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    As a former Dean and appointed Distinguished University Professor and Endowed Department Chair, Dr. David Edward Marcinko MBA was a NYSE broker and investment banker for a decade who was respected for his unique perspectives, balanced contrarian thinking and measured judgment to influence key decision makers in strategic education, health economics, finance, investing and public policy management.

    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.

    Later, Dr. Marcinko was a vital recruited BOD member of several innovative companies like Physicians Nexus, First Global Financial Advisors and the Physician Services Group Inc; as well as mentor and coach for Deloitte-Touche and other start-up firms in Silicon Valley, CA.

    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”.

    Marcinko is “ex-officio” and R&D Scholar-on-Sabbatical for iMBA, Inc. who was recently appointed to the MedBlob® [military encrypted medical data warehouse and health information exchange] Advisory Board.

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Off Road Christmas Touring with Dr. Marcinko

City Lights in Baltimore, Maryland

By Dr. David Edward Marcinko; MBA, CMP™

[Editor-in-Chief]

I stopped off in Baltimore, Maryland during the recent holidays to visit current clients, prospect for new ones, do a little public speaking and promote our book [Business of Medical Practice, third edition].

Link: www.BusinessofMedicalPractice.wordpress.com

Of course, we stopped by Johns Hopkins University where my sister worked, and promoted the Medical Executive-Post, as well.

Enter Christmas Street

And so, it was with great anticipation that we agreed with our host to visit Baltimore’s Christmas Street, in a section of the city known as Hampden. For 62 years, the residents of Baltimore’s 34th Street have drawn crowds from all over the world to view their display of Christmas lights.

Assessment

Crowd favorites are the motorized robot, the hubcap “Christmas tree”, and “snowmen” made from bicycle tires. The eaves of houses drip with strings of lights that illuminate Nativity scenes, while glowing candy canes light the sidewalks.

And, the hot chocolate and pizza, down the street at Angelo’s Restaurant, was especially delicious on any cold wintry night.

Video link: https://www.youtube.com/watch?v=hwk5N6qBx8Q

Channel Surfing

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.

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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 Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

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Sponsors Welcomed

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

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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

More:

Conclusion

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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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Modern Office Management Skills for Savvy Physicians

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“Learning” about The Business of Medical Practice in Modernity

By Ann Miller RN MHA

www.BusinessofMedicalPractice.com

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Medical Business Advisors

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LEXICONS: 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
ADVISORS: www.CertifiedMedicalPlanner.org
BLOG: www.MedicalExecutivePost.com

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Time-Line to Launching a New Medical Practice

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A New Practice Checklist

Dr. David Edward Marcinko MBA CMP™

www.BusinessofMedicalPractice.com

Dr. Marcinko at Emory UniversityIt is important to develop a general checklist that touches some of the most important issues in launching a traditional medical practice; or an extended medical service line.

Link: Chapter 04: Strategic Operations

Once the checklist or “to-do” list is completed, and practically it never will be, a time-line may be developed, accelerated, decelerated or modified depending on circumstances. Just think of it as an overlapping continuum rather than discrete steps using appropriate elements of the checklist below.

Time-Line Milestones to Office Launch

12 Months Out:

  • Determine your strategic competitive advantage
  • Obtain medical license
  • Craft a business plan
  • Secure capital funding and living expenses
  • Secure office location for professional, demographic or lifestyle reasons
  • Retain a practice management consultant, accountant, banker and attorney.

9-11 Months Out:

  • Retain and hire contractor, architect or remodeling firm and build out the office space
  • Obtain certificate of occupancy or appropriate permits
  • Incorporate the business [S Corp, LLC, PC, etc]
  • Obtain state and federal tax ID and EIN, DEA number, NPI, Medicare and Medicaid provider numbers, etc
  • Contact insurance companies for credentialing applications to become a contracted provider
  • Contact local medical professionals, hospitals and ASCs, etc.

7-8 Months Out:

  • Establish a benefit and retirement plan
  • Obtain insurance coverage [life insurance, malpractice insurance, disability and worker’s compensation coverage, etc]
  • Complete Medicare/Medicaid paperwork and from private and commercial insurance companies, hospitals, ASCs, etc.

5-6 Months Out:

  • Complete building out the office
  • Obtain furniture, office equipment, medical and administrative supplies
  • Evaluate and order computerized HIT and eHR systems
  • Begin insurance discussions and obtain policies from agent/broker/counselor

3-4 Months Out:

  • Policy / procedure manuals in place [OSHA, HIPAA, ADA, PA, etc]
  • Interview and start hiring staff, personnel and office manager [FT and PT]
  • Begin marketing and advertising [websites, blogs, yellow pages, TV, radio, etc]
  • Contact drug representatives
  • Retain a CPA, or similar accounting or payroll services professional
  • Secure traditional and electronic “new” yellow page ads
  • Rent a PO box and open a business savings and checking bank account
  • Get a business credit/debt card and unsecured line of credit [LOC], if possible.

1-2 Months Out:

  • Systems check [phone system, answering service, laundry, lawn care, janitorial and cleaning, security, collections, bookkeeping and payroll.
  • Contact clinical laboratory, biopsy, blood analysis, C&S services, etc
  • Contact and set up an account with a medical waste company (unless the landlord includes this in the lease or sub-lease)
  • Secure credit card or similar payment services
  • Prepare for MCO, HMO, CAQH credentialing and walk-thru’s, etc
  • Order office stationary, logos, business cards, etc.
  • Open house parties.

The Road Ahead for New Doctors

Impending Opening

Commence patient care.

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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A Guide to Patient Loyalty

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A Multi-Factorial Visual Approach

Link: Chapter 15: I-Doctors I-Patients

Many factors are involved when a patient has a good experience at a hospital, clinic or medical practice. One huge component in patient loyalty and satisfaction is the billing process.

This infographic colorfully shows what factors to consider in gaining and keeping loyal patients.

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patient loyalty

Source:  www.connance.com and www.BusinessofMedicalPractice.com

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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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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Your Private Medical Practice “Game-Plan”

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Assessment

Link: www.BusinessofMedicalPractice.com Online “live” Social Network Community

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.

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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

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

How Physicians Can Make the Patient Experience a Priority

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By Staff Reporters

Connection Makes the Difference – A Collaborative Shift in Bedside Manner?

Healthcare 2.0 is all about connecting. Take your pick: you can communicate via blogs, tweets, IMs, wikis, or social networks. And then, of course, you can opt for just plain old face-to-face dialogue.

The Communication Explosion

According to ME-P experts and Business of Medical Practice textbook contributors Mario Moussa PhD and Jennifer Tomasik MA, on the face of it, the explosion of communication options seems like a very good thing indeed.

www.BusinessofMedicalPractice.com

In the most basic ways, human beings need connection. Without the give and take of social interaction, our health suffers. In extreme situations—in solitary confinement or similar conditions—the brain almost completely shuts down.

What We Can Learn from Terry Anderson

The journalist Terry Anderson was held hostage in Lebanon from 1985 to 1992, enduring months at a time of almost complete isolation. In his memoir Den of Lions, Anderson described the catastrophic result: “The mind is a blank…. Where are all the things I learned, the books I read, the poems I memorized? There’s nothing there, just a formless, gray-black misery. My mind’s gone dead.”

The Link Between Social Connection and Good Health

On the positive side, studies have established a link between social connection and good health. (Even contact with people you dislike is better than having no contact at all). The same goes for the relationship between doctor and patient: data show that when the relationship is satisfying, it has tangible health benefits.

For example, when patients have a positive emotional connection with their doctors, they remember a higher percentage of care-related information and even experience significantly better physiological outcomes.

The Conversation

And the way doctors converse with patients—apart from the actual content of the conversations—has an equally powerful effect:

Do you want your patient’s nagging headaches to go away?

Discuss their expectations and feelings, in addition to the neurological facts. This is much more effective than sticking to the facts alone, since a strong psychological bond is strong medicine.

Do you want your medical advice to be followed?

Draw your patient into conversations about treatment. The research shows that engagement makes a difference.

Assessment

Is there an analogy here for financial advisors and medical management consultants?

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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