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    Dr. Marcinko is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; as well as Oglethorpe University and Emory University in Georgia, the Atlanta Hospital & Medical Center; Kellogg-Keller Graduate School of Business and Management in Chicago, and the Aachen City University Hospital, Koln-Germany. He became one of the most innovative global thought leaders in medical business entrepreneurship today by leveraging and adding value with strategies to grow revenues and EBITDA while reducing non-essential expenditures and improving dated operational in-efficiencies.

    Professor David Marcinko was a board certified surgical fellow, hospital medical staff President, public and population health advocate, and Chief Executive & Education Officer with more than 425 published papers; 5,150 op-ed pieces and over 135+ domestic / international presentations to his credit; including the top ten [10] biggest drug, DME and pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published academic text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].

    Dr. David E. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner® who was named “Health Economist of the Year” in 2010. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics trade journals and publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News] etc.

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    As a state licensed life, P&C and health insurance agent; and dual SEC registered investment advisor and representative, Marcinko was Founding Dean of the fiduciary and niche focused CERTIFIED MEDICAL PLANNER® chartered professional designation education program; as well as Chief Editor of the three print format HEALTH DICTIONARY SERIES® and online Wiki Project.

    Dr. David E. Marcinko’s professional memberships included: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA, FPA and HIMSS. He was a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.

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In this encore podcast, Somnath Basu PhD MBA examines how the recent economic turmoil has changed financial planning clients’ attitudes and expectations.

White Paper: AgeBander

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Basu Video Link: http://www.youtube.com/watch?v=jzAkB8h5v3Q

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PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICE: www.BusinessofMedicalPractice.com
ADVISORS: http://www.CertifiedMedicalPlanner.org

**

C.R.M In Medical Practice

PATIENT RELATIONS MARKETING MANAGEMENT IN MEDICAL PRACTICE
Courtesy: https://lnkd.in/eBf-4vY

Rocking C.R.M. Old School

Customer Relations Management [C.R.M] is an approach to managing a company’s interaction with current and potential customers. It uses data analysis about customers’ history to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.

LINK: https://lnkd.in/eWx3WjZ

But, what about “Patients” NOT “Customers” in a small to medium sized medical practice? Colleague Dee-Vee Devarakonda MBA, opines.

ESSAY: https://lnkd.in/gGtwqGA

Now, let’s get a bit more granular, as we go “old school” on P [patient] RM, right here:

WORKING WHITE-PAPER: https://lnkd.in/eGKt7cZ

Your thoughts and comments are appreciated.

***

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

Why Your Digital Medical Practice Marketing Campaign is Failing?

Why Your Medical Internet Marketing Campaign Isn’t as Effective as It Used to Be

Courtesy:

www,CertifiedMedicalPlanner.org

And How Much it Should Cost?

A strong online presence is crucial to running a successful business, and healthcare is no exception. However with constant change, many businesses are experiencing underperforming campaigns and struggling to figure out where to spend their marketing dollars.

For example:

  • Should you invest heavily in pay-per-click (PPC) advertising?
  • Focus your efforts on search engine optimization (SEO)?
  • Hit the ground running with social media?

Now, according to colleague John Deutsch, the answer is that you should never focus solely on one marketing channel, as it could take months or even years to recover when changes in the marketing industry occur – and they inevitably will occur.

ESSAY: https://medicalexecutivepost.com/2014/11/24/why-your-medical-internet-marketing-campaign-isnt-as-effective-as-it-used-to-be/

And, how much should it cost?

ESSAY:: https://medicalexecutivepost.com/2011/09/23/how-much-money-should-a-medical-practice-spend-on-a-marketing-campaign/

Your thoughts are appreciated.

BUSINESS, FINANCE, INVESTING & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

***

The “Net Promoter Score”

What it is – How it works

[By staff reporters]

According to Wikipedia, the Net Promoter Score (NPS) is a management tool that can be used to gauge the loyalty of a firm’s customer relationships. It serves as an alternative to traditional customer satisfaction research and is claimed to be correlated with revenue growth. NPS has been widely adopted with more than two thirds of Fortune 1000 companies using the metric. The tool aims to measure the loyalty that exists between a provider and a consumer. The provider can be a company, employer or any other entity. The provider is the entity that is asking the questions on the NPS survey.

The consumer is the customer, employee, or respondent to an NPS survey. An NPS can be as low as −100 (every respondent is a “detractor”) or as high as +100 (every respondent is a “promoter”). NPS scores vary across different industries, but a positive NPS (i.e., one that is higher than zero) is generally deemed good, a NPS of +50 is generally deemed excellent, and anything over +70 is exceptional.

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NPS.png

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The metric was developed by (and is a registered trademark of) Fred Reichheld, Bain & Company and Satmetrix. It was introduced by Reichheld in his 2003 Harvard Business Review article “One Number You Need to Grow”.

Credibility?

But, how accurate is the NPS?

MORE: https://labs.openviewpartners.com/big-problems-with-net-promoter-score/#.XN1nFYdYYqQ

Assessment

Your thoughts are appreciated.

***

Product DetailsProduct Details

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The Anthem Meme in Atlanta – Oh No!

Blue Cross / Blue Shied of Georgia

By Anonymous

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The Back Story

Most ME-P readers may know that Blue Cross Shield of Georgia has been spending millions of dollars for a new rebranding initiative to Anthem? It has been all over the local news, TV, internet, with phone cold calls, etc.

The Photog

Well, a single Metropolitan Atlanta Rapid Transit Authority [MARTA] subway rider apparently snapped the attached photo at the Mid-Town Atlanta, station; posted it on the internet, as it promptly went viral and virtually destroying the entire multi-channel marketing campaign.

So, is Anthem now the local, and GA statewide, marketing faux paus laughing stock?

Assessment

Wasn’t it Peter Drucker who said that: “culture eats strategy for lunch.”

Just thought you might enjoy the visual meme. Feel free to comment.
***
Product DetailsProduct Details
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Invite Dr. Marcinko

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Crafting a Medical Practice Strategic Marketing Plan

Necessary Today – Not So In the Past

dem

[By Dr. David Edward Marcinko; MBA, CMP™]

Invite Dr. Marcinko

Marketing plays a vital role in successful practice ventures. How well you market your practice, along with a few other considerations, will ultimately determine your degree of success or failure. 

The key element of a successful marketing plan is to know your patients – their likes, dislikes and expectations. By identifying these factors, you can develop a strategy that will allow you to arouse and fulfill their wants and needs. 

The Beginning

Identify your patients by their age, sex, income/educational level and residence. At first, target only those patients who are more likely to want or need your medical services. As your patient base expands, you may need to consider modifying the marketing plan to include other patient types or medical services. 

Your marketing plan should be included in your medical business plan and contain answers to the questions asked below:

·Who are your patients; define your target market(s)?

·Are your markets growing; steady; or declining?

·How is the practice unique?

·What is its market position?

·Where will we implement the marketing strategy?

·How much revenue, expense and profit will the practice achieve?

·Are your markets large enough to expand?

·How will you attract, hold, increase your market share?

·If a franchise, how is your market segmented?

·How will you promote your practice and services?

Practice Competition

Competition is a way of life. We compete for jobs, promotions, scholarships to institutions of higher learning, medical school, residency and fellowship programs, and in almost every aspect of our lives. 

When considering these and other factors, we can conclude that medical practice is a highly competitive, volatile arena. Because of this volatility and competitiveness, it is important to know your medical competitors. Questions like these can help you determine:

·Who are your five nearest direct physician competitors?

·Who are your indirect physician competitors?

·How are their practices: steady; increasing; or decreasing?

·What have you learned from their operations or advertising?

·What are their strengths and weaknesses?

·How do their services differ from yours?

***

Chief-Marketing-Officer

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Patient Targeting

Patient targeting generally describes the strategic competitive advantage and/or professional synergy that is specific and unique to the practice. Intuitively, it answers such questions as:

·Who is the target market?

·How is the practice unique?

·What is its market position?

·Where will we implement the marketing strategy?

· How much revenue, expense and profit will the practice achieve?  

The science of modern marketing however, is based on intense competition largely derived from the interplay of five forces, codified in the early 1980s, by Professor Michael F. Porter of Harvard Business School. They are placed in this section of the business plan and include the following:

Power of suppliers: The bargaining power of physicians has weakened markedly in the last managed care decade.  Reasons include demographics, technology, over/under supply and a lack of business acumen. 

Power of buyers: Corporate buyers of employee healthcare are demanding increased quality and decreased premium costs within the entire healthcare industry. The extents to which these conduits succeed in their bargaining efforts depend on several factors:

·Switching Costs: Notable emotional switching costs include the turmoil caused by uprooting a trusted medical provider relationship.

·Integration Level: The practitioner must decide early on whether or not he will horizontally integrate as a solo practitioner, or vertically integrate into a bigger medical healthcare complex.

·Product Importance: Increasingly, HMOs do not often strive to delight their clients and may be responsible for the beginning backlash these entities are starting to experience. Additionally, some medical specialties have more perceived value than others (i.e., neurosurgery v. dermatology)

· Concentration:  Insurance companies, not patients, represent buyers that can account for a large portion of practice revenue, thereby bringing about certain concessions.  A danger sign is noted when any particular entity encompasses more than 15-25% of a practice’s revenues.

Threat of new entrants: Some authorities argue that medical schools produce more graduates than needed, inducing a supply side shock. Others suggest that there too many patients? Regardless, this often can be mitigated by practicing in rural or remote locations, away from managed care entities, or in areas with under-served populations.

Current or existing competition: Heightened inter-professional competition has increased the intensity and volume of certain medical services and referrals may be correspondingly with-held.  Rivalry occurs because a competitor acts to improve his standing within the marketplace or to protect its position by reacting to moves made by other specialists.

Substitutions: Examples include: PAs for DOs, nurse practitioners for MDs, technicians for physical therapists, hygienists for dentists, cast technicians for orthopedists, nurse midwives for obstetricians, foot care extenders for podiatrists and even, hospital sanitation workers for medical and surgical care technicians.  Any strategy to ameliorate these conditions will augment the successful business practice plan. 

MORE: Healthcare Market.Tensions 2,0 MARCINKO

MORE: Strategic Management Improvement

Enter the Chief Marketing Officer [CMO]

A Chief Marketing Officer or marketing director is a corporate executive responsible for marketing activities in an organization.  The CMO leads brand management, marketing communications, market research, product management, distribution channel management, pricing, often times sales, and customer service, etc.

***

DEM at Drexel

Invite Dr. Marcinko

Academic Metaphor?

Now, with all the competition today at the college and university level; notwithstanding the recent Hollywood Elite University acceptance debacle, can you see how these basic ideas might also be helpful in the academic and educational strategic marketing ecosystem?



The Emerging Role of University CHIEF STRATEGY OFFICER

***

 The changing role of a college / university Chief Marketing Office [narrow focus] –versus–  Chief Strategy Officer [broader entity focus].

Assessment

A good way to accomplish and codify the above marketing plan concept is through a SWOT analysis. Mention the Strengths, Weaknesses, Opportunities and Threats of your specialty specific practice and what you plan do to maximize the positive, and minimize the negative aspects of the analysis.

Conclusion

Only after the above forces have been considered, should you begin the process that many physicians mistake for crafting their marketing efforts; executing the actual marketing plan. 

If you are not going to the right audience, making the correct statements or delivering your message through the proper advertising channels, you might as well put your medical practice marketing plan into the trash can because it will not secure you funds, or benefit your practice. 

Do you have a marketing plan, and more importantly, how well do you execute it? 

More info: http://www.springerpub.com/prod.aspx?prod_id=23759

Speaker: If you need a moderator or a speaker for an upcoming event, Dr. David Edward Marcinko; MBA is available for speaking engagements. Contact him at: MarcinkoAdvisors@msn.com

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Product DetailsProduct Details

***

About “Posts” – On the Medical Executive-Post

Laughing Out Loud

[By staff reporters]

***

****

Conclusion

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

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

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

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

THANK YOU

 

Dr. Marcinko at YOUR Service in 2019

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Book Marcinko for your next Seminar, Meeting or Medical Business Event 

By Ann Miller RN MHA

Professor and physician executive David Edward Marcinko MBBS DPM MBA MEd BSc CMP® is originally from Loyola University MD, Temple University in Philadelphia and the Milton S. Hershey Medical Center in PA; Oglethorpe University, and Atlanta Hospital & Medical Center in GA; and the Aachen City University Hospital, Koln-Germany. He is one of the most innovative global thought leaders in health care business and entrepreneurship today.

Dr. Marcinko is a multi-degreed educator, board certified physician, surgical fellow, hospital medical staff President, Chief Education Officer and philanthropist with more than 400 published papers; 5,150 op-ed pieces and over 125+ international presentations to his credit; including the top 10 biggest pharmaceutical companies and financial services firms in the nation. He is also a best-selling Amazon author with 30 published text books in four languages [National Institute of Health, Library of Congress and Library of Medicine].

Dr. Marcinko is past Editor-in-Chief of the prestigious “Journal of Health Care Finance”, and a former Certified Financial Planner®, who was named “Health Economist of the Year” in 2001. He is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, management and trade publications [AMA, ADA, APMA, AAOS, Physicians Practice, Investment Advisor, Physician’s Money Digest and MD News].

As a licensed insurance agent, RIA and SEC registered endowment fund manager, Dr. Marcinko is Founding Dean of the fiduciary focused CERTIFIED MEDICAL PLANNER® chartered designation education program; as well as Chief Editor of the HEALTH DICTIONARY SERIES® Wiki Project. His professional memberships include: ASHE, AHIMA, ACHE, ACME, ACPE, MGMA, FMMA and HIMSS.

Dr. Marcinko is a MSFT Beta tester, Google Scholar, “H” Index favorite and one of LinkedIn’s “Top Cited Voices”.

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David Edward Marcinko (2)

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Understanding the ME-P Knowledge Based Ranking Service

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About Our Professional User-Generated Ratings Interface

From the Contributing Editors

How We Work

The Medical Executive-Post is a professional ranking and educational rating system for the integrated industries, readers and contributors we serve.

We function as an open social utility that allows readers and users to submit and collectively evaluate the quality of blog posts, opinions and essays on any of more than 50 specific topics and related subject matters of collective interest.

Understanding Knowledge Based Ranking Services

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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Hospitals: http://www.crcpress.com/product/isbn/9781439879900

Physician Advisors: www.CertifiedMedicalPlanner.org

Product DetailsProduct DetailsProduct Details

Product Details  Product Details

Product Details

Product Details 

On Health Plan Communication Preferences

According to Age

By http://www.MCOL.com

***

Conclusion

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

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

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

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

***

WEGO Health Nominates the ME-P as “Best- in-Show” Blog

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WEGO Nomination 2017

By the WEGO Health Team

Dear Dr. David Edward Marcinko MBA,

Congratulations on your nominations for a WEGO health activist award.

We wanted to let you know that you’ve been nominated for the WEGO health activist award –

This nomination will appear on your nominee profile – feel free to update your personal bio if needed and share this new achievement with your family, friends, patients, students and clients community.

******

Assessment

And, your ME-P readers, visitors and subscribers can view your entire profile; here.

Congratulations!

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Business Plan for Creatives … and Doctors!

CMP logo

A Detailed Plan for Medical Professionals

By Dr. David Edward Marcinko MBA CMP

http://www.CertifiedMedicalPlanner.org

***

***

MBA Business Plan CAPSTONE Outline

PODCAST Transcript: Podcast

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

[PRIVATE MEDICAL PRACTICE BUSINESS MANAGEMENT TEXTBOOK – 3rd.  Edition]

Product DetailsProduct Details

  [Foreword Dr. Hashem MD PhD] *** [Foreword Dr. Silva MD MBA]

***

First [Medical] Impressions Matter

Driving Consumer Engagement

http://www.MCOL.com

***

***

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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***

How financial advisers can get unstuck in 2017?

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By Michael Gerber [Re-Post]

How financial advisers can get unstuck in the New Year

Most financial advisers started their firm because they had a dream for a different life and a vision of how to get there. Rather than taking their dream to the next level, too many advisers are stuck.

Michael Gerber discusses this trap in his book “The E-Myth.” What he describes translates perfectly into what happens when the adviser takes off their business-owner hat and stops working on their practice (Investment News).

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networking advisors

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Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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™

***

Is this Really: A [Healthcare] Social Media Impact Factor?

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In Medicine?

@nicholas_bagley

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social-media-impact

via Tom Gauld:@afrakt

 Social media impact factor

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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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VOTE ME-P: Health Activist Award Nominations from WEGO

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Give Back to Those Who Inspire You

Who are some of the outstanding Health Activists who enrich the lives of others by sharing their experience, knowledge and strength?

David and Hope

[Medical Executive-Post]

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

Nominate US for a WEGO Health Activist Award

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Medicine: A Lesson In Efficient Markets

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MEDICINE: A Lesson In Efficient Markets

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[By Dan Ariely PhD] http://danariely.com

The market for medicine is incredibly interesting. Almost every day we learn something new about a treatment that we thought would work but does not, or about a treatment that we didn’t think would work but does.

Beyond the particular fascination, I think that the medicine market can also teach us important lessons about rationality … read more:

Medicine: A Lesson In Efficient Markets

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Conclusion

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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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[PRIVATE MEDICAL PRACTICE BUSINESS MANAGEMENT TEXTBOOK – 3rd.  Edition]

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  [Foreword Dr. Hashem MD PhD] *** [Foreword Dr. Silva MD MBA]

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About “Comments” on the Medical Executive-Post

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One of Just Many Ways to Interact with Us

By Ann Miller RN MHA

[Executive-Director]

If you are not reading our subscriber “comments”, you are not getting all you can from each Medical Executive-Post. And, if you are not reading the links in each post, you are not getting all you can from the ME-P.

Industry Specificity

Then, purchase our textbooks, white-papers, handbooks, dictionaries and CDs for deeper integrated and peer-reviewed industry specificity.

Consulting Too!

And, we are now scheduling private consultations, events and corporate engagements, too. Online and on-ground seminars and private appointments are also available! But for now, read and learn from the comments  tab. It’s fast, free and secure!

Conclusion

So, there are several ways to interact with the ME-P, and more are scheduled in the future.

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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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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Blogging for Medical Practice Promotion?

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Strategic Questions for Doctors to Consider

[By staff reporters]

There’s all sorts of advice on why and how to blog in order to promote a medical practice. Yet, most doctors STILL haven’t scratched the surface to understand what blogging is actually about and what roles it may play in their overall Business Plan and strategic presence – on and offline.

But, all practices have different concerns and goals, and every media, communications and marketing strategy is different from the other.

Today, “blogging” just doesn’t mean the publishing of content on a website. It’s more about being proficient in various media: from traditional to emerging; a new set of skills every doctor or physician executive needs to acquire and hone. Blogging is a constant learning process. It’s also a way to reveal strengths and weaknesses inherent in any healthcare organizations, culture and processes.

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Blog

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The Expert Speaks?

According to Phil Baumann RN, of Phil.Baumann.com, the following are helpful to consider when planning a blogging campaign to promote your medical practice:

  1. What’s the purpose? Practice development? Patient availability? A place to house your medical expertise and knowledge? A place to create a [professional or patient] community where ideas and questions can be explored openly? What value do you expect to provide or extract?
  2. Who is your audience(s)? Are you thinking that your only audience would be patients? Or, perhaps your colleagues, other healthcare industry influencers, vendors or the public? Will you be able to track the social footprint of your audience – who they are and where else on the Web they interact?
  3. What kinds of content are you delivering? Is it informational? Editorial? Inspirational? Industrially insightful? Action-calling? How might the kind(s) of content and information you publish influence your audience? Are you willing to let your audience help determine your content?
  4. What kinds of media will you provide on the blog? Text? Video? Audio? Slidedecks? Different media have different properties. Have you thought about the properties of traditional media and how they differ from emerging media? How much of your traditional practice marketing expertise evolved around the properties of print, radio, traditional websites and TV? Given that new media possess different properties, how might your marketing and promotional strategies need to adapt?
  5. Do you know what kinds of assets a blog can build? Appointment leads? A small but relevant community of patients or influencers? Professional or street credibility? Search engine optimization [SEO] and ranking? Which do you need?
  6. How will you distribute your content? Have you developed other web real estate – outposts on Facebook, Twitter, Youtube, Slideshare; or will you use strictly medical networks, healthcare related platforms or build your own? Which ones make the most sense to invest in? Can you build a visual map of your entire Web presence and how different Web and traditional presences relate to the bigger picture?
  7. If you successfully build your community, do you know how to leverage it? Will you be satisfied to just have visitors? Or, will you engage with your community – not only on your blog but elsewhere? Will you continually monitor your efforts and make the best of the connections you make? Will you develop a system to reach your community beyond your blog – either via email or other media outreach?
  8. Do you think blogging is just putting content on a website – or do you believe it is a spectrum of media skills? What’s your conception of medical practice blogging? Might there be more to blogging than what you think you know? What skills may you need to develop or build upon
  9. Do you have a plan on how to distribute your blog content to traditional media (where else is your audience)? What are your overall communications and marketing strategies? How might emerging media not only play a part, but how might their proliferation impact your established practice strategies?
  10. How committed will you be? Is this going to be a chore “to be done” or will you intelligently integrate it into your promotional routine? Do you understand the skills and resources needed to become proficient? When thinking about resources, are you considering time and talent and networks? Or, will you outsource, and can you afford it?
  11. Do you have the stamina to sustain your efforts in the long-term? Investing in new media is about sustaining long-term capital. Given your resources, will you create the kind of working environment for your employees to enjoy the art of creating content, conversing across different networks and advancing the practice’s objectives?
  12. Do you know how to make it easy (and enticing) for your audience to comment? Will you thank and comment back? Is sharing via email and other sources easy?
  13. Are you willing to fail? More importantly: how do you define failure? This is important to know because if you define failure appropriately, then you’re more likely to know what to do when you encounter it: in fact, you may see it as a huge opportunity.

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Assessment

Take your time answering these questions because they aren’t just about blogging: they’re about your understanding promotional media and your medical practice. What other questions do you think you need to ask yourself?

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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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Seeking Authors by “Crowd-Sourcing” our Proposed Medical Marketing TextBook

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MEDICAL PRACTICE MARKETING MANAGEMENT, ADVERTISING, SALES, COMMUNICATION AND SOCIAL MEDIA SKILLS

[New-Wave Success Strategies for Savvy Doctors]

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[By Dr. David Edward Marcinko MBA CMP]

[By Prof Hope Rachel Hetico RN MHA CMP]

dave-and-hope10

Dear ME-P Readers and Subscribers,

No – We’ve not been in blog-silence mode lately.

Instead, we’ve been hard at work on our soon-to-be-released and major new 800 page print text book:

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

A Recent Project

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctor and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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And now, we are just working on our newest book proposal: MEDICAL PRACTICE MARKETING MANAGEMENT, ADVERTISING, SALES, COMMUNICATION AND SOCIAL MEDIA SKILLS – [New-Wave Success Strategies for Savvy Doctors]. © IMBA, Inc. All rights reserved.

Format and Style

This is the most journalistic styled book we’ve ever attempted. We’ve already completed about 10 chapters that need updating. They are all fascinating. So, it seems a shame to leave so much great stuff on the cutting room floor. Therefore, we are seeking about 12-15 additional de-novo chapters from you, our esteemed ME-P readers and subscribers.

Crowd-Sourcing the Book

Therefore, for the next few months we will be soliciting author-experts and contributions via this on-line Crowd Sourcing campaign to either update existing chapters; or submit totally new chapters, success stories and essays.

Of course, the existing chapters are more traditional in nature; while de-novo contributions will be more new-wave, innovative and grounding-breaking in their thought leadership marketing ideas.

We are Hoping you Can Help Us

If you have deep knowledge, experience or education in medical marketing; or an amazing story about how new sales, PR or modern channels of advertising distribution [electronic age] are transforming and changing your medical practice, clinic or hospital for the better; please do let us know. Either by posting a comment or emailing Ann, directly.

Tenor and Tone

These kinds of chapters can help bring a subject to life. To give you a sense of the range of topics we’ll be covering, as well as the book’s tone, we’ve pasted below a tentative draft of the Table of Contents. If all goes well, the print hardcover textbook it will be published in about a year.

Table of Contents: © IMBA, Inc. All rights reserved.

TOC(1)

Format Specs and Style Sheet: © IMBA, Inc. All rights reserved.

Author SPECS(1)

Recent ME-P Works: © IMBA, Inc. All rights reserved.

ME-P Text Books

Our Deep Healthcare Niche Notoriety

And, our books have used by professional organizations like the Medical Group Management Association (MGMA), American College of Medical Practice Executives (ACMPE), American College of Physician Executives (ACPE), American College of Emergency Room Physicians (ACEP), Health Care Management Associates (HMA), and PhysiciansPractice.com;

and by academic institutions like the UCLA School of Medicine, Northern University College of Business, Creighton University, Medical College of Wisconsin, University of North Texas Health Science Center, Washington University School of Medicine, Emory University School of Medicine, and the Goizueta School of Business at Emory University, University of Pennsylvania Medical and Dental Libraries, Southern Illinois College of Medicine, University at Buffalo Health Sciences Library, University of Michigan Dental Library, and the University of Medicine and Dentistry of New Jersey, among many others.

All are archived in the Library of Congress, Institute of Health and Library of Medicine.

More on the ME-P Publishing Service

Assessment

Regardless of your decision to contribute, we remain apostles promoting our mutual core interests whenever possible.  And, we are all doing our best to make it a fascinating and important book, and appreciate your help.

If interested in contributing, updating or as a peer reviewer; please contact Ann:

Ann Miller RN MHA [Project Manager]

Institute of Medical Business Advisors, Inc.

MarcinkoAdvisors@msn.com

Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

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

Risk Management, Liability Insurance, and Asset Protection Strategies for Doctor and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

12 Email Marketing Tips for MDs and FAs

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To Ensure Your Campaign Isn’t a Waste of Time and Money

B

The success of your email marketing campaign will depend on a number of things, from how you grow your list, the times and days you send them, to the type of content you send.

To ensure your email marketing campaigns aren’t a waste of time and money make sure you read the tips in this infographic from Vertical Response.

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eMail tips

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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“Reflective Listening” Advice for Physician-Focused Financial Advisors

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More than Active Listening and Consultative Sales 

By Rick Kahler MS CFP® http://www.KahlerFinancial.com

Rick Kahler CFPHere’s a useful bit of advice I got from one of my staff members several years ago:

“Rick, your clients don’t understand half as much about investing as you think they do.”

She didn’t intend any disrespect to doctors, nurses or other clients. Instead, she was reminding me not to assume everyone swims in the same waters I do. For me, those waters are investing and finance. Financial planning not only is my work, it’s my passion.

Client Meetings

So in a client meeting, I can easily dive into the details of a mutual fund advisor’s performance or some other aspect of the client’s investments. If clients don’t ask questions, I might assume they understand what I’m saying, when in reality they may be just waiting for me to move on to something more meaningful to them.

If clients don’t understand what financial advisors are saying, why don’t they ask? In my experience, one of the reasons is embarrassment. Clients may not ask for clarification because they think they should already know. I might well have the same feeling with an auto mechanic or plumber.

If you think you should know the meaning of terms like asset allocation or capitalization, you probably will hesitate to ask an advisor to explain those terms. Since financial planners, like other professionals, can easily forget that not everyone understands the vocabulary that is so familiar to them, they won’t necessarily think to offer explanations unless you ask.

Reflections and Mirrors

One useful strategy to help ensure that you and a financial advisor understand various terms in the same way is to reflect back what you think you’ve heard the advisor say or what you think a statement means.

Suppose, for example, a financial planner suggests that you consider some asset protection strategies. The word “assets” to you means primarily the money in your investment portfolio, and of course you know what “protection” means. To you, then, “asset protection” might mean “keeping my investment safer.”

In-Active Listening

[In-Active Listening]

To clarify, you might respond to the advisor this way:  “What I hear you saying is that I should change some of my investments to funds that have less risk. Is that right?”

This would let the planner know that what you think she said is not what she meant. She could then explain that by “asset protection,” she meant protecting yourself against frivolous lawsuits. For example, she might recommend forming a limited liability company to own a piece of rental property instead of having it directly in your own name.

It may seem simpler just to ask, “What do you mean by asset protection?” The drawback of this directness is that her answer might use additional terms you don’t understand, so it still might not be clear. After two or three such questions, you might be too embarrassed or confused to ask further.

Clarification

Reflecting back what you think you heard, however, helps the other person know more precisely what you understand or don’t understand. It can be an efficient method of clarifying a potentially confusing topic. It’s an effective way to make sure that both you and your advisor are talking about the same thing or trying to solve the same problem.

Assessment

Remember that helping you learn more about your finances is part of a financial planner’s responsibility. Letting the planner know when you don’t understand something is part of your responsibility as the client. Please, don’t just sit with your eyes glazed over and nod politely if your financial planner dives into depths where you can’t follow. Instead, remind him or her that in those waters, you need a life jacket.

IOW: Reflective Listening is more than just the active listening skills and consultative sales approaches of the past – it is true understanding.

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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Are [Medical] Trade Fairs Good Entertainment?

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They Ought to Be . . .

By Vanessa

http://thedisplayoutlet.com

Just because medical trade fairs and other exhibitions are designed to help hospitals, medical practices and businesses grow, or show case their products and services and increase their gain in the market place – it doesn’t all have to be work – some trade shows and exhibitions are boring! The best trade fairs are the ones which successfully inject a little fun into the proceedings and the most successful trade booths are the ones which engage the visitors in that fun.

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The first thing that a visitor to a trade show sees is the booths, rows and rows of booths – large booths, smaller booths, brightly colored booths, brightly lit booths . . . booths, booths and more booths. The second thing that a visitor to a trade show sees is the people, the staff, the personnel in your booth. The booth and your sales staff reflect your company, your products, your professionalism and your services. Make sure that your booth and the staff give the right sort of impression. Friendly, welcoming and knowledge staff is important – ideally dressed to co-ordinate in with the theme of your trade show booth. This doesn’t have to include an entire uniform; just a blouse or shirt with the company emblem or logo in corresponding colors will do fine.

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Your staff needs to be welcoming and friendly; it helps to have a pot of coffee on the go and maybe even some nice smelling cookies. People need to feel comfortable enough to approach your booth and if you have some fun, interactive activity on there it will surely attract their attention. Nothing attracts the attention of a passer by more than people having fun, trying to do something, hold something or win something. The addition of items like “prize wheels” can really help to add this type of dimension to your trade show booth. A spinning prize wheel with the chance to win something exciting is a gem of an attraction in a sea of otherwise boring trade booths. If your display is tall, well lit and gets the message across then you have a very good chance of a successful trade show.

If your medical clinic, practice business is rather small and you cannot really afford a very large pitch then try to take a smaller booth next to a large, popular stand. This works best if the neighboring company is not in direct competition with you, rather just a complimentary type of business. That way, as they are busy attracting the visitors to their stand you can be on the sidelines catching them as they move away . . . that fabulous fresh coffee aroma could do wonders for your popularity.

Another good location for a pitch is close to the refreshment bar – any place which attracts the majority of the visitors is a good option. Some trade shows and exhibitions hire entertainers to keep the visitors happy and the mood light and playful (which is incidentally very productive). If you do know that there will be a magician or other types of entertainer around then try to get as close to his stand as possible.

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The Display Outlet has a great range of products which are designed to help your booth stand out from the crowd and make your trade fair experience a success. It is important to think outside the box and try to come up with creative ideas for visitors to flock to your stand for a little light relief, once you’ve got their attention the rest is up to you and your sales staff.

Assessment

http://thedisplayoutlet.com/collections/prize-wheel

Conclusion

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How the Medical Executive-Post Survived to our 8th Anniversary?

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And … Why the American Medical News was Shuttered after 50 Years!

[Some Musing on our Eighth Anniversary]

Ann Miller RN MHA

[Executive-Director]

Happy BirthdayAccording to well known healthcare industry journalist Kevin B. O’Reilly, a dramatic drop in medical-publishing revenues caused the recent closure of the American Medical News, effective with a final edition of the newspaper published just last month.

Published for more than five decades, AMNews was hit hard by industrywide trends. The newspaper’s revenue fell by two-thirds during the last decade, as reported by Thomas J. Easley, senior vice-president and publisher of periodic publications for the American Medical Association [AMA].

Unsustainable financial losses forced the move despite the newspaper’s editorial quality, the AMA’s senior management reportedly said. But, the Association’s other news operations will be enhanced.

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What the Death of American Medical News Says About the Future of American Medicine

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How we survive!

We’ve been online for eight years now. We have a skeleton staff, a scalable business model, an almost free distribution model, no print analog, and a tiny electronic advertising revenue stream.

Oh, let’s not forget some brilliant essayists, contrarian contributors, insightful commentators and controversial opinions that are often the elephant in the virtual room. 

Our gratitude to you all is without limits.

So, how else do we do it?

Interestingly – Our print books are good, better and best sellers. We’ve been releasing one major, semi-peer reviewed text each year …. and sales are brisk. And, we are now negotiating to begin our next and ninth volume for 2014-15. We maintain our own copy-rights, perform in-house editing, seek out the best contributing authors, and reduce the cost of numerous channels of distribution. How do we do it, year after year? In a word, professional crowdsourcing.

Our consulting business is increasingly robust, too. Cudos to healthcare reform, managed care, and the PP-ACA!

And … another thing

I ask again. How do we do it? How do we stay in business?

Here are some more ways to help-us, do just that:

  1. Subscribe to the ME-P site
  2. Tell a friend or colleague about us
  3. Visit our Blogroll list
  4. Use our classified ads or advertise with us
  5. Purchase a printed handbook, dictionary, software product or textbook
  6. Use our career and educational resources
  7. “Ask a Consultant” for free advice
  8. Request a strategic competitive consultation
  9. Hire us for a medical practice valuation or revenue enhancement review
  10. Request a medical business planning RFP
  11. Purchase a practice management checklist
  12. Seek out our financial planning advice
  13. Ask for second opinion; hire our thought-leaders
  14. Request a healthcare econometrics review
  15. Seek out our practice management or business advice
  16. Become a Certified Medical Planner™ www.CertifiedMedicalPlanner.org
  17. Request a speaker for a pharmaceutical seminar or health convention
  18. Attend a seminar, sponsor or take a learning-teaching cruise with us
  19. Donate to us …  and repeat
  20. Buy a link … and repeat again
  21. Send a thank you note to our Publisher-in-Chief and Managing Editor
  22. Visit us often to review, read, rant and rave.

Bottom Line Eight Years Out

The ME-P is an austere … Labor of Love.

Please support us: Support the “Medical Executive-Post”

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Assessment

So, does the demise of the American Medical News really say anything at all about the ME-P; in addition to the future of domestic medicine? How do we avoid the same fate? Please tell us. Question Everything … Trust No One … Paddle your Own Canoe … Keep the Faith!

Conclusion

Your thoughts and comments on this ME-P are appreciated. Did the AMNews forget the aphorism; No margin – No Mission?

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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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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ADVISORS: www.CertifiedMedicalPlanner.org
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Introducing Neil H. Baum MD

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Our Newest ME-P “Thought-Leader”

By Ann Miller RN MHA

[Executive-Director]

Dr. BaumDr. Neil Baum is Associate Clinical Professor of Urology at Tulane Medical School and Louisiana State University Medical School, both in New Orleans, LA.

He is also on the medical staff at Touro Infirmary in New Orleans, and East Jefferson General Hospital in Metairie, LA.

Medical Background

Dr. Baum received his medical degree from Ohio State University Medical School in Columbus. He completed an internship at the University of California at Los Angeles, a residency in surgery at Harbor General Hospital, Torrance, California, followed by a second residency in surgery and a residency in urology, both at Baylor College of Medicine in Texas. Dr. Baum is certified by the American Board of Urology.

ME-P Relevance

Dr. Baum often shares his extensive experience from his urologic office and regularly speaks to medical practices, hospitals, and pharmaceutical and manufacturing companies on improving communications between physicians and patients, practice management, guerilla marketing, practice promotion and motivation.

He has also several books on efficient medical marketing. In fact, he is the author of Marketing Your Clinical Practice-Ethically, Effectively, and Economically, 4th Edition (Jones-Bartlett, 2010).

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And so, we are pleased he accepted our invitation as ME-P “thought-leader.” All our readers and subscribers look forward to his essays, comments and insightful contributions.

Essential ME-P Reader Concerns

I recently caught up with Dr. Baum with these two readership questions.

Q: Why Market and Promote Your Practice in the Era of Managed Care?

A: “Often physicians will discuss the current health care situation in their community and believe that their days of practice promotion are over when they have joined all of the managed care plans in the vicinity. The reality is that noting could be farther from the truth. Now marketing and practice promotion is even more important than in the “good ol’ days” of fee-for-service”.

Q: What is the Most Common Medical Practice Disaster?

A: “Natural disasters are not the most common cause of practice failure; man-made disasters such as computer crashes, power outages, and loss of electronic data are more likely to impact a medical practice”.

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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We Are Going Mobile – Now YOU Get Going!

By Ann Miller RN MHA

[Executive Director]

If you have one of the following mobile devices, you can download an app that lets you write posts, upload photos, edit your pages, and manage comments on our ME-P blog directly from your smart-phone device.

Assessment

Check out our hosts’ apps page to see the most current applications for your phone and desktop.

Noteworthy: If your phone is not one of the above, don’t worry – you can still use m.wordpress.com – a mobile version of our dashboard that lets you easily publish new blog posts and comments; so get started now!

Conclusion

Your thoughts and comments on this ME-P mobile initiative 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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Hospitals: http://www.crcpress.com/product/isbn/9781439879900

Physician Advisors: www.CertifiedMedicalPlanner.org

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Events-Planner: October 2012

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Events-Planner: OCTOBER 2012

By Staff Writers
“Keeping track of important health economics and financial industry meetings, conferences and summits”

Welcome to this issue of the Medical Executive-Post and our Events-Planner. It contains the latest information on conferences, news, and relevant resources in healthcare finance, economics, research and development, business management, pharmaceutical pricing, and physician/entity reimbursement!  Watch for a new Events-Planner each month.

First, a little about us! The Medical Executive-Post is still a relative newcomer. But today, we have almost 175,000 visitors and readers each month from all over the country, in addition to our growing subscriber base. We have been a successful collaborative effort, thanks to your contributions.  As a result, we are adding new resources daily. And, we hope the website continues to provide the best place to go for journals, books, conferences, educational resources, tools, and other things you need to establish the value your healthcare consulting and financial advisory intervention.

So, enjoy the Medical Executive-Post and this monthly Events-Planner with our compliments.

A Look Ahead this Month – And now, the important dates:

  • October 01-03: FRA Sub-Advised Forum. Philadelphia, PA
  • October 02-04: SRI Annual Conference. Uncasville, CT
  • October 16-19: CHIME Forum. Indian Wells, CA
  • October 21-24: MGMA Annual Conference. San Antonio, TX
  • October 23-23: SIFMA Annual Conference. New York, NY

MarcinkoAdvisors@msn.com

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

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

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Our Newest Textbook Release

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BOOK FOREWORD / TESTIMONIAL

A Barclay Bank Ad Campaign Photo

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“For the best fixed rates”

Source: Paul Higgins and Sandy Teagle – Futurists from Melbourne and Brisbane in Australia.

Assessment

Truth in advertising.

Barclay campaign says pic.twitter.com/0XOmyQjg

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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

DICTIONARIES: http://www.springerpub.com/Search/marcinko
PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
BLOG: www.MedicalExecutivePost.com
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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About the Institute of Medical Business Advisors, Inc

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iMBA, Inc

[www.MedicalBusinessAdvisors.com]

Championing the Financial Success of

Doctors and their Consulting Advisors

[Career Development Products and Services]

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

Your Personal DR. Invitation: Letterhead.iMBA_Inc.

Anatomy of a “Best Doctors and Dentists Award” [Marketing] Scam

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What is the value of an honor if it costs $6,000?

By D. Kellus Pruitt DDS

I apologize for misleading those I recklessly told that my name will appear in the December edition of TIME magazine as one of the winners of the Texas Best Doctors and Dentists Award. It’s been an embarrassing learning experience, and my pride is a little wounded from not recognizing signs that an ambitious salesperson in California was lying to me. But I’ll get over it, and will be wiser for the experience.

Wishful Thinking

Looking back on my wishful thinking, I should have known the honor of appearing in TIME magazine simply sounded too good to be true. On the bright side, in preparation for photos that weren’t taken, I did get my hair cut and vacuumed my office for this morning’s interview-turned-sales pitch.

About a month ago, a Texas Best Doctors and Dentists representative calling from a few feet south of the San Francisco Ethics Commission made it past my office manager and got me on the phone. Anthony, whose last name is unintelligible in the recording of our conversation, told me that I had been chosen by the Tarrant County Community to receive the 2012 Award, and would be featured along with other winners in TIME.

“Alright, how much does this cost?”

“There’s no cost to receive the award Doctor, or to appear in TIME magazine. You’ve been chosen based on your reputation in the Tarrant County community.

“OK, what are you selling?”

“We’re not selling anything, Doctor. You know this is the first time TIME magazine is featuring this award and what they are trying to do is they are trying to conduct their readers to the best doctors and dentists from local communities in America.”

Surveys Determine Award Winners?

When I asked him how I was chosen, he explained that the Texas Best Doctors and Dentists Awards firm was hired by TIME to conduct surveys of local specialists and research the popular dentist ratings websites to determine the award winners. Up until he said, “You may be familiar with droogle … “ in two syllables instead of four (DR.Oogle – doctoroogle.com), his pitch was credible. Even though I recognized the faux pas instantly, rather than probing a little deeper and asking him just one more common sense question – perhaps about how the “advertorial” insert in the Texas edition of TIME will be paid for – I apologized to Anthony for rudely assuming he was trying to sell me something. It was then that he knew I wanted to believe him more than experience. That’s the anatomy of a scam, even though no money was exchanged in the lesson.

A Legitimate [Free] Award

The award is indeed legitimate. I won it because of the kindness of my wonderful staff, patients and local colleagues. But I’m by far not the only dentist interviewed in Tarrant County like Anthony said. That was just one more lie targeting my pride – enticing me to consent to today’s interview. Only hours ago, I learned that 100 dentists in the state won the award, so there are probably a couple of dozen award winning dentists like me in Tarrant County.

Declining the Paid Upgrade

Even though I declined to purchase advertisement from Texas Best Doctors and Dentist today, my name will still be listed on the Texas Best Doctors and Dentists Website free of charge, and I’ll also receive a “nice plaque” in the mail in a week or so that will have the TIME magazine logo on it. All I had to do was listen to a 30 minute sales pitch for upgrading my free, ordinary listing on Texas Best Doctors and Dentists Website to something that might attract patients.

Who Needs It?

As far as my name appearing in the advertorial insert in the December edition of TIME magazine, statewide recognition of dentists’ efforts to please patients naturally can’t be given away. Oh hell no. In spite of what Anthony said, a write-up in TIME costs award winners $6,000. I’m certain those who say nice things about my staff and me don’t want us to raise fees to cover the expense of statewide advertising. Who needs it?

Assessment

I don’t think I have room on my wall for a Texas Best Doctors and Dentists Award plaque with a TIME magazine logo. I’m trying to find a place to hang my 1972, B – Team high school basketball plaque I came across while cleaning my office for a surprise sales pitch with no photos.

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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

DICTIONARIES: http://www.springerpub.com/Search/marcinko
PHYSICIANS: www.MedicalBusinessAdvisors.com
PRACTICES: www.BusinessofMedicalPractice.com
HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
CLINICS: http://www.crcpress.com/product/isbn/9781439879900
BLOG: www.MedicalExecutivePost.com
FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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How We Use the ME-P to Market and Reach Our Target Audience

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A Marathon –  Not a Sprint

By Dr. David Edward Marcinko MBA CMP™

[Publisher-in-Chief]

I am a runner on LSD. I have been running long, slow, distances for more than three decades. And, this is our advertising philosophy at the ME-P. Say What?

Goals and Objectives

The goal is simple enough to state, but reaching it is a challenge. The ever-rising expectations of social media, e-connectivity and Internet users require us to make constant improvements to the ME-P so that our visitor’s experience is relevant, meaningful and worthy of recommending to others.

Going Viral

For example, the humorous “viral videos” that often appear on YouTube, and elsewhere, may get forwarded in emails and generate millions of viewers for a few days, but then drop out of sight quickly. This is not an ME-P goal for our staff, expert contributors, and informed readers and subscribers. Such a “spike and drop” phenomenon is interesting, of course, but it is not our focus.

So, much like my LSD metaphor, we favor LSD … and are on cognitive steroids, of sorts.

The ME-P Way

Instead, at the ME-P, we post short and long topical essays, comments, graphics, videos and other website URLs with a much different goal in mind. What is it? To market to our niche audience, and obtain higher search engine rankings over the long term, in our areas of expertise and on a continuing basis. Sound like a long term stock-market investor, or LSD runner? You bet!

Assessment

We trust all ME-P readers, subscribers, advertisers and visitors agree.

Conclusion

And so, 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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

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

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Healthcare Organizations

An Update on Maslow’s Hierarchy of e-Needs for Modernity

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Understanding the New-Wave Social Media that Fuels Them

[By Staff Writers]

All medical professionals, and some FAs and behavioral economists, realize that Maslow’s hierarchy of needs is often portrayed in the shape of a pyramid, with the largest and most fundamental levels of needs at the bottom, and the need for self-actualization at the top.

So, this infographic takes Maslow’s theory and looks at the electronic social media tools that fulfill these needs.

Source: ticsyformacion.com

Assessment

Yet, another new-paradigm assessment of social media for doctors, financial advisors … and us all.

 

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Conclusion

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

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

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

***

Celebrating Our One/Third Millionth ME-P Reader

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Join the ME-P Celebration

By Ann Miller RN MHA

By Hope Hetico RN MHA

[ME-P Management and Staff]

Oh – good morning doctors, financial advisors, nurse-executives, HIT experts, healthcare CXOs and all medical management consultants, readers, subscribers, visitors and devotees of the Medical Executive-Post professional ecosystem.

We are reporting this “breaking-news” ME-P event live from an Institute of Medical Business Advisors, Inc. corporate retreat in seclusion up North.

The Breaking News!

We just wanted you to know that the Medical Executive-Post just served up content to its one / third millionth reader sometime this weekend, according to iMBA Inc statistics: www.MedicalBusinessAdvisors.com

It seems our text books, white papers and hand books are best sellers, too! And, our growing online education and certification program for financial advisors, CPAs, management consultants and medical professionals is gaining in popularity and stature, as well www.CertifiedMedicalPlanner.com

Thank you!

Celebrate Appropriately!

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Why Your Medical Office or Financial Advisory Practice Must “Go-Social”

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Go Social -OR- Go Home?

By Staff Reporters

Likes, followers, circles, networks and shares are all jargon used around the internet. Social media is the new language and being fluent is very necessary in business today. In fact, we have written about it before on this ME-P. Why?

Social media allows you to connect with your patients, clients, customers and viewers on a level that becomes personalized and more intimate. This in turn brings loyal patients and clients who become a part of your business model; both professionally and socially.

However, social media integration is a gradual process with huge long term rewards, potential benefits and pitfalls. And, the jury is still out on its’ relevance to medical practices, financial advisors and medical management consultants? Or, is it?

Assessment

So, here is an infographic breaking down the important facts and tips of social media.

Source: wix.com

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Please 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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

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

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How You Can Interact with the ME-P

First Join Us – then Opine and Contribute in Several Ways

By Hope R. Hetico RN MHA [Managing Editor]

By Ann Miller RN MHA [Executive-Director]

Join Our Mailing List

WRITE AN ESSAY

We’re looking for writers, journalists, reporters, bloggers and thought-leaders. Send us your 500-1,500 word original eassay to post, and get noticed by your peers.

CONTRIBUTE  OR COMMENT

Op-Ed pieces, opinions and comments are need too, for our live and inter-connected virtual community.

ADVERTISE

Want to reach a dedicated audience of healthcare professionals and financial services insiders and industry observers? We reach an active daily, and growing monthly, list of “movers and shakers”. Email us to find out about advertising options, or customize a campaign to fit your needs and audience.

ME-P CLASSIFIEDS

Reach a super focused healthcare audience with your text ads that can target doctors and related medical professionals, financial advisors, medical management consultants and health plan execs, as well as IT and other folks in our integrated 2.0 ecosystem – with your important message.

Contact us today!

Ann Miller RN MHA

MarcinkoAdvisors@msn.com

[Executive-Director]

About Premium Link Advertising on the ME-P

Premium Link Advertising on the ME-P

[Our Readers are Interested in What You’ve Got to Say]

What are Premium Links?

Premium [text] Links are a great advertising option because they look just like our regular “site content”, and so are generally more attractive to visitors.

For 1 month, 3 months, 6 months, or a full year, your company’s information, web site and email address can be placed on just about any post or perma-page of the Medical Executive-Post.

Policies

1) Premium [context] Link ads must be relevant to the healthcare or financial services industry, and are subject to editorial review.

2) We allow up to four Premium [text] Link ads per page, on a “first come, first served”, basis.

3) Premium [text] Link ad placements are “page specific”, meaning you choose the page or post on which to advertise (thus targeting a specific audience).

4) Perma-Pages are more costly than post-pages.

Start advertising today! Here’s how:

1) Contact us for a rate card or quote. 2) Send in your ad info to Ann Miller RN MHA 3) Pay for your ad via your PayPal account

If you have any questions, please email or call: MarcinkoAdviasors@msn.com Phone: 1-770.448.0769

Ann Miller RN MHA

[Managing Editor]

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The ME-P is Approved for Syndication with Newstex

Because All Content is NOT Created Equal

By Neccia Celli
Content Acquisitions – Newstex LLC

Hi Ann,

Thank you for filling out our web query form and for your interest in content syndication!  

We’ve approved  the Medical Executive Post for syndication with Newstex.

Voice: (212) 380-1855 x 7011
Fax: (203) 889-3000
Skype: ncelli
www.newstex.com / www.newstexblog.com
“Blogs on Demand”

About Newstex

Newstex was founded in 2004 with the goal of providing real-time news and commentary collected from the world’s best online and offline sources to customers who need information but don’t have time to gather it from a myriad of places.

Today, Newstex offers aggregated news and full-text feeds from thousands of premium blogs as well as Twitter, audio and video content from editorially-selected, authoritative news, corporate, and independent publishers. This is Authoritative Content.

Assessment

The Newstex network of distributors covers a wide range of channels. Companies like LexisNexis and Amazon Kindle deliver Newstex Authoritative Content news and commentary in various customized formats to meet end-user needs.

Business people, academics, financial analysts, journalists and more use the content delivered to them through Newstex products everyday to make their jobs easier and enhance their lives.

Conclusion       

And so, your thoughts and comments on this new ME-P syndication are appreciated. Please 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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

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

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Ring In the Year with a Subscription & Donation to the ME-P

An ME-P Staff Impact Round-Up for 2011

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By Dr. David Edward Marcinko FACFAS, MBA, CPHQ, CMP™

[Founding Publisher, CEO and Editor-in-Chief]

By Professor Hope Rachel Hetico RN, MHA, CPHQ, CMP™

[Managing Editor]

By Ann Miller RN, MHA

[Executive-Director]

And, with Edward, Mackenzie and Cecelia [staff members]

This has been a year of incredible impact for the ME-P. And, as volunteers, we’re making a vital difference.

So, as 2011 comes to a close, please formally subscribe to us for free, cease the “lurking” -and-  consider making a monetary donation to help us continue this important work.

Subscription link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Donation link: www.e-junkie.com/ecom/gb.php?c=cart&i=641232&cl=109140&ejc=2 

Our Impact?

What do we mean by impact? We hope these three examples, each from the integrated sectors we serve, give you an idea.

The Financial Services Industry

First is the essay on Mary Schapiro, the current SEC Chairwoman. In it we advocate for all investors, not just physicians and medical professionals, so that everyone receives trusted financial advice and not just the bastardized contortion that she – and those on Wall Street that she is beholden to – dreamed up in some linguistically parsed, ethically challenged and obtusely regulated mashup definition of honesty.  Demand fiduciary accountability at all times; period. Just as one can’t be a little pregnant – “financial advisors”, planners, and stock-brokers can’t be a little honest.

Link: https://medicalexecutivepost.com/2011/12/19/the-one-woman-physician-investors-should-not-trust/

The Health Care Sector

Then, there is the essay from investigative reporter Darrell K. Pruitt DDS that not only humiliated the ADA and toppled a dental management CEO and his embarassed company, but who also repeatedly warned all medical professionals on the risks and benefits of eHRs. Although not technophobes, we do believe – like the silent majority – that while eHRs are indeed the future, they are not currently ready for meaningful use, real security or the user friendly prime time they promise, despite PPACA, HITECH and ARRA legislation. Incentives, mandates and financial credits promote bubbles, not a competitive marketplace of true innovation.

Link: https://medicalexecutivepost.com/2011/11/15/on-the-leadership-shake-up-at-the-cr-foundation/

The Medical Management Consultants

Finally, our impact can – and should also be – more personal. For example, we continued writing about the future of medical practice, evolving and emerging models and those economic consultants who advise, suggest, recommend, appraise, manage and value healthcare business entities. The work of colleague Robert James Cimasi MHA, AVA, CMP™ and the folks at Health Capital Consultants LLC, come quickly to mind. Without them, our newest textbook for 2012, Hospitals and Healthcare Organizations, would not be the financial management opus it is sure to become.

Link: http://www.crcpress.com/product/isbn/9781439879900

ASSESSMENT

And so, your support is needed in 2012. Have a Happy and Healthy New Year!

Donate: www.e-junkie.com/ecom/gb.php?c=cart&i=641232&cl=109140&ejc=2 

Conclusion      

As always, 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.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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

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

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Marketing Basics for Financial Advisors and Physicians

On Differences and Similarities

By David K. Luke; MIM

[Investment Advisor]

www.NetWorthAdvice.com

The difference between internal marketing and external marketing for physicians is that internal marketing is the management strategy of improving satisfaction by making patients aware of the positive differences in the physician’s practice –versus- other modern or traditional alternatives that the doctor might externally use [yellow pages, coupons, TV, radio, internet, blogs, etc].

Now, compare marketing with advertising, which attempts to draw patients to the medical practice or clinic using more expensive channel distribution means and/or media messaging.

The “X” Factor

Internal marketing gives the patient “something extra” during the visit that tends to make them pleased, satisfied – or better yet – delighted!

In show business, Simon Cowell calls this something extra the “X” factor.

Whether it is a “Patient Bill of Rights” or just making sure that patients are treated fairly, and with respect throughout the process, turns the patient into a practice advocate instead of a patient from hell.

Improved listening/communication can come in the form of an attentive and caring human ear, enhanced bedside manner, or technology like P[C]RM (Patient {Client} Relationship Management) tools and/or eMRs, for example.

Sloppy Medical Office Procedures

Having office staff involved, by noticing improvements, can also help with the implementation of a successful internal marketing strategy. Sloppy office procedures can be cleaned up, scheduling access management can be revamped, and any administrative mix-ups can be avoided.

Negative practices such as “we enforce a minimum $50 office visit fee” should be stopped, as this casts a negative attitude on all patients, not just future deadbeats.

An effective P[C] RM strategy can increase patient satisfaction and be inexpensive to implement and maintain, especially in light of modern advertising tools for medical practices.

Financial Advisor Comparisons 

A physician’s internal marketing program is comparative to an FA’s internal marketing program, in that both methods are much more cost effective and yield better results than traditional external marketing or advertising.

For an FA, the practice of encouraging referrals can be done discreetly without making the existing clients uncomfortable.

An FA practice that is “referable” is one in which there are consistent standards and procedures in place. This creates a comfort factor with existing clients and assures them that when they refer their friends and family they will also receive consistent quality treatment.

Assessment

An FA can implement procedures similar to a medical practice by training staff to point out and recognize office procedures that might be improved. Letting clients know they are appreciated and that referrals are accepted sounds like obvious advice, but is often ignored by too many Financial Advisors, and even doctors.

Editor’s Note: David K. Luke is currently enrolled in the online www.CertifiedMedicalPlanner.org chartered professional designation program.

Conclusion

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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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Understanding the Power of Consumer and Patient Sentiment

About New-Wave Social Media and Medical Marketing

By Staff Reporters

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With social media and healthcare data becoming a focus for many healthcare businesses, hospitals and even medical practices, how are doctors taking advantage of consumer and new-wave patient sentiment?

Businesses like clinics and medical practices have more power than ever to start gleaning insights from online patient conversations to measure sentiment, and ultimately put power back into the hands of patient-consumers.

Source: IBM.com

Conclusion     

And so, 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.

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Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Inbound Healthcare Marketing vs. Outbound Marketing

A New Paradigm for Physician Executives

By Staff Reporters

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Thanks to the Internet, medical marketing has evolved over the years. Consumers and patients no longer rely solely on billboards and TV spots — a.k.a. first-generation outbound marketing — to learn about physicians, new products or medical services, because the web has empowered them. This is especially true for payment services like HD-HCPs, direct care business models, private pay and concierge medicine, etc.

In fact, the internet gives patients next-generation alternative methods for finding, buying and researching brands, products and yes – even doctors and providers. The new marketing communication — inbound marketing and health 2.0 — has become a two-way dialogue, much of which is facilitated by social media.

Assessment

Source: voltierdigital.com via mashable.com

Conclusion

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How Financial Advisors Can Earn Exposure on the ME-P

Using Our Free -or- Fee Based Methods

Ann Miller RN MHA

[Executive-Director]

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Dear Financial or Investment Advisor, Consultant or Financial Planner

Are you looking for added marketing exposure for yourself, your website, or your financial advisory business or financial planning firm? Do you have some area of expertise in the financial planning niche for doctors and medical professionals?

If so – the Medical Executive Post is here to help make your brand, website presence and your original articles and comments available to the more than 175,000 visitors that read us every month.

How for Free?

The first step is to join us:

  1. Then submit an original essay, or comment on an existing ME-P [no store bought or ghost written material]. Include an author bio with photo.
  2. Get feedback and back-links to your email address or website with the added marketing exposure to our community.
  3. Serve your clients well.

How for Fee?

The first step is to join us.

  1. Submit videos, with audio, to give yourself or firm, additional time and exposure for a small fee.
  2. Help us create an Expert Page – a dedicated page on our website that provides additional information exclusively on you, your services and products. Use this page to network and communicate with doctors, nurses and other medical professionals in need of your services, products or advice.
  3. Serve your clients well.

Assessment

We look forward to helping you gain exposure to ME-P readers and subscribers – a win-win proposition for all concerned.

Thank you.

ME-P Editorial Department

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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Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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How Much Money Should a Medical Practice Spend on a Strategic Marketing Campaign?

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Today – A Frequently Asked Question

By John Deutsch

As a web services company specializing in medical practice marketing and medical web design, we are asked this question frequently.

Introduction

In this turbulent post healthcare reform era, physicians are now being challenged to either adjust to the market or be forced to join a hospital in order to stay profitable. The physicians who are adjusting to the changes are adopting new ideas in order to remain profitable – such as implementing Electronic Medical Record (EMR) systems with government stimulus money, introducing new cash-based or high profit services such as aesthetic treatments, or introducing concierge medicine care and launching marketing campaigns to attract higher-profit patients.

So – What is the industry standard for marketing budgets?

While suggested marketing budgets vary significantly from one industry to the next, the US Small Business Administration (SBA) suggests a marketing budget between 2% and 10% of gross revenue.

However, budgets for Business-to-Consumer, retail companies and pharmaceutical companies can exceed 20%. But, with a range of between 2% and 20%, where should a medical practice be?

How much should I spend?

Here’s a few questions to consider when identifying a marketing budget for your practice. Start with a recommended 5% marketing budget and add/subtract from there.

1)  Do you receive the majority of your patients through physician referrals – SUBTRACT 2%? If you do, and consider that a business model of receiving referrals from physicians is a sustainable one then you’re in the clear. Keep in mind that many practices are now being bought by hospitals and will therefore refer internally.

2)  Do you have any high-profit or cash-pay products/services – ADD 2%? If your business depends almost entirely on insurance/medicare reimbursement and there is limited profit margin on these products, your business is at a very high-risk since the trends in reimbursement have not been positive. You should consider introducing new products/services to diversify your revenue channels.

3)  Have you recently introduced new high-profit products/services such as aesthetics, concierge, diagnostics or nutraceuticals – ADD 5%? If you have, you’ve likely introduced new hard costs into your business. You therefore need to market these services enough to surpass your break-even point and generate a positive ROI on these new ventures.

4)  Are you located in or near a major metropolitan area – ADD 1%? If you have the ability to draw from a large pool of customers, especially where competition is higher, you must have sufficient marketing budget.

5)  Are you losing market share to another business in your area – ADD 2%? If you are, it is a slippery slope. The vast majority of medical practices are poorly marketed, even hospitals. Introducing a new marketing campaign in order to win back your market share will likely not require significant investment.

6)  Are your current marketing efforts producing a positive ROI – ADD MAX? If your marketing efforts are producing a positive ROI its an easy decision – max out your budget to a level that is sustainable for your current work load capability while maintaining a positive ROI on your marketing efforts. Sometimes businesses lose focus on which marketing campaigns are working and which are not. They get lumped together and focus is lost. Try to identify which of your marketing campaigns have been a success, track these campaigns as much as possible and make educated decisions for increasing the budget – while decreasing budgets on your poor performers. Internet marketing is one of the most effective forms of marketing and also offers the highest ability for precise ROI tracking.

About the Author

John Deutsch is the founder and CEO of Medical Web Experts, a marketing group for physicians, hospitals and healthcare organizations. Since 2001 he has specialized in healthcare marketing and has implemented hundreds of marketing campaigns. For additional marketing tips by John Deutsch, please read his blogs: johndeutsch.blogspot.com and medicalwebexperts.com/blog/

Conclusion

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FINANCE: Financial Planning for Physicians and Advisors
INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors

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Dr. David E. Marcinko is “In-the-News”

Our ME-P Editor is an Industry “Mover and Shaker”

By Ann Miller RN MHA

[Executive-Director]

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Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

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Be Heard on e-Media’s Leading Physician-Advisor Voice

The Medical Executive-Post

By Ann Miller RN MHA

[Executive-Director]

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The Medical Executive Post is the web’s leading professional media platform for doctors and their financial advisors and medical management consultants

Submissions

You can engage this influential audience by submitting a guest opinion on any of our more than 50 core topics. Newspaper reporters and editors, along with television producers, regularly read the ME-P, so this is an opportunity to get noticed by major media outlets.

Format

Articles of about 500 -1,000 jargon free words in length, and free of grammatical and spelling errors, are preferred. Accepted pieces will be published on the ME-P and are syndicated or re-published elsewhere.

Copyright

Authors retain rights to their pieces, which may also be published elsewhere. Talented and varied folks from professional organizations such as the AMA, APMA, ADA, AOA, FPA and various BDs and RIAs contribute regular, exclusive pieces to the ME-P, as well as a core group of influential medical, health economics, financial planning, medical management and consultative sales voices.

Assessment

Please send your article here for consideration: MarcinkoAdvisors@msn.com

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

Our Other Print Books and Related Information Sources:

Health Dictionary Series: http://www.springerpub.com/Search/marcinko

Practice Management: http://www.springerpub.com/product/9780826105752

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Send Us Your Good News

Tell Us Your Success Story and Allow Us to Brag on You!

By Ann Miller RN MHA

[Executive-Director]

Email: MarcinkoAdvisors@msn.com

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  • Do you have a new job?
  • Did you win an award?
  • Spoken at an industry conference or seminar?
  • Or, have you published a new book or white paper?
  • How about an amusing anecdote to share with us?

Attention

Doctors, medical management consultants and financial advisors, alike!

We want to know what ME-P readers, members and visitors are up to.

Please share your good news with your colleagues by emailing it to me. 

Conclusion

It is our contention that the ME-P attracts the “brightest and the best” in our niche space.

Now – here is you chance to prove it to us and the world – Go for it!

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Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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

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