The 2008 Financial Crisis -OR- Ponzi Scheme?

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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]]> http://medicalexecutivepost.com/2012/02/10/too-big-to-fail/feed/ 0 Editors Join Our Mailing List TooBigToFail Product Details Product Details Product Details http://medicalexecutivepost.com/2012/02/09/are-financial-advisors-professionals-or-employee-sales-representatives/ http://medicalexecutivepost.com/2012/02/09/are-financial-advisors-professionals-or-employee-sales-representatives/#comments Thu, 09 Feb 2012 13:33:06 +0000 Editors http://healthcarefinancials.wordpress.com/?p=36998 ]]>  

White House Sides With Sales Reps On Overtime

Dr. David Edward Marcinko MBA CMP™

[ME-P Editor-in-Chief]

www.CertifiedMedicalPlanner.com

As the US Supreme Court is preparing to review the contentious debate about overtime pay for sales reps, the US Solicitor General has filed an amicus curaie, or friend of the court brief, and sided with pharma reps. The move is not surprising, given that the US Department of Labor has, several times, taken a similar step in federal courts around the country where cases were heard.

Far Reaching Implications?

The review is expected to have far-reaching implications for the pharmaceutical industry, and I believe the financial services industry, as well. Why?

Both sectors have been fighting a growing number of cases nationwide over the past several years, but has had mixed results as the issue has continually divided the courts. At the same time, drug makers, Wall Street and broker-dealers have been laying off thousands of sales reps – “financial advisors”, “wealth managers” and stock brokers – as they try to cut costs and alter their business models to prepare for some level of fiduciary accountability.

The Issue

At issue is whether drug reps, and FAs by extension, are exempt from overtime provisions of the Fair Labor Standards Act. The FLSA overtime compensation requirement does not apply to employees who work as outside salespeople, but the law does require employers to pay overtime for hours worked beyond 40 hours a week, unless a FLSA exemption applies.

Link: http://www.pharmalot.com/2012/02/white-house-sides-with-sales-reps-on-overtime/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Pharmalot+%28Pharmalot%29

My Issue

And so, does this mean that most “financial advisors” are really stock-brokers and product pushers after all? At least in medicine, we doctors know what a pharmaceutical rep is – and we understand his/ her roll is to push pharma products, DME and drug sales.

Shouldn’t a salesman – be a salesman – and an “advisor” – be an RIA or RIA rep? I don’t often agree with the White House, but I do on this one.

Assessment

Now, isn’t it time for the public to know that the vast majority of FAs are just salesmen [still SBs], too? Just selling retail financial products to doctors and others; not drugs. After all, FAs can’t be independent client advocates – and employees – at the same time.  And, it appears with this potential filing and ruling; that they truly wish to be the later. Now FAs, admit it!

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Why do you think FAs are licensed as “registered representatives”? Rarely; a fiduciary among them!

Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

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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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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and their Advisors

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According to Practice Fusion

Sponsored by: www.CertifiedMedicalPlanner.com

By Hope R. Hetico RN MHA [Managing Editor]

This is my second interview with ME-P Founder and Publisher-in-Chief, David Edward Marcinko. Our first formal interview was during the Thanksgiving weekend of 2007. I caught up with him recently on client engagements, in Chicago, Illinois.

And, while he may not always be right; he is never equivocal with his opinions, and is always passionate about them.

HETICO: Well, David, what have you been up to since our last interview?

MARCINKO: The usual; writing, editing, teaching, speaking, consulting engagements and servicing private clients. All noted on this blog forum, of course.

HETICO: So, refresh our readers, and tell us a little bit about yourself

MARCINKO: A doctor, surgeon, and bone and joint lower extremity specialist by training, I took down my medical shingle in 2000 and sold my ASC to become a full-time health 2.0 consultant that never looked back. I’ve also got an MBA degree in marketing and micro-economics, and was a registered BD representative, RIA rep, insurance agent, Series #7, #63 and #65 licensee and, certified financial planner for almost 15 years before eschewing them all. I then started the www.CertifiedMedicalPlanner.com online educational and certification program for physician focused financial advisors and fiduciary medical management consultants. My CV, fingerprints and DNA, are all over this e-publication.

HETICO: So, back on point. What is your investment style and where do you see market opportunities today?

MARCINKO: I am a non-conformist and contrarian by nature; when others zig; I zag. I use ETFs and index funds, and as a strategic investor have a personal ten-year time line, at least. I like cash-on-hand, too.

HETICO: I know you like international investing; when did this proclivity start.

MARCINKO: I did very well investing in long term Federal and state municipal bonds back in the early 1980’s. This was against the investment advice of everyone I spoke to at the time; except my mother – a banker. Interest rates were sky-high, so listening to her was a no-brainer. I then saw an international opportunity right after the Asian contagion crisis back in 1997-98. I lost a bit with Japan, but more than made up most everywhere else. I’m still underweighted in the US, and must admit, I missed the bottom-feeder boat domestically back during the flash-crash of 2008.

HETICO: How have your international products changed over time?

MARCINKO: I used ADRs and index funds, at first, mostly Vanguard. But, I moved to ETFs as they emerged. I stay away from individual foreign or international stocks

HETICO: What kind of foreign assets do you prefer?

MARCINKO: Equities strictly; no foreign bonds or currencies.

HETICO: What about gold?

MARCINKO: Nope, missed the run-up, but I hate commodities based solely on the supple-demand curve.

HETICO: What parts of the world do you see as hot investing opportunities, right now?

MARCINKO: The Middle-East, and Singapore which provide higher dividend returns than most US equities. I’m patiently waiting for Europe to implode.

HETICO: What kind of research do you do?

MARCINKO: I read everything written and online, but try to follow the massive macro-economic trends and demographics. For example, now is not the time to invest in US bonds as IRs are near historical lows, and cannot go much further, I think.

HETICO: Any other domestic opportunities?

MARCINKO: Not that I can see. Horde cash! Maybe domestic equity based REITs with the real estate lows.

HETICO: How often do you adjust your portfolio?

MARCINKO: Every 3-5 years I might buy if the opportunity [screams] presents itself. Generally, we never sell.

HETICO: Do you believe in asset allocation and balanced investment portfolios?

MARCINKO: No. It is the surest way I know to mediocre returns.

HETICO: Do you believe in dollar cost averaging?

MARCINKO: No, it is a theoretical artifice – merely a mechanism to “keep you in the game” so that mutual fund companies, SBs and BDs, RIAs, IAs and FAs can earn commissions, trails, 12b-1 fees and/or AUM percentage revenues, etc. It gets and keeps [your] money rolling into their coffers. And,  it smooths out their cash flow. Remember, DCA is a no brainer – and it is fit for those with no brains.

HETICO: What is your forecast for 2012?

MARCINKO: I’m with Bill Gross, who runs the world’s biggest bond fund at PIMCO, and thinks the global economy and financial markets are at risk in 2012.

HETICO: If you and Bill are correct, what will you do?

MARCINKO: Yawn!

HETICO: Who is your favorite health economist?

MARCINKO: Noble prize winner Ken Arrow PhD, of course. He is the god-father of the industry.

HETICO: Where do you see yourself in 5 or 10 years; or thereafter?

MARCINKO: Well, in five years my daughter will be out of college. In ten years, I see myself doing the same things I do now. And, I just love my engaged clients at: www.MedicalBusinessAdvisors.com Then, perhaps some private philanthropy work.

HETICO: Who is your financial investing hero?

MARCINKO: My colleague and former hedge fund manager Mike Burry, MD.

Link: http://medicalexecutivepost.com/2010/03/24/video-on-hedge-fund-manager-michael-burry-md/

Assessment

Thank you; David!

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Is Dr. Marcinko correct; what do you think about his style and candor? Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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

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---

Awareness and Philanthropy Needed

We wish there were a huge philanthropy organization focused on Domestic Violence. Why?

DV is as much a killer as is cancer or diabetes or sepsis. What’s worse: it’s a primary root in violence at large – it breeds dictators, influences foreign policies, and mutilates childhood development. And, we wonder about it’s relatonship, if any, to medical workplace violence and abusive physician behavior as we’ve written about previously on this ME-P?

http://medicalexecutivepost.com/2011/04/06/medical-workplace-violence-prevention-guidelines/

Some would even argue that Domestic Violence is one of the largest Public Relations opportunity of all time. And, if you don’t understand what we mean, we’ve proven our point.

Assessment

So, what is the solution to domestic civilian and medical workplace violence?

If you a victim of  Domestic Violence, click here

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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

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Blurring Personal and Professional Lives

Social media is becoming increasingly more prevalent within the healthcare industry.

But, with more hospitals and doctors joining social-media platforms on a consistent basis, it begs the question of “helpful or harmful”?

Assessment

One thing is certain: clear parameters must be established, so professional and personal lines don’t become blurred.

Source: powerdms.com

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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

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Island in the Mediterranean Sea – South of Sicily (Italy)

By Dr. David Edward Marcinko MBA CMP™

[Editor-in-Chief]

OK; I’ve written about hedge funds before, on this ME-P and in our www.MedicalBusinessAdvisors.com print publications for various textbooks, handbooks, white papers and journal. And, we discuss the concept in our online educational www.CertifiedMedicalPlanner.com program, as well. Some medical professionals love them, and some financial advisors use them in their work; others do not.

Of course, I’ve written frequently about my colleague – the now retired and newly anointed philanthropist  and uber-hedge fund manager Mike Burry MD; ad nauseam.

Link: http://medicalexecutivepost.com/2010/03/24/video-on-hedge-fund-manager-michael-burry-md/

But, now there is a new wrinkle on the island that I first visited about ten years ago, while on a working vacation

Rising Visibility

Malta–yes, Malta–has quietly leveraged the rising transparency imperative to attract hedge funds. There was a time when the quaint island sought to play on the traditional terrain, offering anonymity and a “laissez-faire regulatory regime,” not to mention very low taxes, as in no capital gains taxes and no taxes on dividends; all while English speaking and USD currency denominated.

Maybe back then, no more today, if this essay is to be believed.

Link: http://www.bloomberg.com/news/2012-01-05/malta-lures-connecticut-hedge-funds-with-300-days-of-sun-aided-by-eu-rules.html

Why Malta?

Link: http://www.firstgozo.com/maltafacts.htm

Assessment

While many leading domiciles for offshore hedge funds remain in the Caribbean–notably the Cayman Islands, the British Virgin Islands, Bermuda, and the Bahamas–the island of Mata is drawing attention, especially from European funds.

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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All Under Age 30

Here’s an infographic which highlights nine entrepreneurs who made it big pretty early.

Mark Zuckerberg – who at age 27 has an estimated personal net worth of $17.5 billion as Facebook goes public – tops the list; followed by Groupon founder Andrew Mason ($1.3 billion) and Firefox founder Blake Ross ($150 million).

Assessment

No physicians, financial advisors or medical management consultants here.

Source: hrblock.com

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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Credit Cards Can Protect ME-P Football Fans

Beware of ticket, travel and counterfeit merchandise scams and use your good judgment and plastic to protect yourself from fraud.

Source: www.CreditDonkey.com

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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

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My Opinion of eDRs and eDR  Vendors

By D. Kellus Pruitt DDS

Don’t cooperate with those you don’t trust, Doc.

eDR Stakeholders

If you allow Dentrix, the W. K. Kellogg Foundation, the ADA and other ambitious EDR stakeholders talk you into switching from paper dental records to digital before 2014, it will be the most regrettable business decision you have ever made.

PHI Breaches

Regardless if a data breach of your patients’ Protected Health Information (PHI) is your fault or not, it can easily cause bankruptcy, and the odds aren’t in your favor. According to a recent Redspin study, the number of breaches doubled between 2010 and 2011. (See “Health data breaches up 97% in 2011” by Diana Manos in Healthcare IT News, February 1, 2012).

http://www.healthcareitnews.com/news/health-data-breaches-97-percent-2011

Procrastination and Late Adopters

So even if unlike Americans who enjoy freedom, professionalism keeps you from publicly expressing an opinion, there’s never been a better time to drag your feet in our usual way. Besides, what have you got to lose by waiting? If consumers prefer EDRs, don’t you think we would see dentists touting their safety in their ads?

RedSpin

Daniel W. Berger, President and CEO of Redspin, is quoted in Diana Manos’ article: “Information security breach is the Achilles’ heel of PHI. Without further protective measures, data breaches will continue to increase and could derail the implementation, adoption and usage of electronic health records.” So why allow selfish EDR stakeholders who cannot be held accountable for harming your patients rush you into buying their favorite technology?

Note that the ineffective “further protective measures” will make EDRs even more expensive compared to paper dental records – allowing paper dentists to charge less than paperless practices, while still making more profit. Indeed, Doc. What have you got to lose by waiting?

Over the last 6 years, virtually all of my predictions about HIPAA have been right, and following the recent Redspin report, I feel even stronger about this one: The national failure of HIPAA will become noticeable in dentistry first.

OCR Culture

Not only is the Rule ineffective at protecting dental patients’ identities, but the tedious, mostly worthless compliancy requirements are so unreasonably time consuming and costly that no dentist can ever be 100% compliant. What’s more, eager HIPAA auditors working on commission to enforce the Office of Civil Rights’ “culture of compliance,” can find a dentist “willfully negligent.” Is that not subjective? The fines for such an auditor’s opinion are obscene. If you unfortunately experience a data breach, you don’t want to lose even more sleep over an audit that you cannot win, do you? Dentists don’t have to take this.

Dentistry Is Billing Simple

Unlike the complex administrative tasks in physicians’ offices, the business of dentistry is simple: Billing involves ten times fewer patients and CDT codes cover fees for procedures only involving the lower third of patients’ faces. Ledger cards, pegboards and lots of carbon paper have functioned adequately and safely for busy dental practices for decades. Besides, computers still haven’t shortened the time it takes to do a technique-sensitive filling in a squirmy kid’s mouth. If the front desk is the bottleneck rather than the speed of the dentist’s hands, someone needs to brush up on their alphabet skills.

If you think you might miss your computer, now is a perfect time to encourage dentistry’s leaders to consider de-identifying EDRs… Or if like me, you aren’t a HIPAA covered entity, we could wait a little longer if you’d like. Within a year, Americans will be noticeably seeking dentists who don’t put their PHI on computers.

Assessment

The hope for miracle discoveries derived from safely data-mining interoperable dental data doesn’t have to end like this, but I certainly don’t mind the windfall profits that expensive HIPAA regulations and patients’ fear of identity theft will bring to my practice.

Conclusion

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

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

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

Our Other Print Books and Related Information Sources:

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

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

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

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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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

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

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Ann Miller RN MHA

[Managing Editor]

]]> http://medicalexecutivepost.com/2012/02/04/about-premium-link-advertising-on-the-me-p/feed/ 2 Editors A Doctor's Risky Life Product Details Product Details Product Details Product Details Product Details Product Details http://medicalexecutivepost.com/2012/02/03/the-healthcare-industrys-unrecognized-cancer/ http://medicalexecutivepost.com/2012/02/03/the-healthcare-industrys-unrecognized-cancer/#comments Fri, 03 Feb 2012 13:33:39 +0000 Editors http://healthcarefinancials.wordpress.com/?p=36668 ]]> The Untreated Cancer of Health Informatics Leads to Painful and Unrestrained Growth

By D. Kellus Pruitt DDS

A few days ago, Daniel Palestrant MD, Founder of par8o & SERMO, compared the American healthcare system to a patient with cancer.

The clinically blunt article includes a graphic photo of a fresh tumor the size of a cantaloupe, labeled “AMA.” It is appropriately titled, “I Know Cancer When I See It.”

I believe him. What’s more, Dr. Palestrant shows no respect for cancerous growth in healthcare. That’s Hippocratic cool.

http://par8o.com/wordpress/i-know-cancer-when-i-see-it/

I think we all know which presidential candidate’s think tank is to blame for selfishly stimulating metastasis of their harmful information. Like the American Medical Association, the ADA unwittingly developed informatics cancer years ago. Now, a similar, energy-sapping tumor is becoming increasingly difficult for stoic ADA officials to quietly schlepp around.

My Dental Analogy

If one replaces every mention of “AMA” in Dr. Palestrant’s excerpt below with “ADA,” every “CPT® code” with “CDT® code” and every “physician” with “dentist,” his analogy becomes strikingly similar to one I wore out long ago, but without an ugly photo (My apology to Dr. Palestrant):

1. Divert resources – The ADA’s CDT system creates a maze of payment infrastructure and rules that diverts resources to administration and makes transparency impossible.

2. Fool the immune system – The ADA has fooled the American public into believing they represent the opinion of America’s dentists.

3. Self perpetuate – Like a cancer, the ADA perpetuates itself through special interest lobbying, and most importantly, by updating the CDT codes as frequently as possible and forcing the entire dentalcare system to use them.

Assessment

If it weren’t for CDT® copyright royalties, ADA members’ dues would double – undoubtedly causing members to naturally demand better accountability to their patients’ welfare instead of HIT goals even Newt Gingrich abandoned a few months ago.

He’s a smart politician – arguably smarter than dentistry’s embarrassed leaders who own autographed photos of him.

Conclusion

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

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

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Healthcare Organizations: www.HealthcareFinancials.com

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It all Depends

Financial advisors know that many clients avoid thinking about what happens to their debt after they die. Understanding what type of debt you have is important because your debts may or may not pass on to other people after you die.

Talking to a financial planner or bankruptcy lawyer may help you prepare and avoid problems for what may happen to your debts after your death.

Assessment

Check out the above visual guide of What Happens to Your Debt after You Die.

Source: totalbankruptcy.com

Conclusion

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

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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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By Children’s Home Society of Florida Foundation

In his State of the Union Address last week, President Obama included several tax proposals. He stated his hope that high-income earners pay larger taxes in the future. The President also proposed a substantial number of major tax changes for businesses with international operations.

White House Examples

For example, he restated the “Buffet rule” that asks high income individuals to pay at least as high a rate as that paid by middle-income earners. The President noted, “Right now, because of loopholes and shelters in the Tax Code, a quarter of all millionaires pay lower tax rates than millions of middle-class households.”

The White House also proposed that those with incomes over $1 million pay a minimum tax rate of 30%. Taxpayers with incomes over $1 million will have new limits on deductions for mortgage interest, healthcare expenses, qualified retirement plan contributions and childcare.

The Proposals

Many of the proposals for businesses were outlined in a White House press release on January 25th 2012. These major changes are designed to encourage U.S. companies to maintain their U.S. operations and increase employment here rather than overseas:

1. Overseas Plants – There would not be deductions for moving plants overseas. In addition, there would be a 20% tax credit against the cost of moving jobs from overseas back to the United States.

2. Manufacturing – Those manufacturers who purchase equipment would be able to expense 100% of those purchases. This option also existed in prior years and is expected to encourage building factories in the U.S. rather than abroad.

3. Major Job Losses – Areas that have experienced a closing of a military base or a major factory could qualify for a new investment credit of up to $2 billion. This credit creates incentives for building new plants or factories in depressed areas.

4. Minimum Tax – Corporations could be subject to a new minimum tax on their overseas jobs and profits.

Conclusion

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

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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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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Events-Planner: FEBRUAY 2012

By Staff Writers

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

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

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

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

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

• February 01-04: TD Conference, Orlando, FLA.
• February 05-08: Rural Health Care Conference, Phoenix, AZ
• February 15-17: NAPFA Exchange, Weston, FLA.
• February 27-28: Population Health and Care Co-Ordination, Philadelphia, PA.

Please send in your meetings and dates for listing in the next issue of our Events-Planner.

MarcinkoAdvisors@msn.com

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

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A Recent E-mail that I Received

By Dr. David Edward Marcinko MBA, CMP™

www.CertifiedMedicalPlanner.com

[Editor-in-Chief]

As a former certified financial planner for almost 15 years, I was surprised to recently receive the following unedited e-mail correspondence.

Dear Marcinko,

If you are clever, have a way with people, or are a born salesperson, then becoming financial advisor could be your ticket to paradise.

Maybe not exactly paradise, but you could definitely have a ticket to a rewarding career. If you’re thinking about starting out as a new financial advisor – you may already be half the way there.

Why?

Because it’s an occupation where your life challenges will give you the understanding and empathy needed to work with your clients. Have you ever been in the position where you had to figure out a budget for your children’s education? Or manage an over extended credit card? These life situations will aid an individual on the path to become a financial consultant.

Requirements to Be a Financial Advisor

Even though a formal education is not a necessity to become financial adviser, it helps if you’ve taken certain courses.

What degree do you need to become a financial advisor? A bachelor’s degree in Finance, Economics, Accounting, Commerce, Business or Marketing would be a good start. A degree won’t assure you of a startling career but it may help get your foot in the door.

Rumor has it that a degree in psychology is also an asset as financial advising is as much about counseling as it is about advising. There are a plethora of people with all sorts of emotional entanglements around their financial lives.

Licenses

So, what licenses do you need to be a financial advisor? Some companies will assist a newbie in the financial advisory business and place them into a special program that will help them to obtain the required regulatory licenses such as a Series 66, this license permits them to vend annuities and mutual funds. It’s also possible to manage your own training. You can take part-time courses in order to qualify for the CFP (Certified Financial Planner) exam.

There are roughly over 286 universities and colleges that will assist you in preparing for the CFP exam. How long does it take to become a financial advisor? In order to qualify for the exam you will also need three years full-time working experience with a financial planning establishment.

Statistics state that over 40% regularly fail this all important exam. It’s worth the time and effort as with this certification you are deemed as a certified financial planner and demand a higher salary.

Assessment

Hot tip: Stay away from insurance companies for financial employment. They’ll insist that you sign everyone including the dog and your grandmother. Then get rid of you if you don’t procure sufficient business. Banks are better they will bring in the clients for you.

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Are financial advisors true professionals; or a truely professional sales force?

Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure. Are financial advisors true professionals, or a professional sales force?

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

Healthcare Organizations: www.HealthcareFinancials.com

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A Normal or Strategic Business Imperative for Doctors?

If you, or your medical practice, can’t qualify for a traditional business loan, or if you don’t have time to wait for those funds, there are other alternative financing options that might be the answer — especially when those funds will equal a big return.

AR and PO financing (accounts receivable and purchase order financing) are two choices for business owners, and medical practices, when they need immediate capital, or have lower credit scores.

Assessment: This graphic should help decide if AR or PO financing is right for you.

Source: Dan Bischoff

 Conclusion

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

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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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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Market Will Grow in US to 1.3 Billion Dollars

By Markus Pohl

The smartphone application market for mobile healthcare will reach US$ 1.3 billion in 2012– up from US$ 718 million in 2011. Despite this substantial growth, the mHealth market is still in an embryonic state – especially in comparison to the US$ 6 trillion of the overall global healthcare market. Several factors (esp. smartphone penetration), will continue, however, to drive mHealth market growth over the next couple of years. These findings are part of our new Mobile Health Market Report 2011-2016 report.

Multiple Revenue Streams

The increase of revenue stems from downloads, in-app advertisements, mHealth services, direct transactions and sensor sales. As a number of big healthcare companies published mHealth apps in 2011 that go far beyond a simple allergy tracker or pill reminder (e.g. Sanofi Aventis’sensor-based iBGStar Diabetis monitoring app) sensors are a growing part of the landscape.

The 2012 Reach

In 2012 the number of mHealth application users – mobile users who downloaded a smartphone mHealth application at least once – will reach 247 million. Compared to the 124 million users who downloaded mHealth smarthphone applications in 2011, this is a near doubling.

The technical aspects of the healthcare landscape are changing rapidly and fundamentally. Healthcare data, the number of healthcare apps and their usage on mobile phones is growing. It is all evolving around smartphones and sensors attached to the phone.

Assessment

2011 already showed significant growth for the mHealth app market. In 2012 the market size will nearly double.

References

For more information on the mHealth application market read our report,Mobile Health Market Report 2011-2016. The report describes in a detailed 100 pages the impact of smartphone applications on the mHealth industry. It will help decision makers in the healthcare market to understand the current status of the market, learn about best practices and get insights on future trends and market potentials.

Link to report: http://www.research2guidance.com/shop/index.php/mhealth-report-1

Link to blog post: http://www.research2guidance.com/us-1.3-billion-the-market-for-mhealth-applications-in-2012/

Contact:

research2guidance

+49 30 609 893 363

mp@research2guidance.com

Conclusion

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

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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

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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

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