What is “Prudence” in Finance and Investment Management?

ON “PRUDENCE” IN FINANCE AND INVESTMENT MANAGEMENT
Courtesy: http://www.CertifiedMedicalPlanner.org

CMP logo

TERMS & DEFINITIONS FOR PHYSICIANS AND ALL INVESTORS:

PRUDENT BUYER: The efficient purchaser of market balance between value and cost.

PRUDENT MAN RULE: An 1830 court case stating that a person in a fiduciary capacity (a trustee, executor, custodian, etc) must conduct him/herself faithfully and exercise sound judgment when investing monies under care. “He is to observe how men of prudence, discretion and intelligence manage their own affairs, not in regard to speculation, but in regard to the permanent distribution of their funds, considering the probable income as well as the probable safety of the capital to be invested.” Allows for mutual funds and variable annuities.

PRUDENT INVESTOR RULE: A fiduciary is required to conduct him/herself faithfully and exercise sound judgment when investing monies and take measured and reasonable investment risks in return for potential future rewards. Allows for mutual funds, stocks, bonds, variable annuities asset allocation & Modern Portfolio Theory.

CITATION: https://www.r2library.com/Resource/Title/0826102549

Product Details

UNIFORM PRUDENT INVESTOR ACT: https://medicalexecutivepost.com/2011/02/18/the-uniform-prudent-investor-act-versus-fiduciary-accountability/

EDITOR’S NOTE: We interviewed noted authority Ben Aikin AIF® on this topic more than a decade ago. He was ahead of his time regarding fiduciary accountability and we appreciate his insights.

Dr. David Edward Marcinko MBA CMP®

[Editor-in-Chief]

INTERVIEW: https://medicalexecutivepost.com/2009/03/01/an-interview-with-bennett-aikin-aif/

FIDUCIARY OATH: http://www.thefiduciarystandard.org/wp-content/uploads/2015/02/fiduciaryoath_individual.pdf

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

ORDER Textbook: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

SECOND OPINIONS: https://medicalexecutivepost.com/schedule-a-consultation/

INVITE DR. MARCINKO: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

THANK YOU

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Why are CERTIFIED MEDICAL PLANNER® Textbooks SO DARN Popular?

[By Dr. David Edward Marcinko MBA CMP®]

http://www.CertifiedMedicalPlanner.org

OK – I was a Certified Financial Planner® before my academic team launched the Certified Medical Planner™ online and on-ground chartered education and board certification designation program a few years ago. I am now CFP reformed and in remission.

MORE: Enter CPMs

Enter the Certified Medical PlannerChartered Designation

Today, we are of course, gratified that Certified Medical Planner™ mark notoriety is growing organically in the healthcare, as well as financial services, industry.

Even uber-blogger Mike Kitces MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL has taken note of us in his musings on the Nerd’s Eye View website. And, the reality is that there are a growing number of CFP educational programs at the post-CFP niche market level.

But, none for healthcare industrial complex: for doctors … by doctors!

Popularity of our Text Books

However, it is our modern, innovative and proprietary Certified Medical Planner™ textbooks and dictionaries that have exploded in the academic marketplace.

In fact, they are now redacted in thousands of medical, graduate, law and B-schools and libraries, as well as colleges and universities throughout the nation. This includes the Library of Congress, National Institute of Health and  the Library of Congress.

What Gives?

We have been told that this textbook popularity and publishing success is because of their balanced and peer-reviewed nature; something not very widespread in the financial services industry that is prone to gross and overstated advertising, salesmanship and marketing hyperbole. And, for this we are very gratified.

But, is there another reason our books are so popular?

A bit of networking and research suggests that interested folks may be eschewing the actual course work in favor of just the high quality textbooks! UGH!

Another reason may be that our books and curricula are kept fresh and updated on our corporate website: http://www.MedicalBusinessAdvisors.com

Assessment

So, what do you think? Matriculation with the professional mark versus self study without the designation mark. Please opine.

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.

Book Marcinko: https://medicalexecutivepost.com/dr-david-marcinkos-bookings/

Subscribe: MEDICAL EXECUTIVE POST for curated news, essays, opinions and analysis from the public health, economics, finance, marketing, IT, business and policy management ecosystem.

DOCTORS:

“Insurance & Risk Management Strategies for Doctors” https://tinyurl.com/ydx9kd93

“Fiduciary Financial Planning for Physicians” https://tinyurl.com/y7f5pnox

“Business of Medical Practice 2.0” https://tinyurl.com/yb3x6wr8

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™

Product DetailsProduct Details

HOSPITALS:

“Financial Management Strategies for Hospitals” https://tinyurl.com/yagu567d

“Operational Strategies for Clinics and Hospitals” https://tinyurl.com/y9avbrq5

Product DetailsProduct Details

Adult Learners and Students:

Product DetailsProduct DetailsProduct Details

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Dictionary Health Insurance and Managed Care

FOREWORD: https://healthcarefinancials.files.wordpress.com/2007/10/mike-stahl-phd-mba.pdf

More on Concierge, Retail, Cash Pay and Boutique Medicine; etc [SAM’S CLUB]

Sam’s Club Launches Innovative Pilot to Help Make Healthcare More Affordable

 

cropped-dem

By Dr. David E. MarcinkoMBA

I devoted a full chapter of my book; “The Business of Medical Practice” to concierge and boutique medicine, retail medicine, direct, cash and private pay medicine; etc. We included terms and definitions, process and methodologies, marketing and advertising, and examples, etc. In fact, who knew I was so prescient and the landscape would finally begin evolving.

For example, we recently learned about Sam’s Club offering targeted “bundles” of health care services collaborating with Humana. https://lnkd.in/ejHGGzk

And, earlier, we learned of Amazon’s new virtual / primary care clinic model. And of course, in the past couple of weeks, Walmart’s (Sam’s affiliate) opening their freestanding clinics, along with new behavioral health services, as well.

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Assessment: Your thoughts are appreciated.

THANK YOU

Product DetailsProduct Details

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What is “Clinical Equipoise” in Medicine?

Equipoise

[By staff reporters]

Clinical equipoise, also known as the principle of equipoise, provides the ethical basis for medical research that involves assigning patients to different treatment arms of a clinical trial.

The term was first used by Benjamin Freedman in 1987, although references to its use go back to 1795 by Dr. Edward Jenner. In short, clinical equipoise means that there is genuine uncertainty in the expert medical community over whether a treatment will be beneficial. This applies also for off-label treatments performed before or during their required clinical trials.

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MORE:

https://www.ahajournals.org/doi/full/10.1161/CIRCRESAHA.116.309594

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World Bi-Polar Day 2021

By staff reporters

Bipolar disorder, formerly called manic depression, is a mental health condition that causes extreme mood swings that include emotional highs (mania or hypomania) and lows (depression).

When you become depressed, you may feel sad or hopeless and lose interest or pleasure in most activities. When your mood shifts to mania or hypomania (less extreme than mania), you may feel euphoric, full of energy or unusually irritable. These mood swings can affect sleep, energy, activity, judgment, behavior and the ability to think clearly.

Episodes of mood swings may occur rarely or multiple times a year. While most people will experience some emotional symptoms between episodes, some may not experience any.

Although bipolar disorder is a lifelong condition, you can manage your mood swings and other symptoms by following a treatment plan. In most cases, bipolar disorder is treated with medications and psychological counseling (psychotherapy).

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The Diderot Effect?

What is it?

[By staff reporters]

The Diderot Effect is a social phenomenon related to consumer goods. It is based on two ideas.

The first idea is that goods purchased by consumers will align with their sense of identity, and, as a result, will complement one another.

The second idea states that the introduction of a new possession that deviates from the consumer’s current complementary goods can result in a process of spiraling consumption.

The term was coined by anthropologist and scholar of consumption patterns Grant McCracken in 1988, and is named after the French philosopher Denis Diderot, who first described the effect in an essay.

MORE: https://medicalexecutivepost.com/2021/01/25/the-prosperity-paradox/

Assessment

Your thoughts are appreciated.

Thank You

***

Primary Care Provider – Eliminating the Term

Eliminating the Term Primary Care “Provider”

Consequences of Language for the Future of Primary Care

By Allan H. Goroll, MD

LINK:

https://jamanetwork.com/journals/jama/article-abstract/2506307

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BUSINESS & MANAGEMENT TEXTBOOKS OF INTEREST TO SAVVY PHYSICIANS

BUSINESS & MANAGEMENT TEXTBOOKS OF INTEREST TO SAVVY PHYSICIANS
Courtesy: https://lnkd.in/eBf-4vY

Health Economics, Finance, Accounting, Investing, HR and Insurance; etc.
BOOKS: https://lnkd.in/dys_xQz

 


INVITATION: https://lnkd.in/d2SefCY
SPEAKING TOPIC LIST: https://lnkd.in/e7WrDj9
MY “AVATAR”: https://lnkd.in/d6BU-TQ
Thank You
***

Correlation is NOT Causation

“CORRELATION DOES NOT IMPLY CAUSATION”
Courtesy: https://lnkd.in/eBf-4vY
Repeat After Me!

DEFINITION: The phrase “correlation does not imply causation” refers to the inability to legitimately deduce a cause-and-effect relationship between two events or variables solely on the basis of an observed association between them.
DICTIONARYhttps://lnkd.in/dqdbWM9

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LOGIC FALLACY: The idea that “correlation implies causation” is an example of a questionable-cause logical fallacy, in which two events occurring together are taken to have established a cause-and-effect relationship.

This fallacy is also known by the Latin phrase cum hoc ergo propter hoc (‘with this, therefore because of this‘). This differs from the fallacy known as post hoc ergo propter hoc (“after this, therefore because of this”), in which an event following another is seen as a necessary consequence of the former event, and from conflation, the errant merging of two events, ideas, databases, etc., into one.

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
1 – https://lnkd.in/ebWtzGg
2 – https://lnkd.in/ezkQMfR
3 – https://lnkd.in/ewJPTJs
THANK YOU
***

Dictionary of Health Information Technology and Security

ADVERTISEMENT

Whither the “Dictionary of Health Information Technology and Security?”

DHITS

A simple query that demands a cogent answer!

There is a myth that all stakeholders in the healthcare space understand the meaning of basic information technology jargon. In truth, the vernacular of contemporary medical information systems is unique, and often misused or misunderstood. It is sometimes altogether confounding.

Terms such as, “RSS”, “eHRs”, “DRAM”, “ROM”, “USB”, “PDA”, “NPI”, “CCHIT”, and “DNS” are common acronyms, but is their meaning AND functionality truly understood?

We appreciate the support of our sponsors. So, click-on on the links below and review all dictionary products.

Link: http://healthdictionaryseries.com/TechnologySecurity.aspx

HDS

 

 

 

Link: http://www.findbookprices.com/author/Hope_Hetico

Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest ME-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.

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Sponsors Welcomed

And, credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

Dictionary of Health Economics and Finance

DICTIONARY OF HEALTH ECONOMICS AND FINANCE
Courtesy: https://lnkd.in/eBf-4vY
DHEF: https://lnkd.in/dqdbWM9

FOREWORD: https://healthcarefinancials.files.wordpress.com/2007/10/dr-getzen.pdf

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“DICTIONARY OF TERMS FOR THE BUSINESS OF MEDICINE”
DHIMC: https://lnkd.in/e9AmEhd
DHITS: https://lnkd.in/eWx3WjZ
MORE: https://lnkd.in/eVGcji5
Thank You
***

Parkinson’s Law of Triviality in Time Management, Economics and Finance

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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PODCAST: https://www.bing.com/videos/search?q=Parkinson%e2%80%99s+law+of+Triviality+&ru=%2fvideos%2fsearch%3fq%3dParkinson%25e2%2580%2599s%2blaw%2bof%2bTriviality%2b%26FORM%3dHDRSC3&view=detail&mid=68638E496B0523EA379368638E496B0523EA3793&&FORM=VDRVRV

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

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

What is Anscombe’s Quartet?

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.

LINK: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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!

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PODCAST: https://www.bing.com/videos/search?q=Anscombe%e2%80%99s+Quartet%3a+&&view=detail&mid=68A62E7AB26B2B6EE69668A62E7AB26B2B6EE696&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3DAnscombe%25e2%2580%2599s%2BQuartet%253a%2B%26FORM%3DHDRSC3

Assessment: Your thoughts and comments are appreciated.

Product DetailsProduct DetailsProduct Details

BUSINESS TEXTS FOR PHYSICIAN-EXECUTIVES AND MEDICAL CXOs

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

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COVID-19’s Impact on Mental Health and Workplace Well-being

Pandemic Mental Health

By NIHCM

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https://nihcm.org/publications/covid-19s-impact-on-mental-health-and-workplace-well-being?utm_source=NIHCM+Foundation&utm_campaign=a03fb2164b-EMAIL_CAMPAIGN_2020_12_03_03_17&utm_medium=email&utm_term=0_6f88de9846-a03fb2164b-167744768

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

Health Economics and Finance

THE BUSINESS OF MEDICAL PRACTICE AND HOSPITAL MANAGEMENT

BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:
1 – https://lnkd.in/ebWtzGg
2 – https://lnkd.in/ezkQMfR
3 – https://lnkd.in/ewJPTJs

HOSPITAL MANAGEMENT & BUSINESS TEXTS FOR PHYSICIANS AND CXOs:

1 – https://lnkd.in/eEf-xEH 2 – https://lnkd.in/e2ZmewQ

“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

THANK YOU
******

Systemic Racism & Health Care, COVID & Treatment

COVID-19 [NIHCM]

By staff reporters

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https://nihcm.org/publications/systemic-racism-health-care-covid-treatment?utm_source=NIHCM+Foundation&utm_campaign=c7ef174251-EMAIL_CAMPAIGN_2020_12_02_02_53&utm_medium=email&utm_term=0_6f88de9846-c7ef174251-167744768

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Corona Virus [Pictorial] Update?

An Info-Graphic?

By Staff Reporters

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Economic “Schools of Thought”

Competing Philosophies

By staff reporters

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HOLACRACY versus HEIRARCHY

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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THE DIFFERENT SCHOOLS OF PSYCHOLOGY

Five [5] Schools

By staff reporters

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Update on ARTIFICIAL INTELLIGENCE [A.I.]

Future Fate: YES -or- NO?

[By staff reporters]

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About Acute Pericarditis?

Diagnosis and Treatment

By staff reporters

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Our “Regret” Principles

Understanding the “Misery Index”

By Dan Ariely PhD

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Update on Medical “Prior Authorization”

Survey Highlights on Pre-Certification

By wedi

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Product Details

“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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How to Delegate Authority?

Do’s and Don’ts

By staff reporters

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20 Cognitive Biases That Affect Decision Making

Screwed-Up Decision Making

[By Staff reporters]

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Executive Order Expands Tele-Medicine

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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TH

The Economic Impact of Lung Disease

Among U.S. Workers

By http://www.MCOL.com

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MICRO versus MACRO Economics

The Differences in Chart Form

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EMR ‘versus’ EHR

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:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

The Top 15 “Evolutions of Learning”

BEFORE versus FUTURE

By staff reporters

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Type I Errors VERSUS Type II Errors [Medical Testing]

False Positive VERSUS False Negative Tests

By Staff reporters

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What is an Adaptive COVID-19 Trial?

How it Works

By staff reporters

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SPEAKING INVITATION TOPIC LIST: 

https://lnkd.in/e7WrDj9

About Rebecca Crumpler MD

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:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

NASDAQ 100

BIGGEST STOCKS [COMPANIES]

Courtesy: www.CertifiedMedicalPlanner.org

Enter the CMPs

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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0 (1)

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BUSINESS, FINANCE, INVESTING AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

New Index Ranks Hospitals’ Community Benefit


N
ew 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:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

VENTILATORS

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:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

ANOSMIA, HYPERSOMIA, AGEUSIA, HYPOGEUSIA, DYSGEUSIA and the CORONA VIRUS?

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:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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Healthcare and the Pandemic

Click to access AMCP-ACHP-Consumer-Polling-Data.pdf

WHAT IS THE VELOCITY OF MONEY?

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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WHAT IS A “VACCINE ENHANCED IMMUNE RESPONSE”?

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.

LINK: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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.

LINK: https://www.cidrap.umn.edu/news-perspective/2019/12/study-confirms-better-immune-response-flu-vaccines-aimed-seniors

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

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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THE “Rational” AND “Adaptive” Expectations Theory

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

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

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Medical Practice “Prior Authorizations”

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.

LINK: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

Active v. Passive v. Acquired Immunity

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.

LINK: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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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WILL THE CORONA VIRUS PANDEMIC DECIMATE THE L.T.C.I. INDUSTRY?

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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“UNIVERSAL PRECAUTIONS” EXISTED LONG BEFORE THE CORONA VIRUS

WHAT’S OLD – IS NEW AGAIN?

Courtesy: www.CertifiedMedicalPlanner.org

cropped-dem

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.

LINK: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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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PODCAST: https://www.bing.com/videos/search?q=universal+precautions&&view=detail&mid=CF8A605C252259D0DA6FCF8A605C252259D0DA6F&&FORM=VRDGAR&ru=%2Fvideos%2Fsearch%3Fq%3Duniversal%2Bprecautions%26FORM%3DHDRSC3

ASSESSMENT: Your thoughts and comments are appreciated.

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SDOH – Building the Case

Why SDOH?

[By MCOL.com and staff reporters]

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Global Death Statistics

January – March 2020

[By staff reporters]

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Assessment: Your thoughts are appreciated.

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