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A HEAD-2-HEAD COMPARISON
By Eric Bricker MD
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Filed under: Drugs and Pharma, Experts Invited, Funding Basics, Health Economics, Health Insurance, Healthcare Finance, Videos | Tagged: amaxon pharmacy, Amazon, Amazon drugs, Amazon Pharmacy, cheaper drugs, discount drugs, drug costs, drug prices, Eric Bricker MD, GoodRx | Leave a comment »
How Much?
By Staff Reporters
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Grant Cardone is a self-made millionaire, author and sales training expert. He recommends hitting a lofty savings goal — $100,000 — and then investing any money earned after you hit that amount. “You need to prove to yourself that you can go out and get money,” he wrote in a 2018 post for CNBC. “Saving $100,000 shows that you have an ability to make money and then to keep it. Most people can’t do either of those things. Once you can earn and save, then you can start building wealth.”
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NEF: https://www.aol.com/finance/much-cash-stashed-national-emergency-113034956.html
PHYSICIANS: https://medicalexecutivepost.com/2007/12/05/emergency-funds/
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Designated a Doody’s CORE TITLE
To keep up with the ever-changing field of health care, we must learn new and re-learn old terminology in order to correctly apply it to practice. By bringing together the most up-to-date abbreviations, acronyms, definitions, and terms in the health care industry, the Dictionary offers a wealth of essential information that will help you understand the ever-changing policies and practices in health insurance and managed care today. For Further Information.
The Dictionary of Health Insurance and Managed Care lifts the fog of confusion surrounding the most contentious topic in the health care industrial complex today. My suggestion therefore is to ‘read it, refer to it, recommend it, and reap’.”
—Michael J. Stahl,PhD, Physician Executive MBA Program, William B. Stokely Distinguished Professor of Business, The University of Tennessee, College of Business Administration
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AMA ECONOMICS: https://medicalexecutivepost.com/2022/08/01/ama-to-teach-medical-students-about-health-economics/
Health Economics: https://medicalexecutivepost.com/2022/07/31/podcast-history-applied-to-health-economics/
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Filed under: "Doctors Only", Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Managed Care, Op-Editorials, Videos | Tagged: Eric Bricker MD, Health Economics, Health Insurance, Hospital CFOs, Hospital Revenue Per Doctor | Leave a comment »
By Staff Reporters
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Such underlying momentum has helped the S&P 500 climb 17.2% from its 2022 low touched in mid June, bolstered by hopes that a peak in inflation will allow the Federal Reserve to be less aggressive in hiking borrowing costs.
Poor economic data from China and a miserable survey of U.S. east coast manufacturing released at the start of the week may also provide the Fed with a reason to adopt a less hawkish stance. Consequently, some of the current session’s caution may reflect wariness ahead of a further update on Fed thinking due Wednesday, when the central bank releases the minutes of its latest monetary policy meeting. The U.S. 10-year Treasury yield is TMUBMUSD10Y, 2.801% up 1.2 basis points to 2.799%.
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Filed under: Alerts Sign-Up, Investing | Tagged: bullish summer, stock surge, stocks surge, UPDATE: The Bullish Summer Stock Surge? | Leave a comment »
By Stephen Kelley, CSA
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As a Registered Investment Adviser (RIA) with a Series #65 securities license, we hold a fiduciary duty to you. This means that we are legally bound to put your interests above those of anyone else, including ourselves.
Now you might reasonably think that anyone offering financial advice or services to clients is required to be a fiduciary. Sadly, if you thought that, you’d be wrong. Some estimates claim that only 15 percent of advisors have a fiduciary duty to their clients. The Paladin Registry puts the number even lower, estimating that just one in 12 (8.3 percent) advisors have a fiduciary responsibility.
For the most part, stockbrokers (also called “Registered Representatives,” “Account Executives,” “Financial Advisors,” or “Wealth Managers”) are not fiduciaries, even though they are allowed to portray themselves as full-service investment advisors. If your stockbroker/registered representative/account executive/financial advisor/wealth manager holds a series seven [#7] securities license, then it’s probable that they aren’t a fiduciary.
This was made amply clear in the movie, “The Wolf of Wall Street,” a biopic about Jordan Belfort, a stockbroker who made his fortune selling junk stocks and bonds to middle-class investors: in other words, by cheating them. Much of it was perfectly legal. The SEC went after Belfort’s company, Stratton Oakmont, for nearly a decade before it was able to shut it down. The point being that even in the face of egregious wrongdoing, theft, fraud and a virtual sea of drugs and blatant hedonism, the securities laws in this country are so loose that it took billions in theft and a decade of suspected and known fraud to step in and stop the abuse. And this movie was based on a true story.
That’s why a fiduciary duty is so important to a client. Being a fiduciary is a legal distinction. A Registered Investment Advisor (RIA) or Investment Advisor Representative (IAR) who holds a Series #65 securities license, subject to the Investment Advisers Act of 1940, is a fiduciary. The legal investment advising standards that govern a non-fiduciary stockbroker and a fiduciary Registered Investment Advisor are very different.
A Registered Investment Advisor is legally required to follow the “trust” standard — the highest known in law — which requires it to place the interests of its clients ahead of its own and fulfill critical fiduciary duties of trust and confidence. Under the fiduciary trust standard, a Registered Investment Advisor must provide its “best advice” to a client. A non-fiduciary stockbroker (like the coveted Series #7 of “The Wolf of Wall Street”) follows only the “suitability” standard, which doesn’t require a stockbroker to place the interests of his clients ahead of its own. Under the non-fiduciary suitability standard, a stockbroker need provide only “suitable advice” to his clients — even if the stockbroker knows that the advice is not the best advice for the client.
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The table below helps summarize which professionals are fiduciaries.
| Type of Professional | Are They A Fiduciary? |
| Physician | Yes |
| Lawyer | YES/Maybe |
| CPA | No |
| Trust Officer | Yes |
| Stock Broker | No |
| Insurance Agent | No |
| Registered Representative | No |
| CFP Practitioner | Maybe |
| Financial Planner | Maybe |
| Registered Investment Adviser | Yes |
| NAFPA-Registered Financial Advisor | Yes |
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MORE: https://medicalexecutivepost.com/2022/05/21/an-interview-with-bennett-aikin-aif/
RELATED: https://www.kitces.com/blog/the-4-different-types-of-financial-advisor-fiduciaries/
CFPs: https://medicalexecutivepost.com/2016/11/18/why-we-cannot-assume-cfp-equals-fiduciary/
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Filed under: "Doctors Only", Accounting, Career Development, Ethics, Financial Advisor Listings, Financial Planning, Glossary Terms, Investing, Op-Editorials, Quality Initiatives, Risk Management, Taxation | Tagged: fiduciary, fiduciary client responsibilities, Stephen Kelley | Leave a comment »
By Eric Bricker MD
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BUSINESS MEDICINE: 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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By Staff Reporters
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Limiting the $35 cap on the price of insulin only to Medicare members is not that consequential, experts said. While the cost of insulin has skyrocketed over the years, many people with private insurance already pay no more than that amount. About a fifth of those who take insulin and have health coverage through large employers pay more than $35 a month for the medication, according to an analysis from the Kaiser Family Foundation. More than a quarter of people with Affordable Care Act policies and nearly one-third of those insured through a small employer pay more than that threshold.
Some private insurers and states are taking action to help Americans afford the drug. UnitedHealthcare will eliminate out-of-pocket costs for insulin for certain policyholders starting next year, while 20 states have placed caps on co-payments. Also, two drug makers are working on inexpensive versions of the insulin medication, while some other manufacturers are offering deep discounts for certain patients. “Bottom line is I don’t think stripping it out will have a major impact on the private sector,” Gerard Anderson, a professor of health policy and management at Johns Hopkins University, said of the insulin cap.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: "Ask-an-Advisor", Drugs and Pharma, Ethics, Glossary Terms, Health Economics, Health Insurance, Healthcare Finance | Tagged: insulin, insulin cap, Insulin Price Cap | 1 Comment »
By Michel Accad MD
Michel Accad, MD, practices internal medicine and cardiology in San Francisco.
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READ: http://alertandoriented.com/the-subjective-theory-of-bitcoin/
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INFORMATION TECHNOLOGY: 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: iMBA, Inc. | Tagged: Bitcoin, MICHEL ACCAD, Subjective Theory of Bitcoin | Leave a comment »
By Staff Reporters
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U.S. Treasury Secretary Janet Yellen told the Internal Revenue Service commissioner that if the Inflation Reduction Act becomes law additional IRS resources should not be used to increase audit rates on taxpayers making under $400,000 a year. “This means that, contrary to the misinformation from opponents of this legislation, small business or households earning $400,000 per year or less will not see an increase in the chances that they are audited,” Yellen said in a letter to IRS Commissioner Charles Rettig.
Meanwhile, the nationwide average price for a gallon of gas dropped to $3.99 according to AAA. That’s down 20% from the mid-June high, and it’s the first time the average has dipped below $4 since early March. Gasoline prices usually rise and fall with the cost of oil, and crude has also been dropping. The U.S. benchmark price is down nearly one-fourth since early June. Other factors are also behind this year’s roller-coaster ride in energy prices. Gasoline prices hit a record $5.02 on June 14. At the time, U.S. crude was about $120 a barrel and the benchmark international price was even a couple dollars above that. Since then, however, oil prices have tumbled.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Alerts Sign-Up, Industry Indignation Index, Investing, LifeStyle | Leave a comment »
By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Ethics, Experts Invited, Glossary Terms, Health Economics, Health Insurance, Healthcare Finance, LifeStyle, Quality Initiatives | Tagged: Eric Bricker MD, financial literacy, Health Literacy, Health Literacy and its Role in Financial Literacy | Leave a comment »
By Staff Reporters
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Inflation eased off historically high levels in July, raising hopes that a relentless surge in prices may have peaked. Consumer prices increased 8.5% from a year ago, down from a 9.1% annual rise – a 40-year high – in June, according to the Labor Department’s Consumer Price Index. Gasoline prices fell but food and rent continued to march higher. Economists surveyed by Bloomberg had estimated yearly inflation would fall to 8.7%. On a monthly basis, consumer prices were unchanged, compared to a 1.3% rise in June. Core prices, which exclude volatile food and energy items and generally provide a better gauge of future trends, increased 0.3% in July following a 0.7% rise the prior month. That held the annual increase at 5.9% after three straight monthly declines.
And, in a bit of good news for aged Americans, Social Security payments may take their biggest jump in years. The surge could be as high as 10%, which is larger than recent increases in the consumer price index. Social Security carries an official name of the “Old-Age, Survivors, and Disability Insurance (OASDI).” Even the rich can get benefits. The income calculation tops out at a maximum of $142,800.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Insurance Matters, Investing, LifeStyle | Tagged: inflation, OASDI, Old-Age, social security, Survivors | Leave a comment »
By NIHCM
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: "Doctors Only", Career Development, Experts Invited, Investing | Tagged: Geographic Variation in Private Equity Penetration Across Physician Specialties, NIHCM, Private Equity | Leave a comment »
By Charles Schwab
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| Stay alert for investment scams involving cryptocurrency |
| At Schwab, we’re committed to helping you protect your assets. One way we do that is by raising awareness of the increase in fraudulent investment schemes (“scams”) involving cryptocurrencies and digital assets. While investing involves taking some risks, being scammed shouldn’t be one of them. |
| What do scams look like? Investment scams target investors by promising quick, guaranteed returns. Although “investment pitches” vary, using fraudulent cryptocurrency investment opportunities to entice targets is a common approach. Once targeted investors indicate interest, they are often instructed to wire funds abroad or to a third party’s personal account, or to transfer cryptocurrency. Fake websites and/or applications often create the illusion of a legitimate trading or investment platform and gain trust. However, once funds have been transferred, they are difficult to trace and retrieve. |
| 5 Investment Scam Red Flags |
| • Guaranteed” high investment returns, supposedly with little or no risk, and sounding too good to be true. • Unlicensed or unregistered sellers. Use Investor.gov to check out the background of anyone offering you an investment in securities. • Skyrocketing account values. Investments that appear to rapidly increase in value are often fake. • Fake testimonials. Scammers often pay people to provide fake reviews, so never rely solely on testimonials in making an investment decision. • Fake contacts. Take caution if someone approaches you through social media with an investment opportunity. Pretending to be a friend or to have a mutual acquaintance is a common tactic used to gain trust. |
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MORE: https://medicalexecutivepost.com/2022/02/22/cryptocurrency-trades-and-income-taxes-2021/
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Filed under: "Advisors Only", Accounting, Experts Invited, Financial Planning, Information Technology, Investing, Taxation | Tagged: Charles Schwab, crypto, cryptocurrency scams, scams, Stay Alert for Investment Scams Involving Cryptocurrency | Leave a comment »
By Staff Reporters
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The biggest revenue-raiser of the IRA is a 15% minimum tax on corporations with profits of $1 billion or more, which is expected to generate $258 billion over 10 years. This addresses the problem of the rampant tax dodging among large companies that has mostly benefited wealthy shareholders and executives. The bill includes a 1% excise tax on companies’ stock buybacks, raising an estimated additional $74 billion. This will discourage corporations from siphoning resources into share repurchases that largely benefit shareholders and executives with stock-based pay. Those resources could instead go toward worker wages or other productive investments. And the bill would boost IRS enforcement to ensure the ultra-rich pay.
Finally, the Inflation Reduction Act would also extend a tax limitation on pass-through businesses for two more years. The limitation on how businesses can use losses to reduce taxes is supposed to expire at the start of 2027. A pass-through or flow-through business is one that reports its income on the tax returns of its owners. That income is taxed at their individual income tax rates. Examples of pass-throughs include sole proprietorships, some limited liability companies, partnerships and S-corporations.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: "Ask-an-Advisor", Accounting, Breaking News, Taxation | Tagged: Inflation Reduction Act, IRA, IRS, Pass-Thru Business Entities | Leave a comment »
By Dr. David Edward Marcinko MBA
An Essential Document for Start-Up Practices
The analog to a personal financial plan is the medical practice business plan. While mature practitioners may casually be familiar with some elements of the former by default, most new physicians are totally unfamiliar with requirements of the later.
The Need
Unfortunately, without an initial business plan, the need for a personal financial plan may become moot. This is because absent financial backing from family, friends or a cushy nest egg, the business plan is a key tool for raising start-up capital for a new medical practice. It may also be demanded by a commercial bank, or the Small Business Administration (SBA), for a loan to finance growth of an existing practice; despite the use of new asset based lending and accounts receivable factoring techniques.
On the other hand, a comprehensive business plan may be required by investment bankers for funding purposes; in exchange for a healthy percentage of your future large group practice.
Standard Plan Format
The following format for medical business plan writing can be used for every new practice, established practice or simply an existing practice that wishes to expand or establish a new service or product line to its existing offers.
The format for any written business plan is somewhat standard. It usually contains at least the following topics and sub-topics, and perhaps many more depending on your specialty with a varying emphasis on some sections or a de-emphasis of others; also depending on the practice and covering no more than 25-40 numbered pages:
· Cover Sheet
· Table of Contents
· Physician Executive Summary (Statement of Purpose)
· Physician Credentials
· Mission Statement
· Goals and Objectives (Risks and Rewards)
· Business Office Form
· Operational and Facilities Management
· Marketing Plan
· Business Competition
· Patient Targeting
· Advertising Methodology
· SWOT Analysis
· Practice Philosophy
· Human Resources and Personnel
· Financial Management
· Financial and Operating Budget
· Proforma Financial Statements
· Exit Strategy
Assessment
In the past, perhaps the two most important components of a medical business plan were [1] physician credentials and [2] the business model. Today; it is the exit strategy!
Have you ever written a medical office business plan and what was the outcome?
Link: MBA Capstone Business Planning
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.
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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
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Filed under: Career Development, Marketing & Advertising, Practice Management | Tagged: business plan, Crafting a Business Plan and Starting a Medical Practice, Marketing & Advertising | 2 Comments »
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By Bertalan Meskó, MD PhD
I hope you will find the newsletter useful!
Best regards,
Berci Meskó, MD
The Medical Futurist
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Filed under: Career Development, Ethics, Experts Invited, Op-Editorials | Tagged: Bertalan Meskó, future trends medical specialty, medical futurist, medical specialties | Leave a comment »
By Nisha Mehta MD
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Filed under: "Doctors Only", Career Development, Ethics, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Managed Care | Tagged: Medicare Fee Cuts, Nisha Mehta MD | Leave a comment »
By Staff Reporters
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Japanese technology company SoftBank Group posted a $23.4 billion loss in this April-June quarter as the value of its investments sank amid global worries about inflation and interest rates. SoftBank Group Corp.’s loss of 3.16 trillion yen was a reversal from its 762 billion yen profit in the same quarter a year earlier. The company said that quarterly sales rose 6%. And, for the fiscal year that ended in March 2022, Softbank racked up losses of 1.7 trillion yen ($13 billion), a reversal from the 4.9 trillion yen profit for the previous year. Annual sales grew 10.5% to 6.2 trillion yen ($46 billion).
The Treasury Department has imposed sanctions on virtual currency mixer Tornado Cash, which has allegedly helped to launder more than $7 billion worth of virtual currency since its creation in 2019. Treasury’s Office of Foreign Assets Control says Tornado Cash’s systems were used, among other things, to launder more than $96 million drawn from the June Harmony blockchain bridge theft and August Nomad crypto firm heist. Mixing services combine various digital assets, including potentially illegally obtained funds and legitimately obtained funds, so that illegal actors can obscure the origin of the stolen funds. Secretary of State Antony Blinken said in a statement that the U.S. “will continue to pursue actions against mixers laundering virtual currency for criminals and those who assist them.”
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Glossary Terms, Investing | Tagged: crypto currency, SoftBank, The SoftBank Group & Tornado Cash, Tornado Cash, UPDATE: The SoftBank Group & Tornado Cash! | Leave a comment »
Centers for Disease Control and Prevention
By Staff Reporters
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READ HERE: https://www.cdc.gov/poxvirus/monkeypox/index.html
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Filed under: Breaking News, Ethics, Experts Invited, LifeStyle, Research & Development | Tagged: CDC monkeypox, monkeypox | Leave a comment »
By Staff Reporters
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Home builders face multiple demand and supply-side pressures. On the demand front, potential home buyers have receded from the market. Existing home sales slid 5.4% in June. Meanwhile, borrowing capacity has been curtailed by rising interest rates. The average mortgage rate has accelerated at the fastest pace in 35 years. A 15-year fixed rate mortgage is now about 4.8%, up from 2.2% a year ago. These factors have effectively destroyed demand. Meanwhile, the supply chain for home building material and the cost of labor continues to increase the cost of building new homes. This is why home builders’ sentiment dropped 12 points in June, according to the NAHB survey.
And, since March, with interest rates rising, the housing market cooling, and new home construction falling, demand for lumber has declined—and prices have followed suit. Lumber futures fell to just $500 per thousand board feet on Friday, or 62% below January’s $1,329 high.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, Investing, Research & Development | Leave a comment »
By Staff Reporters
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One in eight people develop long COVID after being infected with the coronavirus, a new study has shown.
It is the first research to measure long-term symptoms in both infected and non-infected people and therefore creates a more accurate distinction between symptoms caused by long COVID and those from other reasons such as stress or insomnia.
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Filed under: "Ask-an-Advisor", Ethics, Experts Invited, Glossary Terms, Health Insurance, LifeStyle, Research & Development | Tagged: Covid Symptoms, covid virus, Danny Halpin, Long Covid, Long Covid Symptoms, Long Covid-19 virus symptoms | Leave a comment »
By Staff Reporters
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The Biden administration is expected to extend the Covid-19 public health emergency once again, ensuring that federal measures expanding access to health coverage, vaccines and treatments remain in place beyond the midterm elections, three people with knowledge of the matter told POLITICO. The planned renewal follows extensive deliberations among Biden officials over the future of the emergency declaration, including some who questioned whether it was time to let the designation lapse.
Under the proposed extension, the Department of Health and Human Services would continue the declaration beyond the November elections and potentially into early 2023 — pushing the U.S. into its fourth calendar year under a Covid public health emergency. “Covid is not over. The pandemic is not over,” one senior Biden official said. “It doesn’t make sense to lift this [declaration] given what we’re seeing on the ground in terms of cases.”
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Filed under: Breaking News, Ethics, Experts Invited, Glossary Terms, LifeStyle | Tagged: Adam Cancryn, COVID health emergency, David Lim, POLITICO, public health, public health emergency | Leave a comment »
Gossip -OR- True
By Staff Reporters
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1. Oracle insiders describe “complete chaos” from layoffs and restructuring. Oracle began a sizable layoff, potentially impacting thousands of employees — and those who haven’t yet been laid off are scrambling to figure out whether they’ll be next.
2. The FOMC is deepening its investigation into Amazon’s Prime sign-up and cancellation process. The FTC sent out subpoenas and other demands for information after Insider reporting. Here’s our scoop on what’s going on.
3. Axed “Robinhoodies” say they were tipped off to layoffs weeks ago. Former employees said they saw signs of belt-tightening — including plans to shrink office space — long before the company laid off 23% of its staff. Five former employees took us behind the scenes.
4. Elon Musk’s counter-suit against Twitter says the company is operating a “scheme” to mislead investors. Musk argued that he is entitled to drop the deal entirely — and Twitter pushed back, saying the billionaire’s story is “implausible.” Get the big takeaways.
5. Nike is offering $5,000 employee bonuses for some tech job referrals. Grappling with internal turmoil and a wave of exits, the company announced the new referral program, met with mixed reviews from employees. Here’s what we know.
6. Fifteen current and former Apple female employees say the company dismissed claims of misconduct. After the Financial Times reported the HR unit retaliated against some of them after speaking up about the incidents, Apple vowed to “make changes.” What we know so far.
7. Startup founders’ mental health is crumbling. Dried-up funding and the stress of a turbulent economic year has piled stress on founders who are already trying to do the impossible: build iconic tech companies. Why some founders “are especially not OK.”
8. Elon Musk denied that he’s planning to build his own private airport in Texas. Local news site Austonia reported last week that an airport could help grow his companies in the region, but Musk said that’s “not true” Get the full rundown here.
9. Mark Zuckerberg is minting an NFT of his Little League baseball card. In a post announcing Instagram’s expanded support for NFTs, Zuckerberg shared his own “soon-to-be NFT.” See the potential digital collectible of a young Zuck.
10. Unsend text messages using iOS 16. iPhone users with iOS 16 will have 15 minutes to un-send a text — and delete it from the recipient’s phone. How it works and how to do it.
READ HERE: https://medium.com/quantum-leap/future-technology-roundup-748cd03e04f6
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Alerts Sign-Up, Experts Invited, Glossary Terms, Information Technology | Tagged: Information Technology, Technology, Technology Round-Up | Leave a comment »
WHAT IS THE “EX-DIVIDEND” STOCK DATE?
By Staff Reporters
DEFINITION: Occurs when dividends are declared by a company’s board of directors, they are payable on a certain date (“payable date”) to shareholders recorded on the company’s books as of a stated earlier date (“record date”).
Purchasers of the stock on or after the record date are not entitled to receive the recently declared dividend, so the ex-dividend date is the number of days it takes to settle a trade before the record date (currently three business days). A stock’s price on its ex-dividend date appears in the newspaper with an X beside it.
CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Financial Planning, Investing | Tagged: dividend paying stocks, dividends, ex-dividend date | 5 Comments »
FOR COVID-19 TREATMENT
By Staff Reporters
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Filed under: Drugs and Pharma, Ethics, Quality Initiatives | Tagged: Covid-19, Paxlovid, Paxlovid and Pharmacists | Leave a comment »
By Staff Reporters
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Amid a monkey-pox outbreak in the United States that has been declared a public health emergency, the nation’s top infectious-diseases expert, Anthony S. Fauci, said people should be paying attention but not panicking.
Fauci recently told WTOP News that people do not need to change the way they live their lives but should monitor the situation and adjust behaviors as more information becomes available. “You never blow off any emerging infection when you don’t know yet where it’s going,” he explained. “You pay attention to it. You follow it. Then you respond to it in an appropriate manner.”
CITE: https://www.cdc.gov/poxvirus/monkeypox/index.html
READ: https://news.yahoo.com/monkeypox-now-national-public-health-122136476.html
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Filed under: Breaking News, Glossary Terms, Health Law & Policy, LifeStyle | Tagged: monkey-pox, MONKEY-POX Domestic Outbreak, monkeypox, public health emergency | Leave a comment »
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Filed under: Investing | Tagged: bonds, Corporate Dividends, dividends, Investing, stocks, Vitaliy Katsenelson CFA | 1 Comment »
By Staff Reporters
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The sizzling-hot July jobs report could force the Federal Reserve to continue raising interest rates at the fastest pace since 1994 as it tries to cool inflation and the labor market. U.S. employers unexpectedly added 528,000 jobs in July, a surprisingly strong gain that defied fears of a slowdown in labor markets as they confront scorching-hot inflation and rising interest rates. Wage growth also accelerated, surging by 0.5% in the one-month period from June. But the blowout jobs report, coupled with higher-than-expected wage growth, could ultimately pave the way to a third consecutive interest rate hike of 75 basis points — triple the usual size — when FOMC policymakers meet in September. Therefore, traders are already pricing in a 70% chance of another super-sized increase in the fall, according to the CME Group’s FedWatch tool, which tracks trading.
And, the 10-year Treasury yield rose on the back of a stronger-than-expected jobs report for July. The yield on the 10-year Treasury was 2.83%, and the yield on the 30-year Treasury bond was up 10 basis points and trading at 3.068%. Meanwhile, the 2-year was up 20 basis points to 3.242%. Yields move inversely to prices. The data showed non-farm payrolls increase 528,000 last month and surpassed DJIA’s expectations of 258,000. At the same time, wage growth rose with average earnings climbing 0.5% for the month and 5.2% over last year. The stronger than anticipated report showed that the U.S. is not likely in a recession. This move marks a reversal from the recent trend that saw the 10-year yield trending lower on fears the Fed’s hiking campaign was tipping the economy into a recession. Earlier this week, the 10-year yield fell to 2.50% and its lowest since April, according to FactSet.
CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Alerts Sign-Up, Experts Invited, Financial Planning, Glossary Terms, Investing | Tagged: 10 year note, 10 year treasury note, CME Group, FactSet, FedWatch, FOMC, jobs report | Leave a comment »
Including Public Relations, Risk, Change and Crisis Management
By Dr. David Edward Marcinko MBA
Marketing is the business process of identifying, anticipating and satisfying customers’ needs and wants. It is your unique value proposition or strategic competitive advantage. Marketers can direct product to other businesses or directly to consumers.
Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services. Advertising is communicated through various mass media, including traditional media such as newspapers, magazines, television, radio, outdoor advertising or direct mail; and new media such as search results, blogs, social media, websites or text messages. The actual presentation of the message in a medium is referred to as an advertisement, or “ad” or advert for short.
Advertising is differentiated from public relations in that an advertiser pays for and has control over the message. It differs from personal selling in that the message is non-personal, i.e., not directed to a particular individual. We pay for advertising but pray for public relations.
Sales are activities related to selling or the number of goods or services sold in a given targeted time period. The seller, or the provider of the goods or services, completes a sale in response to an acquisition, appropriation, requisition, or a direct interaction with the buyer at the point of sale. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The seller, not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including salesclerk, shop assistant, and retail clerk.
Change management is the discipline that guides how we prepare, equip and support individuals to successfully adopt change in order to drive organizational success and outcomes.
Crisis management is the identification of threats to an organization and its stakeholders, and the methods used by the organization to deal with these threats.
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Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Assessment: Your thoughts are appreciated from a healthcare perspective.
Filed under: iMBA, Inc., Touring with Marcinko | Tagged: advertising, change risk crisis management, marketing, public relations, sales | 6 Comments »
By Staff Reporters
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The director of the nonpartisan Congressional Budget Office [CBO] added his voice Thursday to those economists who say it’s unclear if the economy has hit a downturn, despite posting two straight quarterly drops in growth. “The U.S. economy shows signs of slowing, but whether the economy is currently in a recession is difficult to say,” wrote CBO Director Phillip Swagel in a letter to Sen. Lindsey Graham (R-S.C.). “It is possible that, in retrospect, it will become apparent that the economy moved into recession sometime this year. However, that is not clear from data that were available at the beginning of August,” Swagel added.
Goldman Sachs said its credit card unit is under investigation by the Consumer Financial Protection Bureau, a federal agency tasked with protecting Americans from financial abuse. In a securities filing, Goldman said the CFPB is examining a number of the company’s credit card account management practices, including refunds, resolving billing errors, advertisements and reporting to credit bureaus. And, in a statement to CBS MoneyWatch, Goldman said the bank “is cooperating with the CFPB on this matter.”
Finally, shares of electric vehicle maker Tesla rallied in after-hours trading as the company won shareholder approval for a 3:1 stock split, the second such move in two years, as the world’s most valuable automaker looks to make its stock more affordable.
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FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Ethics, Experts Invited, Industry Indignation Index, Investing, Op-Editorials, Professional Liability | Tagged: CFPB, Goldman Sachs, Phillip Swagel, recession, Tesla | Leave a comment »
| PHYSICIAN REIMBURSEMENT | |
CMS Issues 2023 Physician Fee Schedule Proposed Rule
On July 7, 2022, the Centers for Medicare & Medicaid Services (CMS) released its proposed Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2023. Arguably the most noteworthy provision in the proposed rule is the agency’s suggested cut to physician payments. However, the rule also includes a number of other policy proposals, including changes to Medicare accountable care organizations (ACOs), behavioral health care, cancer screening, and dental care. (Read more…)
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Filed under: "Doctors Only", Accounting, Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Health Law & Policy | Tagged: 2023 Physician Fee Schedule, CMS Issues 2023 Physician Fee Schedule Proposed Rule, CMS Proposed Rule, Health Capital Consultants LLC, Jessica Bailey-Wheaton, TODD A. ZIGRANG | Leave a comment »
By Staff Reporters
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MARKETS: Stocks rebounded after back-to-back losing sessions earlier this week: The Dow Jones Industrial Average was up 1.3%, over 400 points, while the S&P 500 rose 1.6% and the tech-heavy NASDAQ 2.6%. Markets got a boost after a surprise rebound in the U.S. services sector in July, with the ISM non-manufacturing purchasing managers index rising to a reading of 56.7—above 55.3 last month and 54 expected by economists. Investors also cheered comments from St. Louis Federal Reserve President James Bullard, who told CNBC that the U.S. economy is “not in a recession right now” and the Fed will keep hiking rates to bring down inflation. Shares of vaccine maker Moderna surged 16% after reporting strong quarterly profits and announcing $3 billion in share buybacks, while shares of coffee chain Starbucks jumped nearly 5% after similarly beating expectations. But, hawkish remarks from Federal Reserve [FOMC] officials this week suggest investors may be premature in assuming the Fed will be shifting its monetary policy approach anytime soon.The Federal Reserve raised its target fed funds rate by 0.75% last week to a new range of between 2.25% and 2.5%, its second 0.75% rate hike in two months. The market has reacted strongly to commentary by the Fed Chairman.
Venture capital is the latest to feel the pinch from the economic downturn, with venerable Silicon Valley incubator Y Combinator’s Summer 2022 cohort consisting of less than 250 companies, down from over 400 last Winter’s list – a drop of 40 percent.…”The economic downturn and almost certain resulting changes to come in the venture funding environment, as well as the realities of being back in person, led to our decision to reduce the number of companies we funded”. Lindsay Amos, Y Combinator’s communications director, confirmed to The Register that the incubator had done so intentionally, attributing the reduction to the current state of the economy. Despite the downturn, Amos said, Y Combinator’s summer 2022 cohort “is still a large batch relative to the last five years.” Amos said that batch sizes vary because “we are constantly evaluating every aspect of our batches and the environment in which the companies will be operating.”
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FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Alerts Sign-Up, Investing | Tagged: Lindsay Amos, stock market, Venture Capital, Y combinator | Leave a comment »
By UPI News and Staff Reporters
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Nearly 1 in 4 hospital doctors are mistreated at work by patients, visitors and other doctors, and female doctors are nearly two times more likely than male doctors to face this abuse, a new study reveals.
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“All members of the healthcare team share the responsibility to mitigate mistreatment,” said senior study author Dr. Mickey Trockel, a clinical professor of psychiatry and behavioral sciences at the Stanford University School of Medicine and director of Evidence Based Innovation for the Stanford WellMD/WellPhD Center.
MD Burnout: https://medicalexecutivepost.com/2017/12/03/u-s-hospitals-feeling-the-pain-of-physician-burnout/
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Filed under: "Doctors Only", Career Development, Ethics, mental health, Research & Development | Tagged: Dr. Mickey Trockel, Physician burnout, Physician mistreatment, Physician Mistreatment by Patients, Visitors and Doctors | Leave a comment »
By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: "Doctors Only", Career Development, Drugs and Pharma, Ethics, Experts Invited, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Videos | Tagged: EHRs, electonic prescribing, EMRs, Eric Bricker MD, PBM, PBMs, Surescripts, Surescripts [Gatekeeper for Electronic Prescribing Explained] | Leave a comment »
By Claire
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While the Inflation Reduction Act of 2022 looks good on paper, it will actually do more harm than good if it passes. The plan would hurt working-class taxpayers and small business owners across the country.
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READ: https://wealthofgeeks.com/irs-expansion/
MORE: https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf
FINANCIAL PLANNING: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko
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Filed under: Accounting, Breaking News, Experts Invited, Investing, Taxation | Tagged: Clair, inflation, Inflation Reduction Act 2022, wealthofgeeks | Leave a comment »
By Staff Reporters
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The US dollar index, which measures the greenback’s performance against six other currencies including the Japanese yen, slipped 0.52% to trade at $105.35 – its lowest since July 5th. The safe-haven currency has endured sharp sell-offs in recent weeks, only rising on two days since mid-July as a “sell-the-fact” reaction hits markets over expectations that the Fed will become less aggressive in its monetary policy after data showed US GDP contracted for two straight quarters – the technical definition of a recession.
London-based BP earnings tripled and underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, jumped to $8.45 billion from $2.80 billion in the same period a year earlier. The soaring earnings allowed BP to return billions of dollars to shareholders, with the company boosting its dividend by 10% and announcing that it would buy back $3.5 billion in shares. BP said it expects to increase dividends by about 4% annually through 2025.
Moreover, job openings in the U.S. fell to 10.7 million in June to mark the lowest level since last fall, signaling that a red-hot labor market is cooling off a bit as the economy slows. Job openings slipped from 11.3 million in May. They have dropped three months in a row after peaking in the early spring at a record 11.9 million.The last time job openings dipped below 11 million was in November last year. The number of people who quit jobs in June, meanwhile, only fell slightly to 4.23 million, the Labor Department said Tuesday. Quits topped 4 million one year ago for the first time ever, part of a pandemic-era trend that’s become known as “the great resignation.” Before the pandemic, the number of people quitting jobs averaged fewer than 3 million a month.The high number of people quitting jobs suggests the labor market is still quite robust, though. Most people who quit usually find a better job. Layoff also stayed at historically very low levels. Big picture: The economy is cooling off — and so is a sizzling labor market.
Finally, semi-conductor stocks plunged. For example, shares of Taiwan Semiconductor Manufacturing Company (TSMC)—the world’s biggest and most valuable semiconductor manufacturer valued at $440 billion—fell 2.4%. Its Taiwanese peers United Microelectronics and MediaTek dipped 3% and 1.6%, respectively. Meanwhile, U.S. chip-maker Intel stock dropped 1.5% on the same day.
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INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-
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Filed under: "Ask-an-Advisor", Accounting, Alerts Sign-Up, Financial Planning, Investing, LifeStyle, Op-Editorials | Tagged: BP, BP and the Jobs Report, chip stocks, jobs report, micro-chips, micro-conductors, The US Dollar, US Dollar | Leave a comment »
Healthcare Effectiveness Data & Information Set
By Eric Bricker MD
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#2 PODCAST: https://www.ahealthcarez.com/how-hedis-quality-scores-work
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AMA ECONOMICS: https://medicalexecutivepost.com/2022/08/01/ama-to-teach-medical-students-about-health-economics/
Health Economics: https://medicalexecutivepost.com/2022/07/31/podcast-history-applied-to-health-economics/
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Filed under: "Doctors Only", Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Information Technology, Managed Care, Quality Initiatives, Research & Development, Videos | Tagged: Eric Bricker MD, Healthcare Effectiveness Data & Information Set, HEDIS, HEDIS Explained | Leave a comment »
By Staff Reporters
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Stocks dipped at the start of August. The S&P 500 gave up an early gain to end down 11.7 points, or 0.3%, to close at 4,118.6. The Dow Jones Industrial Average dipped 46.7 points to 32,708, or 0.1%, and the tech-heavy NASDAQ fell 0.2%. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1% lower. Bond yields mostly fell. The yield on the 10-year Treasury, which influences mortgage rates, fell to 2.60% from 2.65% late Friday.
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Jim Rogers warned a historic stock-market crash is on the horizon, touted energy and agriculture as near-term winners, and cautioned that curbing inflation would require much higher interest rates during a recent Kitco News interview. Rogers is best known as the co-founder of Quantum Fund and Soros Fund Management. The veteran investor predicted a painful recession, ruled out bitcoin succeeding as a currency, and asserted that even a Russia-Ukraine peace deal wouldn’t prevent asset prices from eventually plunging.
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And now, some cautionary advice for workers worried about an economic downturn. “It will be mostly a white-collar recession. And the blue-collar recession will not be in the same places that we saw in the past.” That was William Lee, chief economist at the Milken Institute, a Santa Barbara, Calif.-based think tank, in an interview with MarketWatch, speculating on the nature of America’s next recession. Amid rising expectations among economists of a recession — commonly defined as two consecutive quarters of negative growth — Lee said there’s still a demand for blue-collar workers in service and manufacturing, which will help protect those workers if a recession hits. Even with a low unemployment rate of 3.6%, lower-income workers are always vulnerable in any economic downturn, but adding to comments he made on Bloomberg Radio earlier this week, Lee said there may be exceptions to that rule this time around.
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Finally, there’s an optimistic outlook considering June’s hot inflation reading of 9.1%, the fastest rise in prices in 41 years. It prompted another 75-point rate hike from the central bank last week, bringing the policy rate to 2.25%-2.5%. But there are signs the inflation fight is beginning to show results, Fundstrat said. July’s stock market performance was the strongest since November 2020, and inflation expectations have come down since July’s FOMC meeting.
The economy entered a technical recession following the second straight quarterly decline for US GDP, but the market could be looking at a growth scare instead of a full blown recession and inflation should start falling sharply beginning with July’s reading, Fundstrat said in a note over the weekend.
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ORDER: https://www.r2library.com/Resource/Title/0826102549
SECOND OPINIONS: https://medicalexecutivepost.com/schedule-a-consultation/
INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/
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Filed under: Alerts Sign-Up, Financial Planning, Glossary Terms, Investing, Op-Editorials | Tagged: and the Economy, DJIA, economy, Fundstrat, Jim Rogers, Jim Rogers Speaks, NASDAQ, recession, S&P 500, stocks, UPDATE: The Markets | 1 Comment »
By NIHCM
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READ HERE: https://nihcm.org/publications/hospital-consolidation-trends-impacts-outlook
CITE: https://www.r2library.com/Resource/Title/082610254
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NON-TRADITIONAL ACCOUNTING METHODS KNOWN IN THE BUSINESS COMMUNITY BUT NOT USED IN HOSPITALS OR HEALTH CARE ORGANIZATIONS
By Dr. David Edward Marcinko; MBA CMP® CPHQ
SPONSOR: http://www.CertifiedMedicalPlanner.org
Sooner or later – as a practicing physician – you will want to ascertain and then demonstrate the cost effectiveness of your medical care. By using the process of Activity Based Cost (ABC) Management, you will be able to do so.
ALAS: But, if you’re using a traditional accounting system – like most all hospitals today that use the fictional “average wholesale cost” method – you won’t know a thing about your medical practice or clinic activity costs. Hence, again like most all hospitals, fees become simply vacuous.
Here’s how: https://medicalexecutivepost.com/2007/12/15/activity-based-cost-medical-management/
HOW TO READ A SCIENTIFIC PAPER: https://medicalexecutivepost.com/2021/04/09/how-to-read-and-understand-a-scientific-paper/
DETAILED WHITE PAPER–IN-PROGRESS [thru editing but before peer-reviewed publication]: https://medicalexecutivepost.com/wp-content/uploads/2007/12/abcm.pdf
ASSESSMENT: Your thoughts are appreciated.
ORDER TEXTBOOK: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?s=books&ie=UTF8&qid=1287563112&sr=1-9
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Filed under: Accounting, CMP Program, Health Economics, Healthcare Finance, Practice Management | Tagged: activity based accounting, Certified Medical Planner™, CMP Program, cost accounting, David Edward Marcinko, managerial accountihng | 1 Comment »
Seeking Optimal FTE-to-Doctor Ratios
[DR. DAVID E. MARCINKO MBA]
The full-time-equivalent (FTE) – to doctor (provider) – ratio of a medical practice is often more useful to know than the total amount of staff salary expense, according to industry experts like Dr. Jon Hultman MBA, of Los Angeles, CA.
Why? Because comparable salaries have a wide geographic variance; and it is just more expensive to practice in New York City, than it is in Phenix City, Alabama.
Introduction
Payroll (human resources) typically is the largest singe expense and cost-driver of most medical practices. So, an optimal staffing ratio must be determined for every practice, considering quality, productivity and patient satisfaction at the lowest possible cost.
Reducing the FTE ratio, and hence overhead salary expenses, is desirable only when it does not lower productivity, quality or patient satisfaction.
Most FTE ratios are significantly high, with no corresponding benefit to the typical medical practice (if there even is such an entity).
Moreover, this FTE excess establishes an environment for which “idle-time” for any given point is about 30%. And, corresponding redundant or unnecessary “task-time” is about 25%.
In fact, it is often a management truism that smaller FTE ratios may be consistent with higher levels of productivity. On the other hand, lower FTE ratios may actually be consistent with lower levels of productivity, lower medical care quality and higher costs; all other things being equal.
The NAHC Review
The National Association of Healthcare Consultants (NAHC), Statistical Report 2000, is summarized below and was considered reliable at the time because the numbers were reported by accountants, not doctors. More current information is now available.
Nevertheless, these benchmarks may serve as a cogent starting-point for HR budget analysis and FTE evaluation:
Specialty FTE Ratio
Assessment
Now, consider the specialty FTE-to-physician ratios listed above – index them over time for your medical specialty – and consider that famed investor Warren Buffett once said,
“There is a right size of staff for any business operation. For every dollar of sales (professional service income), there is an appropriate level of expense.”
And so, how does your medical practice, clinic or healthcare organization stack-up to current NAHC benchmarks and their resulting HR budgets?
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:
Filed under: Practice Management | 3 Comments »
By Staff Reporters
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According to founder and real estate investing company CARROLL, his company has raised rents up to 30% over the past year. Of course, costs are going up as well. “So as our costs go up — our costs of interest, our costs of renovations, our cost of our employees,” Carroll told Fox Business. “We need to push those increases along through rent increase.” Because of rising property prices, renting has become the only option for a lot of people. “We are seeing a supply-demand imbalance,” he adds. “And now they have a lack of buyers because of mortgage rates. So, again, this has all kind of been a perfect storm for the multifamily business.” While it’s hard to say whether rent increases are sustainable, Carroll says that his company’s occupancy rates are at all-time high.
The stock market could be gearing up for new record highs before year-end as the 2022 bear market is over, Fundstrat’s Tom Lee just said. The biggest takeaway for me on events of this week? Convincing and arguably decisive evidence the ‘bottom is in’ — the 2022 bear market is over.” Lee’s confidence stems from the fact that between a negative GDP print, another 75-basis-point interest rate hike from the Fed, and more natural gas volatility due to Russia’s Nord Stream pipeline drama, a lot of bad news occurred this week and yet the S&P 500 and Nasdaq 100 managed to stage a 3% rally. “When bad news doesn’t take down markets, it is time for investors to assess.” In fact, despite a strong US dollar and heightened economic uncertainty, companies are reporting better-than-feared results. With 52% of the S&P 500 having reported second-quarter earnings already, 73% beat profit estimates by a median 7%.
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Meanwhile, investors will be closely monitoring July’s Nonfarm Payrolls print, with analysts estimating a slowdown in hiring, forecasting the addition of 250K jobs which would be the lowest since December of 2020, while the unemployment rate is expected to hold steady at 3.6%. Other important economic data include final S&P Global PMIs, ISM Manufacturing and Non-Manufacturing PMIs, exports, imports, JOLTS job openings, construction spending and factory orders. Finally, the earnings season continues with a slew of major companies reporting quarterly results, including Eli Lilly and Company (NYSE:LLY), Gilead Sciences Inc (NASDAQ:GILD), Uber Technologies Inc (NYSE:UBER), Caterpillar Inc (NYSE:CAT) and Amgen Inc (NASDAQ:AMGN).
Finally, Bitcoin gained 19% since the beginning of July, which caused the crypto’s Relative Strength Index to correct from 29% on July 1 to the 60% level as of press time. The momentum coming back into Bitcoin has caused the fear and green index measurement to improve slightly from “extreme fear” in June, measuring in at 11, to “fear” in July, measuring in at 39.
ORDER: https://www.r2library.com/Resource/Title/0826102549
SECOND OPINIONS: https://medicalexecutivepost.com/schedule-a-consultation/
INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/
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By Staff Reporters
From: Munich Personal RePEc Archive [MPRA]
Economist Wade Donald Pfau wrote an article called, “Capital Market Expectations, Asset Allocation, and Safe Withdrawal more than a decade ago. Today, is is still a vital read.
Abstract
Most retirement withdrawal rate studies are either based on historical data or use a particular assumption about portfolio returns unique to the study in question.
But, financial advisors and planners may have their own capital market expectations for future returns from stocks, bonds, and other assets they deem suitable for their clients’ portfolios. These uniquely personal expectations may or may not bear resemblance to those used for making retirement withdrawal rate guidelines. The objective here is to provide a general framework for thinking about how to estimate sustainable withdrawal rates and appropriate asset allocations for clients based on one’s capital market expectations, as well as other inputs about the client including the planning horizon, tolerance for exhausting wealth, and personal concerns about holding riskier assets.
The study also tests the sensitivity of various assumptions for the recommended withdrawal rates and asset allocations, and finds that these assumptions are very important. Another common feature of existing studies is to focus on an optimal asset allocation, which is expected either to minimize the probability of failure for a given withdrawal rate, or to maximize the withdrawal rate for a given probability of failure. Retirement withdrawal rate studies are known in this regard for lending support to stock allocations in excess of 50 percent.
Assessment
This study shows that usually there are a wide range of asset allocations which can be expected to perform nearly as well as the optimal allocation, and that lower stock allocations are indeed justifiable in many cases.
Link: MPRA_paper_32973
About MPRA: http://mpra.ub.uni-muenchen.de/information.html
NOTE: Wade Donald Pfau is an Associate Professor of Economics at the National Graduate Institute for Policy Studies (GRIPS) in Tokyo, Japan. His PhD in economics was from Princeton University.
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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
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Filed under: Experts Invited, Investing, Portfolio Management, Research & Development, Retirement and Benefits | Tagged: asset allocation, capital markets, Investing, MPRA, Munich Personal RePEc Archive, retirement planning, Safe Withdrawal Rates, Wade Donald Pfau | 4 Comments »
By Staff Reporters
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Apple just announced its most recent quarterly results. Compared to the rest of the tech industry, the numbers were pretty good. Apple’s profits were down 11 percent from the same period last year but the company beat estimates and still managed to set a record for third-quarter revenue. Considering the challenges facing the entire economy, those numbers are pretty remarkable. The tech industry has been hit especially hard over the past few months due to things like a shortage of computer processors, inflation, and weakening demand; etc.
Bitcoin and Ether, the world’s two largest digital tokens, are headed toward their best month since 2021 amid a revival of risk appetite in global markets and optimism about an Ethereum network upgrade. Bitcoin is up 28% in July and Ether 70%, though their rallies paused Friday. Both were little changed, with Bitcoin at about $23,950 as of 5 p.m. in New York and Ether hovering around $1,730.
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COMMENTS APPRECIATED
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Filed under: Alerts Sign-Up, Glossary Terms, Information Technology, Investing | Tagged: Apple, Bitcoin, ether, Ethereum | Leave a comment »
A High Guaranteed Return!
By Rick Kahler CFP® http://www.KahlerFinancial.com
Once you hit age 62, what’s an investment class that can give you a high guaranteed return with almost no risk; Bonds, Equities, or Commodities?
Nope; it’s social security.
There’s just one catch. You can’t actually get your hands on the money until you’re 70.
The Catch
One of the most common issues for those approaching retirement age is determining the right time to file for Social Security. If you file at age 62, you will receive benefits longer. Yet your monthly benefit for the rest of your life will only be about 75% of the monthly amount you will receive if you file at your full retirement age of 66 to 67. If you wait even longer, the benefit amount is higher still.
Those who are unable to work and don’t have sufficient retirement savings may not have a choice about filing for Social Security early. Those who don’t have a compelling need for early Social Security income may still consider early filing as an option, with the idea of investing the money for their later retirement.
Recent Thoughts
According to a recent article by Karen DeMasters in Financial Advisor magazine, this is not a good choice. She cites research done by William Meyer and William Reichenstein of Social Security Solutions Inc (www.ssanalyzer.com) in Leawood, Kansas.
One big drawback to investing your Social Security benefits is the penalty you pay if you are still working. If, between age 62 and your full retirement age, you earn more than $15,120 a year, your benefits are reduced. So you’d start with a smaller benefit amount, have it cut even further, and not be left with a whole lot to invest.
Even more important, however, is a number that Meyer and Reichenstein emphasize: 8%. This is the amount that your Social Security benefit increases every year between age 62 and 70 that you delay filing. In essence, if you leave your Social Security benefits in the government’s hands instead of investing them yourself, you are guaranteed an 8% annual return on that part of your retirement portfolio. This doesn’t include cost-of-living increases.
Taking early benefits and investing them is only a good idea if you are sure you can get more than an 8% return. Any investment likely to produce a return higher than 8% would come with risks that are unacceptably high for a retirement-age portfolio.
Social Security Risks
There are only two real risks associated with letting your Social Security benefits accumulate until later than age 62.
One is the possibility that Social Security won’t be there when you do retire. Given that the delay is only a few years and that Social Security is now the retirement plan of most Americans, this is extremely unlikely.
The second risk is that you won’t live long enough to collect an amount equal to what you would get if you started benefits early. Unless you are facing a terminal illness, however, chances are that waiting until at least full retirement age is still the wisest option.
Assessment
If your health is good and you don’t need retirement cash immediately, you are far better off to delay filing. Even if you are facing circumstances that might make early retirement a necessity, it’s a good idea to look at all your options and try to find creative ways to put off filing as long as possible.
Once you reach age 62, Social Security is always an option. It gives you a doorway out of the working world any time you really need to take it. But for every year you can delay walking through that door, you gain 8%. That’s an investment return well worth waiting for.
Conclusion
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Filed under: Investing, Retirement and Benefits | Tagged: financial advisor magazine, Karen DeMasters, Rick Kahler CFP®, social security, Social Security as an Asset Class?, William Meyer, William Reichenstein | 3 Comments »
By Staff Reporters
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Although the future of Social Security remains in doubt, some congressional lawmakers are ensuring that most Social Security recipients get their money and then some. Sen. Bernie Sanders (I-Vt.) introduced the Social Security Expansion Act (SSEA) in June. The bill would allot $200 more per month for each Social Security recipient — a 12% boost in money, according to CBS News.
The bill was introduced after the Social Security Administration said that Americans would no longer receive benefits in 13 years, if congressional lawmakers do not address the funding shortage.
So who will receive these Social Security increases?
The people who are currently eligible for Social Security or anyone who turns 62 in 2023, which is the earliest age to collect Social Security, will be eligible to receive the extra $200 a month with their benefits.
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Now, at present for Social Security, 12.4% is taken out of each paycheck for people earning up to $147,000, with half paid by the employer and half paid by the worker. So, if you make $147,000 or less, you are paying 6.2% into Social Security. If you make, say, $1.47 million, you only pay 0.6% of your income to Social Security.
If the pending new SS bill is approved, the same rate would be taxed on individuals making $250,000 or more. Those making $147,000 or less would continue to pay the same rate as well, with a do-nut hole between the $147,000 and $250,000 — although that $147,000 typically goes up each year, as it is based on average income.
The increased funding — along with a change in the cost-of-living-adjustments (COLA) to the Consumer Price Index for the Elderly (CPI-E) — would help to increase benefits by an estimated $200 per month, or $2,400 per year, which bears out, according to an analysis by the Social Security Administration (SSA).
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Filed under: Accounting, Health Law & Policy, Investing, LifeStyle, Retirement and Benefits, Taxation | Tagged: social security, Social Security Expansion Act, Social Security Politics and Mathematics! | Leave a comment »
Rebates in 2019
[By staff reporters]
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Filed under: Health Insurance | Tagged: medical loss ratios, medical loss rebates | Leave a comment »
The Difference
[By Anonymous]
One of the most important concepts in behavioral economics is that people react differently to gains and losses. An example from Hodja Nasreddin:
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“One day Nasreddin went to his neighbour and asked to borrow a large cooking pot. The neighbour obliged and Nasreddin promised to bring it back shortly. Weeks passed when the neighbour came by to remind Nasreddin about his pot.
Embarrassed, the hodja went inside and after a short time re-emerged with the pot. On handing it over there was a clanging sound inside upon which the neighbour lifted the lid to reveal a smaller pot inside. “Hodja, what is this?” He exclaimed. “Neighbour, it seems the pot you gave me was expecting and this is her young!” The neighbour gave the hodja a silent look and left with both pots.
Some time later Nasreddin again asked to borrow the pot and the neighbour happily obliged. Again weeks passed and the neighbour came again inquiring about his pot.
“Alas!” Nasreddin said, your dear pot passed on to the afterlife, please accept my condolences.”
“But hodja, how can a metal pot die?” said his neighbour whereupon Nasreddin hodja flew into a rage and yelled:”You had no trouble believing it gave birth but her death strikes you as incredible? Now begone, you rascal!
NOTE: Why backward? http://mullahnasruddin.com/?p=1927
Assessment: Your thoughts are appreciated.
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Filed under: Health Economics, Investing | Tagged: behavioral econmomics, Hodja Nasreddin | Leave a comment »
Sub-Variants BA.4 and BA.5
By Staff Reporters
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Re-formulated virus booster shots from Pfizer and Moderna should be on pharmacy shelves by September, a Biden administration official told NBC News.
This means a campaign to release second boosters to a broader swath of the population this summer is being scrapped. These re-tooled shots are intended to provide better protection against the Omicron BA.5 and BA.4 sub-variants, which accounted for more than 90% of new cases in the USA last week.
CITE: https://www.r2library.com/Resource/Title/082610254
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COMMENTS APPRECIATED
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Filed under: Breaking News, Drugs and Pharma, Glossary Terms, Health Economics | Tagged: BA.4, BA.5, corona, corona boosters, Corona Boosters 2.0, omicron, omicron variants | Leave a comment »
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