Listen Up

Thursday, October 9, 2008

Wealth Train Express

I'll take a right hand turn here (not politically) to share with the readers....we are in the wrong profession.

Some new definitions in the world of business. This guy's blog was bought for  15 million buckaroos!

Revised Financial Terminology for 2008

Johns Wu Posted in Banking News by Johns Wu
October 8, 2008 09:34 AM - 15 Comments

Hat tip to The Big Picture for posting up this bit of Wednesday humor.

CEO –Chief Embezzlement Officer.

CFO– Corporate Fraud Officer.

BULL MARKET — A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET — A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING — The art of buying low and selling lower.

P/E RATIO — The percentage of investors wetting their pants as the market keeps crashing.

BROKER — What my broker has made me.

STANDARD & POOR — Your life in a nutshell.

STOCK ANALYST — Idiot who just downgraded your stock.

STOCK SPLIT — When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER — A guy whose phone has been disconnected.

MARKET CORRECTION — The day after you buy stocks.

CASH FLOW — The movement your money makes as it disappears down the toilet.

YAHOO — What you yell after selling it to some poor sucker for $240 per share.

WINDOWS — What you jump out of when you’re the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR — Past year investor who’s now locked up in a nuthouse.

PROFIT — An archaic word no longer in use.

I know, I know, we still get our jollies out of helping these people.

Health Train addendum

It seems that no sooner do I ask a question, that the answer appears on other blogs. Thank you Matt Holt, and others.

 

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Candleglance provides some stellar graphics. More comments later.

Answers to the Health Train Questions

Edwin and Kevin, I have found the answer to my questions about symptoms at the  E.D.

From the WSJimage

The grim economy and quaking stock market are driving masters of the financial universe to seek professional help for anxiety, and eroding sense of identity or tips on how to deal with angry clients, the Boston Globe reports.

Therapists are seeing an 15% to 20% uptick in business from affluent clients around Boston, psychologist Jim Grubman told the Globe.

The financial crisis bruises the psyches of the wealthiest in particular because their sense of self can be so focused on making money, therapists say.

“It’s something that I call identity dissolution, their sense of identity dissolves,” Dennis Pearne, another Massachusetts psychologist, told the Globe. “The primary way they defined themselves and who they were and their values - what they can and can’t do in this world - disintegrates.”

In counseling, the rich (or formerly rich) may need to learn that who they are is more than raw purchasing power. Therapy may explore the idea of a different career or, alternatively, how to renew the patient’s motivation to compete again in the market. Grrrrr.

Kick your Apps off the Health Train

I don't know about you, but I have heard, written, and seen about enough of gloom, doom, and problems.  I turn our attention to some fun stuff.

Today we are offering a number of innovative applications to benefit you and your patients.

First, I would like to invite the readers to join an internet site which is a unique central control for all your social networking sites. For those of you who are of an entrepenurial bent, or those who have internet savy and web sites, this is a site with a myriad of tools to promote your web site and integrate it into multiple social networking sites. Kickapps is a user friendly site offering multiple venues for publicizing  your enterprise.  Some of the companies that are represented include: National media, Local media, Blogs, Magazines,Newspapers,Lifestyle,Not for Profit,League and Associates, Community Associations, Local and National Televison, Local and National Radio, NPR.....and more.  There is even a site that will take you to Concierge Medicine.

The site is supported by advertising, and a host of interesting links.  There are multiple tutorials for idiots like me. Exploring this site may give you ideas for your interests. My site gmlevinmd123 is there in it's infancy.  See you there at Kickapps

Warning, this is an unabashedly commercial marketing site.  I make no claims regarding it's veracity and I have no financial interests in the site, nor any of it's participants, other than my own link.

Wednesday, October 8, 2008

Health Train Collision

Harry Truman

"I never did give them hell. I just told the truth, and they thought it was hell."

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The past two weeks have hammered image

all segments of the economy, from the housing markets, banking institutions, small and large businesses, and soon into healthcare.  Unless the credit markets resume functioning very soon we will witness payless paydays in provider groups, elimination of health information technology projects and the abrupt decrease in adoption of EMRs.  The Feds have shot themselves in the foot, quite nicely.

AIG crashed several weeks ago, and we have heard nada from health insurers, their reserves, nor the state of their investments in the market and/or real estate. I am naturally suspicious and it has been eerily quiet from those corners.

Ignoring Crisis has a price  (from the New York Times)

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After 14 months of crisis, the federal government — meaning you and me — has put serious money on the line. As a point of comparison, the entire annual federal budget is about $3 trillion.

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Despite everything, the biggest fiscal problem remains, far and away, health care. Based on the rate that medical spending has been rising, the Congressional Budget Office forecasts that Medicare and Medicaid will take up 10 percent of G.D.P. within two decades, up from about 4 percent now. In today’s terms, that would be the equivalent of adding at least $900 billion to the deficit every single year, in perpetuity. It makes the cost of the bailouts look like a rounding error.

When it comes to health care, we have a situation that is blatantly unsustainable. With the right choices, we can prevent that. But so far, we instead seem to be hoping that the situation will magically resolve itself, which is a recipe for big problems and perhaps even a crisis.  Will health care bomb out?

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Let’s see. That doesn’t sound familiar, does it?

Health Train Track to Reform

Richard Reece, MD in his Medinnovation blog points out that the road to reform is mostly uphill.....Does the road wind up-hill all the way? Yes, to the very end.

“Each of the key players is sharply edged, high-earning physicians, the over-bedded hospital sector, employers squeezed by rapid rising benefit costs, inefficient private health insurance companies, highly profitable pharmaceutical and medical supply companies, and, finally, the public who wants more and better care but doesn’t want to pay for it.”
Sound familiar? It should, for satisfying these stakeholders block the road to health reform today. The road to universal coverage is as uphill as it has ever been.image

 

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Michael L. Millenson, president of Health Quality Advisors LLC in Highland Park, IL, is the author of the critically acclaimed book, Demanding Medical Excellence: Doctors and Accountability in the Information Age.  In the Huffington Post today (a not unbiased publication. Millenson gives his opinion of MCain's plan for health reform

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THCB has an article authored by Maggie Mahar (Maggie Mahar is an award winning journalist and author. A frequent contributor to THCB, she is fellow at the Century Foundation and the author of the increasingly influential HealthBeat blog, one of our favorite health care reads, where this piece first appeared.) She begins her analysis.........

"I have to admit I often have found the language of health care “rights” off-putting.  Yet the idea of health care as a “right” is usually pitted against the idea of health care as a “privilege.” Given that choice, I’ll circle “right” every time."

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The Wall Street Journal  sums up McCain vs. Obama,

McCain said:

I think it’s a responsibility, in this respect, in that we should have available and affordable health care to every American citizen, to every family member. … But government mandates I — I’m always a little nervous about. But it is certainly my responsibili

Obama said:

I think it should be a right for every American. … for my mother to die of cancer at the age of 53 and have to spend the last months of her life in the hospital room arguing with insurance companies because they’re saying that this may be a pre-existing condition and they don’t have to pay her treatment, there’s something fundamentally wrong about that.

The WSJ blog leaves us with this question,

Health Blog Question of the Day: What do you say? Is health care in America a privilege, a right, or a responsibility?

Health Train Derailed

Last night’s debate was rather lackluster and uninspiring. Neither of the candidates revealed themselves to be ‘leaders’ and proponents for a glowing American rebound and future. Neither of them painted a picture of creative thought. Rather it was more like a cabinet meeting of officials discussing nickel-dime instructions on how to rescue our country from decline and mediocrity.

McCain’ plan for health reform made universal payer look highly desirable. He totally ignored the issues of escalating health care cost, the uninsured and underinsured.

He ignored public health, children’s health, and geriatric health and no mention about Medicare reform. There was no mention of the burdens of unnecessary bureaucracy and redundant process.

The idea of removing employers from the equation is a double edged sword. The most negative thing about is that many people would not obtain health insurance if it is not a benefit. Who would pick up the vacuum? The tax credit is inadequate and adds another level of complexity, another attempt to manipulate citizen behavior with more tax codes. It does not address the unemployed, either acutely or chronically. In our present system, employers also analyze health insurance plans and offer a menu of plans analyzed by human resources. Would individuals be able to navigate this morass? On the other hand it removes the employer as a negotiating agent in the marketing war of insurers. Individuals would negotiate directly with the insurers. This would change the playing field.

The campaign has drifted away from ‘the measure of the man’. I tend to like some of Obama’s ideas, but am very uncomfortable with the measure of him. Yes, he did some worthwhile work in Chicago with community development, but where does that work leave the ‘rest of us’.

As in healthcare, the economic rescue plan very much depends on details. Without careful thought and advice from those in the system it will be doomed to failure.

In addition to these factors, the financial world seems to have lost all sense fiduciary responsibility, captivated by profit, greed, and golden parachutes. Many of these ‘captains of industry’ should be indicted for fraud and prosecuted to the full extent of the law.

I and many of my colleagues feel a deep sense of resentment when the financial industry can function in a manner that we cannot. If my medical practice acted in this manner, my doors would be closed. I look at Washington Mutual, Wachovia, and others who have been rescued (for the time being) with open doors, doing business as usual. I think their doors should be shuttered. FDIC can insure the depositors, but these banks should no longer be operating. The employees can work for other financial institutions. However to allow them to keep operating under the same name is a travesty of unbelievable proportions.

It seems harsh, but those who lose money will be much more attentive to the banks with which they do business. Obviously leaving this up to regulators who do not regulate has not worked.

If you have made it down to this point in my diatribe, I will close with the following.

Obviously you and I who have practiced in the system for say 5,10,20 years or more no nothing about healthcare, nor how to reform it (at least that is how the politicians, pundits, and allied personel look at it).

image (from Distractible Mind..thanks)

I am no expert.....that is woefullly apparent from comments I have received from others.  I will pontificate in other areas. Healthcare is in the ICU, intubated, and without  ADVANCE DIRECTIVES. with no means of ''pulling the plug".

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Medical futility.
Who has the power to decide?

Tuesday, October 7, 2008

Health Train-----I'll catch the next one.

I  am not going to watch tonite's debate. I know all I need to know. In fact I am not going to listen or watch anymore political debates.  There seems to be a total lack of common sense. My criteria for choosing our next President lies in the measure of the candidates.  Listen to Senator Tom Coburn from Oklahoma.

Not their academic prowess

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Not their marital history....unless it borders on the promiscuous at this time

Not their race or sex

Not their promises

Not their idea of  health care reform

Not their solution for the economic crisis.

I will not base it upon slick oratory, charisma, and/or rhetoric.

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I will base it upon their fundamental belief in all the citizens of the United States.

I will base it upon who paid for their education, and fundamental beliefs in the constitution.

I will base it upon who they 'hang out with'.

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image (Photoshop mash up)

I will base it upon to whom they are loyal.

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I will base  it upon their life demonstration to America and thier underlying belief system.

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Health Train Overhaul


Quote of the day:

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People that are really very weird can get into sensitive positions and have a tremendous impact on history. - Dan Quayle

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You can forget about major healthcare reform this election cycle. Our current and future elected leaders are hard pressed to correct the financial morass that has developed.  The media is misleading all of us when it places blame on the sub-prime mortgage market.  To hear responsible officials blame this on giving mortgages to people that should not have a mortgage is a blatant lie and misrepresentation of the facts. One of America's ideals has everyone should be able to buy a home. a chicken in every pot and a  car or two in the garage. Perhaps that was true in the 50s when the average home in suburbia was about 19,000-25,000 dollars. This is largely untrue now with average homes costing 250,00 dollars or more in a market where the dollar is almost worthless compared to it's value back then. The cost of gas was about 19-25 cents per gallon.  A MacDonald's burger was 19 cents.

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Healthcare will muddle along for the time being, unless we see large hospitals or systems threatened with bankruptcy or failure and then they will be bailed out if it affects millions of people.  Don't look for relief for the piddling masses of physicians, and primary care providers. 

You don't need a pile or ream of statistics to analyze our current situation.  Just look at your accounts receivable, and your check book balances.

In fact as William Brody states in the San Francisco Chronicle 

In case you missed it, Great Britain, in response to prolonged complaints from tourists, has decided to move its traffic from the left side of the road to the right, the same way we drive in the United States. But not all traffic. After taxi and truck drivers protested the cost of moving their steering wheels, a compromise was worked out. Cars will drive on the right and commercial vehicles on the left.

They call this the American Medicine Plan. image

None of that is true, of course. I offer this nightmarish fantasy to make the point that the United States has the world's only health care system where everyone plays by his or her own rulebook.

In fact, there is no American health care system. You can talk about the British Medical Service or the German medical system or the Canadian national health plan. But when you describe American health care, there is no one system you can talk about. Medicare is different from Medicaid is different from private insurance is different from no insurance.

Individuals in these different situations have different medical experiences - and often different health outcomes.  And for this mess, we Americans shell out $2.2 trillion a year, up from $75 billion just 38 years ago."

What troubles me, however, is that whenever Washington tries to overhaul something that involves a large universe of interest groups, it usually makes things not simpler, but more complex. And complexity is already one of the very worst aspects of American health care.

Has anyone been to a hospital for a procedure and not been confounded by the billing process that followed? No wonder hospitals are repeatedly asked, "Do you go out of your way to hire complete idiots for your billing office?"

In fact, just the opposite is true. Hospitals try their best to hire good people and spend a lot of time training them. But the outcomes are usually abysmal because every insurance plan has different rules, different eligibilities and different coding systems.

Not so very long ago, hospitals dealt with only a small number of organizations that paid for medical care. There was Medicare and Medicaid, Blue Cross/Blue Shield and a handful of private insurers. Recently, I asked my chief financial officer how many payers we deal with today. The number shocked even me. He said Johns Hopkins Hospital has to bill more than 700 different payers and insurers.

They are HMOs, PPOs, MCOs, IPAs and an alphabet soup of other organizations. Each one has its own set of rules for what services are covered, the level of reimbursement and the kinds of documentation and pre-approval required. It is an administrative nightmare.

This inefficiency costs patients tens of billions of dollars each year. Billing, collection and payment administration conservatively represent 20 percent of that $2.2 trillion health-care bill.

When Washington addresses health care reform, therefore, it needs to treat complexity as one of the major symptoms.

How? I don't pretend to have all the answers, but some points are clear. Start with a common format - a national standard for billing and coding - that all payers and providers can use to reduce costs and burdens and make medical bills understandable to patients.

Saturday, October 4, 2008

The Barracuda Express

image photo source: Bully Pulpit

Sarah Palin, the quintissential girl next door,tomboy, beauty queen, fish, Annie  Oakley, David & Goliath, Esther,...is here in Southern California. Because I am an ophthalmologist I am most strongly attracted by her eye wear...(LASIK SURGEONS, stay away from my girl) and don't even think about using her photo for a testimonial to your "greatness" as a lasik surgeon), a surefire way to tank your practice.

(Marry me, Sarah)

Like most Democrats and Republicans alike, I measure Sarah  Palin by what I observe on the tube.  Some of us are looking for the 'savior' to save us from what is surely a big mess. No fancy words are needed here, and perhaps this is why and what Sarah is all about.  She is not, and has not been a part of the problem  in the lower 49 states.  Give us energy....she has the energy in more ways than one.  We can't measure her by her quantum of expertise in foreign affairs, economics, good old boy networking,the altitude of her formal education,nor her accomplishments in social justice. (does Alaska have a slum, ghetto, or downtrodden masses?  Perhaps the native Innuit's serve that role in Alaska....but we never hear much about them.

Does Alaska have to deal with droves of illegal aliens crossing the frozen tundra in search of work?  Perhaps now that the drill, drill, drill proponents have there way there will be a need for 'cheap labor' that Americans don't want to do'...(we had better start building the bridge across the Bering Strait

The last great invasion into Alaska dates back tens of thousands of years when North America was populated by the Asian throngs.

Today I will measure her.  I will be at her speech in the Home Depot Center in Carson, CA , perhaps chosen, by no accident since it is the home of the Los Angeles Galaxy Soccer team.

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(close to Los Angeles) to listen, observe, smell, and feel the 'energy' and it's effect on the audience.....a much more accurate assessment than the biased media reports of the cable network channels, who espouse the convictions of their owners.

On Monday I'll be bok (I'm from Caleeforneea) to espouse my humble opinion and return to health care issues.

Friday, October 3, 2008

Health Train CCHIT HIE

Certification Commission for Healthcare Information Technology

News from the Certification Commission for Healthcare Information Technology

On Oct. 1, a certification program for health information exchanges (HIEs) opened for the first time. Recognizing that some HIEs are in an early stage of funding and business development, and wishing to lower the barriers to certification for these entities, the Certification Commission for Healthcare Information Technology has received a limited amount of funding from the Office of the National Coordinator, Health Information Technology, U.S. Department of Health and Human Services, to support certification fee reduction grants for nonprofit, operational HIEs with limited annual revenues. Information about this new 09 HIE program, including the criteria and test scripts, the HIE Certification Handbook and the applicant agreement, is available at http://cchit.org/certify/hie.

Thursday, October 2, 2008

Another Debate

 

We are moments away from the VP debates as I watch Dick Morris and Bill OReilly going off in their usual directions. I thought I would squeeze in a bit of blogging....Popcorn and snacks on the right, drinks on the left, laptop where it belongs....on my lap. It generates just enough heat to keep me warm.... I am reflecting on the one hour blog carnival review I just completed.  Some of you are dedicated servants, blogging daily, having guest hosts fill in for you, much like Letterman, Leno and others. Dr. Val has had several Youtube videos dedicated to her meanderings about the blogosphere. (Red Hot Chili Peppers----"I get around" ). Dr Val, are you going to be homeless if Revolution Health get's sold?

  At any moment I expect Kevin Pho to be up there on Bill OReilly.  I am inviting Sarah Palin to do debate with Suture for a Living's Dr. Ribates. 

I happen to like and enjoy Sarah.  We have not done too well with the  politico boys and/or girls from Yale, Harvard, Wellesly College, Sarah Lawrence, and the other elite schools.  Give me a rifle and inexpensive helicopter (and oh yes, a six pack)

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The debate is starting....in the words of the Terminator,  "I'll be bok"

Here I am two hours later.  The financial crisis and crisis in healthcare have not changed during these 120 minutes. It is  apparent that Sarah Palin will no longer be an issue for John McCain to prove he did not make a mistake in choosing her to be his vice presidential candidate.  It is now  up to the McCain campaign and the Republicans, indepedents and democrats  who support him to show us what they can do.

Frank Lutz's post debate focus groups all felt that Palin had won the debate.   The overriding theme was "we're mad as hell, and we're not going to take it anymore".  The global gestalt is that we should no longer trust those who say they can lead or regulate us.  No one is taking that for granted any longer.  The regulators failed miserably, allowing less than ethical, and  perhaps criminally responsible individuals and/or institutions to almost bring down the American economy.   We in healthcare have always been suspicious about government capabilities.

Does this also apply to healthcare??  Will healthcare be the beneficiary of this revelation and public outcry? I think as physicians we are responsible to strengthen this connection and mindset.....

Financial Crisis

The recent financial crisis has led me to invoking Norman Vincent Peale's rule"  "Laughter is the best Medicine". for my last several posts.

There has been much angst recently, some directed at others, the Democrats, Republicans, inward, the rich, the poor....and other groups such as liberals, conservatives, leftists, rightists, and centrists who refuse to take a stand on most things.

There are some great thinkers and ideas out there that I and other's read.  Compromise means giving up some thing you  want in order to reach a common goal of bettering the system overall. Are any of us willing to do that?

As far as placing blame...scapegoats are easy to find, and maybe we do need to  clean house to clear our collective conscience.

I thought I would re-post this video....seems apropos for the times upon us.