That's tough to say bc we're in such a hole, but without writing an economic essay I'll give a few simple opinions. First, no more bailouts and no more stimulus packages. That simply equates to stop printing more money! It baffles me how anyone can conceive that if we just print more money it will solve all our problems. Second, we have to raise interest rates. There is no possible way with banks keeping interest rates so low, some at as little as 0-1%, that good things will come. Third, the govt has to cut some social programs. I'm not going to get on a platform and say which ones, but there is entirely too much money being wasted by the govt on bullshit programs. Fourth, if the Fed is to stay in existence (which imo it shouldn't even be an entity) it (or Bernanke) needs to disclose where billions, hell trillions, of dollars have been distributed. The American ppl have a right to know where this money is being passed around. I say this bc the Fed's lending contributed to this problem we have now. They have 0 accountability and that has to change. Just a few simple thoughts. The issue certainly runs deeper than what I've stated, but these things just scratch the surface.
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Quote Originally Posted by JohnAlz:
That's tough to say bc we're in such a hole, but without writing an economic essay I'll give a few simple opinions. First, no more bailouts and no more stimulus packages. That simply equates to stop printing more money! It baffles me how anyone can conceive that if we just print more money it will solve all our problems. Second, we have to raise interest rates. There is no possible way with banks keeping interest rates so low, some at as little as 0-1%, that good things will come. Third, the govt has to cut some social programs. I'm not going to get on a platform and say which ones, but there is entirely too much money being wasted by the govt on bullshit programs. Fourth, if the Fed is to stay in existence (which imo it shouldn't even be an entity) it (or Bernanke) needs to disclose where billions, hell trillions, of dollars have been distributed. The American ppl have a right to know where this money is being passed around. I say this bc the Fed's lending contributed to this problem we have now. They have 0 accountability and that has to change. Just a few simple thoughts. The issue certainly runs deeper than what I've stated, but these things just scratch the surface.
I see this all the time? What does that mean anyway? if you are unemployed, or somewhat scraping by, how are you able to be prepared? What if you are doing alright and things are smooth, how are you supposed to prepare then? I hear this all the time, but no one says "how to prepare". It sounds like just a common slogan that no one really knows what it means. If the dollar ends up being lower in value due to excess printing, what are we supposed to do?
Id like to hear some thoughts on this...
My opinion is to simply not allocate all of your savings and investments in the dollar. That means buy something, or invest in something that is not attached to the dollar, such as commodities. I would encourage you to look into things such as silver, copper, agriculture, and if you can afford it, gold. Natural gas stocks are also something to consider. The value of commodities is still rising, while the value of the dollar is slowly decreasing. You don't have to buy physical commodities either. A way of avoiding this is to buy ETF's in the said commodities. Simply stated, you don't want to have all your money in the stock market, or just sitting in a savings account. If you are going to invest heavily in the stock market, invest in things that are not attached to the dollar. In the past, many invested in real estate as it was seen as a safe investment, but look what happened with that. Sadly, with the way interest rates are we could see a mini bubble in the housing market once again. A lot of people will disagree with me, but a lot of people said the initial housing bubble would never happen and the stock market wouldn't crash. Just my opinion.
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Quote Originally Posted by CrusCrnshw:
I see this all the time? What does that mean anyway? if you are unemployed, or somewhat scraping by, how are you able to be prepared? What if you are doing alright and things are smooth, how are you supposed to prepare then? I hear this all the time, but no one says "how to prepare". It sounds like just a common slogan that no one really knows what it means. If the dollar ends up being lower in value due to excess printing, what are we supposed to do?
Id like to hear some thoughts on this...
My opinion is to simply not allocate all of your savings and investments in the dollar. That means buy something, or invest in something that is not attached to the dollar, such as commodities. I would encourage you to look into things such as silver, copper, agriculture, and if you can afford it, gold. Natural gas stocks are also something to consider. The value of commodities is still rising, while the value of the dollar is slowly decreasing. You don't have to buy physical commodities either. A way of avoiding this is to buy ETF's in the said commodities. Simply stated, you don't want to have all your money in the stock market, or just sitting in a savings account. If you are going to invest heavily in the stock market, invest in things that are not attached to the dollar. In the past, many invested in real estate as it was seen as a safe investment, but look what happened with that. Sadly, with the way interest rates are we could see a mini bubble in the housing market once again. A lot of people will disagree with me, but a lot of people said the initial housing bubble would never happen and the stock market wouldn't crash. Just my opinion.
Our economy is a giant pyramid scheme. When the fabric of our society relies on infinite growth on a finite planet, you can see what our future holds in store for us. Especially considering most of the worlds economy is solely dependent on oil, which is at or past its peak of production. Combine that with the population boom we have had over the last century, and you can start to see how shit is really going to hit the fan. Prepare yourself!
OK Chicken Little - just when will the sky fall down?
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Quote Originally Posted by CMo256:
Our economy is a giant pyramid scheme. When the fabric of our society relies on infinite growth on a finite planet, you can see what our future holds in store for us. Especially considering most of the worlds economy is solely dependent on oil, which is at or past its peak of production. Combine that with the population boom we have had over the last century, and you can start to see how shit is really going to hit the fan. Prepare yourself!
OK Chicken Little - just when will the sky fall down?
I see this all the time? What does that mean anyway? if you are unemployed, or somewhat scraping by, how are you able to be prepared? What if you are doing alright and things are smooth, how are you supposed to prepare then? I hear this all the time, but no one says "how to prepare". It sounds like just a common slogan that no one really knows what it means. If the dollar ends up being lower in value due to excess printing, what are we supposed to do?
Id like to hear some thoughts on this...
Buy lots of food, guns, and ammo.
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Quote Originally Posted by CrusCrnshw:
I see this all the time? What does that mean anyway? if you are unemployed, or somewhat scraping by, how are you able to be prepared? What if you are doing alright and things are smooth, how are you supposed to prepare then? I hear this all the time, but no one says "how to prepare". It sounds like just a common slogan that no one really knows what it means. If the dollar ends up being lower in value due to excess printing, what are we supposed to do?
My opinion is to simply not allocate all of your savings and investments in the dollar. That means buy something, or invest in something that is not attached to the dollar, such as commodities. I would encourage you to look into things such as silver, copper, agriculture, and if you can afford it, gold. Natural gas stocks are also something to consider. The value of commodities is still rising, while the value of the dollar is slowly decreasing. You don't have to buy physical commodities either. A way of avoiding this is to buy ETF's in the said commodities. Simply stated, you don't want to have all your money in the stock market, or just sitting in a savings account. If you are going to invest heavily in the stock market, invest in things that are not attached to the dollar. In the past, many invested in real estate as it was seen as a safe investment, but look what happened with that. Sadly, with the way interest rates are we could see a mini bubble in the housing market once again. A lot of people will disagree with me, but a lot of people said the initial housing bubble would never happen and the stock market wouldn't crash. Just my opinion.
Interesting. Not really one to know how to invest in copper though
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Quote Originally Posted by JohnAlz:
My opinion is to simply not allocate all of your savings and investments in the dollar. That means buy something, or invest in something that is not attached to the dollar, such as commodities. I would encourage you to look into things such as silver, copper, agriculture, and if you can afford it, gold. Natural gas stocks are also something to consider. The value of commodities is still rising, while the value of the dollar is slowly decreasing. You don't have to buy physical commodities either. A way of avoiding this is to buy ETF's in the said commodities. Simply stated, you don't want to have all your money in the stock market, or just sitting in a savings account. If you are going to invest heavily in the stock market, invest in things that are not attached to the dollar. In the past, many invested in real estate as it was seen as a safe investment, but look what happened with that. Sadly, with the way interest rates are we could see a mini bubble in the housing market once again. A lot of people will disagree with me, but a lot of people said the initial housing bubble would never happen and the stock market wouldn't crash. Just my opinion.
Interesting. Not really one to know how to invest in copper though
How much of your BPO can you outsource? I know a guy who has a firm that can do your ICD9/CPT coding for probably 1/2 what you have in-house.
How much marketing do you do? Yesterday I signed a contract with a guy to assist me in our social networking. I'm paying him $500/mo. and I have a part-timer at $10/hr to Tweet, Facebook, and blog our way to manna. For less than $1300/mo., I'll get our name to potential client companies and jobs to passive seekers. 1 extra placement per year will more than make up for that. After we're set up and running smoothly, I'll be able to ween off of the $500/mo guy. You can easily determine how many new clients you'll need to offset the expense. At $75 gross cash-in per client, you'll need 17 new customers. That'll be 5 extra patients per provider per month. Also, when was the last time you called a new patient a day or so after their visit to see how they feel? Goodwill goes a long way to repeat business.
Have you had a sit-down with your landlord? I negotiated my existing lease down dramatically last year.
How close of attention do you pay to your financials? Docs do not ever seem to be that in tune to that piece and you often hear cases of embezzlement in your business. BTW, your financials can be outsourced also.
As unorthodoxed as this seems, I would ask everyone, including myself, to take a pay cut, but offer incentives and bonuses based on profitability. I would open up the books and let everyone see how much money it takes to run a business like yours and have every facet operate as a profit center. This way your employees will know how much they're business unit costs to operate and what they need to do to keep it profitable. You'll elicit their help in cost reductions and vendor negotiations. You will be astounded how innovative and smart your employees will operate. For more on this subject, read "Flight of the Buffalo."
You may want to consider utilizing another source rather than a collection agency for your bad debt. I know what I would do, but it's way out of the norm, so it's better left unsaid. Fuck it, I'll tell you. If you have 40 people who haven't paid, I'd split the debt between the 4 providers - 10 each. I'd then have each of us make 2 calls per day to those who owe. I know this sounds beneath you, but if they answer, ask how they're doing and then transfer them to one of your financial people to arrange a payment plan. If you leave a message, alert your receptiionist to automatically transfer them to your financial person. I'll assure you you'll get about a 95% return call rate - who wouldn't return a call from their Doctor? What the hell is 2 extra calls a day per person worth?
Whomever said uncommon times call for uncommon measures, is right.
good stuff. seriously, thank you.
I sometimes think I am good at business tell I see the way a real business person goes about it.
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Quote Originally Posted by callmetim:
A few questions, ideas, et al..
How much of your BPO can you outsource? I know a guy who has a firm that can do your ICD9/CPT coding for probably 1/2 what you have in-house.
How much marketing do you do? Yesterday I signed a contract with a guy to assist me in our social networking. I'm paying him $500/mo. and I have a part-timer at $10/hr to Tweet, Facebook, and blog our way to manna. For less than $1300/mo., I'll get our name to potential client companies and jobs to passive seekers. 1 extra placement per year will more than make up for that. After we're set up and running smoothly, I'll be able to ween off of the $500/mo guy. You can easily determine how many new clients you'll need to offset the expense. At $75 gross cash-in per client, you'll need 17 new customers. That'll be 5 extra patients per provider per month. Also, when was the last time you called a new patient a day or so after their visit to see how they feel? Goodwill goes a long way to repeat business.
Have you had a sit-down with your landlord? I negotiated my existing lease down dramatically last year.
How close of attention do you pay to your financials? Docs do not ever seem to be that in tune to that piece and you often hear cases of embezzlement in your business. BTW, your financials can be outsourced also.
As unorthodoxed as this seems, I would ask everyone, including myself, to take a pay cut, but offer incentives and bonuses based on profitability. I would open up the books and let everyone see how much money it takes to run a business like yours and have every facet operate as a profit center. This way your employees will know how much they're business unit costs to operate and what they need to do to keep it profitable. You'll elicit their help in cost reductions and vendor negotiations. You will be astounded how innovative and smart your employees will operate. For more on this subject, read "Flight of the Buffalo."
You may want to consider utilizing another source rather than a collection agency for your bad debt. I know what I would do, but it's way out of the norm, so it's better left unsaid. Fuck it, I'll tell you. If you have 40 people who haven't paid, I'd split the debt between the 4 providers - 10 each. I'd then have each of us make 2 calls per day to those who owe. I know this sounds beneath you, but if they answer, ask how they're doing and then transfer them to one of your financial people to arrange a payment plan. If you leave a message, alert your receptiionist to automatically transfer them to your financial person. I'll assure you you'll get about a 95% return call rate - who wouldn't return a call from their Doctor? What the hell is 2 extra calls a day per person worth?
Whomever said uncommon times call for uncommon measures, is right.
good stuff. seriously, thank you.
I sometimes think I am good at business tell I see the way a real business person goes about it.
Interesting. Not really one to know how to invest in copper though
Lol, understandably so man. It's a different kind of market so unfamiliarity is nothing to be ashamed about. It would be the same general concept of the stock market to someone who doesn't trade; there will be intimidation wherever there is uncharted ground. My advice would be to read into commodity based ETFs. The jargon can be a bit difficult to grasp, but the more you read the clearer it will become.
Don't confuse what I'm saying though. I'm not telling you to pool all your savings into this stuff. I just wanted to offer suggestions to your question Crus, bc you are right...it is easier to just say things without citing examples or opinion. Keep your IRAs and your mutual funds, but diversify! You don't want all your money in one place is really what I'm trying to get to. You wouldn't place your entire savings in one stock, or fund, so why place it all in systems that rely on the dollar? If you're really interested furthur I would encourage you to just read into commodities and agricultural and look at the influxes they have seen in the past 2-3 years. Also, look at forecasts from supporters and also opponents. It's always good to receive info from both sides. If nothing else, I hope I got the wheels turning a bit
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Quote Originally Posted by CrusCrnshw:
Interesting. Not really one to know how to invest in copper though
Lol, understandably so man. It's a different kind of market so unfamiliarity is nothing to be ashamed about. It would be the same general concept of the stock market to someone who doesn't trade; there will be intimidation wherever there is uncharted ground. My advice would be to read into commodity based ETFs. The jargon can be a bit difficult to grasp, but the more you read the clearer it will become.
Don't confuse what I'm saying though. I'm not telling you to pool all your savings into this stuff. I just wanted to offer suggestions to your question Crus, bc you are right...it is easier to just say things without citing examples or opinion. Keep your IRAs and your mutual funds, but diversify! You don't want all your money in one place is really what I'm trying to get to. You wouldn't place your entire savings in one stock, or fund, so why place it all in systems that rely on the dollar? If you're really interested furthur I would encourage you to just read into commodities and agricultural and look at the influxes they have seen in the past 2-3 years. Also, look at forecasts from supporters and also opponents. It's always good to receive info from both sides. If nothing else, I hope I got the wheels turning a bit
You certainly did! Glad I could give you a laugh! My point was civilizations older than this country have fallen before. It's ignorant to think it can't happen here. Oh and by the way, naysayers were also saying that there was no such thing as a housing bubble and the American public should have no fear in the stock market collapsing. That was less than ten years ago....
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Quote Originally Posted by callmetim:
I did pluralize that word, didn't I?
You certainly did! Glad I could give you a laugh! My point was civilizations older than this country have fallen before. It's ignorant to think it can't happen here. Oh and by the way, naysayers were also saying that there was no such thing as a housing bubble and the American public should have no fear in the stock market collapsing. That was less than ten years ago....
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. Just my opinion.
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