner filters
  • Do not have pets in the house if allergic to animal dander
  • Wash linens in very hot water (at least 130 degrees Fahrenheit) to kill dust mites
  • Vacuum and dust frequently
  • Use a good humidifier especially at night, if the air is too dry
  • Drink plenty of water if suffering from flu/common cold.

See a doctor if you notice the following :

  • Fever greater than 101.3 F (38.5 C)
  • Fever lasting five days or more or returning after a fever- free period
  • Shortness of breath
  • Wheezing
  • Severe sore throat, headache or sinus pain
  • Allergy does not resolves in a few days.

See a doctor immediately if you notice:

  • Sneezing is continuous
  • Causes severe ear pain, drowsiness.

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PODCAST: https://www.bing.com/videos/search?q=sneeze&&view=detail&mid=C4DA4CD281B4AD36C2A5C4DA4CD281B4AD36C2A5&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Dsneeze%26FORM%3DHDRSC3

VIDEO: https://www.msn.com/en-us/video/science/see-how-a-mask-affects-how-a-cough-travels/vi-BB13AQBH?ocid=SK2LDHP

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PODCAST: Why Bitcoin is a “Once-in-a-Species” Asset Class

In this episode, DWealthMuse host, Dara Albright, and guest Jeff Ross, CIO of Vailshire Capital Management, discuss why bitcoin may just be that once-in-a-species asset class that saves the planet from economic and, yes, even environmental ruin.

This episode is loaded with so many great insights including:

See the source image
  • Why Jeff believes bitcoin’s investment risk has evaporated;
  • How bitcoin fits into Warren Buffet’s investment thesis;
  • Two characteristics bitcoin skeptics share: a lack of understanding and deep ties to the traditional banking system;
  • Why bitcoin is a dishonest politician’s worst nightmare;
  • Why every modern retirement portfolio should have bitcoin exposure;
  • Why regulatory scrutiny may be turning away from bitcoin and heading straight towards ethereum and altcoins;
  • How bitcoin could solve the world’s energy problems;
  • Why we may be nearing the end of the Keynesian economic experiment;
  • How bitcoin forces an honest unit of accounting by governments;
  • Why fiat is destined to self-destruct while bitcoin is designed to appreciate in time;
  • Whether bitcoin can reach a new all-time high by Jeff’s August 29th birthday and cross 100,000 by Dara’s December 24th birthday?

PODCAST: https://dwealthmuse.podbean.com/e/episode25bitcoinbulls/

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The BUSINESS of Medical Practice

BY DR. David Edward Marcinko MBA

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PODCAST: On Digital Health Start-Ups

On Medical Entrepreneurs

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BY ERIC BRICKER MD

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Rags to Riches thru [Medical] Education?

Or … Riches to Rags for Docs and the ACA?

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American society prides itself on being a meritocracy, particularly with the fruition of the ‘American Dream’ being achieved by individuals from all types of backgrounds; like doctors, Financial Advisors [FAs] and all medical professionals.

Success

Success today typically involves some form of higher education, to expand intellectual capacity and to hone a skill-set.

However, the highest quality education is not the most easily accessible. And so, this infographic takes a look at how the elite tend to fare well, and how the disadvantaged aren’t provided the same opportunities.

Source: www.onlineschools.org

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PODCAST: Traditional Medicare Hospital Value Based Payments Explained

THREE CATEGORIES OF VBC

By Eric Bricker MD

Medicare Value-Based Payments (also Called Alternative Payment Models) to Hospitals Fall Into 3 Main Categories:

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

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Professional Medical Education Costs

Average Full Time – Full Year Tuition 2015-2016

By Wall Street Journal

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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. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/ 

Contact: MarcinkoAdvisors@msn.com

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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™

PODCAST: Health Insurance Carriers Now Subject to Anti-Trust Regulations

Congress Passed and the President Signed the Competitive Health Insurance Reform Act of 2020 (CHIRA)

By Eric Bricker MD

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

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HOSPITAL OPERATIONS: Organizations, Strategies, Techniques, Tools, Templates and Case Models

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FINANCIAL PLANNING: Strategies for Doctors and Advisors

SPONSOR: http://www.CertifiedMedicalPlanner.org

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PODCAST: Using “GoodRx” to Check Prescription Prices

BY ERIC BRICKER MD

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PODCAST: Improving Healthcare Outcomes & Supporting Providers in Value-Based Care

BY NIHCM

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Value-based care has the potential to transform health care, improving quality and access for millions of people, while addressing COVID-19 related disparities. As a result of the pandemic, many rural communities and communities of color face significant reductions in access to health care.

More than 8% of practicing physicians nationwide closed during COVID-19 despite 82 million Americans living in “health professional shortage areas.” The financial strain and burnout experienced by providers has fueled interest in accelerating the adoption of value-based care. As of 2017, only 34% of health care dollars were the result of value-based care payments. This low rate of adoption exists despite evidence tying payments to patient health outcomes and rewarding higher quality care leads to reduced costs.

This webinar brought together experts who are driving innovative initiatives, achieving excellence in health outcomes, and uncovering more effective ways to implement value-based care.

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Management Strategies, Operational Techniques, Tools, Templates and Case Studies

FOR HOSPITALS AND HEALTHCARE ORGANIZATIONS

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BY DR. DAVID E. MARCINKO MBA

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PODCAST: The American Rescue Plan and Health Care

BY ERIC BRICKER MD

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Do We Really Need Electronic Dental Records [EDRs]?

BY DARRELL K. PRUITT DDS

Do you really need digital records, Doc?

Why?

The Important Role of Dental Records - Fiorillo Dental


“Ransomware criminals’ demands rise as aggressive tactics pay off – Average ransomware demands and payments are up as criminal enterprises pour money into the profitable operations.”

By Brooke Crothers for FOXBusiness, August 14, 2021.
https://www.foxbusiness.com/technology/ransomware-criminals-demands-rise-aggressive-tactics-pay-off

Crothers: “The ransomware crisis just keeps getting worse as criminal enterprises pour money into highly profitable ransomware operations, according to a report from Palo Alto Networks’ Unit 42 security consulting group. The average ransomware payment climbed 82% to a record $570,000 in the first half of 2021 from $312,000 in 2020.”

I am asking Dr. Roger P. Levin, DDS, founder and CEO of Levin Group, why he and his international consultant group still promote electronic dental records.

How about it, Dr. Levin? Can you describe how practice management software benefits dental patients? The software doesn’t make dentistry safer or less expensive than paper records – even if digital is more convenient for dentists and staff (most of the time).

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