How badly has your business suffered in this economy? - Page 4 - The Unofficial BMW M5 Messageboard (m5board.com)

Gustav · 11th February 2009, 03:48

Lets keep out the Bush vs Obama discussion and keep the discussion focused on business and Member's business.

mockbam5 · 11th February 2009, 03:56

I'm in the internet wholesale and dropshipping diamond and jewelry business and sales my products were down about 20% in december but january is about 50% increase since last january. Still doesn't really make sense, even though valentines day is around the corner. Last year people bought gifts, this year more people are buying engagement rings. Maybe these tough times bring couples closer together??

Tiptronicsoldier · 11th February 2009, 04:12

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Quote:

Originally Posted by M5Ranger

With Medicare bankrupt or nearly bankrupt, and this our principle patient billing source it does not spell very well.
I love it when (all the time) for ex. you bill for a $100 medical procedure / service and then send you a $12 check 6 months later.
Standard across the board our group collects 29 to 30% of what is billed.

Working harder does not mean you will see a better income.
And lets not even talk about medical malpractice insurance premiums.

Has everyone heard about the socialized medicine provisions hidden in this giant disaster "stimulus bill". Language stating how the gov't will ration healthcare benifits. It is only the beginning gentlemen. If this goes through (which it will) our children are doomed. The Chinese will not continue to buy our debt. This country will NEVER get out from under this collossal Obama-mania blunder.
Keep in mind that after this one there will the next disaster to address the housing issue which has not been done.
Nobody asks this guy the tough questions. To be specific and define the measures. We do not get that kind of pass in our respective professions. He is just granted the "messiah" status.

It was outrageous to hear this morning politicians from both sides. When ask to comment about those healthcare provisions just discovered in the plan they stated they were opposed to it. They said, "if that is in the bill..." meaning they were voting on a plan they had no idea of all its components. Scary gentlemen very scary.

Ranger

As a pre-med/engineering college student holding off on applications, these issues have made me think through all my options. Money is not the issue of becoming a doctor bc they will always have work and get paid but the way healthcare is headed. It seems like it has become a strategic money game to break even and enjoy the lifestyle 4 years minimum of school and hard work after college to get where you are. With the expenses getting higher and reimbursement becoming less and less, it seems that working long hours and into old age is inevitable. I come from 3 previous generations of doctors and my father and uncle have both expressed to me the perils of today's system and where it is headed. It is sad and I believe too it may hurt the quality of health care in the future as the most qualified doctors approach retirement in the next 20 years. What pisses me off the most is how much the insurance companies seem to be making off of everything. Insurance is expensive to have yet they reimburst doctors so poorly and continue to make practical methods of medicine less desirable or completely unattainable by deciding they will not pay for a procedure. For instance injections for back pain, if done in an office by a doctor blue cross refuses to pay but if done in a surgery center they pay.

It's tough times, my boss continues to cut my pay or break off promises for hard work. I'm just happy to have a job at the moment.

jsne39m5 · 11th February 2009, 04:24

Quote:

Originally Posted by mockbam5

I'm in the internet wholesale and dropshipping diamond and jewelry business and sales my products were down about 20% in december but january is about 50% increase since last january. Still doesn't really make sense, even though valentines day is around the corner. Last year people bought gifts, this year more people are buying engagement rings. Maybe these tough times bring couples closer together??

I too have seen an increase this month, but was 35% down in Nov and 30% down in Dec, that is when I try and get "toy" money......none this year

glad to here your numbers are rising also, engagement rings have been up!

htownM5 · 11th February 2009, 04:26

Quote:

Originally Posted by M5Ranger

With Medicare bankrupt or nearly bankrupt, and this our principle patient billing source it does not spell very well.
I love it when (all the time) for ex. you bill for a $100 medical procedure / service and then send you a $12 check 6 months later.
Standard across the board our group collects 29 to 30% of what is billed.

Ranger

What about carriers denying claims do to medical necessity or picking your documentation apart just to find any reason to deny the procedure when the patient clearly benefited. Or worse, post payment audits and refunds. Alot of people forget that most of the insurance carriers are businesses and have enjoyed record profits for years. The more they deny the more they make...utterly ridiculous

T Bone · 11th February 2009, 04:32

Up in the frozen tundra of Canada, we have been pretty lucky. We have properly regulated banking and decent healthcare.

Credit is tight but not frozen. We are now just getting crazy unemployment rates.

We need this storm to clear up in one or two quarters or else all bets are off.

Like everyone else, my investment portfolio is down 40-50% from the summer of 2008. Sucks.

Good luck brothers, it will get better. Someone wise once said, it won't get any worse once you stop asking "How can it get worst?"....every morning listening to the news, I have stop asking..... Are we near the bottom?

Tiptronicsoldier · 11th February 2009, 04:33

Quote:

Originally Posted by Cosmos

Well, how do the British do it? It is my understanding that in the UK Doctors get bonuses from surveys or they get bonuses from getting their patient better. I am not exactly sure; but can you imagine...."I know you are not 100% better, but it would be really great if you could give me all 5's on this visit"....I just hope that the US Government has a better survey system than BMWNA.

ps. I have met a few UK doctors and they make a decent living of $150-200k US per year. And no one is saying that you cant have private and social medicine here in the USA, if you can afford to go to a better doctor then great, its is sort of how it is now with HMO and PPO. The plastic surgeons and such will still make money and heck even bad Doctors have to eat....

Correct me if I am wrong but I believe one of the ways the UK has been able to do well is that they have a government regulated insurance provider, thus cutting the competition between providers to make it more affordable and better reimbursement. I believe close to $.40 per dollar spent on health insurance is put to advertising here in the U.S.

Tiptronicsoldier · 11th February 2009, 04:43

Quote:

Originally Posted by xraym5

Not taking anything away from the pain many are feeling with this dire situation, but my understanding is that there will be some form of government watchdog to keep an eye on docs that are deemed as "overtreating" patients. This will leave many MD's between a rock and a hard place, as patients who feel they were "undertreated" will sue, and government officials who believe the doc "overtreated" will impose sanctions. This may ultimately lead physicians to routinely contact some form of government body to determine whether their treatment is acceptable, while carrying all the legal risk even if the government prohibits a treatment that leads to a bad outcome to a patient. Bureaucracy at its finest, and adios to what little is left of optimal patient care.

I know getting sued is a mess but I do believe under treatment, if it is justifiable, which it usually is, is harder to make a jury hard to convince that a doctor made a mistake. I had a friend's husband recently go to court because he performed a surgery that was the minimum to help the patient, it ended up not being enough to hold up as a simple strut was not strong enough to keep strong. A second doctor performed a larger surgery to solve the tough problem which helped stabilize a new graft. After 3 days in court the jury ruled 12 to 1 in the first doctor's favor because he did not over treat.

Tiptronicsoldier · 11th February 2009, 04:59

Quote:

Originally Posted by htownM5

What about carriers denying claims do to medical necessity or picking your documentation apart just to find any reason to deny the procedure when the patient clearly benefited. Or worse, post payment audits and refunds. Alot of people forget that most of the insurance carriers are businesses and have enjoyed record profits for years. The more they deny the more they make...utterly ridiculous

I posted before I read this but it is ridiculous. I have read that CEOs of health insurance companies bring in on average $40 million per year and pharmaceutical CEOs close to $80 million per year or vice versa(information I read in a book close to 3 years ago). I understand hard work should be reimbursed for building up a company but I think it should be in a method that does not cut pay and increase rates.

I sometimes question where peoples' minds are at when I have experienced certain issues at a personal level. My own paycheck has been threatened to not be sent to me because other companies(companies that personally I have done zero billed work for, the ones I billed worked for paid) have not paid their bills, yet in the same week the company owner has bought a newly remodeled home and spent $21,000 to get it repainted.

aznronin · 11th February 2009, 05:14

Quote:

Originally Posted by Barry Lausch

Wow, this sure is a happy place. It's times like this that bring out the worst and also the best of humanity. Pay attention...........there's alot to be learned from adversity.

well said. you definately get it