Professional Documents
Culture Documents
CONSULT: Real world advice, customized for you. For example, determine how the
Affordable Care Act will affect your business and what you must do now to safeguard your
practice.
ANALYZE: Using our model, identify the profit leaks in your practice. Simply, in just a few
minutes, we can show you areas of concern and options to fix.
PREDICT: Using historical data and our forecasting tools, run highly accurate what if
scenarios to determine present and future profit impacts (staff, equipment, facilities, etc.) For
example, whats the financial impact of hiring a PA or adding a new piece of equipment
youre looking at the small company stock fund or the emerging markets stock fund, undisclosed
trading expenses could be much more than what youd think (a whopping 3-5% per year). So, when
someone discourages you from using the self-directed brokerage account because of expenses,
understand that there are always two sides to every argument.
A 2015 study conducted by Empower Retirement and its subsidiary Advised Assets Group suggests
that participants who are using a managed account in their 401(k) retirement account are
outperforming by nearly two percentage points over the five year period ending March 31, 2015.
Managed accounts being available through the self-directed brokerage account.
Finally, understand that your financial advisor may have the ability to help you manage your account
only if it is allocated to the self-managed account. While many financial advisors may offer tips or
advice on which funds to use in your core plan, in all likelihood, their compliance and supervision
departments would prohibit them from doing so. Why? Legal liability. Offering advice without any
official contractual agreement (including a fee) probably voids their errors and omissions coverage
should things go awry. It is an unfortunate aspect of modern living that handshakes and goodwill are
not acceptable methods of doing business. By using the self-directed brokerage account, your advisor
may be able to be added to the account for oversight. Yes, they will be compensated for this but
consider this question. When was the last time you got something for free that was worth having?
Also consider that the average investor underperforms drastically when they invest. Dalbar recently
revealed that the average investor underperformed the stock market by 74% over the 20-year period
ending 2015. Said differently, the stock market produced a return of 8.19% while the average investor
produced a return of 2.11%. Thats more than a 6% difference. Now, the unanswerable question,
unless you have a crystal ball, is whether or not with your advisors help, you will earn more than the
added cost above and beyond what you would get by doing it ALL BY YOURSELF. Think about it.
Daniel Grote, CFP is a partner with Latitude Financial Group, LLC- an independent financial
planning firm located in Denver, Colorado advising clients in CO, CT, FL, GA, IA, ID, IL, MD, MN,
NM, NY, OH, UT, VA, WA, WI, WY. Securities offered through Securities America, Inc., a Registered
Broker/Dealer, Member of FINRA/SIPC. Advisory services offered through Securities America
Advisors, Inc., an SEC Registered Investment Advisory Firm. Daniel Grote and his business partner
Scott Cody are Registered Representatives. Latitude Financial Group and the Securities America
companies are unaffiliated. Securities America and its representatives do not provide tax or legal
advise; therefore it is important to coordinate with your tax or legal advisor regarding your specific
situation.
MD Preferred Services
We would like to invite you to join our LinkedIn group
Networking for Healthcare Professionals is all about our members and the healthcare industry
coming together. Share ideas, opinions and industry news. Establish connections with other MDP
members and share your knowledge with the healthcare field. The goal of this group is to establish
business to physician relations as well as physician to physician networking. We also hope that this
will become a resource for physicians and healthcare professionals looking for tools to help them grow
in their career or career search and meet their everyday needs.
Location for a medical office is of the utmost importance to the success of the practice it supports.
Due to changes in regulations and the market, healthcare providers are now seeking locations near
where their patients live. This trend has resulted in a retailization of care. Medical office seekers can
learn a lot from the retail industry, which has made site selection a science.
The following are factors that need to be taken into consideration when selecting a location for your
medical office:
First and foremost, what is the demographics profile for your practice? Who are your best
patients? Where do they live? And what education and income levels do they have? What are
their medical expenditures and how many doctor visits do they make a year? What is the
population to physician ratio in that particular location? Is it above 2,000?
As with retail, site selection within the desired demographics area requires visibility and
accessibility (ingress and egress) to be successful. It should be located near mass
transportation and should have an adequate Traffic Count. Is there a medical cluster
requirement that the office be located near a hospital or other complimentary medical offices
and businesses?
What are the space requirements in terms of workflow, number of patients seen daily, number
of exam rooms, consult rooms, waiting rooms, offices, labs, break rooms and computer rooms?
What size and configuration is needed, including Tenant Improvements? What utilities are
required? Is 24 hour access required? Would the landlord have access to computer rooms or
file rooms creating a potential HIPAA infraction? Is there special equipment requiring specific
floor loads? Are you planning on X-RAY or MRI? Then you must also look at shielding and
code and ordinance requirements.
What about disposal of blood-borne pathogens requirements and OSHA compliance? Is this
type of use allowed by the landlord? Do you have storage requirements? Parking needs? What
amenities are needed? What type building is required (Class A or B office or retail?) Do you
need rail access and ADA compliance?
Beware of competition; do you need an Exclusivity Clause?
What are the budget requirements when dealing with a Triple Net lease including property
taxes, maintenance and insurance costs, or the cost of tenant improvements?
With all of these considerations, the process for leasing a medical office can be complex and time
consuming. Choosing the right location requires planning and expertise. A tenant broker can help you
analyze your requirements, find the right location, and negotiate on your behalf. Tenant brokers only
represent you under BRRETA Agency law in Georgia and receive their commission from the landlord.
It is also important to work with a healthcare specialist to help you navigate through the entire
process.
For more information on this subject, or for any commercial real estate related questions or
information, youre invited to email EAnaya@BullRealty.com or call Ernie Anaya at 404-876-1640 x
130.
Do you currently work for and/or have future plans to work for a tax-exempt organization such
as a not for profit hospital or a public benefit corporation?
Are you currently enrolled in an Income Driven repayment plan and when did you first start
making payments?
To join us for a complimentary webinar to learn how best to manage your student loans, click
here
To schedule a complimentary individual consultation, click here
Or, for more information call 1-800-228-4067, email us or visit our website
What would the tax consequences be from selling assets to pay for care?
What would happen if I was forced to prematurely dispose of assets in a down market?
What would the consequences be for my family if I required care for a long period of time?
If you properly plan ahead and fund your strategy based on your particular financial picture, then you
or your designated person will maintain financial control no matter what happens.
But doesnt my health insurance cover long term care? No.
What about my disability insurance? No.
Your health policy pays for doctors, nurses, hospitals and some rehabilitative care but not for the
ongoing personal care or assistance with every-day activities. Your disability insurance replaces some
of your lost income to pay for your living expenses but not for the high cost of caregiving.
The fact is long term care doesnt happen to you. It happens to those you love, and the earlier you
take steps to address the long term care risk the lower the cost.
Take advantage of your age, your health and possible tax benefits. Doesnt it make sense to find out
more now?
What is my next step?
Contact Melissa Barnickel at 410-557-7907 or email melissa@baygroupinsurance.com or visit our
website www.baygroupinsurance.com