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An Info-Graphic?
By Staff Reporters
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Filed under: Glossary Terms, Health Economics, Health Insurance, Quality Initiatives | Tagged: corona, corona virus deaths, pandemic | 1 Comment »
Economic “Schools of Thought”
Posted on October 15, 2020 by Editor-in-Chief
Competing Philosophies
By staff reporters
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Filed under: Glossary Terms, Health Economics | Tagged: Economic Schools of Thought, Economic Theories | Leave a comment »
HOLACRACY versus HEIRARCHY
Posted on October 5, 2020 by Editor-in-Chief
HOLACRACY versus HEIRARCHY
By staff reporters
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#Holacracy takes powers traditionally reserved for executives and managers and spreads them across all employees.
#Heirarchy is how business has traditionally been done- top down, where the ones who do the most work have the least power (as in the practice of medicine in its current form)
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Filed under: Glossary Terms | Tagged: HEIRARCHY, HOLACRACY | Leave a comment »
THE DIFFERENT SCHOOLS OF PSYCHOLOGY
Posted on September 22, 2020 by Editor-in-Chief
Five [5] Schools
By staff reporters
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Update on ARTIFICIAL INTELLIGENCE [A.I.]
Posted on September 20, 2020 by Editor-in-Chief
Future Fate: YES -or- NO?
[By staff reporters]
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Filed under: Ethics, Glossary Terms | Tagged: AI, artificial intelligence | 1 Comment »
About Acute Pericarditis?
Posted on September 18, 2020 by Editor-in-Chief
Diagnosis and Treatment
By staff reporters
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Our “Regret” Principles
Posted on September 17, 2020 by Editor-in-Chief
Understanding the “Misery Index”
By Dan Ariely PhD
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Filed under: Glossary Terms, LifeStyle | Tagged: Dan Ariely PhD, Misery Index, Regret Principles | Leave a comment »
Update on Medical “Prior Authorization”
Posted on September 16, 2020 by Editor-in-Chief
Survey Highlights on Pre-Certification
By wedi
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“DICTIONARY OF TERMS FOR THE BUSINESS OF MEDICINE”
DHEF: https://lnkd.in/dqdbWM9
DHIMC: https://lnkd.in/e9AmEhd
DHITS: https://lnkd.in/eWx3WjZ
MORE: https://lnkd.in/eVGcji5
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Filed under: Glossary Terms, Health Economics, Health Insurance | Tagged: pre-certification, Prior Authorization, WEDI | 1 Comment »
How to Delegate Authority?
Posted on September 15, 2020 by Editor-in-Chief
Do’s and Don’ts
By staff reporters
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20 Cognitive Biases That Affect Decision Making
Posted on September 9, 2020 by Editor-in-Chief
Screwed-Up Decision Making
[By Staff reporters]
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Filed under: Experts Invited, Glossary Terms, Quality Initiatives | Tagged: Biases investing, cognitve science, Decision Biases, decision-making | Leave a comment »
Executive Order Expands Tele-Medicine
Posted on September 6, 2020 by Editor-in-Chief
Eases Burden on Rural Medical Providers
By Health Capital Consultants, LLC
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Executive Order Expands Telemedicine and Eases Burden on Rural Providers
On August 3, 2020, President Donald Trump signed an executive order aimed at expanding access to care through two avenues: telemedicine and eased financial burdens on rural providers. The executive order builds on President Trump’s original expansion of coverage for telemedicine services in early March 2020, an order which was praised by the American Telehealth Association (ATA) and American Medical Association (AMA) for swiftly responding to the growing healthcare crisis. This Health Capital Topics article will discuss the executive rule and the subsequent agency actions on these fronts. (Read more…)
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Filed under: Glossary Terms, Health Law & Policy, Information Technology | Tagged: Health Capital Consultants LLC, Medicare Telehealth, Tele-Health, telemedicine | Leave a comment »
The Economic Impact of Lung Disease
Posted on September 4, 2020 by Editor-in-Chief
Among U.S. Workers
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Filed under: Glossary Terms, Health Economics, Health Insurance, LifeStyle | Tagged: corona, Covid-19, lung, lung disease, mcol.com, vaping | Leave a comment »
MICRO versus MACRO Economics
Posted on August 28, 2020 by Editor-in-Chief
The Differences in Chart Form
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EMR ‘versus’ EHR
Posted on August 20, 2020 by Editor-in-Chief
What is the Difference – Know the Difference
By staff reporters
Both an EMR and EHR are digital records of patient health information. An EMR is best understood as a digital version of a patient’s chart. It contains the patient’s medical and treatment history from one practice. Usually, this digital record stays in the doctor’s office and does not get shared. If a patient switches doctors, his or her EMR is unlikely to follow.
By contrast, an EHR contains the patient’s records from multiple doctors and provides a more holistic, long-term view of a patient’s health. It includes their demographics, test results, medical history, history of present illness (HPI), and medications.
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“Medical Management and Health Economics Education for Financial Advisors”
CMP® CURRICULUM: https://lnkd.in/eDTRHex
CMP® WEB SITE: https://lnkd.in/guWSApq
Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
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Filed under: Information Technology, Glossary Terms | Tagged: eMR, eHR | 1 Comment »
The Top 15 “Evolutions of Learning”
Posted on August 18, 2020 by Editor-in-Chief
BEFORE versus FUTURE
By staff reporters
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Type I Errors VERSUS Type II Errors [Medical Testing]
Posted on August 14, 2020 by Editor-in-Chief
False Positive VERSUS False Negative Tests
By Staff reporters
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What is an Adaptive COVID-19 Trial?
Posted on August 12, 2020 by Editor-in-Chief
How it Works
By staff reporters
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SPEAKING INVITATION TOPIC LIST:
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About Rebecca Crumpler MD
Posted on August 3, 2020 by Editor-in-Chief
The First Black Woman MD in the USA
By staff reporters
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“Medical Management and Health Economics Education for Financial Advisors”
CMP® CURRICULUM: https://lnkd.in/eDTRHex
CMP® WEB SITE: https://lnkd.in/guWSApq
Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
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Filed under: "Doctors Only", Glossary Terms, Health Law & Policy | Tagged: Rebecca Crumpler MD | Leave a comment »
NASDAQ 100
Posted on August 1, 2020 by Editor-in-Chief
BIGGEST STOCKS [COMPANIES]
Courtesy: www.CertifiedMedicalPlanner.org
CERTIFIED MEDICAL PLANNER®
“Medical Management and Health Economics Education for Financial Advisors”
CMP® CURRICULUM: https://lnkd.in/eDTRHex
CMP® WEB SITE: https://lnkd.in/guWSApq
Your thoughts and comments are appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
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Filed under: CMP Program, Glossary Terms | Tagged: About the Certified Medical Planner™ Program, CMP Program | Leave a comment »
New Index Ranks Hospitals’ Community Benefit
Posted on July 29, 2020 by Editor-in-Chief
New Index Ranks Hospitals’ Community Benefit
By Health Capital Consultants, LLC
On July 7, 2020, the Lown Institute, a nonpartisan think tank, announced the initial release of its new ranking system for hospitals. Called the “Hospitals Index,” this ranking analyzes not just the quality of care and patient outcomes but also the hospital’s civic leadership and avoidance of overuse, ideas that harken back to the core mission and vision of the Lown Institute itself.
Founded in 1973, the Institute advocates for a healthcare system that “rejects low-value care, incentivizes healing over profits, promotes health equity, and honors the value of the clinician-patient relationship.” (Read more…)
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“Medical Management and Health Economics Education for Financial Advisors”
CMP® CURRICULUM: https://lnkd.in/eDTRHex
CMP® WEB SITE: https://lnkd.in/guWSApq
Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
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Filed under: Ethics, Glossary Terms, Quality Initiatives | Tagged: Health Capital Consultants LLC, Hospitals’ Community Benefit | Leave a comment »
VENTILATORS
Posted on July 28, 2020 by Editor-in-Chief
Human Physiology [4 Steps]
By Staff Reporters
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“Medical Management and Health Economics Education for Financial Advisors”
CMP® CURRICULUM: https://lnkd.in/eDTRHex
CMP® WEB SITE: https://lnkd.in/guWSApq
Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
***
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Filed under: Glossary Terms, LifeStyle | Tagged: ventillators | Leave a comment »
ANOSMIA, HYPERSOMIA, AGEUSIA, HYPOGEUSIA, DYSGEUSIA and the CORONA VIRUS?
Posted on July 26, 2020 by Editor-in-Chief
WHAT IS “ANOSMIA”
By Darrell Pruitt DDS and David E. Marcinko MBBS, MBA
Anosmia, also known as smell blindness, is the loss of the ability to detect one or more smells. Anosmia may be temporary or permanent. It differs from Hyposmia which is a decreased sensitivity to some or all smells.
According to Wikipedia, Anosmia can be due to a number of factors, including an inflammation of the nasal mucosa, blockage of nasal passages or a destruction of one temporal lobe. Inflammation is due to chronic mucosa changes in the lining of the paranasal sinus and in the middle and superior turbinates. When anosmia is caused by inflammatory changes in the nasal passageways, it is treated simply by reducing inflammation. It can be caused by chronic meningitis and neurosyphilis that would increase intracranial pressure over a long period of time, and in some cases by ciliopathy, including ciliopathy due to primary ciliary dyskinesia. The term derives from the New Latin anosmia, based on Ancient Greek ἀν- (an-) + ὀσμή (osmḗ, “smell”; another related term, hyperosmia, refers to an increased ability to smell). Some people may be anosmic for one particular odor, a condition known as “specific anosmia”. The absence of the sense of smell from birth is known as congenital anosmia.
Ageusia is the loss of taste functions of the tongue, particularly the inability to detect sweetness, sourness, bitterness, saltiness, and umami. It is sometimes confused with anosmia – a loss of the sense of smell. Because the tongue can only indicate texture and differentiate between sweet, sour, bitter, salty, and umami, most of what is perceived as the sense of taste is actually derived from smell. True Ageusia is relatively rare compared to Hypogeusia – a partial loss of taste – and Dysgeusia – a distortion or alteration of taste.
ASSESSMENT:
If you should suddenly lose your sense of smell (anosmia), you might want to get tested for COVID-19 – even without the presence of other symptoms.
“A majority of COVID-19 patients experience some level of anosmia, most often temporary. Analyses of electronic health records indicate that COVID-19 patients are 27 times more likely to have smell loss but are only around 2.2 to 2.6 times more likely to have fever, cough or respiratory difficulty, compared to patients without COVID-19.”
See: “How COVID-19 Causes Loss of Smell – Olfactory support cells, not neurons, are vulnerable to novel coronavirus infection.” By Kevin Jiang for Harvard Medical School, July 24, 2020.
https://hms.harvard.edu/news/how-covid-19-causes-loss-smell
Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
***
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Filed under: Glossary Terms, Health Insurance, iMBA, Inc., Pruitt's Platform, Touring with Marcinko | Tagged: AGEUSIA, ANOSMIA, corona, Corvid-19, D. Kellus Pruitt DDS, David Edward Marcinko, DYSGEUSIA, HYPERSOMIA, HYPOGEUSIA, pandemic | Leave a comment »
Healthcare and the Pandemic
Posted on June 11, 2020 by Editor-in-Chief
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Filed under: Glossary Terms, Health Economics, Health Insurance, Health Law & Policy | Tagged: corona virus, pandemic | Leave a comment »
WHAT IS THE VELOCITY OF MONEY?
Posted on June 1, 2020 by Editor-in-Chief
It’s the Rate of [Physician] Circulation and Consumption
Courtesy: https://lnkd.in/eBf-4vY
The VM is a measure of the number of times that the average unit of currency is used to purchase goods and services within a given time period. The concept relates the size of economic activity to a given money supply. This speed of money exchange is one of the variables that determine inflation.
VM is the ratio of gross national product (GNP) to a country’s money supply. The more often money changes hands, the greater the level of commerce. The VM is determined by money supply, interest rates, inflation, commerce and the Federal Reserve.
LINK: https://lnkd.in/eZxrhtp
Physicians, like most consumers, tend to hold less money as interest rates and inflation increase, and therefore the velocity of money increases.
ESSAY: https://lnkd.in/e6TvuVM
VM is reduced when people increase money holdings in periods of low interest rates and low inflation; the opposite when rates and inflation are high.
CMP® CURRICULUM: https://lnkd.in/eDTRHex
Assessment: Comments appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
1 – https://lnkd.in/ebWtzGg
2 – https://lnkd.in/ewJPTJs
THANK YOU
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Filed under: Financial Planning, Glossary Terms, iMBA, Inc. | Tagged: Velocity Money | Leave a comment »
WHAT IS A “VACCINE ENHANCED IMMUNE RESPONSE”?
Posted on May 24, 2020 by Editor-in-Chief
Study Confirms Some Flu Vaccines Cause a Stronger Response in Older Patients
Courtesy: www.CertifiedMedicalPlanner.org
Back in December 2019, a study published journal “Clinical Infectious Diseases” offered more evidence that certain specially formulated flu vaccines may offer people 65 years and older better protection than standard-dose flu vaccines.
LINK: https://www.cdc.gov/flu/spotlights/2019-2020/vaccine-stronger-immune.htm
People in this age group are considered at high risk of developing serious flu complications, yet vaccines may not work as well for them as they do in younger people.
There are at least three relatively newer influenza vaccine options that may improve vaccine protection among older adults, and this is the first study to directly compare the antibody responses from these newer vaccine options with standard flu vaccines among people in the same age group during the same influenza season.
QUERY: What are the implications of this study on the Corona Virus pandemic?
Assessment: Your thoughts and comments are appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
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Filed under: Glossary Terms | Tagged: VACCINE ENHANCED IMMUNE RESPONSE | Leave a comment »
THE “Rational” AND “Adaptive” Expectations Theory
Posted on May 22, 2020 by Editor-in-Chief
Two Well Known But Doubtful Economic Theories
Courtesy: www.CertifiedMedicalPlanner.org
[By Staff Reporters]
1 – RATIONAL EXPECTATIONS state that one will conform to what can logically be expected in the future. That is, a person will invest, save or spend according to what s/he rationally believes will happen in the future. An investor thinks a stock is going to go up, and by buying it, this act actually causes the stock to go up.
LINK: https://www.springerpub.com/dictionary-of-health-economics-and-finance-9780826102546.html
DOUBT: An investor notices that a stock is undervalued, buys it, and watches as other investors notice the same thing, thus pushing the price up to its proper market value. This creates a self-fulfilling prophecy that helps bring about the future event. So, RE can be changed to explain everything, but it tells us nothing.
2 – ADAPTIVE EXPECTATIONS suggest that people form their expectations about what will happen in the future based on what has happened in the past.
DOUBT: Past data is only one of many factors that influence future behavior. In the financial world, change is the only true constant.
ESSAY: https://medicalexecutivepost.com/2013/04/24/more-on-money-psychology/
ESSAY: https://medicalexecutivepost.com/2014/08/08/on-financial-psychology-and-money-scripts/
ASSESSMENT: Your thoughts and comments are appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
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THANK YOU
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Filed under: Glossary Terms | Tagged: Adaptive Expectations, Economic Psychology, financial psychology, Rational Expectations | Leave a comment »
Medical Practice “Prior Authorizations”
Posted on May 21, 2020 by Editor-in-Chief
THE “SIREN CALL” OF MEDICAL PRACTICE PRIOR AUTHORIZATONS
Courtesy: www.CertifiedMedicalPlanner.org
“The Doctor Can’t See You – She’s Too Busy Doing Prior Authorizations.”
By Dr. David Edward Marcinko MBA
Somewhere along the way, physicians took a wrong step. Colleagues said OK to the SERPENT who whispered: “this saves money,” and now we’re entangled. We should’ve asked, “Whose money?”
PRIOR AUTHORIZATIONS for medical treatment and prescription drug are killing medicine and all those who would follow into this once great profession.
And so, here is an excerpt [blinded and abbreviated] from an email we received from a medical physician colleague.
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DOCTOR: For every hour that I spend with a patient, I spend another three hours documenting and begging.
TYPICAL DAY: 4 hours of seeing patients, sprinkled between 12 hours of doing what we used to call “paperwork”.
EMRs: Calling it Electronic Medical Records and data collection doesn’t make this nonsense any more appealing.
ASSESSMENT: Patients get turned away because PCPs are too busy with paperwork. People are sick and dying while I’m calling clerks and pleading for RXs. I’d rather be doctoring.
BOTTOM LINE: 1/5 of my day, over 12 hours a week as a PCP, is now spent on prior authorizations. 1/3 of my assistant’s day is on prior authorizations. That’s why he couldn’t call you back.
CONCLUSION: Next time you can’t get a doctor’s appointment, you’ll know why.
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Assessment: Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
THANK YOU
***
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Filed under: Drugs and Pharma, Glossary Terms | Tagged: prior medical authorizations | 2 Comments »
Active v. Passive v. Acquired Immunity
Posted on May 20, 2020 by Editor-in-Chief
On Basic Epidemiology and Public Health
Courtesy: www.CertifiedMedicalPlanner.org
Active Immunity develops after exposure to a disease-causing infectious microorganism or other foreign substance, such as following infection or vaccination.
Acquired Immunity develops during a person’s lifetime. There are two types of acquired immunity: active immunity and passive immunity.
Passive Immunity develops after a person receives immune system components, most commonly antibodies, from another person. Passive immunity can occur naturally, such as when an infant receives a mother’s antibodies through the placenta or breast milk, or artificially, such as when a person receives antibodies in the form of an injection (gamma globulin injection). Passive immunity provides immediate protection against an antigen, but does not provide long-lasting protection.
LINK: https://aidsinfo.nih.gov/understanding-hiv-aids/glossary/2/acquired-immunity
Assessment: Your comments are appreciated.
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Filed under: Glossary Terms | Tagged: acquired immunity, active immunity, passive immunity | Leave a comment »
WILL THE CORONA VIRUS PANDEMIC DECIMATE THE L.T.C.I. INDUSTRY?
Posted on May 17, 2020 by Editor-in-Chief
WILL THE CORONA VIRUS PANDEMIC DECIMATE THE L.T.C.I. INDUSTRY?
Courtesy: https://lnkd.in/eBf-4vY
By Dr. David E. Marcinko MBA
I admit that I held a state insurance license.
LINK: https://lnkd.in/e9AmEhd
A 22 minute computer test was the barrier to entry. There aren’t many with both medical and insurance licenses; and even fewer who actually practiced inside a [skilled] nursing home, long term care facility or geriatric hospital; etc.
ESSAY: https://lnkd.in/ebJPN3V
EESSAY: https://lnkd.in/gMZP-T9
Of course, agents sell policies but doctors treat patients. And, most Long Term Care Insurance policies are sold; not bought. I would not want to live in such a facility.
ESSAY: https://lnkd.in/etQwcP6
ESSAY: https://lnkd.in/eCBuPeq
ESSAY: https://lnkd.in/eKCFAhG
My combined experience led me to advocate for the age-in-place movement; despite the exploding aging population.
ESSAY: https://lnkd.in/eK54jfq
ESSAY: https://lnkd.in/eFzDUju
ESSAY: https://lnkd.in/gMyFFVz
QUERY: Has the recent pandemic exposed the structural weakness endemic to our LTC system and made institutional out breaks more deadly?
LINK: https://lnkd.in/eR8KeQt
LINK: https://lnkd.in/eqkneqq
Assessment: Any thoughts or comments?
BUSINESS, FINANCE AND INSURANCE TEXTS
1 – https://lnkd.in/ebWtzGg
2 – https://lnkd.in/ezkQMfR
3 – https://lnkd.in/ewJPTJs
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Filed under: Glossary Terms, Health Insurance | Tagged: Covid-19, long term care insurance, LTCI, WILL THE CORONA VIRUS PANDEMIC DECIMATE THE L.T.C.I. INDUSTRY? | Leave a comment »
“UNIVERSAL PRECAUTIONS” EXISTED LONG BEFORE THE CORONA VIRUS
Posted on May 11, 2020 by Editor-in-Chief
WHAT’S OLD – IS NEW AGAIN?
Courtesy: www.CertifiedMedicalPlanner.org
Dr. David E. Marcinko MBA
Universal Precautions refer to the medical practice of avoiding contact with patients’ bodily fluids, by means of the wearing of nonporous articles such as medical gloves, goggles, and face shields.
The infection control techniques were essentially good hygiene habits, such as hand washing and the use of gloves and other barriers, the correct handling of hypodermic needles, scalpels, and aseptic techniques.
Following the AIDS outbreak in the 1980s the US CDC formally introduced them in 1985–88. Every patient was treated as if infected and therefore precautions were taken to minimize risk.
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ASSESSMENT: Your thoughts and comments are appreciated.
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Filed under: Glossary Terms, Quality Initiatives | Tagged: UNIVERSAL PRECAUTIONS | Leave a comment »
SDOH – Building the Case
Posted on May 8, 2020 by Editor-in-Chief
Why SDOH?
[By MCOL.com and staff reporters]
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Filed under: Glossary Terms, Health Economics, LifeStyle, Quality Initiatives | Tagged: SDOH, Social Determinants of Health | Leave a comment »
Parkinson’s Law of Triviality in Time Management, Economics and Finance
Posted on May 3, 2020 by Editor-in-Chief
The Attention a Problem Gets is Inverse to its’ Importance
Courtesy: http://www.CertifiedMedicalPlanner.org
By Dr. David Edward Marcinko MBA
Historian Cyril Parkinson’s wrote in his book Parkinson’s Law,
“The time spent on any item of the agenda will be in inverse proportion to the sum [of money] involved.”
EXAMPLE: Parkinson described a fictional finance committee with three tasks: approval of a $10 million nuclear reactor, $400 for an employee bike shed, and $20 for employee refreshments in the break room.
The committee approves the $10 million nuclear reactor immediately, because the number is too big to contextualize, alternatives are too daunting to consider, and no one on the committee is an expert in nuclear power.
Bike Shed Effect: The bike shed gets considerably more debate. Committee members argue whether a bike rack would suffice and whether a shed should be wood or aluminum, because they have some experience working with those materials at home.
Employee refreshments take up two-thirds of the debate, because everyone has a strong opinion on what’s the best coffee, the best cookies, the best chips, etc.
Absurd: The world is filled with these absurdities. In personal finance, Ramit Sethi recently said we should stop asking $3 questions (should I buy coffee?) and ask more $30,000 questions (should I buy a smaller home?). Most people don’t, because it’s hard and intimidating. In any given moment the easiest way to deal with a big problem is to ignore it and fill your time thinking about a smaller one.
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Assessment: Your thoughts and comments related to the Corona Virus Pandemic, meetings and time management and psychology are appreciated; especially the CARES Act.
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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS
THANK YOU
***
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Filed under: Glossary Terms, Investing, LifeStyle | Tagged: Cyril Parkinson, Parkinson’s Law of Triviality | Leave a comment »
Global Death Statistics
Posted on May 3, 2020 by Editor-in-Chief
January – March 2020
[By staff reporters]
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Assessment: Your thoughts are appreciated.
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Filed under: Glossary Terms, Health Insurance, LifeStyle | Tagged: cause of death, Global Deaths, Leading Cause Death | Leave a comment »
WHAT IS AN “ENTREPRENEUR” ACCORDING TO AUSTRIAN ECONOMISTS
Posted on May 2, 2020 by Editor-in-Chief
The Methodology of Thinking on Your Own
Courtesy: http://www.CertifiedMedicalPlanner.org
By Dr. David E. Marcinko MBA
The Austrian school of Economics uses the logic of a priori thinking—something a person can think on their own without relying on the outside world—to discover economic laws of universal application.
The other mainstream schools of economics, like the neoclassical school, the new Keynesians and others, make use of data and mathematical models to prove their point objectively.
In this respect, the Austrian school can be more specifically contrasted with the German historical school that rejects the universal application of any economic theorem.
PODCAST: https://www.youtube.com/watch?v=MxK8FKU3BPs
And so, colleague Peter Quinones – Free Man Beyond The Wall – welcomes Per in this podcast presentation. Per talks about the role of the entrepreneur, not only in society, but according to the Austrian School of Economics!
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PODCAST: http://freemanbeyondthewall.libsyn.com/episode-312
Assessment: Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
***
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Filed under: Glossary Terms, Health Economics | Tagged: Austrian Economics, FA Hayek, Ludwig Von Mises Institute, Peter Quinones | Leave a comment »
What is “COMPASSION FADE?”
Posted on May 1, 2020 by Editor-in-Chief
A Cognitive Bias of the Corona Virus Pandemic
Courtesy: www.CertifiedMedicalPLanner.org
By Dr. David E. Marcinko MBA
Compassion Fade is a cognitive bias that predisposes people to behave more compassionately towards a small number of identifiable victims than to a large number of anonymous ones.
It is the psychological explanation to the known phenomenon alluded to by Joseph Stalin in his famous quote “The death of one man is a tragedy; the death of millions is a statistic”.
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LINK: https://www.publichealthpost.org/research/compassion-fade/
Assessment: Your thoughts and comments are appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
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Filed under: Glossary Terms, LifeStyle | Tagged: compassion fade | 1 Comment »
What is Anscombe’s Quartet?
Posted on April 29, 2020 by Editor-in-Chief
The Need for Data Visualization
Courtesy: www.CertifiedMedicalPlanner.org
Anscombe’s Quartet comprises four data sets that have nearly identical simple descriptive statistics, yet have very different distributions and appear very different when graphed. Each dataset consists of eleven (x,y) points.
They were constructed in 1973 by the statistician Francis Anscombe to demonstrate both the importance of graphing data before analyzing it and the effect of outliers and other influential observations on statistical properties. He described the article as being intended to counter the impression among statisticians that “numerical calculations are exact, but graphs are rough.”
So, always plot that data!
***Assessment: Your thoughts and comments are appreciated.
BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
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Do Three Men Still Make a Tiger?
Posted on April 28, 2020 by Editor-in-Chief
Moral Suasion, Investing and the Corona Pandemic
Courtesy: http://www.CertifiedMedicalPlanner.org
By Dr. David E. Marcinko MBA
People will believe anything if enough people tell them it’s true.
This thought comes from a Chinese proverb that if one person tells you there’s a tiger roaming around your neighborhood, you can assume they’re lying.
LINK: https://www.springerpub.com/dictionary-of-health-economics-and-finance-9780826102546.html
If two people tell you, you begin to wonder. If three say it’s true, you’re convinced there’s a tiger in your neighborhood and you panic.
MORE: https://www.omsj.org/science/three-men-make-a-tiger
INVESTING: https://www.caseyresearch.com/daily-dispatch/three-men-make-a-tiger/
MONEY PSYCHOLOGY: https://medicalexecutivepost.com/2018/09/19/money-beliefs-and-luxury-lifestyle-tv/
INVESTING: https://medicalexecutivepost.com/2013/04/24/more-on-money-psychology/
Assessment: Your thoughts and comments related to the Corona Virus Pandemic, Money and Investing psychology are appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
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What is Apophenia?
Posted on April 27, 2020 by Editor-in-Chief
AND … What is Pareidolia?
Courtesy: www.CertifiedMedicalPlanner.org
Apophenia is the tendency to mistakenly perceive connections and meaning between unrelated things. The termwas coined by psychiatrist Klaus Conrad in his 1958 publication on the beginning stages of schizophrenia.
Conrad defined it as “unmotivated seeing of connections [accompanied by] a specific feeling of abnormal meaningfulness”. He described the early stages of delusional thought as self-referential, over-interpretations of actual sensory perceptions, as opposed to hallucinations.
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Man in the Moon refers to any of several pareidolic images of a human face, head or body that certain traditions recognize in the disc of the full moon.
Pareidolia is the tendency for incorrect perception of a stimulus as an object, pattern or meaning known to the observer, such as seeing shapes in clouds, seeing faces in inanimate objects or abstract patterns, or hearing hidden messages in music. Pareidolia is a subcategory of apophenia.
Your thoughts and comments are appreciated.
BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS
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The “WOOZLE EFFECT” is Not a GOOZLE!
Posted on April 26, 2020 by Editor-in-Chief
Evidence by Citation
By Dr. David E. Marcinko MBA
Courtesy: www.CertifiedMedicalPlanner.org
“A reliable way to make people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth.” – Daniel Kahneman
As I was watching with interest more [fake] news such as stories surrounding evidence by citations of Russian involvement in US elections and fake prices leading to some violent market gyrations as in Bitcoin and the Corona Virus Pandemic, and societal musings around the thematic of hoaxes … we decided to offer this theme.
Enter the WOOZLE
And so, the Woozle effect, also known as evidence by citation, or a woozle, occurs when frequent citation of previous publications that lack evidence misleads individuals, groups and the public into thinking or believing there is evidence, and non-facts become urban myths and factoids.
Not a GOOZLE: https://www.daredictionary.com/view/dare/ID_00024696
H INDEX: https://medicalexecutivepost.com/2014/11/07/understanding-the-scientific-publication-h-index/
GOOGLE SCHOLAR INDEX: Google Scholar Search
LINK: https://en.wikipedia.org/wiki/Woozle_effect
Assessment: Your thoughts are appreciated.
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BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:
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The Yerkes-Dodson Law, Management, Investing and the Corona Pandemic?
Posted on April 26, 2020 by Editor-in-Chief
Performance Increases with Anxiety and Excitement to a Point
By Dr. David E. Marcinko MBA
Courtesy: www.CertifiedMedicalPlanner.org
The Yerkes–Dodson law is an empirical relationship between arousal and performance, originally developed by psychologists Robert M. Yerkes and John Dillingham Dodson in 1908.
LINK: https://www.springerpub.com/dictionary-of-health-economics-and-finance-9780826102546.html
The law dictates that performance increases with physiological or mental arousal, but only up to a point. When levels of arousal become too high, performance decreases. The process is often illustrated graphically as a bell-shaped curve which increases and then decreases with higher levels of arousal.
LINK: https://juniperpublishers.com/gjidd/pdf/GJIDD.MS.ID.555606.pdf
MONEY: https://medicalexecutivepost.com/2018/09/19/money-beliefs-and-luxury-lifestyle-tv/
INVESTING: https://medicalexecutivepost.com/2013/04/24/more-on-money-psychology/
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Assessment: Your thoughts and comments related to the Corona Virus Pandemic, Investing and Money Psychology are appreciated.
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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
THANK YOU
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Filed under: Glossary Terms, Investing, Research & Development | Tagged: Investing, money psychology, Yerkes-Dodson Law | 1 Comment »
WARD CUNNINGHAM’S LAW OF INTERNET INQUIRIES!
Posted on April 25, 2020 by Editor-in-Chief
Does the Internet Promote the Same Dynamic as “Road Rage?”
Courtesy: https://lnkd.in/eBf-4vY
The best way to get an answer on the Internet is not to ask a question. It’s to post the wrong answer.
This “law” by Ward Cunningham is known to those with social media accounts. Once you’re arguing with a computer – social norms vanish! People like to fight online more than they like to help.
They’re quicker to point out flaws than to become a friendly resource.
In fact, psychologist Jonathan Haidt wrote that if you constantly express anger in your private conversations, your friends will likely find you tiresome. But, when there’s an audience, the payoffs are different and outrage can boost your status.
A study by William J. Brady at NYU measured half a million tweets and found that each moral or emotional word used in a tweet increased its virality by 20 percent.
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Finally, another 2017 study, by the Pew Research Center, showed that posts exhibiting “indignant disagreement” received nearly twice as much engagement [likes and shares] as other types of content.
MORE: https://lnkd.in/emU7F5c
Assessment: Your thoughts are appreciated
TEXTS FOR PHYSICIAN-EXECUTIVES & MEDICAL CXOs:
1 – https://lnkd.in/eEf-xEH
2 – https://lnkd.in/e2ZmewQ
Thank You
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WHAT IS THE “LUXURY PRODUCT” ECONOMIC PARADOX?
Posted on April 24, 2020 by Editor-in-Chief
WHAT IS THE “LUXURY PRODUCT” ECONOMIC PARADOX?
By Dr. David Edward Marcinko MBA
Courtesy: http://www.CertifiedMedicalPlanner.org
he more expensive something is – the less likely you are to use it. This relationship between price and product utility is graphed as an “inverted U.”
LINK: https://www.springerpub.com/dictionary-of-health-economics-and-finance-9780826102546.html
So, super car Ferraris sit in garages; but Fords get driven.
My own Jaguar touring sedan illustrates this paradox.
ESSAY: https://medicalexecutivepost.com/2018/09/02/my-jaguar-mechanic-vs-doctor-story/
This theory may even be valid for services; as well as products?
THINK: Plastic and cosmetic surgery?
Assessment: Your thoughts and comments are appreciated.
BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS
THANK YOU
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WHAT ARE BIOLOGICAL STATISTICS
Posted on April 23, 2020 by Editor-in-Chief
A GLOSSARY AND GUIDE TO MEDICAL AND BIOLOGICAL STATISTICS
Courtesy: www.CertifiedMedicalPlanner.org
Biostatistics is the development and application of statistical methods to a wide range of topics in biology. It encompasses the design of biological experiments, the collection and analysis of data from those experiments and the interpretation of the results.
LINK: https://www.springerpub.com/dictionary-of-health-economics-and-finance-9780826102546.html
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So, here is a white paper and glossary of important epidemiological concepts and common bio-statistical terms to help doctors, graduate students and related professionals translate medical research into everyday practice.
Link: http://www.medpagetoday.com/Medpage-Guide-to-Biostatistics.pdf
Assessment: Your thoughts are appreciated.
BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
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What is the McNamara [Bio] Statistical Fallacy?
Posted on April 23, 2020 by Editor-in-Chief
A Metaphor for the Corona Virus Pandemic!
Courtesy: www.CertifiedMedicalPlanner.org
By Dr. David E. Marcinko MBA
A belief that rational decisions can be made with quantitative data and measures alone, when in fact the things you can’t measure are often the most consequential.
LINK: https://www.springerpub.com/dictionary-of-health-economics-and-finance-9780826102546.html
Named after Defense Secretary McNamara, who tried to quantify every aspect of the Vietnam War.
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QUERY: Is this also a metaphor for the “Art” and Science of Medicine and Economics?
Assessment: Your thoughts and comments are appreciated.
BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
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A 4/20 [Medical] Cannabis Culture Day Pictorial
Posted on April 20, 2020 by Editor-in-Chief
About Four-Twenty Day
[By Anonymous DEA Agent]
Today is … 420, 4:20, or 4/20 (pronounced four-twenty).
And, it refers to consumption of cannabis and, by extension, a way to identify oneself with cannabis subculture. Observances based on the number include the time (4:20 p.m.) as well as the date (April 20).
Again … that’s today as this ME-P was published @ 4:20 p.m., EST!
THE DEA DESTROYS A POT FARM
PHOTOS:
- Photo taken after the “grow” was eradicated. There is still no “pot” of gold at the end of the rainbow.
- DEA taking one of many seized vehicles/equipment.
- The marijuana farm was operating under the name “Brian’s Green Thumb Farm.”
- Inside the barn, Agents found rows and rows of drying marijuana.
- Over 2,000 pounds of drying marijuana from the barn, bagged and ready for destruction.
- Air view of the massive “grow” from the guard tower.
- One of two sleeping shelters, each guarding the middle perimeter. In the back, one of four tents, each positioned in the corners for guards.
- The plant being ripped out of the ground by the backhoe.
© iMBA Inc. All rights reserved.
Assessment
Link: http://en.wikipedia.org/wiki/420_(cannabis_culture)
UPDATE 2019: Carl’s Jr. will become the first major fast-food chain to debut a cannabis-infused burger:
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: Breaking News, Drugs and Pharma, Glossary Terms, Health Law & Policy | Tagged: cannabis, DEA, ganga, marijuana, mary jane, medicinal marijuana, pot, pot farm, The 4/20 Cannabis Culture, weed | 13 Comments »
WHAT IS “MEDICAL SENTINEL” CASE SURVEILLANCE IN PUBLIC HEALTH?
Posted on April 20, 2020 by Editor-in-Chief
WHAT IS “MEDICAL SENTINEL” CASE SURVEILLANCE IN PUBLIC HEALTH?
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By Dr. David E. Marcinko MBACourtesy: https://lnkd.in/eBf-4vY
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SENTINEL SURVEILLANCE is a medical case observation system in which a designated group of reporting sources, hospitals and agencies agrees to report all cases of one or more notify-able conditions; such as the Corona Virus.
LINK: https://lnkd.in/e9AmEhd
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I first became interested in this concept during the HIV/AIDS epidemic of the early 1980s. In fact, it prompted me to later become a Certified Physician in Healthcare Quality [CPHQ].
LINK: https://lnkd.in/e5tRw6R
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Now recently, Deborah Leah Birx MD coordinator for the White House Corona Virus Task Force mentioned the term on the daily presidential briefings.
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QUERY: But, what really is modern sentinel surveillance; anyway?
PODCAST: https://lnkd.in/eArBiHQ Finally, John Ionnadis MD opines on health data.
LINK: https://lnkd.in/eW6huCA Your comments are appreciated.
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WHAT IS A MEDICAL “SENTINEL EVENT”
Posted on April 19, 2020 by Editor-in-Chief
WHAT IS A MEDICAL “SENTINEL EVENT”
Courtesy: www.CertifiedMedicalPlanner.org
Terms in the Covid Virus Pandemic News
The Joint Commission suggests a Sentinel Event is any unanticipated occurrence in a healthcare setting resulting in death or serious physical or psychological injury to a patient or patients, not related to the natural course of the patient’s illness.
Sentinel Events specifically include loss of a limb or gross motor function, and any event for which a recurrence would carry a risk of a serious adverse outcome. Sentinel events are identified to help aid in root cause analysis and to assist in development of preventive measures.
TJC tracks events in a database to ensure they are adequately analyzed and undesirable trends or decreases in performance are caught early and “mitigated”.
Deborah Leah Birx MD coordinator for the White House Corona Virus Task Force mentioned the term in the daily presidential briefings on the Covid-19 pandemic. And so, your thoughts and comments are appreciated.
Assessment: Your thoughts are appreciated.
BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS
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COVID-19 and Pre-Existing Conditions
Posted on April 16, 2020 by Editor-in-Chief
Cases Per Condition
[By staff reporters]
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Filed under: Glossary Terms, Health Economics, LifeStyle | Tagged: corona, Covid-19, pre-existing corona conditions | 3 Comments »
WHAT IS “CONTACT TRACING” IN PUBLIC HEALTH?
Posted on April 9, 2020 by Editor-in-Chief
WHAT IS “CONTACT TRACING” IN PUBLIC HEALTH?
Courtesy: www.CertifiedMedicalPlanner.org
When a patient tests positive, you make a list of everyone they came in close contact with. Then, you find those people and make sure they self-isolate before infecting others.
That sounds straightforward, but contact tracing a new patient typically takes three days, which is “an insurmountable hurdle in the U.S., with its low numbers of public health workers and tens of thousands of new cases every day.”
ELSEWHERE: South Korea used high-tech contact tracing to tame its outbreak. The government compiled GPS data, credit card swipes, and other info into a public log showing where COVID-19 patients had traveled.
Some countries (including the U.S.) are trying other methods, including looking at smart-phone location data and developing Bluetooth systems that provide warnings if you’ve crossed paths with an infected person.
PROBLEMS: Despite its widespread use in places like Singapore, contact tracing has raised concerns about privacy and governments following citizens’ whereabouts.
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PODCAST: https://www.youtube.com/watch?v=hlHCLXv2HQs
PODCAST: https://www.youtube.com/watch?v=CQBO_DHBtzw
And so, Contact Tracing is a term you’ll be hearing a lot more of in the coming weeks.
Assessment: Your thoughts and comments are appreciated.
BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXO
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Filed under: Glossary Terms, Health Insurance, iMBA, Inc. | Tagged: contact tracing, corona virus, Covid-19, public health | 6 Comments »
What is a BALACLAVA?
Posted on April 4, 2020 by Editor-in-Chief
What is a Balaclava; Anyway?
Courtesy: www.CertifiedMedicalPlanner.org
By Dr. David E. Marcinko MBA CMP®
What it is?
A Balaclava, also known as a balaclava helmet or Bally or ski mask, is a form of cloth headgear designed to expose only part of the face, usually the eyes and mouth.
Now, depending on style and how it is worn, only the eyes, mouth and nose, or just the front of the face are unprotected. Versions with a full face opening may be rolled into a hat to cover the crown of the head or folded down as a collar around the neck.
Here is my version for the Corona Virus pandemic! Glasses and a mouth cover complete the look and proposed utility.
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So, I’ve written 30 major medical, business, economics and finance textbooks including three dictionaries of 30,000 peer-reveiwed terms. But, this was a new word previously unknow to me. How about you?
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RUNNER-UPS
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ASSESSMENT: Your thoughts and comments are appreciated.
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BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs
THANK YOU
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