|
 E-mail Story Print Friendly
Biz GM Sued Over Impala Fix |
Monday, March 15, 2010
Letters to Outlook
Defending elder care
Our sincere thanks to the Albuquerque Journal for running a well-written and informative feature story "Retirement Labyrinth: Planning long-term health care coverage is a costly, bewildering experience."
As executive director of the New Mexico Health Care Association (NMHCA), I take keen interest in educating consumers on issues of retirement planning and options for long-term care. The mission of our organization is to support long-term care providers and to promote individual quality of life for the people they serve.
The article did a very good job of articulating and presenting the Medicare program and explaining the benefits and shortcomings. For instance, that "Medicare beneficiaries can face substantial out-of-pocket costs and the program doesn't cover long-term care needs beyond a brief transition period." Your article is a useful reminder that retirement planning should not be limited to travel or vacation plans, but also to consider long-term care options – not just for grandma or aging parents, but anyone crossing past middle age. NMHCA is a "go-to" resource for consumer information about long-term care options, including many types of retirement, assisted living and nursing facilities with respect to individual requirements and cost factors. Thank you too for addressing insurance coverage since understanding long- term care options can provide the best protection for individual health care needs.
Finally, thank you as well for not burying the critical topic of Medicaid as it affects a majority of New Mexicans. I suspect that many readers are not aware that more than 75 percent of long-term care facility consumers in New Mexico are Medicaid beneficiaries. Every federal and state dollar that is underfunded creates a real shortfall — not just in annual operating budgets but at the level of "deliverable" quality care and quality of life to New Mexico's elderly. Simply and emphatically stated: Medicaid underfunding jeopardizes consumer care.
When lawmakers cut Medicaid, long-term care providers lose not only their reimbursement for services but also their ability to maintain staffing and quality improvements. Sustainable funding for Medicaid is critical for New Mexico for without it, 75 percent or more of our elderly population is put at risk for quality care. NMHCA continues to advocate for fully funded Medicaid at the state and federal level — and we are grateful for the understanding and support from our elected officials here and in Washington.
Linda Sechovec
Executive Director
New Mexico Health Care Association
Tossing old assumptions
My grandfather created a city-size jewelry store in a small town that drew people in from miles around. He had fantastic showpieces that would never sell, but inspired people to buy. When the economy slowed down, he got active with marketing and advertising.
The natural tendency is to tuck in, to cut back. But stressful times promote creative thinking and change delivers opportunity. Is it time to leave some comfortable assumptions behind?
Vince Murphy, executive director of Creating Opportunities for New Mexicans, links private-sector opportunity to education (Op/Ed 2-17-10). You certainly have to know a lot to make it in business. But I'd also say that a depressed local economy needs cash from beyond local circles. We're talking exports and tourism.
As a visiting Canadian scientist, I'd like to start a high-tech business here, but as Vince points out, the smartest graduates are leaving for greener pastures. I work in optical analysis, which measures elements such as calcium using visible light. I've also discovered that photons probe the structure around an element. The medical and basic-sciences business opportunities are significant, but can I find the right people?
I'd need a virtuoso programmer who can iterate three-dimensional objects, a sales genius with instincts for overseas marketing, an electronics engineer who can rewire a digital-camera detector while riding a camel, and a registered finance officer.
But has financial intelligence left the building? After interacting with venture capital firms, my personal impression is that the current model of equity investment using stocks is a disaster. Apparently your money can be spent without consequence. I lost $10 every month for each $100 I put into an RSP, money that went somewhere and was not used to build anything.
Venture capitalists keep pushing equity models even though their returns are dismal. Their only "out" is to put a new company on the chopping block, and I'd hardly call that a successful way to grow a business. A new plant needs to be fed, not chopped up into shares.
Recall that a company starts with a small group of people who venture forth and bear all risks associated with the adventure. Like trained Olympians, they either crash in a blaze of glory or return great wealth to society. But in finance today, it seems that investors bear all the risk and CEOs always get the Porsche and parachute. Is everyone comfortable with these old assumptions?
Bonds are far more interesting financial instruments. Bonds represent investment in community. Your money is used for a time, but must be returned on a due date. In the meantime, your royalty payments linked to sales can be significant.
What nonsense, the claim that financial success comes by swimming in a shark tank. Real success comes from developing products that last and work well, from being honest and reliable, and from a spirit of creativity and innovation.
David K. Teertstra, Ph.D.
Photon Probe Technologies
Albuquerque
You also can send comments via our comment form
|
|
