Welcome to the Medical Executive-Post – Our Journal Companion
We are a thriving online and onground community that connects physicians with financial advisors and medical management consultants. We participate in a variety of programs, conferences, workshops and graduate courses, in addition to our journal, textbooks, CD-ROMs, PowerPoint presentations and client education materials.
Through unbiased thought-leadership, we have become one of the most popular and influential professional networks in the health administration, economics and financial planning space for doctors.
Our goal in the modern Health 2.0 era is to “bridge the gap between medical mission and profit margin.”
So, join the ME-P Nation today and tell us what you think!
[Providing Educational Products, Managerial Advice, Innovative Insights, Investigative Reports, Breaking News and Economic Solutions in the Fiduciary Era]
Our institutional companion is the two-volume, premium subscription guide:
Healthcare Organizations
[Journal of Financial Management Strategies]
We are sponsored by the prestigious Institute of Medical Business Advisors, Inc
www.MedicalBusinessAdvisors.com
www.CertifiedMedicalPlanner.com
And, we champion the Certified Medical Planner™ program for all fiduciary advisors.
“BREAKING NEWS”
[Happy Thanksgiving to all our ME-P subscribers]
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OUR BOOKS, TEXTS AND DICTIONARIES ARE VITAL SURVIVAL TOOLS FOR ALL PHYSICIANS … AND THEIR CONSULTING ADVISORS
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[The Online Community of Physicians, Health Executives and Their Advisors]
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Fraternally,
Dr. David Edward Marcinko; FACFAS MBA CPHQ
Certified Medical Planner™
Publisher-in-Chief
Atlanta, Georgia USA
http://www.HealthcareFinancials.com
http://www.HealthDictionarySeries.com
http://www.CertifiedMedicalPlanner.com
MarcinkoAdvisors@msn.com
FOR OCTOBER – DECEMBER 2009
ME-Pr PHOTO SHARING
OUR NEWEST FEATURE*
With Apologies to Flickr
We are proud to introduce an exciting new Medical Executive-Post feature called the ME-Pr. Our goal is to aggregate and help subscribers make their related photographs available to those in our ecosystem who appreciate them; comical machinations or sad twists, interesting or ironic, shockingly complex or banal; or just plain iconoclastic. We hope the ME-Pr will make these things possible … and more!
To do this, we want you to send us photos and videos so we can post, redact and make them searchable.
Learn more: http://healthcarefinancials.wordpress.com/2009/10/01/me-pr-photo-sharing-examples-2009/
*Now in Beta
FOR SEPTEMBER 2009
INTRODUCING PRIVATE CHANNELS*
A private online ME-P blog channel that allows you to express yourself in a completely safe, protected, and secure environment.
Enjoy the public benefits of the ME-P, as well as the private experience of publishing your daily thoughts and ideas on your own channel; just like Pruitt’s Platform.
Learn more: http://healthcarefinancials.wordpress.com/private-channels/
Get your free private channel today!
Ann Miller; RN, MHA
[Executive Director]
MarcinkoAdvisors@msn.com
* For a limited time only!
FOR AUGUST 2009
ME-P PUBLISHER INTERVIEWED
What: Personal Telephonic Interview
Who: Dr. David E. Marcinko; MBA [Publisher-in-Chief], and others
By: Michael Gibbons [reporter]
For: ADVANCE Newsmagazines
Topic: The Physician Financial “Credit Crunch”
Where: Internet Ether
Maybe you’re a young dermatologist, plastic surgeon or other physician who dreams of starting your own practice. Or; maybe you’re an established professional but want to expand your palette of medical service offerings. Either way, you’ve probably made an unpleasant discovery: Banks are leery about lending today. Global recessions with seemingly no end in sight tend to give loan officers sticky fingers.
Report: “Financial Experts Share Tips on Obtaining Loans to Start or Expand a Medical Practice.”
Link: http://healthcarefinancials.wordpress.com/2009/08/02/dr-marcinko-interviewed-on-the-physician-credit-crunch/
Please send us your comments in the usual fashion. And, be sure to subscribe to the ME-P. Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
Fraternally,
Ann Miller; RN, MHA
Executive Director
FOR JULY 2009
What: Five articles for HCP [live] and the Healthcare Professionals Network
Who: Dr. David Edward Marcinko; MBA
Topic: Various
Where: Internet Ether
We are pleased to report on the response to many of our featured posts and informative articles; some positive, others not so. Of course, many of the most positive “kudos” go out to our Publisher-in-Chief, Dr. David Edward Marcinko; MBA. Most folks simply love his musings. This is appropriate since our complimentary ME-P personal blog, and its’ companion premium-institutional subscription guide: Healthcare Organizations [Journal of Financial Management Strategies] on CD-ROM, was his brain-child. He has quite the national, and international, reputation ya know.
Link: http://www.HealthcareFinancials.com
Reputation Augmentation or Decimation
Of course, for good or for bad, Dave’s reputation is sure to be augmented [cough-cough] as he begins his most recent public [private] speaking and book signing tour in the Upper Peninsula, of Michigan. As usual, he will be “teaching and preaching”, and “signing and opining.” So, contact me daily for his travel itinerary this month, and I’ll let you know his exact venue. Perhaps you’ll have time to catch-up with him. If not, just give him an electronic “shout–out” on this ME-P platform.
Link: http://healthcarefinancials.wordpress.com/dr-david-marcinko%e2%80%99s-bookings/
Book Signing and Speaking Tour
Nevertheless, Dave sure does seem to invite controversy wherever he goes. His polemics are just that note-able, and dare I say, controversial. And so, here are five more articles written by Dave and posted on the HCP Live [beta] website and Healthcare Professionals Network. The Editor, Peter Kelly, is a colleague and Dave was pleased to write for him. We all are firm believers in the motto: “Give Blog – Get Blog.” If the postings are new to you – please enjoy them all with our compliments. If not; re-read and relish them again. SEARCH word: Marcinko
Link: http://www.hcplive.com/hcplive/search
Conclusion
And so, your thoughts and comments on this Medical Executive-Post are appreciated. I’ll try to hold down the e-publishing-fort, until Dave returns in mid-July. Until then, please tell us what you think. 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.
Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
Fraternally,
Ann Miller; RN, MHA
Executive Director
FOR JUNE 2009
What: An Interview and Special Report Exclusively Prepared for the ME-P
Who: Mr. Jack Levy, CISSP [President – Securebill, Inc]
Topic: Physician Selection of eHRs
Reporter: Amaury Cifuentes; CFP®
Where: Internet Ether
Although skeptics of eHRs abound, President Barack H. Obama’s signing of the American Recovery and Reinvestment Act [ARRA] of 2009 has created a massive push for their implementation. The Act provides $19.2 billion, including $17.2 billion for financial incentives to be administered by Medicare and Medicaid. This assistance – of up to $40 to $65 thousand per eligible physician – and up to $11 million per hospitals – begins in 2011.
Read the Report Here
Link: http://healthcarefinancials.files.wordpress.com/2009/05/jack-levy-interview.pdf
And so, please send us your thoughts and comments in the usual fashion.
Fraternally,
Ann Miller; RN, MHA
Executive Director
FOR MAY 2009
What: A Special Report Especially Prepared upon the Request of Podiatry Today
Who: Dr. David E Marcinko and Hope Rachel Hetico; RN, MHA
Topic: Essential Insights on Successful Budgeting
Reporter: Jeffrey Hall [Editor Podiatry Today]
Where: Internet Ether
Although some doctors might view a budget as unnecessarily restrictive, sticking to a spending plan can be a useful tool in enhancing the wealth of a medical practice. These authors emphasize keys to smart budgeting and how to track spending and savings in these tough economic times. Universal applicability is obvious.
Read the Report Here
Link: http://www.podiatrytoday.com/essential-insights-on-successful-budgeting
And so, please send us your thoughts and comments in the usual fashion.
Fraternally,
Ann Miller; RN, MHA
Executive Director
FOR APRIL 2009
What: An exclusive telephonic and email interview.
Who: Dr. David Edward Marcinko; MBA [Editor, administrator and health economist]
Topic: The recession, economy, hospital operations, and Obama administration
Where: The telephone and internet virtual ME-P ether
Why: Providing opinions and pontifications on the healthcare industrial complex.
By: Steve Brawner
Sponsor: Medical Business News, Inc., publisher of Medical News of Arkansas
Currently, among the many dilemmas in healthcare, we seek to answer queries like:
• When will the recession end and how will it affect hospitals and physician practitioners?
• What operations and organizational policies can hospitals pursue to survive, going forward?
• How will the Obama stimulus plan affect hospitals and healthcare organizations?
Now, in as much as this controversy affects patients, administrators, politicians, Wall Street, nurse-executives and physicians alike, we went right to the source for up-to-date information regarding this current topic. Get ready for a controversial interview, and Question-Answer session, with Dr. David Edward Marcinko; Publisher-in-Chief, of this ME-P.
Link: http://healthcarefinancials.wordpress.com/2009/04/01/medical-news-of-arkansas-interviews-dr-marcinko/?preview=true&preview_id=9094&preview_nonce=d9039cf076
Link: [edited] http://www.arkansasmedicalnews.com/news.php?viewStory=738
And so, please send us your thoughts and comments in the usual fashion.
Fraternally,
Ann Miller; RN, MHA
Executive Director
FOR MARCH 2009
An exclusive email interview:
Who: Bennett Aikin; AIF®
Where: The internet virtual ether
Topic: Financial fiduciary accountability
Why: To explain a growing controversy in the financial services industry
By Hope Rachel Hetico; RN, MHA, CMP™
By Ann Miller; RN, MHA
Currently, there is a growing dilemma in the financial sales and services industry. It goes something like this:
• What is a financial fiduciary?
• Who is a financial fiduciary?
• How can I tell if my financial advisor is a fiduciary?
Now, in as much as this controversy affects laymen and physician-investors alike, we went right to the source for up-to-date information regarding this often contentious topic. Get ready for a controversial e-mail interview, and Question-Answer session, with Bennett [Ben] Aikin; AIF®; the Communications Coordinator for http://www.fi360.com
Link:
http://healthcarefinancials.wordpress.com/2009/03/01/an-interview-with-bennett-aikin-aif%c2%ae/
And so, please send us your thoughts and comments in the usual fashion.
Fraternally,
Dr. David Edward Marcinko; MBA, CMP™
Publisher-in-Chief
FOR FEBRUARY 2009
Audio-Video Presentations
Beginning this month, the Medical Executive-Post will begin placing your professional videos and vlogs; online. This decision was made after listening to our subscribers. Hopefully, our growing status in the new-wave electronic video medium will be elevated, too.
Our first contributions were sent in by Jeremy Engdahl-Johnson, with our thanks! Sample topics include the following:
• Will e-HRs be governed by some industry standard? Who will provide them?
• How do we achieve standardization of electronic health records?
• How has the Veterans Health Administration used electronic health records?
• Transcript: Who owns electronic health information?
• What are the benefits of electronic health records?
• How do we make an investment in healthcare during a recession?
• and more!
Link: http://www.HealthcareTownHall.com
And so, please continue to send in your informed posts and expert commentary in the usual fashion.
Fraternally,
Ann Miller; RN, MHA
Executive Director
FOR JANUARY 2009
A New “Look and Feel”
Beginning this year, the Medical Executive-Post will have a slightly new “look and feel.” The changes are being made after several cogent suggestions from astute subscribers. Hopefully, our growing status in the traditional print, and new-wave electronic publishing medium, will be elevated too. No doubt, you will note and appreciate the following changes:
• Longer posts and stories
• More in-depth reporting
• Audios and pod-casts
• More photos and images
• Crossing referencing
• More op-ed pieces
• Personalized by-line stories
• Added videos and webcasts
• Larger fonts-varying styles
We hope these changes will enhance the quality and subject-matter gravitas of the Medical Executive-Post in 2009. Our goal is to increase readership and extend our subscriber base with richer media presentations.
And so, please tell us – how are we doing? As a social network of health economics and financial professionals, laboring at the “intersection of medical-mission and profit-margin”, we are at your service.
View Annual Administrative Report: http://healthcarefinancials.wordpress.com/2009/01/05/annual-executive-post-report-for-2008-09/
Fraternally,
David Edward Marcinko
Hope Rachel Hetico
Ann Miller
Editors and Staff
FOR DECEMBER 2008
We’re Going “Green“ in 2009
The Medical “Executive-Post” is going “green” by rolling out its newly updated digital edition. Each day, the digital edition will provide health and financial industry coverage of information critical to your work in a fast, flexible and convenient format delivered directly to your e-mail inbox. It’s perfect for the busy life of any physician, health care executive or financial advisor interested in this vital and ever-changing space.
More info: http://healthcarefinancials.wordpress.com/2008/12/02/we%e2%80%99re-going-green/
Try our Premium Print Guide in 2009
And, for deeper hospital and institutional insight, try our quarterly 2 volume – 1,200 pages – premium subscription print journal: “Health Care Organizations [Financial Management Strategies], for only $535/year.
Order the Premium Print Guide: http://www.stpub.com/pubs/ho.htm
The subscription print guide includes up to four annual quarterly updates. Now, enjoy a 30-day risk-free trial in a unique loose-leaf binder format.
Forward: http://healthcarefinancials.wordpress.com/2008/03/09/david-b-nash-md-mba-facp/
Special E-P price:$535/yr. Call 1-800-251-0381
More information: http://www.stpub.com/pubs/ho.htm
To email purchase: email: orders@stpub.com
Visit: http://www.HealthcareFinancials.com
-Publishers, Editors and Staff
FOR NOVEMBER 2008
EXCLUSIVE SPECIAL REPORT
AUTHOR: Jeffrey Coons; PhD, CFA
AUTHOR: Christopher J. Cummings; CFA, CFP™
TOPIC: Participant-Directed Investment Menus
Despite current market uncertainty, this white-paper will examine several different ways of categorizing investment options and discuss their usefulness in an average healthcare participant’s efforts to build a long-term investment program with an appropriate risk/return trade-off. We will specifically examine the problems associated with manager style classifications (e.g., “growth” versus “value” or “growth & income” versus “growth”, etc.), with the general conclusion that style categories fail to pass the test of the four basic questions listed below.
EXCERPT:
The goal of designing a participant-directed investment menu should be to provide enough diversification of roles to allow participants, physician-executives and trustees to make an appropriate trade-off between risk and return, without having so many roles as to create participant confusion. Ultimately, the burden on plan fiduciaries to adequately educate employees is largely driven by the investment decisions we require them to make in the plan, with more choices necessitating a greater understanding of the fundamental differences between and appropriate role for each choice. The logical questions that arise when selecting options on a menu are:
1. Are there clear differences among the options?
2. Are these differentiating characteristics inherent to the option or potentially fleeting?
3. Are the differences among options easily communicated to and understood by the typical plan participant?
Most importantly, if healthcare participants are given choice among these different options, can the decisions they make reasonably be expected to result in an appropriate long-term investment program?
Don’t miss it!
READ IT HERE:
http://healthcarefinancials.wordpress.com/?p=2084&preview=true
FOR OCTOBER 2008
EXCLUSIVE SPECIAL REPORT
American Medical News Interview [September 15, 2008]
INTERVIEWED: Dr. David Edward Marcinko; MBA, CMP™
REPORTER: Karen Caffarini
POSITION: Executive-Post Publisher-in-Chief, former president of a PPMC in the Mid-West and Certified Financial Planner ™; noted author, speaker, health economist and medical practice management evangelist.
TOPIC: “Medical Practice Appraisals and Valuations”
[[Unedited Question-Answer Interview]
EXCERPT: “The allocated purchase price must be reported to the IRS. Goodwill is considered a capital asset. Therefore, the seller will want to allocate as much of the selling price to goodwill as possible. The buyer will want to allocate more of the selling price to non-goodwill assets because goodwill amortization is not tax deductible while depreciation and amortization of other assets is tax deductible. This “negotiated” goodwill will stand as the IRS value.
Thus, the IRS has effectively forced the controversial goodwill determination on practice buyers and sellers. This makes it even more imperative for buyers to specifically identify any hidden practice assets they are acquiring at the time of purchase; or for purchasers to discover them.”
Dark Humor
Q: What asset class might have less value right now than a toxic credit-debt-swap-obligation [CDSO]?
A: A private medical practice!
Don’t miss it!
READ IT HERE:
http://healthcarefinancials.wordpress.com/2008/10/09/q-a-interview-on-medical-practice-valuations/
FOR SEPTEMBER 2008
EXCLUSIVE SPECIAL REPORT
HIPAA Rules and Dentistry
AUTHOR: By Darrell Pruitt; DDS
POSITION: A private practice dentist in East Fort Worth, Texas and previous contributor to the Executive-Post on the NPI conundrum.
TOPIC: A Survey of Dentists [Pilot Study]
A survey of 18 dentists was performed using the Internet as a platform. The dentists were presented with ten HIPAA compliancy requirements followed by a series of questions concerning their compliancy as well as the importance of the requirements in dental practices.
Frustration with the tenets of the mandate, as well as open defiance is evident by the written responses. In addition, it appears that a dentist’s likelihood of satisfying a requirement is related to the dentist’s perceived importance of the requirement. Even though this is a limited pilot study, there is convincing evidence that more thorough investigation concerning the cost and benefits of the requirements need to be performed before enforcement of the HIPAA mandate is considered for the nation’s dental practices.
EXCERPT: “Dr. Gerald Daniel seems to have captured many of the dentists’ feelings about the HIPAA Rule when he lamented, “We try to comply, however many times I feel every government agency in the country wants to run my practice without regard to the problems, expense or aggravation it causes the health provider.”
Don’t miss it!
READ IT HERE:
http://healthcarefinancials.wordpress.com/2008/09/01/hipaa-rules-and-dentistry/
FOR AUGUST 2008
EXCLUSIVE SPECIAL REPORT
Physician Recruiting Success
AUTHOR: Allison McCarthy; MBA
POSITION: [Principal-Barlow/McCarthy]
http://www.barlowmccarthy.com Contact: 866.315.7774
Allison McCarthy has worked in healthcare for more than 20 years, first as an allied health professional and then moving into physician strategies leadership positions in both community and academic medical centers. As an experienced speaker, she presents at national and regional conferences and is a lead faculty member at the Physician Recruitment Intensive Training program provided by the American Academy of Medical Management (AAMM). Ms. McCarthy is the author of A Practice Development Primer and President of the New England Society for Healthcare Strategy.
TOPIC: Physician Recruiting Success [Senior Leadership's Contribution]
EXCERPT: “If you’re recruiting physicians to your organization, then you probably feel challenged by internal disconnects that hinder your progress. More than likely you deal with one or more of them daily. And for many of these issues you need your senior leader to be your ally, champion and advocate, helping you navigate around those obstacles.
But, exactly what skill set within your leader is your most important resource? And how can you optimize those attributes when you need them?”
Don’t miss it!
READ IT HERE: http://healthcarefinancials.wordpress.com/2008/08/01/physician-recruiting-success/
FOR JULY 2008
EXCLUSIVE SPECIAL REPORT
Understanding Financial Designations and Certifications
AUTHORS: Dr. David Edward Marcinko; MBA, CMP™ and Hope Rachel Hetico; RN, MHA, CMP™
POSITION: Publisher-in-Chief, and Managing Editor of the Executive-Post, respectively.
TOPIC: Financial Designations and Certifications [Alphabet Soup of Industry Obfuscation and Self-Promotion, or Real Gravitas – You Decide?]
EXCERPT: “Until recently, most financial advisors were regulated by the NASD, the National Association of Securities Dealers. Now the Financial Industry Regulatory Authority or FINRA is the largest non-governmental regulator for all securities firms doing business in the United States. It is a self-regulatory agency comprised of the nation’s brokerage firms. Upon completion of a required exam the FINRA will issue a variety of licenses. The most common are the Series 6, 7, and 24.
The Series 6 is essentially a license to sell packaged products, namely mutual funds. It is most commonly held by insurance agents and bank representatives. It is considered a very easy test. Holding such a license allows the holder to collect commission income through its member firm.
The Series 7 exam is a bit more difficult and includes issues relating to individual securities such as stocks, bonds and limited partnership interests. The pass rate is lower than the Series 6. The probable culprit is the extensive questioning on margin and options, topics most are unfamiliar with prior to entering the securities business.
The Series 24 covers issues of compliance and supervision and is required of Branch Managers of brokerage firms. All registered representatives (the proper name for a broker) must be supervised by someone with a Series 24, also known as a principal’s license.
Checking the background of a registered representative, a branch manager or a member firm is easily done through NASD and/or FINRA Regulation, Inc. NASDR/FINRA maintains the Central Registration Depository (CRD). The CRD can be checked for a description of a disclosed event by phone or by Internet. One should request information on an advisor’s firm as well as the individual. A reputable advisor at a disreputable firm has its own set of potentially dangerous implications.
Regardless of the above, these tests produce licenses to sell financial products. They are not educational achievements. There is virtually no academic barrier to entry for them. Stock-brokers today – hate the term – and prefer “financial advisor”; yet the term has no real meaning other than as a sales license.
Some are college graduates, and beyond; while some other experts argue too many are not!”
Don’t miss it!
READ IT: July 1, 2008
http://healthcarefinancials.wordpress.com/2008/07/01/alphabet-soup-of-financial-designations-and-certifications/
Related: 8 Things your Financial Planner won’t tell You!http://articles.moneycentral.msn.com/RetirementandWills/CreateaPlan/8ThingsYourFinancialPlannerWontTellYou.aspx
FOR JUNE 2008
EXCLUSIVE SPECIAL REPORT
Evolutionary Shifts in the Primacy of Medical Ethics
[Philosophic Ruminations and Personal Interviews]
AUTHOR: Render S. Davis; MHA, CHE of Crawford Long Hospital at Emory University
Atlanta Georgia USA
POSITION: Render S. Davis is a certified healthcare executive. He served as Assistant Administrator for General Services, Policy Development, and Regulatory Affairs at Crawford Long Hospital of Emory University from 1977-95. He is currently an Administrator for Special Projects and Co-Chair of the Ethics Committee of Crawford Long Hospital, and an independent healthcare consultant in the areas of policy and ethics. He is a founding board member of the Health Care Ethics Consortium of Georgia and has served on the consortium’s Executive Committee, Advisory Board, Futility Task Force, Strategic Planning Committee, and has chaired the Annual Conference Planning Committee since 1995.
TOPIC: Evolutionary Shifts in the Primacy of Medical Ethics
EXCERPT: ”For more than 2000 years, the principle of beneficence, the profession’s obligation to be of service to others, was the foundation of the practice of medicine.
In taking the Hippocratic Oath, physicians swore that they would “perform their art solely for the cure of patients,” and patients viewed their doctors as wise, caring, and paternalistic healers unwaveringly committed to their welfare.
Until the era of modern medicine dawned in the early Twentieth Century, sincere caring and compassionate service probably were the most effective instruments in the physician’s meager armamentarium” … What has changed today; if anything?
Don’t miss it!
READ IT HERE: http://healthcarefinancials.wordpress.com/2008/06/01/evolutionary-shifts-in-the-primacy-of-medical-ethical-principles/
FOR May 2008
EXCLUSIVE SPECIAL REPORT
SIX-SIGMA PRIMER [Physicians, Hospital Administrators and Healthcare Executives]
A very special report on improving medical care quality and related healthcare delivery initiatives thru manufacturing concepts of six-sigma, by a leading physician-executive and senior six-sigma practitioner from Creative Health, USA. This feature was prompted by the many inquires after an original brief post on the same topic.
AUTHOR: Dr. Daniel L. Gee MD MBA, Principal from Creative Health USA, in Scottsdale Arizona. Dr. Gee believes that; “six-sigma is more than simply allocating resources to correct a problem – it’s a proven methodology designed to uncover, isolate, understand, and remedy the root causes of problems”.
POSITION: Dr. Daniel L. Gee is an expert in operating suite dynamics and logistics, having helped establish two hospital-based obstetrical anesthesiology programs, in Phoenix. Formerly, he was managing partner for a multi-specialty anesthesiology practice in the southwest, and Chief of Anesthesiology at John C. Lincoln Hospital in Phoenix. Dr. Gee designed pharmaceutical protocols for clinical practice, was a speaker for Glaxo Pharmaceuticals and served on formulary committees and as an investigator for clinical trial programs. He received a BS with Honors from University of Southern California, an MBA from Arizona State University, and his medical degree from University of Arizona. He is a Diplomate of the American Board of Anesthesiology and an active medical practitioner.
TOPIC: Six-Sigma Primer [Physicians, Hospital Administrators and Healthcare Executives]
EXCERPT: “The key to winning in sports is to gain a competitive edge. Athletes must train harder and seek out new training methods; new ideas of physical or mental conditioning just to stay ahead. Likewise, in healthcare, gaining and maintaining a competitive edge or, even surviving, in today’s healthcare environment will demand strong managerial skills and an organizational culture devoted to cutting edge thinking.
All stakeholders in healthcare, from physicians to hospital board members, are searching for ways to deliver quality and service for greater patient satisfaction at affordable costs. They want to improve reimbursements, operational efficiencies, retention of labor, medical and pharmaceutical error reduction and above all, minimize expenditures.
Achieving these lofty goals requires looking beyond the borders of one’s own industry for management initiatives that drive both quality and low cost while serving the customer in his or her own best interest. The healthcare industry’s holy-grail of providing quality while minimizing cost is often thought of as extremely difficult to attain, until now.
What is happening in the manufacturing and outside service industries is a valuable lesson for healthcare managers and providers to learn and stay competitive. The hottest management improvement initiative sweeping many industries is the one approach with the most visible success above all improvement methods so far. It is not a hot new fad or passing fancy but rather, a flexible system built on the best of past management ideas and proven practices of the business world’s most successful companies. It is a philosophy designed to markedly improve an organization’s performance and its management leadership.”
Don’t miss it!
READ IT HERE: http://healthcarefinancials.wordpress.com/2008/05/01/six-sigma-primer
FOR APRIL 2008
EXCLUSIVE SPECIAL REPORT
“MEDICAL PRACTICE VALUATION BLUNDERS”
April 1st 2008
A very special tax season report on the top-ten medical practice fair-market-valuation blunders to avoid, by leading health economists from the Institute of Medical Business Advisors, Inc in Atlanta, GA. http://www.MedicalBusinessAdvisors.com
Subscribe Now: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
AUTHORS: Dr. David Edward Marcinko; MBA, CMP™ – a CEO and former Certified Financial Planner™ – with important contemporaneous contributions by Hope Rachel Hetico; RN, MHA, CMP™
POSITION: As a clinician and past president of a privately held Physician Practice Management Corporation (PPMC) in the Midwest, Dr. David Edward Marcinko helped consolidate 95 solo medical practices, with $50 million in sales revenues as the company’s IPO roll-up attempt was aborted due to adverse market conditions, in 1999. A nationally recognized leader in the healthcare management, economics and financial advisory industry, he is a pioneer in utilizing technology to improve quality education and advisory services, while simultaneously reducing delivery costs http://www.stpub.com/pubs/authors/MARCINKO.htm
Hope Rachel Hetico RN MHA has a well-documented history of identifying innovations in education and accelerating their adoption by the healthcare industrial complex. Formerly, she was a healthcare administrator, financial advisor and medical insurance professional. She was also a Certified Professional in Healthcare Quality™ and National Corporate TQI Manger for Abbey Healthcare http://www.stpub.com/pubs/authors/HETICO.htm
TOPIC: “The Top-Ten Medical Practice Valuation Blunders to Avoid”
EXCERPT: “The science of the modern medical practice valuation can be traced to the Estate of Edgar A. Berg v. Commissioner (T. C. Memo 1991-279). In this case, the Court criticized CPAs as not being qualified to perform business valuations, failing to provide analysis of an appropriate discount rates, and making only general references to justify their “Opinion of Value.”
In rejecting accountants, the Court accepted IRS economists because of background, education and training, as well as discount rate calculations and reproducible evidence applied to the assets being examined. This marked the beginning of the Tax Court leaning toward the side with the most comprehensive appraisal. Previously, it had a tendency to “split the difference.”
Now, some feel the Berg case launched the valuation profession; especially for contemporaneous health economists and fiduciary medical practice advisors.”
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medical-practice-valuation-blunders.pdf
FOR MARCH 2008
EXCLUSIVE “DDS-DMD” SPECIAL REPORT FOR DENTISTS
A very special report on dentists – their professional practice career and economic life cycle – by a leading national dental management corporate executive.
Subscribe Now: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
AUTHOR: Thomas A. Knox MBA was senior vice-president for provider partnerships at Delta Dental Plan of Minnesota, which owns a major interest in a privately held dental practice management corporation [DPMC].
POSITION: Mr. Knox held senior leadership positions in several health care organizations for more than twenty-five years. He implemented various joint ventures, partnerships and business alliances in a variety of medical organizations. He is recently retired.
TOPIC: Practice Management and Financial Planning: It’s [NOT] for Dentist’s Only
EXCERPT: “The challenge is that for many dentists their practice is too big and too profitable to sell to new dentists who have been, traditionally, the practice buyers. Almost fifty percent of present day dentists are baby boomers pushing 50-55 years of age. And unfortunately, they cannot afford to retire at this point and still maintain the lifestyle they have created.
But, the temptation is there – the thought is occurring more frequently – and it is very compelling and very frustrating.”
Don’t miss it!
REQUEST IT NOW: Complimentary by email.
ddspracticelifecyclefinplanning.pdf
IN FEBRUARY 2008
EXCLUSIVE SPECIAL REPORT – Now Available!
A chilling white-paper on medical professionals and their investing compulsions by one of the nation’s leading psychologist, gambling addiction and trauma specialist.
Subscribe and read: http://healthcarefinancials.wordpress.com/2008/02/01/289/
AUTHOR: Eugene Schmuckler; PhD, MBA, CTS Contributing Editor for http://www.MedicalBusinessAdvisors.com and http://www.HealthcareFinancials.com
POSITION: Academic Dean: http://www.CertifiedMedicalPlanner.com an online certification program with fiduciary trademark logo that teaches financial professionals about contemporary health economics, physician focused financial planning, medical practice management and related topics of business modernity.
TOPIC: The Addictive Investing Personality of Medical Professionals and Related Compulsions
EXCERPT: “Hard-working physicians and other medical practitioners confronted with the problems associated with managed care and healthcare reform may very well choose to direct a portion of their energies to “playing the market.” It is legal and ethical and offers the opportunity of quickly increasing one’s personal wealth – or NOT.
Functioning virtually alone prevents others from questioning their actions. While not directly equivalent, this action is akin to the drinker who drinks alone so that no one really knows just how much is consumed – often a recipe for financial and emotional disaster.”
NEW YEAR 2008 PROGNOSTICATIONS
JANUARY SPECIAL REPORT: 2008 Prognostications from Healthcare Financials
A Medical “Executive-Post” Op-Ed Essay
Dr. David Edward Marcinko; MBA, CMP™
Publisher-in-Chief
A new heuristic study by the Institute of Medical Business Advisors Inc., http://www.MedicalBusinessAdvisors.com and http://www.HealthcareFinancials.com suggests that the New Year 2008 could be a big one for the healthcare industrial complex – with these dozen economic observations and postulated structural changes that could profoundly affect the industry – listed in no particular order of importance.
Report Link: http://healthcarefinancials.wordpress.com/2008/01/23/2008-prognostications-from-healthcare-financials/
And, best wishes to all our Healthcare Organization: [Financial Management Strategies] print subscribers, contributors, Executive Post electronic bloggers, viewers and supporters.
May the New Year 2008, bring health, happiness and self-actualization to all who labor in our industry despite Herculean obstacles”
“Live passionately – practice well – exceed expectations – never yield!”
Dr. David Edward Marcinko; MBA
Editor and Chief
Hope Rachel Hetico; RN, MHA
Managing Editor
Editors, Reporters, Writers and Staff
HO: [FMS]
http://www.HealthCareFinancials.com
http://www.stpub.com/pdfs/toc_ho.pdf
More info: http://www.stpub.com/pubs/ho.htm
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DECEMBER 2007 – JANUARY 2008
Very POPULAR!
A dynamic two-part personal interview with one of the nation’s leading health economists and industry “movers and shakers.” More vital information and dropped names than can be imagined!
Read Now: http://healthcarefinancials.wordpress.com/2007/12/01/dr-david-e-marcinko/
WHO: Dr. David Edward Marcinko; MBA
Founder and CEO: http://www.MedicalBusinessAdvisors.com a private health economics, business management and financial advisory and consulting firm with no debt, no investors and no plans to go public.
TOPIC: Medical Unions and Related Competitive Thoughts
REPORTER: Hope Hetico; RN, MHA, Certified Medical Planner
Adjunct Professor for: http://www.CertifiedMedicalPlanner.com and Managing Editor of our companion-quarterly institutional print-guide HealthCare Organizations [Financial Management Strategies] http://www.HealthcareFinancials.com
EXCERPT: “So, for a time, there were too many doctors chasing too few patients. Hence, the start of a supply side disequilibrium driving medical fees – with assistance from managed care entities that recognized the trend early on – down, down, down; much to the fiscal detriment of medical providers. Except perhaps, to the benefit of the patients they served.”
WHEN: Thanksgiving Day, 2007
LOCATION: A restaurant in Atlanta, Georgia serving deep fried turkey – a Southern delicacy and tradition – with a side order of insightful, controversial and experiential opinions … and more!