As a former Dean and appointed Distinguished University Professor and Endowed Department Chair, Dr. David Edward Marcinko MBA was a NYSE broker and investment banker for a decade who was respected for his unique perspectives, balanced contrarian thinking and measured judgment to influence key decision makers in strategic education, health economics, finance, investing and public policy management.
Dr. Marcinko is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; as well as Oglethorpe University and Emory University in Georgia, the Atlanta Hospital & Medical Center; Kellogg-Keller Graduate School of Business and Management in Chicago, and the Aachen City University Hospital, Koln-Germany. He became one of the most innovative global thought leaders in medical business entrepreneurship today by leveraging and adding value with strategies to grow revenues and EBITDA while reducing non-essential expenditures and improving dated operational in-efficiencies.
Professor David Marcinko was a board certified surgical fellow, hospital medical staff President, public and population health advocate, and Chief Executive & Education Officer with more than 425 published papers; 5,150 op-ed pieces and over 135+ domestic / international presentations to his credit; including the top ten [10] biggest drug, DME and pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published academic text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].
Dr. David E. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner® who was named “Health Economist of the Year” in 2010. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics trade journals and publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News] etc.
Later, Dr. Marcinko was a vital recruited BOD member of several innovative companies like Physicians Nexus, First Global Financial Advisors and the Physician Services Group Inc; as well as mentor and coach for Deloitte-Touche and other start-up firms in Silicon Valley, CA.
As a state licensed life, P&C and health insurance agent; and dual SEC registered investment advisor and representative, Marcinko was Founding Dean of the fiduciary and niche focused CERTIFIED MEDICAL PLANNER® chartered professional designation education program; as well as Chief Editor of the three print format HEALTH DICTIONARY SERIES® and online Wiki Project.
Dr. David E. Marcinko’s professional memberships included: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA, FPA and HIMSS. He was a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.
Marcinko is “ex-officio” and R&D Scholar-on-Sabbatical for iMBA, Inc. who was recently appointed to the MedBlob® [military encrypted medical data warehouse and health information exchange] Advisory Board.
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By Rick Kahler CFP®
http://www.MedicalExecutivePost.com
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Filed under: Experts Invited, Investing, Research & Development | Tagged: business ownership, CEO, Rick Kahler CFP® | Leave a comment »
A BLACK MARKET PODCAST VIEW OF THE OPIOID CRISIS
Courtesy: www.CertifiedMedicalPlanner,org
Opioid Overdose Crisis
Every day, more than 130 people in the United States die after overdosing on opioids.1 The misuse of and addiction to opioids—including prescription pain relievers, heroin, and synthetic opioids such as fentanyl used to help relieve severe ongoing pain —is a serious national crisis that affects public health as well as social and economic welfare.
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The Podcast
And so, I was fascinated with this podcast because I often encountered narcotic seeking patients while in city center and urban practice. It was recorded by my neighbor and Austrian economist Peter Raymond over at “The Free Man Beyond the Wall” website.
Colleague Dr. Mark Thornton recently gave this talk at the Mises Institute Supporters Summit on the opioid crisis that is plaguing the US. Dr. Thornton lays out a short history of this tragic epidemic that is taking lives every day. He addresses how doctors prescribe these drugs, how government regulates them and explains what happens when people are forced into the “black market” to sustain their addiction.
PODCAST: http://freemanbeyondthewall.libsyn.com/episode-169-the-opioid-crisis
MORE: https://medicalexecutivepost.com/2019/08/22/the-opioid-crisis-rising-2000-2017/
MORE: https://medicalexecutivepost.com/2019/02/06/about-the-opioid-crisis/
Your thoughts are appreciated.
BUSINESS, FINANCE AND ECONOMICS TEXTBOOKS FOR DOCTORS:
THANK YOU
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Filed under: Drugs and Pharma, Ethics, Experts Invited, Videos | Tagged: Dr. Mark Thornton, Free Man Beyond the Wall, Mises Institute Supporters Summit, Peter Raymond | Leave a comment »
Please – Do Not Do This!
By Francisco Gutiérrez, MD., Lucio Leon, M.D. at: nejm.org
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Submitted for your consideration. Just In case you ever wondered what injecting 10 ml of elemental mercury would do to you?
Case report: A 21 yo woman attempted suicide by injecting 10 ml (135 g) of elemental mercury (quicksilver) intravenously.
Normal AP Chest X-Ray
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Case: She presented to the emergency room with tachypnea, a dry cough, and bloody sputum. While breathing room air, she had a partial pressure of oxygen of 86 mm Hg.
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Assessment
The patient was discharged after one week, with improvement in her pulmonary symptoms. Oral chelation therapy with dimercaprol was given for nine months. At follow-up at 10 months she was healthy, with no serious consequences. The abnormalities on the chest radiograph were still apparent.
Your thoughts are appreciated.
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Filed under: Career Development, Experts Invited, Risk Management | Tagged: mercury poisoning | Leave a comment »
“Money is supposed to be spent!” “Money is supposed to be saved!”
By Rick Kahler CFP®
We may not hear talk-show participants shouting these opposing views at each other with the same level of anger that characterizes some of our political rhetoric. Yet the core polarization that pervades so much of today’s society also shows up in people’s beliefs about money.
I saw this polarization recently in a conversation with a group of friends in Europe. The topic of money came up, as it usually does when people find out one of my specialties as a financial advisor is financial therapy. The thinking of my friends was that money is meant to be spent, not saved. They felt that people who saved money were faithless and greedy hoarders who by their saving threatened the economic system.
At the other extreme, I know other people who strongly believe a person’s first duty is to save and invest. According to them, those who don’t save as much as possible for emergencies and retirement are foolish, deluded, irresponsible, and destined to live out their last days in poverty.
My friends who embrace the money script that “money is to be spent, not saved” are likely to also hold a money script that “the universe will provide.” They tend to fall into a category we label Money Avoiders. Those who embrace the money scripts that “money is to be saved and not spent,” who also believe “one can never really have enough money,” are in the category of Money Worshipers.
Like most other forms of polarized thinking, neither of these extremes is right. Nor is either belief wrong.
Money does need to be spent. The health of our economic system depends on transactions. It’s important that money flows through the selling and buying of goods and services. When a significant number of consumers stop spending, economic activity grinds to a halt. We saw the effect of this in the financial crises of 2008. It’s also important to spend money to take care of ourselves and our families. Saving or investing money to a point that we go without adequate food, shelter, health care, or similar necessities is not healthy.
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Money also needs to be saved to provide a cushion against emergencies and to provide for our needs in retirement. My European friends enjoy a higher certainty of adequate income in retirement. For them, this is the universe providing, a strong government security net. However, those that live in many Asian countries are assured very little, if anything, in the way of retirement income. For them, the universe comes up short and depends upon the generosity of family to provide. Saving in an Asian culture is therefore much more important than if you live in a Scandinavian country.
Saving and investing for retirement is important for those of us in the US, as well. Without it, we face two dubious prospects: we can depend on family to provide or we can eke out a meager living on a Social Security payment of around $2,000 a month in retirement.
Those who are not polarized around money understand that both spending and saving are important for financial health. They can balance their spending and saving, applying both when necessary in their own lives.
Assessment
Ideally, from this balanced middle ground, someone can also see past the limitations of others who are polarized. Those who believe “Money is meant to be spent” or “Money is meant to be saved” have a world view that results in such an extreme position. Labeling them as “wrong” is not a useful way to try to shift anyone’s polarized beliefs.
Conclusion: Your thoughts are appreciated.
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Filed under: Experts Invited, Investing | Tagged: Prioriting Money Beliefs, Rick Kahler CFP | Leave a comment »
Taxes for All?
[By Rick Kakler CFP®]
As the recent debates among the Democratic presidential candidates emphasized, the idea of government-managed health care is gaining popularity. “Medicare for all” or some form of “free” universal health care is certainly an appealing idea. Who among us wouldn’t appreciate someone else paying our medical bills?
I certainly would. My family’s personal health care costs, including premiums and out-of-pocket expenses, run just over $3,000 a month. If my health care were free, I could find a lot of uses for the savings.
But my skeptical side, and probably yours as well, knows that there is no such thing as a free medical procedure. Someone, by some means, has to pay for insurance coverage, doctor visits, hospitalizations, and other medical costs.
The tax tab for providing “Medicare for all,” as envisioned by Sen. Bernie Sanders, is $3 trillion a year, according to several analysts. Currently, the cost for Medicare is about one-sixth that amount, or $583 billion a year.
Sanders and other presidential candidates tell us the wealthy will pay this tab. The reality is that when we look at other countries that have similar universal health care plans, it isn’t just the wealthy that are paying for it.
Raising the more than $3 trillion needed annually to fund “Medicare for all” would require doubling all personal and corporate income taxes or tripling payroll taxes. This analysis comes from Marc Goldwein, a senior vice president at the non-partisan Committee for a Responsible Federal Budget. He was cited in a May 9, 2019, Bloomberg article by Laura Davison, “Tax hikes on wealthy alone can’t pay for Medicare for all plan.” “There is a lot of money out there, but there isn’t $30 trillion [over 10 years] sitting around from high earners,” Goldwein said. “It just doesn’t exist.”
I did a little investigating of the tax rates of European countries that have universal health care and found Goldwein’s statement to be true. For example, Denmark taxes income over $7,000, with rates starting at 40%. The US rate starts at 10%. This would indicate a doubling or tripling of income taxes or payroll taxes on the lowest earners is not a politically-skewed scare tactic, but an economic reality.
The top rate in Denmark is 56%, while the top rate in the US is 50% (37% federal and 13% state). This is just one of many examples I found in my searching that strongly indicate other countries that have universal health care haven’t found much room left to tax the wealthy. Based on their experience, the majority of the cost will need to come from lower income earners.
Sadly, this message is not being disseminated to voters by proponents of universal health care. While I am not advocating for or against universal health care here, I am advocating for full disclosure and transparency.
A topic as significant as this deserves a great deal of discussion based on clear, complete disclosure of facts and educated analysis. It requires the best available answers to questions like who will be covered, what will be covered, how much the program will cost, and who will pay for it.
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Assessment
Raising six times what we are currently spending for Medicare would be a huge task. Transferring one-eighth of the US economy from the private sector pocket to the public sector one would not be easy or painless. Making the transition to some form of tax-funded universal health care would be a major shift in direction for this country that would have a significant impact on all Americans. It is not a decision to make based on inadequate information, political rhetoric, or unreasonably optimistic assumptions.
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Foreword by Jason Dyken MD MBA
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Filed under: Experts Invited, Health Insurance, Health Law & Policy | Tagged: medicare, Medicare for All, Rick Kahler CFP | Leave a comment »
Welcome Financial Advisors: An Invitation to Prospect & Promote Your Self
Healthcare Prospecting with FAs in Mind
If so …
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SAMPLE PODCAST
In this encore podcast, Somnath Basu PhD MBA examines how the recent economic turmoil has changed financial planning clients’ attitudes and expectations.
White Paper: AgeBander
Dr. Basu is a popular ME-P contributor, commentator and “thought-leader”.
Basu Video Link: http://www.youtube.com/watch?v=jzAkB8h5v3Q
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Filed under: Experts Invited, Financial Planning, Marketing & Advertising, Videos | Tagged: financial advisor videos, financial planning podcasts, www.certifiedmedicalplanner.com, www.medicalbusinessadvisors.com, www.MedicalExecutivePost.com | 2 Comments »
Professor Marcinko Appointed to Medblob Advisory Board
By Richard S. Tannenbaum; MS
[Co-Founder and Chief Financial Officer]
At Medblob, we manage healthcare data for patients, providers, and research organizations. Our leadership team is from multi-disciplinary back grounds, including medicine, software and research. And, our advisors have broad experience and training in clinical medicine, insurance and healthcare information technology companies.
So, we are pleased to announce that Dr. David Edward Marcinko MBA CMP® has just been appointed to the Advisory Board of our company.
About Medblob™
The Challenge:
One of the biggest challenges for providers is having all of the patient’s medical information, at the point of care.
The Solution:
Medblob™ is an emerging and secure military encrypted and HIPAA compliant health information exchange and data warehouse, known as HealthFile™, that aims to have medical information available at the point-of-care so clinicians are able to make better decisions to improve their patients’ health.
The Outcome:
MedBlob™ solves a major cause of medical errors and preventable death: inaccurate or missing health information.
Assessment
Member of Medblob’s Advisory Board composed of medical, legal, and financial experts assisting the management team in the company’s mission of improving public health and outcomes for patients. Medblob Advisory Board was chartered to provide advice to the executive team regarding the company’s strategy, development, market positioning, and growth trajectory. LifeBook is Medblob’s military-grade secure patient electronic health record that acts as a single source of truth health record, medical data platform, and Network as a Service (NaaS).
Board of Advisors Link: http://www.medblob.com/board-of-advisors/
More: Please contact us to get involved in the future of healthcare information technology!
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Filed under: Experts Invited, Information Technology | Tagged: david marcinko, HealthFile™, Medblob, Richard Tannenbaum | Leave a comment »
A chest radiograph showed that the mercury was distributed in the lungs in a vascular pattern that was more pronounced at the bases.
