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As a medical professional, are you looking for ways to make your practice more profitable and boost your efficiency?

Or, as a financial advisor to doctors, are you looking to develop deeper relationships of knowledge and trust with your physician clients?

We can help!

Well, look no more! We can help. Designed with both advisors and physicians’ needs in mind, the ME-P website is filled with practical advice on the most-requested topics. Join us by subscribing so you can read about practice management and physician focused financial planning, and network with your fellow physicians and FAs. You don’t even have to leave the office!

More than 50 topics

  • The ABCs of RVUs
  • Hospital/Practice Integration
  • Employment Contracts
  • eHR Incentives are Here
  • How Health Reform Will Affect You
  • 5010 Transaction Standards
  • Malpractice and liability
  • Fiduciary standards
  • Financial advisors versus planners
  • SEC and FINRA rules and regulations
  • Health economics, finance and insurance
  • Medical business models
  • ACA, and so much more!

Enter the Certified Medical Planners

A Working-White Paper:

Enter the CMPs

Assessment

Get all the benefits of a personal consultant without the hassle and expense of traveling. Subscribe today. Read posts and comment on more than 50 topical channels addressing the hottest topics in medical practice and financial management today.

CMP.Candidate.Welcome

Link: http://www.CertifiedMedicalPlanner.org

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

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

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NAACOS Recognizes Three ACOs for Health Care Improvement Efforts

Essentia Health, Ochsner Accountable Care Network, and Primaria Health win NAACOS Leaders in Quality Excellence Awards

[By David Raths]

At its Spring 2021 Conference, the National Association of Accountable Care Organizations (NAACOS) recognized three ACOs for their outstanding work to improve patient care in their communities.

DEFINITION: https://www.cms.gov/Medicare/Medicare-Fee-for-Service-Payment/ACO

NAACOS said the three inaugural winners exemplify how ACOs across the country are improving care by addressing food insecurity, making house calls to reduce preventable emergency department visits, and engaging patients in preventive services.

NAACOS 2017 Spring Conference - arcadia.io

LINK: https://www.hcinnovationgroup.com/policy-value-based-care/accountable-care-organizations-acos/article/21219825/naacos-recognizes-three-acos-for-care-improvement-efforts

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DICTIONARY: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

Your thoughts are appreciated.

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MEDICINE: Death of a Profession

How the government’s accelerating takeover of private medicine destroys doctors and threatens the health and well-being of every American.

By Leonard Peikoff

This lecture was delivered at Boston’s Ford Hall Forum in April 1985, published in the April – June 1985 issues of The Objectivist Forum and anthologized in The Voice of Reason.

Medicine Death - Encyclopaedia Metallum: The Metal Archives

LINK: https://courses.aynrand.org/works/medicine-the-death-of-a-profession/

EDITOR’S NOTE: This essay today is more salient than ever before.

Assessment: Your thoughts are appreciated.

THANK YOU

***

R.I.P. Doctor-Patient Relationships?

Is the doctor-patient relationship the biggest victim of Covid-19?

By Richard Walker

QUERY: How many patients were harmed by disruption to routine medical care?

And, could the most damaging aspect of the Corona Virus pandemic be the routine medical care of patients by their doctors?

Sally Pipes

ANSWER: BRI Board Chair Sally Pipes thinks so … WATCH NOW!

LINK: https://www.foxnews.com/opinion/coronavirus-lockdown-how-many-harmed-disruption-medical-care-sally-pipes

ASSESSMENT: Your thoughts are appreciated.

THANK YOU

***

FTC to Probe Physician Practice Consolidation

Requests 6 years of patient-level claims data from insurers

By Ryan Basen,

The Federal Trade Commission (FTC) recently announced plans to examine the consequences of physician group consolidation with healthcare facilities.

The agency said it had sent orders for 6 years’ worth of patient claims data to six insurers to inform this review: Cigna, United Healthcare, Anthem, Florida Blue, Aetna, and Health Care Service Corporation.

Consolidation of US Physician Practices Continues to Surge

LINK: https://www.medpagetoday.com/practicemanagement/practicemanagement/90792?xid=nl_mpt_DHE_2021-01-21&eun=g1650026d0r&utm_source=Sailthru&utm_medium=email&utm_campaign=Daily%20Headlines%20Top%20Cat%20HeC%20%202021-01-21&utm_term=NL_Daily_DHE_dual-gmail-definition.

Your thoughts are appreciated.

THANK YOU

***

Crossover Health’s CEO on Next Move?

Private? Public? With a Payer?

[By staff reporters]

Reporter Jessica DaMassa, the emerging ‘It girl’ of health tech interviewing, chats it up with a ‘who’s who’ of the health care business scene. Today, it is Scott Shreeve MD of Crossover Health.

Looking past the virtual-first primary care company’s $168M Series D offering, CEO Shreeve gets grilled on the long-game.

LINK: https://www.youtube.com/watch?v=8rTJVjgHlL4

Apple Considered Acquiring Healthcare Startup Crossover Health

Your thoughts are appreciated.

THANK YOU

***

Medicare Advantage Strategies for Medical Providers

By Mark Hagland

Sifting Through the Nuances Around Medicare Advantage Strategic Issues for Providers

Should hospital-based integrated health systems establish provider-sponsored health plans? Or move more quickly into risk-based contracts with health plans?

The Chartis Group’s new report offers clues

Your thoughts are appreciated.

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Should Doctors Protect their Turf?

Testing Free-Market Principles and Medical Licensing

By Mike Accad MD

It’s been a little over a 100 years since medical licensing laws were introduced in the US.  If people doubt that slippery slopes are real, they should reflect on that history.

In our latest video, Anish Koka and I discuss a “white paper” jointly written by Jeffrey Flier, former dean at Harvard Medical School, and Jared Rhoads from the Dartmouth Institute, calling for some deregulation of the apparatus that rules the supply of physicians and their scope of work. The paper gives an exhaustive account of the bureaucratic mess and offers some possible remedies.

LINK: http://alertandoriented.com/should-doctors-protect-their-turf/

RELATED: https://medicalexecutivepost.com/2014/09/26/is-medical-licensing-really-necessary/

Your thoughts are appreciated.

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The CERTIFIED MEDICAL PLANNER® Charter Designation Program

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CERTIFIED MEDICAL PLANNER® CHARTER DESIGNATION PROGAM

[A Continuing Education Portal for Financial Advisors]

By Ann Miller RN MHA

An Information Technology Educational Futurist

Today, colleges and universities are finally beginning to identify students who are adept at learning online and reward the top achievers and professors. Employers, graduate and medical schools are beginning to troll MOOCs [massive open online courses] seeking viable job, and academic, candidates.

In fact, when I last checked, the nation’s public health administration and related B-student were enrolled in more than 118 online programs. MOOCs offer greater access for a larger number of students, at significantly lower costs than on-site programs.

By the same token, technology like Blackboard®, Cernage, and eXplorance, Kalture and related must be used to full potential. Smart phones, PCs and tablets, videos, interactive games, AI simulators and related apps with Skype®-like virtual classrooms and cloud storage are obvious embellishments to online initiatives. 

An Executive Education Pioneer 

Moreover, it is increasingly imperative that technology be used to expand the universe of targeted adult-learners. This is for aspiring professionals and business executives, or those already in the workforce.

Estimates by Business Week suggest that adult executive education in the US is a $900 million annual business with approximately 80 percent provided by university schools. Beside the educational benefits, monetary dividends are reaped as open enrollment eases matriculation access. Similar programs at the Wharton School, Darden, Harvard and the Goizueta Business School at Emory University charge premium rates for the implied institutional moniker.

ENTER the CERTIFIED MEDICAL PLANNER® charter designation

According to industry pundit: Mike Kitces MSFS CFP CLU ChFC EA

The CERTIFIED MEDICAL PLANNER™ charter designation program was created by Dr. David Marcinko (who edited the Financial Planning Handbook for Physicians and Advisors” [1st and 2nd editions”] AND “The Business of Medical Practice [1st, 2nd and 3rd editions]. It is intended for those financial advisors, medical management consultants or healthcare CXOs who aim specifically serve physicians and the allied healthcare and medical community.

http://www.BusinessofMedicalPractice.com

Out content focuses not only on the risk management, insurance, investment and financial planning issues relevant to all independent or employed physicians, but also provides an understanding of the business, economic and financial aspects of medical practice management so that CMP™ charter holders can help their physician clients achieve the next level of businesses in the modern era.

“The informed voice of a new generation of fiduciary advisors for healthcare”

 Like medical professionals, all licensed Certified Medical Planner™ charter-holders are required to act in accordance with governing regulations. They are required to sign a Code-of-Ethics attestation confirming the intent to run their advisory and/or management consulting business according to a strict set of fiduciary standards. 

PROGRESS: After several years of proof-of-concept preparation, we secured the website URL: http://www.CertifiedMedicalPlanner.org complete with copyrighted logo and launched. We now have about 60 graduates under a quarter-semester business model with 3 mandated proprietary textbooks, case models, test questions and checklists, and 3 recommended proprietary dictionary handbooks which we produced and copyrighted.

Our strategic competitive advantage [SCA] is four-fold: fiduciary status, asynchronous education with “live” instructors, deep curriculum granularity and requisite undergraduate degree.

PRODUCT LINE EXTENSION: Our course materials are kept updated thru our website platform: http://www.MedicalExecutivePost.com with half million readers / subscribers

Full Disclosure: We are currently under non-disclosure agreements [NDA] with a VC firm located in Durham, NC that acquires, invests and operates a portfolio of educational and healthcare media, market intelligence, online certification programs and associated businesses.

NOTE: We would consider a revenue sharing relationship with a major University SBE in order to quickly achieve scale, automate the program and establish a scholarship fund.

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™

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The Integrated Patient-Centered Medical Home Model

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Tools for Transforming Our Healthcare

By Matias A. Klein

[VP, General Manager, Clinical Quality and Collaboration, Portico Systems]

The patient-centered medical home (PCMH) continues to attract increasing attention from many industry stakeholders. The PCMH model has the potential to enhance the US healthcare system by rejuvenating primary care in a way that improves clinical outcomes, lowers costs, promotes wellness, and increases patient and physician satisfaction.

PCMH Pilot Programs

PCMH pilots are currently being tested in almost all states, including a 3-year Medicare medical home demonstration project overseen by the Centers for Medicare & Medicaid Services. However, few organizations have scaled the PCMH across their entire healthcare network, and the existing implementations appear to remain focused on care management at the expense of patient wellness. The value of focusing equally on promoting wellness (although an underappreciated nuance in the implementation of a PCMH) is a critical factor in effectively leveraging the PCMH model to improve clinical outcomes and the US healthcare system.

Centered on the Patient

The PCMH model, as its name suggests, is centered on the patient. The underlying thought is that if a comprehensive, longitudinal view of a patient is taken throughout a patient’s lifespan, the patient’s health could be better “managed” and better aligned with best medical practices. It is well documented that physicians do not consistently or frequently apply evidence based, recommended care to patients. Therefore, a major goal of the PCMH model is to improve the consistent application of evidence-based guidelines and best practices, by making longitudinal information about the patient available to providers and to patients – including any risks and recommended “intervention opportunities.” And although adherence to best practices in disease management is crucial, the PCMH model also focuses on preventing costly episodes by promoting and incentivizing wellness.

PCPs = Medical Homes

To effectively manage a patient’s health and promote wellness, primary care physicians – designated as medical homes – need to act as health “quarterbacks” or “coaches.” In such a role, these physicians will assist in aggregating a patient’s health information, making best practices transparent, offering health education and counseling, as well as coordinating the provisioning of any healthcare services the patient may need. With physicians spending significant time coaching and making critical clinical decisions, these services will be delivered with the support of care management nurses, who will handle the majority of the information processing and operational activity.

An Innovation in Care

The PCMH model is an important innovation in care delivery and has the potential to reduce medical and administrative costs, while improving the quality of care. However, how to implement the PCMH model within a care-delivery system remains unclear. Providers need the requisite infrastructure and capabilities at their locations to meaningfully participate in a PCMH. Patients must be engaged over long periods of time in proactively managing and improving their health. Outcomes and quality must be objectively measured to optimize the delivery of best possible patient care.

Potential Value

To realize the potential value of the PCMH, three distinct stakeholders – patients, providers, and health plans – must work in a collaborative way. Getting these stakeholders synchronized (i.e., aligned in their goals, using interoperable tools, and collaborating on an operational level) is no small feat but can be accomplished with the smart application of technology. Bringing these three stakeholder groups together on a common, collaborative technology platform results in what some are beginning to call the integrated PCMH. The integrated approach to the PCMH can best ensure that implementing a PCMH model does not create additional administrative burdens to health plans or provider organizations.

An integrated PCMH provides a framework for stakeholders to collaborate in a transparent fashion, and where quality, best practices, and outcomes are incentivized. The integrated PCMH also provides a pathway being awarded a medical home designation.

Vertical Integration Deployment

The key to deploying an integrated PCMH is an end-to-end vertical integration of the care-delivery process – that is, a process in which the provider network management, automation, information exchange, and analytics solutions are tightly integrated with patient and provider information. With so much complexity and so many “moving parts” in the delivery of the PCMH model, this end-to-end vertical integration is a practical solution that enables effective coordination of care and accurate measurement of quality: with such system integration, the provider network (e.g., the health plan) can bring economies of scale to even the smallest provider offices to optimize the quality of care delivery.

The 5 Keys

The five key components for such an integrated PCMH are:

  1. A source-of-truth for mapping medical home – designated providers, patients, as well as  the associated relationships with health plans and other medical professionals; a central medical home fact checking is critical for effectively identifying, managing, and communicating with medical home and their networks.
  2. A set of collaborative workflows that align stakeholders with best practices, incentives, and quality measures reporting; these collaborative workflows help each stakeholder understand where a given patient is in the care-delivery process, potential intervention opportunities, why certain interventions are being emphasized, and what incentives are available for executing specific interventions.
  3. An infrastructure for clinical integration and distribution of intervention opportunities, clinical reference content, education, alerts, and reminders. This infrastructure allows all stakeholders to have access to up-to-date, accurate patient information; it aligns stakeholders and helps reduce or eliminate duplication of procedures and tests.
  4. Interoperable clinical applications and collaboration tools to enable patients and physicians to engage in medical home processes; these tools – which include electronic medical records, e-prescribing, e-labs, secure e-mail, personal health records, and document management and exchange technology – can help manage health information, assist with decision-making, and improve communication between patients, providers, and health plans.
  5. Incentive management and analytics tools for modeling, setting, measuring, and rewarding incentives based on quality measures and outcomes; these tools must span the entire PCMH delivery process and are required for objectively evaluating and optimizing the performance of a medical home.

When considering the multiplicity of stakeholders, information, software systems, and knowledge that has to be coordinated in the context of a PCMH model, implementing a medical home pilot and scaling it to a full-blown network may seem a daunting task. The integrated PCMH offers a real-world solution for deploying a scalable and flexible infrastructure for the management of this emerging care-delivery model.

Assessment

Early evaluations of the PCMH model show promising, albeit inconclusive, outcomes. The integrated PCMH model offers a practical road map for deploying a management system that will enable objective measurement of PCMH performance and outcomes.

Conclusion

Although the jury is still out on the ultimate value of the PCMH, deploying an integrated PCMH system can help position PCMH pilots in a way that enhances their flexibility and scalability to support full-scale network transformation.

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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On Physician [Un] Match Day 2021

UN-Match day 2021

By Staff Reporters

DEFINITION: Match Day is a term used widely in the graduate medical education community to represent the day when the National Resident Matching Program or NRMP releases results to physician applicants seeking residency and fellowship training positions in the United States.

Unmatched physicians

So many physicians this year didn’t match, just like any other yesteryear.

* All have gone to medical school after being 1-10 top percent of their premedical courses.
* All have finished medical school .
* All of them have passed their USLME exams, but they didn’t match.

Medicine is calling for all of them, but they won’t be practicing medicine.

Why?

Limited number of spots for the new residents.
We know that there is shortage but we let these doctors not practice medicine.
Such an irony.

Assessment

  • Let these doctors practice in a supervised environment!
  • Your comments are appreciated

THANK YOU

PARSING “MEDICAL NECESSITY” IN HEALTH CARE

PARSING “MEDICAL NECESSITY” IN HEALTH CARE
Courtesy: https://lnkd.in/eBf-4vY
Terms and Definitions to Debate

DHIMC: https://lnkd.in/e9AmEhd
FOREWORD: https://lnkd.in/gywd_Ad

MEDICALLY NECESSARY CARE: The supplies and services used to diagnose and treat a medical condition within the standards of good medical care. The revenues from health insurance premiums spent to pay for the medical services covered by the plan. Usually referred as a ratio, such as 0.95, which means that 95% of premiums were spent on purchasing medical services. The goal is to keep this ratio below 1.00–preferably in the 0.75, range, since the insurance plan’s profit comes from premiums.

MEDICALLY NEEDY: Patients eligible for Medicaid whose medical bills and total income is below certain limits.

MEDICALLY UNNECESARY CARE: That part of a stay in a facility [case manager] determined as excessive to diagnose and treat a medical condition in accordance with the standards of good medical practice and the medical community. Excessive may be because stay was too long or available in a less costly or more efficient setting.

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

“PERFORMANCE OF PUBLIC HOSPITALS IN KENYA”

“PERFORMANCE OF PUBLIC HOSPITALS IN KENYA”
Courtesy: https://lnkd.in/eBf-4vY
[THE ESSENTIAL ROLE OF MANAGEMENT]

Proud to be mentioned and cited in this new hospital management publication.
WHITE-PAPER: https://lnkd.in/eP_5JuR
Your thoughts are appreciated.

HOSPITAL MANAGEMENT & BUSINESS TEXTS:
1 – https://lnkd.in/eEf-xEH
2 – https://lnkd.in/e2ZmewQ
THANK YOU
***

Doctors and Nurses FIRED During the US Pandemic

If They Speak Out About Lack of Gear

By Staff Reporters

***

LINK:

https://www.bloomberg.com/news/articles/2020-03-31/hospitals-tell-doctors-they-ll-be-fired-if-they-talk-to-press

Your thoughts are appreciated

THANK YOU

Book Dr. Marcinko for your Next Seminar!

Book Marcinko

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Book Speaker Dr. David E. Marcinko CMP® MBA for your Next Medical, Pharma, Hospital, University or Financial Services Seminar or Personal and Corporate Coaching Sessions 

dr-david-marcinko11

Dr. David Edward Marcinko, editor-in-chief, is a next-generation apostle of Nobel Laureate Kenneth Joseph Arrow PhD, as a health-care economist, insurance advisor, financial advisor, risk manager, and board-certified surgeon from Temple University in Philadelphia.

In the past, he edited eight practice-management books, three medical textbooks and manuals in four languages, five financial planning yearbooks, dozens of interactive CD-ROMs, and three comprehensive health-care administration dictionaries.

Internationally recognized for his clinical work, he is a past endowed chair; professor of health economics, finance and public health policy management; and distinguished visiting professor of surgery as a Bachelor of Medicine–Bachelor of Surgery (MBBS) degree recipient from Marien Hospital in Aachen, Germany.

He provides litigation support and expert witness testimony in state and federal court, with medical publications archived in the Library of Congress and the Library of Medicine at the National Institutes of Health.

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iMBA, Inc Seminar Topics

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

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

***

[HOSPITAL OPERATIONS, ORGANIZATIONAL BEHAVIOR AND FINANCIAL MANAGEMENT COMPANION TEXTBOOK SET]

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[Foreword Dr. Phillips MD JD MBA LLM] *** [Foreword Dr. Nash MD MBA FACP]

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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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https://davidedwardmarcinko.com/speaking/

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What to do when [medical practice] business is slow?

Why Not Update Your Medical Practice Business Plan?

By Dr. David Edward Marcinko MBA CMP

http://www.CertifiedMedicalPlanner.org

***

MBA Business Plan CAPSTONE Outline

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]

***

MEDICAL PRACTICE VALUATION BLUNDERS

COMMON MEDICAL PRACTICE VALUATION BLUNDERS TO AVOID?

Courtesy: www.CertifiedMedicalPlanner.org

A Medical Practice business valuation is a set of procedures to estimate the economic value of a physician owner’s interests. Valuation is used to determine the price they are willing to pay or receive to affect a sale of the practice.

LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

The same valuation tools are often used to resolve disputes related to estate and gift taxation, divorce litigation, allocated purchase price among business assets, establish a formula for estimating the value of partners’ ownership interest for buy-sell agreements, and other business and legal purposes.

QUERY: But, what are the most common medical practice valuation blunders to avoid? Written over a decade ago, this white paper highlights the most common mistake still seen today.

WHITE PAPER: https://healthcarefinancials.files.wordpress.com/2011/12/medical-practice-valuation-blunders1.pdf

Your thoughts are appreciated.

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS

THANK YOU

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™

Physician Coaching – Next Generation

PHYSICIAN COACHING FOR PRACTICE MANAGEMENT & FINANCIAL PLANNING
Courtesy: https://lnkd.in/eBf-4vY
For Doctors – By Doctors – Confidential – Video Conference
WEB: https://lnkd.in/eVGcji5

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

HOSPITAL MANAGEMENT TEXTS FOR PHYSICIAN CXOs:
1 – https://lnkd.in/eEf-xEH
2 – https://lnkd.in/e2ZmewQ

DICTIONARY OF TERMS FOR THE BUSINESS OF MEDICINE
DHEF: https://lnkd.in/dqdbWM9
DHIMC: https://lnkd.in/e9AmEhd
DHITS: https://lnkd.in/eWx3WjZ

INVITATION: https://lnkd.in/d2SefCY
SPEAKING TOPIC LIST: https://lnkd.in/e7WrDj9
MY “AVATAR”: https://lnkd.in/d6BU-TQ

Thank You
***

The AJPH Continues

AJPH 
Dear Dr. David Marcinko,

 

This month, AJPH continues to publish and promote COVID-19 papers that discuss the impact of the pandemic on the future of public health. Please visit the compiled list of our COVID-19 articles. The July issue also focuses on topics related to abortion, misinformation and structural racism and redlining. Here are a few of the many articles in the July 2020 issue:

 

·  Podcast: COVID-19: Are We In This Pandemic All Together?

·  The Public Health We Need

· Public Health Perspective in the Times of COVID-19

· COVID-19: The First Post-Truth Pandemic

· Accurate Statistics on COVID-19 Are Essential for Policy Guidance and Decisions

· Producing Independent, Systematic Review Evidence: Cochrane’s Response to COVID-19

· Will There Be an Epidemic of Corollary Illnesses Linked to a COVID-19–Related Recession?

·  Teaching Public Health Will Never Be the Same

·  Abortion Trends in Georgia following Enactment of the 22-Week Gestational Age Limit

· Structural Racism, Historical Redlining, and Risk of Preterm Birth in New York City.

 

Also, as we maintain physical separation, check out the June issue of AJPH via e-Reader or Kindle. The mission of AJPH is to advance public health research, policy, practice and education. Toward that goal, the journal also produces monthly podcasts available in English, Spanish and Chinese at ajph.org. The monthly podcasts also are on iTunes and Google Play. Be on the lookout for more timely research from AJPH, and consider subscribing or becoming an APHA member for full access.

Stay safe,

 

 

Alfredo Morabia, MD, PhD

Editor-in-chief, AJPH

@AlfredoMorabia

@AMJPublicHealth

Medical Practice Scheduling Issues

FOR DOCTORS AND PATIENTS, ALIKE

By Dr. David E. Marcinko MBA

Doctor Scheduling Issues

Nothing creates more distress for a new medical practice administrator than “holes”, or empty slots, in a physician’s appointment schedule. While doctors may complain about too much work and not enough time with patients, a corollary is the lack of production that accompanies such downtime.

This scenario is common in January-February [patient insurance deductibles not paid] and August-September [new doctors join existing practices]. An increase in new doctor days, and marginal native practice growth, usually mean space in the daily schedule.

Now, the natural tendency is to try and fill the day. And, it is best if the day is filled by increasing patient services acuity levels. However, a common, but ill-advised approach is to add time to existing patient appointments. So, when a practice accepts a new medical provider, creation of a checklist similar to the one below may be helpful.

LIST:

  1. List appointment types and expected length.
    2. Use booking or scheduling secretarial templates.
    3. Review the templates with booking secretary then make sure they’re followed.
    4. Allow for walk-in or ‘urgent’ visits.
  2. Rather than having a policy of scheduling days or weeks ahead, ask patients if they’d like to come in the same day.
  3. Some physicians have moved to open-access appointments that eliminate traditional time slots altogether. This should be tested short-term before instituting since it is not effective in all markets.
  4. Know your area and know your patient base. If you have a high “no show” rate, you may want to pad in additional access by double-booking on the hour. Certain payers also have members with historically high “no show” rates that should be taken into consideration.
  5. Give yourself at least 60 days to credential the new provider (if they will be billing under your TIN). Otherwise, they may be seeing patients free of charge for some payers where credentialing is not yet completed. Limiting them to self-pay, work comp, non-covered services or patients whose payers have issued a provider number may pose some scheduling obstacles.

The danger of open appointment slots is adding inefficiencies to a schedule by the pressure to fill time. Instead, look at organic practice growth [5-8% annually for a mature practice], the change in provider time and have realistic expectations for open time-slots in the first few years of new practitioner availability [see http://waittimes.blogspot.com, Wait Time & Delayed Care; a blog devoted to helping healthcare providers shorten wait times and improve patient flow].

Patuient Scheduling Issues

Most mature doctors follow a linear (series-singular) time allocation strategy for scheduling patients (i.e., every 15 or 20 minutes).  This can create bottlenecks because of emergencies, late patients, traffic jams, absent office personal, paperwork delays, etc.  Therefore, as proposed by Dr. Neal Baum, a practicing urologist in New Orleans, one of these three newer scheduling approaches might prove more useful. 

 1. Customized Scheduling

The bottleneck problem may be reduced by trying to customize, estimate or project the time needed for the patient’s next office visit. For example:  CPT #99211 (5 minutes), #99212 (10 minutes), #99213 (15 minutes), #99214 (25 minutes), or #99215 (40 minutes). Occasionally, extra time is need, and can be accommodated, if the allocated times are not too tightly scheduled.   

2. Wave Scheduling

Some patient populations do not mind a brief 20-30 minute wait prior to seeing the doctor.  Wave scheduling assumes that no patient will wait longer than this time period, and that for every three patients; two will be on time and one will be late. This model begins by scheduling the three patients on the hour; and works like this. The first patient is seen on schedule, while the second and third wait for a few minutes.  The later two patients are booked at 20 minutes past the hour and one or both may wait a brief time. One patient is scheduled for 40 minutes past the hour. The doctor then has 20 minutes to finish with the last three patients and may then get back on schedule before the end of the hour. 

 3. Bundle Scheduling

Bundling involves scheduling like-patient activities in blocks of time to increase efficiency.  For example, schedule minor surgical checkups on Monday morning, immunizations on Tuesday afternoon, and routine physical examinations on Wednesday evening, or make Thursday kid’s day and Friday senior citizens day. Do not be too rigid, but by scheduling similar activities together, assembly-line efficiency is achieved without assembly line mentality, and allows you to develop the most economically profitable operational flow process possible for the office. 

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 Patient Self Scheduling (Internet Based Access Management) 

The traditional linear patient scheduling system is slowly being abandoned by modern medical practitioners; an all venues (medical practices, clinics, hospitals and various other healthcare entireties). New software programs, and internet cloud applications, allow patients to schedule their own appointments over the internet. The software allows solo or individual group physicians with a practice to set their own parameters of time, availability and even insurance plans. Through a series of interrogatories, the program confirms each appointment. When the patient arrives, a software tracker communicates with office staff and follows the patients from check-in, to procedures, to checkout. Today, many hospitals have even abandoned the check-in or admissions, department. It has been replaced by access management systems.

Automated Medical Office Access Management Systems [Patient Check-In Kiosks]

According to a McLean report published in InfoTech,

“Today’s patients demand the same level of self-service convenience in healthcare that they do in other industries. Medical kiosks save money, reduce wait times, and significantly enhance the patient experience. The payback period for medical kiosks is often as short as 180 days”

Automated medical office access management [AM] or patient self check-in solutions provide a wide range of functionality including patient registration, insurance verification, and demographic-validation, electronically consent form completion, back-end scheduling, financial systems integration, real-time appointment re-scheduling, direction text mapping and way finding; and more.  Often, solutions can be individualized and integrated with HIT systems using HL7, XML, web and other standard data exchange protocols.

Open Access Patient Scheduling

A sub variant of the above is open-access patient self-scheduling, either in full or part. Benefits include reduced patient appointment wait times, matching and scheduling patients with physician, improved continuity of care, increased productivity per patient visits, higher physician compensation and higher net gains for medical offices and clinics.

Real Time Claim Adjudication

Real Time Claim Adjudication [RTCA] or expecting payment at the time of service is becoming the rule, not the exception, in the modern AM era. RTCA makes a medical practice more like other businesses.

Benefit of Automated Medical Office Access Management

  • Streamlines patient flow with focus on improved patient care
  • Real-time insurance verification
  • Capture credit/debit card information with funds verification
  • Improves office cash flow and collections
  • Provides patient payment receipts
  • Decrease accounts receivable [ARs]
  • Save time and office staff resources
  • Increases office return on investment [ROI]
  • Demographic capture and validation improve marketing
  • Continually improve office operations.

Vendors for the above AM processes include: Phreesia.com, KioHealth.com, MediSolve.Ca; VecnaMedical.com; MeridianKiosks.com; AppointmentDesk.com; and KioskMarketPlace.com; etc.

***

Five people are sitting in the waiting room of a doctor’s office. Some of the people look tense or upset, and others look completely relaxed.

More: Simple Steps to a Patient Registry: Ticket to Care Coordination, Quality Reporting and Pay for Performance

LINK: http://store.hin.com/Simple-Steps-to-a-Patient-Registry-Ticket-to-Care-Coordination-Quality-Reporting-and-Pay-for-Performance_p_0-3855.html#

Assessment: Your thoughts are appreciated.

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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
****

US Health Administration Spending

CIRCA 2017 – Per Capita

[By staff reporters]

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On Medical Office Fire Drills and Training

Office Fire Drills

By Dr. David E. Marcinko MBA

Fire Drills should be performed at least annually and documented.

When first opening an office or when a new employee is brought onboard, staff need to be trained on the use of a fire extinguisher, location of the nearest fire extinguisher and location of alarm pull station (if any) on the first day. Training should be documented and placed in the employee file.

Generally speaking, a fire extinguisher is required every 75 feet in office space and be the appropriate type for the nature of business and equipment in use. Most offices use a multi-purpose ABC extinguisher that can be used on most types of fires.

The types of fires are listed below:

  • Class A fires are for ordinary combustible materials such as paper, wood, cardboard, and most plastics.
  • Class B fires involve flammable or combustible liquids (gasoline, kerosene, oil, and grease).
  • Class C fires are those caused by electrical equipment (wiring, appliances, and outlets).
  • Class D fires are chemical fires that involve combustible metals i.e. potassium, sodium, and magnesium.

EXTINGUISHERS

Carbon Dioxide (CO2) extinguishers can be used for class B and C fires. These extinguishers are highly pressurized and are best suited for electrical or computer equipment. They have an advantage over dry chemical extinguishers for this use since they do not leave damaging residue. However, they are not effective for Class A fires.

It is important to know which type of extinguisher is best for the office and equipment since using the wrong type can be critical in an emergency.

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THE EMERGENCY LIST:

At a minimum, a physician office should have a safety program that addresses the following in the event of an emergency:

  1. Written Program
  2. Emergency Notification Procedures
  3. Warning and Evacuations Process
  4. Evacuation Procedures
  5. Facility/Department Evaluation or site review
  6. Means of egress clearly marked (map posted with exit route and nearest exit)
  7. Emergency Action Plan
  8. Fire Prevention Plan
  9. Fire extinguisher location(s), types and use (P.A.S.S. Pull, Aim, Spray & Sweep)

If you are in an area susceptible to weather emergencies such as tornadoes, the emergency plan should address these as well.

Assessment: Your thoughts are appreciated

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An Interest Rate Review for Physician-Executives

Managerial Accounting

By Dr. David E. Marcinko MBA

Recently, several major banking institutions have addressed the problem of escalating debt upon graduating physicians, mid-life practitioners and even seasoned healthcare providers; despite historically low rates for prime customers.

Unfortunately, one may still wonder how many clinicians truly appreciate the risks associated with usurious interest rates for homes, cars, medical equipment and other consumer items; as we offer the following review to reduce this peril.

WHITE-PAPER: IRs

Assessment: Your thoughts are appreciated.

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

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Tell Us the Issues Affecting your Medical Practice, Clinic, Start-Up Wellness Center or Hospital

Join Our Mailing List

[By staff reporters]

Tell us about the issues affecting your medical practice, clinic, hospital, wellness center, or healthcare organization in 2020.

We are conducting a brief survey to learn more about the key issues affecting your healthcare entity, and how they impact your outlook for the coming year.

Just send in your thoughts on the survey form below.

 

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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Tips for the Medical Educator’s “Elevator Pitch”

On Medical Academic – Not Business – Planning

Courtesy: www.CertifiedMedicalPlanner.org

By Dr. David E. Marcinko MBA

We’ve written and opined about medical business entrepreneurs and business start-up plans; before:

MY ESSAY: https://medicalexecutivepost.com/2020/01/20/creating-a-medical-practice-business-plan-in-2020/

MY SCRIPT: https://healthcarefinancials.files.wordpress.com/2017/08/podcast.pdf

QUERY: But, did you ever wonder what to say when you’re standing next to a senior physician colleague who could help further your academic and educational work?

MOOCS: https://medicalexecutivepost.com/2018/09/25/moocs-are-you-an-i-t-educational-futurist/

FLIPPED CLASSROOM: https://medicalexecutivepost.com/2019/05/17/the-flipped-classroom/

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elevator

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Now, for some granular specificity; let’s cue the elevator pitch with David Acosta MD and Daniel Hashimoto MD MS who demonstrate what to do (and what not to do) to successfully deliver your medical educator’s elevator pitch.

PODCAST http://academicmedicineblog.org/tips-for-the-medical-educators-elevator-pitch/

Your thoughts are appreciated.

TEXTS FOR PHYSICIAN EXECUTIVES AND HOSPITAL CXOs:

1 – https://lnkd.in/eEf-xEH

2 – https://lnkd.in/e2ZmewQ

THANK YOU

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Historical Digital Health and Tele-Medicine?

Digital Health & Tele-Medicine are NOT 21st Century Concepts!

[via Igor Korolev DO, PhD]

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Fritz Kahn, a physician, author, and illustrator imagined the future of medicine nearly 100 years ago!

MORE: https://en.wikipedia.org/wiki/Fritz_Kahn

This 1926 illustration shows “The Doctor of the Future” providing patient care remotely using a telecommunication system & medical devices that track various physiological & health information (electrocardiogram – ECG, X-ray images, temperature, respiratory function, blood pressure).

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Conclusion: Your thoughts are appreciated.

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CAPITAL BUDGETING AND THE “PAY-BACK PERIOD”

MEDICAL CLINIC CAPITAL BUDGETING AND THE “PAY-BACK PERIOD”

Courtesy: www.CertifiedMedicalPlanner.org

By Dr. David E. Marcinko MBA

[A Cost Behavior Case Model for My B-School Students]

The Pay-Back Period refers to time required to recoup funds expended in an investment or reach the break-even point.

LINK: https://www.amazon.com/Dictionary-Health-Economics-Finance-Marcinko/dp/0826102549/ref=sr_1_6?ie=UTF8&s=books&qid=1254413315&sr=1-6

Joseph Spine DO wants to install a new large piece of Durable Medical Equipment in place of several smaller ones in his clinic. He will hire a therapist for the equipment and estimates incremental annual revenues and expenses below:

PRO-FORMA:

Revenues                           $10,000   

Less Variable Expenses       3,000

Contribution Margin              7,000

   Less Fixed Expenses

Insurance                             900

Salaries                              2,600

Depreciation                      1,500

5,000

NET INCOME:              $ 2,000

NOTE: Equipment parts are $15,000 for a 10-year life. The old machines sold for $1,000 salvage value. Dr. Spine requires a payback of 5 years or less.

QUERY: What is the pay-back period [dollars and years] and some key issues to consider?

CM SOLUTION: https://healthcarefinancials.files.wordpress.com/2013/09/managerial-costs.pdf

Your thoughts are appreciated.

THANK YOU

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The National Medical Association

Congratulations N.M.A

[By Dr. David E. Marcinko MBA]

On Black History Month https://www.nmanet.org

Did you know that Dr. Daniel Hale Williams founded the National Medical Association in 1895?

And so, we highlight Dr. Williams and more in the hashtag#BlackHistoryMonth blog post.

MORE: Read it now: http://ow.ly/Qh6R50yiCCl

Conclusion: Your thoughts and comments are appreciated.

BUSINESS, FINANCE AND INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

On Prior Authorization [PA]

A Physician Survey CIRCA: 2018

[By AMA]

DEFINITION: Prior authorization is a utilization management process used by some health insurance companies in the United States to determine if they will cover a prescribed procedure, service, or medication. The process is intended to act as a safety and cost-saving measure although it has received criticism from physicians for being costly and time-consuming.

LINK: https://www.amazon.com/Dictionary-Health-Insurance-Managed-Care/dp/0826149944/ref=sr_1_4?ie=UTF8&s=books&qid=1275315485&sr=1-4

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CREATING A MEDICAL PRACTICE BUSINESS PLAN IN 2021

CREATING A MEDICAL PRACTICE BUSINESS PLAN IN 2021

Courtesy: https://lnkd.in/eBf-4vY

[A Written Transcript on Launching Your New Business]

I was asked by medical colleagues – and their bankers, CPAs and advisors – to speak about this topic several times last year.

Now, with the specter of M-4-A etc; it certainly is a vital concern to all young doctors & medical professionals whether live, audio recorded or in podcast form. And so, here is a written transcript of a recent presentation for your review.

NOTE: As a teacher, writer, editor and publisher, I’ve found that the written word often surpasses oral presentations, in the long run, when it comes to granular understanding and practical knowledge.

TRANSCRIPT: https://lnkd.in/ezukUVB

Assessment: 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

Product DetailsProduct Details

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More on Physician “Burn-Out”

MORE ON PHYSICIAN “BURNOUT” TODAY

Courtesy: https://lnkd.in/eBf-4vY

Does it Really Exist? – Maybe Not!

According to the World Health Organization, occupational burnout is a syndrome linked to long-term, unresolved, work-related stress.

Since May 2019, the WHO stipulated that burnout must be understood as being specifically work-related; and result in symptoms such as “feelings of energy depletion or exhaustion; increased mental distance from one’s job, or feelings of negativism or cynicism related to one’s job; and reduced professional efficacy.”

LINK: https://lnkd.in/e9AmEhd

While burnout influences health and may be a reason for people contacting health services, it is not itself classified by the WHO as a valid medical condition.

QUERY: So, what about physician “burnout”? Real -OR- perceived?

ESSAY: https://lnkd.in/d7qcT-m

MORE: https://lnkd.in/eVkV83T

PODCAST: https://lnkd.in/en7KGh3

Assessment: Your thoughts are appreciated.

BUSINESS, FINANCE & INSURANCE TEXTS FOR DOCTORS:

1 – https://lnkd.in/ebWtzGg

2 – https://lnkd.in/ezkQMfR

3 – https://lnkd.in/ewJPTJs

THANK YOU

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Self-Ownership Doesn’t Exist?

Responding to an ‘Objectivist’s’ Claim That Self-Ownership Doesn’t Exist

By Dr. David E. Marcink MBA

I was fascinated with this podcast.

It was recorded by my neighbor and Austrian economist Peter Raymond over at “The Free Man Beyond the Wall” website.

PODCAST: http://freemanbeyondthewall.libsyn.com/episode-335

Your thoughts 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

***

Product DetailsProduct DetailsProduct Details

THANK YOU

 

ABOUT: e-Podiatry Consent Forms™

untitledhttp://www.ePodiatryConsentForms.com

By Dr. David Edward Marcinko MBBS DPM FACFAS MBA MEd

CUSTOMIZABLE CMS & AGENCY FOR HEALTHCARE RESEARCH AND QUALITY STYLED PROTOCOLS, CHECKLISTS AND TEMPLATES 

… Specifically for Podiatrists …    

e-Podiatry Consent Forms™ is an innovative new suite of software programs from the Institute of Medical Business Advisors [iMBA, Inc]. Our products solve your informed consent problems and enhance the education, discussion and documentation of the informed consent process for all podiatrists performing foot, ankle and leg reconstructive surgical procedures.

THE PROBLEM

All podiatrists are being pressured by the Centers for Medicare and Medicaid Services [CMS], the Joint Commission on Accreditation of Healthcare Organizations [JCAHO], liability carriers and private insurance payers to make their consent process more patient-friendly, informed and easily understood. And, the pressure to standardize and comply is great.

Most recently, based on the need to make healthcare even safer, the Agency for Healthcare Research and Quality (AHRQ) undertook a major study to identify patient safety issues and develop recommendations for “best practices”.

The AHRQ Evidence Report

The AHRQ report identified the challenge of addressing shortcomings such as missed, incomplete or not fully comprehended informed consent, as a significant patient safety issue and opportunity for improvement.

The authors of the AHRQ report hypothesized that better informed patients:

“are less likely to experience errors by acting as another layer of protection.”

And, the AHRQ study ranked a “more interactive informed consent process” among the top 11 practices supporting more widespread implementation; especially for surgical consent forms.

THE SOLUTION

Why Us: https://epodiatryconsentforms.com/why-us/

One answer to the modern risk-management problem of “informed consent interactivity” may be e-Podiatry Consent Forms™  We license two core interactive surgical products, and a reference library, with related concepts and products in development:

  • Forefoot, Mid-Foot and Simple Rear-Foot Version
  • Complex Rear-Foot, Ankle and Lower Leg Version
  • Comprehensive content library for extreme customization.

Each e-Podiatry Consent Forms™ CD-ROM [secure email delivery is now available] is increasingly trusted as the simple solution to standardized communications across the entire office-enterprise; from managing-risk, informing-patients and complying with modern regulatory requirements through enhanced patient-centric informed consent encounters.

Thus, by improving the consistency, details, documentation and effectiveness of the informed consent process, e-Podiatry Consent Forms™ equips all podiatric surgeons with the tools needed to augment quality standards, reduce litigation potential and improve patient outcomes and safety.

http://www.ePodiatryConsentForms.com

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U.S. Healthcare Workforce Density

Circa 2017

By http://www.MCOL.com

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Assessment: Your thoughts 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

“Giving Tuesday” and Pro Bono Medical Care?

For all Physicians and Medical Providers

[By Ann Miller RN MHA]

DID YOU PROVIDE PRO BONO MEDICAL CARE TODAY?

Giving Tuesday, often stylized as #GivingTuesday for the purposes of hashtag activism, refers to the Tuesday after U.S. Thanksgiving in the United States.

According to Wikipedia, it is a movement to create an international day of charitable giving at the beginning of the Christmas and holiday season. Giving Tuesday was initially started in 2011 and called Cyber Giving Monday and was the brain child of the non-profit Mary-Arrchie Theater Company and then Producing Director Carlo Lorenzo Garcia urging donors to take a different approach to filling up an online virtual cart with goods. The push was moved to Tuesday the following year as to not compete with Cyber Monday by the 92nd Street Y and the United Nations Foundation as a response to commercialization and consumerism in the post-Thanksgiving season (Black Friday and Cyber Monday).

The date range is November 27 to December 3, and is always five days after the holiday.

ESSAY: https://medicalexecutivepost.com/2007/11/26/pro-bone-medical-care/

VOTE: https://medicalexecutivepost.com/2019/05/18/are-you-providing-pro-bono-medical-care-a-voting-poll-and-survey/

Assessment: Your thoughts 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

Black Friday and the Physician Micro-Economy

Is it Good for Retailers … but Bad for Doctors and Consumers!

Join Our Mailing List

If Black Friday 2019 is anything like 2010, retailers are going to be swimming in cash while shoppers bathe in savings. Black Friday deals drew 212 million shoppers to stores in 2010 and collectively spent $39 billion on products and services.

And, the average amount spent by a Black Friday shopper in 2010 was a whopping $365.34.

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Assessment

We predict Black Friday 2019 sales will almost surpass all records with a slight increase over 2010 because of fewer shopping days.

But, is Black Friday good for the [healthcare] economics sector? Do patients go shopping rather than to the doctor?

Channel Surfing the ME-P

Have you visited our other topic channels? Established to facilitate idea exchange and link our community together, the value of these topics is dependent upon your input. Please take a minute to visit. And, to prevent that annoying spam, we ask that you register. It is fast, free and secure.

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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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

***

Healthcare in Non-Traditional Locations?

FY: 2018-2019

By http://www.MCOL.com

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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.

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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Severity and Price of ER Visits

Severity Level – 2017

By http://www.MCOL.com

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Conclusion: Your thoughts are appreciated.

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Of Pareto’s and Parkinson’s Law

The 2-Ps [80/20] Rule

[By staff reporters]

Pareto’s law is either of the following closely related ideas: Pareto principle or law of the vital few, stating that 80% of the effects come from 20% of the causes Pareto distribution

Pareto distribution

The Pareto distribution, named after the Italian civil engineer, economist, and sociologist Vilfredo Pareto, is a power law probability distribution that is used in description of social, scientific, geophysical, actuarial, and many other types of observable phenomena. en.wikipedia.org

Parkinson’s law

Originally, Parkinson’s law is the adage that “work expands so as to fill the time available for its completion”, and the title of a book which made it well-known.

Assessment

However, in current understanding, Parkinson’s law is a reference to the self-satisfying uncontrolled growth of the bureaucratic apparatus in an organization.

COMPARISON

Conclusion

Your thoughts are appreciated.

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8Risk 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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Invite Dr. Marcinko

Ten “Unusual” ICD-11 Codes

You May not Have Known

By http://www.MCOL.com

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MORE:

https://www.medicaleconomics.com/health-law-policy/20-bizarre-new-icd-10-codes

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Understanding the Next Generation of “Symptom-Checkers”?

Will SCs  become one of the killer applications in digital health?
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By Ralf Jahns [Berlin, Germany]
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Dear David and ME-P Readers,
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Next generation of symptom checkers are entering the healthcare market with the intention to disrupt the way health services are provided. Symptoms checkers have a chance to belong to the set of killer applications within digital health market next to telehealth, e-prescription and chronic health management solutions. Market potential differs significantly country per country and could go up as high as 8 Bn EUR p.a. Payer and pharma companies must hurry up to close partnership deals as prices go up quickly.
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Symptom Checkers
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There are hundreds of symptom checker solutions available in the market for long. Quite a few have gone out of business or changed their business model (e.g. Medlanes) due to having started too early in a market either using B2B or B2C business models. Over the last few years a new generation of symptom checkers have been launched. These tools are building on AI for data management and a chat bot functionality for user communication. They also expanded into other service areas not only concentrating on offering expertise medical diagnostic advice, but also allowing to search for a doctor, remote HCP consultations, or shopping features for over-the-counter medicines.

Symptoms checkers have the potential to belong to the solution suite that will open up the traditional healthcare system for digital health solutions, similar to telehealth or chronic patient’s self-management services. They not only allow patients to remotely 24/7 access advice on their symptoms but are more and more used also by HCPs to support their diagnosing process.

The following list of next generation of symptom checkers shows current ranges of services, reach and business models.

  • Ada Health – a free symptom checker exclusively available as a mobile app. The app provides symptom advice for more than 6,000 diseases. The ADA app has 6 million users and 10 million assessments completed, it’s available in 5 languages and ranked as #1 medical app in over 130 countries. The Berlin-based company employs 130 workers and over 40 doctors and medical editors.
  • Your.MD – symptom checker and health tracker. The app for diagnosis, partners with online medical service providers and refers its apps users to pharmacies, test centers, doctors’ offices or recommends other medical apps which are suitable for them.
  • Sensely – an app for pre-diagnosis, video doctor consultation, allows remote monitoring, links user with local medical services and self-care resources. Currently Sensely app is available by an access code from an employer/health plan.
  • Infermedica – Symptomate is a suite of web, mobile and voice apps that help patients assess their symptom when they feel sick. The solution covers 13 languages and is available in three major voice platforms: Amazon Alexa, Microsoft Cortana and Google Assistant. According to the company the audience includes mainly young adults and more than 55% of the users are aged 18 – 30. Some of the most commonly reported symptoms include headaches, back pains, mild abdominal pains and overall fatigue.
  • Ask NHS – Virtual Assistant” app (powered by Sensely). A virtual assistant named Olivia asks questions about the symptoms and suggests what the problem is. If needed, Olivia arranges a call back from a “111 nurse” to discuss the symptoms further. Patients can also search NHS approved healthcare advice, and schedule GP appointments.
  • Isabel is a similar solution to Ada or Symptomate. The end users are patients, but the company – Isabel Healthcare – also makes the APIs available to others to integrate the symptom checker into their own systems.
In general, market readiness seems to be more advanced in terms of payer and user willingness to use and pay compared to few years back. Also, symptoms checkers are now seen as tools which not only substitute or shorten HCP visits by remote, anonymous and free-of-charge health assessments, but which also enable patient activation tools for pharma companies and enhance products by tech-companies.
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Research2Guidance Cost Savings Potential Opportunity For Sympoms Checkers Vary Between 0,5 BN and 8 BN Euros

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Market potential is big. 400 million people especially in developing economies lack access to essential health services. The situation in developed economies is different. Shortage of doctors, especially in rural areas also exists but the problem that symptoms checkers could address is the large amount of doctor visits. In the USA alone there are around 1.3 Bn visits to GPs in a year. Japan has an even higher GP visit numbers as people tend to go 3 times more often to a doctor compared to their US counterparts.By reducing the number of HCP visits (here only GP visits are shown), symptom checkers promise to have a significant impact on healthcare costs within each country. Regardless whether 5% or 10% of GP visits will be made obsolete, the cost saving potential is enormous. In the US alone a 5% reduction would lead to annual cost savings of 8 Bn EUR! Second biggest market opportunities are in Japan with potential cost savings of 6 Bn EUR, followed by Germany and Canada (1 Bn EUR).

Not surprisingly payer organizations in western countries have started to offer symptoms checker solutions to their member base but also to HCPs. For example, Ada and German health insurer Techniker Krankenkasse(TK) are offering the symptoms checker in emergency rooms. Patients insured by TK might be asked to complete in a waiting room an assessment on Ada. Depending on the results, the patient may be redirected to a nurse or a doctor. In another trial run with a large NHS GP clinic, 14% of patients that completed an Ada assessment in the waiting room said that if they had used Ada at home, they would not have felt the need to come to see the doctor that day.”

Babylon a telehealth service also using symptoms checkers is now embedded into Samsung Health, which is available on millions of Samsung mobile devices in the UK and US, and has recently signed major partnership agreements with Tencent, Bupa and Prudential.

Companies wanting to enter the market should hurry up as development times of symptoms checkers are long and existing players are closing deals with payers and tech companies at high speed. Ada, for example, claims to have spent seven years to build up their database of symptoms and recommendations, while integrating more than 6.000 diseases linked to symptoms including 1,100 rare diseases curated by HCPs.

On the other side, payerspharmahospitals and tech companies that want to enrich their service offering with next generation of symptoms checkers are urged to start selection and further on integration process of next generation symptoms checkers as prices go up quickly and flexibility to incorporate specific change requests will go down with increasing success of symptoms checkers.

P.S. If you need any insights or quotes about the digital health, digital diabetes and / or the digital respiratory markets, please do not hesitate to contact me. I will be happy to provide you with reliable data and latest market insights.

[HOSPITAL OPERATIONS, ORGANIZATIONAL BEHAVIOR AND FINANCIAL MANAGEMENT COMPANION TEXTBOOK SET]

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On the Clinical Efficacy of the Apple Watch?

New Studies Seek to Define Clinical Efficacy

[By Catalyst @ Health 2.0]

Preliminary results from the Apple Heart Study show the potential health benefits of wearables. Researchers from the Stanford University School of Medicine partnered with Apple to conduct a virtual observational study with more than 400,000 participants. The study used the Apple Watch’s irregular rhythm notification (IRN) system to detect atrial fibrillation (AFib). The results showed 0.5% of participants received irregular rhythm notifications. For those who were notified, 21% received and wore an ECG patch. Of those, Afib was confirmed 34% of the time. The positive predictive value of the overall study was 71%, however, this increased to 84% for the subgroup who also used an ECG patch. It should be noted that the study has not yet been published in a peer-reviewed journal.

Johnson & Johnson’s HEARTLINE Study aims to build on the Apple Heart Study. Announced back in January, the virtual clinical trial will enroll 150,000 Americans 65 years and older to detect AFib and collect outcomes data. Participants will be randomized to either receive the Apple Watch 4 or no watch at all. Compared to the Apple Heart Study, one key technical design difference allows the HEARTLINE Study to draw a clearer connection between AFib observance and confirmation. Instead of waiting for an ECG patch to be mailed to the participant, the ECG app on the user’s Apple Watch 4 will be engaged once the “IRN software detects five out of six consecutive irregular rhythms each lasting one minute.” Both the IRN software and the ECG app are FDA cleared for AFib detection. Although the clinical efficacy of wearables is far from conclusive, the innovative use of virtual clinical trials will likely be commonplace in the future with the continued proliferation of consumer-driven health technologies.

Healthcare Executives Under Threat of Business Model Disruption

Healthcare executives are increasingly worried about business model disruption due to the influx of new entrants, processes, and technologies into the healthcare industry. According to Change Healthcare’s 9th Annual Industry Pulse Survey, 13.3% of 185 healthcare leaders believe that innovations in care delivery will lead to potential advancement within the industry and 11.1% believe that refinement of customer experience will create disruptive change. Other potential disruptors include supply chain innovations (9%), launch of vertical one-stop healthcare companies (8%), and advances in artificial capabilities (7%). However, the survey findings also suggest that healthcare leaders are increasingly embracing healthcare technologies. Thirty percent of leaders indicate that EHRs are their leading source of clinical data and another 30% of respondents say that analytics are “extremely effective” or “very effective” at increasing workflow productivity.

Health systems are also jumping into the digital age, with patients portals employed by 73% and telehealth solutions employed by 54% of all surveyed respondents. Twenty percent of respondents indicate they currently use machine learning and 51% plan to employ the technology in the future. Interestingly, the survey reveals a marked lack of attention toward cybersecurity. Even while 40% of healthcare leaders see cybercrime as a potential risk, 38% answered that there are “too many competing priorities” to warrant the level of attention that cybersecurity needs. Nevertheless, the threat of disruption has charged healthcare leaders to intensify its commitment to combating new market entrants.

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a1b52ded-7730-4995-b27a-8ac36e8bf1e4

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Assessment

Your thoughts are appreciated.

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Employer Healthcare Cost Management Techniques

On Medical Cost Containment

By http://www.MCOL.com

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Conclusion

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The Real Secret About Why Corporate Mergers Fail

AN AUDIO PRESENTATION

 

By Vitaliy Katsenelson CFA

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Corporate acquisitions often fail for one simple reason: the buyer pays too much. An old Wall Street adage comes to mind: Price is what you pay, value is what you get.

It all starts with a control premium

When we purchase shares of a stock, we pay a price that is within pennies of the last trade. When a company is acquired, the purchase price is negotiated during long dinners at fine restaurants and comes with a control premium that is higher than the latest stock quotation.

How much above?

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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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By Ann Miller RN MHA [Executive Director] MarcinkoAdvisors@msn.com

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National Dentist’s Day 2019

Sorry we Missed it. Mea Culpa!

[By staff reporters]

National Dentist’s Day was established to show appreciation and thanks for dentists and raise awareness of dentistry so that people will know more about caring for their teeth.

National Dentist’s Day falls on March 6th every year. It was established as a way to show appreciation and thanks for dentists. It’s also a way to bring awareness to dentistry so that people will know more about how to care for their teeth. It also encourages people who may have avoided going to the dentist to come in for a checkup.

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MORE: http://nationaldentistsday.com/

Assessment: Our thanks to colleague Darrell K. Pruitt DDS for the reminder.

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

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The Doctor Will “SEE” You Now!

OR … Not!

[By staff reporters]

A Medical Office Exam – FROM THIS EMR VISIT!

Your privacy is not protected.

We  use Electronic Health Records.

paper

[Courtesy Dr. DK Pruitt]

A Medical Office Exam – TO THIS PMR VISIT!

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Assessment

Beware – No medical specialty is immune! Which office visit style do you prefer? Are we “Back to the Future?”

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On Emerging Physician Professional Issues

A Growing Concern

[By MCOL.com]

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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.

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