D.E. MARCINKO & Associates, Inc.

Posted on September 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

WHAT WE DO AND HOW WE ASSIST MEDICAL COLLEAGUES

Hard Business Advice AND Personal Lifestyle Coaching

http://www.MARCINKOASSOCIATES.com

By Ann Miller RN MHA CMP™

At D.E. Marcinko & Associates our clients traditionally include physicians [MD, MBBS and DO], dentists [DDS and DMD], podiatrists [DPM], Registered Nurses [RNs], Certified Registered Nurse Anesthetists [CRNA], Physician Assistants [PA] and Nurse Practitioners [NP]. A growing cohort of clients include medical technologists, physical, speech and occupational therapists, etc.

The above are naturally segregated into three career tranches: 1. New practitioners, 2] Mid-Career practitioners and 3] Mature practitioners. We serve them all and are fully prepared for any special needs situation that may arise in any tranche [death, divorce, adverse risk event and/or bankruptcy, etc].

D.E. Marcinko & Associates understands the complexity of financial and non-financial deal terms because we are also doctors. Our “hard” knowledge of your business comes from being actual healthcare facility owners, operators and medical practitioners [with additional professional licenses and expertise] enabling us to effectively analyze your business, take corrective measures and present your healthcare entity in the best possible and accurate light.

***

But, if you’re looking at this website, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance. Or, you are 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? This is known as “soft” psychology, coaching, personal consulting or fraternal advice.

***

Regardless, of your “soft” personal or “hard” corporate needs, our transparent Fees for Service [FFS] model is moderated for all colleagues based on the acuity and urgency of their engagements. Reduced rates and/or limited charity work may also be possible.

***

http://www.DavidEdwardMarcinko.com

CONTACT US TODAY – THRIVE TOMORROW!

Suite #5901 Wilbanks Drive

Norcross, Georgia USA 30092-1141

email: MarcinkoAdvisors@msn.com

***

***

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MEDICARE PART B: Dental Care

Posted on September 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Medicare enrollees could save $500+ per year in out-of-pocket spending if federal lawmakers expand parts of the program to include dental services, according to a report released last week.

The Urban Institute analysis—aided by funding from the Robert Wood Johnson Foundation—examined the implications of expanding Medicare Part B, which covers medically necessary and preventive services, to include dental care. The proposed coverage would be subject to Part B deductibles and 20% cost-sharing, and it could lower out-of-pocket expenses by 80%, or $530 per person annually, the report found.

Katherine Hempstead, a Robert Wood Johnson Foundation senior policy advisor, said the proposed expansion is “an opportunity to increase equity and close long-standing gaps in access to dental services.” Low-income older adults currently “bear the brunt” of Medicare’s lack of dental coverage, she added.

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U.S.A. DOJ versus GOOGLE LLC

Posted on September 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

One week into the 10-week trial in the U.S.A’s government’s high-stakes antitrust case against Google as the two sides have already staked out their positions.

The DOJ claims that Google spends billions per year to maintain its monopoly over search, paying to be the default on web browsers and mobile devices. Google, meanwhile, asserts that its dominant position comes from being better than all its competitors.

“If Google is prevented from competing, that won’t make Yahoo or DuckDuckGo run faster,” the company’s lawyer reportedly said in court.

DOJ: https://www.justice.gov/atr/case/us-and-plaintiff-states-v-google-llc

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EDUCATION: Micro-Schools for Students & Micro-Credentials for Adults

Posted on September 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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MICRO-SCHOOLS FOR STUDENTS

A new kind of school with fewer pupils is becoming increasingly popular. They’re called micro-schools, and they serve between five and 25 children following home-schooling curricula. There are at least 125,000 micro-schools in the US with ~1.5 million students, the head of the National MicroSchooling Center, Don Soifer, told EducationWeek.

Many parents turned to home schooling during the pandemic, and now there’s money flowing into these smaller learning environments.

  • As states adopt voucher systems for private schools, roughly a dozen of them allow that cash to be used for home schooling and, therefore, at micro-schools.
  • And venture capitalists have plowed tens of millions of dollars into companies that serve this market, per the Washington Post. That includes businesses like Prenda and KaiPod that help parents to set up their own micro-schools.

Micro-school advocates say that their size allows for more individualized, student-focused environments. But critics note that, although it varies by state, the may follow fewer standards than public and private schools, leading to the possibility of poorer education.

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MICRO-CREDENTIALS FOR ADULTS

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On the other hands, Stock-Brokers, Financial Advisors, Investment Advisors, Accountants, Consultants, Financial Analysts and Financial Planners need to enhance their knowledge skills to better serve the changing and challenging healthcare professional ecosystem. Doctors, dentists and allied healthcare professionals are in need, as well.

But, it can be difficult to learn and demonstrate mastery of these new skills to employers, clients, physicians or medical prospects. This makes professional advancement difficult.

That’s where Micro-Certification and Micro-Credentialing enters the online educational space. It is the process of earning a Micro-Certification, which is like a mini-degree or mini-credential, in a very specific topical area.

MORE: https://medicalexecutivepost.com/2023/09/01/micro-certifications-for-financial-advisors-seeking-physician-client-niche-success-6/

CERTIFIED MEDICAL PLANNER: https://medicalexecutivepost.com/wp-content/uploads/2011/11/enter-the-cmps.pdf

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AUGUST: Inflation is Up – Yet Again

Posted on September 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

It’s All About the [GAS] Pump!

By Staff Reporters

Inflation rose by an annual rate of 3.7% in August amid higher gasoline prices, marking the second consecutive month of rising costs. 

The Consumer Price Index, which tracks a basket of goods and services typically purchased by consumers, increased 0.6% from July, the Labor Department said Thursday. On an annual basis, the increase was higher than economists’ forecast of 3.6%, according to FactSet. 

Yet the so-called core CPI, which excludes volatile fuel and food costs, rose 4.3% from a year ago, matching the forecast from economists surveyed by FactSet.

By comparison, the core CPI had increased 7.3% in the past year, signaling that prices have cooled over that time.

Elderly CPI: https://medicalexecutivepost.com/2023/02/19/what-is-the-elderly-cpi/

MAY CPI: https://medicalexecutivepost.com/2023/06/14/cpi-report-may-round-up-2023/

Gas TAX: https://www.msn.com/en-us/money/markets/kemp-suspends-georgia-gas-tax-declares-state-of-emergency/ar-AA1gBR6i?ocid=U521DHP&pc=U521&cvid=e3a3f5f1dca44f8eb173cbee39340249&ei=57

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EDUCATION: Micro-Schools for Students & Micro-Credentials for Adults

Posted on September 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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***

MICRO-SCHOOLS FOR STUDENTS

A new kind of school with fewer pupils is becoming increasingly popular. They’re called micro-schools, and they serve between five and 25 children following home-schooling curricula. There are at least 125,000 micro-schools in the US with ~1.5 million students, the head of the National MicroSchooling Center, Don Soifer, told EducationWeek.

Many parents turned to home schooling during the pandemic, and now there’s money flowing into these smaller learning environments.

  • As states adopt voucher systems for private schools, roughly a dozen of them allow that cash to be used for home schooling and, therefore, at micro-schools.
  • And venture capitalists have plowed tens of millions of dollars into companies that serve this market, per the Washington Post. That includes businesses like Prenda and KaiPod that help parents to set up their own micro-schools.

Micro-school advocates say that their size allows for more individualized, student-focused environments. But critics note that, although it varies by state, the may follow fewer standards than public and private schools, leading to the possibility of poorer education.

***

MICRO-CREDENTIALS FOR ADULTS

***

On the other hands, Stock-Brokers, Financial Advisors, Investment Advisors, Accountants, Consultants, Financial Analysts and Financial Planners need to enhance their knowledge skills to better serve the changing and challenging healthcare professional ecosystem. Doctors, dentists and allied healthcare professionals are in need, as well.

But, it can be difficult to learn and demonstrate mastery of these new skills to employers, clients, physicians or medical prospects. This makes professional advancement difficult.

That’s where Micro-Certification and Micro-Credentialing enters the online educational space. It is the process of earning a Micro-Certification, which is like a mini-degree or mini-credential, in a very specific topical area.

MORE: https://medicalexecutivepost.com/2023/09/01/micro-certifications-for-financial-advisors-seeking-physician-client-niche-success-6/

CERTIFIED MEDICAL PLANNER: https://medicalexecutivepost.com/wp-content/uploads/2011/11/enter-the-cmps.pdf

***

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***

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September is National Prostate Health Month

Posted on September 11, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

What it is?

[By Staff Reporters]

National Prostate Health Month (NPHM) is observed every September in the United States by health experts, health advocates, and individuals concerned with men’s prostate health.

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PC
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Purpose

Designating a month for the issue serves the purpose of:

  • Increasing public awareness of the importance of prostate health
  • Providing easily accessible prostate health screenings
  • Educating about risk factors and symptoms of prostate related diseases and
  • Advocating for further research on prostate health issues.

ribbon

[A light blue ribbon is the symbol for prostate cancer]

 Assessment

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

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ChatGPT: Accuracy in Clinical Medical Decision Making?

Posted on September 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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By Dr. David Edward Marcinko MBA FACFAS CMP

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Putting ChatGPT to the test to see if AI can work through an entire clinical encounter with a patient – recommending a diagnostic workup, deciding a course of action and making a final diagnosis – Mass General Brigham researchers have found the large language model to have “impressive accuracy” despite limitations, including possible hallucinations. 

Colleague Bertalan Meskó, MD PhD, The Medical Futurist, sent me the following fascinating report.

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A recent study revealing ChatGPT’s high scoring in clinical decision accuracy has made waves. While the results are certainly promising, it’s crucial to keep in mind that these tests capture only a fraction of the myriad skills and knowledge required to treat patients – and we need to interpret the implications accordingly.

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NURSING HOMES: Federal Minimum Staffing Levels

Posted on September 5, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

A JOE BIDEN PROPOSAL

By Staff Reporters

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WASHINGTON (Reuters) – President Joe Biden’s administration just proposed setting federal minimum staffing levels for nursing homes, a move aimed at addressing longtime complaints about abuse and neglect in the industry that were highlighted during the COVID-19 pandemic.

MORE: https://medicalexecutivepost.com/2019/02/18/government-report-finds-92-percent-of-nursing-homes-employ-convicts/

Biden pledged last year to protect American seniors’ lives and life savings by cracking down on nursing homes that commit fraud or endanger patients’ safety and address the chronic under staffing at long-term care facilities that was exposed during the pandemic.

PODCAST: https://medicalexecutivepost.com/2021/07/24/podcast-nursing-home-care/

USBLS: https://www.bls.gov/iif/factsheets/workplace-violence-healthcare-2018.htm

The nursing home industry takes in nearly $100 billion a year from U.S. taxpayers, yet many under staff their facilities, the White House said. The new rule proposes that facilities have a registered nurse (RN) on site around the clock. It says each resident should receive 2.45 hours (two hours and 27 minutes) of care from a nurse aide every day, plus at least 33 minutes of care from an registered nurse every day.

CITE: https://www.r2library.com/Resource

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RUDE PATIENTS: To Laboring Physicians?

Posted on September 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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A spike in rude behavior emerged as one of the pandemic’s many societal consequences and has not receded alongside the public health crisis. The uptick in poor behavior is likely driven by increased stress and isolation from society, The Atlantic’s Olga Khazan reported in 2022. In many cases, these stressors mean people are easily set off when encountering innocuous requests, Keith Humphreys, PhD, a psychiatry professor at Stanford University, told The Atlantic. 

The trend has hit healthcare hard. Hospitals and health systems nationwide have reported an uptick in disrespectful, discriminatory, or violent behaviors from patients since the pandemic. Nearly 24 percent of physicians reported experiencing workplace mistreatment in 2020, including verbal mistreatment or abuse, according to a study published in JAMA Network Open. 

Source: Mackenzie Bean, Becker’s Hospital Review

MORE: https://medicalexecutivepost.com/2023/08/07/medical-workplace-violence-prevention-guidelines/

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MARCINKO & Associates, Inc.

Posted on September 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

WHAT WE DO AND HOW WE ASSIST MEDICAL COLLEAGUES

Hard Business Advice AND Personal Lifestyle Coaching

http://www.MARCINKOASSOCIATES.com

By Ann Miller RN MHA CMP™

At Marcinko & Associates our clients traditionally include physicians [MD, MBBS and DO], dentists [DDS and DMD], podiatrists [DPM], Registered Nurses [RNs], Certified Registered Nurse Anesthetists [CRNA], Physician Assistants [PA] and Nurse Practitioners [NP]. A growing cohort of clients include medical technologists, physical, speech and occupational therapists, etc.

The above are naturally segregated into three career tranches: 1. New practitioners, 2] Mid-Career practitioners and 3] Mature practitioners. We serve them all and are fully prepared for any special needs situation that may arise in any tranche [death, divorce, adverse risk event and/or bankruptcy, etc].

Marcinko & Associates understands the complexity of financial and non-financial deal terms because we are also doctors. Our “hard” knowledge of your business comes from being actual healthcare facility owners, operators and medical practitioners [with additional professional licenses and expertise] enabling us to effectively analyze your business, take corrective measures and present your healthcare entity in the best possible and accurate light.

***

But, if you’re looking at this website, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance. Or, you are 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? This is known as “soft” psychology, coaching, personal consulting or fraternal advice.

***

Regardless, of your “soft” personal or “hard” corporate needs, our transparent Fees for Service [FFS] model is moderated for all colleagues based on the acuity and urgency of their engagements. Reduced rates and/or limited charity work may also be possible.

***

http://www.DavidEdwardMarcinko.com

CONTACT US TODAY – THRIVE TOMORROW!

Suite #5901 Wilbanks Drive

Norcross, Georgia USA 30092-1141

email: MarcinkoAdvisors@msn.com

***

***

Filed under: "Advisors Only", "Ask-an-Advisor", "Doctors Only", Accounting, Career Development, Estate Planning, Ethics, Experts Invited, Financial Advisor Listings, Financial Planning, Health Economics, Health Law & Policy, Healthcare Finance, Interviews, Investing, LifeStyle, Managed Care, Marketing & Advertising, Media Mentions and PR, mental health, Op-Editorials, Practice Management, Practice Worth, Risk Management, Sponsors, Touring with Marcinko | Tagged: , , , , , , , , | Leave a comment »

CAREER: Physician Coaching and Development

Posted on September 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

MARCINKO ASSOCIATES, Inc.

SPONSOR: http://www.MarcinkoAssociates.com

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Did you Know?

Experts estimate that it can cost more than $1 million to recruit and train a replacement for a doctor who leaves the profession because of burnout. But, as no broad calculation of burnout costs exists, Dr. Tait Shanafelt [Mayo Clinic researcher and Stanford Medicine’s first Chief Physician Wellness Officer] said Stanford, Harvard Business School, Mayo Clinic and the American Medical Association (AMA) are further cost estimating the issue. Nevertheless, Shanafelt and other researchers have shown that burnout erodes job performance, increases medical errors, and leads doctors to leave a profession they once loved.

CITE: https://www.r2library.com/Resource

Fortunately, we can help. From formal coaching to second career opinions, mentoring and advising, we can help with our remediation executive career programs. Regardless of what is happening in your life, it is wonderful to have a non-partial, confidential and informed career coach and sounding board on your side.

CITE: JAMA Internal Medicine [Effect of a Professional Coaching Intervention on the Well-Being and Distress of Physicians].

NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6686971/

THANK YOU

CONTACT US: https://marcinkoassociates.com/process-what-we-do/

***

Filed under: "Advisors Only", "Doctors Only", Career Development, Ethics, iMBA, Inc., LifeStyle, Marketing & Advertising, mental health, Op-Editorials, Quality Initiatives, Sponsors, Touring with Marcinko | Tagged: , , , , , , , , , , , , | Leave a comment »

MARCINKO & Associates, Inc.

Posted on August 31, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

WHAT WE DO AND HOW WE ASSIST MEDICAL COLLEAGUES

Hard Business Advice AND Personal Lifestyle Coaching

http://www.MARCINKOASSOCIATES.com

By Ann Miller RN MHA CMP™

At Marcinko & Associates our clients traditionally include physicians [MD, MBBS and DO], dentists [DDS and DMD], podiatrists [DPM], Registered Nurses [RNs], Certified Registered Nurse Anesthetists [CRNA], Physician Assistants [PA] and Nurse Practitioners [NP]. A growing cohort of clients include medical technologists, physical, speech and occupational therapists, etc.

The above are naturally segregated into three career tranches: 1. New practitioners, 2] Mid-Career practitioners and 3] Mature practitioners. We serve them all and are fully prepared for any special needs situation that may arise in any tranche [death, divorce, adverse risk event and/or bankruptcy, etc].

Marcinko & Associates understands the complexity of financial and non-financial deal terms because we are also doctors. Our “hard” knowledge of your business comes from being actual healthcare facility owners, operators and medical practitioners [with additional professional licenses and expertise] enabling us to effectively analyze your business, take corrective measures and present your healthcare entity in the best possible and accurate light.

***

But, if you’re looking at this website, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance. Or, you are 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? This is known as “soft” psychology, coaching, personal consulting or fraternal advice.

***

Regardless, of your “soft” personal or “hard” corporate needs, our transparent Fees for Service [FFS] model is moderated for all colleagues based on the acuity and urgency of their engagements. Reduced rates and/or limited charity work may also be possible.

***

http://www.DavidEdwardMarcinko.com

CONTACT US TODAY – THRIVE TOMORROW!

Suite #5901 Wilbanks Drive

Norcross, Georgia USA 30092-1141

email: MarcinkoAdvisors@msn.com

***

***

Filed under: "Advisors Only", "Ask-an-Advisor", "Doctors Only", Accounting, Career Development, Estate Planning, Ethics, Experts Invited, Financial Advisor Listings, Financial Planning, Health Economics, Health Law & Policy, Healthcare Finance, Interviews, Investing, LifeStyle, Managed Care, Marketing & Advertising, Media Mentions and PR, mental health, Op-Editorials, Practice Management, Practice Worth, Risk Management, Sponsors, Touring with Marcinko | Tagged: , , , , , , , , | Leave a comment »

THE U.S. DOLLAR: It is Strong!

Posted on August 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The dollar’s still strong—and recent earnings reports have reflected that, for better or worse.

Around this time last year, earnings took a significant forex hit. Power players like Coca-Cola and Procter & Gamble said the strong dollar hurt profits, while others, like Microsoft, cited currency fluctuations in lowered forecasts.

Back then, the dollar was at a 20-year high. In recent months, the dollar has stayed relatively high as a string of economic data suggested interest rates will stay elevated—at least for now. And after Federal Reserve Chair Jerome Powell suggested the Fed might have to keep raising rates, the US dollar index climbed to its highest since June 1st.

In any case, foreign exchange rates are yet again cropping up as a talking point in recent earnings reports.

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Jobs and Inflation

Posted on August 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • Markets: Investors weren’t fazed by Jerome Powell’s warning in Jackson Hole that he could raise interest rates even more, sending the S&P 500 and NASDAQ to their first weekly gain in three weeks.
  • Bonds: But, all the chatter around higher rates has pushed US bond yields to decade-plus highs, which has typically been a drag on stocks.
  • Focus: Jerome Powell will again be poring over fresh inflation data (Thursday) and the August jobs report (Friday) to guide his next interest rate move. And we’re in stoppage time of earnings season, but a few companies, including Salesforce, Lululemon, and Dollar General, still have to report.

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HOUSING: Affordability Down

Posted on August 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Housing affordability Getting Worse

Surging bond yields are playing out in a bad way in the housing market, where the average mortgage rate in the US jumped to 7.09%, its highest level since 2002, per Freddie Mac. Combine those eye-watering borrowing costs with an inventory crunch that’s driven up prices, and you get the worst housing affordability conditions in four decades, Bloomberg reports.

Roughly 75% of US homeowners have mortgage rates of less than 4%, according to JPMorgan, so you can imagine why no one is eager to move and pay upward of 7% on a new place.

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PODCAST: What is Synchronous Direct-to-Consumer TeleHealth

Posted on August 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

D-2-C Real Time Virtual Entrepreneurial Care

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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Synchronous care is the most common form of real-time, virtual, direct-to-patient appointment.

Synchronous telehealth happens in live, real-time settings where the patient interacts with a provider, usually via phone or video. Providers and patients communicate directly, often resulting in a diagnosis, treatment plan, or prescription.

Synchronous telehealth can also include additional at home devices such as a blood pressure or heart rate monitor, thermometer, oximeter, camera, or scale to help the provider more accurately assess the patient’s health status.

CITE: https://www.r2library.com/Resource

Tip: For information on setting up a space for telehealth visits, watch Telehealth Best Practices  (video) from Hawaii’s State Department of Health and read the Telehealth Visit Etiquette Checklist  (PDF) from the American Medical Association.

Benefits for entrepreneurial health care providers

Providing easy access to patient-centered care offers obvious benefits for patients. Synchronous direct-to-consumer telehealth also has many advantages for health care providers.

  • Reduce patient no-shows: On-demand telehealth allows patients to take less time away from work or care for dependents like children. As a result, patients are more likely to keep scheduled virtual appointments.
  • Increase patient retention: The convenience of telehealth lets patients make appointments when needed — with shorter wait times. Telemedicine appointments are sometimes cheaper for the patient and offer more privacy. This approach increases patient satisfaction and retention, leading to more revenue for your practice.
  • Create new business opportunities: Offering appointment times before or after the traditional workday can meet patient needs and extend billable hours beyond the standard schedule. It is a chance to reach new patients, increase revenue, and expand care beyond your immediate neighborhood or city.
  • Deliver care from home: Providers can see patients from a private space inside or close to home. This allows providers to adjust their hours to better meet patient needs and reduces the amount of time spent commuting to an off-site health setting.

Tip: Before serving patients that live outside of state lines, make sure to research licensing requirements.

NOTE: More information on synchronous telehealth:

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DAILY UPDATE: Mortgages Rates and the Markets are Up!

Posted on August 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Home Mortgage rates just hit their highest mark since 2002, making home ownership even less attainable to potential buyers. Stagnation in the housing market could also put a squeeze on consumer spending, slowing broader economic growth. The average 30-year fixed-rate mortgage, a popular home loan, hit 7.09% last Thursday, up from 6.96% the week before, according to mortgage behemoth the Federal Home Loan Mortgage Corporation (Freddie Mac).

In a statement tied to the release, Freddie Mac noted that the rise of the 10-year Treasury yield and the strength of the economy both contributed to the high rate.

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Here is where the major benchmarks ended:

  • The S&P 500® Index rose 49 points (1.1%) to 4,436.02; the Dow Jones Industrial Average (DJIA) rose 184 points (0.54%) to 34,472.98; the NASDAQ Composite (COMP) rose 215 points (1.59%) to 13,721.03.
  • The 10-year Treasury note yield (TNX) fell 15 basis points to 4.180%.
  • CBOE’s Volatility Index (VIX) fell roughly 1 point to 16.03.

Communication services—which is home to tech-adjacent companies such as Google parent Alphabet (GOOG), Facebook parent Meta (META), and Netflix (NFLX)—and technology were the top-performing sectors Wednesday.

Energy was the laggard, as crude oil futures slipped more than 1% to below $79.

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NAHUC: Happy “Health Unit Coordinators” Day

Posted on August 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Dr. David Edward Marcinko MBA

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Today is Health Unit Coordinators Day, It is a day to celebrate the vital behind-the-scenes work these healthcare professionals do. Health unit coordinators act as a liaison between all the departments in a healthcare facility, helping to check in patients, maintain patient records, order supplies, and more.

Myrna LaFleur, who became the NAHUC founding president, invited several interested persons to meet with her in Phoenix, Arizona, on August 23, 1980, to discuss the formation of an association for health unit coordinators. This was the first meeting and resulted in selecting the name of the association. Each year thereafter, August 23 has been declared Health Unit Coordinator Day by many mayors and governors nationwide, who issue proclamations declaring August 23rd “Health Unit Coordinator Day”. Beginning in 2017, NAHUC expanded the recognition period to a full week: August 23-29th.

MORE: https://nahuc.org/

And so, to all you coordinators who keep our healthcare facilities afloat, we salute you.

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PODCASTS: Intentional Medical Practice Marketing

Posted on August 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Entrepreneurial MD

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PODCAST: https://www.theentrepreneurmd.com/11

MORE: https://medicalexecutivepost.com/2022/07/06/the-emerging-role-of-university-chief-strategy-officer/

RELATED: https://medicalexecutivepost.com/2022/10/28/crafting-a-medical-practice-marketing-plan/

ADVERTISING: https://medicalexecutivepost.com/2022/08/05/on-marketing-adverting-and-sales/

VIDEO: https://medicalexecutivepost.com/2022/09/29/podcast-investing-in-digital-health-sales-and-marketing/

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COVID VACCINE NEWS: The Companies

Posted on August 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks started the week on an upswing as technology companies rallied—including Nvidia, whose earnings report investors eagerly await tomorrow—helping the NASDAQ snap a four-day losing streak.

But, a new Covid variants are helping to push up the value of companies that make vaccines. Novavax, Moderna, BioNTech, and Pfizer rose yesterday as fall is likely to bring demand for boosters.

CITE: https://www.r2library.com/Resource

And, Atlanta-based Morris Brown College has announced that the school is reinstating its Covid mask mandate for the next two weeks as a result of positive cases at the Atlanta University Center.

The historically black college posted a note on its official Instagram account noting that the protocols would be in effect for the next 14 days. This includes a requirement for mask-wearing by students and employees, physical distancing, contact tracing, and other significant efforts to reduce the spread of Covid-19 among the population on the Atlanta campus. 

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“Deep Tech” Entrepreneurial Start-Ups

Posted on August 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Entrepreneurs

By Dr. Jeffery Funk

All 12 Ex-Unicorn Deep Tech startups are unprofitable and another 20 privately-held #Unicorns appear to be far from profitability.

These 32 include biotech/health (12), AI/Big Data (8), sensors/AVs (4), wearables (3), satellites/space (2), and one for 3D printing, storage, and fuel cells. Of ex-Unicorns, 10 have losses greater than 30% of revenues.

Why are these #deeptech #startups so unprofitable?

My conclusion is fewer #breakthrough #technologies are coming out than decades before and ones coming out are taking longer to successfully commercialize. #AI/#BigData, sensors/#AVs, wearables, satellites, 3D printing, and fuel cells have all been over-hyped, their costs and performance are still disappointing, and their diffusion continues to be slow.

Overall, a successful example of a breakthrough #technology is hard to find since iPhone was introduced in 2007, other than OLEDs and solar cells. Yes AI, #EVs, drones, VR, AR, and IoT are diffusing and thus an analysis in 10 years might come to different conclusions, but for 2010s, there was little to commercialize. #innovation #ipo #ipos #venturecapital #vcs #vc https://lnkd.in/gThUWFR

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UPDATE: https://www.seedtable.com/startups-deeptech

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Generative AI Disruption in the Healthcare Industry

Posted on August 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Health Capital Consultants, LLC

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Generative artificial intelligence (AI) is the utilization of algorithms to create content such as text, code, imagery, videos, and even simulations in mere seconds. The goal of AI generally is to mimic the intelligence of humans to perform tasks, with generative AI (a type of AI) aiming to learn from data without the assistance of humans. While today’s generative AI bots are not yet prepared for widespread utilization in patient care settings, AI is garnering significant interest in the healthcare industry as providers begin to test the capabilities of AI in clinics and offices.

This Health Capital Topics article will review the role that generative AI is beginning to play in the U.S. healthcare system, the potential of AI in healthcare, and concerns related to the technology. (Read more…)

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CAREER: Physician Coaching and Development

Posted on August 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

MARCINKO ASSOCIATES, Inc.

SPONSOR: http://www.MarcinkoAssociates.com

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Did you Know?

Experts estimate that it can cost more than $1 million to recruit and train a replacement for a doctor who leaves the profession because of burnout. But, as no broad calculation of burnout costs exists, Dr. Tait Shanafelt [Mayo Clinic researcher and Stanford Medicine’s first Chief Physician Wellness Officer] said Stanford, Harvard Business School, Mayo Clinic and the American Medical Association (AMA) are further cost estimating the issue. Nevertheless, Shanafelt and other researchers have shown that burnout erodes job performance, increases medical errors, and leads doctors to leave a profession they once loved.

CITE: https://www.r2library.com/Resource

Fortunately, we can help. From formal coaching to second career opinions, mentoring and advising, we can help with our remediation executive career programs. Regardless of what is happening in your life, it is wonderful to have a non-partial, confidential and informed career coach and sounding board on your side.

CITE: JAMA Internal Medicine [Effect of a Professional Coaching Intervention on the Well-Being and Distress of Physicians].

NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6686971/

THANK YOU

CONTACT US: https://marcinkoassociates.com/process-what-we-do/

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SDOH: What Exactly are They, Anyway?

Posted on August 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

http://www.MARCINKOASSOCIATES.com

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Social Determinants of Health

 According to Arjun Gosain, some SDOH concepts include:

  • Employment insecurity: Measures whether the patient is employed and their current employment or unemployment experience. This includes whether they were harassed on the job or experiencing unequal pay. Employment insecurity can lead to financial stress, mental health problems, and reduced healthcare access. 
  • Psychological circumstances: Measures current events that are affecting the patient’s health. This encompasses a wide range from unwanted pregnancies to exposure to war or violence. Stress, anxiety, and other negative emotions can have a direct effect on a patient’s physical health and contribute to disease development.
  • Housing insecurity: Notes whether a patient has a consistent place to live or is forced to move regularly. Homelessness or housing insecurity can lead to exposure to the elements, mental health challenges, and increased vulnerability to infection.
  • Social adversity: Examines a patient’s social experience including any discrimination or persecution the individual may be facing. Increased social adversity can cause an individual to socially isolate and develop feelings of depression. 
  • Transportation: Observes the patient’s access to transportation including available public transport. Missed appointments can be the direct result of transportation inaccessibility which leads to a decrease in the quality of care. 
  • Food insecurity: Indicates whether a patient has adequate food access and safe drinking water access. Receiving adequate nutrition is essential for maintaining optimal physical health. For example, if a child is food insecure, it can lead to serious developmental issues and chronic disease.
  • Education and literacy: Observes a patient’s ability to read and comprehend hospital paperwork. Note that individuals with higher literacy and education rates typically make more informed health decisions.
  • Occupational risk: Examines how a patient’s current employment affects their overall health. Determines if their job site places them at risk of toxin exposure, physical harm, undue stress, or other hazardous conditions that can contribute to injuries or illnesses.
  • Economic insecurity: Measures a patient’s poverty level to determine if copays, rent, and hospital bills are manageable. A patient living with inadequate finances will face a greater barrier to quality care. CITE: https://www.r2library.com/Resource/Title/082610254
  • Lack of support: Notes whether a patient has reliable support when experiencing difficult circumstances such as the death of a loved one. If a patient has a present support network, they will be able to receive practical, emotional, and physical assistance in times of need. 
  • Upbringing: Takes a patient’s childhood, family, and upbringing into account to assess if a patient is carrying trauma from previous years. Adverse childhood experiences can increase the risk of chronic diseases and mental health issues later in life. 
  • Language: Examines any language or communication concerns, so that a patient can both communicate their issues and understand oral and written treatment. Miscommunications can lead to misdiagnoses and inadequate treatment. 
  • Physician Stress: https://medicalexecutivepost.com/2022/05/20/sdoh-challenges-physician-stress/
SDOH = Social Determinants of Oral Health

What have we missed?

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BEHAVIORAL FINANCE: Cash is Still “King”

Posted on August 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

TREATING YOURSELF WITH CASH

By Staff Reporters

http://www.MarcinkoAssociates.com

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Folks are more likely to reach for dollar bills than credit cards when making a guilty pleasure purchase, according to new Stanford research.

MORE: https://medicalexecutivepost.com/2022/06/22/behavioral-finance-for-doctors/

In more than 118,000 real transactions at the university bookstore, buyers tended to slap their plastic on the counter for school supplies but pay with cash for “harder-to-justify” items like a stuffed plush mascot. And when asked how they’d pay for a hypothetical Reiki session, participants leaned toward credit card when the treatment was described as doctor-recommended but toward cash when they were told it was just an impulse purchase.

RELATED: https://medicalexecutivepost.com/2023/02/28/dr-richard-h-thaler-and-behavioral-economics/

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CAREER: Physician Coaching and Development

Posted on August 8, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

MARCINKO ASSOCIATES, Inc.

SPONSOR: http://www.MarcinkoAssociates.com

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Did you Know?

Experts estimate that it can cost more than $1 million to recruit and train a replacement for a doctor who leaves the profession because of burnout. But, as no broad calculation of burnout costs exists, Dr. Tait Shanafelt [Mayo Clinic researcher and Stanford Medicine’s first Chief Physician Wellness Officer] said Stanford, Harvard Business School, Mayo Clinic and the American Medical Association (AMA) are further cost estimating the issue. Nevertheless, Shanafelt and other researchers have shown that burnout erodes job performance, increases medical errors, and leads doctors to leave a profession they once loved.

CITE: https://www.r2library.com/Resource

Fortunately, we can help. From formal coaching to second career opinions, mentoring and advising, we can help with our remediation executive career programs. Regardless of what is happening in your life, it is wonderful to have a non-partial, confidential and informed career coach and sounding board on your side.

CITE: JAMA Internal Medicine [Effect of a Professional Coaching Intervention on the Well-Being and Distress of Physicians].

NCBI: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6686971/

THANK YOU

CONTACT US: https://marcinkoassociates.com/process-what-we-do/

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MSNBC Contributor Says Mask-Up After Uptick in COVID-19 Hospitalizations

Posted on August 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

FOX News: A doctor appearing on MSNBC Tuesday said that Americans should start wearing masks for COVID again. Former Obama official and current MSNBC medical contributor Dr. Kavita Patel was brought on Jose Diaz-Balart Reports to discuss an uptick in COVID hospitalizations.

“If you’ve noticed more of your friends, neighbors, loved ones are testing positive for COVID, you’re not alone. According to the CDC, COVID-19 hospitalizations are up 12 percent from last week and, while we’re nowhere near previous levels, it’s still raising concerns,” Diaz-Balart said.

The number of COVID-19 hospitalizations is rising this summer in the U.S., according to the Centers for Disease Control and Prevention (CDC). More than 7,100 patients with COVID were hospitalized in the week of July 15, up from 6,444 the prior week, the sharpest percentage increase since December 2022.

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GASOLINE: Prices Slowly Rising Again!

Posted on July 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The average price for a gallon of gasoline in the US just rose to an eight-month high of $3.71, as per AAA. While that’s far below last summer’s peak of $5.02 per gallon, gas prices have been creeping up due to refineries going offline unexpectedly and higher demand for oil at a time when supply isn’t there to meet it.

Bloomberg Opinion’s oil guru, Javier Blas, notes that global oil consumption has likely reached a record high.

LIFESTYLE: https://medicalexecutivepost.com/2022/09/28/my-jaguar-mechanic-vs-doctor-story/

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U.S. ECONOMY: “Soft Landing” Humming Along

Posted on July 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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US gross domestic product (GDP) increased at a more-than-expected 2.4% annualized rate last quarter thanks to healthy consumer spending and businesses shelling out on investments. The latest figures show that not only is the US economy not spiraling into a recession due to interest rate hikes, it’s actually getting stronger as the year goes on.

In fact, underlying inflation rose at its slowest pace in two years. This could be a sign of the “soft landing” that FOMC Chair Jerome Powell seeks.

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The European Central Bank also took it a cue from the FOMC and raised interest rates to a 23-year high. Investors think it could be the ECB’s last rate hike this cycle.

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But, according to CNN, Japan’s central bank kept interest rates unchanged today despite rising inflation but hinted that it could gradually abandon years of cheap money, sending the yen soaring and stocks tumbling. The Bank of Japan (BOJ) said it kept unchanged its short-term interest rate at minus 0.1% and maintained its target for the yield on 10-year government bond at around 0%.

But the central bank also said it would adopt a more flexible approach to controlling the yield on government bonds — which affects borrowing costs across the world’s third biggest economy,diluting a key pillar of its longstanding ultra-loose monetary policy.

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After a historic 13-day winning streak, the Dow—along with the other two major indexes—closed lower as its dizzying rise finally succumbed to gravity. There were some strong individual performances, however. Meta kept its impressive 2023 rolling after giving an optimistic earnings report.

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DAILY UPDATE: Dow and Fed Up but Markets Down

Posted on July 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Federal Reserve raised its benchmark interest rate another 0.25% on Wednesday, reviving its inflation fight despite a significant cooldown of price increases in recent months. The rate hike brought the Fed’s benchmark interest rate to a 22-year high of between 5.25% and 5.5%. Inflation has fallen significantly from a peak last summer, but remains at a level one percentage point higher than the Federal Reserve’s target of 2%.

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The Dow on Wednesday rose for a 13th straight day, matching its longest winning streak since 1987. If it closes higher today, it would be a streak not seen since 1897 — about a year after the benchmark was created — when the Dow advanced for 14 sessions in a row. During this latest run, the Dow has outperformed, gaining 5%. That momentum hasn’t been seen in the broader S&P 500 and NASDAQ Composite indexes, however. Both are up just 3% since the Dow’s streak began. The S&P 500 has fallen twice in that time, while the NASDAQ has posted three losing sessions

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Here is where the major benchmarks ended for the day:

  • The S&P 500 Index was down 0.02% at 4,566.75; the Dow Jones Industrial Average (DJIA) was up about 82 points (0.23%) at 35,520.12; the NASDAQ Composite was down 17 points (0.12%) at 14,127.28.
  • The 10-year Treasury note yield (TNX) edged down to 3.867%.
  • CBOE’s Volatility Index (VIX) dropped 5 points to at 13.32.

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MENTAL HEALTH: The Parity and Addiction Equity Act?

Posted on July 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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President Joe Biden’s administration just announced new rules meant to push insurance companies to increase their coverage of mental health treatments.

DR KENT: https://medicalexecutivepost.com/2023/05/26/dr-kent-may-is-mental-health-month-2/

The new regulations, which still need to go through a public comment period, would require insurers to study whether their customers have equal access to medical and mental health benefits and to take remedial action, if necessary.

MORE: https://medicalexecutivepost.com/2023/06/23/june-mens-mental-health-month/

The Mental Health Parity and Addiction Equity Act requires that insurers provide the same level of coverage for both mental and physical health care — though the administration and advocates argue insurers’ policies restrict patient access.

ACT: https://www.cms.gov/CCIIO/Programs-and-Initiatives/Other-Insurance-Protections/mhpaea_factsheet

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PHILLIP MORRIS: Healthcare Revenue Down

Posted on July 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Philip Morris International Inc. abandoned a goal to get at least $1 billion of revenue from healthcare and wellness products next year following setbacks at companies it has acquired in the sector.

The tobacco company has built a health and wellness unit around the purchases of UK inhaler maker Vectura Group Plc and Fertin Pharma, the producer of a smoking-cessation aid. PMI just took a $680 million impairment charge after unsuccessful clinical trials for an inhalable aspirin product as well as slower-than-expected development of other products.

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PMI paid more than $1 billion for Vectura and about $820 million for Fertin in 2021. Vectura scientists faced a backlash after the acquisition, with the company getting kicked out of a medical conference due to its link to the tobacco industry.

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PHYSICIAN LAYOFFS: Job Eliminations Across 66 Hospitals

Posted on July 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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A report published by Becker’s Hospital Review highlights a large number of job elimination efforts that have been announced or already implemented across 66 hospitals, including the following:

  • As an organizational redesign measure, Oklahoma University (OU) Health has eliminated around 100 positions.
  • 200 healthcare jobs were cut by Oklahoma City-based Integris Health to curb expenses.
  • ProMedica in Toledo, Ohio, announced plans to lay off 262 employees in March.
  • 337 employees of New York City-based Memorial Sloan Kettering Cancer Center are likely to be laid off shortly.
  • 112 employees of Pikeville Medical Center in Kentucky were laid-off at the end of 2022.
  • Desert Springs Hospital Medical Center in Las Vegas has already notified its workers that 970 jobs will be lost as it transitions to an emergency department.
  • California-based Kaweah Health in Visalia is likely to eliminate 94 positions.

These healthcare worker layoffs only reveal a part of the crisis because the complete closure of numerous hospitals is also on the horizon.

While the closure rate is faster for rural hospitals, urban hospitals are not safe either. In November 2022, Atlanta Medical Center (AMC) in Atlanta Georgia, announced its closure, leaving hundreds of workers jobless. This closure also had a severe adverse impact on the availability of trauma care in Atlanta. In 2019, the city council in Washington D.C. voted in favor of closing United Medical Center prior to COVID, leaving a healthcare gap during the pandemic.

CITE: https://www.r2library.com/Resource

NOTE: The current trend of hospital closures and healthcare job cuts not only affects the healthcare workers and their families but also poses serious questions about the quality of healthcare in the country. Last year, McKinsey & Company predicted that by the end of 2025, the US healthcare system may face a shortage of up to 450,000 registered nurses [RNs].

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INSTANT BANK PAYMENTS? The “FedNow” 24/7 Service

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.

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MICROSOFT: Takes Over Activision Blizzard

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.

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About the Richard Feynman Learning Technique

Posted on July 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

What it is – How it works?

[By Dr. David Edward Marcinko MBA M.Ed]

I’ve taught at the undergraduate, graduate, business and medical school levels. And, I’ve used and modified the Feynman technique at every level.

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Learning From the Richard Feynman Technique

  1. Identify the subject. Write down everything you know about the topic.
  2. Teach it to a child. If you can teach a concept to a child, you’re way ahead of the game.
  3. Identify your knowledge gaps. This is the point where the real learning happens.
  4. Organize + simplify + Tell a story. Start to tell your story.

VIDEO: https://collegeinfogeek.com/feynman-technique/

Assessment: Some time the Feynman Technique even reminds me of the 70-20-10 Leadership Model.

LINK: https://medicalexecutivepost.com/2018/05/18/what-is-the-70-20-10-leadership-model/

Conclusion: Your thoughts are appreciated.

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Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™8Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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