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By Health Capital Consultants, LLC
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Is the Return of Physician-Owned Hospitals Imminent?
Recent congressional actions and a white paper authored by officials from the Department of Justice (DOJ), Federal Trade Commission (FTC), and the American Medical Association (AMA) are pushing for the removal of barriers for physician-owned hospitals (POHs), potentially paving a path by which these controversial facilities can be established and expanded going forward. (Read more…)
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: "Doctors Only", Career Development, Experts Invited, Health Economics, Health Insurance, Healthcare Finance | Tagged: Health Capital Consultants LLC, hospitals, physician owned hospitals, return physician owned hospitals | Leave a comment »
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By Staff Reporters
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“Dr. Doom” warned in a column this week that the US face a major financial crisis and the economy is entering what he calls a “doom loop”.
In an op-ed for Project Syndicate on Thursday, Roubini forecasted a coming cycle of economic pain, as the US struggling under both high inflation and high debt burdens. Those issues perpetuate each other, he said, warning of a recession and impending financial crisis that would only get worse the longer it dragged on.
CITE: https://www.r2library.com/Resource
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During an appearance on “Fox & Friends Weekend,” Breitbart economics editor John Carney warned that the dollar’s feeble valuation could be a “serious threat” to the U.S.’s crucial influence on the world stage.
“”[It’s] not only a serious threat, I think it is inevitable. We went through three stages, as you said, after World War II. The U.S. was the biggest economy in the world. In the 1970s, global banking became basically dollar central. With the fall of the Soviet Union, the entire world, more or less, came under the domination of the U.S dollar…”
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, Funding Basics, Investing, Op-Editorials, Touring with Marcinko | Tagged: Breitbart, david marcinko, doom loop, Fox & Friends, John Carney, Marcinko, Nouriel Roubini, project syndicate, recession, Roubini | Leave a comment »
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Filed under: "Advisors Only", "Ask-an-Advisor", "Doctors Only", Book Reviews, Career Development, CMP Program, Ethics, Experts Invited, Financial Planning, Health Insurance, Healthcare Finance, iMBA, Inc., Investing, Practice Management, Practice Worth, Recommended Books, Risk Management | Tagged: Ann Miller RN MHA, Certified Medical Planner™, CMP, david marcinko, David Marcinko MBA, Financial Planning, IInstitute of Medical Business Advisors, iMBA, Investing, ME-P, Medical Executve-Post | Leave a comment »
WORKPLACE MEDICAL VIOLENCE
By Staff Reporters
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Workplace safety is no joke. Slips and trips can lead to a hospital visit—though at least it’s a quick commute for healthcare workers in states with high rates of workplace injuries. In fact, Maine, Oregon, and Vermont had the highest rates of nonfatal workplace accidents and injuries, according to an analysis shared with Healthcare Brew via email of 2021 US Bureau of Labor Statistics data compiled by High Rise Financial, a pre-settlement legal funding company.
What do these states also have in common? According to HealthcareBrew, nursing, ranked within the top 10 most popular professions in each state.
Maine had the highest rate of workplace accidents: 4.7 out of every 100 full-time workers in the state were involved in a nonfatal workplace accident in 2021, High Rise Financial found. That is 67.9% higher than the country’s yearly average. In 2021, 30,270 of the 592,000 registered employees in Maine were home healthcare workers or registered nurses. MaineHealth was the state’s largest private employer in 2021 with approximately 20,500 employees, per the Maine Center for Workforce Research and Information. But the state’s high accident rate isn’t a failure—it suggests that Maine workers are reporting accidents and injuries before they become more serious and require workers’ compensation, Maine Public Radio reported. The most recent data from 2011 shows that workers’ compensation losses cost hospitals nationwide $2 billion, the Occupational Safety and Health Administration found.
CITE: https://www.r2library.com/Resource/Title/082610254
If tedious workplace safety rules sound like a pain, try having an accident. “Slips, trips, and falls,” especially without a wet floor warning sign, are the top causes of workplace accidents that are eligible for pre-settlement funding, according to the High Rise Financial analysis. Even a small slip could lead to a back injury, a broken bone, or a concussion—no banana peel needed.
It’s not all doom and gloom: The CDC has generously curated a list of songs with workplace safety and health themes to liven up your nine-to-five. Just be sure to wear nonslip shoes if you feel like dancing.
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Workplace Violence: https://medicalexecutivepost.com/2022/12/08/medical-workplace-violence-prevention-guidelines/
Related: https://medicalexecutivepost.com/2022/09/23/assessment-of-workplace-violence-in-healthcare/
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Filed under: "Advisors Only", "Doctors Only", Ethics, Experts Invited, Glossary Terms, Health Economics, Health Insurance, Industry Indignation Index, Insurance Matters, Risk Management | Tagged: CDC, falls, Healthcare Brew, High Rise Financial, safety, slip, slips trips falls, trips, USBLS, violence, workplace, workplace safety, workplace violence | Leave a comment »
By Staff Reporters
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April Fools’ Day—occurring on April 1 each year—has been celebrated for several centuries by different cultures, though its exact origins remain a mystery. April Fools’ Day traditions include playing hoaxes or practical jokes on others, often yelling “April Fools!” at the end to clue in the subject of the April Fools’ Day prank. While its exact history is shrouded in mystery, the embrace of April Fools’ Day jokes by the media and major brands has ensured the unofficial holiday’s long life.
CITE: https://www.r2library.com/Resource/Title/082610254
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Investors celebrated a lower-than-expected reading on the Federal Reserve’s preferred inflation gauge by driving major U.S. stock indexes higher Friday, the last trading day of the first quarter. Sentiment got a boost after reports that the personal consumption expenditures (PCE) index rose 0.3% in February, a little below the 0.4% economists were expecting, and 5% from the same month a year ago. Core PCE inflation, which excludes volatile food and inflation prices, was also up 0.3% from the previous month and 4.6% from a year earlier. PCE and core PCE both rose 0.6% in January from the month before.
Despite wild fluctuation due to continuous rate hikes from the Fed and an unexpected bank panic, stocks and bonds managed to turn in a pretty, pretty, pretty good performance for the quarter. The S&P 500 gained 7%, and the Dow Jones Industrial Average gained 0.4%.
But, tech companies were indisputably the market leaders.
Wall Street rewarded tech companies’ layoffs and other cost cutting measures, giving tech stocks a resurgence. And with ChatGPT becoming a household name, investors have their money on generative AI as the next big bet. As of last night:
Bitcoin surged 72%.
Bank stocks were a delight for short sellers, who made $2 billion betting against the sector in the past three months.
“The 0.3% monthly increase in core PCE was a step in the right direction but suggests the path to 2% inflation will still likely be long and bumpy,” says Collin Martin, a fixed income strategist at the Schwab Center for Financial Research.
Here’s how the major indexes performed Friday.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Experts Invited, Information Technology, Investing, LifeStyle | Tagged: April, April Fool's Day, CBOE, ChatGPT, Collin Martin, DJIA, DOW, fed, Financial Times, FOMC, fool, NASDAQ, PCE, S&P 500, Schwab, Volatility Index | Leave a comment »
By Health Capital Consultants, LLC
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Medicare Advantage (MA) plans, also known as Part C plans, serve as a supplement or an alternative to Original (also called Traditional) fee-for-service (FFS) Medicare Part A and Part B coverage, but they are still part of the Medicare program.
CITE: https://www.r2library.com/Resource/Title/082610254
Most of these plans also include Part D (drug) coverage. MA was created by Congress to offer seniors an alternative to Original Medicare – with an emphasis on treating and managing the health of the whole patient. MA plans are offered to Medicare beneficiaries by Medicare-approved private companies, known as MA Organizations (MAOs), that must follow rules set by Medicare. (Read more…)
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Filed under: "Ask-an-Advisor", Drugs and Pharma, Ethics, Experts Invited, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Managed Care, Risk Management | Tagged: drug insurance, Health Capital Consultants, hospital insurance, medcare advantage, medical insurance, medicare, Medicare A, Medicare B, Medicare D, Medicare Part C | Leave a comment »
By Staff Reporters
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Analysts at Morgan Stanley downgraded Charles Schwab Corp (NYSE: SCHW) on Tuesday, citing concerns over cash sorting and regulatory changes. But, Schwab CEO Walt Bettinger recently said that the company’s banking unit had enough liquidity to cover if 100% of its bank deposits ran off without having to sell a single security — Morgan Stanley says otherwise. Schwab’s recent performance has not been up to Morgan Stanley’s expectations, with customers moving cash out of sweep accounts into money market funds at a rate twice that which the bank had been modeling.
CITE: https://www.r2library.com/Resource/Title/082610254
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Here’s how the major indexes performed Thursday.
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Filed under: "Ask-an-Advisor", Breaking News, Ethics, Experts Invited, Financial Planning, Funding Basics, iMBA, Inc., Insurance Matters, Investing, Op-Editorials, Risk Management | Tagged: CBOE, Charles Schwab, DJIA, DOW, major market indices, Morgan Stanley, NASDAQ, S&P 500, Schwab, Treasury Yield, Volatility Index, Walt Bettinger | Leave a comment »
USUALLY NOT PRIVATE INSURERS!
By Eric Bricker MD
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Filed under: "Doctors Only", Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Risk Management, Videos | Tagged: Eric Bricker MD, hospital finance, hospital teamwork, hospitals, medical insurance, medicare, medicare patients, Private Insurance, private medical insurance | Leave a comment »
By Staff Reporters
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CVS expects to finalize its $8 billion acquisition of Signify Health this week, the retail pharmacy giant said yesterday. CVS beat out both Amazon and UnitedHealth Group to buy Signify, a value-based provider network. The company announced the deal last September, and executives said they expect it to close “on or around March 29th.”
In a phone call following the deal announcement, Shawn Guertin, EVP and CFO at CVS, said the company anticipates that acquiring Signify will “generate attractive returns” for CVS. The acquisition strengthens CVS’s goal of becoming a value-based healthcare company and could give it a leg up over rival Walgreens. Both companies have doubled down on value-based care in the last couple of years, making several multi-billion dollar deals, such as Walgreens’s $5.2 billion VillageMD acquisition in 2021 and CVS’s $10.6 billion takeover of Oak Street Health.
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The U.S. Food and Drug Administration has approved NARCAN, an overdose-reversing nasal spray, for over-the-counter, non-prescription sale, the agency just announced. The FDA green light marks the first naloxone product approved for use without a prescription. Naloxone rapidly reverses the effects of an opioid overdose, including situations where fentanyl is involved. In the 12-month period ending in October 2022, the United States recorded 101,750 overdose deaths, primarily from opioids including fentanyl, according to the FDA.
“Today’s action paves the way for the life-saving medication to reverse an opioid overdose to be sold directly to consumers in places like drug stores, convenience stores, grocery stores and gas stations, as well as online,” the agency said in a news release.
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Here’s how the major indexes performed yesterday:
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Alternative Investments, Career Development, Drugs and Pharma, Ethics, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Investing, Managed Care, Practice Management | Tagged: Amazon, CBOE, CVs, DJIA, DOW, FDA, naloxone, narcan, NASDAQ, S&P 500, Shawn Guertin, Signify Health, Treasury yields, UHC, UnitedHealthcare, Walgreen's | Leave a comment »
The R.O.A.D. to Happiness?
By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: "Doctors Only", Accounting, Career Development, Ethics, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Investing, Op-Editorials, Taxation | Tagged: anesthesiology, dermatology, doctor specialties, Eric Bricker MD, orthopedics, physician specialities, physician specialty, radiology, ROAD, speciality rankings | Leave a comment »
S.R.I.
[By Rick Kahler CFP®]
The concept of socially responsible investing is far from new; the first SRI fund appeared in 1952. Since then, these funds have used social and ethical screens to exclude companies selling products like tobacco, alcohol, or firearms.
You may not have heard of the next generation of SRI funds, called ESG funds, which means environmental, social and governance funds. Social responsibility is just one-third of the expanded focus of these funds, which also look to include companies that are sensitive to the environment and have more holistic corporate governance.
Updates
In recent years, ESG investing has exploded. According to a July 11, 2018, article in Forbes, The Remarkable Rise of ESG, by Georg Kell, over $20 trillion is invested in ESG funds. This accounts for 25% of all the professionally managed assets in the world. There are currently 275 ESG mutual funds and ETF’s from which to choose.
Yet one facet of investing in ESG funds is widely misunderstood. While ESG investing may help you feel better about yourself, it does not actually impact or hamper the companies you choose not to own.
This may come as a surprise to many ESG investors, who commonly believe that by not owning the shares of an offensive company they are restricting the flow of capital to that company, thereby imperiling its existence. For the most part, that isn’t the case.
The offenders
Listed among the worst offending companies by several ESG organizations are Philip Morris, WalMart, Tyson Foods, Pepsi Corporation, Coca-Cola, and Chevron. No dedicated ESG investors would have these companies in their portfolios. None of these companies would care or be hurt in the least if you didn’t own any of their shares.
Why?
The only time a company benefits from a sale of stock is when the company initially goes public (called an initial public offering, or IPO) or issues additional new shares to raise capital. These are actually fairly rare events.
Most stocks are bought and sold in the “secondary” market through exchanges like the New York Stock Exchange. These platforms facilitate transactions between individuals or institutions wanting to buy or sell shares in a company. The money moves between the buyer and the seller; none of the money goes to the company.
Another way companies receive funding to support their ventures is to borrow money from investors. This is called issuing a bond and is similar to an IPO, only the investor receives a promise from the company to pay them back at some future date and receives interest on the loan in the meantime.
Just like stocks, bonds are only issued by a company once. From then on, buying and selling bonds is done on the open market, and none of the money paid or received goes to the company.
So if you want to punish a company, don’t buy stocks or bonds it issues directly. Otherwise, excluding its shares from your portfolio has no effect on the company’s profits or cash flow.
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Assessment
But if no one bought a company’s shares on the secondary market, wouldn’t that have an impact? Yes, it most certainly would. If the demand for the shares of a company dried up, the company’s stock price would plummet.
The problem is the demand for the shares of these companies isn’t going away as long as they remain profitable. If 25% of investors purchase ESG funds, that leaves 75% of the market willing to buy these companies. This includes the 20% of stocks owned by passive index funds, which own the entire market.
CONCLUSION
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DOCTORS:
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By Eric Bricker MD
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Filed under: "Doctors Only", Alerts Sign-Up, Career Development, Experts Invited, Glossary Terms, Health Insurance, Health Law & Policy, Healthcare Finance, Interviews, Risk Management, Videos | Tagged: Eric Bricker MD, Health Insurance, healthcarecosts, insurance benefits consultants, insurance beneftis fees, insurance brokerages, insurance brokers, insurance over rides, PBMs | Leave a comment »
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| Over the past decade, the Federal Reserve has manipulated asset prices by interfering with free markets by deciding what both short-term and long-term interest rates should be. This resulted in an increase in risk-taking behavior among investors. CITE: https://www.r2library.com/Resource/Title/08 Risk became a four-letter word uttered only by curmudgeons; the only thing investors feared was being left out. The more risk you took, the more money you made – until you lost it all. RISK: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989 |
READ: Silicon Valley Bank’s Downfall: A Cautionary Tale of What’s to Come
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Filed under: "Ask-an-Advisor", Alternative Investments, Events-Planner, Experts Invited, Interviews, Investing, LifeStyle, Risk Management | Tagged: By Vitaliy Katsenelson CFA, Federal Reserve, FOMC, risk, Silicon Valley Bank, SVB, Vitaliy Katsenelson CFA, Vitaliy N. Katsenelson CFA | Leave a comment »
By Staff Reporters
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Short seller Hindenburg Research has hit another billionaire’s fortune with a report. Jack Dorsey, the co-founder of payments company Block and Twitter, saw his net worth tumble by $526 million, or 11%, to $4.4 billion after the US-based research firm led by Nathan Anderson accused Block of misleading investors in a March 23 report, according to Bloomberg. Dorsey isn’t on the list of the world’s 500 richest persons on the Bloomberg Billionaires Index currently. He was previously featured at number 456 with a net worth of $5.41 billion on March 22nd, per Insider’s scan of the Index on Wednesday.
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Investors sparked a furious selloff in Deutsche Bank AG and thrust one of Europe’s most important lenders into the center of concerns about the health of the global financial system. Shares of Germany’s largest lender tumbled as much as 15%, their third consecutive day of losses, though they later regained some ground and were recently down 10%. The cost to insure against its default using credit-default swaps soared to their highest levels since 2020.
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Chairman Jerome Powell was ambiguous this week about future Federal Reserve moves, suggesting “some additional policy firming may be needed.”
Treasury yields dropped near seven-month lows, a seeming indication of escalating recession worries after the Fed raised its benchmark lending rate nine times to a range of 4.75% to 5% over the past year. The release next week of updated data on consumer confidence, inflation, and economic growth will likely be in focus.
Monetary Policy: https://medicalexecutivepost.com/2023/03/17/the-modern-us-monetary-system/
The swings in stock prices this week “were consistent with the unclear outlook for monetary policy, the banking system, and the broader economy,” says Kevin Gordon, senior investment strategist at Charles Schwab. “More time needs to pass before we know the true impact of the expected tightening in credit conditions.”
The real estate sector led the gainers Friday, followed by consumer staples and health care. Financials and consumer discretionary stocks edged lower, and technology stocks were little changed, though the tech-focused NASDAQ Composite still notched its second straight weekly gain. Gold and crude oil futures both declined, while the U.S. dollar strengthened.
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Filed under: "Ask-an-Advisor", Experts Invited, Investing | Tagged: Block, Bloomberg, CBOE, Deutsche Bank, DJIA, DOW, European stocks, Hindenburg, Jack Dorsey, Jerome Powell, Kevin Gordon, monetary policy, moneyary policy, NASDAQ, real estate, S&P 500, Schwab, Treasury yields, twitter | Leave a comment »
By Staff Reporters
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Moderna – which received about $10 billion in taxpayer money to produce its COVID-19 vaccine and has since earned billions more in profits selling it – was sued in early 2022 by Genevant Sciences and Arbutus Biopharma Corp., which accused Moderna of using technology they have patented in its vaccine. The two companies have asked a federal court in Delaware to award them damages for the infringement.
CITE: https://www.r2library.com/Resource/Title/0826102549
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Alex Coffey, senior trading strategist at TD Ameritrade, said recent turmoil in the banking industry has effectively tightened credit conditions, possibly making further rate increases by the Fed unnecessary. Still, the Fed had to send a message that it’s not making an abrupt shift in its efforts to bring inflation down. The Fed has been in “cruise control” raising rates, “staying in the fast lane,” Alex says. “Now, it has turned off cruise and maybe changed lanes, but isn’t doing a quick move toward the off ramp. Today’s increase was not a ‘dovish’ hike, but also not the hawkish stance that was feared.”
“We’re near the end of the tightening cycle,” he adds. “But they have to do this slowly.”
The Fed commentary appeared to briefly soothe the market, causing the S&P 500® Index to rise as much as 1% soon after the central bank’s announcement, but the benchmark changed direction in the last hour of trading. The reversal may have in part been in response to the ambiguity of Powell’s words, as well as continuing concern about a potential recession.
And so, the following is a round-up of today’s domestic market activity:
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By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/0826102549
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By Staff Reporters
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According to HealthcareBrew, thousands of doctors are expected to reach retirement age in the next three years, and their replacements won’t be physicians. Instead, physician assistants (PAs) and nurse practitioners (NPs) will increasingly provide primary care services, according to a report from consulting firm Mercer.
By 2026, 21% of family medicine, pediatric, and obstetrics and gynecology physicians—or about 32,000 doctors—will be 65 or older, and Mercer anticipates about 23,000 physicians will leave the profession permanently. At the same time, demand for primary care physicians is expected to grow 4%, the report found.
PAs and NPs—also called advanced practice providers (APPs) or physician extenders—are highly trained medical professionals. To become a PA, you have to have both a bachelor’s and a master’s, some clinical work experience, pass the Physician Assistant National Certifying Exam, and then apply to get licensed in your state (you know, easy peasy). It takes seven to nine years to go through that process, compared to 11+ years to become an MD.
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To become an NP, you must have both a bachelor’s and a master’s in nursing, become a registered nurse, and pass a national NP board certification exam. It takes between six to eight years to become an NP.
Compared to physicians, PAs and NPs are “considerably younger professions with less than half the retirement risk,” the Mercer report stated. Roughly 40,000 PAs and NPs join the workforce annually.
“We’re certainly going to see increasing demand for APPs,” David Mitchell, a partner in Mercer’s career consulting business and a specialist in the healthcare industry, told Healthcare Brew.
While most state licensing boards require a physician to oversee APPs, both PAs and NPs have the authority to do many services primary care physicians do, like seeing and diagnosing patients, ordering lab tests, and writing prescriptions, said Mitchell.
MORE: https://www.aamc.org/data-reports/data/2022-physician-specialty-data-report-executive-summary
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This is a review of a white paper by Longitude Research that talks about Cyber-Risks in Banking.
It is perfect for Modernity!
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Cyber security is a complex and multifaceted challenge that is growing in importance.
https://www.r2library.com/Resource/Title/0826102549
Conclusion
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By Staff Reporters
Blue Cross Blue Shield has deployed several trackers on its website, according to the web extension Ghostery, a tool that can tell you what kind of technology web pages are using.
Though we don’t know specifically what kind of data is being transferred, these pixels are usually installed to help marketing departments. Tracking pixels, for the uninitiated, are hidden or embedded graphics that can give a more complete picture of a customer’s journey: what they’ve clicked on, if they’ve searched for something specific, if they’ve put something in a shopping cart, or whether an advertisement drove them to, say, Blue Cross Blue Shield’s homepage. For example, if an insurer wants to show that its ads are working, it can use a pixel to determine that it was their ad that got someone to finally sign up for health insurance, not Susan in HR.
CITE: https://www.r2library.com/Resource/Title/082610254
Trackers are ubiquitous, but experts and consumers have raised serious questions about the data that’s shared between companies. For example, investigative reporting outlet The Markup found that hospitals shared sensitive information with Facebook through the Meta pixel. And just this month, Indianapolis-based Community Health Network reported that pixels may have affected 1.5 million of its patients.
For more, read Marketing Brew’s interview with sociologist Mary F.E. Ebeling, who wrote a book about the collection of sensitive health data.
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By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/0826102549
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By Bertalan Meskó, MD PhD
The Medical Futurist
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READ HERE: https://tinyurl.com/2hat4fun
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By Staff Reporters
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Saudi Aramco made what is s probably the “highest net income ever recorded in the corporate world,” Saudi Aramco’s CEO Amin Nasser just said. The state-owned oil giant brought in an astonishing $161.1 billion in net income in 2022, up 46.5% from the previous year. Rising oil prices lifted all energy companies last year, but Aramco raked in almost triple ExxonMobil’s 2022 profits (record for any Western oil company).
So, after getting mixed signals about the economy from Friday’s jobs report, the Fed will take a fine-toothed comb to the consumer price index, which drops tomorrow.
CITE: https://www.r2library.com/Resource/Title/082610254
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Banks: At the end of an extremely stressful weekend, depositors of collapsed Silicon Valley Bank were told they would be made whole. Yesterday evening, the US government informed anxious SVB depositors that they’d have access to all the money they stashed with the lender today, even if the amount exceeded the $250,000 limit insured by the FDIC. In addition to backstopping depositors, the Fed is offering additional funding to some banks to limit the contagion from spreading across the banking sector.
And, according to MorningBrew, the Fed’s aggressive action shows how the implosion of Silicon Valley Bank on Friday could have quickly turned into a full-blown banking crisis when markets open this morning.
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ALERT: HSBC Holdings PLC just said that it purchased Silicon Valley Bank UK Ltd., the U.K. arm of the collapsed Silicon Valley Bank, for 1 pound ($1.20). HSBC said the acquisition will help strengthen its franchise in the U.K. As of March 10th, SVBUK had loans of around GBP5.5 billion and deposits of around GBP6.7 billion, while tangible equity is expected to be around GBP1.4 billion. The acquisition was completed immediately.
The Bank of England said it took the decision to sell SVBUK to stabilize the business, ensure continuity of banking services, minimize disruption to the country’s technology sector and support confidence in the financial system.
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Filed under: Breaking News, Ethics, Experts Invited, Glossary Terms, Investing, LifeStyle | Tagged: banks, CPI, crude oil, fed, FOMC, HSBC, inflation, inflation Saudi Aramco, MorningBrew, oil, Signature Bank, Silicon Valley Bank, SVB | Leave a comment »
Valuation of Internal Medicine Services: Reimbursement
BY HEALTH CAPITAL CONSULTANTS, LLC
As noted in the first installment of this five-part series, internal medicine is the largest specialty among physicians and an understanding of the various environments in which these physicians operate is crucial in determining their numerous value drivers.
In particular, healthcare reimbursement, the process by which private health insurers and government agencies pay for the services of healthcare providers (including internists), is perhaps one of the most important environments to understand, as it comprises a provider’s expectation of future return on investment.
CITE: https://www.r2library.com/Resource/Title/0826102549
This installment will discuss the reimbursement of internal medicine services. (Read more…)
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By Staff Reporters
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The online health insurance marketplace for members of Congress and Washington, D.C., residents was subjected to a hack that compromised the personal identifying information of potentially thousands of lawmakers, their spouses, dependents and employees, according to a letter from House leaders informing their colleagues about the breach and a memo from the Senate’s top security official.
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Today the U.S. Bureau of Labor Statistics (US-BLS) will report the number of jobs the U.S. economy added in February as well as other pertinent information surrounding the labor market. Officials at the Fed and investors have been watching the labor market very carefully, which has been red hot with the unemployment rate in January remaining near historic lows at 3.4%. Fed officials believe the tight labor market is empowering consumers to spend through rising consumer prices, which has made inflation sticky. Fed Chairman Jerome Powell has said previously the Fed would like to see some deterioration in the labor market to know that it’s winning its war with inflation.
CITE: https://www.r2library.com/Resource/Title/0826102549
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U.S. stocks declined to close out a choppy trading session, adding to weekly losses that followed this week’s hawkish Congressional testimony from Fed Chairman Jerome Powell. A larger-than-expected increase in weekly initial jobless claims seemed to offer a modest reprieve from the concerns about how aggressive the Fed may be.
The Financial sector saw pressure, as SVB Financial plummeted after selling securities for a loss, and Silvergate Capital dropped after announcing that it would shut down its bank operations and liquidate. As a result of the turmoil in the sector, the shares of numerous banks declined. In other equity news, Dow member American Express increased its share buyback plan and raised its dividend, while GE rallied as the Street cheered its long-term outlook.
Treasury yields were mostly lower with short-term rates giving back recent gains, and the yield curve steepened somewhat after inverting further on Powell’s testimony.
The U.S. dollar relinquished some of this week’s rally, while crude oil prices were lower, and gold traded to the upside.
Asian stocks finished mixed following some cooler-than-expected Chinese inflation reports, and Europe ended mostly lower, as the global markets continued to react to Fed Chair Powell’s comments.
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By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/0826102549
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MEDICAL NECESSITY
By Eric Bricker MD
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CITE: https://www.r2library.com/Resource/Title/082610254
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By Staff Reporters
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Shares of cryptocurrency bank Silvergate Capital plummeted 57% last week after the company delayed its annual financial report and warned investors that it may not survive the recent “crypto winter.” In a filing with the Securities and Exchange Commission, Silvergate said it is “analyzing certain regulatory and other inquiries and investigations that are pending.”
CITE: https://www.r2library.com/Resource/Title/0826102549
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Electric vehicle company Tesla unveiled its latest “master plan” at its highly anticipated analyst and investor meeting but Tesla shares dropped 5.9% amid criticism from analysts that the presentation by CEO Elon Musk lacked clarity and details. Musk reiterated Tesla’s goal of increasing its annual EV production from 1.3 million vehicles in 2022 to 20 million by 2030.
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Chip designer shuns London to list in NYC: UK-based Arm—a company whose tech is inside almost every smartphone—used to be listed in London before being taken private by Softbank. Yesterday it said it’s planning an IPO in New York. The British government has been trying to woo the company to relist in London, and Arm said it wasn’t ruling out a future London IPO. But it’s a big loss for London for now, and it heightens concerns that the UK market is not competitive internationally. Investment bankers are pegging the company’s valuation between $30 billion and $70 billion, per Bloomberg.
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By Bertalan Mesko MD PhD
The Medical Futurist
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Pictures, text prompts, documents and health metrics are just a few examples of data we’re giving away to different AI applications and thus, to different companies/organizations.
What happens to this data? Who owns the various outputs generated by us and/or algorithms? We dig into this topic and were not feeling at ease by the end of the trip.
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Virtual-first, health equity and more
By Bill Siwicki
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A greater focus on care coordination and further embrace of tele-medicine by payers will also be hallmarks this year, says one virtual care expert.
READ: https://www.healthcareitnews.com/news/telehealth-trends-2023-virtual-first-health-equity-and-more
CITE: https://www.r2library.com/Resource/Title/082610254
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By Staff Reporters
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According to Bloomberg, former Treasury Secretary Lawrence Summers said worrying signals of a potential sharp drop-off in activity combined with strength in other indicators point toward an uncertain economic outlook.
Here is Why:
Inventories “look to be building up relative to sales.”Companies are “reporting concerns about their order books.”The business sector appears to have a high payroll head-count relative to “the level of output they’re producing.”“Consumer savings are being depleted, with a low savings rate.” And, “there is stuff when you look down the road a bit that has to be substantially concerning about the Wile E. Coyote kind of moment,” reiterating his reference to the cartoon character that falls off a cliff.
Federal Reserve policymakers will need to “stay nimble and flexible” given the uncertainty, Summers said. The central bank should “resist the pressure to be giving strong signals about what it’s going to do next.”
Finally, the former Treasury chief also reiterated the lack of past examples in which the US managed to avoid a recession when the unemployment rate dropped below 4% and inflation went above 4%. “That’s a powerful historical truth and I think it’s one that’s relevant to our current situation.”
The latest unemployment-rate reading was 3.4%, while the consumer price index climbed 6.4% in January on a year-on-year basis.
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Stocks Fell Following Hot Inflation Report and U.S. equities ended the day and week lower as the markets reacted to a Fed-favored gauge of inflation that came in hotter-than-expected. PCE and Core PCE Price Indexes rose more than anticipated, while personal income increased less than expected, and spending jumped. The moves came as equities have shown some volatility amid festering uncertainty regarding the ultimate economic impact of aggressive global central bank tightening as a result of persistent inflation. In other economic news, new home sales rose, and consumer sentiment was surprisingly revised the upside.
Treasury yields were higher, and the U.S. dollar gained ground, while crude oil prices increased, and gold traded to the downside. Q4 earnings season rounded a corner this week with some second-tier results hitting the tape, as Autodesk disappointed with its guidance and Intuit bested expectations, while Warner Bros. Discovery fell well short of forecasts.
In other equity news, shares of Boeing declined after the company paused delivery of its 787 Dreamliner planes. Asian stocks finished mixed, and markets in Europe fell, with economic data in the respective regions keeping the anxiety over future global monetary policy elevated.
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Keynes VERSUS Hayek
By staff reporters
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By Staff Reporters
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“The staggering increase in methamphetamine-related deaths in the United States is largely now driven by the co-involvement of street opioids.”—Rachel Hoopsick, an assistant professor of epidemiology at the University of Illinois at Urbana-Champaign and lead researcher on a 20-year study (US News and World Report)
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How 3 companies came to dominate the PBM market
MORE: https://medicalexecutivepost.com/2022/09/21/podcast-pbm-money-flow-explained/
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More docs than ever use health IT for opioid prescribing
RELATED: https://medicalexecutivepost.com/2022/05/09/prescription-drug-rx-abuse/
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Drug Econometrics
LINK: https://medicalexecutivepost.com/2016/11/06/are-soaring-health-care-costs-hurting-the-u-s-economy/
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By Staff Reporters
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Jeffrey Gundlach has raised the alarm on an impending US recession, warning investors they need to prepare for it regardless of how severe it ends up being. Gundlach — whose nickname is the “Bond King” — is a billionaire investor and the boss of DoubleLine Capital. He warned stocks may come under pressure, loan defaults might surge, and inflation could prove stubborn in a recent Yahoo Finance interview. Moreover, he cautioned that attempting to forestall an economic slump can result in a far more devastating downturn in the future.
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U.S. equities ended higher in a choppy trading session as uncertainty remained regarding the ultimate economic impact of aggressive global central bank tightening. The volatile session followed yesterday’s release of the minutes from the Fed’s February monetary policy meeting, which suggested that the Central Bank may need to continue its rate hike campaign to try to tame inflation. In economic news, jobless claims came in below expectations, and Q4 GDP growth was unexpectedly revised lower and the inflation components came in well above estimates.
Treasury yields were mostly lower in choppy trading, and the U.S. dollar was mostly unchanged, while crude oil prices increased after a string of losses, and gold moved to the downside. Q4 earnings season continued down the home stretch, as Nvidia Corporation rallied after topping estimates and offering upbeat Q1 revenue guidance. Elsewhere, eBay matched earnings forecasts but its outlook garnered scrutiny, and Domino’s Pizza fell after missing revenue forecasts and adjusting its guidance lower.
Asian stocks finished mostly lower, though Japan was closed for a holiday, and markets in Europe were mixed as investors around the globe grappled with the outlook for monetary policies.
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What it Is – How it Works?
By Rick Kahler MS CFP® ChFC CCIM www.KahlerFinancial.com
What is capitalism? How does it work? For some time now I’ve been meaning to write a column on that topic, but it has seemed to be a daunting task more fit for an economist than a financial planner.
Then I remembered this story from my childhood. But, it is an allegory for doctors, too!
The Story
One summer, we were visiting my grandparents. I was about ten and my brother was seven. Our grandfather hired us to weed his garden, paying us a dime apiece.
That seems like a paltry sum, but it wasn’t such a bad wage for a couple of kids at the time. After all, a bottle of soda only cost a nickel.
We started off to work. The day was hot. The garden seemed huge. I kept thinking about getting a bottle of soda and sitting in the shade. Pulling all those weeds seemed like a huge price to pay for that reward.
Then I had a brilliant idea. “Dave,” I said, “How would you like to earn an extra nickel?”
My brother was interested. I offered him the opportunity to weed my half of the garden for half of my dime. It seemed like a good idea to him, and we made a deal.
David weeded the entire garden. I bought a bottle of Coke with my nickel, sat in the shade, and watched him work. When the weeding was finished, he was tired and hot but had fifteen cents to show for his labors. I was broke, but I had enjoyed relaxing with my soda instead of having to work in the hot sun.
It seemed like a win-win situation to me. My grandfather didn’t see it the same way. In his view, I had taken advantage of my innocent younger brother by coercing or manipulating him into doing my work for me. I’m not sure Granddad ever forgave me for what I did that day.
A Willing Seller and a Willing Buyer
I suppose there may have been a tiny grain of truth in his perspective. After all, I was three years older than my brother. However, I don’t remember any bullying or manipulation being involved. I simply offered him a deal, and he took it. The transaction involved One thing of value—his work—was exchanged for another thing of value—my nickel. He benefitted from receiving more money, and I benefitted from not having to perform manual labor.
Thinking about it all these years later, it occurred to me that what I did was exactly the same thing my grandfather did. Each of us paid someone else to do a task we didn’t want to do. And each of us got the job done at the lowest cost to ourselves.
For Granddad to accuse me of using my position as the oldest to take advantage of my brother wasn’t quite fair. After all, one could say he used his position as a grandfather to get cheap labor out of a couple of little kids. I suppose one of his aims was to teach us about the value of hard work and the satisfaction of being paid for our efforts. The lesson I learned wasn’t exactly the one he had intended to teach.
Micro-Capitalism
The whole process, though, was a small example of capitalism at work. It was a lesson I took to heart.
Assessment
My brother must have done the same. He’s still a hard worker, and he’s certainly been a very successful capitalist. And when his son was a teenager and I hired him to do my yard work, I had to pay him a lot more than a nickel.
Conclusion
How does this story relate to ACOs, pre-paid healthcare, managed care, the PP-ACA, MC/MD or the direct pay model of medicine? If, at all?
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.
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By Eric Bricker MD
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By Staff Reporters
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Meta confirmed chief business officer Marne Levine is stepping down after 13 years with the company in order to “recharge and prioritize some quality time with family” before beginning her “next professional chapter.” She’s the third female C-suite leader to leave Meta in recent years, following chief operating officer Sheryl Sandberg’s exit in 2022 and global ad chief Carolyn Everson’s in 2021.
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Cathie Wood has steadily reduced ARK Invest’s position in Nvidia (NASDAQ: NVDA) over the last four months. Between November 2022 and January 2023, her flagship ARK Innovation ETF (NYSEMKT: ARKK) completely exited its stake in the microchip stock. So far in February, Wood has also significantly trimmed the positions of Nvidia held by two other ARK Invest ETFs. ARK Fintech Innovation ETF (NYSEMKT: ARKF) still owns 48,272 shares of the stock. ARK Next Generation Internet ETF (NYSEMKT: ARKW) still owns 81,054 shares. After the sales, Nvidia ranks as the 22nd- or 23rd-largest holding in both of these ETFs. Wood’s activity isn’t because Nvidia isn’t performing well. Actually, the stock has soared close to 50% so far in 2023. Several stocks that she has bought this year haven’t delivered comparably impressive gains. So, she is likely just taking gains.
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U.S. equities kicked off the holiday-shortened week by posting sharp losses. Uncertainty regarding the Fed’s future rate hike decisions appeared to pressure market sentiment, as investors grapple with recent hot inflation data and Fedspeak. Retail companies headlined the earnings calendar, as Dow member Walmart bested profit projections and raised its annual dividend, while Dow component Home Depot beat estimates and increased its quarterly dividend, but issued some disappointing guidance. And, Amazon corporate employees will be paid up to 50% less in 2023 due to its falling share price, the WSJ reported. Amazon’s pay packets rely heavily on stock awards, making them vulnerable to price fluctuations. The tech giant is laying off 18,000 employees, its largest ever job cuts, amid weakening economic conditions.
The economic calendar showed manufacturing activity increased but continued to contract, while services activity rose more than expected into expansion territory. Additionally, existing home sales declined in January as the median existing home price continued to rise.
Treasury yields were noticeably higher, and the U.S. dollar gained ground, while crude oil prices were slightly lower, and gold fell. Asia finished mixed, and Europe was mostly lower, as international investors digested some mixed global manufacturing and services sector reports.
Finally, SoftBank Group Corp. founder Masayoshi Son increased the amount of stock pledged as collateral to financial institutions to 175.25 million shares, or about 35% of his total stake in the Japanese conglomerate.
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BY DR. DAVID EDWARD MARCINKO MBA CMP
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770-448-0769
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NIHCM GRANTS
By Hannah Neprash
By Sayeh Sander Nikpay
By Claire McGlave
UNIVERSITY OF MINNESOTA
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Despite increased occurrences, the lack of data on ransomware attacks has impeded research.
CITE: https://www.r2library.com/Resource/Title/0826102549
This research team will use a newly developed database to analyze how hospital ransomware attacks affect health care delivery and patient outcomes. The findings will provide new evidence for ongoing debates and legislative proposals about improving the cybersecurity of critical US infrastructure – including hospitals.
The Effect of Hospital Ransomware Attacks on Health Care Delivery and Patient Outcomes
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By Staff Reporters
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According to Alexandra Bruell at alexandra.bruell@wsj.com the aim of Meta Verified is to increase security and authenticity across the company’s services, Chief Executive Mark Zuckerberg said Sunday in social-media posts. It is also meant to “help up-and-coming creators grow their presence and build community faster,” according to a Meta spokesperson.
The service will cost $11.99 a month for Facebook and Instagram accounts that sign up from a web browser, or $14.99 a month for subscriptions through devices running Android and Apple Inc.’s iOS system, according to Meta. Tests of the service will begin in Australia and New Zealand this week.
In the coming months, the company expects it to roll out in the U.S. and eventually other markets, according to the spokesperson.
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Filed under: Breaking News, Experts Invited, Information Technology, LifeStyle | Tagged: Alexandra Bruell, Android, Facebook, FB, Instagram, Mark Zuckerberg, Meta, Meta Verified, twitter | Leave a comment »
COMMUNITY BASED ORGANIZATIONS
SOCIAL DETERMINANTS OF HEALTH
NIHCM GRANTS
By Yunyu Xiao Weil of Cornell Medicine
By Timothy Brown of UC Berkley Medicine
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This study will determine the causal effects of hospital-CBO partnerships on hospital re-admissions and mortality for the leading mental health and injury-related causes of death (suicidal ideation or suicide) and the leading physical cause of death (heart attack).
CITE: https://www.r2library.com/Resource/Title/0826102549
Findings may inform how, where, and for whom targeted hospital partnerships with CBOs can reduce hospital readmission and mortality.
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Filed under: "Doctors Only", Career Development, Ethics, Experts Invited, Health Insurance, Healthcare Finance, Insurance Matters, Managed Care, Research & Development | Tagged: CBOs, Hospital partnerships, NIHCM, NIHCM Grants, SDOH, Timothy Brown | Leave a comment »
By Staff Reporters
FINANCIAL JARGON
The notion of a “no landing” scenario for the U.S. economy — as opposed to a hard or soft landing — is the latest topic to dominate discussions among economists and strategists.
DEFINITION?
According to Michael B. Kelley Editorial Director of Yahoo Finance, says that a “no landing” scenario involves the economy continuing to grow despite the Federal Reserve’s best efforts to tamp down inflation with interest rate hikes. And, what does that does it mean? “It’s all about inflation,” Bianco Research President Jim Bianco told Yahoo Finance Live.
“What they want or what they’re hoping for, both at the Fed and on the Street, is that the inflation rate is going to hit 2%,” he explained. “Well, the only way that it’s going to do that — at least the belief is — the economy has to slow. And if it doesn’t slow, then the inflation rate stays up. And if the inflation rate stays up, the Fed keeps hiking.”
CITE: https://www.r2library.com/Resource/Title/0826102549
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LINK: https://flo.uri.sh/visualisation/6180194/embed?auto=1
Given the implication the Fed will continue raising rates until inflation subsides — and, in turn, the economy cools off — some observers argue that there’s no such thing as a “no landing” scenario.
“Because we’re in this highly volatile environment, and because there is so much uncertainty, we’ve now seen a number of different ways to interpret or call what we’re seeing in the economy,” EY Parthenon Chief Economist Gregory Daco told Yahoo Finance this week.
“No landing does not make any sense, because it essentially means the economy continues to expand, and it’s part of an ongoing business cycle and it’s not an event — it’s just ongoing growth,” Daco added. “Doesn’t that entail that the Fed will have to raise rates more, and doesn’t that increase the risk of a hard landing?”
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Filed under: "Ask-an-Advisor", Experts Invited, Glossary Terms, Investing | Tagged: Bianco Research, EY Parthenon, financial jargon, FOMC, Gregory Daco, Jim Bianco, Michael B. Kelley, No Landing Economy | Leave a comment »
Confidence in the caliber of the American health system has never been lower
A GALLUP POLL
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ANNUAL GALLUP HEALTHCARE QUALITY REPORT
More than one in five adults (21%) living in the US now rate the country’s healthcare as “poor” quality—a record high, according to Gallup’s annual health and healthcare poll.
Less than half of all respondents (48%) surveyed in 2022 said they’d rank the quality of healthcare in the US as “excellent/good”—a new low since Gallup began tracking the issue in 2001. (That’s down from 50% in 2021 and a record high of 62% in 2010 and 2012.) About a third (31%), meanwhile, said they’d rate the quality of US healthcare as “only fair,” a slight drop from 35% in 2021.
Gallup partially attributed the drop in perceived quality to politics, noting that “Republicans’ positive ratings have been subdued since President Donald Trump left office.” Other likely factors, the organization offered, could be “changes to healthcare that have taken place amid the Covid-19 pandemic or curtailed access to abortion since the Supreme Court’s Dobbs decision.”
Survey Reports:
EDITOR’S NOTE: As a former CPHQ [Certified Physician in Healthcare Quality], I find this report alarming and confusing – David EdwardMarcinko MBA CMP
CMP Program: http://www.CertifiedMedicalPlanner.org
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Filed under: "Doctors Only", Career Development, Drugs and Pharma, Ethics, Experts Invited, iMBA, Inc., Practice Management, Quality Initiatives, Research & Development, Risk Management, Touring with Marcinko | Tagged: CMP, CMP Program, CMP www.CertifiedMedicalPlanner.com, Covid-19, CPHQ, David Edward, Dobbs Decision, Gallup poll healthcare, health quality, medical quality, Medical quality down, US Healthcare Quality | Leave a comment »
By Jennifer Tomasik MS
Health 2.0 is participatory health care.
Enabled by information, software, and community that we collect or create, we the patients can be effective partners in our own health care, and we the people can participate in reshaping the health system itself.
— Dr. Ted Eytan, Director, Permanente Federation, LLC
Potential
Health 2.0’s potential lies in enabling, catalyzing, and sustaining changes in the practice of healthcare.
Dr. Ted Eytan, a nationally recognized proponent of digitally-enhanced patient care with a particular interest in preventive care, has blogged the above “declaration of health care independence,” which we will use as our own working definition of Health 2.0.
CITE: https://www.r2library.com/Resource/Title/0826102549
A Human Space Defined by Engagement
We see Health 2.0 as a human space defined by engagement, aided by technology, in which information and accountability can flow between individuals and their care teams and between individuals and their social networks.
Assessment
The “practice” of healthcare can be understood as a set of “behaviors” that becomes embedded in daily life, plus the “supports” that provide the appropriate resources to achieve the desired outcomes.
Thus, changing a current practice (in pursuit of a different outcome) requires enabling the behavior you want to encourage by providing the necessary supports to make it happen. Health 2.0 has made new supports available for people to embed health-seeking behaviors and sustain practices that increase their involvement in their own health.
NOTES:
[i] Eytan T. “The Health2.0 Definition: Not just the Latest, The Greatest!,” Ted Eytan, MD (Blog).Online 13 Jun 2008. Accessed 1 Nov 2012. <http://www.tedeytan.com/2008/06/13/1089>
[ii] Hawn C. “Take Two Aspirin and Tweet Me in the Morning: How Twitter, Facebook, and Other Social Media Are Reshaping Health Care.” Health Affairs 2009;28(2):361-8.
[iii] Moussa M, Tomasik JL. “Doctor-Patient Relationships in the Modern Era: Can We Talk—A Collaborative Shift in Bedside Manner.” Ch. 15 in Marcinko D.E. and Hope R. Hetico. The Business of Medical Practice: Transformational Health 2.0 Skills for Doctors. New York: Springer Pub. Co., 2011.
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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Filed under: Experts Invited, Information Technology, Practice Management | Tagged: Dr. Ted Eytan, Jennifer Tomasik, LLC, Participatory Health Care, Permanente Federation, What Is Health 2.0? | 1 Comment »
[By Dr. David Edward Marcinko MBA CMP™]
http://www.CertifiedMedicalPlanner.org
[Publisher-in-Chief]
Frequently, we hear the axiom that asset allocation is the most important investment decision, explaining 93.6% of portfolio returns. The presumption has been that once the risk tolerance and time horizon have been established, investing is simply a matter of implementing a fixed mix of stocks, bonds, and cash using mutual funds selected for this purpose. This axiom is based on a famous study by Brinson, Hood, and Beebower (BHB) published in the Financial Analysts Journal in July/August 1986. It is the stuff of most modern business school and graduate students in economics and finance.
Enter the Critics
One critic claims that BHB’s conclusions and the interpretation of their conclusions are wrong, stating that because of several methodological problems, BHB needed to make certain assumptions for their analysis to go forward. They assumed that the average asset-class weights for the 10-year period studied are the same as the actual normal policy weights; that investments in foreign stocks, real estate, private placements, and venture capital can be proxied by a mix of stocks, bonds, and cash; and that the benchmarks for stocks, bonds, and cash against which fund performance was measured are appropriate. The author believes that each of these assumptions can lead to a faulty measurement of success or failure at market timing and stock selection.
The Jahnke Study
William Jahnke claims that BHB erred in their focus on explaining the variation of quarterly portfolio returns rather than portfolio returns over the 10-year period studied. According to the study, asset allocation policy explains only a small fraction of the range of 10-year portfolio returns earned by the pension funds reported in the study. The author concluded that this discrepancy is caused by the effect of compounding returns. He adds that BHB were wrong to use variance of quarterly returns rather than the standard deviation. Use of standard deviation would reduce the often cited 93.6% to about 79%. Moreover, BHB did not consider the cost of investing, such as operating expenses, management fees, brokerage commissions, and other trading costs, which are more significant for individual investors than for the pension plans studied. Jahnke claims that excessive costs can reduce wealth accumulation by 50%.
Note: (“The Asset Allocation Hoax,” William W. Jahnke, Journal of Financial Planning, February 1997, Institute of Certified Financial Planners [303] 759-4900).
Assessment
Finally, the author takes issue with establishing long-term fixed asset class weights. Asset allocation should be a dynamic process. Higher equity return expectations should in turn produce larger equity allocations, other things being equal.
Conclusion
Are doctors different than the average investor noted in this essay?
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
OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
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Filed under: CMP Program, Experts Invited, Investing, Op-Editorials, Portfolio Management, Touring with Marcinko | Tagged: asset allocation, Brinson, CMP, david marcinko, Hood Beebower, The Asset Allocation Hoax, William Jahnke, www.certifiedmedicalplanner.com | 1 Comment »
By Eric Bricker MD
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Filed under: "Doctors Only", Career Development, Experts Invited, iMBA, Inc., Managed Care, Practice Management, Videos | Tagged: Eric Bricker MD, medical UM, medical UR, UM, UR, utilization management, utilization review | Leave a comment »
BY DR. DAVID EDWARD MARCINKO MBA CMP
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HERE: https://medicalexecutivepost.com/schedule-a-consultation/
CONTACT: Ann Miller RN MHA
770-448-0769
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Filed under: "Doctors Only", Career Development, Estate Planning, Experts Invited, Financial Planning, Investing, Managed Care, Media Mentions and PR, Portfolio Management, Practice Management, Practice Worth, Professional Liability, Recommended Books, Risk Management | Tagged: clinic valuations, clinical appraisals, david marcinko, medical practice worth, physician financial planning, physician investing | Leave a comment »
By Health Capital Consultants, LLC
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FTC Proposes Banning Non-Compete Clauses
On January 5, 2023, the Federal Trade Commission (FTC) published a proposed rule that would ban employers from imposing non-competes on their employees. The FTC asserted that this practice is widespread and often exploitative, and such actions can suppress wages, hamper innovation, and block entrepreneurs from starting their own businesses. Notably, while the proposed rule will affect all industries, not just healthcare, this proposal comes at a time when healthcare employers across the U.S. are struggling with staffing shortages.
CITE: https://www.r2library.com/Resource/Title/0826102549
This Health Capital Topics article will discuss the proposed rule, reactions from healthcare industry stakeholders, and potential implications. (Read more…)
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Filed under: "Doctors Only", Breaking News, Career Development, Ethics, Experts Invited, Health Insurance, Health Law & Policy, Healthcare Finance | Tagged: Federal Trade Commission, FTC, FTC: Proposes Banning Non-Compete Employment Contract Clauses, Health Capital Consultants LLC, non-compete clause, Non-Compete Employment Contract Clauses | Leave a comment »
EXPLAINED
By Eric Bricker MD
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It is a healthcare investor conference where investors meet with digital health companies, not-for-profit hospital systems, insurance carriers, biotech and med device companies. The J.P. Morgan Healthcare Conference is invite-only. There is no large exhibition hall. The agenda is not published. Most of the ‘action’ happens outside the conference with private meetings across the city. Most people who attend are not invited and they just go for the private meeting opportunities. Hear a summary of the 2023 J.P. Morgan Healthcare Conference from This Week Health‘s Bill Russell and his guest Rob, DeMichiei–the former CFO of UPMC. Hospital systems actually have a plan to cut costs for the first time in AGES. Insurance carriers are going to become healthcare providers themselves. Will insurance carriers eat hospitals’ lunch? etc. DEFINITION: https://www.r2library.com/Resource/Title/0826102549 |
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Filed under: "Advisors Only", "Doctors Only", Accounting, Experts Invited, Health Economics, Health Insurance, Healthcare Finance, Practice Management, Professional Liability, Taxation, Videos | Tagged: Eric Bricker MD, Healthcare Conference, JP Morgan, PODCAST: JP Morgan Healthcare Conference 2023 | Leave a comment »
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