FIDUCIARY: Obtain an Unbiased 2nd Financial Advisory Opinion

Posted on May 30, 2023 by Dr. Marcinko

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Dr. David Edward Marcinko MBA CMP®

Certified Medical Planner®

SPONSOR: http://www.CertifiedMedicalPlanner.org

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FINANCIAL PLANNING

CAREER DEVELOPMENT

MEDICAL PRACTICE BUY IN / OUT

INVESTMENT ANALYSIS

PORTFOLIO MANAGEMENT

MERGERS AND ACQUISITIONS

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CONTACT: Ann Miller RN MHA

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2nd Opinions

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STUDY: ChatGPT Out Performs Doctors?

Posted on May 30, 2023 by Dr. Marcinko

Answering Patient Messages

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The study on ChatGPT “outperforming” doctors in answering patient questions quickly became the talk of the town. However, as is often the case, it was presented as a prime example of media sensationalism. 

As we encounter more of these partially misinterpreted hypes – and rest assured, there will be many – we’ll need to navigate a sea of questions. Firstly, we must determine what AI can genuinely do better than healthcare professionals. Secondly, we need to consider how to identify unique areas where healthcare workers can assist patients, while AI automates repetitive and data-driven tasks.

READ: https://medcitynews.com/2023/04/chatgpt-ai-healthcare-patient-messaging/?utm_source=The+Medical+Futurist+Newsletter&utm_campaign=98c09c20fb-EMAIL_CAMPAIGN_2022_02_01_COPY_01&utm_medium=email&utm_term=0_efd6a3cd08-98c09c20fb-399696053&mc_cid=98c09c20fb&mc_eid=40fee31c25

I hope you will find our newsletter useful!

Best regards,
Bertalan Meskó, MD, PhD
The Medical Futurist

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DEATH: Eco-Friendly Transitions and Interment

Posted on May 29, 2023 by Dr. Marcinko

By Staff Reporters

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Though it’s not likely to be discussed at a funeral, the popular methods of body disposal—traditional burial or cremation—both pose major environmental hazards. In recent years, natural interment has made a comeback, with promises to protect the planet. But a Dutch inventor created eco-conscious coffins made from mushroom-like structures and hemp that will decompose within 45days of burial.

So, here are eight eco-friendly ways to make your last act on Earth a kind one.

READ: https://www.mentalfloss.com/article/513564/7-eco-friendly-options-your-body-after-death#:~:text=Though%20it%E2%80%99s%20not%20likely%20to%20be%20discussed%20at,your%20last%20act%20on%20Earth%20a%20kind%20one.

RELATED: https://medicalexecutivepost.com/2022/02/24/how-technology-is-streamlining-death/

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WALL $TREET: Memorial Day 2023

Posted on May 29, 2023 by Dr. Marcinko

WALL STREET

By Dr. David Edward Marcinko MBA

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Memorial Day 2023: U.S. exchanges are closed today, May 29th, for Memorial Day

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RE-PODCAST: Financial Implications of Ozempic, Wegovy and Mounjaro

Posted on May 28, 2023 by Dr. Marcinko

By Eric Bricker MD

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Honoring Memorial Day 2023

Posted on May 28, 2023 by Dr. Marcinko

NOT Just a Three Day Weekend

DR Kent Mercado JD

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Memorial day

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Dr. Kent Mercado for Congress

ELECT:  http://www.ElectDrKent.com

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What is Cyber-Security SPOOFING and PHISHING?

Posted on May 26, 2023 by Dr. Marcinko

By Staff Reporters

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Spoofing 

Spoofing is when someone disguises an email address, sender name, phone number, or website URL—often just by changing one letter, symbol, or number—to convince you that you are interacting with a trusted source.

For example, you might receive an email that looks like it’s from your boss, a company you’ve done business with, or even from someone in your family—but it actually isn’t.

Criminals count on being able to manipulate you into believing that these spoofed communications are real, which can lead you to download malicious software, send money, or disclose personal, financial, or other sensitive information.

Phishing 

Phishing schemes often use spoofing techniques to lure you in and get you to take the bait. These scams are designed to trick you into giving information to criminals that they shouldn’t have access to.

In a phishing scam, you might receive an email that appears to be from a legitimate business and is asking you to update or verify your personal information by replying to the email or visiting a website. The web address might look similar to one you’ve used before. The email may be convincing enough to get you to take the action requested.

But once you click on that link, you’re sent to a spoofed website that might look nearly identical to the real thing—like your bank or credit card site—and asked to enter sensitive information like passwords, credit card numbers, banking PINs, etc. These fake websites are used solely to steal your information.

Phishing has evolved and now has several variations that use similar techniques:

  • Vishing scams happen over the phone, voice email, or VoIP (voice over Internet Protocol) calls.
  • Smishing scams happen through SMS (text) messages.
  • Pharming scams happen when malicious code is installed on your computer to redirect you to fake websites.

Spoofing and phishing are key parts of business email compromise scams.

MORE: https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/spoofing-and-phishing

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DR KENT: May is Mental Health Month

Posted on May 26, 2023 by Dr. Marcinko

DR. KENT MERCADO JD

U.S. CONGRESS 11th DISTRICT – ILLINOIS

IMMEDIATE PRESS RELEASE / Policy Statement: Medical Executive-Post

Date Line: May 26, 2023

Contact: http://www.ElectDrKent.com

May is Mental Health Month and we have to be acutely aware of the seen and unseen symptoms of related disorders. We need access to mental health care providers to foster appropriate treatment.  Whether it is post traumatic stress disorder from a non consensual encounter, clinical depression from isolation, or the stress of everyday living, urgent and long term care is needed. Also, normalizing it in terms of the prevalence of mental health issues and ranges in the way mental health needs surface is vital. Trying to help people to not feel alone, or engage in self critical thinking for their own mental health needs is paramount. There is still much stigma around mental health issues. Getting more information is one part of the solution equation – education can help with this change by decreasing one’s internal barriers around seeking care. 

Access to resources and services is another issue with different meanings to those addressed and their situation. There are too many barriers to accessing mental health care services. And, the idea that mental health is an important part of physical health in general, as well as the quality of life, must be accentuated.

TO WHIT:

  • Federal Regulations — The United States healthcare system is guided by programs such as those established under the Centers for Medicare and Medicaid (in the case of county mental health programs, Medicaid is especially important), Americans with Disabilities Act (ADA), Occupational Safety and Health Administration (OSHA), Health Insurance Portability and Accountability Act (HIPAA), and others.
  • State Regulations — These include general legislative guidelines, state management of benefits and reimbursement of the Medicaid program, and state allocations of budgets, which impact the centers’ operations.
  • County Regulations — Each county defines its own County Mental Health Program and decides which services will be provided or excluded.

We need to do our part and recognize the importance of mental health care.

Finally, by way of contemporary breaking news and all accounts, America’s youth are currently experiencing a mental health Social Media crisis. For example:

  • The number of teens and young adults with clinical depression doubled between 2011 and 2021, according to San Diego State University psychology professor Dr. Jean Twenge.
  • In 2021, the CDC found that nearly 25% of teenage girls had made a suicide plan.

So, we must remain vigilant on these, and related mental health emerging issues.

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NOTE: The Illinois’s 11th Congressional District is in the State of Illinois. It includes parts of Cook, DuPage, Kendall, Kane, and Will counties, and covers the southwestern suburbs of Chicago, as well as some rural areas. Regardless of your congressional district, affiliation and/or U.S. state, DR. KENT MERCADO JD is a political centrist and surely a rising new national star.

DR. KENT MERCADO JD

http://www.ElectDrKent.com

DONATE: https://tinyurl.com/yckrppn8

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Pediatric Mental Health Month is Also in May

Posted on May 26, 2023 by Dr. Marcinko

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Even though timely follow-up care for self-harm or mental illness has been shown to prevent hospitalizations, reduce the chances of a repeat visit, and improve overall outcomes, less than a third of children receive follow-up care within seven days of their ED visit, and just over half (56%) receive care within a month, according to a recent study from Ann & Robert H. Lurie Children’s Hospital of Chicago.

More than a quarter of the children in the study returned to the ED within six months.

RELATED: The second-largest psychiatric facility in Washington State is looking to hire more employees after threats that it could lose its accreditation.

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What is a Social Impact Bond?

Posted on May 25, 2023 by Dr. Marcinko

New Financial Product – or Societal Economic Hammer

By Dr. David Edward Marcinko MBA CMP™

At a time when government finances are stretched there is growing interest in finding new ways to fund public services [healthcare, for example] which improve social outcomes [public health]. And, one new funding model currently being tested, for the past decade in the United Kingdom, is Social Impact Bonds (SIBs).

Definition

A SIB is a form of payment by results (PBR) in which funding is obtained from private investors to pay for interventions to improve social outcomes. If these interventions succeed in improving outcomes, they should result in savings to the Government and provide wider benefits to society. Of course, as part of a SIB, the Government agrees to pay a proportion of these savings back to the investors. If outcomes do not improve, investors do not receive a return on their investment.

Link: http://en.wikipedia.org/wiki/Social_impact_bond

Wall Street’s Securitization

Wall Street can securitize almost any asset for a commission, or to hold it for profit or loss. Remember David Bowie bonds?

“Securitization” is the process through which an issuer creates a financial instrument by combining other financial assets and then marketing different tiers of the repackaged instruments to investors. The process can encompass any type of financial asset and promotes liquidity in the marketplace.

Link: http://thehealthcareblog.com/blog/2012/03/05/could-social-impact-bonds-help-restore-public-budgets/

SIBs

SIBs may be an example of securitization. By combining small debt into one large pool, the issuer can divide the large pool into smaller pieces based on each individual bond’s inherent risk of default, and then sell those smaller pieces to investors. The process creates liquidity by enabling smaller investors to purchase shares in a larger asset pool. Individual retail buyers, like physician-investors and others, are able to purchase portions the bond. Without the securitization, retail investors might not be able to afford to buy into a large pool of bonds.

Read more: http://www.investopedia.com/terms/s/securitization.asp#ixzz1oGtOPTvZ

Assessment

This is the first time we’ve discussed SIBs on this ME-P. But, they should get much more attention from our CPA, investment advisor [IA] and financial advisory [FA] readers now that President Obama has announced his support for this British idea like getting private investors to pay for public services such as housing for the homeless, health care for vulnerable populations; or even education. It could work for anything that can save the Government money in the long run, but costs money up front, as long as we can measure it.

Link: http://www.fastcompany.com/1728321/the-most-exciting-00003-of-obama-s-budget-social-impact-bonds

Conclusion

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

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

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

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PODCAST: Physician’s Mental Health

Posted on May 25, 2023 by Dr. Marcinko

Doctor Burnout According to Specialty

By Eric Bricker MD

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SOCIAL MEDIA: Dr. Vivek Murthy Warns on Children’s Mental Health

Posted on May 24, 2023 by Dr. Marcinko

U.S. SURGEON GENERAL ADVISORY REPORT

By Staff Reporters

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May is mental health month in the USA. US Surgeon General Dr. Vivek H. Murthy issued a powerful public advisory yesterday warning of the considerable risks that social media poses to young people’s mental health. “Nearly every teenager in America uses social media, and yet we do not have enough evidence to conclude that it is sufficiently safe for them,” Murthy wrote. He argued that kids have “become unknowing participants in a decades-long experiment.”

The surgeon general’s report focuses on the impacts of social media on teens and kids—both positive and negative—and the attendant health risks. The report outlines two types of dangers associated with social networks: content-related problems, such as negative self-image or bullying, and use-related problems, such as poor sleep and addiction.

What we know about social media and kids’ mental health

By all accounts, America’s youth are currently experiencing a mental health crisis.

  • The number of teens and young adults with clinical depression doubled between 2011 and 2021, according to San Diego State University psychology professor Dr. Jean Twenge.
  • In 2021, the CDC found that nearly 25% of teenage girls had made a suicide plan.

Many experts have pointed to social media as a potential cause since the deterioration of kids’ mental health has coincided with the rise of social media platforms over the last decade.

Still, the effect of likes, retweets, and TikTok comments on kids’ brains remains more or less a mystery. We know that social media use affects adolescents and that teens show alarming rates of anxiety and depression. But studies that have attempted to determine whether social media is a direct cause of worsening mental health have been inconclusive. Plus, not all kids are impacted by social media similarly: Some—adolescent girls, for instance—appear to be more at risk than others.

Finally, and according to Morning Brew, while researchers search for answers, some lawmakers are pushing ahead with restrictions on teens’ use of social media. In March, for example, Utah became the first state to establish a curfew for teens on social media apps and mandate that parents have access to their children’s accounts.

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BREAKING: News on Yelp!

Posted on May 24, 2023 by Dr. Marcinko

By Staff Reporters

Markets: Stocks sagged as investors wondered whether those “productive” debt-ceiling meetings would actually lead to the production of a deal to raise the borrowing cap. The “X-date” by which the US would default on its debts could arrive in eight days [June 6-8].

  • Stock spotlight: Yelp shares popped after an activist investment firm called on the review app to explore strategic alternatives, including a sale, the WSJ reported. The activist investor believes that Yelp could fetch a price that’s more than double its current value.

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U.S. DEBT CEILING DISCUSSIONS: No So Fast!

Posted on May 23, 2023 by Dr. Marcinko

By Staff Reporters

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Talks were “productive,” but no debt ceiling deal yet

As the US careens toward a June 1st deadline to avoid default, President Joe Biden and House Speaker Kevin McCarthy met last night and failed to reach an agreement to prevent economic chaos. Still, McCarthy called their discussion “productive” and “professional,” saying the tone was “better than any other time we’ve had discussions.”

MORE: https://abcnews.go.com/Politics/biden-negotiate-directly-mccarthy-debt-ceiling-republicans-move/story?id=99490207

Before the meeting, McCarthy acknowledged that a deal must be struck this week in order to get it through Congress prior to the deadline, but the two sides remain far apart on the Republican’s demands for spending cuts.

MORE: https://www.theguardian.com/us-news/2023/may/23/first-thing-biden-and-mccarthy-hold-productive-debt-talks-but-no-deal-reached

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RIGHTS: Mental Health in America [Georgia]

Posted on May 23, 2023 by Dr. Marcinko

MENTAL HEATH AMERICA

By Staff Reporters

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MENTAL HEALTH PARITY ACT

Atlanta, GA – Governor Brian P. Kemp, joined by First Lady Marty Kemp and their three daughters, Lt. Governor Geoff Duncan, Speaker David Ralston, members of the House and Senate, and mental health advocates, to sign the Mental Health Parity Act (HB1013) into law.

You may view his remarks from the bill signing ceremony below, and you can watch the full ceremony here.

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Mental Health Rights

People living with mental health conditions are people. They have people they love, activities they enjoy, and dreams for their lives. As people, they deserve to be treated with dignity, and under the law they have rights and protections. 

GA MENTAL HEALTH PARITY LAW: https://gov.georgia.gov/press-releases/2022-04-04/gov-kemp-provides-remarks-and-signs-mental-health-parity-act

Unfortunately, it has long been the case that individuals with mental health conditions are among the most abused and discriminated against in our country. From leaving people to languish in overcrowded state hospitals to lobotomies and forced sterilization, the treatment of those with mental health conditions is a dark stain on our history as a nation.

While we have come a long way, abuse and discrimination continue to be serious problems today. The shackling or restraining of children, keeping people out of work, and denying access to services are just a few examples of the way we continue to fail the 1 in 5 Americans that has a diagnosable mental health disorder.

CITE: https://www.r2library.com/Resource/Title/082610254

This is not just a small issue for a small group of people: half of all Americans will experience a diagnosable mental health condition in their lifetime. If it is not us being directly impacted, it is likely that it will be our family members, friends, or loved ones– whether we know it or not. Beyond struggles in education or employment, we see the loss of human dignity and even human life for the people we love and care about when we do not work to address abuses in the system.

For Mental Health America, the fight against abuse and discrimination is essential to our history and continues to guide our work. MHA’s symbol, which sits in our national office, is the Bell of Hope cast from the chains and shackles that were used to restrain individuals in old state hospitals. As an organization, MHA is committed to the principles of human and civil rights inherent to the concept of equal justice under the law.

PROVIDERS: https://medicalexecutivepost.com/2022/10/05/a-review-of-mental-healthcare-provider-types/

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

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META: Busted and Fined!

Posted on May 22, 2023 by Dr. Marcinko

By Staff Reporters

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LONDON (AP) — The European Union just slapped Meta with a record $1.3 billion privacy fine today and ordered it to stop transferring user data across the Atlantic by October, the latest salvo in a decadelong case sparked by U.S. cybersnooping fears.

The penalty fine of 1.2 billion euros from Ireland’s Data Protection Commission is the biggest since the EU’s strict data privacy regime took effect five years ago, surpassing Amazon’s 746 million euro penalty in 2021 for data protection violations.

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Debt Limit and Foot Locker?

Posted on May 20, 2023 by Dr. Marcinko

By Staff Reporters

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Debt Limit: Stocks took a dive yesterday even though Jerome Powell said that interest rates may not have to rise as much as expected to quash inflation. What could loom even larger than Jerome Powell? A hiccup in negotiations over the debt ceiling raised fears about the possibility of the US defaulting. In fact, negotiations aimed at raising the nation’s debt limit resumed briefly last night after being halted for six hours during the day when Republicans broke off talks saying the White House was being unreasonable. A major sticking point was said to be the overall amount of government spending for next year as the deadline to get a deal in place to prevent an economically crippling default on June 1st draws near. Although no breakthrough came from the evening’s talks, further discussions are reportedly scheduled for later today.

Stock spotlight: Investors were about as interested in Foot Locker as an old stinky sneaker after a slowdown in sales prompted the retailer to slash its outlook for the year.

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GAP BETWEEN A.I. AND BEDSIDE: Participatory Workshop on the Barriers to the Integration, Translation, and Adoption of Digital Health Care and AI Startup Technology Into Clinical Practice

Posted on May 19, 2023 by Dr. Marcinko

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The study examines the challenges of integrating new technologies in clinical practice, identified four primary barriers: insufficient knowledge of health system technology procurement protocols, which can vary across facilities; strict regulations and clinical trial requirements; obstacles in the health system technology procurement process; and competitive disadvantages for smaller startups.

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DR KENT and the ME-P

Posted on May 18, 2023 by Dr. Marcinko

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Hello All My ME-P Friends

My name is Dr. Kent Mercado JD, and I am running for Congress to be a voice for the people of Illinois District 11.

I am a proud long-time resident of Illinois, and I am excited at the thought of representing my neighbors in District 11. I have achieved many accolades over the years in my professional career, but my proudest achievement of all is my family. I have been married to my lovely wife for over 30 years, and we raised three beautiful children together. I attended Kent State University and received my Juris Doctorate at the University of Illinois Chicago School of Law.

I am a licensed physician, attorney, and healthcare and governmental affairs consultant. I am also an accomplished leader in healthcare management and international medical missions. I was honored to serve as Medical Director of the Zacatacas Medical Mission in Mexico in 2008. I later led a team of nine doctors on medical missions in Haiti where we performed surgery and provided medicine to hundreds of patients. I played a large role in procuring medical and surgical supplies for the medical missions in Bolivia, Peru, Mexico and other countries. I was blessed to have been able to gather and send over one million dollars’ worth of supplies to help the victims of Haiti’s massive earthquakes. One of my favorite achievements in my medical missions experience is when I helped coordinate the donation of school supplies, backpacks and clothing for over 600 children in Kenya.

I believe I have unique perspectives and ideas that will benefit my constituents and have gained the skills needed to be a capable congressman. I am known for leading and implementing complex solutions while maintaining alignment with stakeholders and managing expectations. Throughout my time as an attorney and leading missions efforts, I have learned how to consistently and quickly adapt to deal with challenges in a manner that results in positive outcomes. I am aware of the importance of adhering to schedules and standards, particularly when working on large-scale initiatives. I work well among diverse groups of people at all levels, and I have extensive experience in leading timely delivery of reliable solutions. I have also worked with several government agencies to help grow non-profit organizations through fundraising and program management.

I have loved every minute of providing aid to those in different countries and gaining experiences both professionally and personally. While I have enjoyed and cherished my time providing for those in need around the globe, I am now ready to focus my efforts on serving my neighbors in District 11. I’ve never run for office before, but I know I am prepared for it and ready to help. I look forward to combining all areas of my professional background to make positive changes in my community.

I hope you will visit my website to learn more about my campaign and join our team by making a contribution of $3,300, $1,000, $500, 250, or $100. Any amount donated is greatly appreciated and will assist me in winning this race so we can ensure that the welfare of the people of District 11 is put first.

THANK YOU

Please Click Here to Donate: https://tinyurl.com/yckrppn8

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NIH: Meet the New Director Dr. Monica Bertagnolli MD

Posted on May 17, 2023 by Dr. Marcinko

By Staff Reporters

President Joe Biden said Monday he intends to nominate a new director for the National Institutes of Health. Dr. Monica Bertagnolli, a surgical oncologist and cancer researcher, was picked by Biden as the successor to Francis Collins.

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

“Dr. Bertagnolli has spent her career pioneering scientific discovery and pushing the boundaries of what is possible to improve cancer prevention and treatment for patients, and ensuring that patients in every community have access to quality care,” Biden said in a statement. “As Director of the National Cancer Institute, Dr. Bertagnolli has advanced my Cancer Moonshot to end cancer as we know it.”

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PODCAST: Statistics in Health Care Finance

Posted on May 16, 2023 by Dr. Marcinko

By Eric Bricker MD

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Subscribe to the Medical Executive-Post

Specificity versus Sensitivity: https://medicalexecutivepost.com/2020/03/20/medical-laboratory-sensitivity-versus-specificity/

Correlation versus Causation: https://medicalexecutivepost.com/2021/02/05/correlation-is-not-causation/?preview_id=239347&preview_nonce=a2cdc51424&preview=true

False Positives and Negatives: https://medicalexecutivepost.com/2019/09/14/what-are-false-positive-and-false-negative-tests/

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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™

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

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What is a SKINNY Health Insurance Network?

Posted on May 15, 2023 by Dr. Marcinko

NARROW NETWORKS

By Staff Reporters

An increasing number of insurers now promote “narrow network” plans that can be less expensive than more traditional offerings. However, that added affordability comes with a tradeoff that could leave you with fewer options for covered medical services.  

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

Understanding Narrow Networks: Narrow network plans are similar to the health maintenance organizations (HMOs). Like standard HMOs, these plans limit coverage to a select group of physicians, specialists and hospitals. However, narrow network plans can be even more restrictive in the number of providers they include. Those providers generally have been proven to have higher measured quality and better outcomes for patients. They also typically agree to lower reimbursements from insurers, which can mean lower premiums and out-of-pocket expenses for consumers.   You’re more likely to see narrow networks — which include narrow pharmacy networks — if you shop for your own health insurance on HealthCare.gov or your state’s insurance exchange. They’re less common in the plan options provided by private employers.  

Advantages Beyond the Savings The fact that narrow network plans include fewer providers doesn’t mean you’ll be getting lower quality care. In fact, many insurers require providers to have a proven track record that’s focused on their patients’ health outcomes. And they can offer a number of additional advantages, beyond just lower costs:

  • Coordinated care. Working within a single health system can mean better communication between your doctors. You might also have easier access to all your medical records through a dedicated online portal.
  • No referrals. Traditional HMO plans generally require a referral from your primary care physician for any consultations with a specialist. Many narrow network plans eliminate this requirement.
  • Added benefits. Many narrow network plans offer benefits designed to keep high-risk patients healthier. These can include options like free health coaching and live video services that enable remote, online medical consultations.  
Narrow Provider Networks in New Health Plans - RWJF

CONS: The biggest disadvantage to narrow network plans is less choice. Insurers keep these plans more affordable by negotiating lower reimbursements with health care providers. In return, those providers could see patient rosters grow, because smaller networks also mean less competition for those within the network. Smaller networks also can mean:

  • A need to change physicians. Your current primary care physician and specialists might not be included in the plan. This can mean starting over with new doctors who aren’t familiar with your particular health concerns.
  • Longer drives. With fewer choices, you may be forced into a longer commute to see an in-network physician. This could become a hardship for those in rural locations.
  • Lack of specialty options. A smaller network might not include the broad range of specialists large networks typically include.

WHITE PAPER: https://ldi.upenn.edu/wp-content/uploads/archive/pdf/the-skinny-on-narrow-networks.pdf

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Mental Health Entrepreneurial Start-Up Companies

Posted on May 14, 2023 by Dr. Marcinko

Top Ten [10] Venture Capital Backed

By Dr. David Edward Marcinko MBA

By Carol Miller RN MBA

By http://www.MCOL.com

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Mental Health White Paper:

FILE: https://healthcarefinancials.files.wordpress.com/2019/05/mental-health-dr.-marcinko.pdf

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

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Happy Birthday Florence Nightingale [203rd]

Posted on May 12, 2023 by Dr. Marcinko

By Staff Reporters

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Happy 203rd birthday to Florence Nightingale, the founder of modern nursing. She rose to fame during the Crimean War, when her hygiene standards substantially reduced the mortality rate at army hospitals. The healthcare industry still relies on some of her ideas, such as using data as a tool to improve hospital care. The “lady with the lamp” is still lighting the path forward.

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PUBLIC HEALTH EMERGENCY: Ends May 11th, 2023

Posted on May 11, 2023 by Dr. Marcinko

By Health Capital Consultants, LLC

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On January 30th, 2023, President Joseph Biden announced that the public health emergency (PHE) and national emergency declaration related to the COVID-19 pandemic will finally end on May 11, 2023, after being in place for over three years.

And so, this Health Capital Topics article will discuss the changes that will take place after both declarations cease, and the implications for stakeholders.  (Read more…)

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UnitedHealth Group’s Physician Acquisition Efforts Accelerate

Posted on May 10, 2023 by Dr. Marcinko

By Health Capital Consultants, Inc

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On February 22, 2023, UnitedHealth Group’s (UHG’s) Optum division, the health insurance giant’s care delivery arm, acquired Crystal Run Healthcare, a New York based physician group of almost 400 physicians, nurse practitioners, and other providers

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

This significant move is just the latest in UHG’s concerted effort over the past few years to acquire outpatient providers, surgery centers, and physician groups. This Health Capital Topics article will briefly survey some of the insurer’s recent acquisitions and initiatives to expand their physician services network. (Read more…)

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PODCAST: Financially Hospitals Must Survive

Posted on May 9, 2023 by Dr. Marcinko

HOW TO SURVIVE?

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PODCAST: Health Insurance Prior Medical Authorization Rates Are Down

Posted on May 8, 2023 by Dr. Marcinko

BUT MEANINGFUL?

By Eric Bricker MD

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

PODCAST: How Extensive is Healthcare Prior Authorization?

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What is “Prudence” in Finance and Investment Management?

Posted on May 5, 2023 by Dr. Marcinko

ON “PRUDENCE” IN FINANCE AND INVESTMENT MANAGEMENT
Courtesy: http://www.CertifiedMedicalPlanner.org

CMP logo

TERMS & DEFINITIONS FOR PHYSICIANS AND ALL INVESTORS:

PRUDENT BUYER: The efficient purchaser of market balance between value and cost.

PRUDENT MAN RULE: An 1830 court case stating that a person in a fiduciary capacity (a trustee, executor, custodian, etc) must conduct him/herself faithfully and exercise sound judgment when investing monies under care. “He is to observe how men of prudence, discretion and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent distribution of their funds, considering the probable income as well as the probable safety of the capital to be invested.” Allows for mutual funds and variable annuities.

PRUDENT INVESTOR RULE: A fiduciary is required to conduct him/herself faithfully and exercise sound judgment when investing monies and take measured and reasonable investment risks in return for potential future rewards. Allows for mutual funds, stocks, bonds, variable annuities asset allocation & Modern Portfolio Theory.

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

Product Details

UNIFORM PRUDENT INVESTOR ACT: https://medicalexecutivepost.com/2011/02/18/the-uniform-prudent-investor-act-versus-fiduciary-accountability/

EDITOR’S NOTE: We interviewed noted authority Ben Aikin AIF® on this topic more than a decade ago. He was ahead of his time regarding fiduciary accountability and we appreciate his insights.

Dr. David Edward Marcinko MBA CMP®

[Editor-in-Chief]

INTERVIEW: https://medicalexecutivepost.com/2009/03/01/an-interview-with-bennett-aikin-aif/

FIDUCIARY OATH: http://www.thefiduciarystandard.org/wp-content/uploads/2015/02/fiduciaryoath_individual.pdf

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

ORDER Textbook: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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

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

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Financially Egalitarian Dating, Marriage and Divorce Mediation for Doctors

Posted on May 4, 2023 by Dr. Marcinko

By Staff Reporters and Anju D. Jessani MBA

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In 1972, husbands were the primary or sole breadwinners in 85% of U.S. married households, while 5% of wives made all or most of the money, and 11% of married couples had equal salaries. According to the Pew Research Center, things have changed quite a bit in 50 years.

Today, 55% of husbands are now the primary or sole financial supporters (a 35% drop). Financially egalitarian marriages have risen to 29% (more than a 160% increase), and 16% of married women provide the lioness’ share of family finances (a 220% increase).

MORE: https://medicalexecutivepost.com/2023/04/14/physician-salary-pay-gap/

RELATED: https://medicalexecutivepost.com/2021/12/14/new-study-compares-medicare-commercial-payment-gaps-by-specialty/

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

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The “New” Dental Support Organization Business Model

Posted on May 3, 2023 by Dr. Marcinko

By Maia Anderson and Staff Reporters

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Watch out, private practice ownership. According to HealthcareBrew, Dental Support Organizations (DSOs) are the hot new business model for dentistry.

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

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DSOs are companies that take on all the business-related tasks necessary to run a dental practice, like IT support, accounting and billing, marketing, and facility maintenance, Lisa Ward, VP of communications at industry trade group the Association of Dental Support Organizations, told Healthcare Brew.

A DSO can own the dental practice it operates, or a private practice can contract with a DSO. Some DSOs are owned by a group of dentists, but private equity firms own many large DSOs, according to the Academy of General Dentistry.

The idea behind a DSO is that the “dentist can focus on patient care and not have to worry so much about the business side,” Ward said.

The DSO business model was created in 1975 but didn’t become popular until the 1990s, as dentists graduated with piles of student debt and found it hard to open their own practice, according to Huron Consulting Group.

Today, 10.3% of dentists are affiliated with a DSO, per investment bank Harris Williams. In 2020, 30% of dental school seniors said they planned to join a DSO-affiliated practice, compared to 12% in 2015, a survey from the American Dental Education Association found.

The rise in popularity of DSOs has brought about the decline of private practice ownership. In 2021, the number of dentists who owned their practices fell to 73%, according to research from the ADA.

Maia at anderson@morningbrew.com.

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RELATED: https://medicalexecutivepost.com/2007/11/27/ppmc-redux/

MORE: https://medicalexecutivepost.com/2022/11/30/the-benefits-of-dentistry-unhurried/

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USA nears DEFAULT while Europe INFLATES!

Posted on May 2, 2023 by Dr. Marcinko

By Staff Reporters

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Treasury Secretary Janet Yellen warned yesterday that the US could run out of money to pay all its bills as early as June 1st if Congress does not raise or suspend the debt limit before then. The US’ first-ever default would be disastrous for financial markets, economists say.

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Meanwhile, Europe’s painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Consumer prices in the 20 countries using the euro currency jumped 7% in April from a year earlier, just up from the annual rate of 6.9% in March, the European Union statistics agency Eurostat said today. Food price inflation eased a little, falling to an annual rate of 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%. Core inflation, which excludes volatile food and fuel, slowed slightly but was still high at 5.6%, underlining the expectation that the ECB will press ahead with its campaign to beat inflation into submission with rate hikes.

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Supreme Court Justices Hear False Claims Act Case

Posted on May 2, 2023 by Dr. Marcinko

By Health Capital Consultants, LLC

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On April 18th, 2023, the U.S. Supreme Court heard oral arguments in two False Claims Act (FCA) cases, which cases center on the necessary state of mind needed to violate the FCA.

This Health Capital Topics article will review the oral arguments in the combined cases and how the justices seem posed to rule based on their questions and comments during the session. (Read more…)

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JUST IN: CA Doctor Settles FCA Allegations for $23.9 Million

A plastic surgeon in Beverly Hills, along with his son, and medical practices and billing company, have agreed to pay $23.9 million to resolve allegations that they violated the False Claims Act by submitting or causing the submission of false claims to both Medicare and Medicaid.

The civil settlement includes the resolution of claims brought under the qui tam, or whistleblower, provisions of the False Claims Act by parties who worked for the plastic surgeon (Dr. Aronowitz) and his associated medical practices and businesses. Whistleblowers include TDP, a billing company; Dr. Jason Morris, a podiatrist; and Harold Bautista, a billing department employee. Under the qui tam provisions, a private party can file an action on behalf of the government and receive a portion of any recovery.

Source: Sierra Sun Times [4/29/23]

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BANKS: New Federal Reserve Rules?

Posted on May 1, 2023 by Dr. Marcinko

Detailing Oversight Lapses

By Staff Reporters

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The Fed says it’s time for new bank rules

Just in time for a new looming bank failure, the Federal Reserve issued a 102-page report dissecting the corpse of Silicon Valley Bank. Meanwhile, FRB [First Republic Bank] FRB was just sold to JPMorgan Chase.

LINK: https://medicalexecutivepost.com/2023/05/01/daily-update-frb-bidding-sold-to-jpmorgan-chase/

The Fed pointed the finger at both its own inadequate supervision and the bank’s management.

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

And in an accompanying letter, Michael Barr, the Fed’s vice chair for supervision, called for stricter rules to be applied to more financial institutions and for more tools to be given to regulators to bring firms with poor capital planning and risk management into line.

MORE: https://www.wsj.com/articles/jpmorgan-pnc-bid-to-buy-first-republic-as-part-of-fdic-takeover-aeb936a0?mod=RSSMSN

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PODCAST: Confessions of a Hospital CFO

Posted on May 1, 2023 by Dr. Marcinko

CHIEF FINANCIAL OFFICER

By Eric Bricker MD

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

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USA: Cigarette Smoking is Down!

Posted on April 30, 2023 by Dr. Marcinko

By Staff Reporters

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Cigarette smoking hits a record low in the USA

Just 1 in 9 Americans smoked cigarettes last year, a record low, according to the CDC. Compared to the 1960s, when 42% of US adults smoked cigarettes, it’s a dramatic drop that reflects greater awareness of the health risks of smoking, and economic hurdles like cigarette taxes.

Related: https://medicalexecutivepost.com/2020/09/04/the-economic-impact-of-lung-disease/

But Americans haven’t given up their nicotine addiction entirely. Vaping rose to almost 6% last year, and 14% of teens reported using e-cigarettes in another CDC study.

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

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CELEBRATE: Medical Laboratory Professionals Week

Posted on April 29, 2023 by Dr. Marcinko

APRIL 23-29, 2023

By Staff Reporters

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This celebration is to honor and appreciate the important role laboratory professionals play in improving diagnostic innovation and accuracy, particularly in light of the rapidly evolving global public health climate. Join us in acknowledging and appreciating their contributions and commitment!

Medical Laboratory Professionals Week, an annual celebration of medical laboratory professionals and pathologists who play a vital role in health care and patient advocacy, takes place between April 23-29, 2023. CLSI is one of 17 laboratory medicine organizations responsible for coordinating this annual celebration of this profession.

READ: https://ascls.org/lab-week-mlpw/

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VENTURE CAPITAL FUNDING: Slowing Down in Health Care!

Posted on April 27, 2023 by Dr. Marcinko

By Staff Reporters

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Venture capital funding in the digital health space cooled significantly in 2022 following a red-hot 2021; according to Healthcare Brew. Overall, digital health companies raised $15.3 billion last year, down substantially from the $29.1 billion raised in 2021—but still above the $14.1 billion raised in 2020, according to research from Rock Health, a seed fund that supports digital health startups.

Analysts predict investors will still put a good amount of money into digital health in 2023, particularly in alternative care, drug development technology, and software that reduces physician workload. But investors will likely pull dollars away from a few specific sectors this year.

“There is definitely more diligence, a little bit more skepticism in the investments that are made. So you tend to see investments go slower because diligence is taking longer or investors are being a little bit more conservative,” Adriana Krasniansky, head of research at Rock Health, told Healthcare Brew.

Direct-to-consumer products. The first sector in which Krasniansky expects to see funding slow this year is direct-to-consumer (DTC) products. One reason is that with recession fears, “Consumer spend is not as readily available,” Krasniansky said.

But Apple’s new data privacy rules are also partially to blame. As of April 2021, apps sold through Apple’s App Store must ask users for permission to track activity, and users can opt out. That tracking data is crucial for advertisers to create personalized ads.

“Apple’s privacy measures have impacted customer acquisition costs, making the DTC channel more challenging for a lot of startups—and not just digital health startups,” said Krasniansky.

READ: https://www.healthcare-brew.com/stories/2023/02/21/digital-health-hesitancy?cid=30649741.22835&mid=349b552221c994e2540a304649746d7c&utm_campaign=hcb&utm_medium=newsletter&utm_source=morning_brew

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SVB: Grew from the Business Start-Up Ecosystem

Posted on April 26, 2023 by Dr. Marcinko

By Staff Reporters

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DEFINITION: Startups are young companies or ventures that are founded to develop a unique or innovative product, service, or platform, and bring it to market. They are typically in the early stages of their development and face high uncertainty and failure rates. They are usually self-funded by the founders or seek external funding from investors or loans. They aim to grow large beyond the solo founder and disrupt existing industries or create new one.

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

SVB rooted in the startup ecosystem

SVB was relatively small—it had 40,000 customers compared to JPMorgan Chase’s 66 million—but it claimed to bank nearly half of all US tech and life sciences startups last year, including household names like Etsy, Roblox, and Roku. The cultural cachet of having a relationship with SVB as a venture-backed startup was like sporting a New Yorker tote at Whole Foods.

But the reason its loss will leave such a gaping hole in the startup community isn’t that it was cool to name-drop at a networking event. Because the bank was created in 1983 specifically to cater to venture-backed startups, it helped them in ways that most banks can’t—or won’t.

SVB chill loans: According to the MorningBrew, SVB would offer loans to startups more readily than large banks, basing the loans on a company’s ability to raise venture capital funds, not to turn a profit. SVB was also known for being flexible—even if startups breached their loan terms. “They were the easiest money for an unprofitable, early stage to mid-stage tech company,” Irving Investors founder Jeremy Abelson told The Information. And, even small startups received hand-holding services, such as guidance on how to set up their financial infrastructure. Its bankers personally called startups when they secured their first rounds of funding, according to The Information.

Startups now have to deal with big banks

Several founders who previously banked with SVB told Bloomberg that they’re moving their money to Chase and Bank of America, banks considered “too big to fail.”

Startups’ experience at big banks won’t be like their time at SVB. Not only is Jamie Dimon unlikely to call a startup to congratulate them on their Series A, but big banks are also expected to be more tight-fisted with their loans. The Office of the Comptroller of the Currency, a regulator that oversees large US banks, disapproves of loans to companies that are further out than one year from profitability, according to Crunchbase.

The loss of SVB is therefore expected to have a chilling effect on loans to venture-backed startups, aka “venture debt,” which SVB handed out more of than any other bank.

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