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    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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FREE FINANCIAL & BUSINESS ADVISORY CONSULTATIONS

iMBA IS NOW OFFERING FREE FINANCIAL & BUSINESS ADVISORY CONSULTATIONS

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By Ann Miller RN MHA CMP®
[Executive Director]
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The Institute of Medical Business Advisors [iMBA, Inc] is now offering free 30 minute phone or Skype® video consultations and second opinions to physicians, nurses and medical colleagues, on a limited scheduling and time basis, during the current Corona Virus outbreak 24/7.
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According to Professor and CEO Dr. David Edward Marcinko MBA, “this is our small way to help give back to colleagues who are so clinically vital to the US public health system and wellness of the country.” Topics include a plethora of personal financial planning and / or medical practice management business issues.
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SCHEDULE A CONSULT:
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
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FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
THANK YOU
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Another CERTIFIED MEDICAL PLANNER® “In The News”

YAHOO Finance!

Courtesy: http://www.MedicalExecutivePost.com

“The extensive experience of our professional team allows us to implement a rigorous process to identify ‘Best in Class’ opportunities in our focus areas,” said Amaury Cifuentes CFP®, CMP® one of the firm’s founders. “We assist in providing capital, innovative solutions and strategic expertise to our portfolio throughout the investment cycle.”

LINK: www.CertifiedMedicalPlanner.org

The partners in the firm include:

Amaury Cifuentes, CFP®, CMP® has 30 years of experience in banking and finance; financial planning and investments with an emphasis on business lending, real estate and private investments. He is a Certified Medical Planner®, giving him an enhanced knowledge of the medical industry’s specific needs.

LINK: https://finance.yahoo.com/news/bluekey-wealth-advisors-announces-formation-150000988.html

Assessment: Your congratulations are appreciated.

TEXTS FOR PHYSICIAN EXECUTIVES AND HOSPITAL CXOs:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

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TEXTS FOR PHYSICIANS AND ADVISORS

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™

THANK YOU

****

Physician “Life-Style Creep”

We Must Avoid It!

By Dr. David E. Marcinko MBA

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MORE: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

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

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How to become a board CERTIFIED MEDICAL PLANNER®

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CURRICULUM: Enter CPMs

[PHYSICIAN FOCUSED FINANCIAL PLANNING AND RISK MANAGEMENT COMPANION TEXTBOOK SET]

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

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Understanding Leases

 An Important Money Skill

By Rick Kahler CFP

“Some days adulting is a pain.” What parent of college-age children hasn’t heard something similar from their kids? The transition from kid to adult is a necessary process toward living a fulfilled and meaningful life, but it isn’t easy or smooth.

This is especially true when it comes to money. Mastering money skills can be a challenge even for older adults.

One of the earliest opportunities to learn adult financial skills comes with renting an apartment. Before you sign that first lease—or any lease—it’s important to understand it. A lease is a legal document that sets out obligations and rights for both landlord and tenant.

One of the most important features of a lease is the length of the agreement. Your lease could be “month-to-month” or for a specific period like a few months or even several years. The most common residential lease terms are six months to one year.

There are pluses and minuses to both types. A month-to-month lease gives the renter the minimum commitment and maximum flexibility. Usually, if you want to move out for whatever reason, you just need to give the landlord a 30-day notice. Unlike a longer-term lease, there is no penalty for “breaking” the lease unless you fail to give even a 30-day notice.

So why wouldn’t a tenant always want a month-to-month lease? Many tenants don’t understand that the flexibility goes both ways. If a landlord chooses to stop leasing the property, finds a tenant willing to pay higher rent, or decides to sell the property, all the lease requires is a 30-day notice for the current tenant to move out. A tenant must accept that risk.

A recent local example concerned 11 house renters who lived on the campus of the Star Academy, a former state-owned property near Custer, SD.  Some of the tenants had rented for 14 years with month-to-month leases. When the state foreclosed on the property it gave the tenants 30-day notices to move. This was not received well by the renters, who faced the prospect of immediately having to find new places to live in a town with a limited supply of housing. Fortunately, the governor reversed the decision and gave the renters six months to find new housing.

As shocking and heartless as this move might have seemed to the renters, it was completely within the rights of the landlord, just as it would have been completely within the rights of any of the tenants to do the same.

It’s easy to get lulled to sleep by a month-to-month lease, especially when a tenant has lived in the property for year after year. However, if the prospect of having to vacate your home in 30 days is not appealing, it would be a really good idea to ask the landlord for a longer lease.

Assessment:

Before signing a lease, consider how long you are willing to commit to living in the property. What will best serve your situation? For some, it may be a lease that expires at the end of a school year, or in a year, or even in three to five years if you see no reason that you will need to move anytime soon. Be aware that by signing the lease, you agree to stay and to pay rent until the time is up.

Also understand that, unless the lease specifically states otherwise, neither you nor the landlord are bound to renew when the lease expires. So it’s important to renegotiate a new lease well before the current lease expires.

Before signing any lease, read it carefully. Ask clarifying questions. Be sure you understand the legal commitment you are making.

Conclusion

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

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

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

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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An Entrepreneurial Mindset Can Hinder Wealth Building

“Help Wanted: Entrepreneur”

By RICK KAHLER, CFP

You have probably never seen an ad like this, because entrepreneurs are not hired. They hire themselves. Merriam-Webster defines an entrepreneur as “a person who starts a business and is willing to risk loss in order to make money” or “one who organizes, manages, and assumes the risks of a business or enterprise.”

God bless entrepreneurs. Without them our world would look much different. We would probably still be living in caves, hunting with clubs, and eating raw meat. They create companies from scratch. In so doing, they create jobs and take significant monetary risks of a business failure.

They also stand to gain substantial rewards for success, but that success is far from guaranteed. Few people realize that most entrepreneurs fail in their attempts in business. According to Investopedia, 50% of all new businesses fail in 5 years, 66% in 10 years, and 75%  in 15 years.

Given those statistics, the entrepreneurs who succeed must be rich, right? A study by Career Explorer found that the average full-time salary of an entrepreneur is $43,240 a year. To put this into perspective, the average starting salary for a graduating four-year degree student at the South Dakota School of Mines and Technology is $63,354. Maybe there should be a song, “Mamas, don’t let your babies grow up to be entrepreneurs.”

My experience, however, is that it really doesn’t matter what Mama says. The entrepreneurial mindset is somewhat inextinguishable. While there have been some attempts at teaching entrepreneurial skills, it’s hard to teach grit, determination, and perseverance, coupled with a good dose of fantasy thinking and denial. It’s really hard to “tell” an entrepreneur anything.

Fittingly, entrepreneurs love to invest in their own companies. Investment advisors call such holdings “tangible” investments, ones you can see and touch. Tangible investments include start-up businesses, family-owned businesses, and all types of directly owned real estate. They are inherently non-diversified and illiquid. Typically, entrepreneurs have the vast portion of their net worth tied up in their businesses. It’s incredibly rare to find one with a stash of cash or any type of liquid portfolio or retirement plan.

Why? The entrepreneurial mindset. First, entrepreneurs don’t believe in traditional diversification. Why settle for earning an average of 5% a year when you can earn ten times that in your business? Never mind that the chance of losing it all is three to one. Most entrepreneurs firmly believe they are the one guaranteed to succeed even though the deck is stacked against them.

Second is that since 75% of businesses ultimately fail, most entrepreneurs are losing, not making, money. They are perennially cash-poor and need every dollar they can find to fund their negative cash flows. Even those who are making money rarely have any liquid investments because entrepreneurs are always looking for new ventures, which of course, need funding.

One of the most difficult tasks I face is persuading a successful entrepreneur to take some hard-earned “chips” off the table and sock away a low-risk, diversified nest egg to assure a comfortable retirement. The only ones I’ve convinced to do that were older entrepreneurs who had owned their companies for well over 15 years and were under five years from retirement. All the younger entrepreneurs to whom I have given that advice have refused the notion. All have eventually lost 75% to 90% of their net worth and, sadly, the opportunity to secure their future.

The entrepreneurial mindset of determination and perseverance can bring significant financial rewards. Expanding that mindset to include a broader, more diversified view of investing for the future can turn those rewards into long-term financial independence.

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

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

Join Our Mailing List 

[By Staff Reporters]

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

HELP a Veteran today!

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Veteran's Day 2012

VETERAN’S DAY 2019

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Assessment

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

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

HELP a Veteran today!

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

MORE: VA Cost Accounting

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

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

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

perez-x-mass

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