09/01/2005
Dear Editor:
Your article, “Concierge Medicine” (July 2005, page 68), exposed an issue that is at the heart of my life’s work in patient advocacy. Never before has science offered such remarkable answers to challenging health concerns. Yet the complexity of the health care system prevents connecting the dots from science to patient. Your article brought out an important point: As valuable as they are, even highly attentive doctors “can’t offer . . . patients dramatic new technologies.”
Moreover, commonplace ailments now become complicated due to dispersed patient records, mixed communications, physician distractions, conflicting diagnoses and inconsistent treatment. An arguably positive aspect of today’s medicine—specialists by the thousands—further adds to the confusion.
The article focused on the concierge-style solutions arising from patient frustration. To clarify, however, our company, Pinnacle Care, is different in that we rely on objective data plus an impartial medical advisory board to connect our members to the best care options. Unlike concierge practices, this service is not limited by geography, a particular physician’s contacts, hospital affiliations or broad-brush reputations. We do not receive compensation from or provide compensation to any physician or hospital.
A disjointed health care system that keeps patients from getting appropriate treatment is a tragedy. It affects all people of all income levels. Until systemic change occurs, our approach will continue to attract those with above average incomes. We genuinely hope the direction we are forging, the quality route, will someday be available to all others.
John Hutchins
Managing Director, Pinnacle Care International
Baltimore
Disinterested Advice
Dear Editor:
I truly enjoyed Donald Moine’s
“Valueless Values” (June 2005, page 36). He is absolutely correct in warning
readers not to count on financial advisors for advice in areas outside of their
bailiwick. I’d like to add that financial advisors are not always prepared to
properly advise their clients in another area of importance to persons of
wealth: philanthropy. An ancient Greek philosopher commented on the difficulty
of giving money away wisely and well. Things haven’t changed much in two
millennia.
I’d suggest to your readers who are starting private family
foundations or plunking over seven figures’ worth of cash and assets into a
donor-advised fund that they seek out a reputable and disinterested philanthropy
advisor to help them put together what Worth described as a “100-year plan” in a
series of articles last year. The Council on Foundations has a list of those
approved and up to its standards.
Doris Rubenstein
Principal Consultant,
PDP Services
Minneapolis
Worth welcomes your comments, critiques and suggestions. Please direct
your letters to letters@worth.com.
Short-Termist
Dear Editor:
I have been a huge fan of the focus of Worth
since its alignment with Robb Report. However, in “Bearish Portents” (June 2004,
page 128) the answers or purported insight to a question—posed by a member of a
family office in regard to a 10 percent loss in his family’s investment
portfolio over the next 24 months—seemed more like that of a rookie stock broker
advising Aunt Betty on her $5,000 retirement savings.
The reality is that a
portfolio with $55 million in five concentrated positions should already be
hedged (most likely the family is dealing with restricted stock or control
issues), whether through collars or exchange funds or even a private annuity
transaction.
The second larger issue at hand is in regard to perspective. A
100-year plan incorporates over 1,200 months. Issues regarding taxes and market
fluctuations are extremely myopic in the short term. Not that I would be opposed
to trying to hedge against a 10 percent short-term loss, but I am boggled by how
the conversation in regard to chasing short-term returns—real darn short term
over a four-generation investment pool—would even be broached. It seems as
though there is a lack of family in the focus of the strategy.
My immediate
response: Are your current family office investment advisors up to the
challenge?
Brent E. Bentrim
Managing Principal, Carolopolis Family Wealth
Management
Charleston, S.C.
Worth welcomes your comments, critiques and suggestions. Please direct
your letters to letters@worth.com.