SECOND OPINIONS: Physician Financial Planning, Investing, Medical Practice Management and Business Valuations; etc!

Posted on February 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

BY DR. DAVID EDWARD MARCINKO MBA CMP

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Financial Planning for Medical Professionals

HERE: https://medicalexecutivepost.com/schedule-a-consultation/

CONTACT: Ann Miller RN MHA

770-448-0769

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Ending Childhood Obesity on “Fat” Tuesday

Posted on February 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

A Fat Tuesday Message in 2023

[By Staff Reporters]

More than a decade ago, First Lady Michelle Obama kicked off a campaign to try to end childhood obesity within a generation.

Of course, with the impending Lenten season about to start, the timing could not be more prescient for a re-dedication to this goal.

Let’s Move

The campaign to end obesity is called: “Let’s Move“; local to Savannah, GA.

LINK: https://www.prlog.org/12621769-enmarket-raised-15000-for-the-partnership-for-healthier-america-to-help-end-childhood-obesity.html

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ME-P Mardi Gras Mask on Fat Tuesday

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MORE: https://medicalexecutivepost.com/2018/03/02/us-childhood-obesity-trends/

ADULTS: https://medicalexecutivepost.com/2016/03/25/an-obesity-pic/

Conclusion

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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

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HOSPITAL RANSOMWARE ATTACKS: A Delivery and Patient Outcomes Analysis

Posted on February 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

NIHCM GRANTS

By Hannah Neprash

By Sayeh Sander Nikpay

By Claire McGlave

UNIVERSITY OF MINNESOTA

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Despite increased occurrences, the lack of data on ransomware attacks has impeded research.

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

This research team will use a newly developed database to analyze how hospital ransomware attacks affect health care delivery and patient outcomes. The findings will provide new evidence for ongoing debates and legislative proposals about improving the cybersecurity of critical US infrastructure – including hospitals.

The Effect of Hospital Ransomware Attacks on Health Care Delivery and Patient Outcomes

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A “Six Sigma”© Primer for the Homecare Industry

Posted on February 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By: Christian Hernandez MBA – Apple Health Care Services

Richard Melnyck MBA MS
Mark Friedman PhD Department of Accounting
Howard Gitlow PhD Department of Management Science University Miami
christian hernandez
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BACKGROUND
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Homecare has long been one the most cost-effective methods of treating patients. Yet today, homecare providers face significant challenges: reimbursement cuts, mandatory accreditation, and influencing policy changes. So, how can homecare managers efficiently sustain a cutting edge, consistent and quality focused practice amidst this changing landscape?
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It is time the homecare industry tap into the high-tech tools and proven management theories that together make up “Six sigma” management. This article will provide a solid point of reference for managers interested in adopting “Six Sigma” management. In today’s stiff economic climate, organizations are once again turning to “Six Sigma”strategies as a means to reduce their bottom lines.
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However, its cost cutting aspect is technically more of a by product than the core of its theory. “Six Sigma” management is practiced in many organizations across all sectors of the global economy. Companies such as drug giant Merck, Cadbury, and Dunkin’ Brands are increasingly turning to Six Sigma to lift their bottom lines.
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The term “Lean Management” is an old buzz word that still excites managers. Lean Management stems from the term Lean Manufacturing, which was a derivative of Total Quality Management (TQM) —considered one of the earlier versions of “Six Sigma”.
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Over the years, “Six Sigma” has evolved from a ground-breaking management system to one of the most proven methods for instituting change, reducing errors and eliminating inefficiencies. These management utilities run through the entire spectrum of organizational applications, from confronting the serious issues mentioned above to routine business functions.
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The resurgence of Japan’s economy in the 70’s and 80’s is largely attributed to TQM. “In the auto industry, manufacturers such as Toyota and Honda became major players. In the consumer goods market, companies such as Toshiba and Sony led the way. These foreign competitors were producing lower-priced products with considerably higher quality.”
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Note: © Six Sigma is a trademark of the Motorola Corporation
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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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SUBSCRIPTION SERVICE “Meta Verified”

Posted on February 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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According to Alexandra Bruell at alexandra.bruell@wsj.com the aim of Meta Verified is to increase security and authenticity across the company’s services, Chief Executive Mark Zuckerberg said Sunday in social-media posts. It is also meant to “help up-and-coming creators grow their presence and build community faster,” according to a Meta spokesperson.

The service will cost $11.99 a month for Facebook and Instagram accounts that sign up from a web browser, or $14.99 a month for subscriptions through devices running Android and Apple Inc.’s iOS system, according to Meta. Tests of the service will begin in Australia and New Zealand this week. 

In the coming months, the company expects it to roll out in the U.S. and eventually other markets, according to the spokesperson.

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GSK: Zantac Risks and American Depository Receipt Shares

Posted on February 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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GlaxoSmithKline

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GSK (GSK) American Depository Shares lost ~2% pre-market yesterday after a new report from Bloomberg Businessweek claimed that the British drug maker chose to keep quiet on the cancer risks of the recalled heartburn medication Zantac. Zantac, also known as ranitidine, was pulled from the U.S. market in 2020 amid concerns over the unacceptable levels of potential human carcinogen, N-nitrosodimethylamine (NDMA).

Since then, the makers of Zantac generics, including Sanofi (SNY) (OTCPK:SNYNF), GSK (GSK), Pfizer (PFE), and Boehringer Ingelheim GmbH, have faced thousands of lawsuits for failure to adequately warn health risks of the antacid.

Citing court filings, studies, FDA transcripts, and new drug applications obtained through the Freedom of Information Act requests, Bloomberg said that the FDA considered the cancer risks when green lighting the medication, but GSK (GSK) withheld key study data.

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

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The FIDUCIARY OATH for “Financial Advisors”

Posted on February 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

“Will you sign a fiduciary oath?”

PHYSICIAN COLLEAGUES AND MEDICAL PROFESSIONALS ASK

By Dr. David Edward Marcinko MBA CMP®

CMP

SPONSOR: http://www.CertifiedMedicalPlanner.org

https://certifiedmedicalplannerdotorg1.files.wordpress.com/2012/03/cmp-logo17.jpg

“SIGN IT -OR- FORGET IT”

Asking a “Financial Advisor” if they’re a fiduciary isn’t always enough to hire them. People can “ice skate” around that terminology and give fuzzy or unclear answers to that question. Instead, you may consider asking them to sign a fiduciary oath.

“If someone is fee-only, not “fee-based”, they shouldn’t have a problem signing a document stating how they get compensated.” “If someone is, for example, a broker dealer, insurance agent or investment advisor who works on commissions, they probably wouldn’t be allowed to sign it.” Just say NO to contract arbitration clauses, too! As well as “Dual Registration.” Remember Bernie Lawrence Madoff.

THE FIDUCIARY OATH

This one-page document outlines five fiduciary principles a financial adviser must follow to put the client’s interests ahead of their own. They include acting with prudence, not misleading the client, avoiding conflicts of interest, and disclosing and managing unavoidable conflicts.

The oath, meant to be printed out and signed by an adviser, has been around for several years. But recent events, such as the 5th Circuit Court of Appeals striking down the DOL rule, have increased the urgency to get it into circulation.

“With the 5th Circuit ruling, it is just so important to have this oath out there because it states fiduciary principles,” said Ms. P. Houlihan, president of Houlihan Financial Resource Group. “The oath is the answer, given that the DOL rule is gone.”

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;,nbv

 fiduciaryoath_individual

Conclusion

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

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

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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JOHNS HOPKINS UNIVERSITY: COVID Health Tracker Down

Posted on February 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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HEALTH TRACKER UN-AVAILABLE

After three years of keeping us all updated on Covid case counts, Johns Hopkins University will stop updating its Covid-19 tracking dashboard next month. The tracker was viewed 2.5+ billion times and cost $13 million to run.

Our ME-P Home Page link will be removed as well.

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HOSPITAL PARTNERSHIPS: CBOs and SDOH

Posted on February 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

COMMUNITY BASED ORGANIZATIONS

SOCIAL DETERMINANTS OF HEALTH

NIHCM GRANTS

By Yunyu Xiao Weil of Cornell Medicine

By Timothy Brown of UC Berkley Medicine

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This study will determine the causal effects of hospital-CBO partnerships on hospital re-admissions and mortality for the leading mental health and injury-related causes of death (suicidal ideation or suicide) and the leading physical cause of death (heart attack).

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

Findings may inform how, where, and for whom targeted hospital partnerships with CBOs can reduce hospital readmission and mortality.

Do Hospital Partnerships with Community-Based Organizations (CBOs) that Address Social Determinants of Health Reduce Hospital Readmission and Mortality?

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The “NO LANDING ECONOMY” – Defined?

Posted on February 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

FINANCIAL JARGON

The notion of a “no landing” scenario for the U.S. economy — as opposed to a hard or soft landing — is the latest topic to dominate discussions among economists and strategists.

DEFINITION?

According to Michael B. Kelley Editorial Director of Yahoo Finance, says that a “no landing” scenario involves the economy continuing to grow despite the Federal Reserve’s best efforts to tamp down inflation with interest rate hikes. And, what does that does it mean? “It’s all about inflation,” Bianco Research President Jim Bianco told Yahoo Finance Live.

“What they want or what they’re hoping for, both at the Fed and on the Street, is that the inflation rate is going to hit 2%,” he explained. “Well, the only way that it’s going to do that — at least the belief is — the economy has to slow. And if it doesn’t slow, then the inflation rate stays up. And if the inflation rate stays up, the Fed keeps hiking.”

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

Breaking down the 'no landing' buzz: What it means for investors

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LINK: https://flo.uri.sh/visualisation/6180194/embed?auto=1

Given the implication the Fed will continue raising rates until inflation subsides — and, in turn, the economy cools off — some observers argue that there’s no such thing as a “no landing” scenario.

“Because we’re in this highly volatile environment, and because there is so much uncertainty, we’ve now seen a number of different ways to interpret or call what we’re seeing in the economy,” EY Parthenon Chief Economist Gregory Daco told Yahoo Finance this week.

“No landing does not make any sense, because it essentially means the economy continues to expand, and it’s part of an ongoing business cycle and it’s not an event — it’s just ongoing growth,” Daco added. “Doesn’t that entail that the Fed will have to raise rates more, and doesn’t that increase the risk of a hard landing?”

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What is a Federally Qualified Health Center?

Posted on February 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

ABOUT F.Q.H.C.s

By Dr. David E. Marcinko MBA CMP®

CMP logo

SPONSOR: http://www.CertifiedMedicalPlanner.org

I worked at several FQHCs as a medical student and intern, back in the day, both in urban and suburban settings. But, I never was sure what this entity was, exactly. Probably because I was from an under served area, myself.

DEFINITION:

A Federally Qualified Health Center (FQHC) is a reimbursement designation from the Bureau of Primary Health Care and the Centers for Medicare and Medicaid Services of the United States Department of Health and Human Services. This designation is significant for several health programs funded under the Health Center Consolidation Act (Section 330 of the Public Health Service Act).

It is a community-based organization that provides comprehensive primary care and preventive care, including health, oral, and mental health/substance abuse services to persons of all ages, regardless of their ability to pay or health insurance status.

Thus, they are a critical component of the health care safety net. FQHCs are called Community/Migrant Health Centers (C/MHC), Community Health Centers (CHC), and 330 Funded Clinics. FQHCs are automatically designated as health professional shortage facilities.

CMS: https://www.cms.gov/Center/Provider-Type/Federally-Qualified-Health-Centers-FQHC-Center

FQHC.org: https://www.fqhc.org/what-is-an-fqhc/

Your thoughts are appreciated.

Click to access mike-stahl-phd-mba.pdf

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PRIVATE EQUITY: In Cancer Oncology Care

Posted on February 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

NIHCM GRANTS

By Ola Abdelhadi

By Richard Scheffler

University California at Berkley

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Despite increases in private equity acquisition of oncology practices, little is known about the effect on market competition, prices, and quality.

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

This research team will examine the changes in health care quality and prices following private equity acquisition of oncology practices and explore whether these acquisitions exacerbate health disparities among racial groups. This work may be relevant to policymakers and antitrust regulators assessing private equity deals.

Increasing Private Equity Investment in Cancer Care: What is the Effect on Prices and Quality of Care?

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YouTube: CEO Susan Wojcicki Logs Off

Posted on February 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Susan Wojcicki, the CEO of YouTube for the last nine years, is stepping down. The video site has exploded under her watch, and its $29.2 billion in ad revenue last year accounted for about 10% of Google parent company Alphabet’s total sales.

But Wojcicki’s time at the company far predates YouTube—in fact, she was Google’s 16th employee. She was also its first landlord: In 1998, Wojcicki rented out her garage in Menlo Park, CA, to Google’s co-founders for $1,700 a month.

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What is the “Direct Listing” Process on Wall Street?

Posted on February 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

On The “Direct Listing” Process

[By staff reporters]

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Direct Listings Once Looked Like a Threat to Traditional IPOs. Now They're an Option for the Few. | Barron's

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We’ve talked about Wall Street, IPOs, the OTC market and secondary public offerings before. So, now may be a good time to discuss the direct public listing.

The Direct Public Listing

Companies that want to do a public listing may not have the resources to pay underwriters, may not want to dilute existing shares by creating new ones or may want to avoid lockup agreements. Companies with these concerns often choose to proceed by using the “direct listing” process, rather than an IPO.

Direct Listing Process (DLP) is also known as Direct Placement or Direct Public Offering (DPO)

In DLP, the business sells shares directly to the public without the help of any intermediaries. It does not involve any underwriters or other intermediaries, there are no new shares issued and there is no lockup period.

The existing investors, promoters and even employees holding shares of the company can directly sell their shares to the public.

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However, the zero- to low-cost advantage also comes with certain risks for the company, which also trickle down to investors.

For example there is no support or guarantee for the share sale, no promotions, no safe long-term investors, no possibility of options like greenshoe and no defense by large shareholders against any volatility in the share price during and after the share listing.

Assessment:

The greenshoe option is a provision in an underwriting agreement that grants the underwriter the right to sell investors more shares than originally planned by the issuer if the demand proves particularly strong.

MORE: https://money.usnews.com/investing/stock-market-news/articles/direct-listing-vs-ipo

Conclusion: Your thoughts are appreciated.

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Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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USA HEALTHCARE QUALITY: Confidence Down

Posted on February 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Confidence in the caliber of the American health system has never been lower

A GALLUP POLL

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ANNUAL GALLUP HEALTHCARE QUALITY REPORT

More than one in five adults (21%) living in the US now rate the country’s healthcare as “poor” quality—a record high, according to Gallup’s annual health and healthcare poll.

Less than half of all respondents (48%) surveyed in 2022 said they’d rank the quality of healthcare in the US as “excellent/good”—a new low since Gallup began tracking the issue in 2001. (That’s down from 50% in 2021 and a record high of 62% in 2010 and 2012.) About a third (31%), meanwhile, said they’d rate the quality of US healthcare as “only fair,” a slight drop from 35% in 2021.

Gallup partially attributed the drop in perceived quality to politics, noting that “Republicans’ positive ratings have been subdued since President Donald Trump left office.” Other likely factors, the organization offered, could be “changes to healthcare that have taken place amid the Covid-19 pandemic or curtailed access to abortion since the Supreme Court’s Dobbs decision.”

Survey Reports:

  • Respondents reported a rosier take on the care they personally receive. Over 70% rated it as “excellent/good” compared to 6% who rated it as “poor.” But that high “excellent/good” mark is still down from 76% in 2021 and 82% in 2020.
  • Costs remained a point of contention in 2022. Less than a quarter (24%) of respondents said they were “satisfied” with the total cost of healthcare in the US, and this proportion is on par with rates from the past two decades. But only 56% of those surveyed reported being satisfied with the total cost they pay for care—the lowest level since 2016.
  • One in five respondents think the US healthcare system is in a “state of crisis” (20%) or has “major problems” (48%).

EDITOR’S NOTE: As a former CPHQ [Certified Physician in Healthcare Quality], I find this report alarming and confusing – David EdwardMarcinko MBA CMP

CMP Program: http://www.CertifiedMedicalPlanner.org

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What is an ADR / SPDR Receipt?

Posted on February 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

AMERICAN DEPOSITORY RECEIPTS AND S&P RECEIPTS

By Dr. David E. Marcinko MBA CMP®

CMP logo

SPONSOR: http://www.CertifiedMedicalPlanner.org

AMERICAN DEPOSITORY RECEIPT (ADR) = A receipt evidencing shares of a foreign corporation held on deposit or under the control of a U. S. banking institution; it is used to facilitate transactions and expedite transfer of beneficial ownership for a foreign security in the U.S. Everything is done in dollars and the ADR holder doesn’t have voting rights; essentially the same as an American Depository Share (ADS).

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

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A Standard & Poor’s Depositary Receipt, or SPDR, is a type of exchange traded fund that began trading on the American Stock Exchange (AMEX) in 1993 when State Street Global Advisors’ investment management group first issued shares of the SPDR 500 Trust (SPY).

image-2

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

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MORE: https://medicalexecutivepost.com/2008/02/15/about-american-depository-receipts/

S&P: https://medicalexecutivepost.com/2011/01/12/on-standard-poors-depository-receipts/

S&P Index: https://medicalexecutivepost.com/2011/01/15/spdrs-vs-index-mutual-funds/

S&P TAX: https://medicalexecutivepost.com/2011/01/30/do-spdrs-yield-tax-advantages/

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What Is Health 2.0?

Posted on February 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

New-Wave Operative Definitions

By Jennifer Tomasik MS

Health 2.0 is participatory health care.

Enabled by information, software, and community that we collect or create, we the patients can be effective partners in our own health care, and we the people can participate in reshaping the health system itself.

   — Dr. Ted Eytan, Director, Permanente Federation, LLC

Potential

Health 2.0’s potential lies in enabling, catalyzing, and sustaining changes in the practice of healthcare.

Dr. Ted Eytan, a nationally recognized proponent of digitally-enhanced patient care with a particular interest in preventive care, has blogged the above “declaration of health care independence,” which we will use as our own working definition of Health 2.0.

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

A Human Space Defined by Engagement

We see Health 2.0 as a human space defined by engagement, aided by technology, in which information and accountability can flow between individuals and their care teams and between individuals and their social networks.

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

Assessment

The “practice” of healthcare can be understood as a set of “behaviors” that becomes embedded in daily life, plus the “supports” that provide the appropriate resources to achieve the desired outcomes.

Thus, changing a current practice (in pursuit of a different outcome) requires enabling the behavior you want to encourage by providing the necessary supports to make it happen. Health 2.0 has made new supports available for people to embed health-seeking behaviors and sustain practices that increase their involvement in their own health.

NOTES:

[i] Eytan T. “The Health2.0 Definition: Not just the Latest, The Greatest!,” Ted Eytan, MD (Blog).Online 13 Jun 2008. Accessed 1 Nov 2012. <http://www.tedeytan.com/2008/06/13/1089&gt;

[ii] Hawn C. “Take Two Aspirin and Tweet Me in the Morning: How Twitter, Facebook, and Other Social Media Are Reshaping Health Care.” Health Affairs 2009;28(2):361-8.

[iii] Moussa M, Tomasik JL. “Doctor-Patient Relationships in the Modern Era: Can We Talk—A Collaborative Shift in Bedside Manner.” Ch. 15 in Marcinko D.E. and Hope R. Hetico. The Business of Medical Practice: Transformational Health 2.0 Skills for Doctors. New York: Springer Pub. Co., 2011.

Conclusion

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Become a Board CERTIFIED MEDICAL PLANNER™ and Thrive

Posted on February 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Join Our Mailing List

Think Different – Be Different  – Thrive

[By Ann Miller RN MHA]

Dear Physician Focused Financial Advisors;

Did you know that desperate doctors of all ages are turning to knowledgeable financial advisors and medical management consultants for help? Symbiotically too, generalist advisors are finding that the mutual need for knowledge and extreme niche synergy is obvious.

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planning

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But, there was no established curriculum or educational program; no corpus of knowledge or codifying terms-of-art; no academic gravitas or fiduciary accountability; and certainly no identifying professional designation that demonstrated integrated subject matter expertise for the increasingly unique healthcare focused financial advisory niche … Until Now! 

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http://www.CertifiedMedicalPlanner.org

Enter the CMPs

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

Think Different

 [Think Different – Be Different – Thrive]

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http://www.CertifiedMedicalPlanner.org

***

So, if you are looking to supplement your knowledge, income and designations; and find other qualified professionals you may want to consider the CMP® program.

Enter the Certified Medical Planner™ charter professional designation. And, CMPs™ are FIDUCIARIES, 24/7.

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RISK: Default U.S.A.

Posted on February 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The U.S. risks defaulting on its debts as early as July unless the borrowing limit is raised, the nonpartisan Congressional Budget Office said in a report just released.

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

The federal government on January 19th reached its approximately $31.4 trillion debt ceiling — which legally caps how much the U.S. can borrow to pay for what tax and other revenue doesn’t cover — and the Treasury Department has since been using “extraordinary measures” along with its current cash flow to keep the government’s obligations paid.

“CBO estimates that under its baseline budget projections, the Treasury would exhaust those measures and run out of cash sometime between July and September of this year,” according to the report.

***

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INFLATION: Slowing … Slowly!

Posted on February 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Consumer price data showed it may be a long and winding road back to normal inflation levels. While inflation continued to cool last month, it did so at a slow pace (prices grew 6.4% annually, compared to 6.5% the month before).

And prices for a variety of goods and services, such as groceries and rent, continued to climb considerably. For example, egg prices in January were up 70% from the prior year.

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

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About iMBA Inc., Educational Events

Posted on February 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Bridging the Medical School – Financial Services Industry & Business Education Gap

imba inc

[By Ann Miller RN MHA]

***

iMBA Inc., routinely presents to residents and fellows across the country on a variety of medical, financial, accounting and practice management related topics.

Whether on-site or via webinar, our educational sessions are tailored to fill the finance, economic, practice management, business and practice management educational gap and to provide physicians and allied healthcare professionals with practical advice and strategies to help make sound financial and business decisions.

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Our firm works exclusively with physicians and their advisors, and we understand the stresses and financial pitfalls that are unique to the medical profession. We are doctors who are passionate about equipping, training, and advising physicians so they can work toward achieving their professional and financial goals.

We can tailor our presentations to the needs of the program or group. Above all, we aim to empower residents and fellows with the knowledge they’ll need to succeed financially as they begin their career in private practice or in academics.

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Successful team of doctors at a meeting

****

In addition to speaking with individual programs, we speak with House Officers Associations, Fellowship & Residency Associations, Spouse Support Groups, etc. We are regularly invited to present at Grand Rounds, weekly practice management gatherings, and after-hours dinners.

Educational sessions can be done either on-site or via webinar.

Assessment

To see a list of presentations and topics, click here:

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Conclusion

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DAILY UPDATE: The Metaverse, Nvidia, Tesla and Mixed US Equities

Posted on February 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Microsoft (MSFT) ended a project that aimed to encourage the use of the Metaverse in industrial environments just four months after it was formed, according to a new report by The Information. The 100 members of the team have been laid off as the company wants to prioritize shorter-term projects over those needing longer to generate meaningful revenue.

Tech, led by Nvidia and Tesla, had it better than other sectors.

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

U.S. equities finished mixed, as investors digested the highly anticipated Consumer Price Index report, and its potential impact on the Fed’s future monetary policy decisions. The headline rate and core rate—excludes food and energy—both rose in line with estimates, but on a year-over-year basis inflation came in slightly hotter than expected. In other economic news, small business optimism rose slightly less than anticipated, and remained below its 48-year average for the thirteenth month in a row.

Earnings results were mixed, as Marriot International and Dow component Coca-Cola both bested EPS estimates and provided upbeat outlooks, while Restaurant Brands International missed earnings expectations, but increased its quarterly dividend.

Treasury yields were higher following the inflation data, and the U.S. dollar nudged lower, while crude oil prices fell, and gold was modestly higher in choppy trading. Asian stocks were mostly higher as markets in the region awaited the CPI report, while European stocks mostly added to its strong year-to-date gains amid the inflation data.

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Musings on a Famous Portfolio Asset Allocation Study

Posted on February 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Some Critics Claim Brinson, Hood, and Beebower Conclusions Wrong

[By Dr. David Edward Marcinko MBA CMP™]

http://www.CertifiedMedicalPlanner.org

[Publisher-in-Chief]

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

Enter the Critics

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

The Jahnke Study

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

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

Assessment

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

Certified Medical Planner

Conclusion

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

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VANGUARD: To Liquidate Alternative Strategies Fund (VASFX)

Posted on February 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The $98 million Vanguard Alternative Strategies Fund (ticker VASFX) will be liquidated in the second quarter of 2023, according to a press release. The fund, which launched in 2015, “has not gained broad acceptance among investors,” Vanguard said.

The liquidation marks the first time that Malvern, Pennsylvania-based Vanguard has shuttered a mutual fund since winding up the NJ Municipal Money Market Fund and PA Municipal Money Market Fund in 2020, a spokesperson confirmed over email. The move follows a brutal year for asset managers as the Federal Reserve’s historically aggressive tightening campaign pummeled both stocks and bonds, driving investors to yank billions of dollars from mutual funds. 

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

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Editor’s Note: I visited the Vanguard campus in Malvern PA, while still a medical student in Philadelphia, back in the day. Beautiful and impressive! I learned a great deal on the professional tours and first learned of Gary P. Brinson, L. Randolph Hood. Dr. David Edward Marcinko MBA CMP

MORE: https://medicalexecutivepost.com/2023/02/14/musings-on-a-famous-portfolio-asset-allocation-study-2/

CMP Program: http://www.CertifiedMedicalPlanner.org

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What Do Women Really Want on St. Valentine’s Day?

Posted on February 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Even Female Doctors, Financial Services Professionals and Medical Management Consultants?

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Source: pronto.com

Conclusion

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New CDC Guidelines on COVID

Posted on February 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

AN UPDATE

By Centers for Disease Control and Prevention

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The CDC is the nation’s leading science-based, data-driven, service organization that protects the public’s health. For more than 70 years, it put science into action to help children stay healthy so they can grow and learn; to help families, businesses, and communities fight disease and stay strong; and to protect the public’s health.

***

And now, Emory University in Atlanta Georgia says goodbye to COVID vaccine requirements and updates guidance. For those who would like to read a copy of the most recent CDC guidelines on COVID: click here. 

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PODCAST: Medical Utilization Management and Review Explained

Posted on February 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Eric Bricker MD

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DAILY UPDATE: Disney, MSFT and Lyft Down but US Markets Mixed

Posted on February 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Nelson Peltz, the activist investor and head of Trian Fund Management, called a cease-fire after a month long proxy fight with Disney. Peltz said he was happy with the restructuring plan CEO Bob Iger announced and will no longer try to grab a seat on the board of directors. Along with his restructuring plan, Disney said that Toy Story, Frozen, and Zootopia will all get more sequels in an effort to boost the company’s streaming numbers.

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Microsoft Corp., implementing the layoff of 10,000 workers announced cut jobs in units including Surface devices, HoloLens mixed reality hardware and Xbox, according to Bloomberg and people familiar with the matter.

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Shares of ride-hailing firm Lyft plunged following a downbeat profit forecast. In fact, Lyft had its worst day ever after it shared a dismal outlook during its earnings call this week. Wedbush analyst Dan Ives called it “a Top 3 worst call” out of the thousands he’s listened in 22 years. The company’s shares fell about 36% after forecasting it’ll make between $5 million and $15 million this quarter—rather than the $85 million that analysts expected. Meanwhile, Uber is coming off its “strongest quarter ever,” according to CEO Dara Khosrowshahi.

Yields on the benchmark 10-year Treasury note rose to their highest in more than a month following an auction on Thursday of 30-year bonds that saw weak demand. [US].

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

Finally the S&P 500 gained 8.99 points, or 0.22%, to end at 4,090.49 points, while the NASDAQ Composite lost 71.12 points, or 0.60%, to 11,718.46. The Dow Jones Industrial Average rose 169.88 points, or 0.50%, to 33,869.76. The NASDAQ posted its first weekly fall this year, while the S&P 500 ended the week lower in a week dominated by hawkish commentary from U.S. Federal Reserve officials and earnings reports from more than half of the S&P 500 constituents.

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SECOND OPINIONS: Physician Financial Planning, Investing, Medical Practice Management and Business Valuations; etc!

Posted on February 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

BY DR. DAVID EDWARD MARCINKO MBA CMP

***

Financial Planning for Medical Professionals

HERE: https://medicalexecutivepost.com/schedule-a-consultation/

CONTACT: Ann Miller RN MHA

770-448-0769

***

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FTC: Proposes Banning [Healthcare] Non-Compete Employment Contract Clauses

Posted on February 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Health Capital Consultants, LLC

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FTC Proposes Banning Non-Compete Clauses

On January 5, 2023, the Federal Trade Commission (FTC) published a proposed rule that would ban employers from imposing non-competes on their employees. The FTC asserted that this practice is widespread and often exploitative, and such actions can suppress wages, hamper innovation, and block entrepreneurs from starting their own businesses. Notably, while the proposed rule will affect all industries, not just healthcare, this proposal comes at a time when healthcare employers across the U.S. are struggling with staffing shortages.

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

This Health Capital Topics article will discuss the proposed rule, reactions from healthcare industry stakeholders, and potential implications. (Read more…)

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RISING: Elon Musk’s Wealth and Tesla’s Stock Price

Posted on February 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • The recent rally in Tesla stock is helping CEO Elon Musk pile on wealth and come close to reclaiming the title of world’s richest man. 
  • Musk’s net worth was at $179 billion by Friday’s market close, according to the Bloomberg Billionaires Index. 
  • That’s just $6 billion below Bernard Arnault, who is currently the world’s richest man.

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FINANCIAL HEALTH INSURANCE CO-PAY CARDS & DRUG COUPONS?

Posted on February 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

The “Real Deal”

A co-payment is a fixed amount ($20, for example) you pay for a covered health care service after you’ve paid your deductible.

Let’s say your health insurance plan’s allowable cost for a doctor’s office visit is $100. Your copayment for a doctor visit is $20.

  • If you’ve paid your deductible: You pay $20, usually at the time of the visit.
  • If you haven’t met your deductible: You pay $100, the full allowable amount for the visit.
  • Partial deductible payments incur hybrid fees.

Copayments (sometimes called “copays”) can vary for different services within the same plan, like drugs, lab tests, and visits to specialists. Generally plans with lower monthly premiums have higher copayments. Plans with higher monthly premiums usually have lower copayments.

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

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Invite Dr. Marcinko | The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants

BY DR. DAVID E. MARCINKO MBA CMP®

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SPONSOR: http://www.CertifiedMedicalPlanner.org

Co-Pay Cards May Be Creating More Controversy Instead of Solutions

Instead of reducing the actual price of their excessively priced medications, many companies have opted to provide co-pay cards / coupons as an affordable solution. However, co-pay cards may only lower the cost for some consumers and patients.

Novartis: https://www.copay.novartispharma.com/nvscopay/#

Pfizer: https://www.pfizerpro.com/co-pay-cards-patient-savings-offers

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See the source image

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But – The insurer is still left to pay the high price, which will eventually be passed back on to the patient / consumers in the form of higher health insurance deductibles. So – It doesn’t really seem like much of a solution when we all end up paying for these co-pay cards / coupons; does it?

Find out more here. (Source: Rebecca Mayer Knutsen, MM&M, 8/26/16)

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MEDICAL OFFICE CREDIT CARDS:

We stopped taking credit cards altogether. The only credit cards we take are for call-in payments of balances. We have placed ATM machines in our lobbies and we educate patients in advance of their visits that we only take cash or check. Our cash income has increased, our credit card fees have decreased, and we make $1.50 from each transaction through our ATM. Our patients have taken to the idea so much that they use the ATM for personal cash for other transactions because our fee is the lowest of any ATM. It has been a win-win-win.  

–Dr. Farshid Nejad, Beverly Hills, CA [PM Magazine]

***

For anyone contemplating taking credit cards for payments or copayments in your office, please be aware that some of the credit card companies require you to sign a contract. Don’t do that! If you do and you either have a problem with the company or find out that they are overcharging you, they will hold you responsible for the contract and may take you to court. There are enough credit card companies out that that do not require contracts and are highly competitive. 

-Dr. Elliot Udell, DPM, Hicksville, NY [PM Magazine]

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About iMBA Inc., Educational Events

Posted on February 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Bridging the Medical School – Financial Services Industry & Business Education Gap

imba inc

[By Ann Miller RN MHA]

***

iMBA Inc., routinely presents to residents and fellows across the country on a variety of medical, financial, accounting and practice management related topics.

Whether on-site or via webinar, our educational sessions are tailored to fill the finance, economic, practice management, business and practice management educational gap and to provide physicians and allied healthcare professionals with practical advice and strategies to help make sound financial and business decisions.

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Our firm works exclusively with physicians and their advisors, and we understand the stresses and financial pitfalls that are unique to the medical profession. We are doctors who are passionate about equipping, training, and advising physicians so they can work toward achieving their professional and financial goals.

We can tailor our presentations to the needs of the program or group. Above all, we aim to empower residents and fellows with the knowledge they’ll need to succeed financially as they begin their career in private practice or in academics.

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Successful team of doctors at a meeting

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In addition to speaking with individual programs, we speak with House Officers Associations, Fellowship & Residency Associations, Spouse Support Groups, etc. We are regularly invited to present at Grand Rounds, weekly practice management gatherings, and after-hours dinners.

Educational sessions can be done either on-site or via webinar.

Assessment

To see a list of presentations and topics, click here:

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Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

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Filed under: Career Development, Financial Planning, iMBA, Inc., Practice Management, Recommended Books | Tagged: , , , | 2 Comments »

PODCAST: Nuance DAX: Conversational Healthcare A.I.

Posted on February 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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In the patient-physician relationship, time is precious. Nuance DAX helps physicians to focus on patient care during appointments—instead of paperwork and documentation. Nuance DAX uses sophisticated conversational AI and ambient technology to capture and contextualize the patient encounter, reducing documentation time by 50%.

Learn more.

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

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Filed under: "Doctors Only", Ethics, Information Technology, Videos | Tagged: , , , , , , | Leave a comment »

PODCAST: JP Morgan Healthcare Conference 2023

Posted on February 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

EXPLAINED

By Eric Bricker MD

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It is a healthcare investor conference where investors meet with digital health companies, not-for-profit hospital systems, insurance carriers, biotech and med device companies.

The J.P. Morgan Healthcare Conference is invite-only. There is no large exhibition hall. The agenda is not published.

Most of the ‘action’ happens outside the conference with private meetings across the city.

Most people who attend are not invited and they just go for the private meeting opportunities.

Hear a summary of the 2023 J.P. Morgan Healthcare Conference from This Week Health‘s Bill Russell and his guest Rob, DeMichiei–the former CFO of UPMC.

Hospital systems actually have a plan to cut costs for the first time in AGES.

Insurance carriers are going to become healthcare providers themselves.

Will insurance carriers eat hospitals’ lunch? etc.

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

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ORDER: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko

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Filed under: "Advisors Only", "Doctors Only", Accounting, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Practice Management, Professional Liability, Taxation, Videos | Tagged: , , , | Leave a comment »

PODCAST: Financial Planning and Medical Business Management Mistakes of Independent Doctors

Posted on February 9, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Entrepreneurial MD

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In this episode, host Christopher Hughey talks to Steven Huskey about the financial, management and planning mistakes many independent doctors make when setting up their own medical practice.

PODCAST: https://www.theentrepreneurmd.com/search?query=mistakes

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COMMENTS APPRECIATED

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***

ORDER: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko

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

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

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Filed under: "Doctors Only", Career Development, Experts Invited, Health Economics, Healthcare Finance, Insurance Matters, Investing, Marketing & Advertising, Practice Management, Professional Liability, Risk Management | Tagged: , , , , , , , , | Leave a comment »

ARTIFICIAL INTELLIGENCE: Google V. Microsoft

Posted on February 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

The AI Gloves are Coming Off?

By Staff Reporters

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Google (GOOG, GOOGL) just announced several new AI-powered features for its Search, Maps, and Lens apps. The announcement comes just a day after rival Microsoft (MSFT) rolled out a new version of its Bing search engine complete with generative AI capabilities, bringing a rare threat to Google’s search supremacy.

But, shares of Google parent company Alphabet were down more than 7% today as investors expressed skepticism about these new features.

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

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***

Filed under: "Ask-an-Advisor", Ethics, Information Technology, Investing, LifeStyle | Tagged: , , , , , , , , , | 1 Comment »

PODIATRY PREP: Pass All Your Board Certification Examinations

Posted on February 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Celebrating 30 Years of Your Success!

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pod_prep_text

Pass ALL the Certification Boards!

By: http://www.PodiatryPrep.org

The Foot and Ankle Research Consortium, Inc. (FARC) is the leading publisher of Podiatric educational software. Since 1992, we have been producing the most effective and innovative method of preparing for ALL the Podiatry Board Examinations.

CURIOUS STUDY: Hallux Valgus Met I

SCARF: scarf osteotomy

This includes: The American Board of Podiatric Surgery, The American Board Of Podiatric Orthopedics and Primary Podiatric Medicine, the American Podiatric Medical Specialties Board, ABLES and the PMLexis. (Now includes the latest information for all Board Re-Certifications).

CONTENTS: https://podiatryprep.org/compatibility-test/

Customization and private  tutoring services also available.

FAN CLUB: https://podiatryprep.org/podiatryprep-fan-club/

doctor_pass2

PURCHASE – PREPARE – PASS®

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

GOOD LUCK!

Thank You

BUSINESS: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko

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Filed under: "Doctors Only", Career Development | Tagged: , , , , , | 1 Comment »

“Armageddon” of Financial Markets?

Posted on February 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Is the U.S. equity market eventually going to collapse?

By Klaus Grobys

University Vaasa

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  • The US stock market could face collapse by 2050, according to new research by a Finnish economist.
  • That’s because US stock growth is unsustainable, and a crash is bound to happen in the coming decades. 
  • The findings of the study mirror recent commentary from Wall Street legends, who are warning of an epic wipeout.

The next few decades could bring on an epic stock market collapse, according to a Finnish economics professor and researcher from the University of Vaasa who’s sounding the alarm over an “armageddon” financial crisis.

READ: https://www.researchgate.net/publication/367340195_Armageddon_of_Financial_Markets_Is_the_US_equity_market_eventually_going_to_collapse

COMMENTS APPRECIATED

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***

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

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Filed under: Experts Invited, Investing | Tagged: , , , | 1 Comment »

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