Death Panel Myth Debunked - Prioritizing Patient Education

American healthcare’s mostly fee-for-service reimbursement model encourages doctors to order tests and procedures so as to make a reasonable living from practicing medicine. There is no incentive to have conversations with patients. Unfortunately, when their patients have to face decisions about what they want to happen (or not happen) as they near death, they need to talk over their options-- not receive a final MRI. When Obamacare was in its formative stage, a provision was introduced that would have required Medicare to pay for a voluntary discussion about advance directives and end-of-life treatment preferences. Geriatricians, palliative care doctors and hospice staffers welcomed this potential statutory provision, but the political opposition for whom the entire Affordable Care Act was anathema went ballistic. They made accusations that this was the precursor to government-sponsored euthanasia, or as Sarah Palin infamously put it, “death panels”.

 

Seven years of increasing public recognition that end-of-life issues were humane and necessary has recently borne fruit. Now healthcare professionals can punch in a code to bill Medicare for such discussions and receive $80-$85 for a 30-minute “consult” and $75 more for an additional half-hour interchange. Moreover, if the conversation needs to be reopened at a later date, Medicare will again provide compensation. Will this change in Medicare reimbursement solve the problem that only a third or less of patients over 75 and those with debilitating, chronic diseases presently have such interactions?

 

Certainly, there is little financial incentive, as this level of hourly reimbursement is not going to significantly impact physician income. Moreover, private insurers have not yet followed Medicare’s lead. Most importantly, the significant impediments to success are patient and physician awareness and education. Patients must be informed that these services exist and are available and that they are not tantamount to signing a consent form to withhold all further medical treatment. The documents generated and options chosen must be known to families and available at points of service, not left in drawers and safes. Appointed healthcare proxies must know they have been selected to fulfill their role. On the other side of the conversation, the medical community has not suddenly been endowed with the ability to respectfully broach and explore these very sensitive subjects. These kinds of communications require training and perhaps certification of aptitude.

 

So will there be a sudden surge in end-of-life discussions? Probably not, but the Federal Government is the elephant in the room and has taken the first step and sent a powerful message about the value of these conversations. Even a journey of a thousand miles requires an initial step.

 

By Norman Silverman, MD, with Ryan McKennon, DO and Ren Carlton

 

Make Angel Investments That Go 10x, Unleashing Monster Returns for a Family Juice Business

I look for angel investments that have the potential to produce a 10x return on my investment in 5 years. Startup investing is one of the more risky investment categories. Therefore, you should expect these businesses to have the possibility of doing well. If you invest in 10 businesses, and nine of them fail, the remaining business needs to give you a 10x return just to break even. Ideally, you will do better than that and enjoy healthy returns.

Build Your List of Potential Investors, Pitch Investors Properly, How Kevin Systrom Raised $500,000 in Two Weeks to Launch InstagramFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 12

Most startups need funding at some point. Once you have the addressed all of the items in the previous episodes, it is time to build your list of potential investors and start the conversations. They can be friends, family, social network, social media contacts, work colleagues, people in the business industry, etc. Try to put together a list of at least one hundred people. A list of one hundred potential investors may seems like a lot, but the more people you have on the list, the better your chances are of success.

Making Money With Your Business, Profit and Cash Flow, Five Sustainable Companies That Make a Lot of MoneyFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 10

It is time to make money! You have been through a couple of rounds of market testing now you feel like you are on to something. The next step is to run the numbers to make sure that the business is sustainable. There are two sides to making money, profitability and cash flow.

Why Competition Is Good For Entrepreneurs and How Blockbuster’s $50 Million Mistake Helped Reed Hastings and Netflix Destroy a $6 Billion Empire Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Epis

When battling for resources or investment, early-stage entrepreneurs may believe that competition is a bad thing. On the surface, they are correct. There are a limited number of angel investors willing to provide a finite amount of venture capital to founders.

Upscaling and Scaling Business Ideas into Reality – Jeff Bezos takes Amazon from Online Bookstore to Global DominanceFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 4

Congratulations, your market testing worked and you were able to find customers, or at least one customer. Your beta test was successful and you are confident that you are ready for more. What do you do when you start getting customers or users? I recommend you do some scaling or upscaling.

What Kind of Business Should You Start? – How Mark Zuckerberg Pivoted From Rating Hotness to FacebookFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 1

When it comes to brainstorming startup ideas, new entrepreneurs and even seasoned ones scratch their heads in confusion. Living in the information age, you can scan the current market and see countless new business ideas. With so many options out there, how do you know which one is right for you?

Why Would a Doctor Abandon a Steady Paycheck to Become an Entrepreneur?

As physicians, we are expected to be compliant with rules, restrictions, and regulations. We are expected to be risk averse. We are expected to be “providers,” but not necessarily innovators or leaders. As the healthcare system becomes increasingly consolidated into large overcrowded clinics, we are required to perform to the standards set by bureaucrats and clinic managers. These rules are often at odds with the best interests of patients and with our sanity.
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