My Academic “Chair” and “Teaching Philosophy”

Colleges and Universities

TO H.R. RECRUITERS, UNIVERSITY HIRING MANAGERS & SEARCH COMMITTEES

Sooth My Academic Teaching and Classroom Withdrawal Pangs!


cropped-dem

I’m screening for my next university Dean, Chair or teaching Professorship opportunity.

Currently, an endowed Resident-Scholar completing a text book production assignment complete with aligned case models, tests, quizzes, rubrics, curriculum teaching portfolio, and accreditation review.

Two-decades of domestic and international teaching experience and credentials in health economics, finance, investing, business, policy, risk management, IT and administration. Hundreds of peer-reviewed and trade publications [TNTC] with 30 major textbooks redacted in more than a thousand university libraries [NIH, Library of Congress and National Institute Health, etc]. Public and population health global speaker and thought leader. Wall Street experience as start-up founder, entrepreneur and CXO.

Ideal mentor for under graduate thru post-doctoral and fellowship students [PhD, DBA, MD/DO, MHA and MBA, etc].

Compensation important, but fit is paramount as servant-leader.
[+] RANKED: Google Scholar and “H” Index
CV available upon request.

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DEM avatar

Dr. Marcinko Teaching Philosophy

CHAIR: Chair 3.0 Philosophy Dr. Marcinko

THANK YOU
770-448-0769
MarcinkoAdvisors@msn.com
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PODCAST: Employee Health Plan MISALIGNMENT with Fee-for-Service Medicine

Current Partners Not Aligned With PLAN Goals

Dr. Boram (Kim) Park, MD - Dallas, TX | Internal Medicine

BY DR. ERIC BRICKER MD

Employee Health Plans Have Have a MISALIGNMENT Problem with the Current Fee-for-Service Healthcare System…i.e. Their Current Partners Are Not Aligned With Their Goals

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Health Insurance Carriers Are Misaligned by Owning PBMs That Make More Money in Rebate Kick-Backs When the Employee Health Plan Spends More Money on Expensive Prescription Drugs.

Doctors Are Misaligned When They *Are Employed by Hospitals That Tie Test and Procedure Ordering Volume to Doctor Compensation.

Hospitals are Misaligned When They Buy Physician Practices and Raise the Prices for In-Office Testing and Procedures by 300%… Even Though NOTHING Has Changed Other Than the Sign on the Door.

Accordingly, True Employee Health Plan Innovation is ALIGNMENT Innovation That Provides Care Outside the of the Status Quo Fee-for-Service System.

Onsite Clinics, Near Site Clinics, Direct Primary Care and Capitated Virtual Care All Provide Real Alignment Innovation for Employee Health Plans.

ASSESSMENT: Your comments are appreciated.

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

THANK YOU

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On Purchasing Individual BONDS!

A Seldom Discussed Investing Topics for Doctors and All Investors Until Now?

By Dr. David Edward Marcinko MBA CMP®

MARKET ALERT: Investors fled into the bond market Monday, pulling the yield on the closely watched 10-year Treasury to its lowest since February, with investors dashing out of equities on fears that rising COVID-19 infections will threaten recovery in the world’s largest economy.

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SPONSOR: http://www.CertifiedMedicalPlanner.org

Now – Trading individual bonds is not like trading stocks. Stocks can be bought at uniform prices and are traded through exchanges. Most bonds trade over the counter, and individual brokers price them.  But, price transparency has gotten better in the last decade. 

For example, in 1999, the bond markets gained clearness from the House of Representatives’ Bond Price Competition Improvement Act of 1999. Responding to this pioneering law, the site http://www.investinginbonds.com was established. This site provides current prices on bonds that have traded more than four times the previous day. With the advent of Investinginbonds.com and real-time reporting of many trades, investors are much better off today.  Many well regarded brokers including Schwab, Ameritrade, and Fidelity Investments now have dedicated websites devoted to bond trading and pricing. 

Fidelity Investments chose to disclose its fee structure for all bonds, making it clear what it will cost you per trade. Fidelity charges $1 per bond trade. Some on-line brokers charge a flat fee as well, ranging from $10.95 at Zions Direct to $45 at TD Ameritrade. Depending on the number of bonds trading, one may be more complimentary than another. The trading fee disclosures, however, do not divulge the spreads between the buy and sell price embedded in the transaction that some dealer is making in the channel. Keep in mind that only by comparison shopping can assist you in finding the best transaction price, after all fees are taken into account. Other sites may not charge any fee, but rather embed the profit in the spread.

Despite the difficulty in pricing and transparency, investing in individual bonds offers several rewards over purchasing bond mutual funds.

First, bond mutual funds never mature.

Second, you know exactly what you will be receiving in interest each year.  You will also know the exact maturity date. 

Furthermore, your individual investment is protected against interest rate risk, at least over the full term to maturity.  Both individual bonds and bond funds share interest-rate risk (the risk of locking up an investment at a given rate, only to see rates rise). This pushes bond prices down.  At least with an individual bond, you can re-invest it at the higher, market rate once the bond matures.

But, the lack of a fixed maturity date on a bond mutual fund causes an open ended problem; there is no promise of the original investment back.  Short of default, an individual bond will return all principal and pay all interest assuming you hold it to maturity.  Bond funds are not likely to default as most funds maintain positions in hundreds of individual bonds.  The force of interest rate risk to individual bond or bond mutual fund prices depends on the maturity of a bond investment: the longer the maturity of a bond or bond fund (average), the more the price will drop due to rising rates. This is known as duration.

Duration is a statistical term that measures the price sensitivity to yield, is the primary measurement of a bond or bond fund’s sensitivity to interest rate changes.  Duration indicates approximately how much the price of a bond or bond fund will adjust in the reverse direction given a rise in interest rates. For instance, an individual bond with an average duration of five years will fall in value approximately 5% if rates rise by 1% and the opposite is accurate as well.

Although stated in years, duration is not simply a gauge of time. Instead, duration signals how much the price of your bond investment is likely to oscillate when there is an up or down movement in interest rates. The higher the duration number, the more susceptible your bond investment will be to changes in interest rates.  If you have money in a bond or bond fund that holds primarily long-term bonds, expect the value of that fund to decline, perhaps significantly, when interest rates rise. The higher a bond’s duration, the greater its sensitivity to interest rates alterations. This means fluctuations in price, whether positive or negative, will be more prominent.

For example, a bond fund with 10-year duration will diminish in value by 10 percent if interest rates increase by one percent. On the other hand, the bond fund will rise in value by 10 percent if interest rates descend by one percent. The important concept to remember is once you recognize a bond’s or bond fund’s duration, you can forecast how it will react to a change in interest rates.

UPDATE:

The yield on the 10-year Treasury note, which serves as a benchmark for interest rates across the US economy, fell for an eighth straight day last week to below 1.3%—the lowest level since February. And, the 10-year yield fell to 1.181% with an intra-day low of 1.176% yesterday, which was the lowest since February 11.

Since bond prices and yields move in opposite directions, falling yields signal higher demand for Treasuries.

Why it matters: At the most basic level, the 10-year yield is a key indicator of investors’ confidence in future US economic growth. As the Delta variant spreads and threatens to slow the economic recovery, the fall in yields means investors are souring on a mega growth spurt and snapping up safer assets rather than riskier stocks.

What does this mean for inflation? Because investors sell bonds when they think inflation is coming, the runup in bond prices means the worst of Wall Street’s inflation concerns may be over. “It feels like we have moved from thinking inflation will be transitory, to fearing growth will be transitory,” Art Hogan, chief marketing strategist at National Securities, said.

ASSESSMENT: Your thoughts are appreciated.

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

ORDER Textbook: 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

SECOND OPINIONS: https://medicalexecutivepost.com/schedule-a-consultation/

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

THANK YOU

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FINANCIAL PLANNING AND INVESTING FOR PHYSICIANS: Purchase Textbook Today & Relax Tomorrow

“MANIC MONDAY” 2021

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

YOUR THOUGHTS ARE APPRECIATED

SPONSOR: http://www.CertifiedMedicalPlanner.org

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THANK YOU

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My WEGO Health Awards Nomination

It’s official, Dr. David Marcinko, your advocacy is making a big impact!

Just Nominated

Congratulations on your 10th annual WEGO Health Awards nomination. Whether you’re a patient advocate, influencer or collaborator, we’re honored to recognize your contributions to the online health community.

We created the WEGO Health Awards as a way to celebrate and thank the patients and caregivers who support, educate, and inspire others. It’s now our 10th season and the patient leader community is stronger than ever. We could not be more proud to include you as a nominee.

You can expect to hear from us each week with updates and important announcements.

ASSESSMENT: Your comments are appreciated.

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

CONTACT: Ann Miller RN MH

[Executive Director]

THANK YOU

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This Post-Independence Day Federal Holiday

BY DR. DAVID E. MARCINKO MBA

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

Good Monday Morning and Happy July 5th.

I recently learned from Bloomberg editor David Shipley that the American citizenship test wasn’t standardized until the 1950s, and before that aspiring citizens were quizzed on their understanding of American history by a judge. It was … pretty hard.

Here are several questions you might’ve been asked to become an American citizen in 1944. How would you do? Answers at the bottom of this post.

  • Which of the following states seceded during the Civil War? Florida, Maryland, Delaware, Kentucky*
  • Which of these cities has not been a capital of the US? NYC, Boston, Princeton, Philadelphia
  • Where must all bills intended to raise revenue originate? Popular referendum, the House, the Senate, the president
  • Which was not one of the original 13 colonies? South Carolina, Massachusetts, Georgia, Maine.

HAVE A GREAT MONDAY OFF

And, thank you if working today.

Citizenship test: 1) Florida seceded 2) Boston wasn’t a capital 3) Bills to raise revenue must originate in the House 4) Maine wasn’t an original colony

CELEBRATE

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The Business Side of Independence Day

CELEBRATE SAFELY & ECONOMICALLY

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

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Your thoughts and comments are appreciated.

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

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

CONTACT: Ann Miller RN MH

[Executive Director]

MarcinkoAdvisors@msn.com

***

THANK YOU

MEDICAL: Artificial Intelligence in EHRs

ELECTRIC HEALTH RECORDS

By White Hat Anonymous

Epic Systems, the country’s leading e-health record company, says an algorithm it developed can accurately flag sepsis in patients 76% of the time. The life-threatening disease, which arises from infections, is a major concern for hospitals: One-third of patients who die in hospitals have sepsis, per the CDC. 

  • Generally, the earlier sepsis is diagnosed and treated, the better a patient’s chances of survival—and hundreds of hospitals use Epic Systems’s sepsis prediction model, The Verge reports. 

The problem: According to a study published this week in JAMA Internal Medicine, Epic Systems may have gotten the success rate wrong: The model is only correct 63% of the time—“substantially worse than the performance reported by its developer,” the researchers wrote. 

  • Part of the issue can be traced to the algorithm’s development, Stat News reports. It was trained to flag when doctors would submit bills for sepsis treatment—which doesn’t always line up with patients’ first signs of symptoms. 
  • “It’s essentially trying to predict what physicians are already doing,” Dr. Karandeep Singh, study author.

See the source image

When reached for comment, Epic Systems told us the researchers’ hypothetical scenario lacked “the required validation, analysis, and tuning that organizations need to do before deployment,” adding that the JAMA study’s findings differed from other research. 

CITE: https://healthcarefinancials.files.wordpress.com/2007/10/foreword-mata.pdf

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

Bottom line: Algorithms can augment healthcare, but the life-or-death nature of their use requires serious due diligence.

ASSESSMENT: Your thoughts are appreciated

THANK YOU

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Don’t be a “Fireworks Fourth Fool” [Videos]

By Dr. David Edward Marcinko MBA

[Publisher-in-Chief]

Graphic video image warning!

Back in the day, when I was a surgical resident and fellow, I treated my fair share of electrical, thermal and chemical burn injuries. Some were life, eyeball and limb threatening; but fortunately most were not! Treatment was with local wound care, followed by full, split thickness or postage stamp skin grafts, flaps, or various plastic surgery techniques, etc.

And, many were accidental of course, but a few were simply ill-conceived ideas from dumb or inebriated patients seen through the emergency room of the old Emory University – Northlake Regional Medical Center, in Tucker, GA.

So, for you medical types, here is a recap on the way we doctors classify burns, as referenced in several of my surgical textbooks and related medical publications.

Classification of Burn Depths

A. Superficial burn injury

1st degree burn

  • Limited to the epidermis
  • Presents with erythema and minimal swelling
  • Mild discomfort
  • Commonly treated on outpatient basis

B. Superficial partial-thickness burns

Second Degree Burn

  • Superficial 2nd degree burns
  • Involves the epidermis and superficial portion of the dermis
  • Often seen with scalding injuries
  • Presents with blister formation and typically blanches with pressure
  • Sensitive to light touch or pinprick
  • Commonly treated on outpatient basis; heal in 1-3 wks.

C. Deep partial-thickness burns

Deep 2nd degree burns

  • Involves the epidermis and most of the dermis
  • Patients often require excision of the wound and skin grafting
  • Appears white or poorly vascularized; may not blister
  • Less sensitivity to light touch and pinprick than superficial form
  • Extensive time to heal (3-4 wks)

D. Full-thickness burns

Third Degree Burn

  • Involves epidermis, and all layers of dermis, extending down to subcutaneous tissue
  • Appears dry, leathery, and insensate, often without blisters
  • Can be difficult to differentiate from deep partial-thickness burns
  • Commonly seen when patient’s clothes caught on fire/skin directly exposed to flame
  • Usually require referral to burn surgeon; need skin grafting to heal.

E. Fourth degree burns

Fourth Degree Burn

  • Full-thickness burn extending to muscle or bone
  • Common result of high-voltage electric injury or severe thermal burns
  • Requires hospital admission

Assessment

So, why do we review this clinical material on Independence Day? It is to remind our readers not to drink and shoot fireworks today; or to stop and re-think before proceeding with same. Don’t be like the fool in this YouTube video. I don’t want to see you in any ER; any where today! GOMER.

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ME-P and Independence Day 2010

LINK:

http://www.bing.com/videos/search?q=fireworks+accidents&FORM=HDRSC3#view=detail&mid=D3AA2608DA10E002C8B4D3AA2608DA10E002C8B4

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:

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THANK YOU

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35 INNOVATORS Under 35

M.I.T TECHNOLOGY IN REVIEW

The 35 Innovators Under 35 is a yearly opportunity to take a look at not just where technology is now, but where it’s going and who’s taking it there. More than 500 people are nominated every year, and from this group MIT editors pick the most promising 100 to move on to the semifinalist round.

Their work is then evaluated by a panel of judges who have expertise in such areas as artificial intelligence, biotechnology, software, energy, and materials. With the insight gained from these rankings, the MIT editors pick the final list of 35.

Global Finance Names The Innovators 2016 | Global Finance ...

READ: https://www.technologyreview.com/innovators-under-35/2021/?truid=349b552221c994e2540a304649746d7c&utm_source=the_download&utm_medium=email&utm_campaign=the_download.unpaid.engagement&utm_term=&utm_content=06-30-2021&mc_cid=478000030a&mc_eid=72aee829ad

ASSESSMENT: Your thoughts are appreciated. How many are in healthcare and fin-technology?

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

THANK YOU

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Walmart’s Push to Create Healthcare ”SUPER CENTERS”

Walmart’s Push to Create Healthcare ”Super Centers”

Health Capital Consultants - Healthcare Valuation


Walmart, the world’s largest retailer, opened the first Walmart Health in 2019 with the main goal of helping to meet the healthcare needs of the communities they serve. After opening six locations in almost two years, Walmart is looking to operate a total of 22 standalone clinics by the end of 2021. 

This Health Capital Topics article will review Walmart Health’s approach to delivering primary care, the communities into which it is expanding, its partnerships it is developing in the healthcare sector, and the competitive landscape in which it operates. (Read more…) 

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

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

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NEWS ALERT: SCOTUS Rules to Leave ACA in Place

BREAKING NEWS!

On June 17, 2021, the Supreme Court of the United States (SCOTUS) released its long-awaited ruling on the fate of the Patient Protection and Affordable Care Act (ACA). In a 7-2 ruling, the majority (written by Justice Stephen Breyer) found that the two individual and 18 state plaintiffs did not have standing, stating

the plaintiffs…failed to show a concrete, particularized injury fairly traceable to the defendants’ conduct in enforcing the specific statutory provision they attack as unconstitutional. They have failed to show that they have standing to attack as unconstitutional the Act’s minimum essential coverage provision.” 

By ruling on the question of standing, the Court did not have to proceed to, and rule on, the issue of the constitutionality of the Individual Mandate.

The Court reversed the Fifth Circuit’s ruling with respect the standing issue, vacated the ruling, and remanded the case with instructions to dismiss.

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A more robust discussion of the majority’s opinion and the procedural history of this case will be included in the June 2021 issue of Health Capital Topics.
(Read the ruling here)

ASSESSMENT: Your comments are appreciated.

THANK YOU

***

PODCAST: How New Technologies Are Predictably Spread and How it Applies to Healthcare

BY ERIC BRICKER MD

[Book Review]

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The Technology Adoption Lifecycle Was Explained in Geoffrey Moore’s Famous Book ‘Crossing the Chasm.

If You Are a Healthcare Entrepreneur or Innovator Your MUST Understand and Apply the Technology Adoption Lifecycle.

It States that Disruptive Innovation (i.e. Innovations that Require Behavior Change) Is Not Evenly Adopted Across a Population.

Rather, People Segment Themselves into Sub-Groups That Adopt the New Innovation Differently. To Whit:

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Early Adopters Love Tinker and Like New Innovations Just Because They Are New. Early Adopters Tend to Not Be Price-Sensitive.

Pragmatists Have a Specific Problem that the New Innovation Will Solve and If They See Other People Using It, They Will Use It Too. Pragmatists Are Somewhat Price-Sensitive.

Conservatives Would Rather Not Adopt the New Innovation, but if it is Already Built-in to Something They Already Buy, Then They Will Be More Likely to Use It. Conservatives are Very Price Sensitive.

Skeptics Will Never Adopt the New Innovation.

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To Spread a New Innovation, One Must Cross the Chasm Between the Early Adopters and Pragmatists With a ‘Niche‘ and ‘Bowling Pin‘ Strategy.

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

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COVID-19 Financial Resources for Physicians

Bhagwan Satiani, MD, MBA, DFSVS, FACHE, FACS

Todd A. Zigrang, MBA, MHA, FACHE, CVA, ASA

Jessica L. Bailey-Wheaton, JD

ABSTRACT

The appropriate focus in managing the COVID-19 pandemic in the United States has been addressing access and delivery of care to the population affected by the outbreak. All sectors of the U.S. economy have been significantly affected,including physicians. Physician groups of all specialties and sizes have experienced the financial effects of the pandemic.Hospitals have received billions of dollars to support and enable them to manage emergencies and cover the costs of the disruption.

However, many vascular surgeons are under great financial pressure because of the postponement of all non-emergency procedures. The federal government has announced a myriad of programs in the form of grants and loans to reimburse physicians for some of their expenses and loss of revenue. It is more than likely that unless the public health emergency subsides significantly, many practices will experience dire consequences without additional financial assistance.

The authors have attempted to provide a concise listing of such programs and resources available to assist vascular surgeons who are small businesses in accessing these opportunities.

Health Capital Consultants - Healthcare Valuation

WHITE PAPER: https://www.healthcapital.com/researchmaterialdocuments/publishedarticles/Journal%20of%20Vascular%20Surgery%205.8.20.pdf

Your comments are appreciated.

THANK YOU

***

ORDER BOOK: 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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INFLATION Is Here!

But for How Long?

See the source image

Vitaliy N. Katsenelson, CFA

[CEO & Chief Investment Officer]

READERS

DEFINITION: In economics, inflation (or less frequently, price inflation) is a general rise in the price level of an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time.

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

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See the source image

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DEAR READERS

This essay is going to be long.
I blame inflation, be it transitory or not, for inflating its length. 

The number one question I am asked by clients, friends, readers, and random strangers is, are we going to have inflation? 

I think about inflation on three timelines: short, medium, and long-term

The pandemic disrupted a well-tuned but perhaps overly optimized global economy and time-shifted the production and consumption of various goods. For instance, in the early days of the pandemic automakers cut their orders for semiconductors. As orders for new cars have come rolling back, it is taking time for semiconductor manufacturers, who, like the rest of the economy, run with little slack and inventory, to produce enough chips to keep up with demand. A $20 device the size of a quarter that goes into a $40,000 car may have caused a significant decline in the production of cars and thus higher prices for new and used cars. (Or, as I explained to my mother-in-law, all the microchips that used to go into cars went into a new COVID vaccine, so now Bill Gates can track our whereabouts.)

Here is another example. The increase in new home construction and spike in remodeling drove demand for lumber while social distancing at sawmills reduced lumber production – lumber prices spiked 300%. Costlier lumber added $36,000 to the construction cost of a house, and the median price of a new house in the US is now about $350,000.

The semiconductor shortage will get resolved by 2022, car production will come back to normal, and supply and demand in the car market will return to the pre-pandemic equilibrium. High prices in commodities are cured by high prices. High lumber prices will incentivize lumber mills to run triple shifts. Increased supply will meet demand, and lumber prices will settle at the pre-pandemic level in a relatively short period of time. That is the beauty of capitalism! 

Most high prices caused by the time-shift in demand and supply fall into the short-term basket, but not all. It takes a considerable amount of time to increase production of industrial commodities that are deep in the ground – oil, for instance. Low oil prices preceding the pandemic were already coiling the spring under oil prices, and COVID coiled it further. It will take a few years and increased production for high oil prices to cure high oil prices. Oil prices may also stay high because of the weaker dollar, but we’ll come back to that.

Federal Reserve officials have told us repeatedly they are not worried about inflation; they believe it is transitory, for the reasons I described above. We are a bit less dismissive of inflation, and the two factors that worry us the most in the longer term are labor costs and interest rates. 

Let’s start with labor costs 

During a garden-variety recession, companies discover that their productive capacity exceeds demand. To reduce current and future output they lay off workers and cut capital spending on equipment and inventory. The social safety net (unemployment benefits) kicks in, but not enough to fully offset the loss of consumer income; thus demand for goods is further reduced, worsening the economic slowdown. Through millions of selfish transactions (microeconomics), the supply of goods and services readjusts to a new (lower) demand level. At some point this readjustment goes too far, demand outstrips supply, and the economy starts growing again.

This pandemic was not a garden-variety recession 

The government manually turned the switch of the economy to the “off” position. Economic output collapsed. The government sent checks to anyone with a checking account, even to those who still had jobs, putting trillions of dollars into consumer pockets. Though output of the economy was reduced, demand was not. It mostly shifted between different sectors within the economy (home improvement was substituted for travel spending). Unlike in a garden-variety recession, despite the decline in economic activity (we produced fewer widgets), our consumption has remained virtually unchanged. Today we have too much money chasing too few goods– that is what inflation is. This will get resolved, too, as our economic activity comes back to normal.

But …

Today, though the CDC says it is safe to be inside or outside without masks, the government is still paying people not to work. Companies have plenty of jobs open, but they cannot fill them. Many people have to make a tough choice between watching TV while receiving a paycheck from big-hearted Uncle Sam and working. Zero judgement here on my part – if I was not in love with what I do and had to choose between stacking boxes in Amazon’s warehouse or watching Amazon Prime while collecting a paycheck from a kind uncle, I’d be watching Sopranos for the third time. 

To entice people to put down the TV remote and get off the couch, employers are raising wages. For instance, Amazon has already increased minimum pay from $15 to $17 per hour. Bank of America announced that they’ll be raising the minimum wage in their branches from $20 to $25 over the next few years. The Biden administration may not need to waste political capital passing a Federal minimum wage increase; the distorted labor market did it for them. 

These higher wages don’t just impact new employees, they help existing employees get a pay boost, too. Labor is by far the biggest expense item in the economy. This expense matters exponentially more from the perspective of the total economy than lumber prices do. We are going to start seeing higher labor costs gradually make their way into higher prices for the goods and services around us, from the cost of tomatoes in the grocery store to the cost of haircuts.

Only investors and economists look at higher wages as a bad thing. These increases will boost the (nominal) earnings of workers; however, higher prices of everything around us will negate (at least) some of the purchasing power. 

Wages, unlike timber prices, rarely decline. It is hard to tell someone “I now value you less.” Employers usually just tell you they need less of your valuable time (they cut your hours) or they don’t need you at all (they lay you off and replace you with a machine or cheap overseas labor). It seems that we are likely going to see a one-time reset to higher wages across lower-paying jobs. However, once the government stops paying people not to work, the labor market should normalize; and inflation caused by labor disbalance should come back to normal, though increased higher wages will stick around.

There is another trend that may prove to be inflationary in the long-term: de-globalization.  Even before the pandemic the US set plans to bring manufacturing of semiconductors, an industry deemed strategic to its national interests, to its shores. Taiwan Semiconductor and Samsung are going to be spending tens of billions of dollars on factories in Arizona.  

The pandemic exposed the weaknesses inherent in just-in-time manufacturing but also in over reliance on the kindness of other countries to manufacture basic necessities such as masks or chemicals that are used to make pharmaceuticals.  Companies will likely carry more inventory going forward, at least for a while.  But more importantly more manufacturing will likely come back to the US. This will bring jobs and a lot of automation, but also higher wages and thus higher costs.  

If globalization was deflationary, de-globalization is inflationary  

We are not drawing straight-line conclusions, just yet. A lot of manufacturing may just move away from China to other low-cost countries that we consider friendlier to the US; India and Mexico come to mind.  

And then we have the elephant in the economy – interest rates, the price of money. It’s the most important variable in determining asset prices in the short term and especially in the long term. The government intervention in the economy came at a significant cost, which we have not felt yet: a much bigger government debt pile. This pile will be there long after we have forgotten how to spell social distancing
 
The US government’s debt increased by $5 trillion to $28 trillion in 2020 – more than a 20% increase in one year! At the same time the laws of economics went into hibernation: The more we borrow the less we pay for our debt, because ultra-low interest rates dropped our interest payments from $570 billion in 2019 to $520 billion in 2020. 

That is what we’ve learned over the last decade and especially in 2020: The more we borrow the lower interest we pay. I should ask for my money back for all the economics classes I took in undergraduate and graduate school.

This broken link between higher borrowing and near-zero interest rates is very dangerous. It tells our government that how much you borrow doesn’t matter; you can spend (after you borrow) as much as your Republican or Democratic heart desires. 

However, by looking superficially at the numbers I cited above we may learn the wrong lesson. If we dig a bit deeper, we learn a very different lesson: Foreigners don’t want our (not so) fine debt. It seems that foreign investors have wised up: They were not the incremental buyer of our new debt – most of the debt the US issued in 2020 was bought by Uncle Fed. Try explaining to your kids that our government issued debt and then bought it itself. Good luck.

Let me make this point clear: Neither the Federal Reserve, nor I, nor a well-spoken guest on your business TV knows where interest rates are going to be (the total global bond market is bigger even than the mighty Fed, and it may not be able to control over interest rates in the long run). But the impact of what higher interest rates will do the economy increases with every trillion we borrow. There is no end in sight for this borrowing and spending spree (by the time you read this, the administration will have announced another trillion in spending). 

Let me provide you some context about our financial situation 


The US gross domestic product (GDP) – the revenue of the economy – is about $22 trillion, and in 2019 our tax receipts were about $3.5 trillion. Historically, the-10 year Treasury has yielded about 2% more than inflation. Consumer prices (inflation) went up 4.2% in April. Today the 10-year Treasury pays 1.6%; thus the World Reserve Currency debt has a negative 2.6% real interest rate (1.6% – 4.2%). 

These negative real (after inflation) interest rates are unlikely to persist while we are issuing trillions of dollars of debt. But let’s assume that half of the increase is temporary and that 2% inflation is here to stay. Let’s imagine the unimaginable. Our interest rate goes up to the historical norm to cover the loss of purchasing power caused by inflation. Thus it goes to 4% (2 percentage points above 2% “normal” inflation). In this scenario our federal interest payments will be over $1.2 trillion (I am using vaguely right math here). A third of our tax revenue will have to go to pay for interest expense. Something has to give. It is not going to be education or defense, which are about $230 billion and $730 billion, respectively. You don’t want to be known as a politician who cut education; this doesn’t play well in the opponent’s TV ads. The world is less safe today than at any time since the end of the Cold War, so our defense spending is not going down (this is why we own a lot of defense stocks). 

The government that borrows in its own currency and owns a printing press will not default on its debt, at least not in the traditional sense. It defaults a little bit every year through inflation by printing more and more money. Unfortunately, the average maturity of our debt is about five years, so it would not take long for higher interest expense to show up in budget deficits. 

Money printing will bring higher inflation and thus even higher interest rates

If things were not confusing enough, higher interest rates are also deflationary 

We’ve observed significant inflation in asset prices over the last decade; however, until this pandemic we had seen nothing yet. Median home prices are up 17% in one year. The wild, speculative animal spirits reached a new high during the pandemic. Flush with cash (thanks to kind Uncle Sam), bored due to social distancing, and borrowing on the margin (margin debt is hitting a 20-year high), consumers rushed into the stock market, turning this respectable institution (okay, wishful thinking on my part) into a giant casino. 

It is becoming more difficult to find undervalued assets. I am a value investor, and believe me, I’ve looked (we are finding some, but the pickings are spare). The stock market is very expensive. Its expensiveness is setting 100-year records. Except, bonds are even more expensive than stocks – they have negative real (after inflation) yields.

But stocks, bonds, and homes were not enough – too slow, too little octane for restless investors and speculators. Enter cryptocurrencies (note: plural). Cryptocurrencies make Pets.com of the 1999 era look like a conservative investment (at least it had a cute sock commercial). There are hundreds if not thousands of crypto “currencies,” with dozens created every week. (I use the word currency loosely here. Just because someone gives bits and bytes a name, and you can buy these bits and bytes, doesn’t automatically make what you’re buying a currency.)

“The definition of a bubble is when people are making money all out of proportion to their intelligence or work ethic.”

By Mike Burry MD
[The Big Short]

I keep reading articles about millennials borrowing money from their relatives and pouring their life savings into cryptocurrencies with weird names, and then suddenly turning into millionaires after a celebrity CEO tweets about the thing he bought. Much ink is spilled to celebrate these gamblers, praising them for their ingenious insight, thus creating ever more FOMO (fear of missing out) and spreading the bad behavior.

Unfortunately, at some point they will be writing about destitute millennials who lost all of their and their friends’ life savings, but this is down the road. Part of me wants to call this a crypto craziness a bubble, but then I think, Why that’s disrespectful to the word bubble, because something has to be worth something to be overpriced. At least tulips were worth something and had a social utility. (I’ll come back to this topic later in the letter).

But ….

When interest rates are zero or negative, stocks of sci-fi-novel companies that are going to colonize and build five-star hotels on Mars are priced as if El Al (the Israeli airline) has regular flights to the Red Planet every day of the week except on Friday (it doesn’t fly on Shabbos). Rising interest rates are good defusers of mass delusions and rich imaginations. 

In the real economy, higher interest rates will reduce the affordability of financed assets. They will increase the cost of capital for businesses, which will be making fewer capital investments. No more 2% car loans or 3% business loans. Most importantly, higher rates will impact the housing market. 

Up to this point, declining interest rates increased the affordability of housing, though in a perverse way: The same house with white picket fences (and a dog) is selling for 17% more in 2021 than a year before, but due to lower interest rates the mortgage payments have remained the same. Consumers are paying more for the same asset, but interest rates have made it affordable.

At higher interest rates housing prices will not be making new highs but revisiting past lows. Declining housing prices reduce consumers’ willingness to improve their depreciating dwellings (fewer trips to Home Depot). Many homeowners will be upside down in their homes, mortgage defaults will go up… well, we’ve seen this movie before in the not-so-distant past. Higher interest rates will expose a lot of weaknesses that have been built up in the economy. We’ll be finding fault lines in unexpected places – low interest has covered up a lot of financial sins.

And then there is the US dollar, the world’s reserve currency. Power corrupts, but the unchallenged and unconstrained the power of being the world’s reserve currency corrupts absolutely. It seems that our multitrillion-dollar budget deficits will not suddenly stop in 2021. With every trillion dollars we borrow, we chip away at our reserve currency status (I’ve written about this topic in great detail, and things have only gotten worse since). And as I mentioned above, we’ve already seen signs that foreigners are not willing to support our debt addiction. 

A question comes to mind.
Am I yelling fire where there is not even any smoke? 

Higher interest rates is anything but a consensus view today. Anyone who called for higher rates during the last 20 years is either in hiding or has lost his voice, or both. However, before you dismiss the possibility of higher rates as an unlikely plot for a sci-fi novel, think about this. 

In the fifty years preceding 2008, housing prices never declined nationwide. This became an unquestioned assumption by the Federal Reserve and all financial players. Trillions of dollars of mortgage securities were priced as if “Housing shall never decline nationwide” was the Eleventh Commandment, delivered at Temple Sinai to Goldman Sachs. Or, if you were not a religious type, it was a mathematical axiom or an immutable law of physics. The Great Financial Crisis showed us that confusing the lack of recent observations of a phenomenon for an axiom may have grave consequences. 

Today everyone (consumers, corporations, and especially governments) behaves as if interest rates can only decline, but what if… I know it’s unimaginable, but what if ballooning government debt leads to higher interest rates? And higher interest rates lead to even more runaway money printing and inflation? 

This will bring a weaker dollar 

A weaker US dollar will only increase inflation, as import prices for goods will go up in dollar terms. This will create an additional tailwind for commodity prices. 

If your head isn’t spinning from reading this, I promise mine is from having written it. 

To sum up: A lot of the inflation caused by supply chain disruption that we see today is temporary. But some of it, particularly in industrial commodities, will linger longer, for at least a few years. Wages will be inflationary in the short-term and will reset prices higher, but once the government stops paying people not to work, wage growth should slow down. Finally, in the long term a true inflationary risk comes from growing government borrowing and budget deficits, which will bring higher interest rates and a weaker dollar with them, which will only make inflation worse and will also deflate away a lot of assets.

THE END

Your thoughts are appreciated.

THANK YOU

***
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PODCAST: Have You Received Your COVID-19 Vaccine, Yet?


Have you gotten your COVID-19 vaccine yet?

Haven’t gotten your COVID-19 vaccine yet? Now’s your chance! Find a COVID-19 vaccine provider near you quickly and easily with the redesigned Vaccines.gov website. Vaccines.gov COVID-19 vaccines are the best way to protect yourself and your loved ones from COVID-19 — and an important tool to help us get back to normal.

And remember, the vaccine is available at no cost to you at doctor’s offices, clinics, hospitals and retail pharmacies across the country.

Already vaccinated? That’s great! Visit CDC.gov to see the activities you can do safely when you’ve been fully vaccinated.
"I got mine. Be next." with smiling woman image. Linked to video.

PLAY PODCAST VIDEO: https://www.youtube.com/watch?v=6aPihNXV_wQ#utm_campaign=20210519_cvd_prv_gal_v1&utm_content=english&utm_medium=email&utm_source=govdelivery

Note: Bring your red, white, and blue Medicare card (or Medicare Number) when you go to get your vaccine.

Sincerely,

The Medicare Team

***

The CERTIFIED MEDICAL PLANNER® Online Designation Program is Now Automated

[By Staff Reporters]

The concept of a self-taught and student motivated, but automated outcomes driven classroom may seem like a nightmare scenario for those who are not comfortable with computers.

Now everyone can breathe a sigh of relief, because the Institute of Medical Business Advisors just launched an “automated” final examination review protocol that requires no programming skill whatsoever.

Enter the CMPs

cmp

In fact, everything is designed to be very simple and easy to use. Once a student’s examination “blue-book” is received, computerized “robotic reviewers” correct student assignments and quarterly test answers. This automated examination model lets the robots correct tests and exams, while the students concentrate on guided self-learning.

SplitShire-

http://www.CertifiedMedicalPlanner.org

Assessment

According to Eugene Schmuckler PhD MBA MEd, Dean of the CERTIFIED MEDICAL PLANNER® professional designation and certification program,

“This option allows the modern adult-learner save both time and money as s/he progresses toward the ultimate goal of board certification as a CMP® mark holder.”

The trend is growing and iMBA, Inc., is leading the way.

imba inc

THANK YOU

TEXTBOOK LINK: 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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“Buy Now – Pay Later” Changed Retail Consumerism

Health care and rent are next?

[By Terry Nguyen staff reporters]

Emerging fintech apps are looking to apply this lending model to sectors, from health care to travel to rent. Sure, people are growing acclimated to dividing their purchases into four easy payments, even applauding the option to do so.

But no matter how you frame it, the pitfalls of these plans seem to be, unfortunately, just more debt.

18-24's Owe £225 to Buy Now Pay Later Schemes - AI Global ...

Buy now, pay later providers Klarna, Afterpay, and Quadpay spent years slowly infiltrating the retail market. The pandemic has accelerated their popularity among all sorts of online brands

READ LINK: https://www.vox.com/the-goods/2021/5/11/22429014/buy-now-pay-later-pandemic-expansion?utm_source=pocket-newtab

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

***

The Biden Tax Plan “Dissected” on Tax Day 2021

Biden Tax Plan: Details & Analysis | Tax Foundation

NOT JUST A POLL TAX?

LINK: https://taxfoundation.org/joe-biden-tax-plan-2020/

PDF FILE: https://files.taxfoundation.org/20201109095935/Details-and-Analysis-of-President-Elect-Joe-Bidens-Tax-Plan.pdf

The Bidentax plan includes the following payroll tax, individual income tax, and estate and gift tax changes.

It imposes a 12.4 percent Old-Age, Survivors, and Disability Insurance (Social Security) payroll tax on income earned above $400,000, evenly split between employers and employees.

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

***

EDITOR’S PRIVILEGE: The Pandemic and Going Mask-Less

EDITOR’S POINT OF PRIVILEGE

This week, for the first time in a year, I took a walk without wearing a mask. It was all going great until I saw a woman walking her dog approach me. She was wearing a mask, and my body instinctively moved to cross the street to give her space. It made me realize that we’ve been living in fear of other humans, which is pretty sad.

Pandemic-era habits die hard, but I’m confident we can once again re-wire our brains to view other people not as biological vectors for disease, but as … people, just with germs.

So, here’s to hoping this summer, we’ll learn to come together as quickly as we learned to distance.

DAVID EDWARD MARCINKO

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

Topics: https://healthcarefinancials.files.wordpress.com/2009/02/imba-inc-firm-services.pdf

THANK YOU

***

WALMART Medical School

Walmart heir to build medical school in Arkansas

[By Alia Paavola]

Walmart heir Alice Walton said she plans to finance and build a medical school in northwest Arkansas. 

The Whole Health School of Medicine in Bentonville will be a nonprofit, independent entity, and students enrolled will receive a doctor of medicine degree, according to a March 4 announcement. 

The medical school plans to admit its first class of 40 to 50 students in fall 2023. Construction on the facility is scheduled to begin next year. 

“The Whole Health School of Medicine will help medical students rise to the health challenges of the 21st century through a reimagination of American medical education that incorporates mental, emotional, physical and spiritual health, the elements of Whole Health, to help people live healthier and happier lives,” Ms. Walton said in the news release.

The project is related to the billionaire Walmart heir’s Whole Health Institute, a nonprofit center promoting holistic wellness slated to break ground next month. The institute is in Bentonville.

Pharmacies at Walmart, Sam's Club move to set opioid limits

READ HERE: https://www.beckershospitalreview.com/capital/walmart-heir-to-build-medical-school-in-arkansas.html

Your thoughts are appreciated.

THANK YOU

***

PODCAST: Transgender Health [Focus on Resiliency]

Network of the National Library of Medicine [NNLM]

[By Charlene Ice]

DEFINITION: Transgender people have a gender identity or gender expression that differs from the sex that they were assigned at birth. Some transgender people who desire medical assistance to transition from one sex to another identify as transsexual.

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

Network of the National Library of Medicine

And so, the Network of the National Library of Medicine Pacific Southwest Region at the UCLA Biomedical Library and Southeastern Atlantic Region at the University of Maryland-Baltimore are excited to announce the first NNLM Transgender Health webinar series.

With approximately 1 million adults in the U.S. identifying as Transgender/Gender Non-Binary (TGNB), this series will promote awareness of the social determinants of health, health disparities, and resilience in these individuals and communities.

A pioneer in LGBTQ care, Tang takes two steps forward for ...

PODCAST LINK: https://www.youtube.com/watch?v=evs-DScvcyc&t=784s

Gay Doctors: https://medicalexecutivepost.com/2009/04/03/the-gay-physician-dilemma/

Mental Health Programs: https://medicalexecutivepost.com/2020/09/30/mental-health-entrepreneurial-start-up/

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

***

A General Electric Healthcare [Physician] Investor Update

Enabling precision health PODCAST

Hi David, and all ME-P Readers and Subscribers

We’re proud to be a part of improving patient lives globally with precision health – personalizing diagnoses and treatments in a smarter and more efficient way.

In case you missed it, last week GE Healthcare’s Pharmaceutical Diagnostics business (PDx) announced the acquisition of Zionexa, a leading innovator of in-vivo oncology and neurology biomarkers that help enable more personalized healthcare.

Healthcare will scale Zionexa’s FDA-approved PET imaging agent Cerianna, which is used as an adjunct to biopsy for the detection of estrogen receptor (ER) positive lesions to help inform treatment selection for patients with recurrent or metastatic breast cancer.

This is the essence of precision health, and our continued commitment to innovation. Read more about Zionexa here.

And, as a reminder, Carolina will be participating in a fireside chat on May 12 at 12:10pm EDT during the Goldman Sachs Industrials & Materials Conference. We hope you and all interested ME-P readers and subscribers will tune in.

GE Healthcare logo

Best,
Steve Winoker

[GE Corporate]

Boston, MA

The Future of Health Care Under President Joe Biden?

A look at the President’s expressed priorities and actions to date

Todd Zigrang

By Todd Zigrang, MBA, MHA, FACHE, CVA, ASA

Jessica L. Bailey-Wheaton

By Jessica Bailey-Wheaton, Esq.

Health Capital Consultants, LLC

On January 20, 2021, Joseph R. Biden, Jr. was inaugurated as the 46th president of the United States. Due to the COVID-19 pandemic, among other concerns and long-standing issues, health care has become a central political issue and was hotly contested during the 2020 presidential debates.

A look at President Biden’s expressed priorities, signed executive orders, cabinet nominations and agency appointments during his first months in office provides indications as to the future—at least the short-term future—of U.S. health care.

Health Capital Consultants | LinkedIn

LINK: https://www.healthcapital.com/researchmaterialdocuments/publishedarticles/SLMM_April_2021-Biden.pdf

Your thoughts are appreciated.

THANK YOU

***

On Bill Gates, Doctors and Divorce – Oh My!

OF COMMON CAUSE WITH TOO MANY PHYSICIANS?

DEM avatar

Dr. David Edward Marcinko MBA CMP®

SPONSORED: http://www.CertifiedMedicalPlanner.org

CMP logo

Bill Gates has been a business hero for me for the past 35 years. I even met him, once briefly back in the day. So, the marital union of the Microsoft Founder and Melinda French seemed perfect, and their marriage stood the test of time as it neared the three-decade mark, a rare feat in the world of A-list couples.

Sadly, when they announced their split on Twitter this week, many were shocked, even heartbroken. People reflected on their own marriages and wondered how they could make it work if the Gates’ could not.

And collectively, we found we cared about the split — a lot. 

But, what about physician colleagues and divorce?

Do we doctors have some common cause with Bill and Melinda?

Divorce for Physicians What You Should Know - bidti.org

MEDIATION: https://medicalexecutivepost.com/2016/02/11/a-step-wise-approach-to-the-divorce-mediation-process-for-mds/

QDRO: https://medicalexecutivepost.com/2008/05/19/what-is-a-qdro/

SETTLEMENTS: https://medicalexecutivepost.com/2008/05/28/doctors-and-divorce-settlements/

PRACTICE VALUE: https://healthcarefinancials.files.wordpress.com/2011/12/medical-practice-valuation-blunders1.pdf

BUY-SELL: https://medicalexecutivepost.com/2008/07/03/marital-dissolution-buy-sell-agreements-and-practice-value/

GREY DIVORCE: https://medicalexecutivepost.com/2019/10/21/older-divorcing-medical-professionals/

ASSESSMENT: Your thoughts are appreciated

***

ORDER Textbook: 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

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

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

THANK YOU

***

Less Pain at the 2021 Easter Sunday Pump? Well, Maybe!

HAPPY EASTER 2021

This ME-P was originally posted in 2014 and updated annually since then.

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A Visual Guide to How Increasing Gas Prices are Burning Away the American Pocketbook

By Mint.com

Assessment

The times and gas prices have changed since 2014 – when we first started to track this; haven’t they?

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Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Please 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

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International Day of Women and Girls in Science

International Day of Women and Girls in Science

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World Cancer Day

February 4th, 2021

When is World Cancer Day 2021? World Cancer Day is observed worldwide on February 4. The aim is to inform and encourage people on its prevention, early detection, and treatment. This initiative was taken by the Union for International Cancer Control to campaign and advocate for the targets of the World Cancer Declaration, penned in 2008.

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About Cyber Monday 2020

How to Do it Like a Pro

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Need help getting the best online deals on Cyber Monday? You may with these shopping tips for our ME-P readers and subscribers, and you’ll be ready for the biggest online shopping day of the year.

Best of all, you can learn a few fun facts along the way!

Assessment

When you’ve learned everything you need to know, be sure to bookmark this Cyber Monday page and come back next year to again save on the best holiday gifts in 2021.

Source: overstock.com

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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

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Inside the “Fall” of the CDC?

By Pro Publica

LINK:

https://www.propublica.org/article/inside-the-fall-of-the-cdc?utm_source=pocket-newtab

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Your thoughts are appreciated!

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Why We Enjoy Labor Day in 2020

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A Brief History of the Holiday

From: Dr. David E. Marcinko; FACFAS MBA CMP™

From: Hope Rachel Hetico; RN MHA CMP™

From: Ann Miller; RN MHA

From: All MEP Staff, Contributors and Sponsors

Labor Day: How it Came About – What it Means

Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country.

Founder of Labor Day

More than 100 years after the first Labor Day observance, there is still some doubt as to who first proposed the holiday for workers.

Some records show that Peter J. McGuire, general secretary of the Brotherhood of Carpenters and Joiners and a cofounder of the American Federation of Labor, was first in suggesting a day to honor those “who from rude nature have delved and carved all the grandeur we behold.”

But Peter McGuire’s place in Labor Day history has not gone unchallenged. Many believe that Matthew Maguire, a machinist, not Peter McGuire, founded the holiday. Recent research seems to support the contention that Matthew Maguire, later the secretary of Local 344 of the International Association of Machinists in Paterson, N.J., proposed the holiday in 1882 while serving as secretary of the Central Labor Union in New York. What is clear is that the Central Labor Union adopted a Labor Day proposal and appointed a committee to plan a demonstration and picnic.

The First Labor Day

The first Labor Day holiday was celebrated on Tuesday, September 5, 1882, in New York City, in accordance with the plans of the Central Labor Union. The Central Labor Union held its second Labor Day holiday just a year later, on September 5, 1883.

In 1884 the first Monday in September was selected as the holiday, as originally proposed, and the Central Labor Union urged similar organizations in other cities to follow the example of New York and celebrate a “workingmen’s holiday” on that date. The idea spread with the growth of labor organizations, and in 1885 Labor Day was celebrated in many industrial centers of the country.

Labor Day Legislation

Through the years the nation gave increasing emphasis to Labor Day. The first governmental recognition came through municipal ordinances passed during 1885 and 1886. From them developed the movement to secure state legislation. The first state bill was introduced into the New York legislature, but the first to become law was passed by Oregon on February 21, 1887. During the year four more states — Colorado, Massachusetts, New Jersey, and New York — created the Labor Day holiday by legislative enactment. By the end of the decade Connecticut, Nebraska, and Pennsylvania had followed suit. By 1894, 23 other states had adopted the holiday in honor of workers, and on June 28 of that year, Congress passed an act making the first Monday in September of each year a legal holiday in the District of Columbia and the territories.

A Nationwide Holiday

The form that the observance and celebration of Labor Day should take were outlined in the first proposal of the holiday — a street parade to exhibit to the public “the strength and esprit de corps of the trade and labor organizations” of the community, followed by a festival for the recreation and amusement of the workers and their families. This became the pattern for the celebrations of Labor Day. Speeches by prominent men and women were introduced later, as more emphasis was placed upon the economic and civic significance of the holiday. Still later, by a resolution of the American Federation of Labor convention of 1909, the Sunday preceding Labor Day was adopted as Labor Sunday and dedicated to the spiritual and educational aspects of the labor movement.

The character of the Labor Day celebration has undergone a change in recent years, especially in large industrial centers where mass displays and huge parades have proved a problem. This change, however, is more a shift in emphasis and medium of expression. Labor Day addresses by leading union officials, industrialists, educators, clerics and government officials are given wide coverage in newspapers, radio, and television.

The vital force of labor added materially to the highest standard of living and the greatest production the world has ever known and has brought us closer to the realization of our traditional ideals of economic and political democracy. It is appropriate, therefore, that the nation pay tribute on Labor Day to the creator of so much of the nation’s strength, freedom, and leadership — the American worker.

Source: http://www.dol.gov/opa/aboutdol/laborday.htm

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

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Women’s Equality Day 2020

Women’s Equality Day in the USA

[By staff reporters]

Women’s Equality Day is celebrated in the United States on August 26th to commemorate the 1920 adoption of the Nineteenth Amendment (Amendment XIX) to the United States Constitution, which prohibits the states and the federal government from denying the right to vote to citizens of the United States on the basis of sex.

It was first celebrated in 1973 and is proclaimed each year by the United States President.

See the source image

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The World’s Biggest Economies Over Time

Highest GDP – The Continental Shift 

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CORONA VIRUS DEATHS

Unemployment

By staff reporters

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National Call Your Doctor Day – 2020

June 9, 2020

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R.I.P JAMES T. GOODRICH MD PhD

R.I.P JAMES T. GOODRICH MD PhD

Courtesy: www.MedicalExecutivePost.com

By Dr. David Edward Marcinko MBA

Famed Neuro-Surgeon Succumbs to Covid19

BREAKING NEWS: Dr. James T. Goodrich was director of the Division of Pediatric Neurosurgery and Professor of Clinical Neurological Surgery, Pediatrics, Plastic and Reconstructive Surgery at the Albert Einstein College of Medicine.

LINK: https://www.beckersspine.com/spine/item/48700-new-york-neurosurgeon-who-made-medical-history-dies-of-covid-19.html

CV: https://www.drjamestgoodrich.org/

A CATASTROPHE – I knew of him; of course. But, never fortunate to meet him.

A GIANT is gone! Not much else to say.

THE END

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Early Covid-19 Testing Results

A Per-Capita Snapshot

[By staff reporters]

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THANK YOU

“Flattening the Curve” of COVID-19 Infections

WHAT IT IS – HOW IT WORKS?

Courtesy: www.CertifiedMedicalPlanner.org

Our message on Corona Virus so far has been “don’t panic.” For the vast majority of individuals, Corona Virus is not an existential threat.

However, the rapid rate of the virus’s spread has the potential to overwhelm our health system and cause a lot of problems.

And so, colleague Aaron E. Carroll MD MS explains the infection curve, right here.

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PODCAST: https://theincidentaleconomist.com/wordpress/flattening-the-curve-of-coronavirus-infections/

Assessment: Your thoughts and comments are appreciated.

covid-19-curvesv3

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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Ending Childhood Obesity on “Fat” Tuesday

Join Our Mailing List

A Fat Tuesday Message in 2021

[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.

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

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

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

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

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Happy Thanksgiving Day 2019

2019

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The Medical Executive-Post

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A Test-Tube Turkey? That’ll Be $34,000

  Last year, Paul Mozdziak gave thanks that people are finally paying attention to his big idea: he wants to grow turkey meat in 5,000-gallon tanks.

An increasing number of companies are trying to grow other kinds of meat in the lab, but Mozdziak happens to “find a lot of beauty in turkeys.” His approach uses stem cells from a biopsy of turkey breast, which are grown in a warm broth of glucose and amino acids to build up muscle fibers. The potential is huge: theoretically, a single stem cell could undergo 75 generations of division in three months, forming enough muscle to manufacture 20 trillion turkey nuggets.

But such such efficiencies are yet to be met. Currently, a turkey-sized lump of white meat would require around $34,000 worth of growth serum. At Target, you can pick up a respectable frozen bird for $15. But the latter are intensively farmed. If Mozdziak can scale up production, as well as tweaking fat and protein ratios to make his turkey tasty, he could even win over some vegetarians at Thanksgiving.

MIT Technology Review

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R.I.P Liane B. Russell Ph.D

Liane B. Russell – Age 95

 

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

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

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Annuities Do Not Belong In 401(k) Plans

Here is Why?

By Rick Kahler CFP

Several weeks ago I wrote about the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which will reform various aspects of US retirement laws. The Act was passed by the House in May and is currently stalled in the Senate.

One of the most troubling of the SECURE Act’s 29 provisions is that it will ease regulations to make it easier for financial salespeople to sell annuities to 401(k) plan participants.

This is alarming, as the act creates a safe harbor for annuities inside 401(k) plans. That means companies choosing to offer annuities would be shielded from liability—no matter how terrible an investment the annuity products may be. This provision has great potential for harm.

Annuities seem always to be a hot financial product in the market place. It’s rare when I interview a new client that they don’t have at least one in their portfolio. Often, it’s the only investment they own. Annuities are not hot because consumers are clamoring to buy them, but rather because annuity sales people love to sell them.

While I rarely recommend them, there are some good things about annuities, especially that earnings grow tax deferred until distributed. They can be useful in this regard in special situations—when stripped of their high fees and commissions. Therein lies the problem.

Sales

Most annuities sold by salespeople inherently contain high fees, big commissions, and high penalties to consumers for taking money out early. What that means for the investor is low returns. For those reasons, the negative aspects of annuities far outweigh any good.

Even worse, annuities have no place being owned by an IRA or, as the SECURE Act would allow, a 401(k) plan. Regardless of fees or commissions, no annuity belongs in a retirement plan. One of my top pet peeves as a financial planner is so-called “financial advisors” who sell people fixed and variable annuities for a retirement account. This makes no sense.

An annuity is a tax-deferred container to put investments in, not an investment itself. It’s what investments are inside it that matters. The same is true of  IRAs and 401(k) retirement plans. Since a retirement plan is already a tax-deferred investment container, it makes no sense to put an annuity—another tax-deferred investment container—inside of it. The silliness of this is obvious to even the most casual observer, unless your livelihood comes from selling these products.

Agents and their companies spare no expense in developing convincing storylines, half-truths, and slight-of-hand explanations of why it makes perfect sense for a retirement plan to own an annuity.

The bottom line is that annuities are sold, they are not bought. The only reason annuities are purchased in someone’s retirement account is because the salesperson receives a much higher commission from the transaction than selling a mutual fund, individual stocks, or CDs.

Why?

So why did our Representatives vote 417-3 to open up investors’ 401(k) plans to these high-cost, high-commissioned, financially disastrous products? I can only surmise that most of them didn’t fully understand what they were voting on and that the insurance lobby did their normal amazing job of selling the alleged benefits of annuities. Oh, and maybe there was a campaign contribution or two.

Assessment

Most annuities are expensive investment vehicles that benefit the salesperson and the company far more than they benefit you. If you are thinking of buying one, or in the future your 401(k) offers the option of buying an annuity, do some digging before you sign on the dotted line. Make sure you get advice first from someone other than the annuity salesperson—someone with no vested interest in selling you this product.

Your thoughts are appreciated.

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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What is Doxxing?

Can You Avoid It?

[By staff reporters]

Doxing (from dox, abbreviation of documents), or doxxing, is the Internet-based practice of researching and broadcasting personally identifiable information about an individual.

The methods employed to acquire this information include searching publicly available databases and social media websites (like Facebook), hacking, and social engineering.

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Doxing is therefore a standard tactic of online harassment and has been used by people associated with 4chan and in the Gamergate and vaccine controversies.

The ethics of doxing by journalists, on matters that they assert are issues of public interest, is an area of much controversy. Many authors have argued that doxing in journalism blurs the line between revealing information in the interest of the public and releasing information about an individual’s private life against their wishes.

MORE: https://www.gohacking.com/what-is-doxing-and-how-it-is-done/

THINK: HIPAA

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™

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Remembering 9/11

Rest in Peace

The ME-P Remembers

[Never Forget]

Breaking Healthcare Business News

0Breaking News and Updates

By http://www.MCOL.com

Atul Gawande Says His Goal Is Better Health Care for 1 Million Workers
Bloomberg, June 21, 2018

New Labor Rule Will be a Big Health Care Boon for Small Businesses
The Hill, June 20, 2018

The Benefits of Benefits: Why Employers Can’t Afford Inadequate Workplace Perks
Cision PRnewswire, June 19, 2018

Benefit Offerings Mature Along With the Millennials Employers Want to Hire
Bloomberg, June 14, 2018

Costs are Rising for Employer-Sponsored Insurance — Again
CBS News, June 13, 2018

Health Insurers Mount Major Defense of ‘Coverage at Work’
ThinkAdvisor, June 13, 2018

Fed Up With Rising Costs, Big U.S. Firms Dig Into Healthcare
Reuters via NY Times, June 11, 2018

Employers Urge Trump Administration to Pull Back on Obamacare Mandate
Modern Healthcare, June 1, 2018

A Health Plan with a la Carte Coverage
Star Tribune, May 25, 2018

Happy World Oral Health Day

Join Our Mailing List
Happy World Oral Health Day

[By Staff Reporters]

Today is March 20th – World Oral Health Day (WOHD), a day in which dentists and organizations worldwide are promoting oral health.

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According to the FDI WOHD website, 90% of the world’s population will suffer from oral diseases in their lifetime, and many of them can be avoided with increased governmental, health association and society support and funding for prevention, detection and treatment programs.

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Survival Trends for GI Cancers

Five Years Trends

By http://www.MCOL.com

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Conclusion

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

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Contact: MarcinkoAdvisors@msn.com

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Post MVA: GO FUND ME for Kirby “Sasha” Fenton

Post M.V.A.

By Dr. Charles F. Fenton III JD

My son, Kirby “Sasha” Fenton sustained a devastating medical injury in a motor vehicle accident on January 16, 2018 in Marietta, GA.

As of this writing, he had surgery last night and has additional surgery planned for this morning (due to blood loss during the first surgery). Additional surgeries are expected. He will be in Wellstar Kennestone Hospital for at least a week and then will be transferred to a rehabilitation facility for an extended period of time.

He is NOT expected to make a full recovery. He will have permanent, significant disability.

Sasha needs funds for (1) medical expenses, (2) legal expenses connected to the accident, (3) rehabilitation expenses, and (4) most especially expenses relating to his transitioning to his life as a disabled person – this is really where he needs the bulk of funds.

Marietta Daily Journal Article: http://www.mdjonline.com/news/police-marietta-teen-thrown-from-motorcycle-after-passing-cars/article_c6a53874-fb02-11e7-a34c-8325493600cf.html

Sasha will appreciate your generosity.

Thank You

https://www.gofundme.com/kirby-sasha-fenton-rehab-fund

EDITOR’S DISCLOSURE: Dr. Fenton is a friend, colleague and frequent contributor to this ME-P, as well as our textbooks and related white-papers.

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Is this the NEXT OPIOID CRISIS?

A Gabapentin Prescriptions Surge May be Brewing Out-There!

By Dr. David Edward Marcinko MBA

Prescriptions for nerve pain medicines like gabapentin (Neurontin) and pregabalin (Lyrica) have more than tripled in recent years, driven by increased use among chronically ill older adults and patients already taking opioids, a U.S. study suggests. The proportion of US adults prescribed gabapentin and other drugs in the same family of medicines climbed from 1.2% in 2002 to 3.9% by 2015, a period that also saw a surge in opioid overdoses and deaths.

The drug class, known as gabapentinoids, includes gabapentin (Neurontin, Gralise, Horizant) and pregabalin. “Nearly 1 in 25 adults takes a gabapentinoid during a year, which matters because we have little data to support much use of this drug class and minimal data to support the long-term safety of the medications,” said study author Dr. Michael Johansen of the Heritage College of Osteopathic Medicine at Ohio University in Athens.

Source: Reuters Health News via MDLinx [1/8/18]

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Assessment

I hate to admit that these drugs did not even exist when I was in medical school. So, can we assume that most doctors today learned about them thru drug reps, TV, radio, internet, blog and vlog advertising, etc? 

More: https://www.painmedicinenews.com/Clinical-Pain-Medicine/Article/03-18/Gabapentin-and-Opioids-a-Potentially-Deadly-Combination/47053?sub=C143BC655DA759D99E56383AE3C0C55ECB64ABF25DFEFEA185C6CA3F4F86B4&enl=true&lipi=urn:li:page:d_flagship3_feed;y0AoiQmuRTy3ozEhwaJ0iQ%3D%3D

Is this the next opioid or drug crisis in the USA? Doctor colleagues, please think about the antibiotic resistance problem. Economic colleagues, please think about the “law of substitutions.” All, think about recreational marijuana? http://www.HealthDictionarySeries.org

Conclusion

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

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

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

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

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