BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on July 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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According to Morning Brew, the US banking system is about to speed up, potentially eliminating those frustrating waiting days it can take for money to hit your account. The Fed is launching its FedNow instant payment service later this month. The new system will enable banks to send each other cash instantly, 24/7, as an alternative to the existing system that runs only during regular business hours and often takes days to move money.
FedNow could put America’s banking system on track to catch up to countries like India and Nigeria, where high-speed payments are as common. The US does already have an instant payments system, but it’s private rather than government-backed, and it hasn’t been widely adopted. It’s mostly only used by big banks, and only 1.4% of US transactions happen in real time, according to payment systems company ACI Worldwide.
FedNow enabled services will soon likely appear at the 41 banks that have been certified to participate so far.
People moving money between banks or paying bills could complete their transactions in seconds without the need to plan payments days in advance.
Businesses will be able to access customer payments immediately and to send workers payments more frequently with instant direct deposit rather than the usual payroll cycle.
BUT … Faster payments could mean faster bank runs, too!
Some experts worry that allowing people to drain their bank accounts instantaneously could make SVB-style bank runs more likely. Smaller banks struggling with liquidity would have even less time to react to customer panic and get collateral for emergency government loans to cover fleeing cash.
But there are safeguards built in. FedNow has a transaction limit of $500,000, and banks can set their own ceilings to ensure that customers don’t pull their deposits.
Posted on July 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
FINALLY?
By Staff Reporters
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Microsoft’s takeover of Activision Blizzard cleared for landing
A federal judge rejected the FTC’s attempt to stop Microsoft from buying the video game publisher Activision Blizzard, paving the way for the $69 billion deal to close as soon as this month.
The FTC argued that the takeover would result in less competition in the video game industry and limit access to Activision’s blockbuster games, but the judge disagreed, saying, “To the contrary, the record evidence points to more consumer access to Call of Duty and other Activision content.”
While the deal still needs UK regulators’ approval, they also signaled yesterday they would let it proceed.
Posted on July 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Earnings season picks up: The Q2 reports will come fast and furious this week from companies including Bank of America, Tesla, major airlines, and American Express. But the most tea is expected to be spilled by Netflix, which will give an update on its password-sharing crackdown and discuss how the Hollywood strikes are impacting its business.
A new study reports Eli Lilly’s Alzheimer’s drug slowed cognitive and functional decline for people with early stages of the disease. The data, published Monday in the Journal of the American Medical Association, found the experimental drug Donanemab slowed decline by 35% compared to a placebo group based on a measure of daily activities such as driving, managing finances and talking about current events. Researchers also shared the data at the Alzheimer’s Association International Conference in Amsterdam.
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Lilly said it submitted an application for traditional Food and Drug Administration approval earlier this year and expects the agency will act before the end of the year.
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Finally, technology shares were among the strongest performers yesterday, with the Philadelphia Semiconductor Index (SOX) surging over 2% to its highest level since January 2022. Smaller companies also performed well, with the small-cap focused Russell 2000 (RUT) up over 1% to end at a five-month high. Financial shares remained robust following mostly better-than-expected results from big banks last week. Here is where the major benchmarks ended:
The S&P 500 Index was up 17.37 points (0.4%) at 4,522.79; the Dow Jones Industrial Average was up 76.32 points (0.2%) at 34,585.35; and the NASDAQ Composite was up 131.25 points (0.9%) at 14,244.95.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 3.805%.
CBOE’s Volatility Index (VIX) was up 0.14 at 13.48.
Posted on July 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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We hope everyone is staying safe out there, especially because in healthcare, summertime is known as “trauma season.” Accidents nearly double for children, and adult injuries increase by almost 25%, with the main culprits being sports and recreational activities. So remember to put on a helmet, knee and elbow pads; etc.
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Stocks surged on Wednesday after a cooler-than-expected June consumer price index report eased some worries that the Federal Reserve may tip the economy into a recession as it fights to bring down sticky inflation.
Fundstrat’s Tom Lee told CNBC’s “Closing Bell: Overtime” on Wednesday that today’s CPI print, future expectations for easing and recent stock activity paint a market that is “behaving more like a soft landing” scenario that many deemed unreachable at the start of 2023.
Posted on July 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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American consumers are on track to run out of cash later this year, Bill Gross has warned.
Consumer spending is a key driver of economic growth. If it drops, a recession might be the result.
“Bond King” Gross said the government’s aggressive spending during the pandemic is still buoying the economy.
American consumers are propping up the economy by spending their pandemic savings, but they’re likely to run out of cash later this year, Gross warned.
“It’s fiscal policy not just monetary policy — stupid,” the billionaire investor tweeted. His point was that government spending and tax rates, along with interest rates and money supply, affect economic growth and inflation.
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Used Auto Prices Down
Used car prices in America saw the largest monthly slump since the height of the pandemic in June.
That’s good news on inflation, which could fall below 3% in June, the analyst said.
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Here is where the major benchmarks ended: yesterday
The S&P 500® Index (SPX) was up 29.73 points (0.7%) at 4,439.26; the Dow Jones Industrial Average (DJIA) was up 317.02 points (0.9%) at 34,261.42; the NASDAQ Composite (COMP) was up 75.22 points (0.6%) at 13,760.70.
The 10-year Treasury note yield (TNX) was down about 3 basis points at 3.978%.
CBOE’s Volatility Index (VIX) was down 0.23 at 14.84.
Energy companies led sector gainers Tuesday as crude oil futures extended a rally, with the benchmark WTI contract rising more than 2.5% and touching a 2½-month high on signs of lower Russian production.
The Philadelphia Oil Service Index (OSX) jumped more than 3% to a four-month high. Retail and transportation shares were also among the strongest sectors, while the health care and semiconductor sectors slipped.
Posted on July 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Want to know why there are seemingly no houses for sale in the US these days? These numbers should help explain:
The average rate on a 30-year mortgage climbed to 6.81% last week, its highest level of 2023, according to Freddie Mac. At the same time, almost 92% of US homeowners with mortgages have an interest rate of less than 6%, Redfin reported.
So, not many current homeowners are willing to ditch their lower mortgage rates for the higher one that would come with a new house.
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Markets: As Wall Street heads into another earnings season this week, no one has much of a clue where stocks will go from here. Bloomberg notes there’s a whopping 50% difference between the most bullish analyst forecast for the S&P 500 for the rest of 2023 and the most bearish.
Posted on July 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Despite high prices, new car sales have been remarkably strong so far this year and are up 12% compared to the first half of 2022, according to Cox Automotive.
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Here is where the major benchmarks ended:
The S&P 500® Index (SPX) was down 12.64 points (0.3%) at 4398.95, down 1.2% for the week and just the second weekly decline in the past eight weeks; the Dow Jones Industrial Average (DJIA) was down 187.38 points (0.6%) at 33,734.88, down 2% for the week; the NASDAQ Composite (COMP) was down 18.33 points (0.1%) at 13,660.72, down 0.9% for the week.
The 10-year Treasury note yield (TNX) was up about 2 basis points at 4.06%.
CBOE’s Volatility Index (VIX) was down 0.61 at 14.83.
Energy shares were among the strongest performers, with the Philadelphia Oil Service Index (OSX) surging more than 6% to a four-month high. Benchmark WTI crude futures jumped more than 2% to close at a six-week high on hopes that OPEC+ production cuts will tighten supplies.
Regional banks and transportation stocks were also strong.
And, Samsung fell yesterday after revealing that its profits dropped 96% last quarter, giving the company its smallest quarterly profit since 2009 as it continues to sit on more memory chips than the market wants.
Posted on July 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
A SINCERE SHOUT OUT!
By Staff Reporters
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We hope you’ve recovered from overindulging in hot dogs, beer and parade candy; yesterday. The hospital employees out there are probably even busier than usual today, as more than 45,000 people on average visited emergency rooms on both July 4th and 5th due to holiday-related injuries.
On behalf of those ER patients, we thank all doctors, nurses, technicians and healthcare workers for their service.
Posted on July 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Here is where the major benchmarks ended on Monday:
The S&P 500 Index was up 5.21 points (0.1%) at 4,455.59; the Dow Jones Industrial Average (DJIA) was up 10.87 points at 34,418.47; the NASDAQ Composite was up 28.85 points (0.2%) at 13,816.78.
The 10-year Treasury note yield (TNX) was up about 4 basis points at 3.862%.
The CBOE Volatility Index® (VIX) was little changed at 13.58.
Financial companies had a good day Monday, with the KBW Regional Banking Index (KRX) rising more than 2%.
The consumer discretionary sector was also strong, while energy companies got a bump as crude oil futures reached their highest level in more than a week.
Health Care stocks lagged.
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Wall Street is hoping for a strong start to the second half of 2023 taking cues from the recent tech rally that has boosted the overall investor sentiment. Turning toward the U.S.-China trade war, on Monday, the mainland posed restrictions on the export of gallium and germanium to the U.S. citing national security concerns. These metals are used in semiconductor manufacturing and the curb is being used as a means of retaliation to the U.S. chip ban on China.
Remarkably, Tesla (NASDAQ:TSLA) stock has been on an uphill climb lately, thanks to the growing adoption of its North American Charging Standard (NACS) charging connectors by major automakers including General Motors (NYSE:GM), Ford (NYSE:F), and Rivian (NASDAQ:RIVN). Moreover, the EV maker posted better-than-expected auto delivery and production numbers for the month and quarter ending June 30, pushing shares up 6.9% on July 3.
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Future Salaries Will Decrease?
Median incomes are projected to drop over the next few decades, falling by 0.43 percentage points per year between now and 2020, 0.52 points per year between 2020 and 2030, and 0.2 points per year between 2030 and 2040.
Although the figures on their own are not staggering, the percentage drops over time will add up significantly. By 2050, an employee who earned $50,000 in 2013 will only make $44,000. The number is even more noticeable after accounting for inflation.
Posted on June 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The NASDAQ and S&P 500 fell to two-week lows, adding to last week’s declines, as investors continued to digest hawkish Fed comments and recession risks.
Here is where the major benchmarks ended today:
The S&P 500 Index was down 19.51 points (0.5%) at 4,328.82; the Dow Jones Industrial Average (DJIA) was down 12.72 points at 33, 714.71; the NASDAQ Composite was down 156.74 points (1.2%) at 13,335.78.
The 10-year Treasury note yield (TNX) was down about 2 basis points at 3.714%.
CBOE’s Volatility Index (VIX) was up 0.77 at 14.21.
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UnitedHealth Group related more people were using the healthcare system (bad news for insurers), and no one exactly knew why. Then yesterday, the sleuths at UBS published a note with a clever hypothesis: Rising healthcare utilization rates could be fueled by…pickleball injuries.
UBS calculated that the game’s surging popularity—among seniors, in particular—will contribute $377 million in medical costs this year for procedures like hip replacements and knee surgeries, Bloomberg reported.
Posted on June 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Health care sharing is not insurance, but the plans count as insurance under the Affordable Care Act (ACA). That means more affordable healthcare benefits while avoiding the tax penalty for going uninsured. Other pros of health care sharing over insurance include: Lower cost. Monthly costs of health sharing are usually much lower than insurance premiums, although the rules are different for what’s covered. Also, the annual “unshared amount” is much, much lower than deductibles on lower-premium or catastrophic insurance plans. Your choice of provider. There are no network requirements, and you provide your health sharing card as coverage. If a doctor won’t accept your plan and you have to pay out-of-pocket, health sharing plans reimburse your expense.s
Now, the caveats: Health care sharing plans aren’t required to cover pre-existing conditions, such as cancer, diabetes, or lifestyle-related conditions like smoking. Those who have them may be declined membership or won’t have the conditions fully covered for a year or more. Health care sharing also doesn’t typically cover the essential health benefits like wellness exams or mental health counseling.
Yet, at least 1.7 million Americans are involved in a health sharing agreements despite a lack of protections (KFF Health News).
Posted on June 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Ann Miller RN MHA CPHQ CMP
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INVESTMENT ADVISORY & PORTFOLIO OPINIONS, MEDICAL START-UPS, ESTABLISHED PRACTICE VALUATIONS, BUSINESS MANAGEMENT AND EXPERT WITNESS CONSULTING
“FROM CHAOS-TO-CALM”
If you’re looking at this ME-P tab, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance; looking for a new non-clinical career, thinking of finance, investing, retirement, or all of the above. Perhaps you are just looking to regain the joy and meaning in your medical or professional career?
And so, we can help. From informal coaching and mentoring – to second opinions and more formal business, legal and/or financial consulting. Regardless, the need is real.
Posted on June 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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DEFINITION: A solstice occurs when one of the Earth’s poles (today, it’s the north) tilts toward the sun at the maximum angle. The two solstices, in December and June, mark the beginning of winter and summer and give us the longest days and nights of the year.
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Summer officially arrives: The summer solstice is on Wednesday today, marking the astronomical beginning of summer in the Northern Hemisphere. It’s also the longest “day” of the year above the equator. Soak in those 9 pm sunsets, because they won’t last forever … or at least until next year 2024.
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Here is where the major benchmarks ended:
The S&P 500 Index was down 16.25 points (0.4%) at 4,409.59; the Dow Jones industrial Average was down 108.94 (0.3%) at 34,299.12; the NASDAQ Composite was down 93.25 (0.7%) at 13,689.57.
The 10-year Treasury note yield (TNX) was up about 4 basis points at 3.769%.
CBOEs Volatility Index (VIX) was down 0.97 at 13.53.
Retailers and regional banks were among the weakest performers Friday, and the Russell 2000 ended with a loss of about 1%.
Energy companies were among the strongest sectors thanks to crude oil futures extending a recent rally above $70 a barrel.
Posted on June 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Referral Change Was Resolution 504 AMERICAN MEDICAL ASSOCIATION HOUSE OF DELEGATES Resolution: 256 (A-23) Introduced by: American Society for Surgery of the Hand, American Association of Hand Surgery Subject: Regulating Misleading AI Generated Advice to Patients Referred to: Reference Committee
The American Medical Association (AMA) just voted to adopt a proposal to help protect patients against false or misleading medical information from artificial intelligence (AI) tools such as generative pre-trained transformers (GPT), etc.
Posted on June 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Battle of the Allopathic Vs. Osteopathic Physicians
By Dr. David Edward Marcinko MBA
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What’s the difference between an MD and a DO?
An MD is a Doctor of Medicine, while a DO is a Doctor of Osteopathic Medicine. The bottom line? They do the same job, have similar schooling, can prescribe medication and can practice all over the U.S.
“In general, DOs practice a more holistic, whole-person type of care,” explains Dr. Vyas. “MDs take a more allopathic, or illness-based, approach.”
Allopathic and osteopathic medicine differ in several ways:
Allopathic medicine uses medication, surgery and other interventions to treat illnesses.
Osteopathic medicine emphasizes the relationship between the mind, body and spirit. It focuses on treating the person as a whole and improving wellness through education and prevention. DOs also receive extra training in osteopathic manipulative medicine (OMM), a hands-on method for diagnosing and treating patients.
But these philosophical differences don’t necessarily define the way DOs and MDs practice medicine. For example, DOs use all types of modern medical treatments, and MDs provide whole-person and preventive care.
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What’s in a Medical Degree?
Allopathic and Osteopathic medical schools have similar curriculum structures. Students spend 12–24 months of their program in the classroom and then continue training in clinical settings, according to the American Medical Association (AMA).
Posted on June 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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DEFINITION: A consumer price index (CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time.
1. Energy is doing a lot of the work. Cheaper energy played a major role in pulling inflation down to 4% last month from 4.9% in April, per Axios. Gas prices plunged almost 20% from last year, when Russia’s invasion of Ukraine sent fuel costs to the moon, while broader energy prices fell nearly 12%.
2. “Revenge spending” is down. Once COVID pandemic lock downs lifted, Americans splurged on vacations, leisure, and recreation (new pickle ball paddles!) in what economists dubbed “revenge spending.” Now that everyone has taken their week long trip to Italy, there are signs that revenge spending is waning: Airfare prices dropped 13% annually in May and, according to the US Travel Association, hotel demand is below 2019 levels. Bad for your Instagram, but good for inflation.
3. Food prices are up. The cost of food ticked up 0.2% in May from April after staying flat in the previous two months, showing how inflation has persisted on grocery store shelves. But not all aisles are created equal—the price of eggs dropped nearly 14% from April (the biggest one-month drop since 1951), while fruit and veggie prices rose 1.3%.
4. More than anything else, rent is propping up inflation. Shelter costs are the largest category in the CPI report, and they’re still on the upward march, climbing 8.7% from a year earlier. The good news: Economists say this government data doesn’t reflect on-the-ground information, such as reports of softening rent by Zillow and Apartment List. Shelter costs in the CPI are expected to decline during the second half of the year.
Posted on June 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
FLAG DAY 2023
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Measured year over year, inflation slowed to just 4 per cent in May — the lowest 12-month figure in over two years and well below April’s 4.9 per cent annual rise. The pullback was driven by tumbling gas prices and smaller increases in grocery prices and other items.
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Here is where the major benchmarks ended, today:
The S&P 500® Index was up 30.08 points (0.7%) at 4,369.01; the Dow Jones industrial average was up 145.79 (0.4%) at 34,212.12; the NASDAQ Composite was up 111.40 (0.8%) at 13,573.32.
The 10-year Treasury note yield (TNX) was up about 6 basis points at 3.829%.
CBOE’s Volatility Index (VIX) was down 0.4 at 14.61.
Regional banks and oilfield services stocks led the gainers Tuesday. Crude oil futures rose 3% on expectations of stronger demand from China. Small-caps were also strong, with the Russell 2000 Index (RUT) rising more than 1% to its highest level since early March. The U.S. Dollar Index (DXY) fell to its lowest level in more than three weeks thanks to expectations interest rates could be near their peak.
As a doctor and attorney, it is only logical for me to be the medical guardian for my adult learning and physically challenged cousin. So, I am here in Miami, Floridanearly every month for his physician appointments as well as social service visits. But, we also make sure we attend exciting and fun activities, as well!
In fact, last weekend was no exception as we went to the Sabrina Cohen Foundation for theirAdaptive Beach Daysevent during Brain Awareness Month every June.
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TheCohen Foundationprovides adaptive services for physically impaired people to participate in water activities, particularly in the ocean and beach activities. Miss Cohen was injured 19 years ago in a terrible accident and had a spinal cord injury. Instead of feeling sorry for herself, she created a foundation where she helps others enjoy life and activities outdoors. She received a 2 1/2 million dollar grant from the city of Miami and has a permanent site on the Beach in Miami. And, she provides services and activities for many people and is trying to take her foundation nationwide.
ME-P NOTE: The Illinois’s 11th Congressional District is in the state of Illinois. It includes parts of Cook, DuPage, Kendall, Kane and Will counties, as well some suburbs of Chicago and rural areas. So, please drop us a line and consider learning about and supporting Dr. Kent, regardless of your congressional district, affiliation and/or U.S. state.He is a political centrist and surely a rising new national star.
Posted on June 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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CRANIA: A delivery driver for the Anatomical Gift Association (AGA) of Illinois claims that after he complained about corpse storage protocol, he arrived at work to find three [3] severed heads in plastic containers in his office. The AGA denied it was retaliation, saying a desk full of skulls is just part of the job.
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Doctors on TikTok? Hospital re-brandings? Healthcare marketers are trying new strategies to reach patients—but they’re not always a slam dunk success.
Posted on June 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters and MGMA Survey
Physician Compensation is Rising but Not Keeping Pace with Inflation
Despite physician and advanced practice provider productivity continuing its post-pandemic recovery, compensation gains are being outstripped by the most severe inflationary growth in decades, according to a new report. Provider compensation increased across the board, with primary care physicians (PCPs) receiving the biggest increase last year. Growth in median total compensation for primary care doctors doubled from 2021 to 2022—from pay growth of 2.13% to 4.41%. But these gains were eclipsed by the rate of inflation at 7% and 6.5%, respectively.
Surgical and non-surgical specialists saw their change in median total compensation cool slightly in 2022, dropping from 3.89% for surgical specialists in 2021 to 2.54% in 2022, and from 3.12% for non-surgical physicians in 2021 to 2.36% in 2022, according to the Medical Group Management Association’s 2023 provider compensation and production report.
Posted on June 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Saudi Arabia said yesterday that it will reduce how much oil it sends to the global economy, taking a unilateral step to support the sagging cost of crude after two earlier production cuts by members of the OPEC+ alliance of major oil-producing countries failed to push prices higher. The announcement of the Saudi cuts of 1 million barrels per day, which will start in July, followed a meeting of the alliance at OPEC headquarters in Vienna. The rest of the OPEC+ producers agreed to extend earlier cuts in supply through the end of 2024.
The slump in oil prices has helped U.S. drivers fill their tanks more cheaply and given consumers worldwide some relief from inflation. That the Saudis felt another cut was necessary underlines the uncertain outlook for demand for fuel in the months ahead. And, there are still concerns about economic weakness in the U.S. and Europe, while China’s rebound from COVID-19 restrictions has been less robust than many had hoped.
However, some statistics from the US Chamber of Commerce show signs the situation is getting better: Leisure and hospitality lost 833,000 workers in July 2022, but 1.1 million people were hired into the industry that same month.
Posted on June 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The US kept adding jobs according to new data from the Bureau of Labor Statistics. The economy gained 339,000 pay-rolled employees in May, more than in each of the preceding three months and way more than the 190,000 Dow Jones predicted (to be fair, expert estimates low-balled 13 of the last 16 job reports, according to CNBC. This growth happened despite climbing interest rates, inflation, recent bank failures, and a nerve-racking debt ceiling standoff that threatened to destroy the economy And, Wall Street interpreted the data as a big green “buy” sign. For example:
Stocksleaped up last week as investors celebrated the deal to lift the debt ceiling being showed that the economy is still going strong. In fact, Lululemon stretched toward the heavens after beating earnings expectations thanks to a 24% year over year jump in sales.
But not all indications pointed to the hot streak continuing indefinitely.
The unemployment rate inched, wage growth slowed, and workers appear less self-assured in the labor market:
The self-employed lost 369,000 people from its ranks in May, a possible sign that folks might be ditching the self-employment for the security of a traditional employer.
And, recent data shows the quit rate has declined from an all-time high in late 2021, bringing an end to the pandemic job-hopping trend dubbed the Great Resignation.
Ultimately, the Fed will have to use the conflicting and mixed economic indicators to decide whether to further crank up interest rates at their next meeting. The Federal Reserve has been hinting that it might cease raising interest rates, and investors seem convinced the central bank will follow through and at least “skip” a hike this month even though the labor market is still radiating heat.
Posted on June 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
NO DEFAULT THIS YEAR
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The Senate just passed legislation to lift the nation’s debt ceiling and stave off what would’ve been an economically disastrous default days before Monday’s deadline. The final vote was 63-36. The bill will now go to President Joe Biden’s desk for his signature.
Posted on June 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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National Hurricane Season Commences
The Atlantic hurricane season is the period in a year, from June 1st through November 30th, when tropical or subtropical cyclones are most likely to form in the North Atlantic Ocean. These dates, adopted by convention, encompass the period in each year when most tropical cyclogenesis occurs in the basin. Even so, subtropical or tropical cyclogenesis is possible at any time of the year, and often does occur.
Interest Rates?
New US government data shows there were more open jobs last month than expected, raising the possibility that the Federal Reserve could keep hiking Interest Rates Up.
Banks
Shares of large and mid-sized U.S. banks sharply under performed the broader markets with worries about commercial real estate loans in focus among bank investors.
Companies
The e-commerce giant Amazon has agreed to shell out the cash to settle a pair of lawsuits lodged by the Federal Trade Commission. It will cough up $5.8 million to resolve claims that it let employees and contractors access footage from Ring doorbell cameras and another $25 million because Alexa allegedly improperly retained information from children. Amazon’s also facing criticism from its staff—hundreds of corporate employees walked out yesterday to protest the company’s layoffs, return to office mandate, and contributions to climate change.
Advance Auto Parts tanked after the car parts seller cut its dividend and outlook for the year.
The Markets
Here is where the major benchmarks ended, yesterday:
The S&P 500 Index was up 41.19 points (1.0%) at 4221.02; the Dow Jones industrial average (DJIA) was up 153.30 (0.5%) at 33,061.57; the NASDQ Composite was up 165.70 (1.3%) at 13,100.98.
The 10-year Treasurynoteyield (TNX) was down about 3 basis points at 3.603%.
CBOE’s Volatility Index (VIX) was down 2.25 at 15.69.
Oilfield services providers and other energy companies led sector gains, as crude oil futures rallied nearly 3% and pushed back above $70 barrel despite higher-than-expected U.S. inventories reported Thursday. Semiconductor makers and other tech companies continued their recent show of strength. The U.S. Dollar Index ($DXY) fell to its lowest level in more than a week amid ideas the Fed may soon “pause” its sharp rate hikes of the past year.
Posted on June 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Student loan payments could restart soon. Tucked into the debt ceiling deal agreed to by President Biden and House Speaker Kevin McCarthy is a measure that requires student loan borrowers to start paying their monthly bills again 60 days after June 30th.
A freeze on repayments has been in place since March 2020 due to COVID-19, and it’s been extended several times as the pandemic dragged on. This deadline for the resumption of payments is similar to the timeline previously laid out by President Joe Biden, but it prevents him from issuing another pause.
Posted on May 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Answering Patient Messages
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The study on ChatGPT “outperforming” doctors in answering patient questions quickly became the talk of the town. However, as is often the case, it was presented as a prime example of media sensationalism.
As we encounter more of these partially misinterpreted hypes – and rest assured, there will be many – we’ll need to navigate a sea of questions. Firstly, we must determine what AI can genuinely do better than healthcare professionals. Secondly, we need to consider how to identify unique areas where healthcare workers can assist patients, while AI automates repetitive and data-driven tasks.
Posted on May 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Though it’s not likely to be discussed at a funeral, the popular methods of body disposal—traditional burial or cremation—both pose major environmental hazards. In recent years, natural interment has made a comeback, with promises to protect the planet. But a Dutch inventor created eco-conscious coffins made from mushroom-like structures and hemp that will decompose within 45days of burial.
So, here are eight eco-friendly ways to make your last act on Earth a kind one.
Posted on May 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Spoofing
Spoofing is when someone disguises an email address, sender name, phone number, or website URL—often just by changing one letter, symbol, or number—to convince you that you are interacting with a trusted source.
For example, you might receive an email that looks like it’s from your boss, a company you’ve done business with, or even from someone in your family—but it actually isn’t.
Criminals count on being able to manipulate you into believing that these spoofed communications are real, which can lead you to download malicious software, send money, or disclose personal, financial, or other sensitive information.
Phishing
Phishing schemes often use spoofing techniques to lure you in and get you to take the bait. These scams are designed to trick you into giving information to criminals that they shouldn’t have access to.
In a phishing scam, you might receive an email that appears to be from a legitimate business and is asking you to update or verify your personal information by replying to the email or visiting a website. The web address might look similar to one you’ve used before. The email may be convincing enough to get you to take the action requested.
But once you click on that link, you’re sent to a spoofed website that might look nearly identical to the real thing—like your bank or credit card site—and asked to enter sensitive information like passwords, credit card numbers, banking PINs, etc. These fake websites are used solely to steal your information.
Phishing has evolved and now has several variations that use similar techniques:
Vishing scams happen over the phone, voice email, or VoIP (voice over Internet Protocol) calls.
Smishing scams happen through SMS (text) messages.
Pharming scams happen when malicious code is installed on your computer to redirect you to fake websites.
Posted on May 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
U.S. SURGEON GENERAL ADVISORY REPORT
By Staff Reporters
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May is mental health month in the USA. US Surgeon General Dr. Vivek H. Murthy issued a powerful public advisory yesterday warning of the considerable risks that social media poses to young people’s mental health. “Nearly every teenager in America uses social media, and yet we do not have enough evidence to conclude that it is sufficiently safe for them,” Murthy wrote. He argued that kids have “become unknowing participants in a decades-long experiment.”
The surgeon general’s report focuses on the impacts of social media on teens and kids—both positive and negative—and the attendant health risks. The report outlines two types of dangers associated with social networks: content-related problems, such as negative self-image or bullying, and use-related problems, such as poor sleep and addiction.
What we know about social media and kids’ mental health
By all accounts, America’s youth are currently experiencing a mental health crisis.
The number of teens and young adults with clinical depression doubled between 2011 and 2021, according to San Diego State University psychology professor Dr. Jean Twenge.
In 2021, the CDC found that nearly 25% of teenage girls had made a suicide plan.
Many experts have pointed to social media as a potential cause since the deterioration of kids’ mental health has coincided with the rise of social media platforms over the last decade.
Still, the effect of likes, retweets, and TikTok comments on kids’ brains remains more or less a mystery. We know that social media use affects adolescents and that teens show alarming rates of anxiety and depression. But studies that have attempted to determine whether social media is a direct cause of worsening mental health have been inconclusive. Plus, not all kids are impacted by social media similarly: Some—adolescent girls, for instance—appear to be more at risk than others.
Finally, and according to Morning Brew, while researchers search for answers, some lawmakers are pushing ahead with restrictions on teens’ use of social media. In March, for example, Utah became the first state to establish a curfew for teens on social media apps and mandate that parents have access to their children’s accounts.
Posted on May 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Mark Zuckerberg andInstagram is planning to throw its square-shaped hat in the ring to become the next Twitter with a text-based app it’s secretly been testing out with celebrities, influencers, and creators, Bloomberg reported. Meta reportedly plans to release the competitor to Elon Musk’s app this summer and may eventually allow it to sync up with other contenders for Twitter’s crown, like Mastodon.
Morgan Stanley CEO James Gorman said he plans to step down within the next year and move to an executive chair role. He’s led the investment bank since 2009 and is credited with growing its wealth management business.
Posted on May 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Today is World Family Doctor Day—and the US needs more family doctors. By 2026, 21% of family medicine and other primary care physicians will have reached retirement age, while demand for primary care is expected to grow 4%.
World Family Doctor Day is on May 19th every year. Founded by the World Organization of Family Doctors (W.O.N.C.A.) in 2010, World Family Doctor Day has now grown into a global celebration of the importance of family doctors in health care. Taking part in this event is a great way to show appreciation for the important role family medicine plays in providing patients with individualized, comprehensive, and long-term health care. Family doctors around the world have made significant contributions to medicine — now is the time to recognize that. It’s also a moment to recognize the advancements in family medicine and the unique efforts of primary care teams worldwide.
So we, at the ME-P, hope all the family doctors take time to relax from their busy schedules and enjoy the springtime blooms as we trust those April showers brought lots of May flowers.
Posted on May 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The executive branch of the European Union said Monday that Microsoft has offered enough remedies to address antitrust concerns, paving the way for the proposed $69 billion acquisition of gaming giant Activision Blizzard. The acquisition was opposed by rival game developer and PlayStation console maker Sony over fears it would see Microsoft’s Xbox platform push it out of the market. Market regulators globally, meanwhile, expressed concern over whether Microsoft would come to dominate the cloud-gaming market through the acquisition. On Monday, however, the European Commission, the executive arm of the EU, said Microsoft had done enough to allay concerns on cloud gaming specifically to warrant a positive decision on the merger.
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Here is where the major benchmarks ended [yesterday] Monday:
The S&P 500 Index was up 12.20 points (0.30%) at 4,136.28; the Dow Jones Industrial Average was up 47.98 (0.14%) at 33,348.60; the NASDAQ Composite was up 80.47 (0.66%) at 12,365.21.
The 10-year Treasury yield was up 3 basis points at 3.50%.
CBOE’s Volatility Index was up 17 basis points at 17.20.
Financial companies were among the leaders Monday, with regional lenders Citizens Bank (CFG), PacWest Bancorp (PACW), Western Alliance (WAL), and Zions Bancorporation (ZION) all bouncing higher after a punishing stretch for the banks last week. The materials and technology sectors were also up, while utilities and real estate lagged.
Posted on May 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stocks were a mixed bag yesterday after the consumer price index showed prices rose 4.9% last month, marking the 10th month in a row of cooling inflation and the first time inflation has dipped below 5% in two years. That’s still higher than the Fed’s 2% target, but it leaves space for Jerome Powell to chill out a bit. Tech stocks got a boost from that news, especially Google’s parent, Alphabet, which also benefited from rolling out its new AI.
Economists polled by the Wall Street Journal had forecast the CPI increasing 0.4% and advancing 5.0% over the past year. The core inflation rate rose 0.4% in April for the second straight month, in line with economists forecasts. For the year, the core inflation rate, excluding food and energy prices, increased 5.5% down from a 5.6% rise in March.
“The below 5% headline CPI number is a sigh of relief to a market on edge,” said Alexandra Wilson-Elizondo, co-head of portfolio management for multi asset solutions at Goldman Sachs Asset Management.
Traders hoped that the lower-than-expected inflation data may leave room for the U.S. central bank to refrain from raising interest rates further at its June meeting.
“The data today will be interpreted as not hot enough to force the Fed’s hand in June … We do not think this one data point will determine the outcome of the June FOMC meeting because we still have a string of economic data to process between now and then,” wrote Wilson-Elizondo.
“The details of the print suggest that we are still a meaningful distance from the Fed’s 2% target, giving little reason for the Fed to cut this year.”
Investors priced in the Federal Reserve beginning to trim borrowing costs in coming months, a hope that is seen underpinning stocks of late and helping the S&P 500 index move towards the top of the 3,800 to 4,200 range its has held all year.
Posted on May 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Health Capital Consultants, LLC
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On January 30th, 2023, President Joseph Biden announced that the public health emergency (PHE) and national emergency declaration related to the COVID-19 pandemic will finally end on May 11, 2023, after being in place for over three years.
And so, this Health Capital Topics article will discuss the changes that will take place after both declarations cease, and the implications for stakeholders. (Read more…)
Posted on May 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Because the inflation data came in roughly as expected, Wall Street sees the door still open for the Federal Reserve to leave interest rates alone at its next meeting in June. That would be the first time it hasn’t raised rates at a meeting in more than a year, and a pause would offer some breathing room for the economy and financial markets.
Today is the last day of the US Covid-19 public health emergency, which has been in place since Jan. 31st, 2020. With it comes the end of certain Covid-era rules, though some telehealth protections have been extended through the end of 2024. Here’s to all the medical professionals who got us through, and a remembrance for the millions who lost their lives to Covid.
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Brightline, a California-based mental health startup, laid off 20% of its staff this week following a data breach. North Carolina is the latest state to consider changes to the prior authorization process that advocates say delays care. A board member at Geisinger claims that consolidation prompted the healthcare provider to sell to Kaiser Permanente. Texas Gov. Greg Abbottsaid the state should address mental health issues in the wake of a shopping mall mass shooting, but did not call for gun control reform.
Finally, here is where the major benchmarks ended yesterday:
The S&P 500 Index was up 18.47 points (0.5%) at 4137.64; the Dow Jones industrial average was down 30.48 (0.1%) at 33,531.33; the NASDAQ Composite was up 126.89 (1.0%) at 12,306.44.
The 10-year Treasury yield was down about 8 basis points at 3.441%.
CBOE’s Volatility Index was down 0.80 at 16.91.
Oilfield services providers and other energy companies were among the laggards Wednesday, pressured by a more-than 1% drop in WTI crude oil futures.
Financial sector stocks struggling to escape the effects of the bank volatility earlier this spring helped push the KWB Regional Bank Index back near a 2½-year low reached last week.
Posted on May 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The S&P 500 and the Dow are coming off their worst weeks since March. And even with the Fed signaling the end of interest rate hikes, analysts don’t expect the market to perk up all of a sudden. Goldman Sachs, Bank of America, and Morgan Stanley predict the S&P will end the year lower than its current level. US oil prices, meanwhile, have fallen for three consecutive weeks over economic concerns.
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We mentioned the annual “Woodstock for Capitalists” meeting last week on this ME-P. Here are the highlights.
On the regional banking crisis: W. Buffett bashed leaders at the banks that failed this spring (First Republic, SVB, etc.), saying they “should suffer” and face “punishment.” But he also blamed the “totally crazy” bank regulations that incentivize bad behavior and “very poor” messaging around the debacle from politicians and the media. Buffett thinks the government was right to intervene to protect SVB depositors, claiming, “It would have been catastrophic” otherwise.
On the status of the dollar: “We are the reserve currency. I see no option for any other currency to be the reserve currency,” Buffett said. He called the notion of bitcoin or other tokens dethroning the dollar a “joke.”
On Berkshire’s investment in Apple: The value of Berkshire’s stake in Apple has ballooned to $151 billion, amounting to nearly half the value of its entire stock portfolio. “It just happens to be a better business than any we own,” Buffett said.
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US ends Covid-19 public health emergency: Like Title 42, the US public health emergency for Covid-19 will end on this Thursday. That may limit access to testing for millions of Americans, but it won’t affect the availability of treatments and vaccines.
Posted on May 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
ANNUAL MEETING TODAY
By Staff Reporters
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“Woodstock for Capitalists” is happening today
Warren Buffett will preside over Berkshire Hathaway’s 59th annual shareholders meeting today—an event expected to draw a large crowd to Omaha, Nebraska. Everyone will be watching to see what Buffett has to say about the economy, the state of the banking sector, his big bet on Apple, and his struggling “favorite child,”
Geico. Shareholders will also vote on six proposals on climate change, political advocacy, and the firm’s leadership, all of which Buffett opposes.
Posted on May 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
SDOH
By Staff Reporters
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READ: Social determinants of health aren’t just for patients. Health systems looking to promote health equity within their communities can start internally, by looking at their own workforce; according to HealthcareBrew.
Posted on May 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Markets: The relative calm after JPMorgan scooped up First Republic Bank lasted all of…one day. Two other West Coast lenders, PacificWest and Western Alliance, both tumbled in a sign investors still smell blood among regional banks.
Economy: Happy Fed Decision Day to all who celebrate. With inflation sizzling at still-uncomfortably high levels, Chair Jerome Powell is expected to announce the central bank’s 10th straight interest rate hike this afternoon. But many economists expect this rate increase could be the grand finale.
Layoffs jump to the highest level since late 2020. The number of job openings in the US dropped to a nearly two-year low in March, and layoffs increased to their highest point since December 2020, the Labor Department revealed yesterday. In this “bad news is good news” economic environment, the Fed will be pleased that the boiling-hot labor market is cooling off. It means less pressure on inflation and more justification to pause hiking rates.
Posted on May 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
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By Staff Reporters
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According to Wikipedia, May Day is a European festival of ancient origins marking the beginning of summer, usually celebrated on 1 May, around halfway between the spring equinox and summer solstice. Festivities may also be held the night before, known as May Eve.
But in 1889, it was chosen as the date for International Workers’ Day by the Second International, to commemorate the Haymarket affair in Chicago and the struggle for an eight-hour working day. As a result, International Workers’ Day is also called “May Day”, but the two are unrelated.
Posted on April 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Cigarette smoking hits a record low in the USA
Just 1 in 9 Americans smoked cigarettes last year, a record low, according to the CDC. Compared to the 1960s, when 42% of US adults smoked cigarettes, it’s a dramatic drop that reflects greater awareness of the health risks of smoking, and economic hurdles like cigarette taxes.
But Americans haven’t given up their nicotine addiction entirely. Vaping rose to almost 6% last year, and 14% of teens reported using e-cigarettes in another CDC study.
Posted on April 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
APRIL 23-29, 2023
By Staff Reporters
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This celebration is to honor and appreciate the important role laboratory professionals play in improving diagnostic innovation and accuracy, particularly in light of the rapidly evolving global public health climate. Join us in acknowledging and appreciating their contributions and commitment!
Medical Laboratory Professionals Week, an annual celebration of medical laboratory professionals and pathologists who play a vital role in health care and patient advocacy, takes place between April 23-29, 2023. CLSI is one of 17 laboratory medicine organizations responsible for coordinating this annual celebration of this profession.
Posted on April 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Economy: The US economy entered a 12 mph zone last quarter, slowing to an annual growth rate of 1.1% (short of estimates). While the growth figures were discouraging and a consequence of the Fed’s interest rate hikes, economists found some bright spots! It seems that consumers won’t stop shopping, resulting in a 3.7% increase in consumer spending. Still, some are waiting on that recession?
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So – Here’s where the key indexes settled yesterday.
The S&P 500 Index was up 79.36 (2%) at 4135.35; the Dow Jones industrial average was up 524.29 (1.6%) at 33,826.16; the NASDAQ Composite was up 287.89 (2.4%) at 12,142.24.
The 10-year Treasury yield was up about 9 basis points at 3.524%.
CBOE’s Volatility Index was down 1.90 at 16.94.
Small-cap companies, which tend to struggle more when economic growth stalls, remained at the back of the pack, with the Russell 2000 up slightly over 1%.
The energy sector continued to rank among the weakest-performing sectors, as crude oil futures continued trading near lows for the month.
Treasury yields jumped to one-week highs after the first-quarter gross domestic product (GDP) report showed inflation remained elevated.
Posted on April 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
ECONOMIC OUTPUT
By Staff Reporters
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A government report on U.S. economic output in the first quarter will shed light on how consumers and businesses are faring under high inflation, rising interest rates and the onset of banking problems. Consumer spending, the primary driver of growth, and hiring were surprisingly strong at the start of the year, but more recently slowed as the Federal Reserve continued raising interest rates to cool the economy and curb rapid price increases. TO WIT:
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Meta’s “Year of Efficiency” is off to a strong start: After three straight quarters of falling revenue last year, the company saw an uptick in ad sales for a 3% revenue jump from Q1 2022. Profits were down, but the company still beat expectations, and Facebook gained users again after losses last year. But not all of Mark Zuckerberg’s dreams are coming true—the company’s Metaverse unit lost almost $4 billion last quarter.
Chipotle—which hit near all-time highs after saying customers kept coming back for burrito bowls despite price increases.
The UK’s competition regulator blockedMicrosoft’s bid to acquire the Call of Duty-maker saying it would hurt competition in the cloud gaming sector. The move came as a shock because the regulator had previously said Microsoft had assuaged its concerns about the console gaming market. The decision, which Microsoft plans to appeal, puts a strain on the deal while the companies wait for competition decisions from the EU and the US, where the FTC has already sued to scuttle it.
Finally, while egg prices have fallen dramatically, one sector of the economy remains stubbornly expensive: rents.
In the latest consumer price index report, the shelter category (aka rents) was the largest contributor by far to overall inflation. And despite moderating in recent months, rent growth remains 17% higher than 2021 levels.
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