Why PACs Won’t Jeopardize a Hospital’s Tax Exempt Status?

Posted on August 22, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

According to IRS Private Letter Ruling

Recently, the Internal Revenue Service (“IRS”) issued a private letter ruling (the “Ruling”) that will allow the requesting tax-exempt hospital to establish and operate a social welfare organization as a means of engaging in political activities and establishing a larger presence in the political arena. The Ruling concluded that these actions will not jeopardize the hospital’s tax-exempt status under the Internal Revenue Code of 1986, as amended, (“IRC”) § 501(c)(3). Pursuant to IRC § 501(c)(3), a corporation organized and operated exclusively for religious, charitable, scientific, literary or educational purposes is exempt from federal income taxes, provided that its net earnings do not inure to the benefit of a private individual and a substantial part of its activities do not involve lobbying or related political conduct.

The Requesting Hospital

The requesting hospital is a comprehensive regional, integrated health care system that has qualified as a tax-exempt, charitable organization (the “Hospital”). Currently, the Hospital conducts an insubstantial amount of lobbying through its government affairs department (the “Department”), in an effort to improve the cost efficiency of health care services. The Ruling serves to permit the Hospital to take a more active role in the political arena, through the formation of a separate, non-profit social welfare organization (the “Organization”) that will, in turn, establish two independent political action committees (collectively “PACs”).

Social welfare organizations are tax-exempt entities that are designed to promote the general welfare of the community. See IRC § 501(c)(4). Social welfare organizations may conduct political campaign activities and establish political organizations, as long as political campaigning is not the primary activity. Reg. § 1.501(c)(4)-1(a)(2)(ii). Accordingly, in order for the Hospital to create the Organization, the IRS requires that the Organization (a) remain independent from the Hospital and (b) apply for tax-exempt status as a social welfare organization. Notwithstanding the preceding sentence, the Hospital proposed that it would remain the sole voting member of the Organization, and that the majority of the Organization’s Board of Directors would be officers, directors or employees of the Hospital. The IRS permitted the Hospital to act accordingly, provided the Hospital complied with the IRS requirements set forth in this Legal Alert, and expanded upon in the Ruling.

More on the Private Ruling

The Ruling permitted the Organization to establish two PACs for the purpose of accepting contributions from, or making expenditures to, a political candidate or party. See IRC § 527(e). As part of its analysis, the IRS concluded that the PACs, Organization and Hospital must operate independently, in order to ensure that the political activities of the Organization and the PACs would not be attributed to the Hospital and would not impact the Hospital’s tax-exempt status. To comply with the Ruling, the PACs must maintain separate bank accounts and records, as well as separate addresses and phone numbers. In addition, any leasing or sharing of employees, goods or services among the Hospital, Organization and PACs must be conducted at arms-length.

Assessment

Furthermore, the Ruling concluded that the Hospital may establish and operate a voluntary payroll deduction plan permitting Hospital employees to make political contributions through the PACs. The Ruling provided that political contributions by employees of the Hospital will not impact the tax-exempt status of the Hospital, as long as the Hospital does not influence the employees’ choices regarding contribution.

Editor’s Note

Please note that this Private Letter Ruling is limited to the facts at issue, and should not be relied upon by anyone other than the Hospital.

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Filed under: Breaking News, Health Law & Policy, Taxation | Tagged: IRS, PACS, political action committees, private letter rulings, tax-exempt hospitals | 1 Comment »

Confusing Drug Labels [Risperdal vs Requip]

Posted on August 21, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Risperidone vs Ropinirole

By Ann Miller RN MHA

[Executive-Director]

The FDA recently notified all doctors, healthcare professionals and the public of medication error reports in which patients were given risperidone (Risperdal) instead of ropinirole (Requip) and vice versa. In some cases, patients who took the wrong medication needed to be hospitalized.

The FDA determined that the factors contributing to the confusion between the two products include:

Similarities of both the brand (proprietary) and generic (established) names
Similarities of the container labels and carton packaging
Illegible handwriting on prescriptions
Overlapping product characteristics, such as the drug strengths, dosage forms, and dosing intervals.

Background

Risperidone (Risperdal) is an antipsychotic medication used to treat mental illnesses including schizophrenia, bipolar disorder, and irritability associated with autistic disorder.

Ropinirole (Requip) is a dopamine agonist used in the treatment of Parkinson’s disease and Restless Legs Syndrome.

Recommendation

Healthcare Professionals are reminded to clearly print or spell out the medication name on prescriptions and make certain their patients know the name of their prescribed medication and their reason for taking it.

Assessment

For more information visit the FDA website at:

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On the Deadliest Disease Outbreaks in History

Posted on August 21, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Black Death to Measles

From the From the Black Death to the measles, rapidly spreading diseases have taken a toll on humanity for centuries. Here’s a look at the biggest and deadliest pandemics ever.

A collaboration between GOOD and Column Five Media.

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How to Burglar-Proof Your Cash Stash?

Posted on August 20, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Avoid Burglar-Friendly Spots

Brought to you by mint.com

If the wobbly financial markets have you hoarding cash at home, beware. Yes, as a doctor, you may be safe from bear markets, but you’re still vulnerable to losses, especially if you leave your money and valuables in burglar-friendly spots.

View the image below to expand the infographic and see where you’re best off hiding your cash, according to tips gathered from a real burglar, and places where you shouldn’t put any money.

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Recruiting Medical Director

Posted on August 20, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Corvallis Clinic‏

By Judy Kliethermes

Corvallis Clinic, a large, physician-owned, multi-specialty clinic located in the heart of Willamette Wine Valley, is seeking a Medical Director. Corvallis Clinic is comprised of 82 providers located at five sites. Founded in 1947, Corvallis Clinic boasts more than 25 specialties and employs 600 medical professionals. Corvallis Clinic serves more than a quarter million people in surrounding communities and has been recognized for superior performance by the American Medical Group Association, the National Committee of Quality Assurance, and the Medical Group Management Association.

The Medical Director will be responsible for EHR implementation and enhancement, risk management, peer review and quality improvement. Additionally, the Medical Director must have experience working with LEAN and Six Sigma concepts as they relate to process improvement. The Medical Director will be charged with encouraging physician involvement and will act as a change agent for the organization.

Furthermore, the Medical Director will be the face of Corvallis Clinic and will be expected to represent the clinic in civic and community events and activities. We are seeking collaborative, patient-focused physician leaders who have strong experience leading physician-owned clinics.

Medical Director candidates must be board-certified and possess a minimum of ten years clinical experience. An MBA or MHA is preferred, but not required. The role is 80% administrative; 20% clinical.

I would welcome your interest.

Sincerely,

Cejka Executive Search
4 CityPlace Dr., Ste. 300
St. Louis, MO 63141
314.236.4429 Office
judyk@cejkasearch.com
http://www.cejkaexecutivesearch.com

Filed under: "Doctors Only", Career Development | Tagged: Cejka Executive Search, Corvallis Clinic‏, Judy Kliethermes | Leave a comment »

OCR Imposes Penalties for Employee’s Unauthorized Viewing of PHI

Posted on August 19, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

By Garfunkel Wild, PC

Early in July, the Department of Health and Human Services Office of Civil Rights (“OCR”) entered into a settlement for $865,500 with UCLA Health System (“UCLAHS”) as a result of complaints alleging that UCLAHS employees repeatedly and without permissible reason looked at the electronic protected health information (“ePHI”) of celebrity patients.

Initial Complaints

Although the complaint was initially made by only two patients, in its investigation OCR determined that from 2005-2008 unauthorized employees of UCLAHS repeatedly looked at the ePHI of numerous other patients as well. In addition to paying the settlement, UCLAHS committed to a correction action plan that includes (1) implementation of policies and procedures; (2) robust training for employees; (3) a commitment to sanction offending employees; and (4) designation of an independent monitor to assess compliance over 3 years.

Assessment

This settlement is the fourth settlement in a year and highlights OCR’s increasing enforcement of violations to HIPAA Privacy and Security Rules. Failure to have an effective HIPAA compliance program can result in significant monetary penalties, and therefore, providers and business associates alike should be evaluating their HIPAA compliance programs to ensure that appropriate safeguards are in place.

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Docs and FAs Stressed Out Over Fee Disclosures?

Posted on August 18, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Financial Services and Healthcare Industry Affected

By Dr. David Edward Marcinko MBA CMP™

[Publisher-in-Chief]

Starting April 1, 2012, financial advisors [FAs] are going to have to disclose fees for their services to retirement plan sponsors, according to changes to the ERISA rules.

But, as you may not know, advisor fees to retirement plan fiduciaries have gone unnoticed for decades because their compensation comes out of the service providers’ compensation.

Link: http://blog.registeredrep.com/yield_of_dreams/2011/08/12/stressed-over-fee-disclosure-look-to-service-providers-for-templates/

Are Medicine and the Financial Services Sector Similar?

Recently, while visiting the Wharton School at the University of Pennsylvania, and discussing same with several colleagues, I realized that this is not unlike medical provider fees which are typically paid for by a private or public third party insurance-like carrier. Historically, relatively covert to patients, but not so much today!

For example, in 2007, federal and state legislatures called for hospitals across the country to make their prices “transparent.” The term was defined as the full, accurate, and timely disclosure of hospital charges to consumers of healthcare, as well as the process employed to arrive at those fees.

Moreover, transparency does not merely involve publishing a list of prices and fees. Essentially, hospital CXOs must be able to present their prices in a manner that is understandable to the general public and they must be prepared to explain the rationale behind their charges.

And, for the solo or small group medical practitioner, dentist, retail or direct care practice, is this a trend that is growing or declining?

Assessment

So, where are fees for FAs, under the above scenario, headed. We know the answer for doctors, of course, buy why are the FAs so fretful? Is it because they fear a healthcare-like meltdown disaster?

And, why would any vendor [doc or FA] fear letting the customer / patient know the price of his products or services? Aren’t there many companies who are a huge success, following just this business model; retail / wholesale anyone? Why fear telling folks what you charge?

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America’s One-Stop Shop for Healthcare [HIEs]

Posted on August 16, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Health Insurance Exchanges [HIEs]

Brought to you by ACS a Xerox Company

For some Americans, selecting a health insurance plan will soon feel a bit like shopping. As part of healthcare reform, each state is required to have a Health Insurance Exchange (HIE or HIX) in operation by Jan. 1, 2014.

Given the complexity of the topic, we’ve created the attached infographic that visually represents the process Americans will experience when participating. If you’re planning to write about HIXs in the near future – we hope you’ll consider using this graphic to help explain the process to your readers.

Here is additional information on HIXs to support the infographic:

Q: How will states develop a HIX? A: States can either build their own HIX structure or buy a platform from the federal government.
Q: Who can participate in a HIX? A: Only individuals without other coverage, individuals from whom coverage is unaffordable or inadequate, or small employers can participate in the exchange in 2014. Large employers can join the exchange in 2017.
Q: How many people are expected to participate? A: The Exchanges are expected to cover as many as 29 million people by 2019, including five million with employment-based coverage.

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Medicare and the Budget Control Act’s Joint Select Committee

Posted on August 15, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Creating Spending Reductions for the Next Decade?

By Children’s Home Society of Florida Foundation

Under the compromise between President Obama and leaders of the House and Senate, the Budget Control Act of 2011 created spending reductions of over $900 billion during the next decade. The bill also requires leaders of the House and Senate to appoint members to a Joint Select Committee. The committee has three Republican, three Democratic Senators, three Republican and three Democratic Representatives.

House and Senate leaders have now appointed the committee members. The 12 committee members are tasked with creating a $1.5 trillion budget solution by Thanksgiving. Their bill will be voted on without amendments by December 23, 2011.

If the committee is not able to develop and pass a bill by Dec. 23, there will be $1.2 trillion in budget cuts. Half of the cuts will come from the Department of Defense and one-half will be reductions in payments to Medicare providers.

Majority Leader Harry Reid (D-NV) appointed three Senators. The Co-Chair of the Joint Select Committee will be Sen. Patty Murray (D-WA). His other two appointees are Sen. John Kerry (D-MA) and Sen. Max Baucus (D-MT). Sen. Kerry is Chair of the Senate Foreign Relations Committee and Sen. Baucus is Chair of the Senate Finance Committee.

Republican Leader Mitch McConnell (R-KY) appointed Sen. John Kyl (R-AZ), Sen. Pat Toomey (R-PA) and Sen. Rob Portman (R-OH). Sen. Kyl is the Republican Whip and a senior member of the Finance Committee. Sen. Toomey is a member of the Budget Committee. Sen. Portman was previously Director of the Office of Management and Budget.

Speaker John Boehner (R-OH) appointed Rep. Jeb Hensarling (R-TX) as Co-Chair of the committee. His other appointments are Rep. Dave Camp (R-MI) and Rep. Fred Upton (R-MI). Rep. Camp is Chairman of the Ways and Means Committee and Rep. Upton chairs the Energy and Commerce Committee.

Democratic Leader Nancy Pelosi (D-CA) appointed Rep. James Clyburn (D-SC), House Ways and Means Member Xavier Becerra (D-CA) and Budget Committee Member Chris Van Hollen (D-MD).

The Joint Select Committee is expected to initiate meetings in September after Congress returns from the August recess.

Editor’s Note: There will undoubtedly be a spirited debate. All of the twelve committee members will want to avoid drastic budget cuts for the Department of Defense or Medicare providers. The group will need to discuss potential cuts in discretionary expenditures, defense and entitlements. With the appointments of key taxwriters Baucus and Camp, it is clear that taxes will also be a part of the discussion. Whether or not there are tax increases as part of the budget solution remains to be seen.

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Why do so many people refuse vaccinations for their kids?

Posted on August 14, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Why do so many people refuse vaccinations for their kids? The biggest reason is a false notion that there’s a link between vccinations and autism.

By not vaccinating their children, though, they open the doors to a wide range of diseases for their entire community.

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How to Take Care of Your Eyes

Posted on August 13, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

In celebration of National Eye Health Week we at Ultralase have immersed ourselves in the world of vision in order to produce this handy graphic containing facts and tips to help encourage you, and the rest of the world to Love Your Eyes. Brought to you by www.ultralase.com

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Which pop culture nurse will be helping you today?

Posted on August 12, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Many of us grow up with a role model-some person, real or fictional, that embodies the values we hold dear, and symbolizes the person we’d like to become.

Future basketball players have Michael Jordan. Future politicians have Barack Obama. Future crime fighters have Batman.

We nurses, however, have a smaller pool of heroes to choose from- but quantity does not mean quality, and the few that we have are stellar: from Florence Nightingale, the veritable nursing archetype that all nurses would eventually seek to emulate, to Gaylord Focker, a more modern but no less stalwart tribute to the perseverance and fortitude needed by any man or woman who enters the profession.

Nurses are only half of the equation, however. The patients we care for are the reason the nursing profession exists in the first place, and the people we’d ideally like to become are the same people our patients would ideally like to have caring for them at the hospital. Step into the shoes of a patient for a few minutes, and follow the flowchart to find out which pop culture nurse will be caring for you in your time of need.

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The Sick Cost of Medical Paperwork – Maybe?

Posted on August 11, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

[By Staff Reporters]

If there’s one thing Americans can agree upon 100%, it’s that the cost of helath care is completely insane. Costs are far higher in theUSthan in any other industialized nation, and even health care reform hasn’t been able to reel them in yet.

But, where is all the money going, exactly? Hundreds of billions are going straight into the paper shredder. Brought to you by Medicaltranscription.net

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What Does the S&P Downgrade Mean?

Posted on August 10, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

If France Is Rated Higher Than the US!

By Marian Wang
ProPublica, Aug. 8, 2011, 5:38 p.m.

The decision by credit rating agency Standard & Poor’s to downgrade the United States [1] after markets closed on Friday may have kicked up political [2] consternation [3] and triggered a market plunge [4], but it also raises important questions about the reliability of credit ratings and, for that matter, the firms that bestow them.

Just over a dozen countries currently have an AAA [5]—or lowest-risk—rating from each of the three main rating agencies: Moody’s, Fitch, and Standard & Poor’s. Until this weekend, the United States was among them. (It’s now roughly on par with Australia, which also has two AAAs and one AA+.)

So, which countries are among the lucky few that still have perfect ratings from all three firms? The United Kingdom and France, just to name a couple. S&P apparently thinks that both the U.K. and France are safer investments than the United States.

The United States still has a higher per-capita GDP [6] than most countries, including both the U.K. and France. Last year, the U.S. GDP grew 2.9 percent [6]—almost double the U.K.’s 1.4 percent and France’s 1.5 percent. Between April and June of this year, the U.S. GDP grew 1.3 percent [7] while the U.K. economy grew 0.2 percent [8]. A June forecast from the Bank of France estimated that the country’s economy would grow 0.4 percent [9] in the second quarter. (U.S. growth, granted, is still slower than it used to be [10].)

As a percentage of GDP, both the U.K. and France have a higher percentage of external debt [11], or debt owed to outside bondholders. In 2010—the latest year for which the Organization for Economic Cooperation and Development has numbers—U.S. external debt was 61 percent of GDP, compared to France’s 67 percent and the U.K.’s 86 percent. Austria also maintains a lowest-risk rating from all three firms, and its external debt was 66 percent of GDP last year.

Let’s not forget unemployment. Our July 2011 unemployment rate figure was 9.1 percent [10]. That’s higher than the U.K.’s, which has hovered around 7.7 percent [6], but it’s lower than France, which had 9.7 percent unemployment in June.

S&P, in explaining the historic downgrade—the first in U.S. history—cited both the U.S. debt burden and the political brinksmanship over the debt ceiling as reasons it lowered the credit rating of the United States to AA+, with a negative outlook.

So, what do the ratings mean, really? It seems to be a question that economists and investors are asking, too.

“France is not, in my view, a AAA country,” a UBS economist told Bloomberg [12]. And yet there are no indications [13] that France will face a downgrade, the Wall Street Journal reports. In fact, all three of the rating agencies recently affirmed France’s triple-As [12].

Credit rating agencies have taken a collective hit to their reputations for issuing flimsy triple-A credit ratings on securities that collapsed and helped trigger the financial meltdown. A Senate investigation earlier this year identified the firms as “a key cause [14]” of the financial crisis. Documents released by congressional investigators also pointed to serious conflicts of interest [15] that caused some ratings firms to bend to the wishes of the banks that paid for their ratings.

Assessment

As we’ve written, some of the same problems with company culture [16] and inaccurate ratings [17] have persisted. Meanwhile, the Office of Credit Ratings—an office created by Dodd-Frank, the financial reform bill, to oversee these firms—hasn’t even been set up because Congress didn’t allocate funds for it. Other efforts written into the measure to lessen U.S. reliance on ratings and open up the firms to more liability have been slowed or stalled altogether.

Wiping out the references to credit ratings in U.S. law is a “harder task than the legislation assumes,” said Barbara Roper, director of investor protection for the Consumer Federation of America. The downgrade, she thinks, may provide just enough impetus to keep those efforts moving.

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Filed under: Experts Invited, Investing | Tagged: Marian Wang, ProPublica, S&P US credit downgrade, Standard & Poor’s, US GDP | 4 Comments »

Hospitals Slowly Affiliating with RBACs

Posted on August 9, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

The Rise of Role-Based Access Controls

By Dr. David Edward Marcinko MBA CMP

Last month I visited the University of Pennsylvania in Philadelphia. Of course, I graduated from Temple University myself and worked as an admissions clerk in the ER, back in the day.

There I learned that some local hospitals are affiliating in role-based access control (RBAC) electronic networks by controlling which patients, medical providers or health plans have access based on the needs of patients, payors, physicians, or insurers. User, doctor, and patient rights and services are then grouped by name, and access to medical resources is restricted to only those authorized.

The technology was first pioneered and used in London hospitals several years ago.

Example:

For example, when an RBAC network system is used by a hospital, each individual that is allowed access to the hospital’s network would have a pre-defined role (doctor, nurse, lab technician, administrator, patient, etc.).

If someone is defined as having the role of doctor, for example, then that user can access only resources of the healthcare network that the role of doctor has been allowed access to (electronic medical records, for example).

If another user has access as a diabetic patient, then that user cannot access unapproved health services, like OB-GYN. Each user is assigned one or more roles, and each role is assigned one or more privileges for users in that role.

Assessment

Link: http://www.computerweekly.com/Articles/2007/10/19/227566/How-to-implement-role-based-access-control.htm

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Filed under: Information Technology, Practice Management | Tagged: electronic medical records, EMRs, health information technology, healthcare network, RBACs, role-based access control | Leave a comment »

Things You Didn’t Know About Death

Posted on August 8, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Not a Unique Experience

Death is an experience that we’re all going to have at one point or another. Why not take a few minutes to learn some interesting and some truly bizarre facts about death, dying, and the dead? Brought to you by medicalinsurance.org

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Filed under: Ethics, Insurance Matters | Tagged: bizarre facts about death, cadavers, corpse, dead, dying, Estate Planning, life insurance, Risk Management | 11 Comments »

USN&WR – Meet the ADA President

Posted on August 7, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Dr. Raymond Gist

By Kellus Pruitt DDS

I just found a US News Health article by Angela Haupt titled, “The Era of Electronic Medical Records.”

http://health.usnews.com/health-news/most-connected-hospitals/articles/2011/07/18/most-connected-hospitals?PageNr=1

Even though dentistry wasn’t mentioned even once, I took liberties with the comment I posted. Besides, dentistry is never mentioned anywhere in the healthcare press, and that’s just not healthy. That is the point I hope I got across to Angela Haupt when I suggested she become Dr. Gist’s 7th Facebook friend.

Dear US News and World Report:

Last year, President Barack Obama promised that digitizing America’s health records will go beyond just improving care. He said transforming from paper to digital is a “panacea for the economy.” Somehow, illness became a renewable national resource.

I’m pretty sure neither the President nor US News have a clue about the business of dentistry.

Defying your common, misinformed bias for EHRs over paper records, here is a bite of reality from a dentist who actually treats patients: Other than me, the nation’s other 170,000 dentists are stone-silent about adoption of electronic dental records. Don’t you find that odd? What’s more, stakeholders inside and outside the American Dental Association, including even software vendors, avoid public discussions of EDRs. Dr. Oz’s Sharecare.com won’t even touch the topic. Why?… a reporter might ask.

Do you trust that the widely-respected ADA always represents first and foremost the safety of dental care for both dentists and their patients? Let me fix that for you: ADA President Dr. Raymond Gist recently opened a Facebook, and two days ago, I was fortunate enough to be his second fan and the first to post a comment.

https://www.facebook.com/pages/Raymond-F-Gist/165275266868843

I took advantage of an unprecedented opportunity to speak directly to a vetted ADA official and asked the President, “Are electronic dental records more or less dangerous for dentists and patients than paper records?” I’m disappointed that Dr. Gist still has not responded. Why did he even bother opening a Facebook, one might ask.

Here’s what I think:

Because of the cost and safety issues with digital records that I warned each ADA President about since 2006, EDRs, and especially HIPAA, have become so difficult to defend in a free-market that nobody even tries any more. I think a handful of ADA leaders expected pigs to fly much sooner than this.

Assessment

Want to do some real reporting, US News? Become Dr. Raymond F. Gist’s 7th Facebook fan and ask him on behalf of your publisher if EDRs are safer than paper dental records. Sure. It’s unconventional, and as far as journalism goes, it’s kind of kinky to post a question on someone’s Facebook. Nevertheless, it could be fun to watch a USN&WR reporter be treated with the same level of respect ADA officials offer dues-paying members.

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Filed under: Information Technology, Pruitt's Platform | Tagged: ADA, Angela Haupt, DDS, dentists, Dr. Raymond Gist, eDRs, EHRs, EMRs, Kellus Pruitt DDS, The Era of Electronic Medical Records | 4 Comments »

Events Planner: August 2011

Posted on August 6, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

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Events-Planner: AUGUST 2011

By Staff Writers

“Keeping track of important health economics and financial industry meetings, conferences and summits”

Welcome to this issue of the Medical Executive-Post and our Events-Planner. It contains the latest information on conferences, news, and relevant resources in healthcare finance, economics, research and development, business management, pharmaceutical pricing, and physician/entity reimbursement! Watch for a new Events-Planner each month.

First, a little about us! The Medical Executive-Post is still a relative newcomer. But today, we have almost 175,000 visitors and readers each month from all over the country, in addition to our growing subscriber base. We have been a successful collaborative effort, thanks to your contributions. As a result, we are adding new resources daily. And, we hope the website continues to provide the best place to go for journals, books, conferences, educational resources, tools, and other things you need to establish the value your healthcare consulting and financial advisory intervention.

So, enjoy the Medical Executive-Post and this monthly Events-Planner with our compliments.

A Look Ahead this Month – And now, the important dates:

August 15-18: National Quality Colloquium at Harvard, Cambridge, MA

Please send in your meetings and dates for listing in the next issue of our Events-Planner.

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Filed under: Events-Planner | Tagged: events-planner August 2011 | Leave a comment »

On Single Unit Surgical Centers

Posted on August 5, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Proposed Registration and Licensure Requirements

By Garfunkel Wild, PC

Legislation enacted on March 23, 2009 required single suite surgical facilities that are conducted by surgical practices (the “Surgical Practices”) to register with the New Jersey Department of Health and Senior Services (“NJDHSS”) by September 17, 2009, and prohibited registration of new Surgical Practices. However, registration requirements were not implemented or enforced. Previously, Surgical Practices were regulated by the Board of Medical Examiners. The proposed regulations intend to set forth both registration and regulatory requirements for existing Surgical Practices, but preserve the statutory moratorium on new Surgical Practices.

New Jersey Department of Health and Senior Services

Surgical Practices that are in operation on the effective date of the proposed regulation must register with the NJDHSS or cease operations no later than ninety (90) days from the effective date. A Surgical Practice that has not commenced operation by the effective date but has filed specifications and/or other required building or zoning documents with the municipality in which the Surgical Practice will be located must register with the NJDHSS prior to commencing operations. All Surgical Practices to be registered in the future must register within two (2) years of receiving approval from the municipality in which it will be located. Registration will be valid for one year and will be subject to annual renewal. Along with the renewal application, the registrant would be required to submit a copy of its certification from the Centers for Medicare and Medicaid Services (“CMS”) or other documentation of accreditation. In the event that a Surgical Practice fails to maintain such certification or accreditation, the registration would lapse.

The proposed regulations would also provide for standardized requirements for the transfer of ownership and relocation of all Surgical Practices. Importantly, a Surgical Practice would be permitted to apply for approval of a transfer of ownership by submitting a completed registration application at least ninety (90) days prior to the planned transfer of ownership. Additionally, a registered Surgical Practice would be permitted to relocate within twenty (20) miles after submitting certain documentation set forth in the regulations. A relocated Surgical Practice would not be permitted to expand the scope of services at a new location.

New Legislation

In addition, legislation has been introduced which would go further than the proposed regulations and require all Surgical Practices in operation as of the date of enactment to become licensed by the NJDHSS as ambulatory care facilities licensed to provide surgical services within one year of the effective date. Such Surgical Practices would be exempt from the ambulatory care facility assessment. In addition, the moratorium on new ambulatory care facilities would remain in effect.

Assessment

If this legislation is enacted, the NJDHSS would not issue new registrations for Surgical Practices after the effective date. However, a registered Surgical Practice may transfer ownership or relocate after the effective date if it becomes licensed as an ambulatory care facility prior to applying for a new license. Surgical Practices would be required to obtain ambulatory care accreditation from an accrediting body recognized by CMS as a condition of licensure.

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Filed under: Health Law & Policy, Practice Management | Tagged: ASC, Garfunkel Wild, Surgical Centers | Leave a comment »

Continued Barriers and Issues with eHRs

Posted on August 4, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

More on the electronic documentation of medical information

By Carol S. Miller BSN, MBA, PMP

Many providers of health care are moving forward with electronic medical records [eMRs] and documentation of related information.

However, there are still significant perceived and real barriers impacting some doctors and practitioners of care in moving forward with this process.

Here’s why in four brief points:

High Start-up Cost is probably the foremost barrier or concern of providers. The EHR product, hardware, initial and annual software license, training both initially during implementation and ongoing, and other peripherals, and the follow on module updates, maintenance, and/or replacements are all associated with a cost that can be quite an expensive proposition especially to a small provider practice.
Loss of productivity does occur as the staff and providers learn the new system and associated process changes in day-to-day operation.
There are many EHR products in the marketplace. Providers are faced with decision points on which vendor system to purchase and the degree of modules needed to successfully support the clinical work within that practice. In general, technical integration such as uncertain quality of system purchased, functionality issues, lack of integration with other applications and other like issues can impact a smooth transition to EHRs and actually create more problems and cost than the existing process in place. In addition, incompatibility between systems (user interface, system architecture and functionality) can vary between suppliers’ products.
Certification, security, ethical matters, privacy and confidentiality issues are still a high concern. The increased portability and accessibility of electronic medical records may increase the ease with which they can be accessed and stolen by unauthorized persons or unscrupulous users. Even today large-scale breaches in confidential records occur and others can easily happen whena more integrated connectivity exists between systems, providers, hospitals, and wireless devices. Continued concerns about security contribute to the widespread adoption of EHRs still are pervasive in the provider community. Still lingering is the privacy concern and the adequate protection of individual records being managed electronically. As an example, with an electronic record in a hospital setting, there can easily be over 100 individuals from doctors, nurses, technicians, admissions, quality control, billing staffing and many more who have access to at least part of a patient’s record during an average hospital stay. In addition, there are multiple individuals at payers, clearinghouses, research firms, and others that have access to patient information at any given time.

Order Book Now [more from this author]

Healthcare Organizations” [Management Strategies, Tools, Techniques and Case Studies].

In-Process from: (c) Productivity Press 2012

http://www.crcpress.com/product/isbn/9781439879900

About the Author

Carol S. Miller has an extensive healthcare background in operations, business development and capture in both the public and private sector. Over the last 10 years she has provided management support to projects in the Department of Health and Human Services, Veterans Affairs, and Department of Defense medical programs. In most recent years, Carol has served as Vice President and Senior Account Executive for NCI Information Systems, Inc., Assistant Vice President at SAIC, and Program Manager at MITRE. She has led the successful capture of large IDIQ/GWAC programs, managed the operations of multiple government contracts, interacted with many government key executives, and increased the new account portfolios for each firm she supported.

She earned her MBA from Marymount University; BS in Business from Saint Joseph’s College, and BS in Nursing from the University of Pittsburgh. She is a Certified PMI Project Management Professional (PMP) (PMI PMP) and a Certified HIPAA Professional (CHP), with Top Secret Security clearance issued by the DoD in 2006. Ms. Miller is also a HIMSS Fellow, Past President and current Board member and an ACT/IAC Fellow.

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Filed under: Information Technology | Tagged: Carol Miller, EHRs, EMRs, Issues with eHRs | 13 Comments »

Healthcare Associated Infections [HAIs]

Posted on August 3, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

The Unknown Killer

Each year, Healthcare Associated Infections (HAIs) affect millions of patients and add billions of dollars to healthcare costs in the U.S. GE’s Healthcare division is aggressively working to find ways to address this issue and prevent the widespread occurrence of HAIs in the future.

GE and JESS3 partnered to create an infographic which visualizes several statistics related to the spread of HAIs such as the number of people who die of HAIS in the US annually, the staggering number of people who are affected by HAIs annually and the incredible cost it creates per patient and to the healthcare system. By laying out the complex numbers in this sharp and colorful graphic, GE hopes to raise awareness about the widespread problem which scientific evidence suggests could often be preventable.

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Filed under: "Doctors Only", Breaking News, Research & Development | Tagged: HAIs, Healthcare Associated Infections, hospital acquired infections, nosocomial infections | 36 Comments »

A New Take on Accounts Receivable [AR] Factoring for Doctors

Posted on August 2, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Understanding How Medical Practice Business Factoring Works

AR factoring is a financial transaction whereby a business, like a medical practice, sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount in exchange for immediate money with which to finance continued business.

Factoring differs from a bank loan in three main ways.

First, the emphasis is on the value of the receivables (essentially a financial asset), [1][2] not the firm’s credit worthiness.

Second, factoring is not a loan – it is the purchase of a financial asset (the receivable).

Finally, a bank loan involves two parties whereas factoring involves three.

Factoring: ARs 1

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Filed under: Funding Basics, Practice Management | Tagged: accounts receivable, AR factoring | 1 Comment »

Benchmarks of Health Plan Administrative Costs

Posted on August 1, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

2011 Edition‏

[By John Park]

Recently, we began the release of our fourteenth annual edition of administrative performance benchmarks for health plans. It is the culmination of 515 health plan years of experience with all major sectors of the health plan industry. The attached brochure briefly describes our 2011 benchmarks.

First Universe Release

The first universe to be released was comprised of data of Blue Cross Blue Shield plans. Nearly 70% of all Blue Cross Blue Shield licensees participated this year. A summary of the results for this universe is here:

http://www.sherlockco.com/docs/navigator/Navigator%20July%2011.pdf.

Results

In short, per member administrative expenses increased by only 1.0% in 2010 and only 1.8% when you adjust to back out changes in product mix.

This growth rate is very low by any standard.

Sherlock Company’s Benchmarks

Between the MLR provisions of the Accountable Care Act, which are intended to “create incentives for” health plans” to become more efficient,” and a weak overall economy, health plans face greater pressure to optimize their administrative costs. Sherlock Company’s benchmarks of administrative expenses enable your plan to quickly determine whether it is operating at best practice and to identify which functional areas provide the highest return on management’s efforts to improve performance.

Accordingly health plans serving more than one-half of all insured Americans are users of our benchmarks.

Assessment

Additional information can be found at http://www.sherlockco.com/seer.shtml

Sherlock Company

Douglas B. Sherlock, CFA

Senior Health Care Analyst

sherlock@sherlockco.com

Ph: 215-628-2289

Fax: 215-542-0690

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Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: Accountable Care Act, Benchmarks of Health Plan Administrative Costs, Blue Cross Blue Shield Plans, Douglas B. Sherlock, John Park, Sherlock Company | 2 Comments »

About Google’s Product Graveyard

Posted on July 31, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Launching Google +

We all know about the demise of Google Health, as well as the new Google+ initiative. So, this post is by no means a prediction about Google+.

In fact, if the initial reviews (which are mixed but with some heavy hitters buying in pretty big) then maybe, just maybe, this list won’t include the latest social effort from the search giant.

For now though, it is interesting to see just how much experimentation the Goog has done and they haven’t been afraid to fail – even entering the healthcare arena!

And, to show the continued pace of product flameouts, just this past weekend Realtime Search was shelved (it is supposed to be back we just don’t know when) and now Wonder Wheel meeting a more permanent fate.

Brought to you by Wordstream.com via Marketingpilgrim.com

Assessment

More info: http://thehealthcareblog.com/blog/category/tech/

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FINANCE: Financial Planning for Physicians and Advisors
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Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Filed under: Information Technology, Research & Development | Tagged: google, Google Health | 14 Comments »

What is Post-Traumatic Stress Disorder [PTSD]?

Posted on July 29, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Research indicates early intervention after a traumatic event can reduce the symptoms of post-traumatic stress disorder (PTSD).

That’s why the more we know about PTSD, the more effective we can be as medical professionals and social workers to help people overcome and cope with this mental health condition.

Brought to you by www.msw.usc.edu

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Filed under: Military Medicine | Tagged: Post-Traumatic Stress Disorder, PTSD | 3 Comments »

Xerox Survey Shows Impact of Electronic Health Records

Posted on July 28, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

[By Staff Reporters]

Patients are unclear on the impact of Electronic Health Records (EHRs) and cite security as a top concern, according to a recent survey conducted for Xerox.

Providers must focus on patient communication to explain benefits of EHRs as the country transitions from a paper-based system to digital as part of national healthcare reform.

Brought to you by Xerox

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Filed under: Information Technology | Tagged: EHRs, electronic health records, eMRs Xerox, Impact of Electronic Medical Records, national healthcare reform | 6 Comments »

The ACO Prescription?

Posted on July 27, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Cure or Disease?

Accountable Care Organizations are the ACA’s [Obamacare] answer to skyrocketing Medicare costs, but who wins besides the government? Doctors take on the financial risk, and patients could suffer as a result.

Here’s a look at how Accountable Care Organizations could affect the quality of healthcare in the near future. Brought to you by gplus.com

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FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: "Doctors Only", Health Economics, Managed Care, Practice Management | Tagged: ACA, Accountable Care Organizations, ACOs, ObamaCare | 11 Comments »

Understanding US Health Care Spending

Posted on July 26, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Dear ME-P Colleagues,

Nancy Chockley, President and CEO

The NIHCM Foundation is pleased to announce the release of a new data brief, Understanding U.S. Health Care Spending.

In it, we examine why we spend more than $8,000 per person on health care and the factors driving spending growth. Our analysis documents the extreme concentration of expenditures, with just 5 percent of the population responsible for almost half of all spending, and demonstrate the importance of rising spending for hospital and physician services as the primary drivers of expenditure growth.

Findings are based on NIHCM analysis of the most recent data from the National Health Expenditure Accounts and the Medical Expenditure Panel Survey.

We hope that you find this publication helpful for your own work.

Sincerely,
Julie Schoenman [Director of Research and Development]

Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: Julie Schoenman, Nancy Chockley, NIHCM Foundation, Understanding U.S. Health Care Spending., US Health Care Spending | Leave a comment »

The [Gold] Commodity Concern Bubble

Posted on July 25, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Are We Looking At Another Bursting Bubble?

Financial Advisors [FAs], doctors and all investors know that gold [and some other commodities] are at an all time high!

So, here’s a look at some of the most striking commodity rises over the last decade, and which ones have crashed in 2011. Brought to you by Focus.com

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

Filed under: Investing | Tagged: commodities, gold, metal bubbles, silver | 13 Comments »

Safe Online Banking Tips for Doctors

Posted on July 24, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

And …. Us All

With 59% of us banking online and given the steady stream of news about security breaches exposing millions of account numbers and personal info, here’s an infographic on the importance of secure online banking.

According to the results of a 2011 JustAskGemalto.com poll, 48% of consumers do not know the steps their bank may or may not have taken to keep them secure while banking online. As online banking continues to become more widespread, more and more of us are potentially at risk for online attack. Brought to you by JustAskGemalto.com

Conclusion

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Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

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Filed under: Alerts Sign-Up, Funding Basics | Tagged: digital banking, online banking, retail banks | 1 Comment »

The Real Cost of Social Media for Doctors and FAs

Posted on July 23, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Important Information for Medical and Financial Services Professionals

With social media at the height of it’s popularity, advertisers and companies find it an easy and trendy means of expanding their marketing campaigns. Brought to you by focus.com!

Conclusion

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Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Information Technology, Practice Management | Tagged: Cost of Social Media | 4 Comments »

Raise the Roof [A Look at the U.S. Debt Ceiling]

Posted on July 22, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

How the National Debt Affects You

The Debt Ceiling and its’ impact on World Markets! Brought to you by mint.com in collaboration with columnfivemedia.com

Conclusion

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Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

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Filed under: Accounting, Taxation | Tagged: U.S. Debt Ceiling | 3 Comments »

[Health] Plan Management Navigator

Posted on July 21, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

For July 2011

By Douglas B. Sherlock, CFA

Please find attached below the July 2011 Edition of Plan Management Navigator. In this month’s edition, we summarize the administrative cost trends of Blue Cross Blue Shield Plans participating in our recently completed benchmarking study. The 27 plans, nearly 70% of total Blue plans, collectively serve 38.3 million members with comprehensive products.

Results

The median administrative expense ratio for this peer group in 2010 was 9.2%, down from 9.7% in 2009, 9.9% in 2008 and 10.4% in 2007.

While per member Sales and Marketing cost trends increased, Corporate Services costs decreased. Provider and Medical Management and Account and Membership Administration cost growth, per member, sharply declined.

Managed Expenses

Health plans are heavily committed to the management of administrative expenses. To adapt to the weak economic environment, they are taking steps to assure that the effects of premium rate pressures and enrollment weakness do not amplify reductions operating profits. They do this by not treating their administrative expenses as substantially fixed. In addition, the Patient Protection and Affordable Care Act’s increased scrutiny of premium rates, and enforcement of medical cost minimums (relative to premiums), elevates administrative expense control as the central aspect of managerial discretion.

Assessment

Link: Navigator July 11

Conclusion

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Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

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Filed under: Health Economics, Health Insurance, Healthcare Finance | Tagged: CFA, Douglas B. Sherlock, Plan Management Navigator | Leave a comment »

“Springing” and “Suspending” Advanced Medical Directives

Posted on July 20, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

On Well-Know and Little-Know Provisions

By Dr. David Edward Marcinko MBA CMP™

www.CertifiedMedicalPlanner.org

Financial Advisors and attorneys are well aware of various “immediate” and “springing legal directives”, such as springing power of attorney, springing living wills, etc.

“Springing” Advanced Directives

But, what about springing advanced medical directives? Yep! These too not only spring into place, when needed, but can also be suspended?

For example, suspension of advanced medical directives during surgical procedures is possible. But, once out of surgery [time-limited], they would immediately spring back into effect!

Assessment

Financial Advisors, clients and patients should know – and inquire – about the exact time-frame of springing medical directives and related suspensions.

Learn More:

http://www.latimes.com/health/la-he-health-411-20110613,0,62844.story

Conclusion

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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
BLOG: www.MedicalExecutivePost.com

Filed under: Estate Planning, Ethics | Tagged: Advanced Medical Directives, Dr. David Edward Marcinko MBA CMP™, living wills, springing legal directives, www.certifiedmedicalplanner.com | 3 Comments »

How Many Children Could Loose Healthcare?

Posted on July 19, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Perhaps 15-18 Million of Them

By Voices for America’s Children

No matter how you slice it, the House budget plan leaves millions of children uninsured.

Assessment

Here’s what the Medicaid cuts would mean for children by 2021.

Conclusion

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Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

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Filed under: Health Insurance, Healthcare Finance | Tagged: Children and healthcare, SCHIPS, Voices for America’s Children | 2 Comments »

Join the One-Click Movement for DWB

Posted on July 18, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

header

Imagine that you could improve the lives of millions with just a click of a mouse!

You can. And it costs you nothing

One click can help millions around the world

Every new healthcare professional who creates a free account on www.physicianspractice.com will trigger a donation of $10 to the international organization Doctors Without Borders/ Médecins Sans Frontières (MSF) – a non-profit delivering emergency medical assistance in nearly 60 countries to people affected by armed conflict, epidemics, malnutrition, natural disasters, or exclusion from health care. It’s one way of promoting global social good for doctors caring for those in desperate need.

The goal is to donate $25,000 – enough for vaccinations for 25,000 people against meningitis, measles, polio or other deadly epidemics.

One click improves the care of patients in our local communities

As a leader in providing highly respected and valued content and services to health care professionals in this country, the site provides free content that helps medical practitioners become better, more effective and knowledgeable in the latest discoveries.

In addition to the donation, your click will grant you access to free, timely content from www.physicianspractice.com to help keep you on the cutting edge of practice management and healthcare reform.

One click starts the movement – together we can help save lives

Conclusion

Source: http://www.physicianspractice.com/1c4m

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Practice Management: http://www.springerpub.com/product/9780826105752

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Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

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Filed under: "Doctors Only", Ethics, iMBA, Inc. | Tagged: doctors without borders, dwb, one-click-movement, www.physicianspractice.com | Leave a comment »

About The Healthcare Blue Book

Posted on July 17, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

A Free Consumer Guide to Healthcare Services

By Staff Reporters

What it is?

The Healthcare Blue Book is a free consumer guide to help you determine fair prices in your area for healthcare services.

How it works?

If you pay for your own healthcare, have a high deductible or need a service your insurance does not fully cover, they can help. The Healthcare Blue Book will help you find fair prices for surgery, hospital stays, doctor visits, medical tests and much more.

Assessment

So, give em’ a click and tell us what you think?

www.HealthCareBlueBook.com

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Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Filed under: Health Economics, Health Insurance | Tagged: Consumer Guide to Healthcare Services, The Healthcare Blue Book, www.healthcarebluebook.com | 1 Comment »

Can Americans Trust the ADA?

Posted on July 13, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Trusting the American Dental Association?

[By D. Kellus Pruitt DDS]

In January 2011 – the same month a new Minnesota law demanded dentists purchase e-prescription software whether they want it or not – the ADA Standards Committee on Dental Informatics published White Paper No. 1070: “Implementation of the Electronic Prescription Standard for Dentistry.”

Minnesota lawmakers who logically turned to the respected ADA for what they expected to be reliable and unbiased professional advice, were assured by the Committee that e-prescribing will not only “insure the elimination of illegible prescriptions” but it will also “reduce preventable errors such as drug to drug interactions, drug-allergy reactions, dosing errors, therapeutic duplication, and other error types.”

http://www.ada.org/sections/scienceAndResearch/pdfs/ADA_White_Paper_No._1070.pdf

Really, ADA? On what evidence did the ADA Department of Dental Informatics base their self-serving claims?

This week, MedicalNewsToday.com reporter Christian Nordqvist posted “11.7% Medication Error Rate In E-Prescribing,” which directly contradicts the ADA’s advice to trusting Minnesota lawmakers and ADA members. Nordqvist writes: “The chances of mistakes occurring in prescriptions sent electronically are no lower than in those written out by hand, a researcher from Massachusetts General Hospital in Boston wrote in the Journal of American Medical Information Association. This will be a disappointment for health reform experts and policymakers [and ADA officials] who assured that E-prescribing would have fewer medication errors, as well as saving the government billions of dollars.”

http://www.medicalnewstoday.com/articles/230296.php

If one considers the JAMIA a credible Journal, research clearly suggests that e-prescribing is a bust for physicians who write many more prescriptions than dentists. Yet ADA officials continue to encourage dentists to adopt paperless practices without mentioning that e-prescriptions not only produce just as many errors as paper, but that they are hundreds of times more expensive because of the cost of computers, software and HIPAA requirements.

In addition, if a dentist’s computer is stolen or hacked – even if he or she properly reports a breach of e-prescription records – the tragedy can easily bankrupt a practice between the HIPAA fines, state attorneys general lawsuits, patient notifications and local media coverage of the breach (as required by HIPAA/HITECH). The Ponemon Institute estimates the cost to be over $200 per dental patient. And the price is only increasing. I just read that HHS is to conduct 150 HIPAA audits in 2012. Ka-ching!!!

https://www.fbo.gov/index?s=opportunity&mode=form&id=9e045aa4f7e6f8499c5b6f74d5b211e9&tab=core&_cview=0

That announcement from HHS should also conveniently boost sales of “The ADA Practical Guide to HIPAA Compliance” (on sale now at ADA.org for $220 while supplies last).

Sounding the Alarm

I personally started warning ADA leaders about this over 5 years ago. Yet as far as I can tell, they continue to blissfully ignore the IT disaster in dentistry. They don’t have to listen to nobody. And it shows.

As illogical as it sounds for an organization whose only purpose is to serve the interests of dues-paying members, the ADA hasn’t a single “vetted” EDR expert who will allow him or herself to be accessed on the internet. One such rumored expert is long-time ADA Trustee Dr. Robert Faiella. Since the Osterville, Massachusetts periodontist is so secretive with the ADA members he serves, like Soviet leaders of the 1970s, it’s hard to tell for sure if he is still in power or even alive.

Suspiciously, in these days of rapidly-expanding openness through social networks, the ADA cannot even contribute experts’ answers to Sharecare.com as promised – much less open a Facebook with over 12,000 waiting fans. So instead of ADA members’ questions about e-prescribing being answered by ADA experts on a convenient venue like a Facebook, ADA members must turn to irrelevant, Committee-approved publications… just like the Soviet Union of the 1970s.

I have personally found it is easier to obtain responses from my US Senator John Cornyn than from shy ADA officials. But then, I’ve discovered that Senator Cornyn is a remarkably caring individual. Not an evasive not-for-profit apparatchik with nice teeth.

Assessment

How long before dentistry’s handful of entrenched ADA leaders apologize for the harm they’ve caused and stop deceiving Americans about electronic dental records? It’s the least Dr. Robert Faiella could do before resigning his ADA position.

As long as obsolete ADA officials wink at a bankrupt policy of deception, can the reclusive not-for-profit organization ever regain America’s trust?

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Filed under: Ethics, Information Technology, Pruitt's Platform | Tagged: ADA, Darrell Pruitt, eDRs, EMRs, HIPAA, JAMIA | 13 Comments »

RUC versus RUC

Posted on July 12, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Bill Seeks Outside Review of Relative Values in Medicare Services

Charles Fiegl, amednews staff.

First posted 4/11/11 on American Medical News

The AMA, AOA and others defend the RUC process, but some primary care societies support bringing in contractors for a second opinion.

By ME-P Staff Reporters

PRO: http://www.familymedicine.medschool.ucsf.edu/pdf/cepc/0406_pres/BodenhPPTslides.pdf

CON: http://www.nhpf.org/library/handouts/Levy.slides_03-05-10.pdf

Conclusion

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Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

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Filed under: Career Development, Health Economics, Point-Counter Point, Practice Management | Tagged: Barbara Levy, RBRVS, relative value units, Relative Values in Medicare Services, RUC, Thomas Bodenheimer | 2 Comments »

Who are the Sexual Predators?

Posted on July 11, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

By Infographics

Courtesy Medical Billing and Coding

One of the most confusing aspects of the term “sexual predator” is how interchangeable it can be with other terms, especially sex offender. Some states use legal differences in offenders’ crimes to determine the term that most appropriately describes them. However, other states will simply use “sexual predator” as a blanket term to describe anyone that seeks out specific types or partners for sex. This can even include people that go to bars to find a sexual partner.

Assessment

Ever since the NBC news program Dateline made and later retracted the statement that “there were as many as 50,000 sexual predators online at any given time,” there has been a great deal of confusion as to how many sexual predators are out there, and who they actually are.

Conclusion

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Filed under: Ethics | Tagged: Infographics, Medical Billing and Coding, Sexual Predators | 2 Comments »

Dr. David E. Marcinko is “In-the-News”

Posted on July 9, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Our ME-P Editor is an Industry “Mover and Shaker”

By Ann Miller RN MHA

[Executive-Director]

Link: http://www.physiciansmoneydigest.com/search?get1=search&get2=marcinko

Link: www.medicalbusinessadvisors.com_forum-books.asp

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Filed under: Book Reviews, Financial Planning, Glossary Terms, Investing, Marketing & Advertising, Practice Management, Risk Management, Touring with Marcinko | Tagged: Dr. David Marcinko | 1 Comment »

Understanding Healthcare Leadership Today

Posted on July 8, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

More Mentor – Less Administrator

By Dr. David Edward Marcinko MBA

[Editor-in-Chief]

The organizational changes necessary for good health care entity operational performance rarely occur without some initiative on the part of management.

IOW: If you want good financial performance, you need to assert the leadership necessary to design and implement needed changes in operations management.

Healthcare Leadership Today

But, healthcare leadership today is not something that is done to people; it is something you do with them.

Today’s successful hospital executive must act more like a leader and mentor, and less like an administrator or manager. They must create trust and collaboration to empower their professional staff, volunteers, and employees.

The Mentoring Paradigm

For some executives, this requires a fundamental shift in mindset. This new mentoring paradigm demands a holistic approach for the total healthcare organization so that the enterprise-wide environment assists everyone to realize their full potential. This maximization of performance is more than just a trendy business concept for leadership.

And, it is more than merely putting on a business suit and expecting results. It is a commitment to being a transparent informed leader. One of the elements in this shift in mindset involves information communication. All relationships involve communication as an element of education, and healthcare leadership is no exception. In fact, what is really enabling is the dissemination of information to all stakeholders and peers.

Assessment

In essence, the leader takes on a more communicative role and thus empowers employees to their full potential. To successfully achieve this, the hospital, nurse or physician executive must have a clear understanding of self and consider human values relative to the role of the health organization measurements and mission. This attention assists the executive to lead with self-confidence and to encourage differing opinions, rather than the opposite.

Remember

Leadership is the driver of all components including Healthcare Information Technology and Analysis, Strategic Planning, Human Resource Development and Management, Motivation Theory and Process Management.

Conclusion

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Filed under: Career Development, Practice Management | Tagged: david marcinko, Healthcare Leadership, physician-executives, www.healthcarefinancials.com | 4 Comments »

Finding the Cure for AIDS

Posted on July 7, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Infographics

[Courtesy Medical Billing and Coding]

[Courtesy http://www.MCOL.com]

Since 1993, the average lifespan of a person infected with HIV (after their initial diagnosis) has tripled, largely thanks to treatments like the “cocktail.” However, with the cost of such drugs ranging from $10,000 to $15,000 per year for each person taking them, scientists are still on the hunt for a cure.

Assessment

Recent research may have uncovered a potential treatment that could cure HIV through stem cell research. Here, you will find out how this cure works along with other information on one of the most infamous STDs of all time.

***

[ID docs are among the worst paid specialists in the US. They train for several additional years, take difficult call schedules, but make less money than peers]

***

Conclusion

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Filed under: Alerts Sign-Up | Tagged: AIDS, AIDS cure, HIV, Infographics, Medical Billing and Coding, STDs | 11 Comments »

Merrill Lynch Investigated for CDO Deal Involving Magnetar

Posted on July 6, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Hedge Fund Probed

By Marian Wang

ProPublica, June 15, 2011, 3:10 pm

The Securities and Exchange Commission is investigating whether Merrill Lynch short-changed investors and gave undue influence to the hedge fund Magnetar in the creation of a $1.5-billion mortgage-backed security deal.

The investigation, which was first reported [1] by the Financial Times ($), appears to be the agency’s first probe of Merrill Lynch’s CDO business since the financial crisis. (Check our bank investigations cheat sheet [2] for which other firms are being probed.) Here’s the FT:

The investigation is one of several SEC probes into banks that helped underwrite billions of dollars of collateralised debt obligations, securities comprised of mortgages or derivatives linked to them.

It also marks a broadening of the SEC’s investigation into the role of collateral managers, institutions that help select the assets included in CDOs.

Podcast

Latest Episode: Senior editor Susan White shares some parting thoughts on ProPublica and the editing process before she leaves to move back to California.

Listen

The deal that the SEC is investigating—a collateralized debt obligation, or CDO, called Norma—was detailed both in our reporting last year [3] and in a report [4] by the Financial Crisis Inquiry Commission released in January. Norma was one of more than two dozen CDO deals [5] done by Magnetar, whose bets against a number of CDOs earned it billions in the waning days of the housing boom.

As the FCIC detailed, Magnetar helped select the assets that went into Norma even though it had a $600 million bet that would pay off substantially if the CDO failed. As we reported [6], Magnetar often invested in the portion of the CDO that was riskiest and hardest for the banks to sell. Banks typically gave such investors—equity investors—more say in how the deal was structured. (Magnetar isn’t named as a target of the investigation and had no responsibility to investors. It has also maintained that it did not have a strategy to bet against the housing market.)

In the offering documents for Norma, there’s no mention of Magnetar’s role in asset selection, according to the FCIC. Investors were told that an independent collateral manager, NIR Capital Management, would be selecting the assets with their best interest in mind. The report concluded: “NIR abdicated its asset selection duties… with Merrill’s knowledge.”

Bank of America

Bank of America, which took over Merrill Lynch in 2008, declined our request for comment. The firm’s general counsel told [4] the Financial Crisis Inquiry Commission that it was “common industry practice” for equity investors to have input during the asset selection process, though the collateral manager had final say.

NIR Capital Management

NIR Capital Management is also being investigated by the SEC, according to the FT. The firm did not immediately respond to our request for comment. (The Wall Street Journal did an impressively detailed story in 2007 on how NIR came to be manager [7] of the Norma deal.)

Magnetar declined our earlier requests for comment on Norma, but FT reports it has denied claims [1] that it selected the assets for Norma.

Assessment

As we reported, the SEC had launched a probe of Merrill’s CDO business 2007, but that investigation petered out without resulting in any charges.

Conclusion

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Filed under: Alternative Investments, Investing, Mortgage Electronic Registry System | Tagged: Bank of America, CDOs, Financial Crisis Inquiry Commission, hedge funds, Magnetar, Marian Wang, Merrill Lynch, NIR Capital Management, ProPublica, SEC, Susan White | 10 Comments »

About the VA’s “Blue Button” eHR Initiative

Posted on July 5, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

The Blue Button Initiative

By Staff Reporters

On August 2, 2010, President Obama announced the “Blue Button” capability that allows Veterans to download their personal health information from their My HealtheVet account. VA developed the Blue Button in collaboration with the Centers for Medicare and Medicaid Services (CMS), and the Department of Defense, along with the Markle Foundation’s Consumer Engagement Workgroup.

My HealtheVet and the VA Blue Button

The My HealtheVet Personal Health Record (PHR) is comprised of self-entered health metrics (blood pressure, weight, heart rate, etc.), emergency contact information, test results, family health history, military health history, and other health related information. The Blue Button extract that Veterans can download is a so-called “ASCII text file”, the easiest and simplest electronic text format (see sample files: all data, by data class, or by date range).

VA Blue Button files can be printed, or saved on computers and portable storage devices. Having control of this information enables Veterans to share this data with health care providers, caregivers, or people they trust. On October 7, 2010, VA and CMS officially announced the VA Blue Button download feature in a presentation by VA Chief Technology Officer, Dr. Peter Levin, at the Health 2.0 conference in San Francisco. The initiative was launched in collaboration with the White House, the U.S. Chief Technology Officer Aneesh Chopra, and the Department of Health and Human Services Chief Technology Officer, Todd Park.

The VA Blue Button Was Upgraded to Empower Veterans to Manage Their Health Care

With the January 2011 release of the VA Blue Button, registered users of My HealtheVetcan now download a single file that includes these new features:

VA Appointments (past and future) *
Self-entered health care providers, treatment facilities and health insurance information
Ability to customize the Blue Button download based on topics and dates

* Veterans must be in-person authenticated to access VA Appointments.

Assessment

So, give em’ a click and tell us what you think?

http://www.va.gov/BLUEBUTTON/index.asp

Conclusion

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

xos

Filed under: Information Technology, Military Medicine | 8 Comments »

Be Heard on e-Media’s Leading Physician-Advisor Voice

Posted on July 2, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

The Medical Executive-Post

By Ann Miller RN MHA

[Executive-Director]

The Medical Executive Post is the web’s leading professional media platform for doctors and their financial advisors and medical management consultants

Submissions

You can engage this influential audience by submitting a guest opinion on any of our more than 50 core topics. Newspaper reporters and editors, along with television producers, regularly read the ME-P, so this is an opportunity to get noticed by major media outlets.

Format

Articles of about 500 -1,000 jargon free words in length, and free of grammatical and spelling errors, are preferred. Accepted pieces will be published on the ME-P and are syndicated or re-published elsewhere.

Copyright

Authors retain rights to their pieces, which may also be published elsewhere. Talented and varied folks from professional organizations such as the AMA, APMA, ADA, AOA, FPA and various BDs and RIAs contribute regular, exclusive pieces to the ME-P, as well as a core group of influential medical, health economics, financial planning, medical management and consultative sales voices.

Assessment

Please send your article here for consideration: MarcinkoAdvisors@msn.com

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Career Development, iMBA, Inc., Marketing & Advertising, Media Mentions and PR, Practice Management | Tagged: David E. Marcinko, ME-P, medical executive post, www.medicalbusinessadvisors.com, www.MedicalExecutivePost.com | 1 Comment »

Events Planner: July 2011

Posted on July 1, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

ADVERTISEMENT

Events-Planner: JULY 2011

By Staff Writers

“Keeping track of important health economics and financial industry meetings, conferences and summits”

So, enjoy the Medical Executive-Post and this monthly Events-Planner with our compliments.

A Look Ahead this Month – And now, the important dates:

July 08-10: Morningstar Investment Conference, Chicago, Il
July 08-10: Peshing Institute, Hollywood, Fl
July 09-10: Re-Engineering the OR Conference, Boston MA

Please send in your meetings and dates for listing in the next issue of our Events-Planner.

MarcinkoAdvisors@msn.com

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

Filed under: Events-Planner | Tagged: Events-Planner, ME-P, medical executive post | Leave a comment »

The Cost of Raising a Child

Posted on June 30, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Very Expensive – Even for Physicians

By creditsesame.com and Column Five

It’s no secret that raising a child is expensive. Now, there’s government data that tells us just how expensive — in striking detail.

From birth through seventeen years of age, parents can expect to spend an average $205,960 to $475,680, depending on their household income.

You may not be surprised that the largest expense for a parent is housing — and that has been the case for the last five decades. How much more can you expect to spend on your mortgage or rent once your first bundle of joy arrives?

Assessment

Take a look at our infographics below, where we break down the cost of moving to a house with one additional bedroom (even including the added cost of utilities for that bedroom) by region and income level, along with many other interesting details.

Conclusion

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Financial Planning | Tagged: Column Five, Cost of Raising a Child, creditsesame.com | Leave a comment »

Home Ownership in the US

Posted on June 29, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

A Market Turned Asunder

By Protect Peace of Mind

Since 2008, the real estate market has been turned upside down and millions of people, including some doctors, throughout the U.S. have been affected by it.

Assessment

Home values have fallen and millions of jobs have been lost which means fewer Americans are able to afford their homes. This infographic created on home ownership in the US can help you learn more about the best places to own a home.

Conclusion

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Financial Planning | Tagged: home ownership, Protect Peace of Mind, real estate markets | 3 Comments »

Who Can’t Afford Health Care?

Posted on June 28, 2011 by Dr. David Edward Marcinko MBA MEd CMP™

Expensive Even with Insurance

By Thomas Porostock

Health Care, even with insurance can be expensive, but what if you actually can’t afford medical care?

Conclusion

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Filed under: Ethics, Health Insurance, Healthcare Finance | Tagged: affording healthcare, health care, Health Insurance | 2 Comments »

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