DAILY UPDATE: Dental Staffing, Various Companies & the Stock Markets

Posted on June 25, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

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Here’s where the major benchmarks ended:

  • The S&P 500 index lost 16.75 points (0.31%) to 5,447.87; the Dow Jones Industrial Average ($DJI) gained 260.88 points (0.67%) to 39,411.21; the NASDAQ Composite ($COMP) dropped 192.54 points (1.09%) to 17,496.82.
  • The 10-year Treasury note yield (TNX) fell one basis point to 4.25%.
  • The CBOE Volatility Index® (VIX) ended slightly up at 13.47, the highest close since May 30.

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

What’s up

What’s down

  • Nvidia dropped 6.68% as the semiconductor stock continues to fall, with the stock entering correction territory earlier today—a sentence we never thought we’d write.
  • Eli Lilly’s weight-loss drug Zepbound can also help people with sleep apnea, cutting into the sleep-aid market, sending shares of ResMed down 11.40% and Inspire Medical Systems down 16.45% on the news.
  • Bitcoin-connected stocks are taking a hit as the crypto selloff continues. Coinbase Global fell 6%, while MicroStrategy fell 7.52%.

CITE: https://tinyurl.com/2h47urt5

The dental industry—like other parts of healthcare—is facing significant staffing challenges. The US is in need of nearly 10,000 dental professionals and has more than 6,800 health professional shortage areas (HPSAs), which the US Department of Health and Human Services defines as “a geographic area, population, or facility with a shortage of primary care, dental, or mental health providers and services.”

CITE: https://tinyurl.com/tj8smmes

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A DENTAL INDUSTRY SECRET: No One Wants to Share!

Posted on June 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Darrell Pruitt DDS

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Ransomware is getting worse, not better.

One doesn’t see this in dental literature, but ransomware is not going away. It is getting worse. “Ransomware Victim Count Increased by 75% in 2023” By Steve Alder for The HIPAA Journal, Jun 4, 2024. https://www.hipaajournal.com/ransomware-victim-count-increased-by-75-in-2023/

A new report from the Google-owned cybersecurity firm Mandiant suggests several reasons for the increase in attacks. “First, there has been a resetting of the cybe rcriminal ecosystem after a tumultuous year in 2022, an influx of new actors conducting attacks, new partnerships between existing groups, and members of disrupted, prolific ransomware groups such as Conti starting up their own RaaS operations. While the attacks in 2023 largely followed the same patterns as the previous year, there were some notable changes with several groups trialing new tactics, techniques, and procedures.

For example, to increase the pressure on victims to pay, attacks on healthcare providers saw extortion demands issued to patients whose data were stolen, threatening to publish their medical data if they did not personally pay a ransom. The ALPHV group created a searchable database to make stolen data more accessible, and threats were issued to report attacks on publicly traded companies to the Securities and Exchange Commission (SEC).”

Imagine how ransomware would affect your practice if the extortion scheme bypassed you to directly threaten your patients – and blamed you for not paying the “reasonable” ransom demand.

COMMENTS APPRECIATED

Thank You

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