Efficiency: Part 3
I ran across an interesting question recently. If GDP growth has averaged roughly 3% per year for the past 50 years, and inflation also averaged around 3% per year over…
Efficiency: Part 2
I had a classmate in my MBA program who left his job as an equity analyst to come back to college to get an MBA. The longer-term goal was to…
Efficiency: Part I
In the context of investing we all would like to “buy low and sell high.” A profit is made when you sell something for more than you paid for it.…
Social Security is Broke – NOT!!!
When I type the phrase “social security crisis” into a Google search bar I get 654,000,000 results in 0.5 seconds. It seems safe to say that the impending shortfall (if…
Are Speech Contests a Good Idea?
If you have ever considered participating in a public speaking contest, let me tell you how this works and why you may want to give it a try. I am…
Retirement statistics are not lies but . . .
In the realm of retirement planning, statistics get thrown around with reckless abandon. Most of these statistics are meant to convey the idea that the "RETIREMENT CRISIS" is upon us,…
4 Percent nonsense
When economists speak about financial risk, and investor behavior the term "utility" comes up time and time again, and it seems safe to say that much confusion arises due to…
We need a process to improve a healthcare process
Almost any short visit to your nearest hospital will leave you with the notion that something here can be done better. Waiting times abound even though many people seem to…
Simulate, Simulate, Simulate
Imagine you are a new Physician working in a group practice as part of an Academic Medical Center (AMC). You may be surprised to learn that you are soon expected…
You can’t outrun the law
At some point during the first session of our courses on Operations Management, Process Improvement, or Managing Health Care Processes we find the need to understand and utilize Little's Law.…