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    As a former Dean and appointed University Professor and Endowed Department Chair, Dr. David Edward Marcinko MBA was a NYSE broker and investment banker for a decade who was respected for his unique perspectives, balanced contrarian thinking and measured judgment to influence key decision makers in strategic education, health economics, finance, investing and public policy management.

    Dr. Marcinko is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; as well as Oglethorpe University and Emory University in Georgia, the Atlanta Hospital & Medical Center; Kellogg-Keller Graduate School of Business and Management in Chicago, and the Aachen City University Hospital, Koln-Germany. He became one of the most innovative global thought leaders in medical business entrepreneurship today by leveraging and adding value with strategies to grow revenues and EBITDA while reducing non-essential expenditures and improving dated operational in-efficiencies.

    Professor David Marcinko was a board certified surgical fellow, hospital medical staff President, public and population health advocate, and Chief Executive & Education Officer with more than 425 published papers; 5,150 op-ed pieces and over 135+ domestic / international presentations to his credit; including the top ten [10] biggest drug, DME and pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published academic text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].

    Dr. David E. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner® who was named “Health Economist of the Year” in 2010. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics trade journals and publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News] etc.

    Later, Dr. Marcinko was a vital and recruited BOD  member of several innovative companies like Physicians Nexus, First Global Financial Advisors and the Physician Services Group Inc; as well as mentor and coach for Deloitte-Touche and other start-up firms in Silicon Valley, CA.

    As a state licensed life, P&C and health insurance agent; and dual SEC registered investment advisor and representative, Marcinko was Founding Dean of the fiduciary and niche focused CERTIFIED MEDICAL PLANNER® chartered professional designation education program; as well as Chief Editor of the three print format HEALTH DICTIONARY SERIES® and online Wiki Project.

    Dr. David E. Marcinko’s professional memberships included: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA, FPA and HIMSS. He was a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.

    Marcinko is “ex-officio” and R&D Scholar-on-Sabbatical for iMBA, Inc. who was recently appointed to the MedBlob® [military encrypted medical data warehouse and health information exchange] Advisory Board.

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ENTER A HEALTHCARE ENTREPRENEURIAL BUSINESS “DISRUPTOR” FOR 2020

ENTER A HEALTHCARE ENTREPRENEURIAL BUSINESS “DISRUPTOR” FOR 2020
Courtesy: https://lnkd.in/eBf-4vY

A New Initial Public Offering [I.P.O.]

On January 30, 2020, 1Life Healthcare, Inc. (One Medical) went public, opening at $14 per share, and closing at $22.07 per share. The innovative San Francisco-based direct primary care organization more closely resembles a technology start-up than a traditional healthcare organization.

LINK: https://lnkd.in/eZxrhtp

Their membership model service provides “seamless access” to primary medical care services at “calming offices,” 24/7 virtual care, and 21st century technology (e.g., a mobile application that allows patients to schedule appointments and message their providers).


And so, here is a report from colleagues over at Health Capital Consultants, LLC.
ESSAYhttps://lnkd.in/gVqDVR4
Your thoughts and comments are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
1 – https://lnkd.in/ebWtzGg
2 – https://lnkd.in/ezkQMfR
3 – https://lnkd.in/ewJPTJs
THANK YOU
****

WANT TO JOIN A PRIVATE MICRO-NETWORK?

THE FUTURE VALUE IS IN “WHO” WE CONNECT !

By Dr. David E. Marcinko MBA

Forget amassing “likes”, “smiles”, “winks” or cultivating your online persona. Micro-Networks are all about being your true authentic self with just a select and carefully curated few people; and that’s it! No social influencers, marketers or viral posts. Just micro-segmentation!

THINK: Family members, professional colleagues, neighbors and close friends; sport or class-mates, and co-workers or faculty members in small distinct groups. There is no “network” as you occupy the space with just these people. The total number of participants is pre-determined; 25, 50, 100, 175, 250; etc. And, when reached, the only way to add new members is for existing members to drop out.

“The Vital Few … Not the Trivial Many.”

QUERY: Would you join a micro-network? What cohort of members?

Please comment.

QUERY: Would you pay a small membership surcharge? How much?

Please comment.

ASSESSMENT: Your thoughts and comments are appreciated.

THANK YOU

***

Tell Us the Issues Affecting your Medical Practice, Clinic, Start-Up Wellness Center or Hospital

Join Our Mailing List

[By staff reporters]

Tell us about the issues affecting your medical practice, clinic, hospital, wellness center, or healthcare organization in 2020.

We are conducting a brief survey to learn more about the key issues affecting your healthcare entity, and how they impact your outlook for the coming year.

Just send in your thoughts on the survey form below.

 

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

Product DetailsProduct Details

Product DetailsProduct Details

***

Tips for the Medical Educator’s “Elevator Pitch”

On Medical Academic – Not Business – Planning

Courtesy: www.CertifiedMedicalPlanner.org

By Dr. David E. Marcinko MBA

We’ve written and opined about medical business entrepreneurs and business start-up plans; before:

MY ESSAY: https://medicalexecutivepost.com/2020/01/20/creating-a-medical-practice-business-plan-in-2020/

MY SCRIPT: https://healthcarefinancials.files.wordpress.com/2017/08/podcast.pdf

QUERY: But, did you ever wonder what to say when you’re standing next to a senior physician colleague who could help further your academic and educational work?

MOOCS: https://medicalexecutivepost.com/2018/09/25/moocs-are-you-an-i-t-educational-futurist/

FLIPPED CLASSROOM: https://medicalexecutivepost.com/2019/05/17/the-flipped-classroom/

***

elevator

***

Now, for some granular specificity; let’s cue the elevator pitch with David Acosta MD and Daniel Hashimoto MD MS who demonstrate what to do (and what not to do) to successfully deliver your medical educator’s elevator pitch.

PODCAST http://academicmedicineblog.org/tips-for-the-medical-educators-elevator-pitch/

Your thoughts are appreciated.

TEXTS FOR PHYSICIAN EXECUTIVES AND HOSPITAL CXOs:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

THANK YOU

Product DetailsProduct DetailsProduct Details

***

Twenty [20] Habits of “Eventual” Millionaires

But, Maybe NOT … Doctors!

By staff reporters

***

***

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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On Bonini’s Paradox

What it is – How it works!

[By staff reporters]

Bonini’s paradox, named after Stanford business professor Charles Bonini, explains the difficulty in constructing models or simulations that fully capture the workings of complex systems (such as the human brain

 ***

***

MORE: https://en.wikipedia.org/wiki/Bonini%27s_paradox

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ezkQMfR

2 – https://lnkd.in/ewJPTJs

***

Product DetailsProduct DetailsProduct Details

THANK YOU

Help a Veteran with “Pro Bono” Medical Care -OR- Financial Planning Advice

Join Our Mailing List 

[By Staff Reporters]

As a doctor, you have a unique position in society and the ability to help your fellow man/woman during the most frail, jubilant and sacred times of human life; even unto the end.

HELP a Veteran today!

***

Veteran's Day 2012

VETERAN’S DAY 2019

***

Assessment

Similarly, as a financial advisor, you have a unique position in society and the ability to help your fellow man/woman during their most financially fragile times of life; even unto the end.

So, be a fiduciary advisor; not just a Registered Representative, commissioned sales person, or agent.

HELP a Veteran today!

More: Are You Providing Pro Bono Financial Advice? [Voting Poll and Survey]

MORE: VA Cost Accounting

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:

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™

***

Although this book targets physicians, I was pleased to see that it also addressed the risk management, financial planning and employment benefit needs of nurses; physical, respiratory, and occupational therapists; CRNAs, hospitalists, and other members of the health care team….highly readable, practical, and understandable.

Captain CASH Unit Iraq [retired] – Cecelia T. Perez RN [Hospital Operating Room Manager, Ellicott City, Maryland

perez-x-mass

***

On Basic Decision-Making Science?

DECISION-MAKING AND THE “ANALYSIS OF PARALYSIS”

Courtesy: www.CertifiedMedicalPlanner.org

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

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

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

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

Your thoughts and comments are appreciated.

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

On Injecting Elemental Mercury

Please – Do Not Do This!

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

***

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

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

Normal AP Chest X-Ray

***

***

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

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

***

Assessment

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

Your thoughts  are appreciated.

***

Product DetailsProduct DetailsProduct Details

***

 

Why are CERTIFIED MEDICAL PLANNER® Textbooks SO DARN Popular?

[By Dr. David Edward Marcinko MBA CMP®]

http://www.CertifiedMedicalPlanner.org

OK – I was a Certified Financial Planner® before my academic team launched the Certified Medical Planner™ online and on-ground chartered education and board certification designation program a few years ago. I am now CFP reformed and in remission.

MORE: Enter CPMs

Enter the Certified Medical PlannerChartered Designation

Today, we are of course, gratified that Certified Medical Planner™ mark notoriety is growing organically in the healthcare, as well as financial services, industry.

Even uber-blogger Mike Kitces MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL has taken note of us in his musings on the Nerd’s Eye View website. And, the reality is that there are a growing number of CFP educational programs at the post-CFP niche market level.

But, none for healthcare industrial complex: for doctors … by doctors!

Popularity of our Text Books

However, it is our modern, innovative and proprietary Certified Medical Planner™ textbooks and dictionaries that have exploded in the academic marketplace.

In fact, they are now redacted in thousands of medical, graduate, law and B-schools and libraries, as well as colleges and universities throughout the nation. This includes the Library of Congress, National Institute of Health and  the Library of Congress.

What Gives?

We have been told that this textbook popularity and publishing success is because of their balanced and peer-reviewed nature; something not very widespread in the financial services industry that is prone to gross and overstated advertising, salesmanship and marketing hyperbole. And, for this we are very gratified.

But, is there another reason our books are so popular?

A bit of networking and research suggests that interested folks may be eschewing the actual course work in favor of just the high quality textbooks! UGH!

Another reason may be that our books and curricula are kept fresh and updated on our corporate website: http://www.MedicalBusinessAdvisors.com

Assessment

So, what do you think? Matriculation with the professional mark versus self study without the designation mark. Please opine.

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.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

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™

Product DetailsProduct Details

HOSPITALS:

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

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

Product DetailsProduct Details

Adult Learners and Students:

Product DetailsProduct DetailsProduct Details

***

About the Richard Feynman Learning Technique

What it is – How it works?

[By staff reporters]

I’ve taught at the undergraduate, graduate, business and medical school levels. And, I’ve used and modified the Feynman technique at every level.

***

***

Learning From the Richard Feynman Technique

  1. Identify the subject. Write down everything you know about the topic.
  2. Teach it to a child. If you can teach a concept to a child, you’re way ahead of the game.
  3. Identify your knowledge gaps. This is the point where the real learning happens.
  4. Organize + simplify + Tell a story. Start to tell your story.

VIDEO: https://collegeinfogeek.com/feynman-technique/

Assessment: Some time the Feynman Technique even reminds me of the 70-20-10 Leadership Model.

LINK: https://medicalexecutivepost.com/2018/05/18/what-is-the-70-20-10-leadership-model/

Conclusion: 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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Invite Dr. Marcinko

***

 

Evaluating the “Flipped Classroom”

What it is – How it Works?

[By Dr. David E. Marcinko MBA M.Ed]

According to Wikipedia, a flipped classroom is an instructional strategy and a type of blended learning that reverses the traditional learning environment by delivering instructional content, often online, outside of the classroom. It moves activities, including those that may have traditionally been considered homework, into the classroom.

In a flipped classroom, students watch online lectures, collaborate in online discussions, or carry out research at home while engaging in concepts in the classroom with the guidance of a mentor.

**

Invite Dr. Marcinko

***

MORE: https://medicalexecutivepost.com/2018/09/25/moocs-are-you-an-i-t-educational-futurist/

MORE: https://medicalexecutivepost.com/2018/10/02/what-is-your-teaching-philosophy/

MORE: https://teachthought.com/learning/10-pros-cons-flipped-classroom/

Assessment:

But, does it work? In vivo -OR- in vitro? 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™

***

 

Celebrate National Nurses Week 2019

CONGRATULATIONS!

***

May 6 – 12

National Nurses Week 2019 – What Health

CELEBRATE!

Physician Shortage Projections

FY 2032

By: http://www.MCOL.com

***

***

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™

***

Invite Dr. Marcinko

***

MARCINKO’s New Risk Management and Asset Protection Textbook for MDs and Financial Advisors

Join Our Mailing List

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors [Best Practices from Leading Consultants and Certified Medical Planners]

***

 Our New Text – “Take a Peek Inside 

Available – ORDER NOW!

***

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

***

Foreword by J. WESLEY BOYD MD PhD MA

logos

“BY DOCTORS – FOR DOCTORS – PEER REVIEWED – FIDUCIARY FOCUSED”

***

Book Reviews

“Physicians who don’t understand modern risk management, insurance, business and asset protection principles are sitting ducks waiting to be taken advantage of by unscrupulous insurance agents and financial advisors; and even their own prospective employers or partners. This comprehensive volume from Dr. David Marcinko, and his co-authors, will go a long way toward educating physicians on these critical subjects that were never taught in medical school or residency training.”
—Dr. James M. Dahle, MD, FACEP, Editor of The White Coat Investor, Salt Lake City, Utah, USA

“With time at a premium, and so much vital information packed into one well organized resource, this comprehensive textbook should be on the desk of everyone serving in the healthcare ecosystem. The time you spend reading this frank and compelling book will be richly rewarded.”
—Dr. J. Wesley Boyd, MD, PhD, MA, Harvard Medical School, Boston, Massachusetts, USA

“Physicians have more complex liability challenges to overcome in their lifetime, and less time to do it, than other professionals. Combined with a focus on practicing their discipline, many sadly fail to plan for their own future. They need trustworthy advice on how to effectively protect themselves, families and practice, from the many overt and covert risks that could potentially disrupt years of hard work.
Fortunately, this advice is contained within ‘Risk Management, Liability Insurance, And Asset Protection Strategies For Doctors And Advisors: Best Practices From Leading Consultants And Certified Medical Planners™’. Written by Dr. David Edward Marcinko, Nurse Hope Rachel Hetico and their team of risk managers, accountants, insurance agents, attorneys and physicians, it is uniquely positioned as an integration of applied, academic and peer-reviewed strategies and research, with case studies, from top consultants and Certified Medical Planners™. It contains the latest principles of risk management and asset protection strategies for the specific challenges of modern physicians. My belief is that any doctor who reads and applies even just a portion of this collective wisdom will be fiscally rewarded. The Institute of Medical Business Advisors has produced another outstanding reference for physicians that provide peace of mind in this unique marketplace! In my opinion, it is a mandatory read for all medical professionals.”
—David K. Luke, MS-PFP, MIM, CMP™, Net Worth Advisory Group, Inc., Sandy, Utah, USA

“This book is a well-constructed, comprehensive and experiential view of risk management throughout the entire medical practice life-cycle. It is organized in an accessible, high-yield style that is familiar to doctors. Each chapter has case models, examples and insider tips and useful pearls. I was pleased to see multi-degreed physicians sharing their professional experiences in a textbook on something other than clinical medicine. I can’t decide if this book is right on – over the top – or just plain prescient. Now, after a re-read, I conclude it is all of the above; and much more.”
—Dr. Peter P. Sidoriak, Pottsville, Pennsylvania, USA

“When a practicing physician thinks about their risk exposure resulting from providing patient care, medical malpractice risk immediately comes to mind. But; malpractice and liability risk is barely the tip of the iceberg, and likely not even the biggest risk in the daily practice of medicine. There are risks from having medical records to keep private, risks related to proper billing and collections, risks from patients tripping on your office steps, risks from medical board actions, risk arising from divorce, and the list goes on and on. These liabilities put a doctor’s hard earned assets and career in a very vulnerable position. This new book from Dr. David Marcinko and Prof. Hope Hetico shows doctors the multiple types of risk they face and provides examples of steps to take to minimize them. It is written clearly and to the point, and is a valuable reference for any well-managed practice. Every doctor who wants to take preventive action against the risks coming at them from all sides needs to read this book.”
—Richard Berning, MD, FACC, New Haven, Connecticut, USA

“This is an excellent companion book to Dr. Marcinko’s Comprehensive Financial Planning Strategies For Doctors And Advisors: Best Practices from Leading Consultants and Certified Medical Planners™. It is all inclusive yet easy to read with current citations, references and much frightening information. I highly recommend this text. It is a fine educational and risk management tool for all doctors and medical professionals.”
—Dr. David B. Lumsden, MD, MS, MA, Orthopedic Surgeon, Baltimore, Maryland, USA

“This comprehensive text book provides an in-depth presentation of the cyber security and real risk management, asset protection and insurance issues facing all medical profession today. It is far beyond the mere medical malpractice concerns I faced when originally entering practice decades ago.”
—Dr. Barbara s. Schlefman, DPM, MS, Family Foot Care, PA, Tucker, Georgia, USA

“Am I over-insured and thus wasting money? Am I under-insured and thus at risk for a liability or other disaster? I never really had the means of answering these questions; until now.”
—Dr. Lloyd M. Krieger, MD, MBA, Rodeo Drive Plastic Surgery, Beverly Hills, California, USA

“I read and use this book, and several others, from Dr. David Edward Marcinko and his team of advisors.”
—Dr. John Kelley, DO, Orthopedic Surgeon, Tucker, Georgia, USA

“An important step in the risk management, insurance planning and asset protection process is the assessment of needs. One can create a strong foundation for success only after all needs have been analyzed so that a plan can be constructed and then implemented. This book does an excellent job of recognizing those needs and addressing strategies to reduce them.
—Shikha Mittra, MBA, CFP®, CRPS®, CMFC®, AIF®, President – Retire Smart Consulting LLC, Princeton, New Jersey, USA

“The Certified Medical Planner™ professional designation and education program was created by the Institute of Medical Business Advisors Inc., and Dr. David Edward Marcinko and his team (who wrote this book). It is intended for financial advisors who aim specifically to serve physicians and the medical community. Content focuses not only on the insurance and professional liability issues relevant to physicians, but also provides an understanding of the risky business of medical practice so advisors can help work more successfully with their doctor-clients.”
—Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, http://www.Kitecs.com, Reston, Virginia, USA

“I have read this text and used consulting services from the Institute of Medical Business of Advisors, Inc. on several occasions.”
—Dr. Marsha Lee, DO, Radiologists, Norcross, Georgia, USA

“The medical education system is grueling and designed to produce excellence in medical knowledge and patient care. What it doesn’t prepare us for is the slings and arrows that come our way once we actually start practicing medicine. Successfully avoiding these land mines can make all the difference in the world when it comes to having a fulfilling practice. Given the importance of risk management and mitigation, you would think these subjects would be front and center in both medical school and residency – ‘they aren’t.’ Thankfully, the brain trust over at iMBA Inc., has compiled this comprehensive guide designed to help you navigate these mine fields so that you can focus on what really matters – patient care.”
—Dennis Bethel, MD, Emergency Medicine Physician

MORE: FRONT MATTER Risk Management

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My Upcoming Trip to Tuskegee University in Alabama

VISITING WORLD FAMOUS TUSKEGEE UNIVERSITY

Dr. David E. Marcinko MBA

Just a quick announcement that I will be at Tuskegee University on Friday April 12th to keynote a niche seminar on biological sciences, medical education and contemporary healthcare career trends.

Link: https://www.tuskegee.edu/programs-courses/colleges-schools/cas/office-of-the-dean-cas

The gracious invitation was extended by College of Arts & Sciences Dean Channa Prakash PhD and Assistant Dean Dr. Joe Jimmeh; with renowned faculty and basic science researchers Dr. Marcia Martinez, Dr. Richard Whittington, Dr. Albert Russell, Dr. Clayton Yates; and Professor of Mathematics Dr. Mohammad Qazi to attend. 

Link: https://www.tuskegee.edu/programs-courses/colleges-schools/cas/cas-faculty-and-staff

I am especially eager to tour the historic TU campus, and meet two-time graduate Dr. Roberta Troy who is Founding Director of the Health Disparities Institute for Research and Education (HDIRE). As a native of Baltimore, Maryland, this is an important issue to me. And, Dr. Troy was just appointed new University Provost. I understand she is a true academic dynamo and congratulate her, collegially.

Of course, I will be sure to order a slice of Dorothy Restaurant’s specialty key-lime pie at the Kellogg Conference Center during the post-reception dinner. Yummy!

HOPE TO SEE YOU, THERE!

tuskegee_university_campus_01

 

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Advertise on the Medical Executive-Post and Reap the Benefits

Join Our Mailing List

Reach Industry Pros, Executives and Decision-Makers with Ease

By Ann Miller RN MHA [Executive-Director]

MarcinkoAdvisors@msn.com

The Medical Executive Post [ME-P] is the premier online community and marketing platform that allows you to profile your company’s product and services to financial advisors, stock brokers, insurance agents, financial planners, accountants, wealth-managers and their highly-targeted healthcare professional clients.

Highlight your company’s news, events, white papers, videos and contact information – all in one place – and update your information 24/7.

And, because we’ll promote your resources to the entire ME-P eco-space, it’s a highly efficient way to fortify your existing marketing programs with the critical decision makers you’re trying to reach.

Why should your company sponsor the ME-P? 

  • Reader loyalty. Not only does the ME-P receive a mind-boggling number of page views and visits each month, its readers are loyal.
  • Reader stature. ME-P readers are experienced industry pros, executives and decision-makers.
  • Selective advertising. The ME-P is a free read that’s off the radar of the big-ad companies. Your ad here stands out as personal and different.
  • Supporting the ME-P makes a big difference and costs only a fraction of other online publications with far fewer readers.
  • Cost. CPM is ridiculously low compared to other sites.
  • E-mail us for a full packet, but give a look to these results from the ME-P’s annual reader survey:
  • 89% of readers said the ME-P influences their perception of products and companies
  • 34% said that ME-P sponsorship alone give them a higher interest or appreciation for those companies
  • 754% said the ME-P has some, a good bit, or a lot of industry influence

Contact us and I’ll e-mail you a rate card. Your support makes a difference!

 Text Ads

We have great sponsor packages, but maybe you want to run a short-term ad — a position listing, an announcement, or your booth number at an upcoming conference. Or, perhaps your company is between budget cycles and can’t commit to sponsorship yet. We’ve got an answer – ME-P text ads.

Text ads are up to five lines long and are highly cost-effective. You’ll get about 25-35,000 impressions per week, reaching the ME-P’s highly targeted and loyal audience of decision-makers. Think small text ads don’t work? They’ve made two Google kids billionaires!

PayPal Certified

All ME-P text ad costs are for one month, payable in advance online via PayPal. We’ll post it quickly and you’ll see results almost immediately.

Assessment

Why waste money on magazines that never get read and with months of lead time required? The best way to quickly reach the critical mass of the healthcare and financial services industry is right here on the ME-P.

So, advertise with the Medical Executive-Post and Reap the Benefits

Conclusion

Request a rate card, today!

MarcinkoAdvisors@msn.com

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

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Challenging the 10,000 Hours to Mastery Rule?

Outliers: The Story of Success

[By staff reporters]

This book was the third non-fiction book written by Malcolm Gladwell and published by Little, Brown and Company on November 18, 2008.

In Outliers, Gladwell examined the factors that contribute to high levels of success.

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To support his thesis, he examined why the majority of Canadian ice hockey players are born in the first few months of the calendar year, how Microsoft co-founder Bill Gates achieved his extreme wealth, how the Beatles became one of the most successful musical acts in human history, how Joseph Flom built Skadden, Arps, Slate, Meagher & Flom into one of the most successful law firms in the world, how cultural differences play a large part in perceived intelligence and rational decision making, and how two people with exceptional intelligence, Christopher Langan and J. Robert Oppenheimer, end up with such vastly different fortunes.

Throughout the publication, Gladwell repeatedly mentions the “10,000-Hour Rule“, claiming that it is the key to achieving world-class expertise in any skill.

But, is he correct?

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MORE: https://www.businessinsider.com/expert-rule-10000-hours-not-true-2017-8

Assessment

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.

HOSPITALS:

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

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

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Why Am I Still Talking?

OR –  Why W.A.I.T.?

 

 

 

 

 

By Dr. David E. Marcinko MBA

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Assessment

  • When you speak – you do not learn.
  • When you listen – you may learn.

Seek to learn!

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.

HOSPITALS:

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

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

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The “Deeper Dive” Costs of College Debt

Unintended Consequences?

[By Rick Kahler MSFS CFP]

Not only is a college education a door to higher wages, but providing that education is an important segment of our economy and a huge source of good paying jobs.

In 2017 the average salary for the country’s 624,822 full-time college instructors was $82,240, according to an annual study from the Department of Education’s National Center of Education Statistics.

The old days

In the days before college loans were as easy to get as the common cold, college costs were due in cash. Students and parents had to save money or pay tuition out of their earnings. Many students worked their way through college. Those without savings, the ability or desire for college jobs, or high enough grades for scholarships didn’t go to college.

Since colleges competed for students, market forces controlled the tuition rates. Raising tuition too much resulted in fewer students and smaller revenues. The two forces of supply (college capacity) and demand (the ability to pay tuition) kept college costs in check.

Understandably, borrowing to pay for college tuition was difficult. What sane bank or investor would loan money to an unemployed teenager with no collateral to speak of? If you could find someone willing to make such a risky loan, the interest rate was high.

Politics

Well-intended politicians decided it wasn’t fair that those without the means to pay tuition were denied college educations. Their solution was to require taxpayers to underwrite college loans, sometimes at interest rates lower than those available to the most creditworthy.

With tuition money easy to obtain through low-cost, government backed loans, demand for a college education increased. With the increased demand came higher tuition costs. This easy money is the primary reason that college tuition costs have far outpaced inflation and have gone up twice as fast as medical costs since 1985.

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Consequences

Unfortunately, one consequence of loaning money to those deemed poor risks is that a high percentage of those borrowers are unable to repay the debt.  It should come as no surprise that 10.7% of all student loans are currently 90 days or more in default. Conversely, the composite default rate on mortgages, credit cards, and auto loans is 0.82% as of October 2018.

Today, taxpayers are on the hook for over 92% of the $1.5 trillion in outstanding student loans made to over 44 million borrowers, according to a June 13, 2018, Forbes article by Zack Friedman, “Student Loan Debt Statistics in 2018.” Only home mortgages exceed student loan debt.

And the appetite for loans continues to rise. The average student from the Class of 2016 graduated with over $37,000 of college debt. It isn’t uncommon for a medical student to amass over $200,000 of student loan debt. This year we will add another $120 billion in college debt to the books.

The more college debt that graduates take into the workplace, the less they have to spend for vehicles, rent, and consumer goods. The damage to the credit ratings of the 10.7% who are in default will also hinder their purchasing power for years to come.

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Assessment

If taxpayers ever decide to quit footing the bill, my hunch is that many colleges’ tuition rates will fall as hard as housing prices did in Florida, Arizona, and California in 2009. Lower tuition costs would create a financial hardship for most colleges and the some 4,000,000 people employed in higher education.

Politically, I don’t expect that to happen. Colleges are big business with a lot of money and influence in Congress. Further, a college education is becoming viewed as a right that should be free. In the meantime, savvy students will do whatever they can to minimize their college tuition and graduate debt-free.

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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.

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.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

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On Emerging Physician Professional Issues

A Growing Concern

[By 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.

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.

HOSPITALS:

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

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

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WHAT CAN A Certified Financial Planner® REALLY DO FOR YOU?

That a NON-CFP® Certificant … CAN-NOT?

[By Dr. David Edward Marcinko MBA CMP®]

http://www.CertifiedMedicalPlanner.org

OK – I was a Certified Financial Planner® before my academic team launched the Certified Medical Planner™ online and on-ground chartered education and board certification designation program a few years ago. I am now reformed and in remission.

MORE: Enter CPMs

Enter the Certified Medical PlannerChartered Designation

Today, we are gratified that Certified Medical Planner™ mark notoriety is growing organically in the healthcare, as well as financial services, industry.

In fact, even uber-blogger Mike Kitces MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL has taken note of us in his musings on the Nerd’s Eye View website.

And, the reality is that there are a growing number of CFP educational programs at the post-CFP niche market level. But, none for healthcare industrial complex: for doctors … by doctors!

CMP

QUERY

Nevertheless, I was a bit flummoxed when a physician college recently asked me this simple question:

Q: What can a CFP® mark holder do for me that a non-CFP® certificant can not?

Assessment

Now, much like a good interrogating attorney, I think I already know the answer to this question. Nevertheless, it is important to determine and understand what our ME-P readers believe; and why they believe it!

MORE: Enter CPMs

So, please opine and tell us what you think.

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.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

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

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HOSPITALS:

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

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

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ADULT LEARNERS AND STUDENTS:

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Dr. Dave Marcinko at YOUR Service in 2020

Join Our Mailing List

Book Marcinko for your next Seminar, Meeting or Medical Business Event 

By Ann Miller RN MHA

Professor and physician executive David Edward Marcinko MBBS DPM MBA MEd BSc CMP® is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; Oglethorpe University, and Atlanta Hospital & Medical Center in GA; and the Aachen City University Hospital, Koln-Germany. He is one of the most innovative global thought leaders in health care business and entrepreneurship today.

Dr. Marcinko is a multi-degreed educator, board certified physician, surgical fellow, hospital medical staff President, Chief Education Officer and philanthropist with more than 400 published papers; 5,150 op-ed pieces and over 125+ international presentations to his credit; including the top 10 biggest pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].

Dr. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner®, who was named “Health Economist of the Year” in 2001. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, management and trade publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News].

As a licensed insurance agent, RIA and SEC registered endowment fund manager, Dr. Marcinko is Founding Dean of the fiduciary focused CERTIFIED MEDICAL PLANNER® chartered designation education program; as well as Chief Editor of the HEALTH DICTIONARY SERIES® Wiki Project. His professional memberships include: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA and HIMSS.

Dr. Marcinko is a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.

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What are Your Debt Struggles?

Causes and Reasons

[By staff reporters]

A valid post Black Friday and Cyber Monday Concern!

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Assessment

Your thoughts are appreciated. How and Why do you struggle with debt?

MORE BUSINESS AND INVESTING FOR DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

THANK YOU

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™

Is Geisinger ‘The Most Progressive Health System on the Planet’

 Geisinger: ‘The Most Progressive Health System on the Planet’

By MedScape

Geisinger Health System offers free genetic screenings and money-back guarantees to all of its patients, not to mention free rides and healthy food for those who need them.

CEO David Feinberg tells Eric Topol MD how it all works.

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https://www.medscape.com/viewarticle/902769?src=WNL_topolexclsv_181012_MSCPEDIT&uac=193200AX&impID=1767051&faf=1

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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.

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.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

HOSPITALS:

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

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

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The Difference Among Pedagogy, Andragogy and Heutagogy

ON EDUCATION – The Difference Among Pedagogy, Andragogy, And Heutagogy

[By Terry Heick]

Jackie Gerstein’s passionate thinking about learning is some of my favorite to read. She is rarely pulled down by trend or fad, but is unquestionably progressive and forward-thinking in her approaches to learning and thinking about learning.

She and I also share a passion: self-directed learning. (As does the original summarizer/author of the thinking embedded in table below, Lindy, McKeown Orwin).

I’m embarrassingly interested in any kind of learning at all–formal or informal, self-directed or teacher-centered, authentic or academic. Doesn’t mean I regard them all equally, but I do see a role for almost any system or approach that can cause, support, or glorify the processes of understanding.

Gerstein’s presentation, “Education 3.0 and the Pedagogy of Mobile Learning” uses the concept of mobile learning as a spearhead into a broader discussion of how people learn–different approaches, different domains, and different technologies.

We recently shared some thinking about what “Education 3.0” might mean as well, and are nauseatingly effusive in our praise of self-directed learning (And a primer on self-directed learning here as well.)

Assessment

With the progress of technology and the rise in mobile learning, now more than ever Self-Directed Learning–or Heutagogy–isn’t just possible, but natural, and almost awkward to not use, something Gerstein capture’s thoroughly and with her characteristic passion in the presentation below.

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[click image to enlarge]

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MORE: http://etale.org/main/2013/04/23/a-primer-on-three-gogies-pedagogy-heutagogy-andragogy/

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.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

HOSPITALS:

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

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

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Product DetailsProduct Details

 

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

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Congratulations! Your Study Went Nowhere.

 By Aaron E. Carroll

Congratulations. Your Study Went Nowhere

Researchers should embrace negative results instead of accentuating the positive, which is one of several biases that can lead to bad science.

MORE: https://bohatala.com/parts-of-a-research-paper/

Assessment

Your thoughts are appreciated.

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MORE FOR DOCTORS:

“Insurance & Risk Management Strategies for MDs”  https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians”  https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

THANK YOU

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MOOCs & MOODLES – Are You An Educational Futurist?

On Massive Open Online Courses

By Dr. David Edward Marcinko MBA

Courtesy: www.CertifiedMedicalPlanner.org

Today, colleges and universities are beginning to identify students who are adept at learning online and reward top achievers and professors. Employers, graduate and business schools are beginning to troll MOOCs [massive open online courses] seeking viable job, and academic, candidates.

Definition

A massive open online course ( MOOC / m uː k / ) is an online course aimed at unlimited participation and open access via the web.  In addition to traditional course materials such as filmed lectures, readings, and problem sets , many MOOCs provide interactive courses with user forums to support community interactions among students, professors, and teaching assistants (TAs) as well as immediate feedback to quick quizzes and assignments.

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

Update

In fact, when I last checked, the nation’s graduate, B-school and MBA students were enrolled in more than 118 online MBA/MPH/MSH healthcare administration programs. MOOCs offer greater access for a larger number of students, at significantly lower costs than on-site programs.

By the same token, technology like Blackboard®, Cengage, eXplorance, BANNER and Kalture must be used to full potential. Smart phones, PCs and tablets, videos, interactive games, A.I. simulators and apps with Skype®-like virtual classrooms and cloud storage are obvious embellishments to online initiatives.

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Definition

A Moodle is a free and open-source learning management system written in PHP and distributed under the GNU General Public License. Developed on pedagogical principles, Moodle is used for blended learning, distance education, flipped classroom and other e-learning projects in schools, universities, workplaces and other sectors.

Note: PHP is a popular general-purpose scripting language that is especially suited to web development. Fast, flexible and pragmatic, PHP powers everything from your blog to the most popular websites in the world.

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

ASSESSMENT: Your thoughts are appreciated. Are you a didactic educational futurist? MOOCs or MOODLES anyone?

MORE BUSINESS, EDUCATION AND FINANC FOR DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

THANK YOU

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Invite Dr. Marcinko

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Nursing Career Goals by Age

A Survey

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.

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.

MORE FOR DOCTORS AND NURES:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

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

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

***

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About Dr. David Edward Marcinko MBA CMP™

At Your Service

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DEM blue

Chief Executive / Education Officer * Speaker * Author * Researcher and Professor of Health Economics, Finance & Policy Management 

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http://www.DavidEdwardMarcinko.com

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

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Understanding the ME-P Knowledge Based Ranking Service

Join Our Mailing List

About Our Professional User-Generated Ratings Interface

From the Contributing Editors

How We Work

The Medical Executive-Post is a professional ranking and educational rating system for the integrated industries, readers and contributors we serve.

We function as an open social utility that allows readers and users to submit and collectively evaluate the quality of blog posts, opinions and essays on any of more than 50 specific topics and related subject matters of collective interest.

Understanding Knowledge Based Ranking Services

Assessment

Conclusion

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

Our Other Print Books and Related Information Sources:

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

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

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

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

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

Physician Advisors: www.CertifiedMedicalPlanner.org

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What is the 70-20-10 Leadership Model?

Developing Leadership Ability

[By Dr. David Edward Marcinko MBA MEd]

We have written about leadership and management before on this ME-P. It is an important and very popular topic; not only in healthcare but in most all industries today.

According to the Center for Creative Leadership there is a model for learning and development that blends experience, relationships and training.

It is referred to as the 70-20-10 model, where approximately:

  • 70% of learning is provided through the use of challenging assignments and on-the-job experiences.
  • 20% of learning is developed through relationships, networks, and feedback.
  • 10% of the learning is delivered via formal training processes.

So, does your medical office, clinic, hospital or healthcare organization put most of its leadership development resources into training?

Is this akin to the medical teaching adage: “See one – Do one – Teach One“?

Assessment

Sometimes it’s easier to purchase external vendor training rather than develop the internal infrastructure to support business succession planning with stretch and / or rotational assignments, coaching, mentoring, and action learning.  The weaker this internal support infrastructure, the more important the formal training will be, but it can’t be a close substitute for the lessons learned on the job and through feedback from peers, bosses and mentors.

Conclusion

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

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Dr. Marcinko Interviewed on the Physician Credit Crunch

Financial Experts Share Tips on Obtaining Loans to Start or Expand a Medical Practice

By Michael Gibbons

Editor: ADVANCE Newsmagazines

Maybe you’re a young dermatologist or plastic surgeon who dreams of starting your own practice. Or maybe you’re an established professional but want to expand your palette of anti-aging services. Either way, you’ve probably made an unpleasant discovery: Banks are leery about lending today. Global recessions with seemingly no end in sight tend to give loan officers sticky fingers.HO-JFMS-CD-ROM

Dermatologists and Plastic Surgeons

We have it on good authority that dermatologists and plastic surgeons as a group are less affected by this problem than physicians in some other branches of medicine. Still, there’s no better time than now to absorb some sound advice on how to approach banks for loans—whether you’re a fresh-faced newcomer to the fresh-face business or a wrinkled veteran at eliminating wrinkles.

Start Small

There’s no soft-soaping it: Starting a healthy aging practice is much harder than expanding an existing practice, even in the flushest of times.

“For young dermatologists starting out, I recommend you start small,” advises Jerome Potozkin, MD, who offers facial rejuvenation, liposuction, body contouring and dermatological care through his practice in Walnut Creek, CA. “You can always expand. Keep your overhead low. Know what your credit score is and do everything you can to improve it. Pay your bills on time.”

Lasers aren’t cheap. Besides the initial acquisition costs, a service contract can cost $7,000 to $12,000 a year, according to Dr. Potozkin. “Don’t feel you have to buy every new laser under the sun,” he says. “In fact, renting rather than purchasing is an option many companies offer. When your volume is low you can rent and schedule laser days—although the pitfall there is you don’t have lasers available whenever patients come in.”

Also, young dermatologists “will probably have an easier time getting a loan if they go to a relatively underserved area, as opposed to an area that has a large number of dermatologists per capita,” says Dr. Potozkin, who began practicing 10 years ago. “There are two schools of thought on this: Go where you want to live to start a practice or go to where there’s a need and be instantly successful. I chose the former. It took me longer to get started but I’m very happy where I am.”

Patience, Prudence and Passiondem2

Be patient, prudent, passionate—and start with a spare office and as little debt as possible, advises Dr. David E. Marcinko MBA, a financial advisor and Certified Medical Planner™. Marcinko, a health economist,  is CEO of the Institute of Medical Business Advisors Inc., a national physician and medical practice consulting firm based in Norcross, GA www.MedicalBusinessAdvisors.com

“Patients are looking for passion from you, not lavish trappings,” Dr. Marcinko says. “When a banker or a loan officer sees $175,000 or more of debt they are loath to give a loan—and it’s hard to blame them. Purchase a home after you become a private practitioner. You need to be as close to debt-free as you can be.

Exit Strategy

“Another thing bankers want to know is, ‘If we give you a loan and you start a practice and it fails, how will we be paid back?’ They want an exit strategy.”

The good news is dermatology “remains a very lucrative specialty, and in most parts of the country they are in a shortage position, particularly with the aging population,” says Sandra McGraw, JD, MBA, principal and CEO of the Health Care Group, a financial and legal consulting firm based in Plymouth Meeting, PA., that advises the American Academy of Dermatology, among other groups.

“I would start with a realistic business plan for why you think this practice can succeed, in the specific location,” McGraw says. “How many patients do you expect to see? How will they know you are there and available? Remember that banks lend to all kinds of people, so keep your numbers realistic. Overestimating expenses is as bad as underestimating them. Then determine how you want the money—usually a fixed loan for a period of time and then a line of credit as you get your practice going and sometimes need the cash flow.”biz-book

Expanding a Practice

Established dermatologists should have an easier time getting loans to expand their practices. They have, one hopes, a track record of success and assets to put up as collateral.

Mid-career physicians “have cash flow, physician assets and equity to some degree in a house and personal assets,” Dr. Marcinko observes. “Banks can attach loans to personal assets and savings accounts. Ninety-nine percent of times you must sign a personal asset guarantee. Mid-lifers have assets young ones don’t, so mid-lifers aren’t quite the risk. They have businesses that have value and cash flow. Banks like cash flow.”

However, even veterans must do some homework before approaching a bank. “You still want to establish why you want the money and how the expansion will increase your income,” McGraw says.

Another tip: If the bank has loans out with reputable vendors, you might ask the loan officer to recommend them to you as potential contractors. “Sometimes keeping it local and supporting others with loans at the bank can be helpful,” she says.

Assessment

Dr. Marcinko adds, “Bankers today want you to come in with a well-reasoned, well-thought-out and well-written business plan. Give bankers a 30-second elevator speech on why you are different. It’s really important to ask yourself, ‘What can I offer the community as a doctor in my specialty that nobody else can?’ If you bill yourself as the first dermatologist to do laser surgery, that’s a perceived advantage. You purchased the equipment and learned to use it. But anyone can do that. If you can come up with something that nobody else has or can do, that’s how you’re successful in anything.”

Link: Dr. Marcinko Interview

Link: https://healthcarefinancials.files.wordpress.com/2009/08/dr-marcinko-interview.pdf

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. Tell us what you think. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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

Sponsors Welcomed

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

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

Celebrating National Doctors’ Day 2018

History of National Doctors’ Day

By Dr. David E. Marcinko MBA CMP™

http://www.CertifiedMedicalPlanner.org

National Doctors’ Day is held every year on March 30th – April 1st –  in the United States. It is a day to celebrate the contribution of physicians who serve our country by caring for its’ citizens.

The first Doctor’s Day observance was March 30, 1933 in Winder, Georgia.  Eudora Brown Almond, wife of Dr. Charles B. Almond, decided to set aside a day to honor physicians. This first observance included the mailing greeting cards and placing flowers on graves of deceased doctors.

  • On March 30, 1958, a Resolution Commemorating Doctors’ Day was adopted by the United States House of Representatives.
  • In 1990, legislation was introduced in the House and Senate to establish a national Doctor’s Day.

Following overwhelming approval by the United States Senate and the House of Representatives, on October 30, 1990, President George Bush signed S.J. RES. #366 (which became Public Law 101-473) designating March 30th as “National Doctor’s Day.”

Book Marcinko

Ambulance DEM

ME-P Publisher Emeritus Out in the Field – Marquette, MI

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Happy World Oral Health Day

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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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dental

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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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“Healthcare Finance News” interviews Dr. DE Marcinko [ME-P Editor-in-Chief]

Join Our Mailing List 

Key strategies for hospital pension fund managers

Professor Hope Hetico

By Hope R. Hetico RN MHA

[Managing Editor]

Recently, Mr. John Andrews, Contributing Editor of the well known industry publication Healthcare Finance News in Chicago, caught up with our Publisher and Editor-in-Chief … Dave Marcinko.

He was asked the following questions which focused on best industry practices and looked at the overall pension situation for hospitals and health systems in the US.

Questions:

  • How prevalent are pensions for hospital workers and how does it compare to the economy at large?
  • Are more hospitals going to a 401(k) benefit system?
  • Is there someone within hospital HR managing the pension funds or do they typically contract with outside firms?
  • What are the key tenets to investing for a hospital pension fund? How much risk should be assumed compared to more conservative investments? How do you strike a balance between growth and capital preservation?
  • In general, how well do hospitals understand their fiduciary responsibilities? How involved should the Board of Directors be in the process?
  • Do you recommend a defined contribution and defined benefit plan? What are the pros and cons of each?
  • Are there certain industries that are more attractive than others for investment? Is it kosher for a healthcare pension fund to invest in healthcare-related interests?
  • and much more!

Assessment

Of course, any interview with David is a free-for-all with topics and discussions all over the place; so enjoy the [electronic] show.

Health 2.0 hospital

INTERVIEW

Pension funds linger, even make comeback, among healthcare providers

“While not as prevalent as they once were, healthcare pension plans still represent a significant fiduciary obligation” – Dr. DE Marcinko, iMBA Inc., Atlanta, GA

Healthcare Finance News

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It is part of what healthcare economist Dr. David Marcinko MBA calls “a sea change that has occurred over the past decade” in terms of pension displacement.

NOTE: This inteview was prompted by the release of our newest textbook: COMPREHENSIVE FINANCIAL PLANNING STRATEGIES FOR DOCTORS AND ADVISORS [Best Practices from Leading Consultants and Certified Medical Planners™].

Enter the CMPs

http://www.CertifiedMedicalPlanner.org

It is the only multi-contributor major text that was written by doctors; for doctors and about doctors from a peer-reviewed and fiduciary perspective. It is already redacted in medical school libraries throughout the country.

Front Matter with Foreword by Jason Dyken MD MBA

logos

“BY DOCTORS – FOR DOCTORS – PEER REVIEWED – FIDUCIARY FOCUSED”

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

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

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

 

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Source: pronto.com

Conclusion

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Seeking University Faculty Appointment in 2018

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Endowed Scholar-on-Sabbatical

dem

By David Edward Marcinko MBBS DPM MBA MEd CMP™ 

Any New Year typically brings to mind the passage of Father Time. And, it’s hard to believe I will be finishing up my current endowed R&D sabbatical after the Spring semester.

It means searching for a new faculty appointment to continue my passion for: [1] classroom teaching and junior faculty mentorship [2], university PR, outreach, promotion and grant-funding; and of course [3] more research, development, books and publications.

This competitive scholarship ethos is AKA the triad of success: “being a guide on the side – not a sage on the stage” AND “no margin – no mission” AND “publish or perish.

Employment and Subject Matter Expertise

Now, as a consummate team player, I’ve served as adjunct, to visiting, to full distinguished professor – and as department chair, to endowed chairman, online MOOC Dean and professor-of-the-practice.  Areas of specialization include: public and population health policy, management and administration; health economics, finance and insurance; and medical capitalism, innovation and free-enterprise at the graduate or doctoral levels.

And, as a former surgeon and clinician who also trained in Europe, and devotee of Nobel Laureate Ken Arrow PhD, I’m a global inter-disciplinarian within the health care industrial complex that may soon comprise 20% of domestic GDP.

Location – Location – Location

I’m pretty much private or public [mid-size] school agnostic, but prefer the Southeast, Northeast and Midwest in a livable city; with a 9-10 month faculty appointment.

But, I wouldn’t rule out a 12-month business school, or public health sciences type Dean position, as long as it is not totally administrative. A founding department chair, or inaugural deanship, would be near perfect; 24/7/365.

Crowd-Sourcing a Job?

So, I am crowd-sourcing this new job search as an emerging trend. Moreover, crowd-funding health insurance, and crowd-sourcing medical and diagnostic care is an emerging HIT trend. In fact, it’s the R&D equivalent of my current Health Dictionary Series™ WIKI project. It’s an experiment!

Regardless of the job search, check it out and tell me what you think!

http://www.HealthDictionarySeries.org

Assessment

Finally, please know that I am not looking for a mere job or to climb the ladder of academia. Rather, I am seeking a university home to continue my passionate career by paying it forward as servant-leader for the next generation of business and/or public health care executives.

More Info:

If you think I might be a good fit for your university, or would just like to brainstorm ideas; give me a holler: phone: 770-448-0769; or mail: MarcinkoAdvisors@msn.com; or arrange a virtual Skype interview to “chat”. Grab yourself a cup of coffee, because I am verbose.

Serious inquirers might also want to check me out, in far-too-much-detail, here!

http://www.DavidEdwardMarcinko.com

professor-dem

Thank you for the opportunity

More on Physician Burn-Out

And … Depression

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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.

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

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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™

More on Medical Practice Business Costs

Unknown and Under-Appreciated by Many

By Rick Kahler CFP®

I recently talked with an administrator of a private medical practice about some of the financial challenges she faces in dealing with the medical system, insurers, and patients.

Some of the insights she gave me into the realities that private physicians face in providing medical care were rather disturbing.

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Here are a few of them.

Let’s start with the insurers who account for the bulk of their revenue. Many payments for procedures from insurance companies (including Medicare) are below the cost of providing the service. This forces physicians to make up the difference on other procedures or find other sources of income to sustain the profitability of the practice.

Conversely, in markets that have just one hospital, the insurance companies have no leverage. If the insurers won’t pay what the hospitals demand, the hospitals can threaten to drop out of the network, leaving the insurers with nowhere to send their insureds in those markets. The insurers end up agreeing to pay the hospitals more.

Charges for services provided in-house at the hospital can end up being substantially higher than those same services done by outside providers.

Example:

She gave me an example of a lab test that cost $1,500 to $2,000 at the hospital lab but $35 to $80 at an independent lab. Patients do have the option to direct the hospital to use an independent lab. But, how many people know that and will have the presence of mind to make the request? While it makes financial sense to price-shop if you have a high deductible HSA plan, there isn’t much incentive if your plan has low deductibles.

Collections

Another challenge is collecting from patients. She says a surprising percentage of Americans maintain checking accounts with no money or keep checks from accounts which have long been closed. While writing bad checks is a crime, those who game the system know they can probably get by with writing a low-dollar check because the cost of pursuing justice is much more than the check is worth.

Most companies would never do business with such a person again. Healthcare professionals tend to have a bias toward giving everyone services, so these same people do return requesting care. She said she and her physician employer have had huge internal arguments about this. Her position is that these people take advantage of the physician in a premeditated fashion and don’t deserve to be extended services. The physician argues that everyone, even deadbeats, deserves healthcare. Since the practice doesn’t provide life-and-death services, she was able to get the physician to agree that if someone has an outstanding bill they need to settle it upfront, in cash, before any new services are provided.

Then there are those who use credit cards and then fraudulently dispute the charges. Some providers let this go because of the difficulty of proving that the charge is legitimate. It requires photographs of customers during the transaction, copies of driver’s licenses, customers’ signatures on the paperwork, and notarized statements from the provider verifying that this was the person who received services and presented the credit card.

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http://www.CertifiedMedicalPlanner.org

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SSNs

A final interesting point concerned patients’ Social Security numbers. She said the only time these are ever needed is when an outstanding bill is sent for collection. Otherwise, they are never accessed or used.

Assessment

Finally, she was quick to add that only a small fraction of their patients premeditate stealing from them. She also stressed that not all insurance companies or hospitals behave unethically, and some do wonderful, humane acts of kindness. Nevertheless, the lack of integrity that does occur on both sides is infuriating and adds to the cost of health services.

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

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

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ON STATE MEDICAL BOARDS

A Brief History

By Eric A. Dover MD

The first medical board was established in Connecticut in 1792 by the state legislature. It consisted of a group of physicians who evaluated the competency of physicians wishing to practice in the State. Medical Boards eventually evolved and became very powerful with the addition of Medical Practice Acts containing a plethora of administrative rules. The Medical Boards stated mission was, and still is, the protection, health and safety of the public. State Boards formed a national group, the Federation of State Medical Boards (FSMB), in 1912. The FSMB was the first institution to publically list names of disciplined physicians in a monthly bulletin.

In the 1980’s and 1990’s there were a number of high profile cases involving physicians and public safety. One such case, international in scope, concerned surgeon Dr. Jayant Patel. Significant news coverage regarding his surgical outcomes and knowledge resulted in the heightened questioning of Medical Boards and whether they were actually fulfilling their mission of protecting public health and safety. The Oregon Medical Board (OMB) was scrutinized for allegedly “ignoring” 79 complaints, and at least three deaths, attributed to Dr. Patel’s surgical care from 1989 to 1998. The OMB abdicated all responsibility for the situation with a myriad of excuses for why they had no control over this physician or the HMO he worked for.

OMB

The OMB then came to the state legislature with a “fix” to supposedly prevent any further such incidents. The OMB advocated for greater authority over physicians and greater independence from government oversight. With the din of the press and public, the Oregon Legislature gladly granted the OMB their wish. Other states followed Oregon’s example. Not a single individual associated with the OMB, whether administrative or board member was investigated in any meaningful way for their horrendous dereliction of duty. Not one of them had their license restricted, suspended or revoked for such serious offenses. None of them were ordered to pay out of pocket to go to “programs” for competency evaluations, psychological examinations or “courses” to help them become better board members. No one resigned, nor was anyone dismissed, from their position of power. The OMB’s inaction led to a number of deaths and numerous patients with chronic post-surgical medical disorders, yet all individuals involved with the OMB were protected from malpractice lawsuits

Case examples

With cases such as Dr. Patel’s featured prominently in the mainstream media, Medical Boards nationwide came under intense public pressure and scrutiny as it became clear they were not fulfilling their mission of protecting the public’s health and safety. The public saw physicians as a privileged class, protected by their colleagues and Medical Boards. They were correct to a degree. Public safety groups like Public Citizen, who had been taking Medical Boards, hospitals and large clinics to task for years regarding what they felt was a lack of physician oversight and discipline, began ranking state medical boards based on how many disciplinary actions they handed out each year. In their 2011 report, Public Citizen’s Health Research Group Ranking of the Rate of State Medical Boards’ Serious Disciplinary Actions, 2009-2011, the authors made the erroneous assumption that the greater the number of physician “disciplines” (actions) per 1000 physicians, the better job that State’s Medical Board was doing. Therefore, at 6.79 actions per 1000 physicians, Wyoming was doing the “best” job and at 1.33 actions per 1000 physicians, South Carolina was doing the “worst” job.

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

Medical boards vary state -2- state 

Medical Boards vary remarkably from state to state. There are only two constants among them. First, each state has a Medical Board. Second, the Board makes all final decisions concerning licensees. Otherwise, there’s no consistency when it comes to what’s sandwiched in between. The Medical Board’s authority is grounded in the States Medical Practice Act, which gives them the authority to enforce laws for licensing, monitoring and disciplining physicians in the state. Every state has its own unique laws and processes, but every medical practice act covers the basics regarding oversight of physicians practicing medicine in the State.

Assessment

The U.S. Federation of State Medical Boards (FSMB) periodically issues guidelines on the essential elements of a medical practice act.

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

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

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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™

Understanding the Physician-Entrepreneur’s Personality

13 Vital Questions for all Doctors to Consider

By Dr. David Edward Marcinko MBA, CMP™

[Editor-in-Chief]

www.BusinessofMedicalPractice.com

There is no way to eliminate all the risks associated with starting a medical practice, or launching any innovative concept in the health 2.0 ecosystem. However, entrepreneurial focused doctors can improve their chance of success with good planning and preparation. So, prior to starting your practice, merging, franchising or purchasing an existing one, ask yourself the following sobering questions. Hopefully, such reflection will enhance success, or at least prevent an unmitigated catastrophe. (www.sba.gov)

The Questions to Consider

1. Is medical practice ownership and physician entrepreneurship right for you?

It will be up to you, and your consultants; not someone else telling you to develop projects, organize your time or follow through on details. Your must be self motivated.

2. Do you like people and get along with different personality types?

Practice owners need to develop working relationships with a variety of people including patients, customers, vendors, staff, other physicians, and professionals like lawyers, accountants, consultants and bankers. Can you deal with a demanding patient, an unreliable vendor or cranky staff person in the best interest of your practice?

3. Can you make decisions and leave with ambiguity?

Practice owners are required to make independent decisions constantly; often quickly, under pressure and without all the facts. Ambiguity is a constant.

4. Do you have the physical and emotional stamina?

Practice ownership can be challenging, fun and exciting. But it’s also a lot of work. As a physician-owner, can you face twelve hour work days? As a doctor, can you offer advice, service, care and moral support 24/7?

5. How long can you live on your current savings?

Most small medical practice startups induce a declining bank balance in the early going. So, it’s wise to look at your expenses and determine how long you can live on your savings, and what personal costs you can temporarily eliminate. Emotionally, it’s easier to tighten expenses when you’re contemplating a new practice, than it is to cut back after you’ve started.  Financial consultants and accountants that perform consolidated financial statement preparation and analysis are vital in this regard. A two to five year margin of safety is not unusual and may be needed

6. How deeply in debt can you go?

Medical practice business debt can be good. It can fund expansion, improve profit ratios and cash flow. For physician entrepreneurs, business debt is often personal debt. Many start a practice by deferring payments for their own labor. Although lenders may make loans to a practice, the physician-owner will often be required to personally guarantee the loan. So, although the debt is on the business’s books, is ultimately the doctors’ debt should the practice fail.

7. What about health insurance?

If your current residency, fellowship or job offers health insurance, and is subject to the Consolidated Omnibus Budget Reconciliation Act (COBRA), you might be able to keep your coverage by paying the premiums, plus another 2% for administrative costs. You may keep your coverage under COBRA for up to 18 months and is a useful stopgap. For example, pay the premiums for six months or until another health insurance plan is obtained. Others suggestions are working spouse coverage with family benefits, or an HMO; or Medical or Health Savings Account (HSA/MSA).

8. Can you line up credit in advance?

Some new practice owners may set up a home equity line of credit that will let them borrow money at 1-2 percentage points over the prime rate or less. Lenders are more willing to make loans to someone who has a steady paycheck than to a new practice entrepreneur. If you have an excellent credit rating, you can probably get a home equity or other secured loan, but with more paperwork than in the recent past. Once you’re a self-employed practice owner, you’ll probably have to provide your most recent tax returns before getting approval. But, today, the biggest obstacle to a practice loan is a home mortgage. Domestic credit has been very tight since 2007, even for physicians.

9. What if you can’t manage the practice?

Disability insurance, unlike health insurance, usually cannot be transferred to an individual policy when you leave your job to start a new venture. So, get your own disability policy while you are still employed. Once you have the policy established and are paying the premiums, you should be able to keep the policy when you go out on your own. Remember, benefits received on a policy paid by you are free of federal income tax. Benefits on a policy paid for by a previous employer were taxable.

10. How well do you plan and organize?

Research indicates that many medical practice failures could have been avoided through better planning. Good organization of financials, inventory, schedules, information technology, medical services and human resources can help avoid many pitfalls.

11. Is your determination and drive strong enough to maintain your motivation?

Running a practice can wear you down. Some doctor-owners feel burned out by having to carry all the responsibility on their shoulders. Strong motivation can make the practice succeed and will help you survive slowdowns as well as periods of burnout.

12. How will the practice affect your family?

The first few years of practice startup can be hard on family life. The strain of an unsupportive spouse may be hard to balance against the demands of starting a medical business. There also may be financial difficulties until the business becomes profitable, which could take years. You may have to adjust to a lower standard of living or put family assets at risk.

13. How do you feel about the Patient Protection and Affordable Care Act of 2010?

Most provisions of the PPACA take effect over the next four to eight years, including expanding Medicaid eligibility, subsidizing insurance premiums, providing incentives for businesses to provide health care benefits, prohibiting denial of coverage/claims based on pre-existing conditions, establishing health insurance exchanges, and support for medical research. The expense of these provisions are offset by a variety of taxes, fees, and cost-saving measures, such as new Medicare taxes for high-income brackets, cuts to the Medicare Advantage program in favor of traditional Medicare, and fees on medical devices and pharmaceutical companies. There is also a tax penalty for citizens who do not obtain health insurance. Decreased physician reimbursement is a component, as well.

Assessment

More info: www.BusinessofMedicalPractice.com

Are you a medical innovator or healthcare entrepreneur? I am available for queries – thanks again for your interest.

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CONSENSUAL AMOROUS RELATIONSHIPS IN MEDICINE?

NON-CONSENSUAL AMOROUS RELATIONSHIPS DEFINED

By Vicki L. Buba JD

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

By Dr. David Edward Marcinko MBA CMP™

http://www.CertifiedMedicalPlanner.org

An “Amorous Relationship” is defined as a consensual romantic, sexual or dating relationship. This definition excludes marital unions. The term also encompasses those relationships in which amorous or romantic feelings exist without physical intimacy and which, when acted upon by the faculty or staff member, exceed the reasonable boundaries of what a person of ordinary sensibilities would believe to be a collegial or professional relationship. The faculty/student and supervisor/employee relationship should not be jeopardized by question of favoritism or fairness in professional judgment.

Furthermore, whether the consent by a student or employee in such relationship is indeed voluntary is suspect due to the imbalance of power and authority between the parties. All members of the healthcare entity should be aware that initial consent to a romantic relationship does not preclude the potential for charges of conflict of interest, or for charges of sexual harassment arising from the conflict of interest, particularly when students and employees not involved in the relationship claim they have been disadvantaged by the relationship. A faculty, staff member or graduate assistant who enters into an “Amorous Relationship” with a student under his or her supervision, or a supervisor who enters into an “Amorous Relationship” with an employee under his or her supervision, must realize that if a charge of sexual harassment is subsequently lodged, it will be exceedingly difficult to prove blamelessness on grounds of mutual consent. This policy is superseded by the laws governing inability to consent based on age.

HANDLING ROMANTIC PATIENT ADVANCES

While physicians vary in their approaches to managing flirtatious patients, many agree that nipping the behavior in the bud is critical to maintaining professionalism and upholding ethical standards. “It’s flattering to have a flirtatious patient,” said Dr. William P. Scherer MS, Professor of Radiology at the Barry University School of Medicine, Boca Raton, Florida. “But, we have an obligation to protect the integrity of our medical profession, and to our marital contracts and spousal relationships and family, and to act professionally at all times” [personal communication].

Dr. Scherer finds it helpful to put some professional distance between himself and a flirtatious patient. “I have no problem saying to a patient: I appreciate what interests you may have, but I have to draw the line to take proper professional care of you, instead.”

And a good way to derails flirtatious behavior from patients is by deflecting their unwelcome comments. “And, you can’t act sheepish about it.” When a patient’s remark crosses the line from complimentary to something uncomfortable, the doctor may either curtly laugh it off or ignore it. “I don’t acknowledge the statement and immediately move the conversation into something clinical in order to put the rest of the visit in a serious tone.”

On the other hand, Dr. Barbara S. Schlefman MS, a fitness trainer and retired podiatrist, instructed her nurses to have another staffer accompany them into an examination room when a patient is known for being flirtatious was waiting to be seen; and to leave the door open [personal communication].

Likewise, other physicians use a “more is merrier” approach for themselves and their staff as a defense against flirtatious behavior. This is a problem that can be avoided by having physicians never see patients alone. So, as Dr. Schlefman advised, be sure to always a nurse or medical assistant in the room with the physician, even if you have to see somebody in the office on call after hours. And, be sure to have a call schedule for the nursing and medical assistant staff that includes patients of both genders, regardless of physician gender, since flirtatious behavior can be same-sex flirtatious behavior. Fortunately, adjunct or visiting clinical professors, or doctors on a medical school clinical teaching staff, rarely have patient encounters without a medical student, intern, resident fellow or nurse in the room during examinations.

Recognize the Signs

While it’s important that physicians don’t act on a flirtatious patient’s advances, it’s equally critical to recognize subtle flirtatious signs from a patient; according to Donna Petrozzello MD, an otolaryngologist at the California Sinus Centers.

A patient that maintains unusually long eye contact with their doctor, or engages in talk not related to their visit, or makes a habit of touching the physicians when not medically necessary may be flirting. Additionally, doctors can protect themselves when performing some common procedures that put the physician in close proximity to a patient’s face, breasts, genitals, legs and even feet. That closeness could turn a clinical exam into a flirtatious event. Wearing a mask to perform each of these local or regional examinations is not only for the purposes of infection control but gives the added benefit of establishing some personal space and protection, to avoid any potential misunderstanding. For example, auscultating lungs through a shirt, not underneath, is a good idea with this type of exam on a young woman patient.

[Two icons of romantic relationships]

Continue reading

An Investor’s Guide to Better Writing

An Investor’s Guide to Better Writing — Seriously

By Vitaliy Katsenelson CFA / Institutional Investor Magazine

Conclusion

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Backward Market Business Research

Experimenting in Business

By Dan Ariely PhD

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 Part of the CAH Startup Lab Experimenting in Business Series

By Rachael Meleney and Aline Holzwarth

Missteps in business are costly—they drain time, energy, and money.

Of course, business leaders never start a project with the intention to fail—whether it’s implementing a new program, launching a new technology, or trying a new marketing campaign.

Yet, new…

Beginning at the End — Dan Ariely

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The correlation between income and cognitive abilities as measured by IQ?

Is there a correlation between higher incomes and high cognitive abilities as measured by IQ tests?

By Rick Kahler MS CFP®

“The higher your IQ, the greater the probability you will earn more than average.”

Like many people, I have believed this common money script to be true. It seems to make sense that the smarter you are, the more likely you are to succeed financially. Many of us assume there must be a correlation between higher incomes and high cognitive abilities as measured by IQ tests.

The New Studies

I was surprised, however, to learn that this is not the case. A study published in November 2016 in the Proceedings of the National Academy of Sciences showed that a high level of innate intelligence is no indicator of financial success.

A December 2016 article in Bloomberg cited one of the co-authors of the study, economist James Heckman. When he asks how much of the difference between people’s incomes can be tied to their IQ’s, most people guess between 25% and 50%. The actual number is about one or two percent.

The study found that personality plays a much bigger part than IQ in financial success. The personality trait that was most strongly associated with earning a high income was conscientiousness.

Conscientiousness?

What, then is conscientiousness? One definition from the English Oxford Dictionary is “wishing to do one’s work or duty well and thoroughly.” A conscientious person is described as diligent, dedicated, perseverant, self-disciplined, meticulous, attentive, careful, studious, rigorous, and hard-working.

The article also warned to be careful not to confuse a high IQ with good grades. They are two very different things. It found that grades and the results of achievement tests were better than raw IQ scores at predicting success. Cognitive ability is only one factor in getting good grades. There are several non-cognitive factors that heavily influence grades, such as perseverance, good study habits, and the ability to collaborate. All of these, of course, are qualities of being conscientious.

The study also found that a secondary trait influencing financial success was curiosity. This is one of the nine traits commonly found in people with high emotional intelligence, according to Dr. Travis Bradberry, author of Emotional Intelligence 2.0.

In a November 2016 article titled “9 Habits Of Highly Emotionally Intelligent People”, Bradberry says that emotionally intelligent people are curious about everyone around them. “Curiosity is the product of empathy, one of the most significant gateways to a high EQ.” Bradberry says the more a person cares about other people and what they’re going through, the more curiosity they will have about them.

The bottom line in financial success is that personality counts, a lot.

This is good news for parents of young children. While you can’t do much to influence a child’s IQ, you can influence conscientiousness and curiosity. One way to do this is through direct teaching.

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Direct Teaching

For example: Give them some responsibility for household chores. Provide work spaces and schedules to foster good study habits. Help them explore and learn about things they show interest in. Show them that you appreciate emotional intelligence and relationships. Encourage them to finish what they start, and celebrate and appreciate their successes when they persevere.

To teach financial conscientiousness, encourage kids to save for things they want. Allow them to experience the consequences of financial misjudgments like spending all their allowance the minute they get it. Involve them in family projects like planning and saving for a vacation.

Of course, just as with most behaviors and personality traits we would like our children to develop, the most effective form of teaching is by example. The best way to raise conscientious and curious kids is to let them see us being conscientious and curious ourselves. 

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The “World Happiness Report”

A New HBR Report on Job Satisfaction

By Rick Kahler CFP®

According to a new global survey on work and happiness, a significant number of us aren’t very happy about our workplace. That’s especially unfortunate, since working is how most of us spend the majority of our waking hours.

World Happiness Report

The results of the survey, the World Happiness Report, were summarized in the Harvard Business Review by Jan-Emmanuel De Neve and George Ward on March 20th, 2017. When asked a yes/no question (maybe was not an option) if they were satisfied or dissatisfied with their jobs, most workers around the world said they were satisfied with their jobs. Austria has the highest job satisfaction with 95%, followed closely by Norway and Iceland.

Since I recently visited Iceland, this immediately grabbed my attention. While I acknowledge that my interactions with the workforce of Iceland were limited, I did not get the impression that most were happy. Most seemed to be relatively unhappy. And therein lies the difference: being satisfied with one’s work does not equate to being happy with it.

When asked if they were happy, people’s responses varied greatly depending whether they were blue-collar workers, white-collar workers, or small business owners. About 60% of those who were managers, executives, or professionals (white-collar) reported being happy, while just 45% of those working at more labor-intensive jobs (blue-collar) said they were happy. The number of happy workers was higher—65% to 75%—for workers living in North America, Australia, New Zealand, Western Europe, and Central and Eastern Europe. Regions like South Asia and Africa reported lower happiness levels, from 40% to 55%.

Business Owners

One fact I found especially interesting is that business owners [like doctors] had lower levels of happiness than full-time employees and generally ranked in the middle of the happiness range in most regions. This probably comes as no surprise to a small business owner. My 35 years of experience doing financial planning for business owners finds that many work harder, take greater financial risks, and make less than if they did the same job for a larger company.

Maybe there is an opportunity for a country western song here:

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 “You can take this business and shove it.”

No matter how unhappy you may be working, you would be even unhappier unemployed. De Neve and Ward note that “unemployment is destructive to people’s wellbeing.” Those employed rate their happiness higher in every region in the world. The study also found that repeated incidences of unemployment permanently decreases a person’s happiness, which doesn’t rise to previous levels after they have found a new job.

While most workers are satisfied with their jobs, only about 50% are happy with their jobs. But how happy is happy? The surveyors wondered how many workers were really fulfilled, engaged, and excited about their jobs. To find this out, they asked the respondents if they felt “actively engaged,” “not engaged,” or “actively disengaged.”

The Shocker

Here is the shocker to me: globally less than 20% of workers say they are engaged with their jobs. In Western Europe that number is 10% and in East Asia it’s around 5%. The Caribbean, at 28%, had the highest level of active engagement. About 65% of workers say they are “not engaged” at work, while 15% to 20% of workers are actually “actively disengaged.”

Clearly, the planet has an epidemic of people not being excited to go to work in the morning. Most people are not finding fulfillment, connection, happiness, growth, or challenge in their workplace.Assessment

Assessment

If you are one of them, it may be worthwhile to evaluate your job choices. Since work requires so much of our time, being engaged and happy with it has a significant impact on our well-being.

More: Physician “Burnout” Rates

Conclusion

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On Employee “Burnout”

Prevention is better than cure

[By TrainHR]

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https://trainhrtraining.wordpress.com/2020/01/06/dealing-with-difficult-people/

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MORE: OSHA

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