MEDICARE PART B: Dental Care

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

By Staff Reporters

Medicare enrollees could save $500+ per year in out-of-pocket spending if federal lawmakers expand parts of the program to include dental services, according to a report released last week.

The Urban Institute analysis—aided by funding from the Robert Wood Johnson Foundation—examined the implications of expanding Medicare Part B, which covers medically necessary and preventive services, to include dental care. The proposed coverage would be subject to Part B deductibles and 20% cost-sharing, and it could lower out-of-pocket expenses by 80%, or $530 per person annually, the report found.

Katherine Hempstead, a Robert Wood Johnson Foundation senior policy advisor, said the proposed expansion is “an opportunity to increase equity and close long-standing gaps in access to dental services.” Low-income older adults currently “bear the brunt” of Medicare’s lack of dental coverage, she added.

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DAILY UPDATE: Rx MDMA

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

By Staff Reporters

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A psychedelic drug could be an effective treatment for PTSD, according to research published in Nature Medicine this week.

MDMA, aka “ecstasy” or “molly,” combined with therapy, was shown to produce a “clinically meaningful” improvement for almost 90% of treated patients with moderate and severe PTSD.

MORE: https://nida.nih.gov/publications/research-reports/mdma-ecstasy-abuse/what-mdma

The encouraging results put the currently illicit substance on a path to becoming a prescription drug if US regulators approve it for widespread clinical use.

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PCAOB AUDITS: Quality Declines with More Deficiencies

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

Public Company Accounting Oversight Board

By Staff Reporters

DEFINITION: The Public Company Accounting Oversight Board (PCAOB) is a Congressionally-established nonprofit that assesses audits of public companies in the United States to protect investors’ interests. The PCAOB also oversees broker-dealer audits, including compliance reports filed under federal securities laws. In addition, the PCAOB establishes auditing and related professional practice standards for registered public accounting firms to help prepare and issue audit reports. The firms registered with the PCAOB range in size from sole proprietorships to large global organizations.

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

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And now, audit quality declined for a second straight year, the PCAOB announced last week. Around 40% of the audit firms it inspected in 2022 had Part I.A deficiencies, “up from 34% in 2021 and 29% in 2020. Deficiencies are mentioned in Part I.A of an inspection report when the PCAOB finds that an audit firm did not present sufficient evidence to back up its opinion on a “company’s financial statements and/or internal controls over financial reporting.”.

PCAOB Chair Erica Williams expressed disappointment with the findings in a statement. “Let me be clear: a 40% Part I.A deficiency rate is completely unacceptable,” she said. “The PCAOB will continue demanding firms do better and deliver the high-quality audits investors deserve.”

Williams asked investors to encourage audit committees to choose auditors with “proven track records on quality,” and pointed them to resources on the PCAOB’s website that let viewers see and compare audit firms’ deficiency rates.

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DAILY UPDATE: America’s Health Insurance Plans, Auto Insurance and New Car Costs & the Markets

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

By Staff Reporters

Yesterday was the first day of trade group America’s Health Insurance Plans 2023 Consumer Experience & Digital Health Forum, a two-day conference focused on emerging digital health innovations and how they’re changing the consumer experience of the US healthcare system.

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

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According to Bankrate’s extensive research, the average cost of auto insurance in the U.S. is $2,014 per year. Minimum coverage, on the other hand, has an average annual cost of $622. However, car insurance is like a fingerprint. Although your circumstances may seem similar, your personalized rating factors will cause your premium to vary from that of friends, family and the national average. Still, knowing the average cost of car insurance might give you the information you need to ensure you’re not overpaying for this necessary financial protection. 

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The average cost of new cars is now well over $48,000—up almost $6,000 from two years ago and about $10,000 from September 2020, according to Kelley Blue Book.

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Here is where the major benchmarks ended:

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ChatGPT: Accuracy in Clinical Medical Decision Making?

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

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By Dr. David Edward Marcinko MBA FACFAS CMP

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Putting ChatGPT to the test to see if AI can work through an entire clinical encounter with a patient – recommending a diagnostic workup, deciding a course of action and making a final diagnosis – Mass General Brigham researchers have found the large language model to have “impressive accuracy” despite limitations, including possible hallucinations. 

Colleague Bertalan Meskó, MD PhD, The Medical Futurist, sent me the following fascinating report.

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A recent study revealing ChatGPT’s high scoring in clinical decision accuracy has made waves. While the results are certainly promising, it’s crucial to keep in mind that these tests capture only a fraction of the myriad skills and knowledge required to treat patients – and we need to interpret the implications accordingly.

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NARCAN: OTC Naloxone Hydrochloride

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

NARCAN

By Staff Reporters

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According to Morning Brew, for the first time, people across the US will be able to purchase an overdose-reversal drug that’s as easy to administer as Flonase, without a prescription. Next week, nationwide chains like Walgreens, CVS, Walmart, and Rite Aid will begin selling two-dose boxes of Narcan, a naloxone nasal spray that saves people from opioid overdose, in stores and online.

Making naloxone widely accessible has long been a goal for public health experts because Fentanyl-laced drugs can kill people before paramedics arrive, but some now worry that over-the-counter Narcan’s $45 retail price could be too high for those who need it most.

That’s where insurance comes in:

  • Medicaid and Medicare already cover prescription naloxone, and so far, Missouri, California, Massachusetts, Washington, Rhode Island, and Oregon Medicaid programs said they’ll cover OTC Narcan, too.
  • While private health plans often restrict OTC drug coverage, Blue Cross Blue Shield of Massachusetts said it’ll fully cover nonprescription Narcan.

But this won’t help the one-fifth of people with opioid use disorder who are uninsured. Some government and harm reduction programs give out Narcan for free—and those groups can now order two-dose boxes in bulk at a discounted $41 per box, according to manufacturer Emergent BioSolutions.

PODCAST BALTIMORE NOD: https://medicalexecutivepost.com/2022/08/31/what-is-the-baltimore-nod/

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

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PODCAST: Health Insurance At Work

Posted on September 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

HARD TO CHANGE

SPONSOR: http://www.CertifiedMedicalPlanner.org

By Eric Bricker MD

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US TAX MEDICAL EXPENSES: https://www.irs.gov/pub/irs-pdf/p502.pdf

BUSINESS MEDICINE: https://tinyurl.com/2y98bhmh

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WEIGHT LOSS: Financially Hot!

Posted on September 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The company that makes Ozempic and Wegovy, Novo Nordisk, just became Europe’s most valuable, eclipsing luxury conglomerate LVMH. The Danish drugmaker had a value of $428 billion when European markets closed yesterday (compared to LVMH’s $419 billion), putting it on top of the heap. Its share price rose on the introduction of Wegovy into the UK market—where it costs much less than in the US.

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

The company’s success has had a big impact on Denmark’s economy: The nation recently boosted its economic growth forecast for the year as a result.

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NURSING HOMES: Federal Minimum Staffing Levels

Posted on September 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

A JOE BIDEN PROPOSAL

By Staff Reporters

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WASHINGTON (Reuters) – President Joe Biden’s administration just proposed setting federal minimum staffing levels for nursing homes, a move aimed at addressing longtime complaints about abuse and neglect in the industry that were highlighted during the COVID-19 pandemic.

MORE: https://medicalexecutivepost.com/2019/02/18/government-report-finds-92-percent-of-nursing-homes-employ-convicts/

Biden pledged last year to protect American seniors’ lives and life savings by cracking down on nursing homes that commit fraud or endanger patients’ safety and address the chronic under staffing at long-term care facilities that was exposed during the pandemic.

PODCAST: https://medicalexecutivepost.com/2021/07/24/podcast-nursing-home-care/

USBLS: https://www.bls.gov/iif/factsheets/workplace-violence-healthcare-2018.htm

The nursing home industry takes in nearly $100 billion a year from U.S. taxpayers, yet many under staff their facilities, the White House said. The new rule proposes that facilities have a registered nurse (RN) on site around the clock. It says each resident should receive 2.45 hours (two hours and 27 minutes) of care from a nurse aide every day, plus at least 33 minutes of care from an registered nurse every day.

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

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RUDE PATIENTS: To Laboring Physicians?

Posted on September 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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A spike in rude behavior emerged as one of the pandemic’s many societal consequences and has not receded alongside the public health crisis. The uptick in poor behavior is likely driven by increased stress and isolation from society, The Atlantic’s Olga Khazan reported in 2022. In many cases, these stressors mean people are easily set off when encountering innocuous requests, Keith Humphreys, PhD, a psychiatry professor at Stanford University, told The Atlantic. 

The trend has hit healthcare hard. Hospitals and health systems nationwide have reported an uptick in disrespectful, discriminatory, or violent behaviors from patients since the pandemic. Nearly 24 percent of physicians reported experiencing workplace mistreatment in 2020, including verbal mistreatment or abuse, according to a study published in JAMA Network Open. 

Source: Mackenzie Bean, Becker’s Hospital Review

MORE: https://medicalexecutivepost.com/2023/08/07/medical-workplace-violence-prevention-guidelines/

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The Medical Expert [Trial Witness]

Posted on September 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

An Important Determinant of Success or Failure

By Dr. Jay S. Grife; JD, MA 

In every civil medical malpractice trial, besides counsel for the respective parties, there is a Plaintiff (patient) and a Defendant (doctor).

In addition to the parties and their respective counsel, witnesses, both lay and expert, form the main body of testimony that will be elicited and heard by the Judge and jury.  

Overview of Witness Types 

Both lay and expert witnesses serve to tell the story of the parties to the court.  In a medical malpractice case, a lay witness generally explains the facts of specific events which they have witnessed, or more likely, how the Plaintiff has been affected by the alleged negligence. The parties may also call a special kind of witness, called a “medical expert”, to testify on their behalf.   

Definition of Medical Expert 

An expert witness is simply a witness with experience in a particular field, whose testimony will aide the lay jury in understanding the medical aspects of the case. In most medical malpractice cases, the Plaintiff must present expert testimony from a health care practitioner that the Defendant fell below the standard of care required and caused injury to the patient.  

These are the two essential prongs which when conjoined equate to negligence in legal terminology; (1) liability being a breach in the standard of care and (2) causation being that the negligence caused the Plaintiff damages. 

The “Two-Pronged” Test 

It is essential to understand that a Plaintiff cannot prevail in litigation if only one of these two prongs has been left unsatisfied.

For example, if a physician failed to diagnose cancer in a terminally ill patient, the fact that the diagnosis was not made can be deemed negligent, but the negligence in the failure to diagnose did not damage the patient, in that she was terminal when she initially presented. 

It is this two pronged test which delineates legal negligence from commonly expressed negligence or a bad result from the care and treatment provided.

Experts Not Always Required 

In rare instances, and in ever diminishing jurisdictions, expert testimony is not required in medical negligence matters.

In those instances, the legal doctrine of Res Ipsa Loquitur or “the thing speaks for itself” often will attach to obviate the expert’s place.

Normally, in a medical malpractice case, a Plaintiff is required to establish: (1) a breach in the standard of care or that an act or omission by the Defendant that was not in keeping with the degree of skill and learning ordinarily used under the same or similar circumstances by members of defendant’s profession; and (2) causation or that such negligence or omission caused the plaintiff’s injury.

The Res Ipsa Loquitur Doctrine 

However, the doctrine of Res Ipsa Loquitur exists to preclude the need for direct proof of negligence through medical testimony, and allows cases submitted under the doctrine to proceed to the jury even in the absence of testimony as to negligence because a jury is permitted to draw an inference of negligence from the specific act itself.

The classic example of such an incident would be the leaving of a surgical instrument inside a patient’s body, or operating upon the wrong body part [“Never-Event”]. 

Never-Events: https://medicalexecutivepost.com/2007/12/20/new-never-events-policy/

Conclusion:

What has been your experience with medical expert witnesses – help or hindrance – hired gun or balanced interpreter?

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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DAILY UPDATE: August Red, Cannabis Green, Covid-19 and the Markets

Posted on September 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Despite a recent rally, stocks couldn’t climb out of the deep hole they dug themselves earlier in the month, and all three major indexes finished August in the red.

Cannabis companies were the clear winner following news that the Department of Health and Human Services recommended that green pot should be reclassified as a lower-risk substance.

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And, Anthony Fauci MD has said that there is “not going to be the tsunami of cases that we’ve seen” during the darkest days of the COVID-19 pandemic, following the emergence of two new variants of the virus. Speaking to the BBC, the former chief medical advisor to the president, who was regularly the face of the government’s response to the pandemic, played down the seriousness of the new strains, stressing that the vast majority of the population had enough immunity to prevent infections requiring medical intervention.

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Markets: The Dow wrapped up its best week since July as investors celebrated another rock-solid jobs report. The economy added 187,000 jobs in August, and the unemployment rate rose to 3.8% from 3.5%—signs that the labor market is cooling, but not so fast that it’s likely to spark a recession.

Here is where the major benchmarks ended:

  • The S&P 500 Index was up 8.11 points (0.2%) at 4,515.77; the Dow Jones Industrial Average (DJIA) was up 115.80 points (0.3%) at 34,837.71, up 1.4% for the week; the NASDAQ Composite (COMP) was down 3.15 points at 14,031.81, up 3.2% for the week.
  • The 10-year Treasury note yield (TNX) was up about 7 basis points at 4.177%.
  • CBOE’s Volatility Index (VIX) was down 0.49 at 13.08.

Financial companies were among the strongest performers Friday, with the KBW Regional Banking Index (KRX) gaining about 2.5% to a three-week high.

Energy shares were also strong as WTI crude oil futures extended gains after the Energy Information Administration earlier this week reported a larger-than-expected drop in U.S. inventories. Crude futures surged nearly 3% to ended near $86 a barrel, the highest since mid-November. Consumer staples and consumer discretionary were among the weakest performers.

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

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MARCINKO & Associates, Inc.

Posted on September 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

WHAT WE DO AND HOW WE ASSIST MEDICAL COLLEAGUES

Hard Business Advice AND Personal Lifestyle Coaching

http://www.MARCINKOASSOCIATES.com

By Ann Miller RN MHA CMP™

At Marcinko & Associates our clients traditionally include physicians [MD, MBBS and DO], dentists [DDS and DMD], podiatrists [DPM], Registered Nurses [RNs], Certified Registered Nurse Anesthetists [CRNA], Physician Assistants [PA] and Nurse Practitioners [NP]. A growing cohort of clients include medical technologists, physical, speech and occupational therapists, etc.

The above are naturally segregated into three career tranches: 1. New practitioners, 2] Mid-Career practitioners and 3] Mature practitioners. We serve them all and are fully prepared for any special needs situation that may arise in any tranche [death, divorce, adverse risk event and/or bankruptcy, etc].

Marcinko & Associates understands the complexity of financial and non-financial deal terms because we are also doctors. Our “hard” knowledge of your business comes from being actual healthcare facility owners, operators and medical practitioners [with additional professional licenses and expertise] enabling us to effectively analyze your business, take corrective measures and present your healthcare entity in the best possible and accurate light.

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But, if you’re looking at this website, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance. Or, you are looking for a new non-clinical career, thinking of finance, investing, retirement, or all of the above. Perhaps you are just looking to regain the joy and meaning in your medical or professional career? This is known as “soft” psychology, coaching, personal consulting or fraternal advice.

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Regardless, of your “soft” personal or “hard” corporate needs, our transparent Fees for Service [FFS] model is moderated for all colleagues based on the acuity and urgency of their engagements. Reduced rates and/or limited charity work may also be possible.

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http://www.DavidEdwardMarcinko.com

CONTACT US TODAY – THRIVE TOMORROW!

Suite #5901 Wilbanks Drive

Norcross, Georgia USA 30092-1141

email: MarcinkoAdvisors@msn.com

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CAREER: Physician Coaching and Development

Posted on September 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

MARCINKO ASSOCIATES, Inc.

SPONSOR: http://www.MarcinkoAssociates.com

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Did you Know?

Experts estimate that it can cost more than $1 million to recruit and train a replacement for a doctor who leaves the profession because of burnout. But, as no broad calculation of burnout costs exists, Dr. Tait Shanafelt [Mayo Clinic researcher and Stanford Medicine’s first Chief Physician Wellness Officer] said Stanford, Harvard Business School, Mayo Clinic and the American Medical Association (AMA) are further cost estimating the issue. Nevertheless, Shanafelt and other researchers have shown that burnout erodes job performance, increases medical errors, and leads doctors to leave a profession they once loved.

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

Fortunately, we can help. From formal coaching to second career opinions, mentoring and advising, we can help with our remediation executive career programs. Regardless of what is happening in your life, it is wonderful to have a non-partial, confidential and informed career coach and sounding board on your side.

CITE: JAMA Internal Medicine [Effect of a Professional Coaching Intervention on the Well-Being and Distress of Physicians].

NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6686971/

THANK YOU

CONTACT US: https://marcinkoassociates.com/process-what-we-do/

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PODCAST: Poverty in Healthcare Explained

Posted on September 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Eric Bricker MD

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MARCINKO & Associates, Inc.

Posted on August 31, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

WHAT WE DO AND HOW WE ASSIST MEDICAL COLLEAGUES

Hard Business Advice AND Personal Lifestyle Coaching

http://www.MARCINKOASSOCIATES.com

By Ann Miller RN MHA CMP™

At Marcinko & Associates our clients traditionally include physicians [MD, MBBS and DO], dentists [DDS and DMD], podiatrists [DPM], Registered Nurses [RNs], Certified Registered Nurse Anesthetists [CRNA], Physician Assistants [PA] and Nurse Practitioners [NP]. A growing cohort of clients include medical technologists, physical, speech and occupational therapists, etc.

The above are naturally segregated into three career tranches: 1. New practitioners, 2] Mid-Career practitioners and 3] Mature practitioners. We serve them all and are fully prepared for any special needs situation that may arise in any tranche [death, divorce, adverse risk event and/or bankruptcy, etc].

Marcinko & Associates understands the complexity of financial and non-financial deal terms because we are also doctors. Our “hard” knowledge of your business comes from being actual healthcare facility owners, operators and medical practitioners [with additional professional licenses and expertise] enabling us to effectively analyze your business, take corrective measures and present your healthcare entity in the best possible and accurate light.

***

But, if you’re looking at this website, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance. Or, you are looking for a new non-clinical career, thinking of finance, investing, retirement, or all of the above. Perhaps you are just looking to regain the joy and meaning in your medical or professional career? This is known as “soft” psychology, coaching, personal consulting or fraternal advice.

***

Regardless, of your “soft” personal or “hard” corporate needs, our transparent Fees for Service [FFS] model is moderated for all colleagues based on the acuity and urgency of their engagements. Reduced rates and/or limited charity work may also be possible.

***

http://www.DavidEdwardMarcinko.com

CONTACT US TODAY – THRIVE TOMORROW!

Suite #5901 Wilbanks Drive

Norcross, Georgia USA 30092-1141

email: MarcinkoAdvisors@msn.com

***

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PODCAST: CVS Replaces it’s PBM

Posted on August 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Existential Threat to Pharmacy Benefits Managers?

By Staff Reporters

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DEFINITION

PODCAST: PBM Money Flow Explained

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Just now, CVS got a taste of its own medicine after Blue Shield of California said it will replace CVS’s pharmacy benefit manager system [PBMs] with other companies, including Amazon Pharmacy and Mark Cuban’s Cost Plugs Drugs business, to supply cheaper drugs to its members.

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

The move poses an existential threat to the entire pharmacy-benefit manager model.

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NAHUC: Happy “Health Unit Coordinators” Day

Posted on August 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marcinko MBA

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Today is Health Unit Coordinators Day, It is a day to celebrate the vital behind-the-scenes work these healthcare professionals do. Health unit coordinators act as a liaison between all the departments in a healthcare facility, helping to check in patients, maintain patient records, order supplies, and more.

Myrna LaFleur, who became the NAHUC founding president, invited several interested persons to meet with her in Phoenix, Arizona, on August 23, 1980, to discuss the formation of an association for health unit coordinators. This was the first meeting and resulted in selecting the name of the association. Each year thereafter, August 23 has been declared Health Unit Coordinator Day by many mayors and governors nationwide, who issue proclamations declaring August 23rd “Health Unit Coordinator Day”. Beginning in 2017, NAHUC expanded the recognition period to a full week: August 23-29th.

MORE: https://nahuc.org/

And so, to all you coordinators who keep our healthcare facilities afloat, we salute you.

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COVID VACCINE NEWS: The Companies

Posted on August 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks started the week on an upswing as technology companies rallied—including Nvidia, whose earnings report investors eagerly await tomorrow—helping the NASDAQ snap a four-day losing streak.

But, a new Covid variants are helping to push up the value of companies that make vaccines. Novavax, Moderna, BioNTech, and Pfizer rose yesterday as fall is likely to bring demand for boosters.

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

And, Atlanta-based Morris Brown College has announced that the school is reinstating its Covid mask mandate for the next two weeks as a result of positive cases at the Atlanta University Center.

The historically black college posted a note on its official Instagram account noting that the protocols would be in effect for the next 14 days. This includes a requirement for mask-wearing by students and employees, physical distancing, contact tracing, and other significant efforts to reduce the spread of Covid-19 among the population on the Atlanta campus. 

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National Report Up-Coding Fraud Day

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

AUGUST 21st

By Dr. David Edward Marcinko MBA CMP

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It’s National Report Upcoding Fraud Day, an initiative started in 2017 to support whistleblowers of Medicare fraud, which costs the US billions of dollars each year. If you need any encouragement to report suspected healthcare fraud (like upcoding or inflated Medicare reimbursement claims), here’s your chance.

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

What Is Upcoding?

Upcoding is defined as having a doctor or billing person assign an inaccurate billing code to a medical procedure or treatment. It’s done to increase the reimbursement to that physician.

Beyond that, CPT codes are 5-digit codes that tell billing and insurance companies what was done to you while in that physician’s care. It may sound straightforward, but with around 7,800 codes in use, it isn’t hard to get things mixed up or to miss the fact that they overcharged you for a service.

Sometimes the mistake is made in error. In other situations, the office or hospital may mix it up intentionally. Most often, intentional miscoding happens when the facility is billing Medicaid or Medicare. Again, this may not seem like a big deal for you since the government covers it, but it may still affect your ability to get the healthcare that you need.

MORE: https://medicalexecutivepost.com/2022/11/05/medical-billing-down-and-up-coding/

And so, National Report Upcoding Fraud Day is on August 21st. An initiative by Joel Hesch, a former attorney with the Department of Justice. Hesch and a passionate advocate for whistleblowers, created the day for anyone looking to report healthcare fraud. He wanted to make it easier, so everyone could get the process right. The day generates awareness and detailed steps on how the general public can report unethical healthcare providers. Fraudsters siphon off $65 billion each year in Medicare fraud through inflated reimbursement claims. Upcoding is one of the most rampant types of healthcare fraud that must end.Hesch draws on his 15 years as an attorney in the D.O.J. to support and encourage whistleblowers to come forward. The most successful claims have two things in common – facts and the use of proper reporting channels. National Report Upcoding Fraud Day aims to empower anyone with a legitimate case for claims.

RELATED: https://medicalexecutivepost.com/2013/06/05/understanding-the-spoils-of-healthcare-fraud-and-abuse/

MORE: https://medicalexecutivepost.com/2023/06/29/daily-update-healthcare-fraud-schemes-up-as-the-dow-dips-down/

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The Next-Generation of “Anti-Millionaire” Doctors

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

“$1 Million Mistake: Becoming a Doctor”

See the source image

BY DR. DAVID E. MARCINKO MBA CMP®

CMP logo

SPONSOR: http://www.CertifiedMedicalPlanner.org

CBS Moneywatch published an article entitled “$1 Million Mistake: Becoming a Doctor” Aside from the possibility that devoting one’s life to helping others might be considered a mistake, medical student Dan Coleman was struck by the “$1 million” figure.

Before medical school, he worked in the pharmaceutical industry and even turned down a hefty promotion to his education as soon as possible, rather than defer for a year or two. But, his financial calculations made it fairly obvious that, including benefits, bonuses, and potential promotions, his medical decision was not a $1 million mistake, but was more like a $1.3 million dollar disaster. Still; he opined:

Yet, even today, as we stare down the barrel of the Affordable Care Act, being a doctor is a very desirable job. We may not be famous, but we will be well-respected. We may not be rich, but we will certainly live comfortably. We may work a lot, but we will never be out of work. To future doctors, the young and impecunious, the anti-millionaires, tuition is a mere afterthought. All that matters is the MD.

Source: http://in-training.org/medical-students-the-anti-millionaires-4361

Millionaire Interview 81 - ESI Money

OVER HEARD IN THE MEDICAL STUDENT’S LOUNGE

“We are medical students.
We are young, proud, and righteous.
We have made the hard choice (medicine), but we have cleared the high hurdle (getting into school).


We know healthcare is a difficult, imperfect art, but we are devoted.
We arm ourselves with the weapons of knowledge and compassion, prepared to defend against the onslaught of trauma, disease, and time.
We are here to the bitter end, for our patients and ourselves.
And above all, we know the cost of our choice.

And if we’re lucky, it will stay under 6% interest through graduation”.

Daniel Coleman

[Georgetown University School of Medicine]

First-year Student

Your thoughts are appreciated,

THANK YOU

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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

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

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CARDINAL HEALTH: Profits Up

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

By Staff Reporters

Pharmaceutical distributor Cardinal Health raised its 2024 profit expectations following strong demand for generic and specialty drugs such as GLP-1 medications, the company announced in its Q4 2023 earnings call. The Ohio-based company reported that its pharmaceutical segment profit increased 12% to $504 million in Q4 2023, up from $451 million during the same period last year. “Positive generics program performance” drove the increase, CFO Aaron Alt said during the call. Cardinal, whose fiscal year ends June 30, expects revenue from its pharmaceutical division to grow by 10%–12% in FY 2024, he added.

“Fiscal ’23 was an inflection point for Cardinal Health with improved performance, strong execution, and notable progress against both our short- and long-term plans,” CEO Jason Hollar said.

GLP-1 drugs such as Novo Nordisk-manufactured Ozempic and Wegovy were developed to treat diabetes, but have skyrocketed in popularity as a weight management tool. These medications can stimulate insulin production, which can help lower blood sugar levels and help Type-2 diabetes patients, according to the Mayo Clinic.

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Generative AI Disruption in the Healthcare Industry

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

By Health Capital Consultants, LLC

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Generative artificial intelligence (AI) is the utilization of algorithms to create content such as text, code, imagery, videos, and even simulations in mere seconds. The goal of AI generally is to mimic the intelligence of humans to perform tasks, with generative AI (a type of AI) aiming to learn from data without the assistance of humans. While today’s generative AI bots are not yet prepared for widespread utilization in patient care settings, AI is garnering significant interest in the healthcare industry as providers begin to test the capabilities of AI in clinics and offices.

This Health Capital Topics article will review the role that generative AI is beginning to play in the U.S. healthcare system, the potential of AI in healthcare, and concerns related to the technology. (Read more…)

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PODCAST: Kraft Heinz SUES Aetna Health Insurance Company

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

By Eric Bricker MD

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CAREER: Physician Coaching and Development

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

MARCINKO ASSOCIATES, Inc.

SPONSOR: http://www.MarcinkoAssociates.com

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Did you Know?

Experts estimate that it can cost more than $1 million to recruit and train a replacement for a doctor who leaves the profession because of burnout. But, as no broad calculation of burnout costs exists, Dr. Tait Shanafelt [Mayo Clinic researcher and Stanford Medicine’s first Chief Physician Wellness Officer] said Stanford, Harvard Business School, Mayo Clinic and the American Medical Association (AMA) are further cost estimating the issue. Nevertheless, Shanafelt and other researchers have shown that burnout erodes job performance, increases medical errors, and leads doctors to leave a profession they once loved.

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

Fortunately, we can help. From formal coaching to second career opinions, mentoring and advising, we can help with our remediation executive career programs. Regardless of what is happening in your life, it is wonderful to have a non-partial, confidential and informed career coach and sounding board on your side.

CITE: JAMA Internal Medicine [Effect of a Professional Coaching Intervention on the Well-Being and Distress of Physicians].

NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6686971/

THANK YOU

CONTACT US: https://marcinkoassociates.com/process-what-we-do/

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PODCAST: Health Insurance Company Profits

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

“Inter-Company Eliminations” – Healthcare Managerial Accounting

BY ERIC BRICKER MD

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SDOH: What Exactly are They, Anyway?

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

By Staff Reporters

http://www.MARCINKOASSOCIATES.com

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Social Determinants of Health

 According to Arjun Gosain, some SDOH concepts include:

  • Employment insecurity: Measures whether the patient is employed and their current employment or unemployment experience. This includes whether they were harassed on the job or experiencing unequal pay. Employment insecurity can lead to financial stress, mental health problems, and reduced healthcare access. 
  • Psychological circumstances: Measures current events that are affecting the patient’s health. This encompasses a wide range from unwanted pregnancies to exposure to war or violence. Stress, anxiety, and other negative emotions can have a direct effect on a patient’s physical health and contribute to disease development.
  • Housing insecurity: Notes whether a patient has a consistent place to live or is forced to move regularly. Homelessness or housing insecurity can lead to exposure to the elements, mental health challenges, and increased vulnerability to infection.
  • Social adversity: Examines a patient’s social experience including any discrimination or persecution the individual may be facing. Increased social adversity can cause an individual to socially isolate and develop feelings of depression. 
  • Transportation: Observes the patient’s access to transportation including available public transport. Missed appointments can be the direct result of transportation inaccessibility which leads to a decrease in the quality of care. 
  • Food insecurity: Indicates whether a patient has adequate food access and safe drinking water access. Receiving adequate nutrition is essential for maintaining optimal physical health. For example, if a child is food insecure, it can lead to serious developmental issues and chronic disease.
  • Education and literacy: Observes a patient’s ability to read and comprehend hospital paperwork. Note that individuals with higher literacy and education rates typically make more informed health decisions.
  • Occupational risk: Examines how a patient’s current employment affects their overall health. Determines if their job site places them at risk of toxin exposure, physical harm, undue stress, or other hazardous conditions that can contribute to injuries or illnesses.
  • Economic insecurity: Measures a patient’s poverty level to determine if copays, rent, and hospital bills are manageable. A patient living with inadequate finances will face a greater barrier to quality care. CITE: https://www.r2library.com/Resource/Title/082610254
  • Lack of support: Notes whether a patient has reliable support when experiencing difficult circumstances such as the death of a loved one. If a patient has a present support network, they will be able to receive practical, emotional, and physical assistance in times of need. 
  • Upbringing: Takes a patient’s childhood, family, and upbringing into account to assess if a patient is carrying trauma from previous years. Adverse childhood experiences can increase the risk of chronic diseases and mental health issues later in life. 
  • Language: Examines any language or communication concerns, so that a patient can both communicate their issues and understand oral and written treatment. Miscommunications can lead to misdiagnoses and inadequate treatment. 
  • Physician Stress: https://medicalexecutivepost.com/2022/05/20/sdoh-challenges-physician-stress/
SDOH = Social Determinants of Oral Health

What have we missed?

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BEHAVIORAL FINANCE: Cash is Still “King”

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

TREATING YOURSELF WITH CASH

By Staff Reporters

http://www.MarcinkoAssociates.com

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Folks are more likely to reach for dollar bills than credit cards when making a guilty pleasure purchase, according to new Stanford research.

MORE: https://medicalexecutivepost.com/2022/06/22/behavioral-finance-for-doctors/

In more than 118,000 real transactions at the university bookstore, buyers tended to slap their plastic on the counter for school supplies but pay with cash for “harder-to-justify” items like a stuffed plush mascot. And when asked how they’d pay for a hypothetical Reiki session, participants leaned toward credit card when the treatment was described as doctor-recommended but toward cash when they were told it was just an impulse purchase.

RELATED: https://medicalexecutivepost.com/2023/02/28/dr-richard-h-thaler-and-behavioral-economics/

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CAREER: Physician Coaching and Development

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

MARCINKO ASSOCIATES, Inc.

SPONSOR: http://www.MarcinkoAssociates.com

***

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Did you Know?

Experts estimate that it can cost more than $1 million to recruit and train a replacement for a doctor who leaves the profession because of burnout. But, as no broad calculation of burnout costs exists, Dr. Tait Shanafelt [Mayo Clinic researcher and Stanford Medicine’s first Chief Physician Wellness Officer] said Stanford, Harvard Business School, Mayo Clinic and the American Medical Association (AMA) are further cost estimating the issue. Nevertheless, Shanafelt and other researchers have shown that burnout erodes job performance, increases medical errors, and leads doctors to leave a profession they once loved.

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

Fortunately, we can help. From formal coaching to second career opinions, mentoring and advising, we can help with our remediation executive career programs. Regardless of what is happening in your life, it is wonderful to have a non-partial, confidential and informed career coach and sounding board on your side.

CITE: JAMA Internal Medicine [Effect of a Professional Coaching Intervention on the Well-Being and Distress of Physicians].

NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6686971/

THANK YOU

CONTACT US: https://marcinkoassociates.com/process-what-we-do/

***

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MSNBC Contributor Says Mask-Up After Uptick in COVID-19 Hospitalizations

Posted on August 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

FOX News: A doctor appearing on MSNBC Tuesday said that Americans should start wearing masks for COVID again. Former Obama official and current MSNBC medical contributor Dr. Kavita Patel was brought on Jose Diaz-Balart Reports to discuss an uptick in COVID hospitalizations.

“If you’ve noticed more of your friends, neighbors, loved ones are testing positive for COVID, you’re not alone. According to the CDC, COVID-19 hospitalizations are up 12 percent from last week and, while we’re nowhere near previous levels, it’s still raising concerns,” Diaz-Balart said.

The number of COVID-19 hospitalizations is rising this summer in the U.S., according to the Centers for Disease Control and Prevention (CDC). More than 7,100 patients with COVID were hospitalized in the week of July 15, up from 6,444 the prior week, the sharpest percentage increase since December 2022.

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NIH: Jeanne Marrazzo MD Succeeds Dr. Anthony Fauci as Infectious Disease Chief

Posted on August 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Jeanne M. Marrazzo MD, a University of Alabama at Birmingham infectious-disease expert, will succeed Anthony S. Fauci this fall as director of the National Institute of Allergy and Infectious Diseases, federal officials announced yesterday.

The $6.3 billion research institute is among the largest of the 27 institutes and centers that constitute the National Institutes of Health, America’s flagship biomedical agency. NIAID is also particularly prominent given its involvement in the response to the coronavirus pandemic and other diseases; it has also received attention because of Dr. Tony Fauci’s own high profile and Republicans’ ongoing efforts to investigate the institute’s workings.

Marrazzo, an infectious-disease physician and epidemiologist who has been a principal investigator on NIH grants since 1997, has focused her research on the human microbiome and the prevention of HIV and infections in the female reproductive tract. She emerged as a frequent commentator during the pandemic, appearing on national television and urging Americans to get vaccinated and take other steps to protect themselves from the virus.

An openly gay physician, Marrazzo has studied barriers to care for LGBTQ patients and advocated to address them.

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What is the Free Market Medical Association?

Posted on August 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

[By Staff Reporters]

The Free Market Medical Association Promotes Transparency in Healthcare

The free market movement in healthcare is gaining steam. This is because of providers, patients, and self-funded employers, who believe that changing the way we purchase healthcare services is necessary, and seeking out value driven healthcare providers is important.

Matching a willing buyer with a willing seller of valuable healthcare services is the goal of everyone involved in this movement. We help identify patients willing to pay cash, doctors willing to list their prices, businesses attempting to provide affordable quality insurance, and providers/services/and patient advocates that are helping make everything work.

LINK: https://fmma.org/contact/

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change

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Assessment

To further promote this movement, the FMMA is dedicated to bringing together BUYERS and SELLERS.

And, our Publisher-in-Chief, Dr. David E. Marcinko MBA will be joining FMMA soon. Will you join, too?

Conclusion

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

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

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CMS: Proposes Fee Schedule Payment Cuts to Doctors

Posted on August 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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According to Paige Minemyer of Fierce Healthcare, the Joe Biden administration is proposing cuts to physician payments in its annual fee schedule, and doctors are not happy. Major industry groups have roundly called for Congress to step in to prevent the Medicare reimbursement changes from going through. Last week, the Centers for Medicare & Medicaid Services (CMS) proposed a 3.34% cut to the fee schedule’s conversion factor, which is used to calculate Medicare payouts to docs.

More: https://www.ama-assn.org/practice-management/medicare-medicaid/proposed-336-medicare-pay-cut-shows-why-overhaul-badly-needed

In a statement, the American Medical Group Association (AMGA) said that Medicare payments already fail to keep up with “the increasing cost of delivering healthcare,” and further cuts would only exacerbate that problem. “AMGA members cannot absorb this proposed payment cut,” said AMGA President and CEO Jerry Penso, MD.

BIO: https://www.amga.org/about-amga/amga-difference/board-of-directors/penso/

“Their expenses are continuing to increase, and Congress needs to act to ensure Medicare’s reimbursement reflects the cost of delivering high-quality care to patients.” 

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

Source: Paige Minemyer, Fierce Healthcare [7/17/23]

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CIGNA: Busted PxDx [Procedure-to-Diagnose]

Posted on July 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marcinko MBA CMP

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(AP) — A federal lawsuit alleges that health insurance giant CIGNA used a computer algorithm to automatically reject hundreds of thousands of patient claims without examining them individually as required by California law.

RELATED: https://medicalexecutivepost.com/2022/09/18/ama-joins-class-action-suit-against-cigna/

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The class-action lawsuit, just filed in federal court in Sacramento, says CIGNA Corp. and CIGNA Health and Life Insurance Co. rejected more than 300,000 payment claims in just two months last year.

RELATED: https://medicalexecutivepost.com/2022/07/21/my-conversation-with-an-anonymous-cigna-representative/

The company used an algorithm called PXDX, shorthand for ”procedure-to-diagnosis,” to identify whether claims met certain requirements, spending an average of just 1.2 seconds on each review, according to the lawsuit.

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

Huge batches of claims were then sent on to doctors who signed off on the denials, the lawsuit said.

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PODCAST: https://medicalexecutivepost.com/2023/07/01/podcast-the-cigna-group-ceo/

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PHILLIP MORRIS: Healthcare Revenue Down

Posted on July 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Philip Morris International Inc. abandoned a goal to get at least $1 billion of revenue from healthcare and wellness products next year following setbacks at companies it has acquired in the sector.

The tobacco company has built a health and wellness unit around the purchases of UK inhaler maker Vectura Group Plc and Fertin Pharma, the producer of a smoking-cessation aid. PMI just took a $680 million impairment charge after unsuccessful clinical trials for an inhalable aspirin product as well as slower-than-expected development of other products.

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PMI paid more than $1 billion for Vectura and about $820 million for Fertin in 2021. Vectura scientists faced a backlash after the acquisition, with the company getting kicked out of a medical conference due to its link to the tobacco industry.

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ChatGPT’s Decline, the FTC and Microsoft

Posted on July 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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ChatGPT (Chat Generative Pre-Trained Transformer) is an artificial intelligence chatbot developed by OpenAI and launched on November 30, 2022. It is notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail, and language used. Successive prompts and replies are taken into account at each stage of the conversation as a context.

However, the accuracy of OpenAI’s generative language model appears to have declined much this Spring.

LINK: https://openai.com/blog/chatgpt

A not-yet-peer-reviewed study by Stanford and Berkeley researchers of ChatGPT-4 and ChatGPT-3.5 found a huge difference in the chatbot’s answers between March and June of this year—often for the worse, something people were already reporting anecdotally online.

  • GPT-4 went from 97.6% accuracy in identifying prime numbers a few months ago to only…2.4% in June.
  • The newer version of the language model got better at fending off problematic prompts, like coming up with illegal money-making schemes. But rather than explaining why queries are troublesome, it’s now more likely to simply say something like, “Sorry, but I can’t assist with that.”
  • When asked to create computer code, GPT-4 generated functional work 52% of the time in March and only 10% of the time in June. The lines of code it provided weren’t wrong, but they started to be accompanied by non-usable text, which could create headaches for companies trying to integrate ChatGPT into programming workflows.

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Additionally, the FTC is looking into ChatGPT. The commission seeks to understand whether OpenAI has broken any consumer protection laws. OpenAI received a 20-page demand letter highlighting the commission’s concerns over its data security practices. Microsoft’s Activision Blizzard is likely to be affected if OpenAI is found in the wrong.

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DAILY UPDATE: Deutsche Bank, YouTube Health Initiative and the Markets

Posted on July 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Regulators fined Deutsche Bank $186 million for not fixing anti-money laundering, due diligence, and sanctions controls. This is the third time since 2015 that the Federal Reserve has fined the troubled bank for internal control failures. (CNN Business)

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Under the YouTube Health Initiative, the company partnered with several healthcare organizations, including traditional health systems like Cleveland Clinic in Ohio and Mass General Brigham in Boston, as well as online health education platforms like Osmosis and Psych Hub. Other partners include the medical journal the New England Journal of Medicine, the World Health Organization, and the American Public Health Association.

These health organizations created videos on a range of health topics, which YouTube curates in what it calls “carousels” and labels to indicate that the information comes from reputable sources. If someone searches for information on diabetes, for example, they’ll get a carousel of videos from the health partners on diabetes.

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Here is where the major benchmarks ended yesterday and for the week:

  • The S&P 500 Index was up 1.47 points at 4,536.34, up 0.7% for the week and the benchmark’s eighth weekly gain in the past 10; the Dow Jones industrial average was up 2.51 points at 35,227.69, up 2.1% for the week; the NASDAQ Composite was down 30.50 points (0.2%) at 14,032.81, down 0.6% for the week.
  • The 10-year Treasury note yield (TNX) was down about 2 basis points at 3.837%.
  • CBOE’s Volatility Index (VIX) was down 0.39 at 13.60.

Utility and health care shares were among the strongest performers Friday, which may reflect investors rotating into more “defensive” sectors, which haven’t participated as much in this year’s rally and may be seen as a “relative value” or “catch-up” play.

Energy stocks were also strong as crude oil futures jumped over 2% and posted a fourth straight weekly gain. Regional banks and communication services were among the weakest sectors, while the small-cap-focused Russell 2000 (RUT) fell slightly.

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DAILY UPDATE: “No July SSI Checks for You”

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

Supplemental Security Income

By Staff Reporters

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Stocks popped 2% this week, as investors expect the Fed to soon pause or dial back interest rates after the release of the June inflation report. Central bankers have raised rates from zero to over 5% since March of last year, a move that led the S&P 500 to shed 20% in 2022.

And yet, No SSI for you!

DEFINITION: Supplemental Security Income (SSI) is a means-tested program that provides cash payments to disabled children, disabled adults, and individuals aged 65 or older who are citizens or nationals of the USA. SSI was created by the Social Security Amendments of 1972 and is incorporated in Title 16 of the Social Security Act The program is administered by the Social Security Administration (SSA) and began operations in 1974.

Individuals or their helpers may start the application for SSI benefits by completing a short form on SSA’s website. SSA staff will schedule an appointment for the individual or helper within 1–2 weeks and complete the process.

SSI was created to replace federal-state adult assistance programs that served the same purpose, but were administered by the state agencies and received criticism for lacking consistent eligibility criteria. The restructuring of these programs was intended to standardize the eligibility requirements and level of benefits. Although administered by SSA, SSI is funded from the U.S. Treasury general funds, not the SS Trust Fund. As of July 2022, the program provides benefits to approximately five million Americans.

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

The Social Security Administration gives, and the Social Security Administration takes away — at least when it comes to beneficiaries who qualify for Supplemental Security Income (SSI) payments.

July is one of the months when the agency doesn’t issue an SSI check. Because of a quirk in the payment schedule, SSI beneficiaries get two payments in March, June, September and December, while no payments are deposited in January, April, July and October.

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

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

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Evaluating the “Flipped Classroom”

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

What it is – How it Works?

[By Dr. David E. Marcinko MBA M.Ed]

DAVID EDWARD MARCINKO | “Leadership at the intersection of academic research, education and applied business execution”

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.

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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

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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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BUSTED: Bank of America as Inflation Cools?

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

By Staff Reporters

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BofA must refund $100 million to customers, pay $90 million in penalties to the Consumer Financial Protection Bureau and $60 million to the Office of the Comptroller of the Currency. “Bank of America wrongfully withheld credit card rewards, double-dipped on fees, and opened accounts without consent,” said CFPB Director Rohit Chopra, in a statement.

“These practices are illegal and undermine customer trust.”

Combined, it is one of the highest financial penalties in years against Bank of America, which has largely spent the last 15 years trying to clean up its reputation and market itself to the public as a bank focused on financial health and not on overdraft fee income and financial trickery.

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The latest reading ion core inflation indicates a notable cool-down in June but still exceeds the Federal Reserve’s inflation target of 2%.

Data just released exceeded the expectations of economists surveyed by Bloomberg, who expected inflation to have fallen to 3.1% in June. Inflation rose a modest 0.2% on a monthly basis, accelerating from a 0.1% increase in May. Despite the encouraging report, core inflation — which strips out volatile food and energy prices — rose 4.8%.

Food prices, meanwhile, continued to accelerate faster than overall inflation, rising 5.7% in June compared to a year ago. and, the price of flour rose about 12% in June compared to a year ago, roughly quadruple of the overall inflation rate; while the price of bakery products rose 9.5% over that period and the price of cookies rose nearly 9%.

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