BOARD CERTIFICATION EXAM STUDY GUIDES Lower Extremity Trauma
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Posted on February 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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According to Alexandra Bruell at alexandra.bruell@wsj.com the aim of Meta Verified is to increase security and authenticity across the company’s services, Chief Executive Mark Zuckerberg said Sunday in social-media posts. It is also meant to “help up-and-coming creators grow their presence and build community faster,” according to a Meta spokesperson.
The service will cost $11.99 a month for Facebook and Instagram accounts that sign up from a web browser, or $14.99 a month for subscriptions through devices running Android and Apple Inc.’s iOS system, according to Meta. Tests of the service will begin in Australia and New Zealand this week.
In the coming months, the company expects it to roll out in the U.S. and eventually other markets, according to the spokesperson.
Posted on February 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. Markets will be closed for Presidents’ Day. The U.S. Markets will be closed on Monday, February 20, 2023. Please be aware that, when making brokerage transactions after 4 p.m. EST on Friday, February 17, 2023, you will receive the closing price as of Tuesday, February 21, 2023.
But crypto trading takes no days off, and despite the fallout from FTX’s collapse and a flurry of crackdowns by regulators, bitcoin has been on a nice run lately. Last Thursday, it topped $25,000 to hit an eight-month high.
PS: Did you know that Presidents Day (today) doesn’t actually fall on any president’s birthday? While originally celebrated on February 22, the day George Washington was born, the holiday was moved to the third Monday of February in 1971. That’s because Congress passed the Uniform Monday Holiday Act, which moved some federal holidays to Monday so we could all enjoy more three-day weekends.
Posted on February 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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HEALTH TRACKER UN-AVAILABLE
After three years of keeping us all updated on Covid case counts, Johns Hopkins University will stop updating its Covid-19 tracking dashboard next month. The tracker was viewed 2.5+ billion times and cost $13 million to run.
I worked at several FQHCs as a medical student and intern, back in the day, both in urban and suburban settings. But, I never was sure what this entity was, exactly. Probably because I was from an under served area, myself.
Thus, they are a critical component of the health care safety net. FQHCs are called Community/Migrant Health Centers (C/MHC), Community Health Centers (CHC), and 330 Funded Clinics. FQHCs are automatically designated as health professional shortage facilities.
Posted on February 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Gasoline prices have unexpectedly risen in January, at a time when Americans normally stay put and demand remains relatively flat. Last week, the national average price for regular gas crept up to $3.51 a gallon, according to the American Automobile Association (AAA), jumping up by 12 cents compared to a week before and 41 cents in December. As of today, regular gas was on average $3.49 a gallon. It was a dark surprise for American consumers wary of the skyrocketing prices experienced last summer when gas reached a record height of $5.02 a gallon on average nationwide
U.S. equities declined sharply following another hotter-than-expected read on inflation, as well as hawkish commentary from Fed officials, which seemed to complicate the outlook for further monetary policy tightening. January’s Producer Price Index (PPI) came in above estimates, causing more Fed uncertainty that had already ramped up following this week’s elevated consumer inflation report, and yesterday’s much stronger-than-anticipated retail sales data. A busy day of economic data also included a lower-than-projected level of jobless claims, softer-than-forecasted housing construction activity, and an unexpected tumble in manufacturing activity out of Philadelphia.
Treasury yields were higher following the inflation report, and the U.S. dollar increased, while crude oil prices nudged lower, and gold was little changed. Q4 earnings season continued to roll on, with Dow member Cisco Systems topping forecasts, though Shopify offered disappointing revenue guidance, and Paramount missed expectations.
Asian and European stocks finished higher for the most part, as investors grappled with the U.S. inflation data and monetary policy uncertainty.
The federal government on January 19th reached its approximately $31.4 trillion debt ceiling — which legally caps how much the U.S. can borrow to pay for what tax and other revenue doesn’t cover — and the Treasury Department has since been using “extraordinary measures” along with its current cash flow to keep the government’s obligations paid.
“CBO estimates that under its baseline budget projections, the Treasury would exhaust those measures and run out of cash sometime between July and September of this year,” according to the report.
Posted on February 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Microsoft (MSFT) ended a project that aimed to encourage the use of the Metaverse in industrial environments just four months after it was formed, according to a new report by The Information. The 100 members of the team have been laid off as the company wants to prioritize shorter-term projects over those needing longer to generate meaningful revenue.
Tech, led by Nvidia and Tesla, had it better than other sectors.
U.S. equities finished mixed, as investors digested the highly anticipated Consumer Price Index report, and its potential impact on the Fed’s future monetary policy decisions. The headline rate and core rate—excludes food and energy—both rose in line with estimates, but on a year-over-year basis inflation came in slightly hotter than expected. In other economic news, small business optimism rose slightly less than anticipated, and remained below its 48-year average for the thirteenth month in a row.
Earnings results were mixed, as Marriot International and Dow component Coca-Cola both bested EPS estimates and provided upbeat outlooks, while Restaurant Brands International missed earnings expectations, but increased its quarterly dividend.
Treasury yields were higher following the inflation data, and the U.S. dollar nudged lower, while crude oil prices fell, and gold was modestly higher in choppy trading. Asian stocks were mostly higher as markets in the region awaited the CPI report, while European stocks mostly added to its strong year-to-date gains amid the inflation data.
Posted on February 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. stocks rose ahead of some key January inflation data this week, which will begin with the Consumer Price Index (CPI) report. The economic calendar was dormant today, while Q4 earnings season continued down the back stretch, as Check Point Software Technologies topped estimates and announced an increase to its share buyback plan, while Fidelity National Information Services offered disappointing guidance.
Treasury yields were mixed, and the U.S. dollar was lower, while crude oil prices gained ground, and gold traded to the downside.
Asian stocks finished mostly lower ahead of the U.S. inflation data and as tensions between the U.S. and China remained, though markets in Europe rebounded from last week’s decline.
Posted on February 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
AN UPDATE
By Centers for Disease Control and Prevention
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The CDC is the nation’s leading science-based, data-driven, service organization that protects the public’s health. For more than 70 years, it put science into action to help children stay healthy so they can grow and learn; to help families, businesses, and communities fight disease and stay strong; and to protect the public’s health.
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And now, Emory University in Atlanta Georgia says goodbye to COVID vaccine requirements and updates guidance. For those who would like to read a copy of the most recent CDC guidelines on COVID: click here.
Posted on February 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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In a first-of-its-kind settlement with the SEC, the crypto exchange Kraken will stop offering crypto staking services in the US. The regulatory crackdown sent a chill across the crypto industry, since staking (crypto’s version of a high-yield savings account, as CoinDesk explains it) is a growing source of revenue for crypto platforms. Shares of Coinbase, the largest crypto exchange in the US, dropped the most since July on the news.
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The IRS is asking millions of taxpayers in 22 states including California and Colorado who received tax rebates last year to hold off on filing their taxes. Why? The agency said it is seeking to clarify whether those tax rebates and special refunds are considered taxable income. “We expect to provide additional clarity for as many states and taxpayers as possible next week,” the IRS said on February 3.
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Inflation going back up? The big economic data release of the week is Tuesday’s consumer price index report. It probably won’t be cause for celebration, because inflation is expected to have ticked back up in January. If so, it’ll fan more fears that the economy is heating up when the Fed wants it to keep cooling down.
Posted on February 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Nelson Peltz, the activist investor and head of Trian Fund Management, called a cease-fire after a month long proxy fight with Disney. Peltz said he was happy with the restructuring plan CEO Bob Iger announced and will no longer try to grab a seat on the board of directors. Along with his restructuring plan, Disney said that Toy Story, Frozen, and Zootopia will all get more sequels in an effort to boost the company’s streaming numbers.
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Microsoft Corp., implementing the layoff of 10,000 workers announced cut jobs in units including Surface devices, HoloLens mixed reality hardware and Xbox, according to Bloomberg and people familiar with the matter.
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Shares of ride-hailing firm Lyft plunged following a downbeat profit forecast. In fact, Lyft had its worst day ever after it shared a dismal outlook during its earnings call this week. Wedbush analyst Dan Ives called it “a Top 3 worst call” out of the thousands he’s listened in 22 years. The company’s shares fell about 36% after forecasting it’ll make between $5 million and $15 million this quarter—rather than the $85 million that analysts expected. Meanwhile, Uber is coming off its “strongest quarter ever,” according to CEO Dara Khosrowshahi.
Yields on the benchmark 10-year Treasury note rose to their highest in more than a month following an auction on Thursday of 30-year bonds that saw weak demand. [US].
Finally the S&P 500 gained 8.99 points, or 0.22%, to end at 4,090.49 points, while the NASDAQ Composite lost 71.12 points, or 0.60%, to 11,718.46. The Dow Jones Industrial Average rose 169.88 points, or 0.50%, to 33,869.76. The NASDAQ posted its first weekly fall this year, while the S&P 500 ended the week lower in a week dominated by hawkish commentary from U.S. Federal Reserve officials and earnings reports from more than half of the S&P 500 constituents.
Posted on February 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
The AI Gloves are Coming Off?
By Staff Reporters
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Google (GOOG, GOOGL) just announced several new AI-powered features for its Search, Maps, and Lens apps. The announcement comes just a day after rival Microsoft (MSFT) rolled out a new version of its Bing search engine complete with generative AI capabilities, bringing a rare threat to Google’s search supremacy.
But, shares of Google parent company Alphabet were down more than 7% today as investors expressed skepticism about these new features.
On December 19, 2022, the Department of Health and Human Services (HHS) Office of Inspector General (OIG) published Advisory Opinion (AO) No. 22-20, analyzing the utilization of nurse practitioners (NPs) in lieu of attending physicians within medical units. The OIG concluded that the arrangement utilizing NPs in certain medical units, subject to several safeguards, presented a low risk for fraud or abuse.
As noted by legal experts, this AO deviates from OIG’s typical approach to limiting arrangements involving potential remuneration from a hospital to its referring physicians. (Read more…)
Posted on February 6, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Ark Investment Management’s chief executive Cathie Wood is upbeat about her strategy of investing in young technology companies. After her exchange-traded funds dropped 60% to 80% last year from highs in 2021, Woods talked about the current stock market environment in a year-end commentary Dec. 29, 2022.
“We’re getting a lot of deflationary signals, but the Fed isn’t buying in yet,” Wood said, referring to the Federal Reserve’s continuing interest-rate increases. “But the bond market will start to convince the Fed,” Wood said. “The bond market is telegraphing much lower-than-expected inflation and/or recession.”
That prediction seemed to be validated February 1st. when the Federal Open Market Committee (FOMC) raised interest rates by only 25 basis points. That was smaller than the 50 basis points it had raised them by in December and the 75 basis points it had increased the rates by in each of its previous four meetings. The Fed seemed to have been recognizing the deflationary signs.
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Markets: In the five weeks of trading so far in 2023, the NASDAQ gained in all five and the S&P 500 in four. The still-booming labor market and falling inflation appear to be outweighing poor corporate earnings in investors’ minds.
Posted on February 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stocks ended the week subdued when a red-hot jobs report once again got investors biting their nails over what the Fed will do next—though the S&P and NASDAQ both eked out positive weeks. The tech stock rally started losing steam after several big companies reported disappointing quarterly results, with Amazon being the one investors cooled on most.
More specifically, racing game publisher Motorsport Games (NASDAQ:MSGM) is seeing more volatility, tumbling 24.2% Friday after announcing a $4M at-the-market offering. The company entered a definitive agreement to issue and sell 232,188 shares of its class A common stock at $17.39 per share. The stock has slid $5.46 to trade at $17.50. The closing of this new offering is set for on or around February 7th with H.C. Wainwright & Co. acting as exclusive placement agent. Gross proceeds will be about $4.03M, which Motorsport Games will put toward development of multiple games, working capital and general purposes.
Still, it was the most eventful week for the stock in many months. On Monday it launched a debt-for-equity exchange to shore up its balance sheet, sending the stock lower by 8.7%. After regaining full compliance with Nasdaq listing rules, the stock jumped 714% Tuesday, moving from $2.63 a share to $21.40. After moving up another 73% Wednesday, the company then moved to convert all remaining debt in a new debt-for-equity exchange, and the stock fell 38% Thursday. Before Friday’s decline, the stock moved up an aggregate 482% in five days.
Posted on February 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Not even the healthcare industry is recession-proof
By Staff Reporters
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According to Kristine White of Healthcare Brew, New York City-based Memorial Sloan Kettering Cancer Center (MSK), one of the country’s top cancer treatment facilities, laid off 337 employees on Jan. 17 in response to ongoing financial challenges, according to a New York State Department of Labor filing.
The 337 employees, who worked across 14 sites and in multiple departments, represent about 1.5% of MSK’s 22,500 employees. This is a slight decrease from the expected 3% of layoffs announced in November 2022.
“This reduction was necessary to ensure that MSK can continue to invest in the future of cancer care, research, and education for the benefit of generations to come, and every effort has been made to ensure that patient care is not impacted,” spokesperson John Connolly said in a statement shared with Healthcare Brew.
The institution’s operating losses totaled $116.1 million for Q3 of 2022, compared to a loss of $8.7 million during the same period in 2021, according to a quarterly financial report released in November last year.
Factors such as increased patient activity, wages, and supply costs from inflation pushed the system’s operating expenses up by 7.5% from Q3 of 2021 to Q3 of 2022. The cancer center hired more staff in 2022 with the expectation that patient volume would increase, according to the financial report.
Health systems like MSK often reevaluate their biggest expense (workers) when business is down, Lori Kalic, a healthcare senior analyst at consulting firm RSM, told Healthcare Brew.
Just this year, multiple hospitals and health systems have also announced layoffs, including Tufts Medicine in Boston and Integris Health in Oklahoma, according to White.
Posted on February 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Treasury yields jumped after a much stronger-than-expected U.S. January jobs report clouded investor expectations for the Federal Reserve to end its interest rate hiking cycle in coming months. Treasury Yields and debt prices move opposite each other:
The yield on the 2-year Treasury note rose 14.9 basis points to 4.233%.
The 10-year Treasury note yield jumped 9.9 basis points to 3.498%.
The 30-year Treasury bond yield was up 6.9 basis points at 3.626%.
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U.S. equities declined in a choppy trading session following a stronger-than-expected January labor report, and some uninspiring earnings results from mega-cap stocks. Non farm payroll additions beat estimates by a large amount, and the unemployment rate declined, solidifying the notion of a tight job market.
Meanwhile, a read on domestic services sector activity moved back into expansion territory. Mega-cap stocks were in focus today, as Dow member Apple missed estimates and posted its first quarterly decline in revenues since 2019, and Alphabet also posted discouraging quarterly results, while Qualcomm bested EPS estimates by a penny, but fell short on the revenue side.
Notably, the retail giant Amazon is finally starting to feel the economic pinch. The e-commerce company, which most people thought was unstoppable, has reportedly had its first unprofitable year since 2014. The company released this week that it has lost over $2 billion in 2022, despite holiday-season sales increasing by 9%.
Asian and European stocks finished mixed, as the markets continued to process the week’s monetary policy decisions, as well as some services sector data across the globe.
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Elon Musk was found not liable for investors’ losses in a securities fraud trial over his 2018 tweet that he had “funding secured” to take Tesla private at $420 per share, continuing the tech mogul’s streak of favorable verdicts over his erratic behavior. Plaintiff Glen Littleton and fellow members of the class action sued Musk and Tesla, including its board of directors, over the tweet and Musk’s subsequent statements, alleging the notion that financing was in place had been false. They said shareholders suffered steep financial harms because of panicked sales in the 10 days following the tweet, as Tesla and Musk engaged in damage control.
Posted on February 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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US employers in January announced the most job cuts since 2020, according to data compiled by Challenger, Gray & Christmas, Inc. Businesses reported 102,943 cuts in the month, more than twice those announced in December and up 440% from January 2022. The technology sector made up 41% of the planned reductions. Announced layoffs at retailers and financial companies also climbed from a year ago.
Meanwhile, U.S. stocks ended the day mixed, with the S&P 500 and NASDAQ adding to yesterday’s rally that came as the Fed hiked rates by a decelerated amount and suggested that it may be nearing the end of its tightening cycle. The global markets also reacted to 50-basis point rate increases from the European Central Bank and Bank of England.
Earnings continued to pour in, with Meta Platform jumping after some upbeat guidance, and Eli Lilly and Company saw pressure after some softer-than-expected revenue growth. The economic calendar delivered some positive news, with Q4 productivity much stronger than expected and unit labor costs slowing more than anticipated, and jobless claims continued to slide, while factory orders missed estimates.
Treasury yields were unchanged, and the U.S. dollar gained ground, while crude oil and gold prices declined. Asian stocks finished mixed following the Fed’s decision, and markets in Europe were mostly higher in the wake of the monetary policy decisions in the region.
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Finally, a Japanese maker of flying motorbikes will list on the NASDAQ stock exchange and start trading in New York, making it the fifth company from the Asian nation to join the tech-heavy bourse, according to Bloomberg. Tokyo-based ALI Technologies Inc. is going public through a merger with the blank-check firm Pono Capital Corp. Under terms of the deal, ALI Technologies will become a fully owned unit of its US arm, Aerwins Technologies, the people said, asking not to be named because the information isn’t yet public. Its market cap is expected to be at least $600 million, in line with its target last year despite a market selloff. Its ticker will be AWIN.
Posted on February 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
INFLATION STILL LOOMING?
By Staff Reporters
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According to Bloomberg, applications for US unemployment benefits fell for the fourth time in five weeks, underscoring the broad resilience of the job market that threatens to keep inflation elevated. Initial unemployment claims ticked down by 3,000 to 183,000 in the week ended January 28th, the lowest since April, Labor Department data showed Thursday. The median forecast in a Bloomberg survey of economists called for 195,000 applications.
Continuing claims, which include people who have already received unemployment benefits for a week or more, fell to 1.66 million in the week ended January 21st. The labor market, while cooling at the margins, is still tight by many measures and remains one of the key hurdles in the Federal Reserve’s fight against inflation. Even though payrolls growth has slowed and companies in technology and banking have laid off staff in recent months, demand for workers still far exceeds supply, which could put upward pressure on wages and broader prices.
Posted on February 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Entrepreneurial MD
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In this episode, we talk about the importance of building a personal brand, regardless of whether you own your own practice or are employed. We touch on why this is important, what are the most common mistakes doctors make when doing it and how to get started.
Posted on February 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
BUT …NOT SAMSUNG
By Staff Reporters
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Due to a lack of demand for chips and a slowdown in its data processing center business, Intel just reported its worst financial results since the dot-com bubble popped at the turn of the century. Though the stock only ended up falling 6.4% by the time the market closed yesterday, Wall Street definitely took notice of the company’s troubles.
And so, twenty-one analysts slashed what they thought it was worth, and many did not hold back in describing the chip maker’s fall. “No words can portray or explain the historic collapse of Intel,” one said according to Bloomberg.
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Samsung Electronics Co., however, made a surprisingly aggressive decision to keep capital spending at the same level as last year, defying expectations it would go along with rivals in pulling back to alleviate pressure on an already-battered semiconductor industry. The result will be more pressure on chip pricing than if the Korean giant had pulled back spending on new machinery and factory capacity.
Posted on February 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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President Biden plans to end both the public health and national emergencies originally declared to address the Covid pandemic in 2020 (and extended several times since) on May 11th 2023.
The White House just disclosed the plan while opposing efforts by Republican lawmakers to end the emergency declarations immediately with a bill called the Pandemic Is Over Act. The end of the emergencies will mean that many Americans will have to start paying for COVID tests, treatments, and vaccines.
It also signals a shift in how serious the government considers the pandemic to be. But, is this wise?
Posted on January 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Whether we’ve got a recession coming remains the biggest will they or won’t they story, but it looks like more Americans are starting to sock away cash just in case.
Data just released by the Department of Commerce puts the savings rate for December at 3.4%—the highest level in seven months and the biggest uptick from the previous month since July 2021 (November’s rate was 2.9%).
Posted on January 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Serta Simmons Bedding, the Georgia-based mattress maker owned by private equity firm Advent International, has filed for Chapter 11 bankruptcy protection. The prepackaged bankruptcy filing includes $125 million of debtor-in-possession financing and another $125 million once it exits Chapter 11.
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U.S. equities finished mixed in a lackluster trading session, as Q4 earnings season shifted into a higher gear today. Corporate results from several Dow members were in focus, as 3M missed estimates and reported that it would reduce its global workforce by approximately 2,500 jobs. Verizon Communications and Travelers Companies reported bottom-line results that were in line with expectations, and the former offered some disappointing full-year guidance, while Johnson & Johnson missed estimates amid a decline in revenues citing unfavorable foreign exchange and lower COVID vaccine sales.
Additionally, Lockheed Martin bested forecasts but issued EPS guidance that was lower than anticipated. The economic calendar offered several reports on domestic activity, as manufacturing and services PMIs unexpectedly rose but remained contractionary in January, while manufacturing activity in the Richmond region fell much more than expected.
Treasury rates were lower, and the U.S. dollar dipped, while crude oil prices fell, and gold was higher.
Asian stocks rose although volume remained light as Chinese and South Korean markets were closed for a holiday, while European stocks were mixed amid a host of PMI data across the globe.
Posted on January 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Lunar New Year is the beginning of a lunar calendar or lunisolar calendar year, whose months are moon cycles. The event is celebrated by numerous cultures in different ways and at different dates.
It is also celebrated by other cultures, such as the Nisga’a people of Canada. The determination of the first day of a new lunar year varies by culture.
Posted on January 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Cervical Health Awareness Month
The United States Congress designated January as Cervical Health Awareness Month. More than 14,000 women in the United States are diagnosed with invasive cervical cancer each year, but the disease is preventable with vaccination and appropriate screening.
During January, NCCC and its many local chapters across the country highlight issues related to cervical cancer, HPV disease and the importance of early detection. While NCCC chapters host events throughout the year, January is a month with a special focus as chapters celebrate Cervical Health Awareness Month and work to spread the word in their communities.
NCCC and the American Sexual Health Association (ASHA) also offer a range of resources (listed below) to educate the public and healthcare providers about cervical health, from fact sheets to episodes of ASHA’s Sex+Health podcast.
Posted on January 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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As you likely know, the US spends muchon healthcare ($4.3 trillion in 2021, to be exact). But did you also know that healthcare fraud makes up a not-so-small piece of that pie?
The National Health Care Anti-Fraud Association (NHCAA), a national organization that works to prevent health insurance fraud, conservatively estimates that 3% of the US’s total annual healthcare spend—a hearty $129 billion—is lost to healthcare fraud. Some government agencies estimate that percentage to be as high as 10% (that’s $430 billion), according to the NHCAA.
Overall, Medicare fraud costs the US about $60 billion each year, Nicole Liebau, national resource center director for Senior Medicare Patrol, a government-funded organization designed to help prevent Medicare fraud, told Healthcare Brew, though she added that “the exact figure is impossible to measure.”
While Medicare fraud isn’t new, the US saw a rise in one particular tactic during the pandemic: a durable medical equipment (DME) scheme.
How the schemes work.
In a DME scheme, scammers target Medicare patients—often after a procedure or an injury—and cold-call them to offer free equipment, said Jennifer Stewart, senior associate general counsel and senior director of fraud prevention and investigation at Blue Cross Blue Shield of Massachusetts. The scammers offer consumers items like lidocaine, wheelchairs, walkers, or braces.
The scammers have roped in doctors—who are often unaware they’re working with scammers instead of legitimate medical companies—to sign off on prescriptions that are then used to bill Medicare for the equipment, Stewart said. Sometimes patients actually receive the products, and sometimes they don’t.
“It’s really dangerous because [a prescription like lidocaine] could have reactions with other medications. The durable medical equipment isn’t sized for them, and certainly the doctor who treated their injury didn’t prescribe it […] There is a lot of patient harm involved,” Stewart said. Keep reading here.
Turnitin (stylized as turnitin) is an Internet-based plagiarism detection service run by the American company Turnitin, LLC, a subsidiary of Advance Publications.
Founded in 1998, it sells its licenses to universities and high schools who then use the software as a service (SaaS) website to check submitted documents against its database and the content of other websites with the aim of identifying plagiarism. Results can identify similarities with existing sources and can also be used in formative assessment to help students learn to avoid plagiarism and improve their writing.
Students may be required to submit work to Turnitin as a requirement of taking a certain course or class. The software has been a source of controversy, with some students refusing to submit, arguing that requiring submission implies a presumption of guilt. Some critics have alleged that use of this proprietary software violates educational privacy as well as international intellectual-property laws, and exploits students’ works for commercial purposes by permanently storing them in Turnitin’s privately held database.
Turnitin, LLC also runs the informational website plagiarism.org and offers a similar plagiarism-detection service for newspaper editors and book and magazine publishers called iThenticate. Other tools included with the Turnitin suite are GradeMark (online grading and corrective feedback) and PeerMark (student peer-review service).
NOTE: According to Wikipedia, in March 2019, Advance Publications acquired private Turnitin, LLC for US$1.75 billion.
Posted on January 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The U.S. Financial Markets will be closed today, Monday January 16th 2023, for Martin Luther King, Jr. Day.
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This federal holiday was first observed in 1986. In 1994, Congress passed the King Holiday and Service Act, designating the Martin Luther King Jr. Federal Holiday as a national day of service and charged the Corporation for National and Community Service with leading this effort.
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House Oversight Committee Chairman James Comer just said he hoped a U.S. debt default could be avoided. A default would greatly impact the economy and people in the U.S: A default would increase interest rates, which would then increase prices and contribute to inflation. The stock market would also suffer, as U.S. investments would not be seen as safe as they once were, especially if the U.S. credit rating was downgraded. Fortunately, the U.S. has never reached the point of default where the Treasury was incapable of paying U.S. debt obligations, though it has been close on several occasions. The only exception was during the War of 1812 when parts of Washington D.C. including the Treasury were burned.
Posted on January 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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A judge just ruled that a group of laid-off Twitter employees suing the business over their severance compensation, have to pursue their claims individually rather than as part of a class action, according to a Bloomberg report. About 500 of the roughly 3,700 Twitter employees Elon Musk laid off since taking control of the company last year have already filed individual arbitration claims, according to Shannon Liss-Riordan, the lawyer who filed those claims on the workers’ behalf.
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SPAC SEEKING SPAC: Money-losing companies that recently went public via SPAC are combining with other SPACs to secure more funding and stay afloat. The ultimate goal is one giant SPAC?
Posted on January 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
Triskaidekaphobia
Triskaidekaphobia (/ˌtrɪskaɪˌdɛkəˈfoʊbiə/ TRIS-kye-DEK-ə-FOH-bee-ə, TRIS-kə-; from Ancient Greek τρεισκαίδεκα (treiskaídeka) ‘thirteen’, and Ancient Greek φόβος (phóbos) ‘fear’) is fear or avoidance of the number 13.
It is also a reason for the fear of Friday the 13th, called paraskevidekatriaphobia (from Greek Παρασκευή (Paraskevi) ‘Friday’, Greek δεκατρείς (dekatreís) ‘thirteen’, and Ancient Greek φόβος (phóbos) ‘fear’) or friggatriskaidekaphobia (from Old Norse Frigg ‘Frigg’, Ancient Greek τρεισκαίδεκα (treiskaídeka) ‘thirteen’, and Ancient Greek φόβος (phóbos) ‘fear’).
Posted on January 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Consumer price data will offer clues about the Federal Reserve’s next policy move, while quarterly results from big banks get fourth quarter earnings season underway.
The stock market rally to kick off 2023 will be put to the test next week when investors face a highly-awaited inflation reading and the start of fourth quarter earnings season, which will be led by big banks.
And, this Thursday morning will bring December’s Consumer Price Index (CPI), a release likely to dictate bets on whether the Federal Reserve raises interest rates by 0.25% or 0.50% at the start of next month.
According to Yahoo Funance, economists expect headline CPI rose 6.6% over the prior year in December, a downshift from the 7.1% increase seen in November, according to data from Bloomberg. On a month-over-month basis, CPI likely stayed flat.
Core CPI, which removes the volatile food and energy components of the report and is closely tracked by the Fed, is also expected to have risen at a slower pace last month, coming in at 5.7% after a 6% increase in November. Over the prior month, core CPI is expected to rise 0.3% after a 0.2% jump in November.
Policymakers monitor “core” inflation more closely due to its nuanced look at key inputs like housing, while the headline CPI figure has moved largely in tandem with volatile energy prices this year.
Posted on January 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
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Dry January is a campaign delivered by Alcohol Change UK where people sign up to abstain from alcohol for the month of January. The term “Dry January” is a registered trademark with Alcohol Change UK and was first registered in 2014.
The campaign was first delivered in 2013 by Alcohol Concern (now called Alcohol Change UK) and 2023 marks the 10th anniversary of the campaign. Emily Robinson, founded the campaign after taking a month off alcohol in January 2011 to prepare for a half marathon. After noticing the benefits and people’s interest in her month off alcohol she decided to start the campaign when she joined Alcohol Concern in 2012. Around the same time Nicole Brodeur of The Seattle Times wrote a column on her first Dry January motivated by a friend who had done the same for several years before.
In its first year, 4,000 people signed up for Dry January and it has grown in popularity ever since with over 130,000 people signing up to take part in 2022. Dry January was endorsed by Public Health England in 2015 leading to a large uptake in numbers and steady increase in participants year on year. Research by the University of Sussex published in 2020 found that those signing up to take part in Dry January using Alcohol Change UK’s free Try Dry app and/or coaching emails were twice as likely to have a completely alcohol-free month, compared to those who try to avoid alcohol on their own in January, and have significantly improved well-being and healthier drinking six months later.
Posted on January 7, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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A multi-disciplinary panel of doctors and IT experts from Asia, the United States, and Europe analyzed published articles regarding expert consensus on the Medical Internet of Things, with reference to study results in the field of metaverse technology.
Silvergate Capital Corporation reported a sharp drop in fourth-quarter crypto-related deposits on Thursday as investors spooked by the collapse of FTX pulled out more than $8 billion in deposits, sending shares down more than 42%. The crypto-focused bank also said it would cut its workforce by 40%, or about 200 employees, as it tries to rein in costs amid a deepening industry downturn. Its stock was last trading at $12.55.
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U.S. stocks were lower as the markets continued to speculate as to how long the Fed will keep its monetary policy tight. Yesterday’s minutes from the Fed’s December meeting suggested that the Central Bank will remain aggressive. Jobs data pointed to a tight labor market, as the ADP Employment Change Report came in higher than expected, and jobless claims were lower than anticipated, which seemed to be solidifying expectations of further rate hikes. Services sector data also came out, with output being revised higher but continuing to depict contraction.
Treasury yields were mixed, and the U.S. dollar rallied following the data, while crude oil prices rose, and gold dropped.
Equity news offered varying results, as Exxon Mobil offered mixed Q4 guidance, T-Mobile US’ phone customers topped forecasts, Constellation Brands missed earnings estimates and lowered guidance, and Conagra Brands topped quarterly estimates.
Finally, Asian stocks finished mostly higher, and European stocks were mixed following a three-day winning streak, as the markets digested the Fed’s minutes and amid optimism regarding China’s reopening.
Posted on January 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Stocks are coming off their worst year since 2008 due to investors misjudging how high inflation would soar and the lengths central banks would go to bring it back down.
For example, Global equities lost a record $18 trillion in 2022 amid nearly 300 interest rate hikes from central banks around the world.
But not all stocks were clobbered equally by Jerome Powell and Co.: High-growth tech companies that got a boost from an era of low interest rates got rocked the most in what some are calling the sequel to the bursting of the dot-com bubble in 2000–01. The tech-heavy NASDAQ posted four straight negative quarters for the first time since that crash.
Others survived unscathed. The energy sector soared 59% last year thanks to a boost from surging oil prices. Exxon Mobil finished the year as the eighth-most valuable public company in the US, despite starting 2022 outside the top 25.
The Future?
No one really knows, but analysts generally think stocks will go sideways, weighed down by more rate hikes and a potential recession. The average Bloomberg projection for the S&P at the end of 2023 is 4,009 points (the index closed 2022 at 3,839.50).
Another down year would be extremely rare: The S&P has dropped for two consecutive years in just four instances since 1928.
Posted on January 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
The Fed hikes interest rates, sending economy teetering toward a recession?
If everyone was an opinionated virologist in 2020, then 2022 turned us all into macro-economists. In an effort to fight historic inflation, the Fed raised its benchmark interest rate seven times this year, pushing it to a 15-year high. Chair Jerome Powell’s hawkish turn slowed the economy and was a major catalyst for the brutal sell-off in stocks, particularly in the tech sector. This year, Amazon became the first public company to lose $1 trillion in market value.
The U.S. housing market is experiencing its second-biggest home price correction of the post-World War II era. Macro Trends Advisors founding partner Mitch Roschelle attributed the massive correction to Americans’ uncertainty for the markets and their “uneasiness” regarding the economy. He explained on “Varney & Co.” that the “shoe to drop” would be if the nation starts to see a rise in unemployment, which could cause a “leg down” in the housing market.
Finis?
So what’s ahead for 2023? According to MorningBrew, Economists think that a recession is likely, but a few are holding out hope that the Fed can achieve a so-called “soft landing,” where it brings inflation down to normal levels without causing the economy to shrink. Recent months have brought cautiously hopeful news: Annual inflation has cooled from a peak of 9.1% to 7.1%, so rate hikes are expected to be much less aggressive next year.
Posted on December 31, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
NO SANTA CLAUSE RALLY THIS YEAR!
By Staff Reporters
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Tesla CEO Elon Musk’s net worth has shrunk by an astounding $140 billion, slashing his wealth to $130 billion as of 2022, according to the Bloomberg Billionaires Index. The sharp decline reflects the roughly 70% drop in Tesla stock this year, driven by investors swapping technology stocks for safer assets, worrying that running Twitter is a costly distraction for Musk, and fearing a US economic downturn and overseas headwinds will hit the automaker’s growth.
Meanwhile, Amazon founder Jeff Bezos’ wealth has fallen by $86 billion, while Alphabet cofounders Larry Page and Sergey Brin have seen their fortunes shrink by a combined $91 billion. Microsoft cofounder Bill Gates’ net worth has also tumbled by $29 billion, while former CEO Steve Ballmer has taken a $21 billion hit.
Similarly, Oracle cofounder and Tesla investor Larry Ellison has suffered a $17 billion blow to his fortune, while Warren Buffett’s wealth has only dropped by $3 billion. The eight Americans, along with LVMH’s Bernard Arnault, Adani Group’s Gautam Adani, and Reliance Industries’ Mukesh Ambani, hold the top 11 spots in Bloomberg’s global wealth rankings.
Posted on December 30, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 225,000 for the week ending December 24th, the Labor Department reported, in line with the median estimate among economists polled by Reuters. Meanwhile, the number of people receiving benefits after an initial week of aid rose 41,000 to 1.710 million in the week ending December, 17th, 2022.
Meanwhile, Amazon stock closed the December 22 trading session at $83.79, which represents a 49.7% drop compared to December 31, 2021. This is the lowest closing level for the Amazon stock since March 12, 2019. Basically, the group, founded by Jeff Bezos, has completely erased all the gains during the two years when strict restrictions were put in place to limit the spread of COVID-19. It closed today at $84.18.
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Finally, U.S. stocks rose sharply, ending a two-session losing streak, though trading volumes remain subdued in the final days of the year. The heavyweight Information Technology sector led the rally, rebounding from a recent drop that has weighed on the markets this week. The equity front continued to offer little in terms of headlines, though shares of Cal-Maine Foods fell after the company missed earnings estimates.
The economic calendar introduced labor data, as jobless claims ticked slightly higher compared to the prior week.
Treasury yields were mixed, the U.S. dollar dropped, crude oil prices were lower, and gold traded higher.
Asian stocks finished mostly lower after yesterday’s downturn in the U.S., while markets in Europe were higher despite uncertainty regarding the ultimate global impact of aggressive monetary policy tightening across the world.
Posted on December 28, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
SUSPICIOUS AFFINITY MARKETING?
By Staff Reporters
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DEFINITION: Affinity marketing is a concept that consists of a partnership between a company and an organization that gathers persons sharing the same interests to bring a greater consumer base to their service, product or opinion. This partnership is known as an affinity group.
So, after the collapse of Sam Bankman-Fried’s crypto exchange FTX, a number of celebs who had acted as ambassadors for the company were named as defendants in a class-action suit against it.
Comedian and Seinfeld creator Larry David, Tampa Bay Buccaneers quarterback Tom Brady, and basketball stars Shaquille O’Neal and Stephen Curry were likely trading lawyer recommendations in the A-lister group chat.
Posted on December 27, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Since Christmas Day [Sunday], the U.S. stock markets were closed on Monday, December, 26th, 2022.
OPENTODAY!
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Nevertheless, nearly 125,000 employees lost their jobs this year as more than 120 large U.S. tech companies, banks and manufacturers implemented massive rounds of layoffs, according to the Forbeslayoff tracker, which documented major cuts (over 100) beginning in June when recession fears began to surge.
That’s a troubling figure for what had been one of the economy’s strongest growth sectors, but economists don’t expect it to spell doom for other industries. Even as tech companies downsized, the broader labor market remained strong throughout the year, with the unemployment rate ticking up slightly, to just 3.7% as of November.
Happy Holidays from the Institute of Medical Business Advisors, Inc
At this special time of year, we give thanks for our clients and our employees, as well as all essential workers in hospitals, health centers and medical practices across the country.
May the holiday spirit be with you and your family throughout the season and everyday We look forward to serving you in 2024.
Posted on December 24, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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he emerging Omicron subvariant XBB contributes to an increasingly high number of COVID-19 cases in the U.S., rivaling the sister strains BQ.1.1 and BQ.1, according to the latest estimates from the Centers for Disease Control and Prevention (CDC).
Recent studies have indicated that the updated bivalent COVID-19 booster performed poorly against BQ.1.1, with even a weaker antibody response against XBB.
In late November, citing its poor neutralization effect on BQ.1 and BQ.1.1., the FDA pulled the emergency use authorization granted for bebtelovimab, a COVID-19 antibody therapy developed by Eli Lilly (LLY) and AbCellera Biologics (ABCL).
The CDC estimates for the week ending Dec. 24 show that XBB has made up ~18% of COVID cases in the U.S. compared to ~11% a week ago. Meanwhile, BQ.1.1 has led to ~36% of cases unchanged from a week ago, and BQ.1 caused ~27% of cases, a decline from ~29% last week.
Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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According to Wikipedia, the winter solstice, also called the hibernal solstice, occurs when either of Earth‘s poles reaches its maximum tilt away from the Sun. This happens twice yearly, once in each hemisphere (Northern and Southern). For that hemisphere, the winter solstice is the day with the shortest period of daylight and longest night of the year, when the Sun is at its lowest daily maximum elevation in the sky. Either pole experiences continuous darkness or twilight around its winter solstice. The opposite event is the summer solstice.
The winter solstice occurs during the hemisphere’s winter. In the Northern Hemisphere, this is the December solstice (usually 21st or 22nd December) and in the Southern Hemisphere, this is the June solstice (usually 20th or 21st of June). Although the winter solstice itself lasts only a moment, the term also refers to the day on which it occurs. The term midwinter is also used synonymously with the winter solstice, although it carries other meanings as well. Traditionally, in many temperate regions, the winter solstice is seen as the middle of winter; although today in some countries and calendars it is seen as the beginning of winter. Other names are the “extreme of winter” (Dongzhi), or the “shortest day”.
Since prehistory, the winter solstice has been a significant time of year in many cultures and has been marked by festivals and rituals. It marked the symbolic death and rebirth of the Sun; the gradual waning of daylight hours is reversed and begins to grow again. Some ancient monuments such as Newgrange, Stonehenge, and Cahokia Woodhenge are aligned with the sunrise or sunset on the winter solstice.
Posted on December 21, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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The Winter Solstice, or the December Solstice, is the point at which the path of the sun in the sky is farthest south. At the Winter Solstice, the sun travels the shortest path through the sky resulting in the day of the year with the least sunlight and therefore, the longest night.
Telehealth extension: Tucked in the new Congress’ spending bill is an extension of HHS rules that made telehealth more accessible during the pandemic. But the provision, which extends the flexibility through the end of 2024, falls far short of a push from some lawmakers who wanted to make that flexibility permanent.
Traditional guidance says not to spend more than 4% of your retirement savings in the first year to protect yourself from running out of money in your golden years. A new recommendation puts that figure at 3.8% with a 30-year time horizon, according to researchers at Morningstar Inc., a half-point higher than the 3.3% withdrawal they recommended in 2022 due to expectations for lower future investment returns. That means if you retire this year with a $640,000 portfolio invested 50% in stocks and 50% in bonds, you should take out no more than $24,320 in 2023.
U.S. equities finished higher in choppy action, posting the first gains in four sessions, as investors digested a host of monetary policy decisions from central banks in Asia. The Bank of Japan and People’s Bank of China kept their respective benchmark interest rates unchanged, but the former surprisingly tweaked its yield curve control policy.
Equity news was on the light side today, as General Mills beat earnings estimates and raised its full-year guidance, and shares of Steel Dynamics gained ground after it was announced that it would replace ABIOMED in the S&P 500.
On the economic front, housing starts declined less than anticipated, while building permits fell much more than expectations. Treasury yields rose, particularly on the long end of the curve, while the U.S. dollar fell, crude oil prices saw a modest increase, and gold prices rallied.
Asian stocks finished broadly lower and market in Europe diverged amid the host of monetary policy decisions.
Posted on December 19, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Here’s what Covid vaccines have to do with auto insurance
A new study of 11 million adults in Canada revealed that people who weren’t vaccinated against Covid were 72% more likely to get into car accidents where at least one person had to go to the hospital.
Now, that doesn’t mean your jab protects against car accidents, of course, but it does suggest that folks who reject public health recommendations might also reject road rules. The difference was striking enough that the researchers said doctors should discuss road safety with unvaccinated patients, and that car insurance companies might want to factor it into their rates.
Posted on December 19, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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Laid off tech workers from Meta, Google and Twitter are being wooed by the federal government
Skilled tech workers laid off are in demand and the U.S. Department of Veterans Affairs wants to hire them.
The VA is looking to pay higher salaries than the agency had in the past and wants to make the hiring process easier. It’s banking on the mission of the agency to be a draw for talented tech workers.
Moreover, economic reports last week may have ushered in a new era for the stock market and some of these companies—one where investors are less concerned about inflation and more worried about an oncoming recession. Either way, there’s not a lot of hope on Wall Street right now and, barring a miracle, all three indexes will close out the year solidly in the red.
Finally, Tesla posted its worst week since March 2020 as investors increasingly call out Elon Musk for focusing his efforts on Twitter (but maybe that’s coming to an end…) In fact, Musk posted a poll asking users whether he should step down as the company’s chief executive (“I will abide by the results of this poll,” he said.) As of 5am ET, more than 57% voted “yes”—he should step down.
Posted on December 17, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
MORGAN STANLEY
BANK OF AMERICA
By Staff Reporters
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[The Scream is a composition created by Norwegian artist Edvard Munch in 1893]
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What [another] a week? U.S. equities declined, posting a second-straight weekly loss, as recession worries have ratcheted higher in the wake of a host of global central bank actions earlier this week. The Fed’s mid-week 50 basis point rate increase was followed by similar actions from the European Central Bank, the Bank of England, and Swiss National Bank. The moves came amid an evident slowdown in global economic growth, with data released today showing most manufacturing and services PMIs domestically and across the globe continue to see a contraction in activity, adding fuel to the recessionary fears.
RECESSION?
With U.S. stocks down more than 20% so far this year, investors are looking for some good news – and it may be coming from a prominent Wall Street analyst who says the current bear market could come to an end sometime around St. Patrick’s Day, 2023.
In an interview with Bloomberg Television, Mike Wilson, the Equity Strategist and Chief Investment Officer for Morgan Stanley predicted that the bear market in U.S. stocks could come to a conclusion early in 2023. Investors are taking note because Wilson, who’s typically skeptical about the market, is listed as No. 1 on Institutional Investor’s recent ranking of portfolio strategists.
WHEN?
“We think ultimately the bear market will be over probably sometime in the first quarter,” Wilson said on the broadcast.
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Mutual Fund managers have taken their cash positions to the highest level in 21 years, according to the long-running monthly survey of portfolio managers. Relative to the history of the survey, investors are 2.6 standard deviations overweight cash and 3 standard deviations underweight equities.
A net 72% expect a weaker economy in the next 12 months, and 91% say earnings are unlikely to rise 10% of more in the next year. A growing percentage are expecting a policy pivot: 28% expect lower short-term rates in the next 12 months, up from 14% in September.
The survey “screams macro capitulation, investor capitulation, and crucially start of policy capitulation,” said Bank of America strategists led by Michael Hartnett. The S&P 500 has dropped 23% this year, and S&P’s U.S. government bond index has declined by 12%.
Posted on December 17, 2022 by Dr. David Edward Marcinko MBA MEd CMP™
By Staff Reporters
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U.S. equities declined, posting a second-straight weekly loss, as recession worries have ratcheted higher in the wake of a host of global central bank actions earlier this week. The Fed’s mid-week 50 basis point rate increase was followed by similar actions from the European Central Bank, the Bank of England, and Swiss National Bank. The moves came amid an evident slowdown in global economic growth, with data released today showing most manufacturing and services PMIs domestically and across the globe continue to see a contraction in activity, adding fuel to the recessionary fears.
Treasury yields diverged, and the U.S. dollar was little changed, while crude oil prices fell, and gold traded to the upside. The equity front was relatively quiet, but Adobe’s quarterly results beat the Street on the top line, and the company reaffirmed its guidance, while shares of Darden Restaurants fell despite posting better-than-expected earnings and an upbeat outlook.
Asian stocks were mixed and European stocks saw widespread losses, as the global markets continued to digest the flood of monetary policy decisions around the world.
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