INVESTMENT ADVISORY & PORTFOLIO OPINIONS, MEDICAL START-UPS, ESTABLISHED PRACTICE VALUATIONS, BUSINESS MANAGEMENT AND EXPERT WITNESS CONSULTING
If you’re looking at this tab, chances are you are fed up, burned out, seeking practice management techniques or a better work-life balance; looking for a new non-clinical career, thinking of finance, investing, retirement, or all of the above. Perhaps you are just looking to regain the joy and meaning in your medical or professional career?
And so, we can help. From informal coaching and mentoring – to second opinions and more formal business, legal and/or financial consulting. Regardless, the need is real.
No Worries! You may have come to the right place.
A Fiduciary At Your Service
WHAT IS A FIDUCIARY?
Asking any “consultant” if they’re a fiduciary isn’t always enough to hire them. People can “ice skate” around that terminology and give fuzzy or unclear answers to that question. Instead, you may consider asking them to sign a fiduciary oath. “If someone is fee-only, not “fee-based”, they shouldn’t have a problem signing a document stating how they get compensated. If someone is, for example, a stock broker, dealer, insurance agent or investment advisor who works on commissions, they probably wouldn’t be allowed to sign it.” Just say NO to contract arbitration clauses, too! As well as “dual registration.” Remember Bernie Lawrence Madoff or Sam Bankman-Fried?
THE FIDUCIARY OATH
This one-page document outlines five fiduciary principles a coach, mentor, consultant or financial adviser must follow to put the client’s interests ahead of their own. They include acting with prudence, not misleading the client, avoiding conflicts of interest, and disclosing and managing unavoidable conflicts and fees.
The oath, meant to be printed out and signed by an adviser, has been around for several years. But recent events, such as the 5th Circuit Court of Appeals striking down the DOL rule, have increased the urgency to get it into circulation.
“With the 5th Circuit ruling, it is just so important to have this oath out there because it states fiduciary principles. The oath is the answer, given that the DOL rule is gone.”
TWO DECADES EXPERIENCE AS COUNSELOR
Throughout my career, I’ve been dedicated to providing medical, legal consulting and professional business, finance and management services and opinions to colleagues and executives. I am an accomplished leader in healthcare management, law, governmental affairs and international missions. As a senior/executive level consultant, I leverage my dual degrees and Wall Street IPO experience to provide actionable leadership in regulatory and business matters.
I am known for driving and implementing complex client solutions while maintaining alignment with stakeholders and managing expectations. I am an excellent listener and I quickly adapt to deal with change and crisis management challenges in a manner that results in positive outcomes. I am aware of the importance of adhering to schedules and standards, particularly when working on large-scale initiatives. I work well among diverse groups of people at all levels; senior executives, government officials, manager, attorneys, creative and/or technical personnel. I have extensive experience in leading the timely delivery of scalable, reliable, secure and supportable solutions.
We deliver what you NEED to know – Not just what you WANT to know!
TYPES OF FIDUCIARY ENGAGEMENTS
Dr. David Edward Marcinko MBA [Certified Medical Planner®] works mostly with doctors, nurses and healthcare providers who struggle with professional disillusionment, burnout, financial distress and an unbalanced life–all of which can happen at any stage of a burgeoning career. Through our coaching sessions medical colleague, nurses, executives and other professionals can achieve a more meaningful, purposeful and flourishing life.
Wee even render second opinions and assist Do-It-YourSelfers!
Consider these problem areas:
Medical Practice Business Management [Start-Up, Operations and Strategies]
- Daily operations
- Governance and Leadership
- Human Resources
- Data Analytics
- Revenue Expansion
- Physician Recruitment and Transition
- Physician Compensation
- Practice Administration
- IT Technology
- Internal Controls
- Patient Flow Processes; etc
- DIY: https://www.amazon.com/Business-Medical-Practice-Transformational-Doctors/dp/0826105750/ref=sr_1_9?ie=UTF8&qid=1448163039&sr=8-9&keywords=david+marcinko
Medical Practice Economic Management [Finance and Managerial Accounting]
- Revenue Cycle Management
- Improved Revenue Cycle Process
- Supply Chain Management
- Accounts Receivable and Denials Management
- Review and Improve Billing and Collection Procedures
- Financial Reporting, Analysis, and Bench-Marking
- Key-Performance Indicators [KPIs]
- Payer Negotiations and Contracting; etc
- DIY: https://www.r2library.com/Resource/Title/082610254
Medical Practice Risk Management [Present and Emerging Perils]
- Integrated Delivery Systems
- Mergers and Acquisitions
- Practice Valuations
- Ambulatory Surgery Centers [ASCs]
- ACOs, P4P and Medical Capitation Reimbursement
- Complete Practice Assessments
- Practice Marketing, Advertising and Sales
- Crisis and Change Management; etc.
- DIY: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989
Personal Financial Planning [Comprehensive with Best Practices]
- Facilitate Goal Setting
- Assist with Sale and /or Practice Transition
- Asset Management and Performance Review
- Risk Management
- Insurance and Annuity Analysis
- Education Planning
- Investment Review
- Wealth Management
- Estate Planning
- Retirement Planning
- Asset Protection Strategies
- If applicable, we work directly with your personal CPA, financial planner and/or estate attorney; etc.
- DIY: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
EXPERT WITNESS LITIGATION SUPPORT
[Lawyers, Discovery, Settlements and Trials]
What is an Expert Witness?
An expert witness is a person who possesses specialized knowledge or expertise in a particular field, and who is qualified to provide testimony in court. This testimony can be based on their personal experience, education, training, or research. The role of an expert witness is to provide objective and unbiased opinions, analysis, and insights to help the judge and jury understand technical or complex issues related to the case. An expert witness can be called by either the prosecution or the defense in a legal case. The expert witness may be required to provide a written report detailing their opinions, analyses, and conclusions, and they may be asked to testify in court to provide oral testimony and answer questions from the judge and lawyers.
Professor David Edward Marcinko is a Federal and State court approved expert witness featured in hundreds of peer reviewed medical, business, economics, finance, legal, management and trade publications. He can assist as Expert Witness in these types of formal legal situations, among others:
Partner / Associate Dissolution, Marital Dissolution, Case Validation, Damage Assessment, Calculation Lost Profits, Response to Discovery, Rendering Preliminary Reports, Preparing Expert Reports, Critiquing Third-Party Appraisal Reports, Preparing Interrogatories for Litigation, Advising in Matters of Finance, Forensic Accounting, Source of Funds Analysis, Investing and Valuation, Assisting During Mediation, Preparing Witness Depositions, Providing Deposition and Trial Testimony, Preparation of Damage Models and Rebuttal of Damage Models; etc.
MORE SERVICES: https://healthcarefinancials.files.wordpress.com/2009/02/imba-inc-firm-services.pdf
Download: Complimentary “Free” Resources [Medical Practice Worth, Valuation, Sales and Succession Planning]: Part (1) – Part (2) – Part (3)
“COMPETITIVE ADVANTAGE”: Advice Only-Fee Only-Formidable-Of Counsel
Disclaimer: I may be retained as a subject matter expert and/or advisor to work with attorneys but I do not render legal opinions.
CONTACT: Ann Miller RN MHA CMP™
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