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Health Care Costs [Fixed and Variable]

Employers and “Brokers”

By staff reporters

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Revenue:

  • Anthem Revenue $104 Billion (2019)
  • Cigna Revenue $154 Billion (2019)
  • United Revenue $242 Billion (2019)
  • Aetna Revenues $69.6 Billion (2019)

CEO Salary:

  • Cigna CEO salary $18.9 million (2018)
  • United CEO salary $21.5 million (2018)
  • Aetna CEO salary $18.7 million (2017)

NOTE: The total annual healthcare spending in the US is over $3.6 trillion annually. Healthcare spending on administration: 73%. Percentage of healthcare spending on physician salary: less than 8%.

Assessment: Your thoughts are appreciated.

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Product DetailsProduct Details

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Tuition Costs V. Medical Care Costs V. Home Prices V. the CPI

In Picto-Graphic Form

[By staff reporters]

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Conclusion: Your thoughts are appreciated.

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Product DetailsProduct Details

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Food Insecurity and Healthcare Costs

InfoGraphic

By http://www.MCIL.com

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Product DetailsProduct DetailsProduct Details

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Direct Care V. Convenient Health Care Costs

A Sample Cost Comparative Analysis

By Anonymous

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Conclusion

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 Contact: MarcinkoAdvisors@msn.com

***

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WHY MEDICAL TREATMENT COSTS ARE BECOMING EXPENSIVE [25 Factors]

Are Doctors Responsible?

By Dr. Pankaj Kumar

Namaste!

The following features have led to increasing dependence on investors in the medical field which then has to run along the lines of an industry to ensure its financial viability.

For example:

1. Newer technology and rapid advances in newer innovations in medical fields for improvement in diagnostic and newer treatment modalities: If a hospital or doctor does not upgrade, it will be regarded as having obsolete technology. Most of these medical technologies are extremely expensive and owned and marketed by big multinational companies who sell them. Since cost involved is very high, there can be various types of deals involved between middlemen involved in selling and buying the equipment and technologies. Doctors are the end users of these technologies, but not part of business process. They are actually the consumers and users for these technologies.

2. Expensive real estate: A self made doctor at the start or even during his life time, does not have the kind of finances to build a hospital which needs a large parcel of land with commercial location. Therefore there is a need for big investment or investor to pitch in and invest funds. And if they invest, obviously they would look for some returns.

3. Equipping the Hospital: Building of hospital with the infrastructure and equipping it well needs lot of money and investment which only an investor can provide. Same is true for maintenance of equipment, bills, insurances, AMC etc.

4. Staffing of Hospital: A hospital needs lot of skilled human resources, health care being a highly labour intensive industry. Doctors , nurses, technicians, para medical, administrative and clerical staff is required. Employment of non medical in hospital industry too has been increasing because of various regulatory requirements and complex processes other than just treating patients.

5. High regulatory requirements: globally the requirements of regulatory authorities have been sky rocketing and it requires a lot of manpower to maintain such data. Getting accreditation etc are processes which requires manpower, time, and a legal team. All these legal requirements are expensive.

6. Consumer protection act: This single important factor can increase the cost of healthcare for the patient. As doctors are increasingly scared of being dragged to court, they are always on backfoot and are forced to do defensive practice. Investigations are required for documentation. Patient and courts will ask for proof and goes by documentation. Medical problems are very complex and sometimes it is difficult to judge the future course of disease or decisions for surgery, or how patient will behave before or after surgery. A doctor, thus, will always try to play safe legally in present scenarios. Because everything he does will be scrutinized later, with retrospective wisdom, by courts. And since doctors manage so many patients everyday, they never know which one will harass and deceive them later. Mistrust has increased to such an extent that patient relatives do not understand even if things are told in good faith and in patient’s interest. Summarily doctors have to safeguard themselves from treatment as well as legal and documentation hassles.

7. Expensive legal services: Every case that goes to court involves lawyers and their expensive fees. Most of the time even though the doctors may be right, he has to defend himself with the help of lawyers. Law industry has been benefitted enormously because of consumer protection act at the cost of doctors. Increasing mistrust and unhappiness in patient’s mind definitely does not help patients and doctors. Strangely doctor’s fee are quite low but lawyers charges them astronomical amounts, which are beyond any logic.

8. Increased expectation of patients: People want exceptional care, best in the world with best technology, that also at a price less than even a meal in restaurant, and then they want a quick relief!! This is an expectation almost impossible to fulfil. Even government hospitals, which are funded by taxayer’s money find it difficult to provide free treatment with quality.

9. Large claims given by courts: in a country where people fight with their parents, brothers and sisters for money and property, it will be naive to think that idea of making money from doctor does not exist. With court compensations going into crores, doctors can sense many times that some patient relatives try to use the opportunity. They have nothing at stake so they try to make some noise on social media and harass the doctor in court or on social platforms. Even for patients, who had poor prognosis at the very onset of treatment, relatives can create problems. Doctors have no protection from these nuisanse. All these factors further enhance insecurity in doctor’s mind.

10. Expensive and time consuming medical education, on sale: Although an open secret , as reported routinely in news, medical seats are big business. Each private medical college seat sells for huge money. Such doctors, who have purchased seats have already behaved as investors. Once these doctors are in practice, they will try to recover the investment. This can obviously push up the health care costs not to mention vitiation of the medical fraternity.

11. Requirement for maintaining huge data and audits: to maintain standards, to have accreditations, for medicolegal issues , large data storage, audits and surveillance is required. These systems also need new systems and manpower.

12. Employment of large numbers of non-medical personnel: earlier management work was handled by doctors. All senior doctors were given small and differnet departments of administrative work at very little or no extra cost. But now for all these works separate administrators are appointed. Now a days ratio of doctors to nondoctors is higher as compared to previous years. Increased regulatory and and insurance system needs more non- medical staff. But productivity of hospital still remains by doctor-patient interaction. This change in arrangement in Hospitals has caused increase in costs and hence pushed the health care expenses. Advantages and disadvangages of these changes in arrangement will be known with time in future.

13. Non regulation of businesses associated with large health care industry: for example pharma industry, suppliers , biomedical, equipments, consumables. Such individuals, although play important part in medicine, cost, sale and purchase, but are largely unregulated. Unlike doctors, who are regulated by multiple governing bodies. But doctors are often perceived as culprits for these costs escalation.

14. Increasing extinction of Single doctor and small setups: for them it will be difficult to keep pace with newer technology and buying expansive equipments. It will be difficult for them to manage requirements of new medical system, legal problems . At the most they will continue to provide cheap medical services, but for only common and simple ailments. It will be difficult to manage serious patients and sick and complex patients in view of high public expectations . These set ups are under severe security threat and pressure because of non – acceptance of even genuinine complications of treatment. As legal requirements increase, these systems will become unviable and option of common public for cheaper, friendly services may become extinct. So it will decrease the easy and sometimes last option of doctors to settle with a small set up. Chances of them to work for investors and insurance companies will increase, and they will be cheap labour for industry.

15. Medical and health Insurance becoming indispensible: Insurance companies are every where. They sell policies to patients , as well as doctors. In fact, they are positioned between doctor and patients. They make money from both sides. Obviously more expensive the treatment, more dependence on insurance. Therefore a cycle has been set up. Increase in insurance cost will push health care more expensive and a vicious cycle is set up. One should not be surprised, if in future treatment to a large extent will be dictated by insurance companies.

16. Conversion to a industry: Because of above reasons Medical and health care has become an industry and needs investors. So as it is business proposition. Funded by investors and run on commercial principles, the doctors are being slowly reduced to skilled labour, alienated from the core.

17. Aging, multiple diseases: as life expectancy is increasing, it is leading to multiple diseases and more complex diseases and new expensive treatments. In this changed scenario and all people want to prolong life as much as possible. Cost of prolonging life with multiple problems is quite high. It consumes more medication and resouces and hence consequently pushes up the cost of medical treatment.

18. Evolution of complex infections: Advent of antibiotics and germ theory was thought to be game changer in medical history. But because bacteria proved to be smarter than humans and acquired resistant. New and expensive antibiotics have been gradually being rendered useless. Need for more antibiotics is causing treatment to be costlier.

19. Evolution of advanced treatment: Invention of Expensive and new diagnostic techniques along with highly technical treatments by industry is not without added cost. Although it may be useful in certain patients, but how much it will help overall in masses, for general treatment, as it increases the cost of overall treatment.

20. Increasing need for heightened security: It is not uncommon to have mobs causing physical harms to medical workers and damaging hospital properties. These incidents have caused increased need for security for the premises and adding to the cost.

21. Complex interplay of various industries eg pharma industry and consumable industry: large number of consumables pharmaceuticals, sutures, surgical instruments, IT industry, drugs, implants, medical supplies are required. These industries supply their items on a price commanded by them and there is complex interplay of various industries.

22. Non uniform and variable care and cost: each city has multiple hospitals. Care and cost varies in every set up. Even all government set ups are not uniform in facilities and cost. Private setups vary in cost and care, to the extent of maximum possible variations. All this non-uniformity has created confusion in the mind of patients and variation in financial issues.

23. Poor public health care facilities: due to less expenditure on health care, government health care facilities have been under developed. Less investment by government has given way to private health care to flourish.

24: Conversion to a industry model and entry of investors: all the above investments are very expensive. Doctors usually do not have that much money to invest. Therefore Investors and financers have become indispensible part of health. once investor invests money, it will be driven on business principles.

25. Future course: I do not see in future that this arrangement is going to change , rather it will be strengthened more and more and quality care will become more costly. Doctors will be totally alienated from financial and business aspect, because industry will not be sustainable without an investor.

Assessment

As we look at reasons above, doctors are no where in the financial picture and to be blamed for increase in overall health cost. But, since only doctors are visible part of industry, who treat and interact with patients, often they are blamed for the cost. They have actually being alienated from financial aspect, barring small percentage of doctors, who are financially literate. Consequently, the doctors who will be unable to entrench themselves in the business milieu will be unfit in future and hence extinct.

Conclusion

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Contact: MarcinkoAdvisors@msn.com

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

Even More On Healthcare Costs

From 1999 – 2016

By BLS

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Conclusion

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Shoppable Healthcare Spending

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For the USA in 2011

By http://www.MCOL.com

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Conclusion

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Healthcare Costs for 7 Primary Care Consumer Markets

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Total Annual Spending / Per Capita

By http://www.MCOL.com

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More:

Conclusion

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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

Product DetailsProduct Details

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

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David Belk MD Announces New Website [True Cost of Healthcare.net]

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A Site Re-Design

belk[By David Belk MD]

Here’s the new website with a whole new look that’s been redesigned by Modern Creations: http://truecostofhealthcare.org

There are three new sections:

The first is a study of the prices of brand name medications. It shows that the price pharmacies in the US pay for brand name drugs have gone up an average of 40% in 2 1/2 years. That’s about 18 times the rate of inflation.

The other two new pages examine Medicare supplemental policies as well as Part D and Advantage programs:

The page on supplemental policies is an expansion of the blog I wrote 2 years ago on the subject. It answers just about any question you might have about what Medicare covers and how much you would expect to pay if you have Medicare and need medical treatment

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 David Belk, M.D., Announces New Website

hospital bills

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Assessment

Feel free to tell me what you think of it. Also, I’m sending this message from my new email address – truecostofhealthcare@gmail.com

Conclusion

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“Navigating a course where sound organizational management is intertwined with financial acumen requires a strategy designed by subject-matter experts. Fortunately, Financial Management Strategies for Hospital and Healthcare Organizations: Tools, Techniques, Checklists and Case Studies provides that blueprint”

 —David B. Nash MD MBA Jefferson Medical College, Thomas Jefferson University, PA

On Medical Inflation Rising [Managed Care vs Reference Based Pricing]

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Beating Medical Trends

[By William Rusteberg]

www.RiskManagers.us (click on WEBLOG)

Medical inflation continues to rise at a rate above the growth rate in the economy. Facing rate increases year after year, plan sponsors, with their financial backs to the wall, have historically resorted to cost shifting. These continued failed attempts to control costs have driven some to seek alternate means to restore pricing sanity to health care. To many, the cost of health insurance can mean the difference between profit and loss.

The Problem

Understanding the cost of health care is directly related to what we agree to pay, more and more employers are questioning managed care contracts upon which their health care costs are based. Many are discovering the truth for the first time. Secretive contracts between health care givers and third party intermediaries contain provisions that guarantee continuous and systematic cost increases. Shared savings side agreements and other schemes found in the health industry economic chain help fuel raging health insurance costs.

Known as medical trend, cost increases have proven to be consistent and predictable. The expected rise in the cost of medical services over time is expressed as an annual percentage increase and is an important element in underwriting future risk. Medical trend is a dominant cost driver in rate making. The annual compounding effect can double or triple health care costs in just a few years.

“For managed care plans, the medical care inflation part of trend is a function of the changes in provider reimbursement rates that are negotiated. To the extent that such negotiations entail factors such as outliers and provider bonuses, the trend rate may be materially more than simply the weighted average increase in fees.” Kevin Gabriel, MBA, FSA, MAAA, Chief Actuary of Sierra Berkshire Associates, Inc.

Photo of hands of businesspeople during discussing

Photo of hands of businesspeople during discussing

The Solution

Moving away from managed care contracts, more and more employers are embracing a myriad of reference based pricing models. These models can vary in scope and reach; however all share certain common characteristics in conformance with prudent business practices. Price transparency and claim benchmarking are key elements.

In 2007 – 2008 we approached several of our clients to suggest something different to control costs. The concept was simple. Eschew managed care contracts in lieu of claim benchmarking off multiple data points such as Medicare reimbursement rates. Removing managed care contracts, i.e, PPO, and paying providers quickly, fairly and directly had an immediate impact on claim costs.

After 15 months we performed a study by running 100% of claims back through the prior PPO network reimbursement rates. This exercise proved a net savings of 43% above and beyond the PPO discounts we would have otherwise experienced. Instead of doing the same thing year after year, our clients did something different and it worked.

It has been seven years since our first client exited the managed care world.  Subsequently more clients have embarked on the same journey, most with equally good results. None have returned to the world of managed care.

stock market

The Evidence

Skeptics may ask “How have your clients fared over time? Have they won the battle against medical trend?” The answer may be found by reviewing the experience of four of our clients who have been on a reference based pricing model for five years or more.

Our study is based on actual paid, mature medical claims through succeeding plan years starting in the first year on reference based pricing benchmarked off the prior year under a managed care plan. All claims above stop loss levels have been excluded.

This abbreviated analysis does not recognize changing demographics and plan changes. For example the leveraging effect of higher deductibles will increase trend factors. Of particular importance it should be noted that plan changes occurred in each case through improved benefits supported by claim savings. This study includes medical claims only.

One must understand that medical trend is just one of the factors used to calculate renewal rates for health plans and stop loss insurance. Each year carriers set their own trend level based on various factors, including the current health care inflation rate, analysts’ forecasts and their own experiences. However, our clients are self-funded and thus bear most risk with actual trend directly affecting costs without the benefit of pooling to any significant degree.

Over the past several years, trend rates have consistently run 8-10% nationally, though certain regions have seen significantly higher or lower figures. Prescription drug trends (which are a component of this) have been more volatile. In the early 2000’s these trends were above 15%. They then fell back to single digit levels. But they have now returned to the teens.” – Kevin Gabriel, MBA, FSA, MAA

In comparing our client’s experience with average medical trend, we relied upon Heffernan Benefit Advisory Services – 2013 Trend Report; Historical Trend Factors. Based on this report, we are using 9.615% as average annual medical only trend factor.

statistics

Political Subdivision – 400 Employee Lives

This case has been on RBP for 7 years. They experienced poor claim years in 2010 and 2012. In 2012, for example, there were 14 large claims that approached or exceeded $125,000. Medical PEPM for 2014 and 2015 (to date) is less than 2008. Benefits have been improved; no deductible or co-insurance features with all benefits subject to co-pays only. Funding increase over seven years has been 15.6% or 2.23% per year.

Beating Medical Trends

Public School District – 900 Employee Lives

This case has demonstrated a consistent downward claim trend. Current PEPM (2015) is less than 2008-2009. No benefit reductions. Some benefit improvements. Plan funding has remained essentially static for the past five years. 

Beating Medical Trends

Medical Industry – 280 Employee Lives

Plan year 2012-2013 experienced an outlier year with several large claims and 34 pregnancies. Current medical PEPM is 16% higher than under managed care plan in 2008-2009, representing a 2.66% increase per year (sans outliers). This illustrates that higher utilization and outlier claims will result in increasing cost which would occur under either managed care or RBP model. However, RBP trend factor continues below industry benchmarks. 

Beating Medical Trends

Retail Business – 818 Employee Lives

This case has consistently been well below medical trend. Current medical PEPM is significantly lower than plan year 2008-2009. This case has not raised plan contributions in seven years.

Beating Medical Trends

Conclusion

Managed care has failed. Medical costs continue to soar. Providers are charging more and we continue to agree to blindly pay up through secretive contracts negotiated by vested interests. Medical trend has, and continues to be, consistently at double digits or close to it.

Cost plus insurance / reference based pricing is a proven method to maintain and even improve comprehensive coverage while at the same time keeping costs reasonable, predictable and consistent. Industry sources estimate reference based pricing plans represent 10% market share and rising. An east coast hedge fund, seeking opportunities in reference based pricing models, predicts reference based pricing will gain 60% market share within the next five years.

“What moves things is innovation. But it’s not easy to innovate in stagnant, hyper-regulated, captured sectors” – Max Borders  (www.fee.org)  Cost shifting under the Affordable Care Act will continue to fail to control costs.

Reference Based Pricing represents the last frontier in innovation to control health care costs in a tightly regulated and controlled market.

Plan sponsors can reasonably expect to reduce their health care costs below medical trend without benefit reductions or cost shifting of any kind.

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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 Product DetailsProduct Details

“Navigating a course where sound organizational management is intertwined with financial acumen requires a strategy designed by subject-matter experts. Fortunately, Financial Management Strategies for Hospital and Healthcare Organizations: Tools, Techniques, Checklists and Case Studies provides that blueprint”

 —David B. Nash MD MBA Jefferson Medical College, Thomas Jefferson University, PA

State Employee Health Plan Expenditures

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Nebraska [2011-2013]

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Nebraska

Conclusion

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Does Health Care Contribute to Health?

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And … How much does it cost?

By staff reporters

As Ezra Klein noted, The Bipartisan Policy Center included this infographic in their report on obesity and its economic consequences (PDF).

health-infographic

Assessment

Is this graphic even accurate?

Conclusion

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Example Total Expenditures on Health

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International Per Capita Total Spending

By: http://www.MCOL.com

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costs

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More:

Conclusion

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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

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

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

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

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

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

Physician Advisors: www.CertifiedMedicalPlanner.org

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Why are Medical Bills so High [video]

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TIME’s Best Cover Story … Ever?
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TIME magazine just dedicated its current issue to just one article: “Bitter Pill: Why Medical Bills Are Killing Us.”
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The article, written by Time contributor Steven Brill, is required reading for all healthcare providers, administrators, legislators, patients — basically, everyone; especially readers of this ME-P.

The article is too comprehensive to summarize in one blurb, but Mr. Brill did a good job of describing its origins to Jon Stewart on The Daily Show.

Throughout all of the discussions during the Obamacare debate, the focus was usually on who should pay the medical bills.  Brill said, “We never asked the first question: Why are the bills so high?”

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Assessment

We wish we could say we thought of this, but it was Matt Yglesias who did.

Conclusion

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The Marcinko Method of Improving Quality while Reducing Medical Errors and Healthcare Costs

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Dr. David Edward Marcinko FACFAS MBA CMP

[Former – Certified Physician in Healthcare Quality]

[Former – Certified Financial Planner]

www.CertifiedMedicalPlanner.org

[Publisher-in-Chief]

THINK TWICE!

Doctor’s Orders

Life Corollaries:

Marcinko’s Rx for Obesity: Eat less – Exercise more – Avoid noxious lifestyles.

Marcinko’s Rx for Practice Success: Treat sick patients – Be humble – Keep faith.

Marcinko’s Rx for Financial Success: Spend less – Earn more – Be a fiduciary. 

Marcinko’s Rx for Wealth & Happiness: Don’t divorce – Love kids – Practice philanthropy.

Professional Medical Corollary:

The Choosing Wisely® list, which is aimed at cutting down on unnecessary testing by doctors and patients.

Assessment  

I am not an oracle. What else can you ad to the list?

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

Certified Medical Planner

The Best, Most Revealing Reporting on Our Healthcare System

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Reading and Reviewing

By Blair Hickman and Cora Currier

ProPublica,  March 30, 2012, 1:44 pm

As we wait for the Supreme Court to issue its verdict on the health-care reform law  we rounded up some of the most revealing reporting on the issues.

They’re grouped roughly into articles on high costs and those on insurance.

Assesment

Link: http://www.propublica.org/article/top-muckreads-the-best-most-revealing-reporting-on-our-healthcare-system

Conclusion

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

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

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

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

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

Physician Advisors: www.CertifiedMedicalPlanner.org

Hospitals & Healthcare Organizations: Management Strategies, Operational Techniques, Tools, Templates and Case Studies

Hospitals & Healthcare Organizations: Management Strategies, Operational Techniques, Tools, Templates and Case Studies

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About Costs of Care.Org

What it is – AND – How it Works?

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Costs of Care, a nonprofit 501(c)(3), is a social venture that helps doctors understand how the decisions they make impact what patients pay for care.

By harnessing social media, mobile applications, and other information technologies, they give doctors and patients the information needed to deflate medical bills.

Health Economics Factoid

“The cost of health care now causes a bankruptcy in America every thirty seconds.”

(President Obama to the 2009 Joint Session of Congress)

Essay Contest

Costs of Care will be launching an essay contest for 2011 after Labor Day, with $4,000 in prizes for the best anecdotes illustrating the importance of cost awareness in health care! www.costsofcare.org/essay

 

 

Assessment

And so, give em’ a click and tell us what you think http://www.costsofcare.org/  Better yet! Enter the essay contest and/or give a donation. It’s tax deductible.

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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The Cost of a Cared For-Nation

By Infographics

Courtesy Medical Billing and Coding

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There’s nothing cheap about medical care expenses. In fact, there’s only one constant when it comes to the price of healthcare and medical treatment: it’s expensive.

Now Just imagine picking up the tab for an entire nation. The price of Medical services are rising at a faster rate than any other service and far exceed the pace of inflation. The following graphic breaks down the most expensive medical procedures by cost and takes a closer look into the rising cost of healthcare in our country.

Assessment

Have you ever wondered which states pay the highest premiums or how much the average premium has gone up in recent years? Take a look to learn more.

 

Source: http://carrington.edu/cccblog/carrington-college-california-news/health-care-cost/

Conclusion

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Why Your Stitches Cost $1,500 [Part II]

InfoGraphics – Part 2

Courtesy Medical Billing and Coding

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The United States has fallen behind other nations, failing to provide affordable health care to its citizens. Americans spend $477 billion a year MORE on health care than other advanced countries.

So why do we pay so much compared to other wealthy nations?

Part 2 of 2 in a Series

This Infographic is part two in a two part series which dissects the state of our health care system and presents some alarming numbers.

Assessment

Link: http://www.medicalbillingandcoding.org/medicals-costs-2/

Part 1: https://medicalexecutivepost.com/2011/04/25/why-your-stitches-cost-1500/

Conclusion

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

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Congressional Budget Office Healthcare Reports of Interest

Ten [10] Aggregated CBO Reports

By Staff ReportersIntegration

Courtesy of Healthcare Town Hall:

 

 

 

 

 

Assessment

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Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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Get our Widget: Get this widget!

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Sponsors Welcomed

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Health Care Costs and the Domestic Budget

The Real Budget Defecit

[By Staff Reporters]

money1The Obama Administration has made comprehensive health insurance, and health care, reform a priority.

The goal is to transform the domestic health-care system so that it improves efficiencies, increases value and provides care for all citizens.

Current Situation

Recently, two important facts that all ME-P readers know, were re-confirmed:

  • Health-care costs are the key to the nation’s economic future.
  • The medical community agrees that great efficiencies are possible in how it is practiced.

Variations

It is well known that health-care costs vary across significant regions of the country, as well as hospitals and doctors within a region – even for patients with a same/similar diagnosis. This must end, according to the Director of the White House Office of Management and Budget [OMB]. Director Peter R. Orszag explained in a WSJ interview below, that practice variation is unnecessary and wasteful, and that evidence-based-medical practices and comparative-effectiveness-research is a good idea for all healthcare stakeholders.

The Baucus-Grassley Policy Options for Expanding Healthcare Coverage report is also included for your review and commentary.

Two New Reports

Wall Street Journal on May 15, 2009.

1. Link http://online.wsj.com/article/SB124234365947221489.html

2. Link: http://finance.senate.gov/press/Bpress/2009press/prb051109.pdf

Assessment

Once accomplished, it is hope that the nation will be on a sustainable fiscal path that builds a new foundation for our economy for generations to come.

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to 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 Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com  or Bio: www.stpub.com/pubs/authors/MARCINKO.htm

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