QUOTED in a Medscape “Medical News” article, regarding “Inflation and Healthcare: the Prognosis for Doctors”
July 12, 2022 — Michael Ashley Schulman, CFA —
I was quoted by Medscape, so in a break from my usual CIO (Check-It-Out) Reports, here is that medical news article and positive PR🙂
Is there a doctor in the house? Running Point and I were quoted July 12, 2022 in a Medscape “Medical News” article, by Lisa Mulcahy, “Inflation and Healthcare: the Prognosis for Doctors,” regarding inflation’s impact on a doctor’s practice and the cost of healthcare. The article was also picked up by Waras, Polymer Elektronik, Giachino Plastic Surgery, and KnowLedia.
“Inflation and Healthcare: the Prognosis for Doctors,” by Lisa Mulcahy, July 12, 2022
Full article link: https://www.medscape.com/viewarticle/976986
Step 1: Maintain Operational Standards
“Based on the conversations we’ve had with our physician clients that own practices, we see the potential for cost inflation to outrun revenue inflation over the next year,” says Michael Ashley Schulman, CFA, partner and chief investment officer at Running Point Capital in El Segundo, California. “Staff wages, as well as office equipment and medical supply costs, are increasing faster than insurance and Medicare/Medicaid reimbursement amounts.”Step 4: Revisit Vendor Relationships
Be proactive. “Test new medical suppliers,” Schulman advises. “Reread equipment leasing contracts to check if the interest rates have increased. See if buyout, prepay, or refinancing options are more economical. Also, investigate [bringing down] your rental expense by reducing square footage or moving to a lower-cost location.”Step 6: Be Poised to Pivot
Get creative. “To minimize a profit decline, use video consulting — it’s more efficient and less equipment-intensive,” Schulman says. “Look at how remote work and flexible hours can maximize the work your practice accomplishes while cutting office costs.”
Make it a great week😊
Michael
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Michael Ashley Schulman, CFA
Partner & Chief Investment Officer
Running Point Capital Advisors
“We deliver custom investment solutions, innovations, and unique perspectives to you and your family.”
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Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-22-40
Also posted on LinkedIn.
