On the PPMCs of Yester Year and Today

Posted on November 18, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Over Heard in the Doctor’s Lounge

Courtesy: www.CertifiedMedicalPlanner.org

On the PPMCs of Yester Year and Today

PPMC = Physician Practice Management Corporation

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

Reflect on medical colleagues willing to securitize their practices a few years later, and cash out to Wall Street servitude for riches not rightly deserved. Where are firms such as MedPartners, Phycor, FPA, Coastal Healthcare, and a host of others, now?

ESSAY: https://medicalexecutivepost.com/2007/11/27/ppmc-redux/

A survey of the Cain Brothers Physician Practice Management Corporation Index of publicly traded PPMCs revealed a market capital loss of more than 99%, since inception.

UPDATE: https://www.beckershospitalreview.com/hospital-physician-relationships/physician-practice-management-a-new-chapter.html

QUERY: Would niche educated and physician-focused financial advisors [The Certified Medical Planner™ professional designation did not yet exist] have been able to avoid this calamity?

ME-P

TODAY: https://medicalexecutivepost.com/wp-content/uploads/2007/11/ppmc.pdf

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

Filed under: iMBA, Inc. | Leave a comment »

A.I. Adoption and Perceptions in Healthcare

Posted on November 15, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

By http://www.MCOL.com

***

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Information Technology | Tagged: AI, artificial intelligence, HIT | Leave a comment »

Why Your Digital Medical Practice Marketing Campaign is Failing?

Posted on November 13, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Why Your Medical Internet Marketing Campaign Isn’t as Effective as It Used to Be

Courtesy:

www,CertifiedMedicalPlanner.org

And How Much it Should Cost?

A strong online presence is crucial to running a successful business, and healthcare is no exception. However with constant change, many businesses are experiencing underperforming campaigns and struggling to figure out where to spend their marketing dollars.

For example:

Should you invest heavily in pay-per-click (PPC) advertising?
Focus your efforts on search engine optimization (SEO)?
Hit the ground running with social media?

Now, according to colleague John Deutsch, the answer is that you should never focus solely on one marketing channel, as it could take months or even years to recover when changes in the marketing industry occur – and they inevitably will occur.

ESSAY: https://medicalexecutivepost.com/2014/11/24/why-your-medical-internet-marketing-campaign-isnt-as-effective-as-it-used-to-be/

And, how much should it cost?

ESSAY:: https://medicalexecutivepost.com/2011/09/23/how-much-money-should-a-medical-practice-spend-on-a-marketing-campaign/

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Marketing & Advertising, Practice Management | Tagged: medical practice, Medical Practice Marketing Campaign is Failing? | Leave a comment »

An Entrepreneurial Mindset Can Hinder Wealth Building

Posted on November 12, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

“Help Wanted: Entrepreneur”

By RICK KAHLER, CFP

You have probably never seen an ad like this, because entrepreneurs are not hired. They hire themselves. Merriam-Webster defines an entrepreneur as “a person who starts a business and is willing to risk loss in order to make money” or “one who organizes, manages, and assumes the risks of a business or enterprise.”

God bless entrepreneurs. Without them our world would look much different. We would probably still be living in caves, hunting with clubs, and eating raw meat. They create companies from scratch. In so doing, they create jobs and take significant monetary risks of a business failure.

They also stand to gain substantial rewards for success, but that success is far from guaranteed. Few people realize that most entrepreneurs fail in their attempts in business. According to Investopedia, 50% of all new businesses fail in 5 years, 66% in 10 years, and 75% in 15 years.

Given those statistics, the entrepreneurs who succeed must be rich, right? A study by Career Explorer found that the average full-time salary of an entrepreneur is $43,240 a year. To put this into perspective, the average starting salary for a graduating four-year degree student at the South Dakota School of Mines and Technology is $63,354. Maybe there should be a song, “Mamas, don’t let your babies grow up to be entrepreneurs.”

My experience, however, is that it really doesn’t matter what Mama says. The entrepreneurial mindset is somewhat inextinguishable. While there have been some attempts at teaching entrepreneurial skills, it’s hard to teach grit, determination, and perseverance, coupled with a good dose of fantasy thinking and denial. It’s really hard to “tell” an entrepreneur anything.

Fittingly, entrepreneurs love to invest in their own companies. Investment advisors call such holdings “tangible” investments, ones you can see and touch. Tangible investments include start-up businesses, family-owned businesses, and all types of directly owned real estate. They are inherently non-diversified and illiquid. Typically, entrepreneurs have the vast portion of their net worth tied up in their businesses. It’s incredibly rare to find one with a stash of cash or any type of liquid portfolio or retirement plan.

Why? The entrepreneurial mindset. First, entrepreneurs don’t believe in traditional diversification. Why settle for earning an average of 5% a year when you can earn ten times that in your business? Never mind that the chance of losing it all is three to one. Most entrepreneurs firmly believe they are the one guaranteed to succeed even though the deck is stacked against them.

Second is that since 75% of businesses ultimately fail, most entrepreneurs are losing, not making, money. They are perennially cash-poor and need every dollar they can find to fund their negative cash flows. Even those who are making money rarely have any liquid investments because entrepreneurs are always looking for new ventures, which of course, need funding.

One of the most difficult tasks I face is persuading a successful entrepreneur to take some hard-earned “chips” off the table and sock away a low-risk, diversified nest egg to assure a comfortable retirement. The only ones I’ve convinced to do that were older entrepreneurs who had owned their companies for well over 15 years and were under five years from retirement. All the younger entrepreneurs to whom I have given that advice have refused the notion. All have eventually lost 75% to 90% of their net worth and, sadly, the opportunity to secure their future.

The entrepreneurial mindset of determination and perseverance can bring significant financial rewards. Expanding that mindset to include a broader, more diversified view of investing for the future can turn those rewards into long-term financial independence.

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Experts Invited, Financial Planning, iMBA, Inc. | Tagged: Entrepreneurs | Leave a comment »

INVITE A DOCTOR – FINANCIAL ADVISOR TO YOUR NEXT EVENT

Posted on November 7, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

INVITE A PHYSICIAN & TRUSTED FINANCIAL ADVISOR COLLEAGUE TO YOUR NEXT SEMINAR, MEETING OR EVENT

Courtesy: https://lnkd.in/eBf-4vY

Dr. David E. Marcinko MBA CMP®

Your Audience Deserves a Nationally Known Speaker and Colleague.

[Professor Dr. David E. Marcinko MBA CMP® is Now at Your Service]

TOPIC LIST [hard and soft]: https://lnkd.in/e7WrDj9
2nd OPINIONS [business and finance]: https://lnkd.in/dw7FHyP
INVITATION [seminar key and end-notes]: https://lnkd.in/e-rxYk9

CONTACT: Ann Miller RN MHA

Email: MarcinkoAdvisors@msn.com
WEB: https://lnkd.in/eVGcji5
Ph: 770-448-0769

THANK YOU

***

Filed under: iMBA, Inc., Touring with Marcinko | Tagged: CMP Program, David E. Marcinko | Leave a comment »

Physician Insurance Payments 2019 – AMA

Posted on November 6, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Private Insurors VERSUS Medicare and Medicaid

***

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

***

Filed under: Health Insurance | Tagged: AMA, Physician Insurance Payments 2019 | Leave a comment »

Prevent Stroke

Posted on November 3, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Quit – Control – Manage

By WHO

***

MORE:

shen_2019_oi_190314

***

Filed under: Health Insurance | Tagged: CVA, stroke | Leave a comment »

Healthcare in Non-Traditional Locations?

Posted on November 2, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

FY: 2018-2019

By http://www.MCOL.com

***

Conclusion

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

***

Filed under: Practice Management | Tagged: Healthcare in Non-Traditional Locations | Leave a comment »

The Cost of Business Embezzlement

Posted on October 29, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Nothing Typical

By Rick Kahler CFP

As a fan of our local ECHL hockey team, the Rapid City Rush, I was sorry to learn recently that the team’s new owners had uncovered evidence of some $500,000 worth of embezzlement over the past several years.

Other embezzlement arrests or convictions in our area in 2019 have included a priest, an accountant for a nonprofit, a former chief of a volunteer fire department, and a former secretary of a tribal office. Amounts stolen ranged from $9,100 to $250,000.

Few things strike more fear and disbelief into the heart of an employer than learning a trusted employee has embezzled thousands of dollars. Employers that have gone through this tell me their feelings range from disbelief, violation, anger both at the employee and at themselves, sadness, and fear over the loss of capital and ensuing financial problems the embezzlement often causes.

The study

According to the 2018 Hiscox Embezzlement Study, most instances of embezzlement are serious, long-term crimes. The average case lasted over two years, and the average loss was $357,650. The vast majority of cases involved more than one person. Nearly a third of employee theft cases persisted for more than five years. The average loss for cases that continued for five years or more was $2.2 million and for cases lasting 10 years or more was $5.4 million.

The study found that there is no “typical” embezzler. However, it did find that the median age of embezzlers is 48, slightly more women than men commit this type of crime, and embezzlers’ most common job functions are finance and accounting.

Embezzlers may target organizations of all sizes and types. Four of the five local cases I cited were non-profits. Large organizations experience fewer instances of embezzlement than small and mid-sized organizations. According to the study, financial services continues to account for the highest number of cases of employee theft of any industry examined.

Many business owners, executive directors, and board members blame themselves for allowing theft to happen under their watch, but in all fairness the warning signs are often subtle.

Hiscox has identified five common characteristics to watch for:

• Intelligence and curiosity: Embezzlers are often eager to know how everything in the office works. Once they learn the processes, they manipulate them for their own gain.

• Extravagance: Watch for employees who are living a lifestyle that is out of proportion to their salary.

• Egotistical risk-taking. Embezzlers often break rules, from traffic laws to company policies to social norms, both at work and in their personal lives.

• Diligence and ambition. Embezzlers may work long hours or refuse to take time off—not out of dedication to the job but in an attempt to avoid being caught.

• Disgruntlement. Employees who feel they are being treated unfairly may be tempted to get even by stealing.

In my experience, most people are honest and trustworthy. But there are some whose past trauma contributes to a pattern of poor financial decisions and behaviors. Embezzlement, which to some degree can be a crime of opportunity, might even seem to be a way to avoid the consequences of previous poor money choices.

The study noted that more than half of the organizations recovered less than a third of what was taken. It also pointed out that embezzlement costs companies far more than money. Business partners may be lost. The damage to an organization’s reputation results in lost customers or donors and difficulty attracting new ones. It can take years to recover. Yet three-quarters of respondents said their current employers did not have insurance to cover embezzlement losses.

Assessment: Embezzlement is a serious crime with serious consequences.

Conclusion

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

***

Filed under: iMBA, Inc. | Tagged: embezzlemen | 1 Comment »

The “Lucifer Effect”

Posted on October 28, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding How Good People Turn Evil

[By staff reporters]

This is a 2007 book which includes Professor Philip Zimbardo’s first detailed, written account of the events surrounding the 1971 Stanford Prison Experiment — a prison simulation study which had to be discontinued after only six days due to several distressing outcomes and mental breaks of the participants.

The book includes over 30 years of subsequent research into the psychological and social factors which result in immoral acts being committed by otherwise moral people.

It also examines the prisoner abuse at Abu Ghraib in 2003, which has similarities to the Stanford experiment. The title takes its name from the biblical story of the favored angel of God, Lucifer, his fall from grace, and his assumption of the role of Satan, the embodiment of evil. The book was briefly on The New York Times Non-Fiction Best Seller and won the American Psychological Association’s 2008 William James Book Award.

Conclusion

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

***

Filed under: Book Reviews | Leave a comment »

Bank Safety Deposit Boxes; Not So Safe After All?

Posted on October 22, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Not Really a Safe – SAFE?

By Rick Kahler CFP®

I have routinely recommended that people use a bank safe deposit box to store valuable papers and small assets. These include documents like wills, trust documents, ethical wills, and unrecorded deeds. Valuable assets would include diamonds, gemstones, jewelry, bullion, and small collectables like rare coins, stamps, and trading cards.

The physical protection of a bank vault, plus a system of access requiring two keys kept by the customer and the bank, would seem to provide a great deal of security. Yet several recent news articles suggest safe deposit boxes may not be as safe as they seem.

Report

An article in the New York Times reported 44 robberies in the last five years related to safe deposit boxes. Even worse were numerous bank errors in which boxes were moved, misplaced, drilled open, or closed by mistake. A large Maryland bank closed several branches and lost hundreds of safe deposit boxes. One customer lost $500,000 worth of gold and gems.

In each case, banks vigorously fought any requirement to make their customers whole. Even more shocking, no provision of federal banking law regulates safe deposit boxes.

Nor do banks insure the belongings of customers who trustingly store their most precious valuables in safe deposit boxes. The risks fall on the renter. Wells Fargo’s safe deposit box contract caps the bank’s liability at $500. Citigroup limits it to 500 times the box’s annual rent. JPMorgan Chase has a $25,000 ceiling on its liability.

***

My Story

Decades ago, I placed some rare coins in a safe deposit box with a local bank. A few years ago I went to retrieve my valuables, only to find the bank had drilled open the box and sent the contents to the state as abandoned property. I learned that when I relocated my office, the change of address notification failed to carry through to the annual billing notice for the safe deposit box fee. After three years of non-payment, the bank chose to go through the effort of drilling open the box and shipping the contents to the State Treasurer’s office. It would have been simpler to spend a few minutes looking up my information and contacting me.

Eventually I was able to retrieve the contents of the box. I was lucky.

An international expert in rare watches stored 92 watches plus rare coins, worth millions, in a safe deposit box at a Wells Fargo bank branch. Wells Fargo had evicted another customer for non-payment and drilled open the wrong safe deposit box. The customer found his “safe” deposit box empty. Wells Fargo executives could only find 85 of his watches.

The customer sued. Wells Fargo admitted in court that its employees had mistakenly drilled into and terminated the box. The unrecovered items included gold coins and a watch estimated to be worth nearly a million dollars. After years of litigation and appeals, Wells Fargo has offered no restitution.

If a “safe” deposit box isn’t really safe, what can you do instead?

Here are a few suggestions.

1. Consider investing in a high-quality home safe for small valuables and important documents.

2. Scan all important documents and save copies in a secure online “vault.” Many financial planners provide such online backup storage.

3. If you do use a safe deposit box, choose one at the bank you use regularly and open it at least once a year.

4. No matter where you keep your valuables, insure them adequately. Standard homeowner coverage is probably not enough.

5. Share passwords and access codes with another trusted person.

Finally, ask before you store. Understand a bank’s policies and coverage limits before you trust it with your valuables.

Conclusion

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

***

Filed under: Investing, Risk Management | Tagged: banks, safety deposit box | 2 Comments »

OLDER DIVORCING MEDICAL PROFESSIONALS

Posted on October 21, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

“GREY” – “Silver Splitter” – “Diamond Divorcees”

By Anju D. Jessani MBA APM®

By Dr. David Edward Marcinko MBA CMP™

While marriages are more apt to break-up around the seven-year mark, not on a silver anniversary, as divorce has become more common, divorce among older people has also become more common. When divorce does occur in later years, it can present more complicated financial issues when compared with earlier breakups, says Gregg Parish with the College for Financial Planning.

If for example a party dies or becomes incapacitated during the divorce, the surviving spouse will complete retain control of the finances. A common situation Parish says is when a couple owns a home in joint tenancy with rights of survival. Thus, is one spouse dies, the other automatically inherits the house. Parish recommends that older couples in the throws of separation situation, change the ownership to tenants in common, in which each party is considered to own half the property.

Another area older physicians going through a divorce should be especially cautious about is inheritances or gifts from their own parents. They may want to stop or delay distribution of their estate to you to reduce the chance the property would become mixed into marital property. Or the recipient might put any gifts or inheritances into a separate account or trust.

Alimony is more prevalent among this age group of divorced couples. It is not uncommon to find a woman who may not have employable skills, and who must rely on her former spouse for support. As is the case for child support payments in younger parties, steps should be taken to ensure continuation of funds to the recipient if the obligated party dies before the recipients through instruments such as life insurance.

For most older divorcing couples, after their house and their pension, their next most valuable asset is their Social Security rights. Each party vests in the other’s Social Security account after ten years of marriage. That means that even a non-working spouse can usually collect 50% of benefits of the earning spouse; alternatively, the spouse with lower earnings can either collect benefits based on their own earnings, or collect 50% of the benefits their spouse is entitled to. This collection does not impact how much the higher earning spouse can collect. You can learn more about Social Security benefits and rules by contacting the http://www.ssa.gov.

What is often missed in the analysis of divorce is the inequity in Social Security benefits for the non-working spouse or lower earning spouse after separation or divorce. The issue of Social Security benefits can easily be addressed in the divorce agreement by stipulating that the parties will equalize Social Security benefits with the higher earning spouse providing to the lower earning spouse, one-half the difference between the payments provided by the Social Security Administration to each of them. As Social Security benefits are taxable, it is further recommended that these payments be regarded as alimony, and therefore will be taxable to the recipient.

***

Another divorce area often overlooked, given today’s older physician population, is elder care obligations. For example, if a doctor is involved in the care and financial assistance of an older family member, this must be placed on the table at the divorce resolution planning discussions. America is aging and 25% of it population is sixty or older. Every seven seconds someone turns fifty. It is not unusual to live many miles from aging parents.

Imagine the impact if an in-law is in a long-term care facility that is dependent upon the financial help of the children who now get divorced? What happens to the elder persons’ ability to meet their financial obligations and stay in the current facility? How can quality care be coordinated? Who will monitor the ongoing health, mental and physical issues? When does the aging parent need in-home care? Assisted living arrangements or a skilled nursing facility? Yet, the generation of medical professionals between the ages of forty and sixty are dealing with aging parents at a same time their children are entering college. This double financial squeeze has created a new set of eldercare issues.

Most cities and local government agencies are addressing this issue and many non-profit organizations are attempting to fill the gap in this growing societal issue. The following information resources are helpful in this regard: http://www.eldercaredierctory.org, http://www.medicare.gov; http://www.medicaid.gov; http://www.careguide.com; http://www.seniorhousing.net; http://www.caregiver911.com; and http://www.n4a.org.

ACKNOWLEDGEMENTS: To John R. Connell MBA JD CPA PFS Denver, Colorado.

Conclusion

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

***

Filed under: Risk Management | Tagged: Diamond Divorcees, grey divorce, Silver Splitter | Leave a comment »

The Opioid Epidemic Cost Distribution?

Posted on October 20, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

FY: 2015 – 2018

By http://www.MCOL.com

***

Conclusion

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

***

Filed under: Drugs and Pharma | Tagged: opioid, opioid costs | 4 Comments »

NARCAN in BALTIMORE?

Posted on October 19, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

NALOXONE SPRAY!

By Anonymous DEA Agent

Naloxone, sold under the brandname Narcan among others, is a medication used to block the effects of opioids, especially decreased breathing in overdose. Naloxone may be combined with an opioid (in the same pill) to decrease the risk of opioid misuse. When given intravenously, naloxone works within two minutes, and when injected into a muscle, it works within five minutes; it may also be sprayed into the nose. The effects of naloxone last about half an hour to an hour. Multiple doses may be required, as the duration of action of most opioids is greater than that of naloxone.

***

Conclusion

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

***

Filed under: iMBA, Inc. | Tagged: naloxone, narcan | Leave a comment »

A BLACK MARKET PODCAST VIEW OF THE OPIOID CRISIS

Posted on October 15, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

A BLACK MARKET PODCAST VIEW OF THE OPIOID CRISIS

Courtesy: www.CertifiedMedicalPlanner,org

Opioid Overdose Crisis

Every day, more than 130 people in the United States die after overdosing on opioids.1 The misuse of and addiction to opioids—including prescription pain relievers, heroin, and synthetic opioids such as fentanyl used to help relieve severe ongoing pain —is a serious national crisis that affects public health as well as social and economic welfare.

***

The Podcast

And so, I was fascinated with this podcast because I often encountered narcotic seeking patients while in city center and urban practice. It was recorded by my neighbor and Austrian economist Peter Raymond over at “The Free Man Beyond the Wall” website.

Colleague Dr. Mark Thornton recently gave this talk at the Mises Institute Supporters Summit on the opioid crisis that is plaguing the US. Dr. Thornton lays out a short history of this tragic epidemic that is taking lives every day. He addresses how doctors prescribe these drugs, how government regulates them and explains what happens when people are forced into the “black market” to sustain their addiction.

PODCAST: http://freemanbeyondthewall.libsyn.com/episode-169-the-opioid-crisis

MORE: https://medicalexecutivepost.com/2019/08/22/the-opioid-crisis-rising-2000-2017/

MORE: https://medicalexecutivepost.com/2019/02/06/about-the-opioid-crisis/

Your thoughts are appreciated.

BUSINESS, FINANCE AND ECONOMICS TEXTBOOKS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Drugs and Pharma, Ethics, Experts Invited, Videos | Tagged: Dr. Mark Thornton, Free Man Beyond the Wall, Mises Institute Supporters Summit, Peter Raymond | Leave a comment »

On Pre-Existing Medical Condition Pre-Valence

Posted on October 13, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

For FY 2018

By http://www.MCOL.com

***

Conclusion

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

***

Filed under: Health Economics, Health Insurance | Tagged: Pre existing conditions | Leave a comment »

On Healthcare Spending

Posted on October 10, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

For the Middle Class

[By staff reporters]

***

Conclusion

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

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Filed under: Health Insurance | Tagged: On Healthcare Spending | 1 Comment »

USA Job Creation 2019

Posted on October 9, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

At Nine [9] Months Out = Healthcare Leads

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Conclusion

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

***

Filed under: iMBA, Inc. | Leave a comment »

On the Domestic Oral Healthcare System

Posted on October 6, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

USA Perspectives

By http://www.MCOL.com

***

Conclusion

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

***

Filed under: Quality Initiatives | Tagged: DDS, dentistry, US Oral Healthcare System | 1 Comment »

A Prior Medical Authorization Survey

Posted on October 4, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

A Physician Survery

By AMA

DEFINITION: Prior authorization is a utilization management process used by some health insurance companies in the United States to determine if they will cover a prescribed procedure, service, or medication. The process is intended to act as a safety and cost-saving measure although it has received criticism from physicians for being costly and time-consuming.

***

MORE: https://apple.news/ARVNHupiLTq6pqLFEmhvS5Q

Conclusion

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

***

Filed under: Health Insurance, Quality Initiatives | Tagged: Prior Authorization, Prior Medical Authorization Survey | Leave a comment »

Racial Biases And Health Disparities

Posted on October 3, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

400 Years Since Jamestown

Dear Dr. David,

This month AJPH has a collection of papers reviewing the lasting imprint of slavery in public health, 400 years since Jamestown, and presents articles that discuss equity, nutrition and human trafficking.

Visit ajph.org for our latest podcast and these and other articles from our October 2019 issue:

Please join AJPH at our session, “Reparations: The Public Health Perspective 400 YEARS Since Jamestown” at APHA’s Annual Meeting and Expo on Monday, Nov. 4 at 8:30 a.m. Mark it on your calendar and in the meeting app.

The mission of the journal is to advance public health research, policy, practice and education. Toward that goal, the journal also produces monthly podcasts in English, Spanish and Chinese.

Be on the lookout for more timely research from AJPH, and consider subscribing or becoming an APHA member for full access.

Sincerely,

Alfredo Morabia, MD, PhD

Editor-in-chief, AJPH

@AlfredoMorabia

@AMJPublicHealth

Filed under: Ethics, Health Economics | Tagged: Health Disparities, Racial Biases | Leave a comment »

MY ADVISORY BUSINESS MODEL SYNOPSIS

Posted on October 2, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

HOW I EARN – AND YOU PROFIT!

By Dr. David E. Marcinko MBA

My fee is $250 per hour prorated, so you only pay for the time used. This fee covers almost any medical practice management, insurance and risk management, personal financial planning or investment-related topic, including document review, phone consultation, research, and written investment strategies.

I also offer a special program for first-time potential clients called a Physician Practice-Portfolio Second Opinion™. This all-inclusive $450 program takes about two hours in total and includes a pre-call document review, 60-minute phone consultation, and summary with observations and recommendations.

Docotor colleagues find this to to be a good value because their questions are answered under one fee.

So, it does not matter if you are a new, mid-career or mature practitioner, or where your money is invested or how much you have invested. Simply, I serve along side you as a fiduciary by upholding a duty of loyalty, fairness and good faith in all decision making.

At your professional service!

THANK YOU
Dr. David Edward Marcinko MBA MEd CMP™
Certified Medical Planner™
phone: 770-448-0769
MarcinkoAdvisors@msn.com

***

Filed under: Financial Planning, Investing | Leave a comment »

InVesting Temperament and Tolerance Shenanigans

Posted on October 1, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Financial Advisors Evaluating Malarkey

cropped-dem

By Dr. David E. Marcinko MBA

Courtesy: www.CertifiedMedicalPlanner.org

Evaluating “Sham” Risk Aversion Determination Methodologies

BACK STORY: You visit a local financial advisor as a prospective client. S/he gives you a form to complete that purports to discern your investing risk tolerance?

FORM: It says: “Please indicate by ranking the items below from 1 to 4, with 1 being the most descriptive and 4 being the least descriptive”.

LINK: https://medicalexecutivepost.com/2009/12/28/risk-aversion-and-investment-alternatives/

EPIPHANY: After reviewing the form, you realize it is a superfluous one-size-fits-all risk reduction mechanism for the advisor. You identify the sheer malarkey of the exercise and leave in disgust. You ruminate to yourself – “there must be a better way,”

MORE: https://medicalexecutivepost.com/2017/10/24/on-investing-risk-tolerance/

And so, colleague Rick Kahler MSFS CFP® suggests alternative methods.

MORE: https://medicalexecutivepost.com/2017/10/18/on-retirement-planning-risks/

Your thoughts are appreciated.

***

BUSINESS, FINANCE AND ECONOMICS TEXTBOOKS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Investing, Op-Editorials | Tagged: financial metrics, financial shenanigans | 1 Comment »

Medical Imaging Trends in the USA

Posted on September 26, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Circa 2000-2016

By http://www.MCOL.com

***

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE AND ECONOMICS TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Quality Initiatives | Tagged: medical imaging trends | Leave a comment »

Efficient V. Effective V. Affective

Posted on September 25, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Understand and Know the Difference

[By staff reporters]

Efficient – Performing or functioning in the best possible manner with the least waste of time and effort. The difference between effectiveness and efficiency can be summed up shortly, sweetly and succinctly right.

Effective – Produces the results you want. And that’s a very appropriate way to define effective, because we get the adjective from the noun effect—a result. It’s not too hard to remember the difference between affective and effective. You just have to use a small upside-down mnemonic device—when it comes to affective and effective, a is for emotion, and e is for action.

AFFECTIVE – Relating to moods, feelings, and attitudes.

MORE: https://www.grammarly.com/blog/affective-vs-effective/

***

Assessment – In taking into consideration resource consumption furthermore, Effectiveness is only about the output while Efficiency is about the outcome. In other words, to be effective is to “do the right things” while to be efficient is to “do things right.”.

Conclusion

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

***

Filed under: Glossary Terms | Tagged: Efficient V. Effective V. Affective | Leave a comment »

On Extreme Medical Specialty Specificty

Posted on September 24, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

The LEFT Foot Podiatrist

***

Invite Dr. Marcinko

***

Filed under: Jokes and Puns | Tagged: Medical Specialty Specificty, Podiatry jokes | 1 Comment »

On Basic Decision-Making Science?

Posted on September 20, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

DECISION-MAKING AND THE “ANALYSIS OF PARALYSIS”

Courtesy: www.CertifiedMedicalPlanner.org

Analysis paralysis or paralysis by analysis is an anti-pattern, the state of over-analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome. A decision can be treated as over-complicated, with too many detailed options, so that a choice is not made.

LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

ESSAY: https://medicalexecutivepost.com/2019/09/18/the-buridans-ass-paradox/

VIDEO: https://www.youtube.com/watch?v=9PhnHQQYprA

Your thoughts and comments are appreciated.

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: Career Development, Ethics | Tagged: Analysis of Paralysis, decision-making | Leave a comment »

Are Bonds Worth Some Excitement?

Posted on September 17, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Bonds an Investment Class Worth Some Excitement, Today?

By Rick Kahler CFP®

“One thing I definitely don’t want in my portfolio is bonds,” a prospective client told me a few weeks ago. “Bonds are boring and don’t give good returns.”

Her confidence in her money script that bonds had no place in her portfolio was palpable. However, her understanding of the role bonds play in a portfolio was incomplete. I restrained myself from launching into a lecture on the importance of bonds and simply replied, “While it is true bonds can be boring, sometimes they can be phenomenally exciting.”

Certainly stocks, commodities, and real estate investments are generally much more exciting. They are many times more volatile than bonds; in just a year it’s possible they might even gain or decline 50% in value. Meanwhile, individually held bonds and their mutual funds can crank out predictable coupon yields quarter after quarter after quarter, with one-third of the volatility of stocks. The cost of the lower volatility is that the long-term returns on bonds tend to be half to a third that of stocks.

However, the bond market right now is anything but boring. So far this year, while stocks are back to prices roughly where they were in early 2018, a sharp fall in interest rates has caused bond investors to reap some significant capital gains. Bonds have an inverse relationship with interest rates. The value of most bonds increases when interest rates decline and go down when interest rates rise.

***

Bonds

***

How significant are the gains in bonds?

Since the beginning of 2019, investors in the 30-year Treasury bond have seen gains (interest plus price appreciation) of 26.4%. That would be an outstanding full year’s return for stocks. According to the Bloomberg Barclay’s U.S. Aggregate Bond Index, long-term bonds overall have generated a 23.5% return. Investment grade corporate bonds have returned 14.1%, while the 10-year Treasury note has gained 12.6%.

Market observers have predicted for the last decade or so that bond rates have nowhere to go but up. What we’re seeing currently is a yield on the ten-year Treasury note of just under 1.47%. At the end of 2018 it was more than 3%.

Will we see more of the same? It’s very hard to imagine that same 10-year Treasury falling another 1.5%—to zero yield. So the smart money says that most of the gains have already been taken, and anybody looking for 20-plus percent returns in long bonds going forward is just chasing them after the fact when returns are dropping.

But how smart is smart?

Just in case you agree and think interest rates have nowhere to go but up, consider that many countries in Europe actually have negative interest rates, where the investor or depositor pays to loan their money to organizations or banks. Another 1.5% fall to 0% interest rates could deliver similar 20% bond returns.

Lessons Learned

The lesson here is that even if you think of bonds as the boring part of your portfolio, there are times when they can add a little more kick to your returns than you might have expected. And in times of falling equity markets, they are an invaluable buffer against big losses. Still, with the long term probability that bonds produce a return half that of equities, there is a significant chance that they won’t sustain the 20-plus percent returns as rates stabilize and increase at some point in the future.

Unlike the misinformed prospect I visited with, most investors over the age of 40 can benefit by having a substantial slice of their investment portfolio in bonds. Whether their returns are typically boring or occasionally exciting, bonds are an important asset class for diversified investors.

Assessment: Your thoughts are appreciated.

***

Filed under: Investing | Tagged: bonds, Rick Kahler CFP | 1 Comment »

“POST HOC – ERGO PROPTER HOC”

Posted on September 16, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

“POST HOC – ERGO PROPTER HOC”

Courtesy: https://lnkd.in/eBf-4vY

Post hoc ergo propter hoc (Latin: “after this, therefore because of this”) is an informal fallacy that states: “Since event Y followed event X, event Y must have been caused by event X.” It is often shortened simply to the post hoc fallacy.

Now, graduate student Paul Henne explains more in this video.

VIDEO: https://lnkd.in/eYnBVvq

MORE: https://lnkd.in/edgVes7

Your thoughts are appreciated.

BUSINESS, ECONOMICS, FINANCE AND INSURANCE TEXTS 4 DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

***

THANK YOU

***

Filed under: Ethics | Tagged: "POST HOC - ERGO PROPTER HOC" | Leave a comment »

RISK FACTORS FOR PHYSICIANS – TODAY?

Posted on September 15, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

SOME COMMON RISK FACTORS FOR PHYSICIANS

Courtesy: https://lnkd.in/eBf-4vY

• Do you and or family members drive a vehicle?

• Do you have employees?

• Do you have professional malpractice exposure?

• Do you protect medical and/or financial data?

• Are you married?

• Do you have assets not protected by a PNA?

• Do you have a current tax obligation?

• Do you have children?

• Do you own a business?

• Are you a board member, officer or corporate director?

• Do you engage in activities like hunting, flying, boating, etc?

• Do you have partners who create joint and several liabilities?

• Do you have personal guarantees on other loans?

• Do you have tail liability for professional services in the past?

• Have you made specific legal or financial representations that others have relied upon in a business context?

Assessment

Now – What kind and what dollar amount of insurance and risk management planning have you implemented against these exposures?

TEXT: https://lnkd.in/ebWtzGg

FORWORD: https://lnkd.in/ewthS3b

MORE: https://lnkd.in/esEcDAS

Your thoughts are appreciated.

BUSINESS, RISK MANAGEMENT AND INSURANCE & FINANCIAL PLANNING BOOKS FOR DOCTORS:

1 – https://lnkd.in/ezkQMfR

2 – https://lnkd.in/ewJPTJs

THANK YOU

***

Filed under: iMBA, Inc. | Leave a comment »

What are False Positive and False Negative Tests?

Posted on September 14, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Binary Test Errors

[By staff reporters]

In medical testing, and more generally in binary classification, a false positive is an error in data reporting in which a test result improperly indicates presence of a condition, such as a disease (the result is positive), when in reality it is not present, while a false negative is an error in which a test result improperly indicates no presence of a condition (the result is negative), when in reality it is present.

Assessment

These are the two kinds of errors in a binary test (and are contrasted with a correct result, either a true positive or a true negative.) They are also known in medicine as a false positive (respectively negative) diagnosis, and in statistical classification as a false positive (respectively negative) error.

A false positive is distinct from overdiagnosis, and is also different from overtesting.

Conclusion: Your thoughts are appreciated.

***

Filed under: iMBA, Inc., Quality Initiatives | Tagged: false negative, false positive | 3 Comments »

ON “PRIME”, “COMPOSITE” AND “TWIN” NUMBERS

Posted on September 13, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

ON “PRIME”, “COMPOSITE” AND “TWIN” NUMBERS

Courtesy: https://lnkd.in/eBf-4vY

[By staff reporters]

***

A “PRIME” number is greater than 1 and has no positive divisors other than 1; and itself.

A natural number greater than 1, that is not a prime number, is a “COMPOSITE” number. For example, 5 is prime because 1 and 5 are its only positive integer factors, whereas 6 is composite because it has the divisors 2 and 3 in addition to 1 and 6. ESSAY: https://lnkd.in/gJNcgad

Now, a “TWIN PRIME” is a prime that is either 2 less or 2 more than another prime number [either member of the twin prime pair [41, 43]. In other words, a twin prime is a prime that has a prime gap of two.

***

LINK: https://lnkd.in/eJNz355

UTILITY: Prime numbers are used in cyphers and codes – including credit card numbers because prime factorization is unique.

An example is Gödel’s theorem which is used to argue that a computer can never be as smart as a human being because the extent of its knowledge is limited by a fixed set of axioms, whereas people can discover unexpected truths.

LINK: https://www.scientificamerican.com/article/what-is-godels-theorem/

It also plays a part in modern linguistic theories which emphasize the power of language to find new ways to express ideas. Your thoughts are appreciated.

Assessment: Your thoughts are appreciated.

***

Filed under: Health Economics | Tagged: composite numbers, Gödel's theorem, prime numbers, twin prime numbers | Leave a comment »

Food Insecurity and Healthcare Costs

Posted on September 12, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

InfoGraphic

By http://www.MCIL.com

***

Filed under: Health Economics, Healthcare Finance | Tagged: food insecurity, healthcare costs | Leave a comment »

Protect Yourself From Scammers

Posted on September 11, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Trust with Caution

By Rick Kahler CFP

Early this year, dozens of expatriate Americans living in San Miguel de Allende, Mexico, found out that an employee of Monex Bank had emptied up to 158 accounts of some $40,000,000. Many of the customers lost their entire retirement savings. The employee had worked for the bank for 20 years. Apparently she had been siphoning off money from accounts for months and sending the depositors fake statements to cover the disappearing funds.

According to an article by David Welch that appeared in Bloomberg Businessweek on May 23, 2019, the banker had promised these depositors “fat returns” in investments that would be immune to the peso’s fluctuations. Such promises are common to many fraudulent schemes where investors are duped out of their money.

“Too good to be true”

In this case, the all too familiar scam of promising returns “too good to be true” was promulgated by an employee of an international bank with assets of $5.2 billion. Even more unusual is that while the bank said they would make their customers whole again, only one of the 158 had received all of his funds back at the time the Bloomberg article was published. A bank employee admitted that was a mistake and asked the depositor to send back a portion of the check.

One of the defrauded investors was quoted as saying, “Part of this is my fault. I wasn’t even remotely suspicious.”

Such trust is exactly what scammers and con artists rely on. The most important vulnerability they exploit is ignorance. We tend to think of financial predators taking advantage of the poor, the elderly, and the uneducated. To some extent, this is certainly true. But the poor have no monopoly on financial ignorance.

***

In order to make money from their schemes, scammers need to target people with enough money to be worth preying on. The ability to earn a lot of money and the ability to manage money wisely do not necessarily go together. The infamous Bernie Madoff, remember, cheated some wealthy and sophisticated investors out of million.

Some of the qualities that make us vulnerable to financial predators come from our own human flaws. We’d all like to believe those promises of faster, easier ways to make a lot of money or save a lot of money.

Some of our vulnerability, though, comes from our best selves. Scammers exploit our willingness to trust and even the integrity that can lead us to assume others are as honest as we are.

***

Taking action

Protecting yourself from financial predators requires being honest with yourself about the qualities that make you vulnerable. It also requires a willingness to take action to protect yourself, in several ways.

1. Acknowledge what you don’t know and ask for advice—from someone who has nothing to gain from whatever decision you make.

2. Educate yourself from neutral, reputable sources. There are countless websites, books, and classes to help you learn about investing and managing money.

3. Listen to your own feelings. If anything seems too good to be true, you probably know at some level that something isn’t right and the wise choice would be to say no.

4. Channel your inner skeptic. Any time someone offers you an incredible opportunity to make a lot of money, ask yourself what’s in it for them. Chances are they are working for themselves, not for you.

5. Pay attention. Read the fine print. Read account statements. Ask questions. If your queries are brushed aside, be willing to be that “difficult” customer who keeps asking.

Assessment

Finally, don’t be your own worst enemy. Don’t trust blindly. Don’t assume someone else will look out for your best interests. That responsibility is always up to you.

Conclusion: Your thoughts are appreciated.

***

Filed under: Information Technology | Tagged: hackers, online scams, Protect Yourself From Scammers | Leave a comment »

Hospitals to See Big Changes in Reimbursement

Posted on September 10, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

In 2020 and 2021

By Health Capital Consultants, LLC

***

Hospitals to See Big Changes in Reimbursement in 2020 & 2021

***

Hospitals are likely to see some significant changes in the way that Medicare reimburses for inpatient services in the next couple of years, according to the calendar year (CY) 2020.

***

The Inpatient Prospective Payment System (IPPS) final rule that was published on August 16, 2019, and the announcement by the Centers for Medicare & Medicaid Services (CMS) on August 19, 2019, said that it would change the quality “star ratings” system on Hospital Compare, beginning in 2021.

***

***

Filed under: iMBA, Inc. | 4 Comments »

Physician Perspectives on Price Transparency

Posted on September 9, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

The “Executive” Order

By http://www.MCOLcom

***

*******

Invite Dr. Marcinko

***

Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: Drug Price Transparency, healthcare price transparency, medical price transparency | Leave a comment »

On Injecting Elemental Mercury

Posted on September 8, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Please – Do Not Do This!

By Francisco Gutiérrez, MD., Lucio Leon, M.D. at: nejm.org

***

Submitted for your consideration. Just In case you ever wondered what injecting 10 ml of elemental mercury would do to you?

Case report: A 21 yo woman attempted suicide by injecting 10 ml (135 g) of elemental mercury (quicksilver) intravenously.

Normal AP Chest X-Ray

***

Case: She presented to the emergency room with tachypnea, a dry cough, and bloody sputum. While breathing room air, she had a partial pressure of oxygen of 86 mm Hg.

A chest radiograph showed that the mercury was distributed in the lungs in a vascular pattern that was more pronounced at the bases.

***

Assessment

The patient was discharged after one week, with improvement in her pulmonary symptoms. Oral chelation therapy with dimercaprol was given for nine months. At follow-up at 10 months she was healthy, with no serious consequences. The abnormalities on the chest radiograph were still apparent.

Your thoughts are appreciated.

***

Filed under: Career Development, Experts Invited, Risk Management | Tagged: mercury poisoning | Leave a comment »

Immigrant Public Health Practice

Posted on September 7, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

IMMIGRANT PUBLIC HEALTH PRACTICE AND JUSTICE

Dear Dr. David E. Marcinko,

This month, AJPH showcases articles on immigrant health, policy and justice.

Visit ajph.org for our latest podcast and these and other articles from our September 2019 issue:

The mission of the journal is to advance public health research, policy, practice and education. Toward that goal, the journal also produces monthly podcasts in English, Spanish and Chinese.

Be on the lookout for more timely research from AJPH, and consider subscribing or becoming an APHA member for full access.

Sincerely,

Alfredo Morabia, MD, PhD

Editor-in-chief, AJPH

@AlfredoMorabia

***

Invite Dr. Marcinko

***

Filed under: Health Economics, Health Insurance | Tagged: Alfredo Morabia, American Journal Public Health, MD, PhD, public health | 1 Comment »

Healthcare Costs for Patients with Chronic Conditions

Posted on September 5, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

And, Mental Health Disorders

By http://www.MCOL.com

***

Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: chronic care costs, mental health costs | 1 Comment »

On Quantitative Easing and Tightening

Posted on September 2, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

The Theory

[By Staff Reporters]

Quantitative easing (QE) is a monetary policy used by central banks to stimulate the economy when standard monetary policy has become ineffective.

***

Quantitative tightening (QT) is a contractionary monetary policy applied by a central bank to decrease the amount of liquidity within the economy. The policy is the reverse of quantitative easing aimed to increase money supply in order to “stimulate” the economy.

Assessment: Your thoughts are appreciated.

***

Filed under: Glossary Terms, Health Economics | Tagged: Quantitative Easing, Quantitative tightening | 1 Comment »

Five Ways to Protect Your Vehicle’s Exterior from Dings, Scrapes and Grime

Posted on September 2, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

But, Don’t be Obsessive

By Dr. David Edward Marcinko MBA with Nalley Collision Center, GA.

Some automobile owners, like me and other medical professionals, take pride in their cars. Regardless of whether you bought a new car from the showroom or bought your car used, you want to keep your vehicle looking like new for a long time.

Unfortunately, modern life is the enemy of a great-looking car. Tar and stones from roadways can wreak havoc on beautiful finishes. Other drivers can carelessly dent your car in hospital or mall parking lots, and refuse to accept responsibility for the damage. Debris flying out of trucks, birds, and other problems add to the long list of threats to your car.

The Steps

Rather than accepting dings, scrapes and grime on your car as a fact of life, follow these five steps to keep the exterior of your car looking fabulous.

1. Get Covered

Rain, snow, and sunshine can all adversely affect the exterior of your car. You can do little about the weather while driving your car, but when you get home, you can cover your car to protect its beautiful finish. Although garages offer the best protection against outside forces for your car, you might find out that you can get similar results by using a car port or a portable garage. A portable garage is a flexible cover that you can put over your vehicle to protect its exterior while not in use.

2. Paint Protection Film

Special products exist that help protect the finish of your car at all times, even while you drive. Paint protection film creates a layer of protection between the exterior surfaces of your car and the environment, so your car can withstand an array of road hazards. This type of product eliminates expensive trips to your dealer’s body shop for touchup work and preserves the resale value of your car.

3. Wash Your Car

Although a carwash can put the exterior of your car in jeopardy, it can help prevent harmful grime build up. If you care a lot for your car, you will give it a loving hand-wash, detail and wax periodically to keep its finish looking great. While you wash, you can look for new scrapes and dents that either you or your dealer can quickly repair before they become ugly and embarrassing.

4. Cautious Parking

Parking lots pose some of the most severe threats to auto exteriors. It is my pet peeve. Regardless of how carefully you park, someone else will come along and park too close to your car, giving your car a free dent. Although often minor, parking-lot damage can cost a lot to repair. Motorists these days live with the fear that a claim will cause their insurance premiums to rise, so they might not take responsibility for denting or scraping your car.

It’s time to take parking into your own hands. You can try taking up two spots when you park, making it impossible for other car doors to reach your vehicle. Also, you can park far away from other cars where most people will never park. The long walk will give you valuable health benefits, and the remote parking spot can help prevent damage to your car.

5. Common Sense

Your best defense against scrapes, dents, and grime might reside under your own hat. Common sense should tell you to avoid roads while they undergo paving line-painting work. Avoid attempting to enter narrow alleys and resist the temptation to drive up to your mailbox when you get home at the end of the day. Never drive your car near trees and bushes. Always avoid dirt or gravel roads. Also, keep your garage and carport clear of tools and other objects that can easily fall and damage your car.

###

More

Conclusion

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

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

Filed under: Insurance Matters, LifeStyle, Risk Management | Tagged: david marcinko, Jaguar, jaguar XJ-V8-L | 3 Comments »

All about Titles and University Professors in the USA

Posted on August 28, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Academic Titles are Different in Europe

By Dr. David E. Marcinko MBA

***

I’ve taught in medical, graduate and business school academia for a while now, and served as instructor, adjunct, assistant, associate and full professor in the USA and Europe. I even held chair and endowed positions. But, the precise definition of these titles has always eluded me. So, I did a bit of research to arrive at the following conclusions mingled with my personal experiences..

***

A “Professor-of-the-Practice” or P-O-P is a non-tenured person appointed to the academic staff of an American university with exceptional experiences in their “practice” (profession) and holding a terminal doctoral degree.

I’ve seen this position in medical schools and allied health care institutuions.

NOTE: In American universities, a “professor” is practically any lecturer with a doctor’s degree, whereas in most of the world the title is reserved for senior academics; including most Commonwealth Nations (United Kingdom), German-speaking nations and Northern Europe. It may also be a department head or specifically bestowed chair. A professor is a highly accomplished and recognized academic, and the title is awarded only after decades of scholarly work. In the United States and Canada the title of professor is granted to all scholars with doctorate degrees (typically Ph.D.s) who teach in two and four year colleges and universities, and used in the titles Assistant Professor and Associate Professor, which are not considered full professorship level positions elsewhere.

***

A Scholar-in-Residence can serve a university in a full-time, visiting, or part-time capacity. A full-time SIR will be provided on-campus housing and is asked to: hold 2-5 office hours/programs per week in the community. A part-time SIR will host at least 2 programs/activities during the appointment and attend appropriate community meetings.

I’ve seen this position mostly in the graduate school universe.

Finally, an “Entrepreneur-in-Residence” is a position typically held by successful entrepreneurs in venture capital firms, private equity firms, startup accelerators, law firms, or business schools. The EIR typically leads a small, early-stage, emerging company deemed to have high growth potential, or has demonstrated high growth. The university endowment fund provides the Entrepreneur-in-Residence with working capital to nurture expansion, new-product development, or restructuring of the company’s operations, management, and/or ownership.

This is likely the newest business school nomenclature iteration IMHO.

Assessment: So, how did I do with these definitions which still may vary among different colleges, universities and institutions? Your thoughts are appreciated.

***

Invite Dr. Marcinko

***

Filed under: Glossary Terms, Touring with Marcinko | Tagged: assistant professor, associate professor, chair, David Marcinko MBA, entrepreneur-in-residence, professor, scholar-in-residence | Leave a comment »

Announcing the RWJF “Live Pitch” Competition

Posted on August 27, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

For Community, Public and Population Health

[By staff reporters]

A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.

But, will investors buy in-to your vision with cash?

DEFINITION: https://www.entrepreneur.com/encyclopedia/business-plan

***

UPDATE: https://thehealthcareblog.com/blog/2019/08/26/rwjf-innovation-challenge-finalists-to-compete-live-at-health-2-0/

Assessment: Your thoughts are appreciated.

MORE: https://www.alphagamma.eu/opportunities/best-business-plan-competitions-2018/

***

Invite Dr. Marcinko

***

Filed under: iMBA, Inc. | Tagged: business plans, RWJF, RWJF "Live Pitch" Competition | Leave a comment »

On Economic Theories

Posted on August 26, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Major Schools of Thought

[By staff reporters]

***

Economics is the social science that describes the factors that determine the production, distribution and consumption of goods and services.

LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

***

And, according to Wikipedia: The term economics comes from the Ancient Greek οἰκονομία from οἶκος (oikos, “house”) and νόμος (nomos, “custom” or “law”), hence “rules of the house (hold for good management)”.

Assessment: Your thoughts are appreciated.

***

Filed under: Health Economics | Tagged: Major Economic Schools of Thought | Leave a comment »

R.I.P Liane B. Russell Ph.D

Posted on August 25, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Liane B. Russell – Age 95

Liane B. Russell, a refugee of Nazi Europe who became one of the most distinguished female scientists of her era, building a colony of more than 200,000 laboratory mice that she used to demonstrate the importance of protecting developing embryos from X-rays and other forms of radiation, died July 20, 2018 at a hospital in Oak Ridge, Tenn. She was 95 years old.

Link: https://www.atomicheritage.org/profile/liane-b-russell

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Filed under: Breaking News, Quality Initiatives | Tagged: Liane B. Russell | 1 Comment »

The History of Statistics

Posted on August 24, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

A Very Brief Review

[By staff reporters]

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DEFINITION: Statistics is the study of the collection, analysis, interpretation, presentation, and organization of data. In applying statistics to, e.g., a scientific, medical, industrial, or societal problem, it is conventional to begin with a statistical population or a statistical model process to be studied.

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LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

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Assessment: Your thoughts are appreciated.

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Filed under: Health Economics, Healthcare Finance | Tagged: History Statistics | Leave a comment »

WHY MEDICAL CORRELATION IS “STILL” NOT CAUSATION

Posted on August 23, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

WHY MEDICAL CORRELATION IS “STILL” NOT CAUSATION!

Courtesy: https://lnkd.in/eBf-4vY

CORRELATION: The degree and relationship between two variables which vary together over time. Correlation can vary from +1 to -1. Values close to +1 indicate a high-degree of positive correlation, and values close to -1 indicate a high degree of negative correlation.

CAUSATION: The”causal relationship between conduct and result”. It connects conduct with effect. Causation, often confused with correlation, indicates the extent to which two variables increase or decrease in parallel. However, correlation by itself does not imply causation. There may be a third factor, for example, responsible for the fluctuations in both variables. LINK: https://lnkd.in/eJNz355

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Assessment: Now, “correlation does not imply causation” is a phrase to emphasize that correlation between two variables does not imply that one causes the other. But – what about evidence and applications in medicine? Colleague Steve Novella explains.

ESSAY: https://lnkd.in/eEDBMrF Your thoughts are appreciated.

RISK MANAGEMENT & INSURANCE PLANNING FOR DOCTORS:

1 – “Insurance & Risk Management Strategies for Doctors” https://lnkd.in/ebWtzGg

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Filed under: iMBA, Inc., Risk Management | Tagged: causation, correlation | Leave a comment »

The Opioid Crisis Rising [2000 – 2017]

Posted on August 22, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

More Age Groups Affected

[By NIHCM]

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Invite Dr. Marcinko

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Filed under: Drugs and Pharma | Tagged: OPIOID CRISIS? | 1 Comment »

Modern New Management Theories

Posted on August 21, 2019 by Dr. David Edward Marcinko MBA MEd CMP™

Name and Theory

By staff reporters

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DEFINITION: A collection of ideas which set forth general rules on how to manage a business or organization. Management theory addresses how managers and supervisors relate to their organizations in the knowledge of its goals, the implementation of effective means to get the goals accomplished and how to motivate employees to perform to the highest standard.

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Filed under: Research & Development, Risk Management | Tagged: New Management Theories, organizational behavior | Leave a comment »

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