Making Sense of NIST & Other IT Security Frameworks
HIPAA, PCI, ISO, NIST… Understanding the alphabet soup that is security and regulatory compliance is becoming increasingly complex, and most organizations focus only on maintaining compliance rather than using these frameworks as the foundation of a comprehensive security program. In particular, the National Institute of Standards and Technology (NIST) provides many helpful guides that provide […]
Risk management: How to contain threats before they become crises
Financial risks may be the most obvious threats to the well-being of not-for-profits, but you need to be aware of other risks as well — from your reputation in the community to your physical property. If you don’t have a comprehensive risk management plan, your organization may be courting danger. Your risk list To develop […]
Creating an Effective Incident Response Program
Presented by Richard Lee An organization’s ability to response to potential security incidents is just as important as preventing them, and being able to minimize the damage that occurs because of a security incident is critical for an organization’s survival. A proactive approach in preparing for and responding to incidents can be the difference between […]
Why nonprofits need continuity plans
Most not-for-profits are intensely focused on present needs — not the possibility that disaster will strike sometime in the distant future. Yet it’s critical that all organizations have a formal continuity plan to guide them should a natural or manmade disaster disrupt operations. Formal plan You likely already have many of the necessary processes in […]
Three tips to prepare your practice for business valuation
The ongoing proliferation of retail healthcare (urgent care centers, in-pharmacy care centers, etc.) and the competition it brings to the marketplace means that healthcare practice owners will want to ensure the best value in a rapidly changing industry. Even if you don’t have immediate plans to sell or transfer your practice, there are some things […]
Don’t make a business transfer without understanding buy-sell agreements
Building a healthcare practice can be a lifelong commitment. But events such as divorce, the addition or departure of a new business partner, or the need to sell your practice and embark on a new venture can curtail that relationship. Whether a transition is formally planned or not, there are many good reasons to consider […]
5 tips to effectively manage risk
Why is a risk management plan so important for your not-for-profit? More organizations are finding that having a defined strategy in place helps them mitigate internal and external threats, while identifying cost-effective solutions to other issues. But not all risk management plans are created equal. Not-for-profits can have “right risks” that are vital to the […]
Make sure your nonprofit’s bylaws are on point
Bylaws are the rules and principles that define your not-for-profit’s governing structure. Your board and staff need to be familiar with exactly what the bylaws contain — and what they don’t. If they’re incomplete or don’t reflect the organization’s current mission, revising them is critical. What do they contain? Your bylaws might cover such topics […]
Importance of Securing Express Determination Letters
Upon the initiation of a financial institution’s regulatory exam, an often overlooked item is the request of the Express Determination Letter (EDL). The EDL is not required to be issued by the regulatory examiners, but can pose serious tax consequences when not secured. Under Treasury Regulation §1.166-2(d)(3), a bank may make the “Conformity Election.” Under […]
It’s more than price: Business valuations for healthcare practices
If you’re thinking about buying or selling a healthcare practice, price is just one of the factors to consider. It’s important to understand the key issues on valuations in the healthcare arena, including physician buy-in arrangements, mergers and acquisition, and goodwill and intangible assets. CSH’s Kent Pummel covers: • The different types of buy-sell arrangements […]