Medigram, the Wisconsin Medical Society’s electronic newsletter for physicians, features timely news, upcoming events, answers to frequently asked questions and the information you need to make your practice run more efficiently. Topics include legislative updates, legal information, practice management information, government regulations, and much more. Medigram is delivered via email on Thursdays.

If you have a Medigram story idea or would like to offer feedback, please email us or call 866.442.3800.

WisMed, WISAM testify against legislation to de-schedule kratom
Wisconsin Society of Addiction Medicine (WISAM) President Ritu Bhatnagar, MD, MPH, testified against 2023 Assembly Bill 393 at a State Capitol public hearing September 13. The legislation would remove substances contained in the herb kratom from the state’s controlled substances act.

GO PAC GO first quarter update – get in the game for stronger WisMed advocacy!
Our third annual GO PAC GO campaign to raise funds for our WISMedPAC kicked off last Sunday. This week-long first quarter will end on Saturday with the second quarter starting on Sunday as the Green Bay Packers take on the Atlanta Falcons.

Nominate a young physician and superhero of medicine
The Wisconsin Medical Society Foundation (Foundation) is seeking nominations for the Kenneth M. Viste, Jr., MD, Young Physician Leadership Award and the Superhero of Medicine Award, which will be presented at the Foundation’s Annual Dinner on April 6, 2024 in Madison. Nominations are due November 1.

Which is better, a CD or bond?
The yield on short term certificates of deposit (CD) is higher than most bond funds. However, bonds may produce higher returns for investors.

DSPS license renewal opened September 12
The Department of Safety and Professional Services (DSPS) opened license renewal on September 12, 2023.

Legal services for WisMed members
The Wisconsin Medical Society (WisMed) has proudly partnered with the law firm von Briesen & Roper, s.c. This partnership brings you an expansion of benefits.

Apply for AMA nomination opportunities: ACGME & LCME by September 18
American Medical Association (AMA) members are invited to seek AMA nomination for current opportunities with the Accreditation Council for Graduate Medical Education (ACGME) Review Committees and the Liaison Committee on Medical Education.

WisMed, WISAM testify against legislation to de-schedule kratom

Ritu Bhatnagar, MD, MPH, testifying

Wisconsin Society of Addiction Medicine (WISAM) President Ritu Bhatnagar, MD, MPH, testified against 2023 Assembly Bill 393 at a State Capitol public hearing September 13. The legislation would remove substances contained in the herb kratom from the state’s controlled substances act – the two opioid-like substances were put into state statutes in the 2013-14 state legislative session as part of the Heroin, Opioid Prevention and Education (HOPE) agenda to combat an increase in overdose deaths. As described in last week’s Medigram story, the bill would remove kratom as a Schedule I drug and instead consider it in the same category as food, drinks, chewing gum and food supplements.

Dr. Bhatnagar’s testimony was critical in countering a barrage of incomplete and opaque comments from the American Kratom Association (AKA), the primary proponents of the legislation who appeared in force before the Assembly Committee on State Affairs. Bringing her perspective as a physician helping patients with their addictions, Dr. Bhatnagar shared how kratom can affect users much like an opioid, including how higher doses can act as a sedative and prove deadly. She also shared kratom-related publications in WMJ.

“Despite its potential harm, kratom use is increasing and its marketing is becoming more aggressive,” Dr. Bhatnagar states in her testimony. “Kratom advocates assert that kratom is an effective treatment for wide-ranging conditions such as muscle pain, panic attacks and extreme diarrhea. However, current research supporting kratom’s medical benefits is insufficient to justify its substantial risk to consumers.

“Further,” Dr. Bhatnagar’s testimony says, “due to the unregulated nature of the expanding kratom industry, retailers are not required to disclose health risks to consumers, jeopardizing product transparency and threatening public health.”

Dr. Bhatnagar also challenged the AKA’s touting of kratom as a potential pain treatment or a way to deal with opioid use disorder (OUD), stressing that patients can currently utilize effective treatment options for OUD and that the state’s resources can be better spent increasing access to those effective treatments.

“We urge you and your colleagues, as lawmakers, to operate with extreme caution when considering legislation to expand the accessibility of kratom,” Bhatnagar said. “The dangers of this opioid drug of abuse are clear.”

Various law enforcement groups have also registered against the bill, joining WISAM and the Wisconsin Medical Society (WisMed) in opposing the legislation, which is now eligible for future committee vote – perhaps as soon as next Wednesday.

You can watch the hearing for free on Wisconsin Eye here. The hearing on AB 393 begins at this point, and the WisMed/WISAM testimony begins here. But don’t skip the AKA’s testimony – it shows why the Wisconsin physician voice needs to be heard on health care issues.

Advocacy Alert

What You Can Do

WisMed members can urge their State Assembly and State Senate representatives to oppose Assembly Bill 393. You can find the contact information for your representatives on the State Legislature home page by putting your voting address in the “Who Are My Legislators” box. Note that Representatives David Murphy (R-Greenville), Robert Brooks (R-Saukville) and John Macco (R-Ledgeview) as well as Senators Rachael Cabral-Guevara (R-Appleton) and Mary Felzkowski (R-Irma) are currently sponsors for the bill, so the appropriate message for those members would be to remove their names from the bill. For other potential talking points, see last week’s Medigram.

Contact WisMed Chief Policy & Advocacy Officer Mark Grapentine, JD for more information.

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GO PAC GO first quarter update – get in the game for stronger WisMed advocacy!

GO PAC GO Quarter 1
Scoreboard

Our third annual GO PAC GO campaign to raise funds for our WISMedPAC kicked off last Sunday. This week-long first quarter will end on Saturday with the second quarter starting on Sunday as the Green Bay Packers take on the Atlanta Falcons.

Currently we have a tie for Q1 MVP with Don Lee, MD, and Paul Wertsch, MD, leading Districts 1 and 2 respectively. Way to lead the PAC! Thank you to everyone who has jumped into the game this week. There’s still time to get on the board before this first quarter ends on Saturday!

Contribute to your district team’s win by participating today. Supporting the WisMed PAC allows our lobbyists to attend events for important one-on-one conversations outside of the Capitol building, while also signaling to legislators that physicians are paying attention to health care policy happenings. Along with physician grassroots efforts with their legislators, a healthy PAC can amplify WisMed’s patient- and physician-focused messages at critical times during the state legislative session. If you’re still on the bench, get in the game! Give Heidi Green a call at 608.358.6116.

$1,000 - $1,499
Don Lee, MD, District 1
Paul Wertsch, MD, District 7

$500 - $999
Michael Becker, MD, District 1
Corey Cronrath, DO, District 7
David Hoffmann, MD, District 3

$1 - $499
Jade Anderson, MD, District 2
Joel Charles, MD, District 3
John Cook, District 2
William Henry Johnston III, MD, District 4
Kenneth Klein, MD, District 2
Sophie Kramer, MD, District 2
Kieren McAvoy, MD, District 1
Elizabeth Ringle, District 2
Michael Witkovsky, MD, District 2

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Nominate a young physician and superhero of medicine

The Wisconsin Medical Society Foundation (Foundation) is seeking nominations for the Kenneth M. Viste, Jr., MD, Young Physician Leadership Award and the Superhero of Medicine Award, which will be presented at the Foundation’s Annual Dinner on April 5, 2024 in Madison. Nominations are due November 1.

Viste document

The Kenneth M. Viste, Jr., MD, Young Physician Award was established in 2006 in memory of Kenneth M. Viste, Jr., MD, who was an active volunteer in his community and an advocate for patients and the profession of medicine at the state and national levels. Consider nominating a young physician who has demonstrated a commitment to their patients, the community and the profession of medicine. A young physician is defined as a licensed Wisconsin physician, who is less than 40 years old or in the first eight years of practice after residency and fellowship training. The nomination form can be found here

Superhero flying

The Superhero of Medicine Award recognizes Wisconsin physicians who live out the mission of the Foundation to an exemplary degree, going above and beyond to improve the health of their patients and/or community. Superheroes of Medicine work passionately to help individual patients and/or fight to improve health by reducing barriers to care and improving health education, prevention or treatment. Preference is given to Wisconsin Medical Society member physicians involved in a program of the Foundation or a project supported by the Foundation through a grant or other partnership. Both the nominating physician and the nominee must be licensed Wisconsin physicians. To nominate a physician Superhero of Medicine, click here.

In addition to presenting the recipients with an engraved award, the Foundation will make a contribution to the charitable organization chosen by the awardee.

For more information on these awards, contact Elizabeth Ringle at 608.442.3789. The nomination deadline is November 1.

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WisMed Assure - Insurance Solutions for the health care community

Which is better, a CD or bond?

Illustration of chopping interest rates

The yield on short term certificates of deposit (CD) is higher than most bond funds. However, bonds may produce higher returns for investors. Let’s look at how this is possible so you can determine which is right for you.

Yield
CDs and bonds both pay interest to the investor. As of September 12, 2023, short term CDs paid approximately 5.4% while the Barclay’s aggregate bond index yield was 4.4%.

Duration
Bond share prices can fluctuate as interest rates change. It’s an inverse relationship, so as interest rates increase, bond prices fall. Duration helps quantify the share price change – it accelerates as the time to maturity lessens. Currently, the aggregate bond index duration is 6.3%. Stated differently, if interest rates fall by 1%, the share price of the bond is expected to increase by approximately 6.3%. Short term bonds have smaller duration while long term bonds have higher duration.

Total return
With a CD, your total return is the interest earned on the CD since there is not a share price change in most cases. However, bonds or bond funds can be sold at any time and the total return is the interest earned + share price gain or loss. Using the yield and duration above, if interest rates hypothetically fall by 1% in one year, the return on the aggregate bond index is 4.4% interest + 6.3% share price increase = 10.7% total return.

Will interest rates fall?
That’s the big question right now. The Fed appears to be slowing or stopping interest rate increases, and we’ll know more after the Fed meets again next week. Many who watch the Fed are predicting we’ll see lower interest rates sometime in 2024.

What can history tell us?
History is on the side of bond funds according to research by BlackRock. When comparing cash (money market and CDs) to short-term bonds and core bonds, the core bonds tend to prevail. Of course, past performance does not guarantee future results.

For personalized help eliminating debt, investing smart and securing retirement, please contact Mark Ziety, CFP®, AIF® 608.442.3750.

WisMed Financial

Mark Ziety

 

Mark Ziety, CFP®, AIF®
WisMed Financial, Inc. part of the Wisconsin Medical Society.  

Note: This article is for informational purposes only and should not be considered as financial or tax advice. Please consult with a qualified financial advisor or tax professional before making any financial decisions.

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DSPS license renewal opened September 12

The Department of Safety and Professional Services (DSPS) opened license renewal on September 12, 2023. The status of license renewals can be checked on LicensE. If you encounter a hold due to payment of your Injured Patients and Families Compensation Fund fees, contact the Fund at 608.360.8001 or [email protected]

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Legal services for WisMed members

The Wisconsin Medical Society (WisMed) has proudly partnered with the law firm von Briesen & Roper, s.c. This partnership brings you an expansion of benefits including:

  • A no charge one-hour consultation valued at $500
  • Reduced rates on follow-up work valued at a savings of approximately $100 per hour
  • WisMed Legal Assist Hotline at 608.442.3715 or [email protected]

WisMed members can seek consultation on topics such as regulatory compliance, risk mitigation, starting or expanding a business, contract questions, employment law concerns and more.

To learn more about services and von Briesen & Roper, sc., click here.

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Apply for AMA nomination opportunities: ACGME & LCME by September 18

American Medical Association (AMA) members are invited to seek AMA nomination for current opportunities with the:

  • Accreditation Council for Graduate Medical Education (ACGME) Review Committees for:
    • Internal medicine
    • Obstetrics and gynecology
    • Ophthalmology
    • Pathology
  • Liaison Committee on Medical Education (LCME)

Visit AMA Medical education leadership opportunities for position descriptions and AMA nomination applications. The application submission date for these opportunities is September 18. Please email Mary Grandau if you have questions.

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