BUSINESS OF MEDICAL PRACTICE
[Transformational Health 2.0 Profit Maximization for Savvy Doctors] – 3rd edition
About the Editor-in-Chief
Dr. David Edward Marcinko; MBA, CMP™
Founding Editor-in-Chief of the first and second editions, Dr. David E. Marcinko is a highly regarded health economist, medical management consultant, syndicated journalist and financial planning evangelist from Loyola University in Baltimore, Maryland. He earned a medical degree from Temple University in Philadelphia, a business degree from the Keller Graduate School of Management in Chicago, and completed his internship at the Atlanta Hospital and Medical Center (AHMC), where he also served as chief resident. He is a Fellow of the American College of Foot and Ankle Surgeons who earned a financial planning diploma from Oglethorpe University in Atlanta, and worked as a certified financial planner and investment advisor for more than a decade. As president of a privately held regional physician practice management corporation in the Midwest, Dr. Marcinko consolidated 95 solo medical practices with $50 million in revenues despite an aborted IPO attempt in 1998, due to adverse market conditions. A nationally known advocate of Health 2.0, he is a pioneer in utilizing technology to improve education while simultaneously reducing delivery costs. He was managing partner of a successful Ambulatory Surgery Center [ASC] that was sold to a public company; and interim Chief Visionary Officer for a B2B telecommunications firm that failed in its venture capital bid, but flourished in the private sector.
Dr. Marcinko held Georgia State insurance and general securities (Series # 7), uniform securities state law (Series # 63) and registered investment advisory representative (Series # 65) licenses from the National Association of Securities Dealers (NASD/FINRA). He was a Certified Physician in Healthcare Quality (CPHQ); American Board of Quality Assurance and Utilization Review Physician (ABQAURP); member of the American Society of Health Economists (ASHE); American Health Information Management Association (AHIMA); Healthcare Information and Management Systems Society (HIMSS); member of the Microsoft Corporation’s Professional Accountant’s Network (MPAN); and a member of the Microsoft Health User’s Group (MS-HUG). He was also a member of the Sun Executive Boardroom program [Oracle] sponsored by former CEO Jonathan Schwartz; and SUNSHINE [Solutions for Healthcare Information, Networking and Education]. And, after a stint as a visiting business school professor, was appointed Chief Executive Officer of the Institute of Medical Business Advisors, Inc. In 2006, iMBA Inc launched the online Certified Medical Planner™ educational program for physician focused fiduciary advisors and management under his direction.
A thought-leader, Dr. Marcinko has been cited in journals like: Managed Care Executives, Healthcare Informatics, Medical Interface, Teaching and Learning in Medicine, Journal of the American Medical Association (JAMA.ama-assn.org); Business Journal for Physicians and Physician’s Money Digest. He often writes for professional organizations like the Medical Group Management Association (MGMA), American College of Medical Practice Executives (ACMPE), American College of Physician Executives (ACPE), American College of Emergency Room Physicians (ACEP) and PhysiciansPractice.com. His works have been redacted by academic institutions like the UCLA School of Medicine, Medical College of Wisconsin, University of North Texas Health Science Center, Washington University School of Medicine, Emory University School of Medicine, and the Goizueta School of Business at Emory University, University of Pennsylvania Medical and Dental Libraries, Southern Illinois College of Medicine, University at Buffalo Health Sciences Library, University of Michigan Dental Library, and the University of Medicine and Dentistry of New Jersey, among many others. His thousands of insightful blogs, informative posts and health 2.0 internet comments are legendary [www.MedicalExecutivePost.com]. Dr. Marcinko runs a popular and influential blog and speaks on related topics throughout this country and Europe in an entertaining and witty fashion. He is available to colleagues, clients and the media at the corporate office in Atlanta, or www.MedicalBusinessAdvisors.com
About the Managing-Editor
Professor Hope Rachel Hetico; RN, MHA, CMP™
Hope Rachel Hetico received her nursing degree (RN) from Valpariso University and her Master of Science Degree in Healthcare Administration (MHA) from the College of St. Francis, in Joliette, Illinois. She is author’s editor of more than a dozen major textbooks and is a nationally known expert in managed medical care, medical reimbursement, case management, health insurance, utilization review, National Association of Healthcare Quality (NAHQ) rules, Health Education Data Information Sets (HEDIS), and Joint Commission on Accreditation of Healthcare Organizations (JCAHO) regulations [the Joint Commission]. She was also national corporate Director for Medical Quality Improvement at Apria Healthcare, a public company in Costa Mesa, California. Prior to joining iMBA Inc., as Chief Operating Officer, Ms. Hetico was a hospital executive, financial advisor, insurance agent, Certified Professional in Healthcare Quality (CPHQ), and distinguished associate professor of healthcare administration at a local graduate school of business and management.
Today, she is a Senior Linguistic Docent for iMBA, and a sought-after speaker, blogger and devotee of online andragogy. Ms. Hetico is responsible for leading the firm to the top of the exploding adult educational marketplace, expanding the online and on-ground www.CertifiedMedicalPlanner.com [CMP™] charter designation program, and nurturing the company’s rapidly growing list of private and institutional clients. Currently, Professor Hetico is on assignment for Resurrection Health Care in Chicago, Illinois.
About the Project Manager and Webmaster
Mackenzie H. Marcinko
The project manager and webmaster for BusinessofMedicalPractice.com is Mac Marcinko, an information technology and business management intern from the Marist School, Atlanta Georgia.
- Dr. Gary L. Bode; MSA, CPA, CMP™ [Hon] – University of North Carolina
- Vicki L. Buba; JD – Brandeis University School of Law and the University of Louisville
- Render S. Davis; MHA, CHE – Emory University and the Crawford Long Hospital, Atlanta, GA
- Suzanne Dewey; MBA – Boston University and Occidental College
- Dr. Charles F. Fenton III; Esq – Temple University and the Georgia State University School of Law
- Eric Galtress – Los Angeles Department of Health
- Dr. Brian J. Knabe; CFP®, CMP™ – Marquette University Medicine and the University of Illinois
- Parin Kothari; MBA – Syracuse University, NY
- Dr. Richard J. Mata; MS, CMP™ [Hon] – Johns Hopkins University Medicine, Baltimore and the Texas State University
- Carolyn Merriman; FRSA – Corporate Health Group, RI
- Dr. Brent A. Metfessel; MS, CMP™ [Hon] – University of Minesota Medicine and the University of California [San Diego]
- Mario Moussa; PhD, MBA – University of Chicago and the Wharton School, PA
- Rachel Pentin-Maki, RN, MHA, CMP™ [Hon] – Lewis University, IL
- Dr. Emad Rizk – McKesson Health Solutions, GA
- Eugene Schmuckler; PhD, MBA, CTS™ – Louisianna State University
- Shahid N. Shah; MS – Pennsylvania State University and the University of Maryland, MD
- Susan C. L. Theuns; PA-C, CPC, CHC – Union Memorial Hospital, MD
- Jennifer Tomasik; MS – Harvard University, MA
- Patricia A. Trites; MPA, CHBC, CMP™ [Hon] – Western Michigan University, MI
And so, feel free to join us and ask these and other experts, readers, contributors and colleagues.
Ann Miller; RN, MHA [Executive-Director]
PROFESSIONAL RESUME OF CONTRIBUTING AUTHORS
Dr. Gary L. Bode; MSA, CPA, CMP™ [Hon]
Gary L. Bode was managing partner of a multi-office medical group practice for a decade before earning his Master’s of Science degree in Accounting from the University of North Carolina. As a Certified Public Accountant he is a nationally known author, speaker and Chief Accounting Officer for the Institute of Medical Business Advisors, Inc. Areas of expertise include producing customized managerial accounting reports, office appraisals and valuations, restructurings and standard financial accounting; as well as proactive tax positioning and tax return preparation for small to medium sized healthcare entities. Dr. Bode holds the Certified Medical Planner™ charter designation.
Render S. Davis; MHA, CHE
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 Emory University Hospital Midtown (formerly Emory Crawford Long Hospital). 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. He was the 2008 recipient of the Health Care Ethics Consortium’s Heroes in Healthcare Ethics Award.
Suzanne R. Dewey; MBA
Suzanne R. Dewey founded Forté Partners, LLC in 2007, after twenty years of marketing experience directing strategic planning endeavors for doctors, medical practices, hospitals, related non-profit organizations and start-up businesses. As a nationally known speaker and change agent, she develops and places tracking systems for private concierge medical practices. Ms. Dewey holds a Bachelor of Arts Degree from Occidental College and graduated from Boston University with an MBA in health care management.
Dr. Charles F. Fenton III; FACFAS, Esquire
Charles F. Fenton, III is General Counsel for iMBA, Inc. He initially graduated from Stonehill College outside Boston, and Temple University in Philadelphia. As a board certified foot and ankle surgeon, he later was valedictorian from the Georgia State College of Law. A known health law expert, he has been quoted in the Wall Street Journal, Georgia Law Review, Trial magazine, and numerous other medical-legal-financial publications for physicians and the Bar. Dr. Fenton focuses on healthcare liability, asset protection, risk reduction issues and third party payer recoupment actions. He is a member of the Association of Trial Lawyers and American Jurisprudence Council. He has served as co-council to clients in Connecticut, Florida, Iowa, Kentucky, New Jersey, Pennsylvania, Texas, and Washington State.
Eric Galtress held executive level positions in the Human Resources Outsourcing (HRO), Professional Employer Organization (PEO) and Aerospace Industries in the areas of contract management, operations, marketing and business development. He brings a consultative approach and personal commitment to providing the healthcare and business communities with practical and tailored solutions to reduce costs and liabilities, while improving productivity. As a business strategist, he developed and spearheaded a highly successful human resources outsourcing program for the County of Los Angeles Department of Health Services; the first of its kind, whose goal was to reduce health administration and workplace management costs. Mr. Galtress has authored chapters in textbooks and contributed many articles for the World Trade Association, aerospace, business services, garment and healthcare industries. Formerly, he served as Director of International Programs and COO of a privately held aerospace distributor and Sr. VP, COO and Board Member of a training, education and media company.
Dr. Brian J. Knabe; CFP®, CMP™
Brian Knabe is a financial advisor with Savant Capital Management, and a magna cum laude graduate of Marquette University, with an honors degree in biomedical engineering. He earned a medical degree from the University of Illinois – College of Medicine and attended the University of Illinois for his family practice residency, where he served as chief resident. He is also a clinical assistant professor in the Department of Family Medicine with the University of Illinois. Dr. Knabe is a member of the American Academy of Family Physicians, the American Medical Association, and the Catholic Medical Association. He holds the Certified Financial Planner® and Certified Medical Planner™ [CMP™] charter designations.
Parin Kothari; MBA
Parin Kothari is a seasoned marketing, advertising and management consultant with focus on strategy and operations. He earned his MBA from Syracuse University in New York and has a decade of experiences spanning various industries from automobiles & advertising to healthcare, business and financial services. As Vice President of business architecture at Wells Fargo Bank, one of the leading financial institutions in US, Parin consults on realizing business strategy using information technology. He has presented at leading banks in Canada, Israel, Turkey and New Zealand, and is also a guest lecturer at Syracuse University. Besides working for the infamous banking industry, Parin is also a strong supporter of non-profit work in the field of primary education and healthcare. He works with several schools and non profit organizations in the San Francisco Bay area, as well as in developing countries such as Palestine, India, Cambodia and Iraq.
Carolyn Merriman; FRSA
Carolyn Merriman is president and founder of Corporate Health Group LLC, providing consultation on customer-focused healthcare strategies for physicians, employers, payers and consumers. She is co-author of Physician Relations Today [A Model for Growth], A Comprehensive Guide to Occupational Health Sales and Marketing, and author of Sales Check-Up, a monthly newsletter for health care sales staff. She is nationally recognized as a contributor to health care and training journals and is a frequent national speaker for organizations such as the American Hospital Association Society for Healthcare Strategy & Market Development (SHSMD), Forum for Healthcare Strategists, State Hospital Associations, Radiology Business Management Association (RBMA), Ryan-NAOHP, and Healthcare Financial Management Association (HFMA). Ms. Merriman is a member of National Speaker’s Association (NSA) and American Society for Training and Development (ASTD). She holds a Bachelor’s degree in Fine Arts and is a lifetime Fellow of the Royal Society. She served on the board of directors for the American Hospital Association Society for Healthcare Strategy and Market Development (SHSMD), and the New England Society of Healthcare Communicators (NESHCo).
Dr. Brent A. Metfessel; MS, CMP™ [Hon]
In his fifteen years of experience in managed care informatics, Brent A. Metfessel created and enhanced numerous physician practice reporting and analytic technologies using industry-standard case-mix and risk-adjustment methodologies, as well as designing medical care quality measures based on clinical practice guidelines. He is a visionary in the application of the industry-leading clinical episode of care methodology to health care databases, with experience in general computer science, statistical analysis, artificial intelligence, and computational biology. His expertise extends to the analysis of scientific studies on the efficacy and risks of new medical treatments and technologies. Dr. Metfessel created a number of Technology Assessment Reports for the Institute of Clinical Systems Improvement in Bloomington, Minnesota. He received his Master of Science degree, in Health Informatics, from the University of Minnesota, and his Medical Doctorate from the University of California, San Diego. He also holds a professional Certificate, in Management for Physicians, from the University of St. Thomas. Presently Dr. Metfessel is a Senior Medical Informaticist.
Mario Moussa; PhD, MBA
Mario Moussa is an expert on organizational change and communication who received his MBA from the Wharton School, with Ph.D. from the University of Chicago’s Committee on Social Thought. He is Co-director of Essentials of Management Program, Aresty Institute, the Wharton School. Dr. Moussa has published widely in the field of social theory and is an experienced speaker at conferences throughout North America and Europe. His areas of specialization are strategy and strategy implementation, organizational design, cross-functional teams and change management. He is the co-author (with G. Richard Shell) of The Art of Woo: Using Strategic Persuasion to Sell Your Ideas (Portfolio/Penguin, 2007). His clients include many of the country’s major corporations and nonprofit institutions.
Rachel Pentin-Maki, RN, MHA, CMP™ [Hon]
Rachel Pentin-Maki received her nursing degree from the Community College of Springfield, Ohio, and her Master’s Degree in Healthcare Administration from Lewis University, in Evanston, Illinois. Formerly, she helped edit several medical and business textbooks and is a nationally known expert in business staffing and human resource management. Prior to joining the Institute of Medical Business Advisors as Chief Operating Officer, she was the administrator and director of human resources at the Finnish Rest Home, Lantana, Florida. Currently on sabbatical, she is on the Board of Directors at Finlandia University (Suomi College), in Hancock, Michigan, and leads the iMBA Helsinki, Finland initiative.
Eugene Schmuckler; PhD, MBA, CTS™
Eugene Schmuckler was Coordinator of Behavioral Science at the Georgia Public Safety Training Center and is a licensed psychologist from the Louisiana State University. He is on the board of directors of the Association of Traumatic Stress Specialists and is a certified trauma specialist. Dr. Schmuckler is an international speaker and author, with publications translated into Dutch and Russian. He is Director of Mentoring, Coaching, and Behavioral Finance, and Dean of Admissions for the online Certified Medical Planner™ professional designation program of the Institute of Medical Business Advisors, Inc.
Shahid N. Shah; MS
Shahid N. Shah is an internationally recognized healthcare thought-leader across the Internet. He is a consultant to various federal agencies on technology matters and winner of Federal Computer Week’s coveted “Fed 100” Award, in 2009. Over a twenty year career, he built multiple clinical solutions and helped design-deploy an electronic health record solution for the American Red Cross and two web-based eMRs used by hundreds of physicians with many large groupware and collaboration sites. As ex-CTO for a billion dollar division of CardinalHealth, he helped design advanced clinical interfaces for medical devices and hospitals. Mr. Shah is senior technology strategy advisor to NIH’s SBIR/STTR program helping small businesses commercialize healthcare applications. He runs four successful blogs: At http://shahid.shah.org he writes about architecture issues; at http://www.healthcareguy.com he provides valuable insights on applying technology in health care; at http://www.federalarchitect.com he advises senior federal technologists; and at http://www.hitsphere.com he gives a glimpse of HIT as an aggregator. Mr. Shah is a Microsoft MVP (Solutions Architect) Award Winner for 2007, and a Microsoft MVP (Solutions Architect) Award Winner for 2006. He also served as a HIMSS Enterprise IT Committee Member. Mr. Shah received a BS in computer science from the Pennsylvania State University and MS in Technology Management from the University of Maryland.
Susan C. L. Theuns; PA-C, CPC, CHC
Susan Theuns has an extensive background in healthcare, business management, facilities/operations and compliance that spans three decades. She holds degrees in Allied Health and Business Management and has been a Certified Physician Assistant for 32 years. She is also a Certified Professional Coder and is certified in Healthcare Compliance. Susan has published a variety of articles for Coding Edge, Healthcare Compliance Today, and the Group Practice Journal and serves on the Advisory Board for Ingenix. Her professional memberships and affiliations include the American Medical Group Association, National Honor Society in Business Administration (Delta Mu Delta), Health Care Compliance Association, American Academy of Professional Coders, and the National Commission on Certification of Physician Assistants. She was MedStar Health’s Compliance Director of the Year in 2003 and is currently Administrative Director of Physician Practices for Union Memorial Hospital in Baltimore, Maryland.
Jennifer Tomasik; MS
Jennifer Tomasik co-leads CFAR’s Health Care practice. She works with her clients to solve complex strategic and organizational challenges, and helps them create the capabilities they need to tackle similar challenges on their own, once the engagement is complete. Her approach to consulting emphasizes communication and collaboration, supported by rigorous analytics. Ms. Tomasik has worked in the health care sector for nearly 15 years, with expertise in public health, clinical quality measurement, strategic management, and organizational change. Her clients include some of the most prestigious hospitals, health systems and academic medical centers in the country. Jennifer has a Master’s Degree in Health Policy and Management from the Harvard School of Public Health. She is a founding member of CFAR’s focus area on, Negotiation and Telling the Strategy Story.
Patricia A. Trites; MPA, CHBC, CMP™ [Hon]
Patricia Trites is CEO of Healthcare Compliance Resources, and holds a Master’s Degree in Public Administration, specializing in Healthcare, from Western Michigan University. She is a college instructor in Healthcare Administration with intensive coding and reimbursement training protocols. She is a noted speaker for national healthcare industry conventions, who conducts compliance guidance in the areas of billing and reimbursement, OSHA, CLIA, and employment law. Her professional memberships and affiliations include: The American Compliance Institute, Medical Group Management Association (MGMA), Independent Accountants Association of Michigan, National Association of Health Care Consultants, Institute of Certified Professional Healthcare Consultants, American Academy of Professional Coders and Trustee, and the Institute of Certified Healthcare Business Consultants.