How to Overvalue a Company?

Posted on May 28, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Use Discounted Cash Flow Analysis

By Michael at: https://valuestockgeek.com

***

How to Overvalue a Company: Use Discounted Cash Flow Analysis

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:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Leave a comment »

Long Term Capital Management and the Dangers of Debt

Posted on May 26, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Beware Debt – and REMEMBER!

By Michael at: https://valuestockgeek.com

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Long Term Capital Management and the Dangers of Debt

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Leave a comment »

Your Politics and Your Portfolio Do Not Mix

Posted on May 24, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

On Politics and Money

By Michael at: https://valuestockgeek.com

***

Your Politics and Your Portfolio Do Not Mix

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Leave a comment »

About USAFACTS.com

Posted on May 4, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

About the Website: USAFACTS.com

By Staff Reporters

Principles

USAFacts is a new data-driven portrait of the American population, our government’s finances, and government’s impact on society. They are a non-partisan, not-for-profit civic initiative and have no political agenda or commercial motive. They provide this information as a free public service and are committed to maintaining and expanding it in the future.

USA FACTS rely exclusively on publicly available government data sources. They don’t make judgments or prescribe specific policies. Whether government money is spent wisely or not, whether our quality of life is improving or getting worse – that’s for you to decide. They hope to spur serious, reasoned, and informed debate on the purpose and functions of government. Such debate is vital to our democracy. They hope that USAFacts will make a modest contribution toward building consensus and finding solutions.

More

There’s more to USAFacts than their website. They also offer an annual report, a summary report, and a “10-K” modeled on the document public companies submit annually to the SEC for transparency and accountability to their investors.

***

Innspiration

USAFacts was inspired by a conversation Steve Ballmer [former CEO Microsoft Corporation] had with his wife, Connie. She wanted him to get more involved in philanthropic work. He thought it made sense to first find out what government does with the money it raises.

Assessment

Where does the money come from and where is it spent? Whom does it serve? And most importantly, what are the outcomes?

Visit: http://www.USAFACTS.com

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: Experts Invited, Funding Basics, iMBA, Inc. | Tagged: microsoft, MSFT, Steve Ballmer, www.USAFACTS.com | Leave a comment »

Ten Fascinating [Medical-Technical-Commercial] Things

Posted on May 2, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Ten Fascinating Things

By MIT Technology Review

Doctors have kept fetal lambs alive in plastic artificial wombs for weeks, a technology that could soon help improve the care of premature babies.
Google is t weaking its search algorithms and adding new reporting tools in order to help tackle fake news and offensive content.
One of the best ways to learn is to ask someone for advice when you’re confused—which is exactly what this robot is able to do.
Uber has ambitiously promised that its flying taxi vision will become a reality by 2020. (Relatedly: is it time we stopped calling these things flying cars?).
By using lasers to identify the distinctive noises made by the beating wings of mosquitos, researchers might be able to find new ways to fight malaria.
Boston Dynamics, the manufacturer of many a nightmarish robot, has been testing its mechanical dog, Spot, for package delivery in Boston.
These tiny finger wearables let people touch what’s not there in virtual reality.
Tiny water droplets in fog scatter light, making it impossible for us to see. But a new trick could overcome that to help lidar work better in extreme weather.
China has built and launched its first ever homegrown aircraft carrier—a very public flex of its increasingly advanced technological muscle.
An artificial intelligence scriptwriter produced every line for David Hasselhoff to act out in this very strange short short film. It’s as surreal as it sounds.

***

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Filed under: Experts Invited, iMBA, Inc. | Tagged: MIT Technology Review | 1 Comment »

On Economic Information Avoidance

Posted on May 1, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

“Your reality is not my reality”

By Rick Kahler CFP®

As a young girl my daughter once told me, “Dad, your reality is not my reality.” While at the time I thought it was a cute quip, many years later I am still learning the depth of truth it contains.

One recent reminder is a study published in the Journal of Economic Literature by Russell Golman, David Hagmann, and George Loewenstein of Carnegie Mellon University. Their research found that “information avoidance” is one of the leading reasons people often have widely varying views of what seem like inarguable facts.

Take the issue of well-being, which includes our financial, physical, and emotional health. There is no lack of pertinent data, research, and information available to us that could enhance our well-being. Almost anything we would want to know about making sound financial decisions, maximizing our physical health, improving our relationships, and living a fulfilled life is available with a Google search.

Interrogatory?

Why, then, would 75% of Americans have to borrow or sell something to raise $1,000 cash? Why are two-thirds of Americans overweight? Why do millions suffer from depression?

According to a March 10, 2017, article at ScienceDaily.com about the Carnegie Mellon study, people make use of very little of the information available to them. In fact, we deliberately avoid information that would enhance our well-being. Why? Because we perceive that information which conflicts with our beliefs or perception of reality will actually threaten what happiness and well-being we perceive we have. It’s reminiscent of the line, “Please don’t confuse me with the facts.”

Loewenstein maintains that if we view things logically,

“. . . people should seek out information that will aid in decision making, should never actively avoid information, and should dispassionately update their views when they encounter new valid information. But people often avoid information that could help them to make better decisions if they think the information might be painful to receive.”

Example:

For example, take one component of financial well-being, becoming financially independent by age 65. If people want to believe they are on track to accomplish this, but fear having to make restrictive and painful adjustments to their current lifestyle if they are not, they may be reluctant to even contact a financial professional to find out the true state of their finances. Instead, we will often grasp at questionable beliefs like, “I will just continue to work in retirement,” even though the evidence shows that only 21% of people are able to work after age 65.

Even when some people find information that conflicts with their tightly held beliefs, they often ignore the information by discounting the source or motivations. “You can’t believe everything you read,” is a common way we discount conflicting information.

Information avoidance can not only harm our individual well-being, it also plays a part in harming our societal well-being. Says Hagmann, “An implication of information avoidance is that we do not engage effectively with those who disagree with us.” Avoiding both people and information that don’t align with our biases is one driver of the political polarization currently splitting the U.S.

He goes on to say, “Bombarding people with information that challenges their cherished beliefs—the usual strategy that people employ in attempts at persuasion—is more likely to engender defensive avoidance than receptive processing.”

***

Assessment

My years of experience with clients certainly supports the futility of trying to help people change their financial behavior by telling them what they “should” know or do. Instead, it is far more useful to listen to their beliefs, fears, and goals, and to suggest options and offer encouragement to help them discover their own paths toward financial well-being.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: Carnegie Mellon University, David Hagmann, George Loewenstein, information avoidance, Journal of Economic Literature, Rick Kahler CFP®, Russell Golman | Leave a comment »

On Health Plan Member Communications

Posted on April 24, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Communication Plan Improvements

http://www.MCOL.com

***

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: health plan communications, Health plan member engagement, www.MCOL.com | Leave a comment »

Royal College of General Practitioners Recommend: “Risk Management, Liability Insurance and Asset Protection Strategies for Doctors and Advisors”

Posted on April 22, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

RECOMMENDATION

***

Risk Management Liability Insurance and Asset Protection Strategies for Doctors and Advisors

It is not uncommon for practicing physicians to have more than a dozen separate insurance policies to protect their medical practice and personal assets. Yet, most doctors understand very little about their policies.

The book RISK MANAGEMENT, LIABILITY INSURANCE AND ASSET PROTECTION STRATEGIES for DOCTORS and ADVISORS [Best Practices from Leading Consultants and Certified Medical Planners™] explains to physicians and insurance professionals the background, theory, and practicalities of medical risk management, asset protection methods, and insurance planning.

The text presents information in a manner that is convenient and highly useful for busy medical practitioners. It discusses the medical records revolution and addresses concerns regarding cloud computing, data security, and technological threats.

The book covers modern health law and policy, including fraud and abuse, workplace-violence, Medicare compliance, HIPAA regulations, AR protection strategies with internal controls, P4P and value based care, insurance and reputation management, and how the ARA legislation is impacting physician practices.

It also includes case models and examples that provide you with a real-world understanding of how to recognize and reduce personal and medical practice risks.

With time at a premium for all, and so much information packed into one well-organized resource, this book is a must-read for every physician and financial advisor that serves the health care sector. The book will help physicians make better decisions about the risks they face and will help financial advisors improve the value they provide to their clients who are doctors.

http://www.CertifiedMedicalPlanner.org

DR. DAVID EDWARD MARCINKO MBS CMP®

ISBN Number: 9781498725989

Number of pages: 748

Publisher: CRC Press

Published: 2018

Dr. Boyd MD PhD MA for Dr. Marcinko

Risk Management Liability Insurance and Asset Protection Strategies for Doctors and Advisors

AWARDS

Invite Dr. Marcinko

***

Filed under: "Advisors Only", "Doctors Only", Book Reviews, CMP Program, iMBA, Inc., Risk Management | Tagged: certified medical planner, CMP™ Class, Marcinko, Risk Management Liability Insurance and Asset Protection Strategies for Doctors and Advisors | 3 Comments »

2017 Outlook for the equity and fixed income markets

Posted on April 13, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Stabilization, not stagnation [Expect modest returns]

By The Vanguard Group

2017 Economic and market outlook

We’ve seen only a modest global recovery—at times frustratingly fragile—since the global financial crisis.

In the United States, for example, the economy has grown at an average annual rate of about 2.00%, whereas growth since 1950 has averaged an annual rate of 3.25%. Based on market and economic conditions, our outlook for the equity and fixed income markets is the most guarded it has been in ten years.

***

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: 2017 outlook for the equity markets, 2017 outlook for the fixed income markets, Vanguard Group | 2 Comments »

POLL: Should the Government Pay for Health Care?

Posted on April 10, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

A VOTING POLL

Most young people say gov’t should pay for health care
[By Staff reporters]

Most young Americans want any health care overhaul under President Donald Trump to look a lot like the Affordable Care Act signed into law by his predecessor, President Barack Obama.

But there’s one big exception: A majority of young Americans dislike the “Obamacare” requirement that all Americans buy insurance or pay a fine.

In fact, a GenForward poll says a majority of people ages 18 to 30 think the federal government should be responsible for making sure Americans have health insurance. It suggests most young Americans won’t be content with a law offering “access” to coverage, as Trump and Republicans in Congress proposed in doomed legislation they dropped on March 24. The Trump administration is talking this week of somehow reviving the legislation.

NOTE: Conducted Feb. 16 through March 6, before the collapse of the GOP bill, the poll shows that 63 percent of young Americans approve of the Obama-era health care law. It did not measure reactions to the Republican proposal.

http://www.msn.com/en-us/news/politics/poll-most-young-people-say-govt-should-pay-for-health-care/ar-BBzmVny?li=BBnbcA1

Do you agree?

VOTE NOW!

***

Filed under: Health Insurance, iMBA, Inc., Voting Polls | Tagged: ACA, GenForward, Should the Government Pay for Health Care? | Leave a comment »

Medical Practice as a New Asset Class?

Posted on April 8, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

ORIGINAL RESEACH PUBLICATION SUBMISSION

[Medical Practice as a New Asset Class?]

By Ann Miller RN MHA

Academics and the financial services industry uses Modern Portfolio Theory [MPT] and the Capital Asset Pricing-Model [CAP-M] to make optimal investment allocations of different ‘asset’ classes to achieve a well balanced portfolio; according to some defined risk tolerance level or efficient frontier.

Assets

Equities, fixed income, real-estate, emerging markets, etc., are all asset classes into which investors, mutual, hedge fund or portfolio managers allocate capital. It is quite proper for them to do this as they seek to balance risk and potential returns.

And so, by creating a “new” asset class [medical practice], this concept opens the door to significant capital flows, advisory and management fees; if securitized-OR- at least help dampen portfolio risk for the individual physician executive investor.

Example:

As an example of this emerging new thought leadership, some consider Social Security income an alternate asset class; while others like Paul Merriman [from a [Seattle-based investment advisory firm and Western Washington University’s School of Business and Economics] suggest that it is not an asset class at all. The idea is fundamentally flawed and should not be a part of anyone’s portfolio.

Why? As classically defined, a financial asset is something that can be sold. Since Social Security cannot be sold, it has a market value of zero.

Assessment

However, in as much as a medical practice can be sold, the definition of “asset class” appears corroborated. Thus, the proper valuation and income stream determination for this ‘new” asset class becomes paramount for investment portfolio inclusion.

PROGRESS: Un-gated white paper work-in-progress.

FREE WHITE PAPER [Is Medical Practice a New Asset Class?] from iMBA, Inc.

SUBMISSION: To the Journal of Health Care Finance: Editorial team: J. Cawley, M. Chalkley, M.E. Chernew, D. Cutler, M. Lindeboom and E. Meara, N. Elsevier, NY

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Full Disclosure: I was interim editor of the Journal of Health Care Finance during the sabbatical of Founding Editor-in-Chief, James Unland PhD, about a decade ago.

***

Filed under: iMBA, Inc., Investing, Research & Development, Touring with Marcinko | 1 Comment »

R.I.P. Richard Wagner JD CFP®

Posted on April 4, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

On the Life of “Dick” Wagner

By Rick Kahler CFP®

The financial planning profession lost one of its most significant figures this past week. Richard Wagner, my friend and mentor, died suddenly.

Dick, a longtime financial planner in Colorado, was one of the pioneers and thought leaders of personal financial planning. His visionary leadership and commentary were closely followed and highly respected by financial planners worldwide.

Dick’s influence on financial planning was profound. He was one of the early leaders to understand the emotional impact that money has on our lives and to believe that financial planning must include that emotional component in order to fully serve clients’ needs. We each have an individual relationship with money, which affects everyone in all facets of our lives. For this reason, Dick called money “the most powerful and pervasive secular force on the planet.”

He served as the President of the Institute of Certified Financial Planners and received the Financial Planning Association’s (FPA) highest honor, the P. Kemp Fain, Jr. He was a co-founder of the Nazrudin Project, a leaderless brain trust of 100 of the more forward-thinking planners, therapists, and coaches in financial planning. From this group emerged many FPA presidents, as well as scores of influential books and white papers. For its size, Nazrudin has had a disproportionate and continuing impact on the financial planning profession.

Dick also served on the founding board of the Financial Therapy Association. His keynote address at the group’s first conference eloquently laid the foundation for this embryonic movement of blending psychology and financial planning.

Dick’s life work, the beloved passion he carried for decades, was to see financial planning become a profession. In fact, he envisioned financial planning as the most important 21st century profession because of its focus on money. He challenged financial planners to give their best to their clients and their profession. Even further, he urged us to build an authentic profession—one he saw as dedicated to helping people manage intangible but essential functions, maintaining a responsibility to put clients’ interest first, and serving not only individuals but humanity and the greater good. One of Dick’s last contributions to the profession was the publication of the book he labored for 20 years to write, Financial Planning 3.0.

Anyone who knew Dick for more than a minute knew that he told it like it was—with gusto, clarity, and passion. He characteristically would sum up the essence of financial planning as:

“Save more, spend less, and don’t do anything stupid.”

Most importantly, I knew him as an immensely caring, passionate, wise, and conscientious soul. He was one of my valued mentors. The scope of his ideas and the depth of his creative vision challenged me to question my assumptions and expand my own views of what my chosen profession could become.

I had the privilege of spending many weekends with Dick as a member of a small group of financial planning pioneers who were trying to make sense of this union of emotions and money. I often equated listening to Dick’s visions of “what could be” to flying a commercial airliner at 45,000 feet. While he was soaring, I would spend most of my time trying to figure out if and where we could land the plane.

Wherever he may be now, I believe Dick is still soaring—once again, far higher and farther than those of us left behind. His passing leaves me shocked and saddened, with a sense of grief not yet eased by the gratitude I feel for having known him. The financial planning profession to which he devoted so much of his life was vastly enriched by his ideas and his work.

Publisher’s Note:

Although I never personally met Dick, I do consider him a friend and colleague. We emailed and spoke on the phone, often. In fact, he contributed to the first edition of our book: Financial Planning Handbook For Physicians And Advisors; now in it’s fourth iteration: Comprehensive Financial Planning Strategies for Doctors …

Rest in peace my friend. Robert Pine said it well when he noted,

“What we have done for ourselves is soon forgotten but what we have done for others remains and is immortal.”

-Dr. David Marcinko MBA

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: Financial Planning, iMBA, Inc., Op-Editorials | Tagged: financial planning association, financial planning for doctors, Nazrudin project, Richard Wagner, Rick Kahler MS CFP® | Leave a comment »

“What’s wrong with income inequality?”

Posted on March 29, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

“What’s wrong with income inequality?”

By Rick Kahler MS CFP®,

Do you think there’s nothing emotional about money?

If so, I dare you to stand up in a town hall meeting anywhere in the US and ask, “What’s wrong with income inequality?” There is a high probability that the responses that follow may have some emotion.

Emotional

Make no mistake, money is highly emotional. That emotion isn’t about the inanimate object, the pieces of printed paper that we carry in our wallets. It’s what we project onto money that makes it intensely emotional. And usually what we project isn’t about the money at all.

Consider, for example, envy and jealousy. On the surface, these emotions seem to signify we are not grateful for what we have and that the cure is to focus on what we do have. There’s an element of truth to that, but telling yourself to stop being jealous and instead be grateful probably doesn’t work for long. If you are like most of us, the jealousy is soon back.

The reason is that envy and jealousy are not about what we have, but rather about what we don’t have or we fear losing. Underneath envy is fear that I won’t get something I desire which is enjoyed by another. Suppose I am envious of a friend who lives in a bigger house. Underlying that is fear, perhaps a fear that I am failing my family by not providing enough space for them to live comfortably.

Underneath jealousy is also fear, but this fear is often masked by anger that someone else is getting something that is rightfully yours. I may be jealous of a coworker because they got a job promotion that I felt I deserved. Underlying my resentment of my coworker’s success is fear that my contributions to the company are not valued and that my job isn’t secure.

Similarly, I may feel jealous of someone who earns much more than I do. I may be resentful that they enjoy privileges, a lifestyle, or security that I rightfully deserve. Or I may believe that the money they have accumulated was wrongfully taken from others and that if they continue to accumulate wealth, mine may be next. I may fear for my very survival.

***

The “one-percenters”

Such fears may drive a good portion of the anger toward the so-called “one-percenters.” If my physical and emotional needs are satisfied and I am happy with my life, do I care if someone else has more? Probably not.

But if my physical needs are not met, I am unhappy, and I feel that the money I am entitled to has been taken from me by those that have money, I care a lot. In fact, I can be rage-ful and jealous.

According to a January 17. 2017 article by Amanda Hirsh at unstuck.com, envy and jealousy can be a gift, a trailhead of sorts that can lead us to an unconscious fear. Once we uncover the fear we can often take concrete steps to resolve it, rather than wasting precious energy being stuck in anger and rage toward others.

Hirsh suggests that, the next time you feel yourself becoming envious or jealous, you consider it an opportunity to ask yourself three questions:

What am I afraid of?
What do I really want?
Why do I want that?

Assessment

These are not easy questions to answer. It may be best not to consider them when you are already triggered and consumed by the emotion, but to wait until you are calmer and in a more reflective place. Then the answers may help you move past the jealousy and shift your focus to your own options.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: Income Inequality, money emotions, Rick Kahler CFP® | Leave a comment »

DR. MARCINKO SEEKING UNIVERSITY FACULTY APPOINTMENT

Posted on March 13, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Crowd Sourcing My Job Search – An Academic Social Media Experiment?

Dr. David Edward Marcinko MBBS DPM MBA MEd BSc CMP®

Any New Year typically brings to mind the passage of Father Time.

And, as a former endowed chairman and distinguished Business School professor of capitalism, health economics, policy and management; it’s hard to believe that I’ll be finishing up my current visiting scholar-on-sabbatical tenure after this Spring semester.

So, I am crowd-sourcing my next university job search as an emerging trend. It’s the career development equivalent of my just launched WIKI health dictionary project.

HDS

HEALTH INSURANCE, MANAGED CARE, ECONOMICS, FINANCE AND HEALTH INFORMATION TECHNOLOGY COMPANION DICTIONARY SET

http://www.HealthDictionarySeries.org

Regardless of the job search, check it out and tell me what you think!

Comprehensive Curriculum Vitae

http://www.DavidEdwardMarcinko.com

***

Filed under: Breaking News, Career Development, iMBA, Inc., Touring with Marcinko | Tagged: David Edward Marcinko, health dictionary series | 1 Comment »

WEBINAR on Medical Office Sexual Harassment Issues

Posted on March 11, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

About MentorHealth

MentorHealth, the sponsor of this webinar, is a comprehensive training source for healthcare professionals that is high on value, but not on cost. MentorHealth is the right training solution for physicians and healthcare professionals. With MentorHealth webinars, doctors can make the best use of time, talent and treasure to benefit their continuing professional education needs.

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Romantic Patient Advances

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Presented By

Professor David Edward Marcinko

March 13, 2017

Romantic Patient Advances

***

Overview: Within the medical practice, clinic, hospital or university setting, faculty and supervisors exercise significant power and authority over others. Therefore, primary responsibility for maintaining high standards of conduct resides especially with those in faculty and supervisor positions. Members of the medical faculty and staff, including graduate assistants, are prohibited from having “Amorous Relationships” with students over whom they have “Supervisory Responsibilities.” “Supervisory Responsibilities” are defined as teaching, evaluating, tutoring, advocating, counseling and/or advising duties performed currently and directly, whether within or outside the office, clinic or hospital setting by a faculty, staff member or graduate assistant, with respect to a medical, nursing or healthcare professional student. Such responsibilities include the administration, provision or supervision of all academic, co-curricular or extra- curricular services and activities, opportunities, awards or benefits offered by or through the health entity or its personnel in their official capacity.

Employees are prohibited from having “Amorous Relationships” with employees whom they supervise, evaluate or in any other way directly affect the terms and conditions of the others’ employment, even in cases where there is, or appears to be, mutual consent.

Date : Monday, March 13, 2017 10:00 AM PST | 01:00 PM EST

Duration : 60 Minutes

Price : $139.00

Romantic Patient Advances

Areas Covered in the Session:

Consensual Amorous Relationships Defined
Handling Patient Advances
Signs of Flirtatious Behavior and Discouragement
Sexual Harassment Defined
Preferential Treatment
Un Reasonable Interference with Performance
Two-Pronged Test Approach
Offensive Behavior
Gender Based Animosity
Same Sex Harassment
Employer Liability
Disciplinary Actions
Tangible Employment Actions
Punitive Damages
Financial and Economic Costs

Who Will Benefit:

Physicians
Dentists
Podiatrists
Osteopaths
Pharmacists
Nurse Practitioners
Physician Assistants
All Clinical and Allied Healthcare Providers
Attorneys
Risk and Medical Compliance Managers
Health Insurance Agents

SIGN-UP HERE

Romantic Patient Advances

REGISTRATION

***

WEBINAR NOTE: These are online interactive training courses using which, professionals from any part of the world have the opportunity to listen to and converse with some of the best-known experts in the HR Industry. These are offered in live & recorded format for single & multiple users (corporate plans ). Under recorded format each user gets unlimited access for six months. Corporate plans give you the best return on your investment as we do not have upper limit on the number of participants who can take part in webinar.

***

Filed under: iMBA, Inc., Risk Management, Touring with Marcinko, Videos | Tagged: Amorous Relationships Relationships, david marcinko, MentorHealth, Romantic Patient Advances, Sexual Harassment Issues | Leave a comment »

Just Because You’re Rich, It Doesn’t Mean You Deserve to Be … Rich!

Posted on March 10, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

By Uneasy Money – a repost

Recently Brad DeLong expounded on the extent to which the earnings that accrue to individuals do not correspond to the contributions total output that can be ascribed to the personal efforts of tho…

***

Wherein Hayek Agrees with DeLong that Just Because You’re Rich, It Doesn’t Mean You Deserve to Be

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: Brad DeLong, Hayek, Just Because You're Rich, You Deserve to Be Rich | 1 Comment »

WEBINAR on a Medical Malpractice Trial for Doctors

Posted on February 6, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

About MentorHealth

THE MEDICAL MALPRACTICE TRIAL FROM THE DOCTOR’s POV

[From First Service – to Final Verdict and Emotional Relief]

***

Presented By

Professor David Edward Marcinko

February 6, 2017

A Medical Malpractice Trial From The Doctor’s Pov

***

“Even among the sciences, medicine occupies a special position. Its practitioners come into direct and intimate contact with people in their daily lives; they are present at the critical transitional moments of existence.

For many people, they are the only contact with a world that otherwise stands at a forbidding distance. Often in pain, fearful of death, the sick have a special thirst for reassurance and vulnerability to belief.”

[Source: Paul Starr – The Social Transformation of American Medicine, Basic Books].

***

When this trust is violated, whether rooted in factual substance or merely a conclusion lacking in reality, American jurisprudence offers several remedies with the core being civil litigation.

For example, we have personally witnessed a spectrum of reasons that prompts a patient to seek the counsel of an attorney. Whether it be an untoward result of treatment or surgery, an outstanding invoice being mailed to a less than happy patient who decides that the doctor did not measure up to expectations, a physician’s wife employed as the office manager charging a patient $50 to complete a medical leave authorization form, or simply a perceived lack of concern on the part of the doctor or personnel, patients can be motivated to seek redress outside the realm of the doctor’s office.

Compound any of the above scenarios with well-meaning friends and family and the proverbial prescription for litigation has been certified. Woven throughout this discourse will be suggestions that might obviate the foregoing. While it is not a panacea, nor a cure-all for medical negligence cases, we believe it to be an effective methodology for resolving those differences that see the growth of a medical malpractice lawsuit …. honest communications.

Date : Monday, February 6, 2017 10:00 AM PST | 01:00 PM EST

Duration : 60 Minutes

Price : $139.00

MORE: Malpractice Trial

Webinar Covered Topics [60-75 minutes]

Understanding What’s at Stake in Litigation · What every Doctor must Know
Steps to Take after Summon and Service Receipt · Trail Players. Burden of Proof · Types of Trials · The Discovery Process · Depositions · Motions In-Limine
Jury Selection · Opening Statements · Presentation of Evidence · Summation and Final Instructions · Jury Deliberations · The Verdict and … Relief!

Who Should Attend

Physicians, Dentists, Podiatrists, Osteopaths, Pharmacists, Nurse Practitioners, Physician Assistants, and all Clinical and Allied Healthcare Providers. Attorneys, Risk and Medical Compliance Managers, and Health Insurance Agents; etc.

Malpractice Insurance Companies, Law firms, Risk Management Consultants, Hospitals, Medical Practices, Offices and Clinics, Out Patient Treatment and representative from Ambulatory Surgical facilities; etc.

Financial advisors [FAs], Certified Financial Planners® [CFPs], Certified Medical Planners™ [CMP™], Chartered Life Underwriters [CLUs], bankers, health attorneys, and all other risk managers, insurance agents, actuaries and financial intermediaries and consultants of all stripes, degrees and general designations.

Fraternal financial services organizations like the American College of Financial Services in Bryn Mawr, PA; Certified Financial Planner Board of Standards [CFP-BOD] in Washington, DC; the College for Financial Planning [CFP] in Centennial, CO; the Financial Planning Association [FPS] and the National Association of Personal Financial Advisors as well as all US state insurance commissioner offices, etc.

***

Sign-Up Here

A Medical Malpractice Trial From The Doctor’s Pov

REGISTRATION

***

Filed under: Health Law & Policy, iMBA, Inc., Professional Liability, Risk Management, Videos | Tagged: david marcinko, Malpractice Trial Webinar for Doctors, MentorHealth, webinar | Leave a comment »

MARCINKO’s Upcoming WEBINARS from MentorHealth

Posted on January 31, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

MARCINKO’s Upcoming WEBINARS from MentorHealth

Posted on January 23, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Vital Financial Texts for Doctors

Posted on January 22, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

http://www.CertifiedMedicalPlanner.org

PHYSICIAN FOCUSED FINANCIAL PLANNING AND RISK MANAGEMENT COMPANION TEXTBOOK SET

***

[Dr. Cappiello PhD MBA] *** [Foreword Dr. Krieger MD MBA]

Front Matter with Foreword by Jason Dyken MD MBA

Enter the CMPs

***

Filed under: Book Reviews, CMP Program, Financial Planning, iMBA, Inc., Insurance Matters, Practice Management, Risk Management | Tagged: david marcinko, Financial Planning, Risk Management | Leave a comment »

Deciding Whether To Refer a Colleague to a Physician Health Program

Posted on January 12, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Given the authority that PHPs often have over the ability of physicians to practice medicine, their power is enormous and not necessarily wielded appropriately. Deciding Whether To Refer a Colleague to a Physician Health Program J. Wesley Boyd, MD, PhD Physicians should exercise caution in referring a possibly impaired colleague to a physician health progr… […]

Deciding Whether To Refer a Colleague to a Physician Health Program, Oct 15 –

AMA Journal of Ethics – J. Wesley Boyd, M.D., PhD — Disrupted Physician

***

Filed under: Ethics, iMBA, Inc. | Tagged: AMA Journal of Ethics, J. Wesley Boyd MD, PhD, Physician Health Program | Leave a comment »

Technology and Health Knowledge — Global Health information Technology

Posted on January 3, 2017 by Dr. David Edward Marcinko MBA MEd CMP™

Technology and Health Knowledge

By Kelsey and Will

I remember back in 2010 we had our annual family reunion in Arkansas at my grandparents house. My grandfather was in his rocking chair watching T.V as I sat on the couch completely engaged in whatever I was doing on my cell phone.

My grandfather looks over at me and asks, “What you got there […]

***

Technology and Health Knowledge — Global Health information Technology

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Information Technology, Videos | Tagged: Global Health information Technology, Technology and Health Knowledge | 1 Comment »

What is the Secondary Stock Market?

Posted on December 30, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

The Primary versus Secondary Stock Markets

By Dr. David E. Marcinko MBA

http://www.CertifiedMedicalPlanner.org

The purchase of common stock in an IPO (initial public offering) is facilitated through the use of members an investment bank underwriting syndicate or selling group. This is known as the primary market and the proceeds of sale go directly to the issuing company.

Six months later however, if a doctor wants to sell his shares, this would be accomplished in the secondary market. The term secondary market refers to trading in outstanding issues as the proceeds do not go to the issuer, but to the current owner of the securities, such as the physician investor.

Therefore, the secondary market provides liquidity to doctors who acquired securities in the primary market. After a doctor has acquired securities in the primary market, he wants to be able to sell the securities at some point in the future in order to acquire other securities, buy a house, or go on a vacation. Such a sale takes place in the secondary market. The medical investor’s ability to convert the asset (securities) into cash is heavily dependent upon the secondary market.

***

Assessment

All investors would be hesitant to acquire new securities if they felt they would not subsequently have the ability to sell the securities quickly at a fair price in the secondary market.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: CMP Program, iMBA, Inc. | Tagged: primary market, secondary market | Leave a comment »

On Rising Interest Rates

Posted on December 15, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

By Charles Schwab

What They Could Mean for You

The FMOC rose interest rates today.

So, what does this mean for all of us?

***

More:

Videos:

Videos of fed raises interest rates

Assessment

Be aware that although the FED does indeed control overnight and short-term IRs; it is the market-place that controls longer-term rates. So, don’t fret.

-Dr. David Edward Marcinko MBA

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Investing | Tagged: Federal Reserve Bank, FOMC, interest rates | 3 Comments »

Contribute to the Medical Executive-Post

Posted on December 10, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

Contribute to the Medical Executive-Post and Tell Us What You Think

We’re open to all kinds of related subjects on the business of medical practice, healthcare economics and finance, HIT and personal financial planning and investing for doctors and all medical professionals.

***.

***

So, if you’d like to comment or be a featured guest on our blog, or know of a great post we should feature or re-print, just let us know by emailing me!

Ann Miller RN MHA

MarcinkoAdvisors@msn.com

BROADCAST YOURSELF!

***

Filed under: iMBA, Inc. | Leave a comment »

What’s a “Tombstone”Ad?

Posted on December 1, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

Tombstone Advertising and the Securities Prospectus

By Dr. David E. Marcinko MBA CMP™

Despite certain SEC restriction, some idea of potential demand for a new securities issue can be gauged and have a bearing on pricing decisions.

For example, as CEO of a medical instrument company, or interested investor, would you rather see a great deal of interest in a potential new issue or not very much interest?

http://www.CertifiedMedicalPlanner.org

There is however, one kind of advertisement that the underwriter can publish during the cooling off period. It’s known as a tombstone ad. The ad makes it clear that it is only an announcement and does not constitute an offer to sell or solicit the issue, and that such an offering can only be made by prospectus. SEC Rule 134 of the 1933 Act itself, refers to a tombstone ad as “communication not deemed a prospectus” because it makes reference to the prospectus in the ad. Tombstones have received their name because of the sparse nature of details found in them. However, the most popular use of the tombstone ad is to announce the effectiveness of a new issue, after it has been successfully issued. This promotes the success of both the underwriter, as well as the company.

http://www.HealthDictionarySeries.org

Since distributing securities involves potential liability to the investment bank, it will do everything possible to protect itself. So, near the end of the cooling off period, a meeting is held between the underwriter and the corporation. It is known as a due diligence meeting. At this meeting they both discuss amendments that are going to be necessary to make the registration statement complete and accurate. The corporate officers and the underwriters sign the final registration statement. They have civil liability for damages that result from omissions of material facts or misstatements of fact. They also have criminal liability if the distribution is done by use of fraudulent, manipulative, or deceptive means. Due diligence takes on a whole new meaning when incarceration from a half-hearted underwriting effort; can occur. The investment bank strives to ensure that there have been no material changes to the issuer or the terms of the issue since the registration statement was filed.

Again, as a physician, how would you feel if you were an investment banker raising capital for a new pharmaceutical company that had developed a drug product that was highly marketable. But, on the day after the issue was effective, there was a major news story indicating that the company was being sued for patent infringement? What effect do you think that would have on the market price of this new issue? It would probably plunge. How could this situation have been prevented? The due diligence meeting is more than a cocktail party or a gathering in a smoke filled room. Otherwise, the company would require specially trained people, to do a patent search lessening the likelihood of this scenario. At the due diligence meeting, work is done on the preparation of the final prospectus, but the investment bank does not set the public offering price or the effective date at this meeting. The SEC will eventually set the effective date for the registration and it is on that date that the final offering price will be determined.

Once the SEC sets the effective date, sales may be executed and money can be accepted by the investment bank. It is at this time that the final prospectus, similar to the red herring but without the red ink and with the missing numbers, is issued. A prospectus is an abbreviated form of the registration statement, distributed to purchasers, on and after the effective date of the registration. It is not the same as the registration statement. A typical registration statement consists of papers that stand more than a foot high; rarely does a prospectus go beyond 40 or 50 pages. All purchasers will receive a final prospectus and then it becomes permissible for the underwriter to provide sales literature.

Two Requirements

In addition to the requirement that a prospectus must be delivered to a purchaser of new issues no later than with confirmation of the trade, there are two other requirements which physicians, medical professionals and healthcare executive investors should know.

90-day: When an issuer has an initial public offering (IPO), there is generally a lack of publicly available material relating to the operations of that issuer. Because of this, the SEC requires that all members of the underwriting group make available a prospectus on an IPO for a period of 90 days after the effective date.

40-day: Once an issuer has gone public, there are a number of routine filings that must be made with the SEC so there is publicly available information regarding the financial condition of that issuer. Since additional information is now available, the SEC requires that, on all issues other than IPOs, any member of the underwriting group must make available a prospectus for a period of 40 days after the effective date.

Assessment

In the event that the investment bankers misgauged the marketplace, and the issue moves quite slowly, it is possible that information contained in the prospectus would be rendered obsolete by the SEC. Specifically, the SEC requires that any prospectus used more than 9 months after the effective date, may not have any financial information more than 16 months old. It can however, be amended or stickered, with updated information, as needed.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: CMP Program, iMBA, Inc., Investing | Tagged: certified medical planner, David E. Marcinko, Securities Prospectus, Tombstone"Ad | Leave a comment »

Tom Price for HHS Secretary & Seema Verma for CMMS

Posted on November 30, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

***

Obamacare critic for HHS

***

Trump nominates Rep. Tom Price for HHS secretary

***

Trump picks Seema Verma to head Centers for Medicare and Medicaid Services

***

Filed under: iMBA, Inc. | Tagged: Centers for Medicare & Medicaid Services, CMS, Medicaid, medicare, Seema Verma, Tom Price | 14 Comments »

Join Us on Linked-In

Posted on November 26, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

INSTITUTE OF MEDICAL BUSINESS ADVISORS [iMBA] INC

[Capitalism, Health Care Enterprise and Entrepreneurship]

David E. Marcinko MBBS DPM FACFAS MBA MEd BSc CMP®

[Chief Executive and Education Officer]

David E. Marcinko MBBS DPM FACFAS MBA MEd BSc

***

Filed under: Breaking News, Career Development, iMBA, Inc. | Tagged: David Edward Marcinko, Dr. David Marcinko, Linked-In | Leave a comment »

Non-Native Language Perils in Health Care

Posted on November 21, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

NON-NATIVE LANGUAGE PERILS

[Staff reporters]

Communication risk to immigrants with limited non-native language proficiency is a growing concern.

With today’s higher immigrant population in the United States, more medical practices are treating patients with limited English language proficiency.

All medical professionals and clinicians now run the risk of not properly communicating medical risk information to these populations.

***

Assessment

In fact, a recent study shows that materials that include visual aids are being used by medical practices to effectively communicate with the patient.

Source: Garcia-Retamero, Rocio, and Mandeep, K. Dhami. “Pictures Speak Louder Than Numbers: On Communicating Medical Risks To Immigrants With Limited Non-Native Language Proficiency.” Health Expectations 14.(2011): 46-57. CINAHL Plus with Full Text Web 27 Apr. 2012

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Risk Management | Tagged: Garcia-Retamero, Mandeep K. Dhami, Non-Native Language Perils in Health Care | Leave a comment »

How to find a competent investment advisor?

Posted on November 17, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

By Rick Kahler MSFS CFP®

Is investing fun? Certainly—for some of us who think number-crunching is more exciting than, say, gardening or watching “Game of Thrones.” Yet, as crucial as investing is for creating financial independence, most people don’t enjoy it.

Fortunately, understanding the investment process in detail isn’t a requirement to successful investing, any more than being a physician is a requirement for good health.

The Research

Research suggests a correlation between good health and investing in one’s health by getting regular physicals. Similarly, research shows people who engage professional money management have a significantly higher chance of investment success than those who do it themselves or rely on financial salespeople for guidance.

Unfortunately, it’s easier to find a competent doctor than a competent investment adviser. You know those with M.D. after their names must have passed stringent education and licensing requirements. Yet almost anyone can put “investment adviser” on a business card.

Few Regulations

Despite the lack of legal requirements, there are many competent investment professionals with wide education and strong skills. You just need to look beyond the designations after their names to find them.

Some things to look for:

Education. Look for someone with a Chartered Financial Analyst (CFA) designation or a master’s degree in finance. The CFA designation is the gold standard for an investment professional, often requiring three years of education and four years of experience. As an alternative, look for education in finance or financial planning.
Experience. The less formal education an investment adviser has, the more experience I would look for. Someone with 40 years of experience and a solid track record may be a better choice than a new graduate with a master’s degree in finance. Look for a balance of education and experience.
Broadly diversified investments, both by asset class and globally. At a minimum, look for an adviser whose average or model portfolio includes a broad array of global stocks of very small to very large companies, a global assortment of high quality and high yield government and corporate bonds, a commodity index fund, and a global fund of real estate investment trusts (REITS). More sophisticated advisers may include a small percentage of the portfolio in various investment strategies, sometimes called alternative investments, with solid long-term track records.
A long-term track record that equals or exceeds popular benchmarks. Investing is one of the few professions where earning an “average” return over 20 years puts someone in the top 3% of all managers.
Uses low-cost mutual funds. The average equity mutual fund charges 1.35% annually. An equivalent index fund can charge as low as 0.10%. When it comes to investing, low fees are usually the best move.
Communication. Look for someone who doesn’t talk down to you, but who can make complex strategies easy to understand. Also, ask to see sample investment reports to be sure they are understandable and easy to follow.
Tailors portfolios to you. The best constructed portfolio in the world is no good if you panic in a downturn and instruct the adviser to sell out. It’s critical to find an investment adviser who will take time to understand your needs and your emotional tolerance for risk.
A fiduciary relationship to you. It’s essential to choose a financial adviser who represents you, with no conflict of interest from sales or commissions. The safest pick is someone who is compensated only by fees for their advice and services.

***

Assessment

When you find a professional investment adviser who meets these qualifications, you have one thing left to do. Your biggest challenge may be to let go of any fears or need to control and trust the adviser to work for you.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: Rick Kahler CFP® | 1 Comment »

Welcome Original Thinkers

Posted on October 28, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

Welcome Original Thinkers

By Nina Martin – Dreamer nina@wotquiz.com

Hi Dr. David E. Marcinko,

I’m reaching out to you because I thought you and the readers of Medical Executive-Post News [Trends, Info & Insights for Savvy Doctors and Their Advisors] might like to take and share a short fun personality quiz we call Welcome Original Thinkers or the WOT Quiz.

www.wotquiz.com

Kimberly-Clark thrives on original thinking and we are currently recruiting original thinkers to add to our teams. We’ve launched a new recruitment campaign, “Welcome Original Thinkers,” to find great talent that can help us solve problems and create solutions before consumers even know they need them. I’ve put all the info including videos, images and more on this microsite:

www.wotquizinfo.com

Be sure to let me know what kind of Original Thinker you are (I’m a Dreamer) and if you post, tweet or share, please use the hashtags #wot, #wotquiz and #welcomeoriginalthinkers

Assessment

Also, please send me the link as I’d love to share it with my team. I’m here if you have any questions. Thanks so much!

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

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

[Dr. Cappiello PhD MBA] [Foreword Dr. Krieger MD MBA]

Front Matter with Foreword by Jason Dyken MD MBA

***

Filed under: iMBA, Inc. | Tagged: Kimberly-Clark, Nina Martin, Welcome Original Thinkers | 1 Comment »

Texas VA medical center accused of falsifying veteran wait times

Posted on October 18, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. Eowyn

Another VA scandal for Obama’s record. From Fox News: A Houston VA hospital altered records to hide lengthy patient waiting lists even as a national scandal regarding treatment of veterans was unfolding, a federal watchdog charged in a scathing report released this week. Officials at the Michael E. DeBakey VA Medical Center in Houston and […]

Texas VA medical center accused of falsifying veteran wait times — Fellowship of the Minds

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | 4 Comments »

“New Paradigm” is a business model not a medical model

Posted on September 3, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

327518caf4de6ca81321ea8b469a3d42

By Michael Langan MD

“I’m only here for a four day evaluation”– T-shirt sold at Talbott Recovery Center The New York Times article below written by Robert Dupont advocates coercion to facilitat…

img1-9

“New Paradigm” is a business model not a medical model

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Leave a comment »

An Open Letter to Senator Elizabeth Warren Regarding Laboratory Developed Tests, Physician Health Programs and Institutional Injustice

Posted on August 24, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

[By Michael Lawrence Langan MD]

I can think of nothing more institutionally unjust than an unregulated zero-tolerance monitoring program with no oversight using unregulated drug and alcohol testing of unknown validity. But that…

An Open Letter to Senator Elizabeth Warren Regarding Laboratory Developed Tests, Physician Health Programs and Institutional Injustice

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: Ethics, iMBA, Inc., Risk Management | Tagged: Elizabeth Warren, Michael Lawrence Langan MD, physician health programs | Leave a comment »

On MACRA

Posted on August 19, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

By ACR and AAN

***

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | 4 Comments »

PHI RansomWare Just Went Up!

Posted on July 26, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

[By Darrell K. Pruitt DDS]

Expect malware entrepreneurs to charge what the market will bear, again and again.

“OCR Releases Guidance on Ransomware: ‘Your Money or Your PHI’”. By Dianne J. Bourque for The National Law Review,” July 12, 2016

http://www.natlawreview.com/article/ocr-releases-guidance-ransomware-your-money-or-your-phi

Bourque: “A key component of the guidance provides a ransomware attack that encrypts a Covered Entity’s ePHI is presumed to be a breach. As ransomware can infect a Covered Entity’s entire system, this presumption may lead to enormous breach notification obligations.”

Bourque adds: “OCR indicates that when ePHI is encrypted as a result of a ransomware attack, a breach has occurred because the ePHI encrypted by the ransomware was acquired (i.e., unauthorized individuals took possession of the information) and is thus a ‘disclosure’ not permitted under the HIPAA Privacy Rule has occurred.”

When patients are notified of data breaches – for any reason – many will quietly change providers. According to The Ponemon Institute, loss of future income is the most costly result of lawfully reporting data breaches…. and ransomware attacks are at “epidemic” levels. I have heard dentists are paying the ransom quickly.

The disincentives to do the right thing were overwhelming providers even before the OCR’s recent ruling. Such is the ugly nature of extortion.

Assessment

Cha-ching!

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Information Technology, Pruitt's Platform | Tagged: D. Kellus Pruitt DDS, Dianne J. Bourque, HIPAA, malware entrepreneurs, OCR, PHI, RansomWare | Leave a comment »

Reputation Economics [Book Review]

Posted on June 30, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

[By Jaan Sidorov MD]

An Interesting Book

Reputation Economics by Joshua Klein builds on the observation that humans ultimately prefer to trade goods with persons they genuinely trust. The invention of money as a medium of exchange may have solved a lot of inconveniences, but it also distanced the seller and the buyer.

He suggests that our Information Age is ironically ushering in a return of barter, where many goods and services can be directly exchanged between parties who create a track record of their trustworthiness online.

Interestingly, your personal identity doesn’t need to be part of that reputation. And if barter isn’t available, enter cryptocurrency like Bitcoin, which preserves anonymity but commands trust.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: Book Reviews, iMBA, Inc. | Tagged: Bitcoin, Jaan Sidorov MD, Joshua Klein, Reputation Economics | Leave a comment »

The Precision Medicine Initiative

Posted on June 26, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

A New Era of Medicine

[By Staff Reporters]

When The White House announced their Precision Medicine Initiative last year, they referred to precision medicine as “a new era of medicine,” signaling a shift in focus from a “one-size-fits-all-approach” to individualized care based on the specific characteristics that distinguish one patient from another.

While there continues to be immense excitement about its game-changing impact in terms of early diagnoses and targeting specific treatment options, the advancements in technology, which underlie this approach, may not always yield the best medical results.

Assessment

But, in some cases, low cost approaches, based on sound clinical judgment, are still the better option.

***

Screen-Shot-2016-06-22-at-9_03_35-AM

***

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Leave a comment »

Robert James Cimasi; MHA ASA CVA CMP® Named “Pioneer of the Profession”

Posted on June 25, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

[By staff reporters]

A Friend of the ME-P

cimasi

***

HCC CEO Bob Cimasi Recognized as a “Pioneer of the Profession” under NACVA’s “Industry Titans” Awards

***

Health Capital Consultants CEO Robert James Cimasi MHA ASA FRICS MCBA CVA CM&AA, CMP® has been named a “Pioneer of the Profession” by the National Association of Certified Valuators and Analysts (NACVA) and Consultants Training Institute as part of their Silver Anniversary recognition luncheon of valuation “Industry Titans,” held on June 10th. 2016, during the 25th Annual Conference in San Diego.

***

Mr. Cimasi joins valuation profession luminaries, including: Dr. Shannon P. Pratt, Chris Mercer, James R. Hitchner, Roger J. Grabowski, Richard Wise, Jay E. Fishman, Nancy Fannon, Honorable Judge David Laro, Howard Lewis, and Mel H. Abraham, along with fourteen others, in receiving this honor.

***

Congratulations to Bob Cimasi and his fellow “Pioneer of the Profession” honorees from the HCC Team and ME-P Topics Staff.

***

Well Done!

CONGRATULATIONS – BOB

***

Filed under: iMBA, Inc. | Leave a comment »

American Society of Appraisers 2016-17 Election Results

Posted on June 11, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

NEW ASA OFFICERS

[By Jennifer M. Aguilar]

Marketing and Communications Assistant

American Society of Appraisers

11107 Sunset Hills, Suite 310, Reston, VA 20190

Direct (703) 733-2120 | Fax (703) 742-8471 | jaguilar@appraisers.org

Hello ME-P Readers and Subscribers,

The ASA is pleased to announce the results of ASA’s 2016-17 elections for the new International Officers, Board of Governors and Discipline Committee Officers and Members At-Large. Those elected will officially take office on July 1, 2016.

To learn more please see this PR attachment: ASA Election Results

Thank you in advance for sharing this information.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: Health Insurance, iMBA, Inc., Uncategorized | Tagged: American Society of Appraisers, ASA, Jennifer M. Aguilar | 1 Comment »

$100-K Hearst Health Prize Call for Submissions

Posted on June 8, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

$100-K Hearst Health Prize Call for Submissions!

We are excited to announce that we are now accepting applications for the 2017 Hearst Health Prize for Excellence in Population Health. The winner will receive a $100,000 cash prize in recognition of outstanding achievement in managing or improving population health.

The Hearst Health Prize, in partnership with the Jefferson College of Population Health (JCPH), was created to help identify and promote promising new ideas in the field that will help to improve health outcomes. The goal is to discover, support and showcase the work of an individual, group, or institution that has successfully implemented a population health program or intervention that has made a measurable difference.

***

***

The deadline to apply is August 26, 2016. To apply or learn more about the Hearst Health Prize, click here.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Research & Development | Tagged: David B. Nash MD MBA, Hearst Health Prize, Hearst Health Prize Call for Submissions | Leave a comment »

An FA Hayekian Defense of Evidence Based Medicine

Posted on May 18, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

A Reprint by Andrew Foy MD

A Hayekian Defense of Evidence-Based Medicine

***

[F.A. Hayek]

http://thehealthcareblog.com/blog/2016/05/11/a-hayekian-defense-of-evidence-based-medicine/

ABOUT

Andrew Foy is an academic cardiologist who is taking up blogging, again, for the instant gratification it brings while his real research is under peer-review. His Twitter account is @AndrewFoy82.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc. | Tagged: evidence based medicine, FA Hayek | 1 Comment »

Inviting Patients to Read Their Doctors’ Notes

Posted on April 16, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

OVER HEARD IN THE DOCTOR’S LOUNGE

By Dr. David E. Marcinko MBA CMP™

In an OpenNotes study, researchers examined the impact on patients and doctors when patients were allowed access to their doctors’ notes via a secure Internet portal.

Through the use of surveys, patients’ benefits, concerns, and behaviors, as well as physicians workload, were measured.

The Study

Beth Israel Deaconess Medical Center (BIDMC) in Boston, Geisinger Health System (GHS) in Pennsylvania, and Harborview Medical Center (HMC) in Seattle were selected for this quasi-experimental year-long study.

The study included 105 physicians and 13,564 of their patients. Patients were notified when their notes were available, but whether or not to open the note was at their own discretion. The authors analyzed both pre- and post-intervention surveys from the physicians who completed the study; 99 physicians submitted both pre- and post-intervention surveys. Of the patients who viewed at least one note, 41 percent completed post-intervention surveys.

***

Almost 99 percent of patients at BIDMC, GHS, and HMC wanted to have continued access to their visit notes at the completion of the study; no physician elected to end this practice.

Assessment

Although a limited geographic area was represented, the positive feedback and clinically relevant benefits demonstrate the potential for a widespread adoption of OpenNotes.

Moreover, it may be a powerful tool in helping improve the lives of patients.

Citation: Inviting Patients to Read Their Doctors’ Notes: Author(s): Delbanco, T; Walker, J; Bell, SK and Darrer, JD et al: American College of Physicians, Annals of Internal Medicine, October 2012

Open Notes, a grantee of the Robert Wood Johnson Foundation, was developed to demonstrate and evaluate the impact on both patients and clinicians of fully sharing (through an electronic patient portal) all encounter notes between patients and their primary care providers.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

http://www.BusinessofMedicalPractice.com

***

Filed under: iMBA, Inc., Practice Management | Tagged: Altered Medical Records, Bell, Darrer, Delbanco, JD, medical records, OpenNotes, Patients to Read Doctors' Notes, SK | 1 Comment »

Be a Journalist!

Posted on April 11, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

Be a Journalist!

Via Megan McArdle:

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Jokes and Puns | Tagged: citizen journalist, journalist | Leave a comment »

Medication Use in Older Adults

Posted on April 6, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

http://www.MCOL.com

Including Supplements for 2005-2011

***

Conclusion

***

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Research & Development | Tagged: Elderly drugs, Medication Use in Older Adults, Supplement Use in Older Adults | Leave a comment »

An Open Letter from the APHA Government Relations Director

Posted on April 5, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

National Public Health Week

By Don Hoppert
[APHA Government Relations Director]

Dear Dr. David E. Marcinko,

Sen. Tom Udall, D-N.M., and Rep. Lucille Roybal-Allard, D-Calif., are joining the audacious goal of creating the healthiest nation in one generation by introducing resolutions recognizing National Public Health Week and the importance of public health in our daily lives in supporting a strong, healthy nation.

While resolutions, such as the NPHW resolution, do not become laws, they function as statements of intent for Congress. This is an excellent opportunity to encourage your members of Congress to acknowledge the importance of public health, and potentially pave the way for additional support on other public health issues.

***

Send a message to your senators and representative urging them to support public health and co-sponsor the NPHW resolution!

Assessment

Note that the following representatives have already committed to joining the resolution as original co-sponsors:

•    Rep. Rob Wittman, R-Va.
•    Rep. Gene Green, D-Texas
•    Rep. Jim McGovern, D-Mass.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

[HEALTH INSURANCE, MANAGED CARE, ECONOMICS, FINANCE AND HEALTH INFORMATION TECHNOLOGY COMPANION DICTIONARY SET]

[Mike Stahl PhD MBA] * [Foreword Dr.Mata MD] * [Dr. Getzen PhD]

***

Filed under: iMBA, Inc. | Tagged: APHA, Don Hoppert, National Public Health Week, NPHW resolution | Leave a comment »

Altered Medical Records – OLD SCHOOL!

Posted on March 14, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

ON ALTERED RECORDS

By Dr. David Edward Marcinko MBA CMP®

http://www.CertifiedMedicalPlanner.org

The health care provider should not alter the medical record under any circumstances.

The office, clinic or hospital must zealously guard its medical records from alterations by physicians or members of the nursing staff.

Even an inconsequential alteration will throw the validity of the entire record into question. If an entry must be changed, a single line should be drawn through the entry, taking particular care to make sure that the original entry is clearly legible. The new entry should be written above or next to the old entry, and the date of the new entry, as well as the name of the person making the entry, should be recorded. The entry must also be signed by that person.

Juries are very intolerant of altered medical records; and even innocent mistakes, such as the loss of a few pages of a record, will be construed as an intentional cover-up. Under no circumstances should materials such as liquid paper or other opaque liquids be applied to the record in order to correct any entry.

Assessment

The health care provider should not alter the medical record under any circumstances.

Conclusion

Is there an emerging migration back to paper medical records?

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

Foreword by: J. WESLEY BOYD MD PhD MA

Harvard Medical School

Boston Children’s Hospital – Psychiatrist

Yale University

Filed under: Career Development, iMBA, Inc., Practice Management, Risk Management | Tagged: Altered Medical Records, Dr. David Marcinko, medical records | 1 Comment »

Comparing “Best-in-Class” Blue Cross Blue Shield Plans Against Their Peers

Posted on January 24, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

Plan Management Navigator

By Douglas B. Sherlock CFA

sherlock@sherlockco.com

This issue of Plan Management Navigator contains a summary of our analysis comparing “Best-in-Class” Blue Cross Blue Shield Plans and the other Plans that we refer to as “Peer” Plans.

Best-in-Class Plans operated with costs, excluding Sales and Marketing and Medical Management that were 32% lower than their Peers.

Low Staffing Ratios was the primary driver in the Best-in-Class cost advantage, while Staffing Costs per FTE and Non-Labor Costs per FTE were also lower.

The functional area of Information Systems was key in superior Best-in-Class performance. Economies of scale played no role in the ranking.

Invitation to Participate in the 2016 Sherlock Benchmarking Study

Our highly valid, well-populated Benchmarks provide an unbiased ranking and helps prioritize activities that will have the greatest impact on improving your health plan’s overall operating performance.

The overwhelming proportion of health plans participating last year are participating this year, and we have added several plans. Please follow this link to see what last year’s participation looked like.

We will meet to finalize the content of the survey in February, distribute the survey forms in March, collect the completed surveys in May and publish beginning in late June or early July. Participation entails efforts on your part since useful outputs require relatively granular inputs. The cost is relatively modest.

Because of the calendar, if you are considering participation, please contact me as soon as convenient. We can answer questions and help get the paperwork out of the way.

Assessment

Thank you again for your continuing interest in the Sherlock Benchmarks. Please visit this link to find the January 2016 Plan Management Navigator.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

HEALTH INSURANCE, MANAGED CARE, ECONOMICS, FINANCE AND HEALTH INFORMATION TECHNOLOGY COMPANION DICTIONARY SET

***

Filed under: Health Insurance, iMBA, Inc. | Tagged: Blue Cross Blue Shield Health Plans, Douglas B. Sherlock CFA, Health Insurance | 2 Comments »

Estimated New Cancer Types

Posted on January 23, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

By http://www.MCOL.com

http://www.BusinessofMedicalPractice.com

According to Gender and Type in 2016

ImageProxy

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care

***

Filed under: iMBA, Inc., Research & Development | Tagged: new cancer types, www.MCOL.com | 1 Comment »

The Role of MD/DOs in BIOLOGICAL and CHEMICAL Attacks

Posted on January 22, 2016 by Dr. David Edward Marcinko MBA MEd CMP™

Is there REALLY a Role … at all?

By Dr. David Edward Marcinko MBA

Title X of the USA PATRIOT Act contains several calls for strengthening the public health system. Section 1013(a)(4) calls for “enhanced resources for public health officials to respond to potential bioterrorism attacks.” Section 1013(a)(6) calls for “greater resources to increase the capacity of hospitals and local healthcare workers to respond to public health threats.”

PRE 9/11

Prior to September 11, 2001, the capacity of healthcare entities to respond to biological and chemical attacks by terrorists was quite limited. Strictly speaking, however, healthcare organizational preparedness plans are not as directly encumbered by the USA PATRIOT ACT, or by the Department of Homeland Security’s (DHS’s) Chemicals of Concern [COC] List, or the various steps of its Section 550 Program as some other industries. Nevertheless, healthcare organizations may have their sources of contaminants, such as: Mercury, Dioxin: DEHP (2-ethylhexyl), Volatile Organic Compounds and Glutaraldehyde, etc.

For some time now, the Joint Commission (formerly the Joint Commission on Accreditation of Healthcare Organizations) has also required hospitals to have a disaster preparedness plan mimicking the USA PATRIOT Act [personal communication, Kenneth A. Powers, Media Relations Manager, TJC].

Post 9/11

After September 11, 2001, “disaster preparedness” evolved into something that could more accurately be described as “emergency preparedness.” Experience in New York and Virginia has shown that there will be spillover outside the immediate geographic areas affected by a terrorist attack, which will affect suburban and rural hospitals.

Thus, the emphasis in emergency preparedness is on the coordination and integration of organizations throughout the local system. Hospitals and healthcare entities therefore need to revise existing plans for disaster preparedness to reflect the realities of potential terrorist threats. Mitigation against risk is essential to safeguard the financial position of an entity. Medical practices and healthcare entities can mitigate risks by developing an emergency preparedness plan.

The entity should start by identifying possible disaster situations, such as earthquakes and biological or chemical attacks that could affect the facility. Next, the entity should identify the potential damages that could occur to structures, utilities, computer technology, and supplies. After that, the entity should use resources currently available to safeguard assets, and then budget to acquire any additional materials or alterations required to secure the facility.

travel+airplane

Practices can take several steps to mitigate even in the absence of significant funding:

First, establish links with ‘first responders’ such as local law enforcement, fire departments, state and local government, other healthcare organizations, emergency medical services, and local public health departments.
Second, establish training programs to educate staff on how to deal with chemical and biological threats.
Third, make changes in their information technology to facilitate disease surveillance that might give warning that an attack has occurred. Information technology may be useful in identifying the occurrence syndromes such as headache or fevers that might not be noticed individually but in the aggregate would signal that a biological or chemical agent had been released.
Fourth, acquire access to staff and equipment to respond to biological and chemical attack through resource sharing arrangements in lieu of outright purchases.”

In addition to preparedness for an attack within its catchment area, a healthcare organization must be prepared for an attack on its own facility or office. They should assess the vulnerability of the heating, ventilation, and air conditioning (HVAC) systems to biological or chemical attack. The positioning of the air intake vents is especially important because intakes on roofs are fairly secure as compared to intakes on ground level.

One way to increase security is to restrict access to the facility. Some facilities are using biometric screening to restrict access to their facilities. Biometric screening identifies people based on measurements of some body part such as a fingerprint, handprint, or retina. The advantage of this approach is that there are no problems with forgotten badges, and biometric features cannot be shared or lost like cards with personal identification numbers (PINs).

flu+virus+2

Assessment

In preparing for a possible attack, healthcare entities should also examine the federal, state, and local laws that might affect their response to a biological or chemical attack.

And so, is there really a roll; at all?

Unfortunately, there is no central source of legislation, and an extensive search of many sources might be required to determine the legal constraints.

Conclusion

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
ADVISORS: www.CertifiedMedicalPlanner.org
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
Dictionary of Health Economics and Finance
Dictionary of Health Information Technology and Security
Dictionary of Health Insurance and Managed Care