Protecting Your Business in Today’s World

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Business owners go to a lot of effort and expense in terms of their business, yet, it’s so easy for things to become undone in a matter of days should you not protect yourself from significant risks.

Today’s landscape, in the modern world of business, has changed dramatically in terms of security, with much focus on digital security and data protection rather than the physical security of locks and bolts, or security guards, that was once associated with commercial security.

Whilst such measures are still required, after all, you don’t want to leave the doors open to your office or a shop floor unattended – there is a need to think about security slightly more holistically, incorporating the digital aspects, and in this vein this article offers a number of aspects to consider as a business owner in today’s security conscious world.

  1. PROTECT YOUR DATA

In addition to cybercrime, the most common issue when it comes to data loss is through physical theft (e.g. your laptop gets stolen at an airport) or, more likely, corrupt data as a result of accidental damage.

For this reason, you want to make sure you back everything up to the cloud, rather than relying on your laptop’s hard drive (even if you like to believe it’s indestructible), external hard drives which often malfunction over time, or USB’s which are flimsy and easy to snap – meaning the data on them would have to be forensically recovered which is an expensive process.

  1. EMPLOYMENT

If you’re employing staff then employment lawyers are absolutely essential to protecting yourself, and your staff – as this area of law is particularly intricate with new case law informing modern practices on an almost weekly basis.  This area of law evolves so rapidly that even if you think you can get away with using something you used previously, it’s wise to get it checked out first by the professionals.

  1. INCIDENT PREVENTION

Business owner’s are vicariously liable for the negligent actions of its employees – meaning, if for instance, you had a restaurant and a waiter slipped whilst holding a knife, which subsequently landed in the leg of a dinner, you would be held liable for your employees negligence.  

It’s therefore imperative, from a legal perspective, to ensure the adequate training of your staff, as this will mitigate your liability as if you can show you took all reasonable steps as an employer to prevent the incident taking place – the courts are likely to look much more favorably on your position in terms of damages.

  1.  PHYSICAL SECURITY

We often forget the importance of physical security, in a business context, yet as with recent incidents such as people walking into corporate offices and attacking office workers, whether randomly due to mental health issues, or planned as a reaction to their disdain for corporate policies… employees are feeling more and more vulnerable, therefore, it’s good to have measures in place to protect your staff, and your customers.

It’s sad that so many public facing services, such as transport operators, now have to put up signs stating “we will not tolerate abuse or physical violence”, but this is the landscape we live in today, and it’s good to have a plan in place… along with practical measures, to ensure you protect yourself and your staff.

The Costs Of Opening A Medical Clinic

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There are lots of perks to setting up a private medical clinic. It can be more profitable in the long run and more stress-free – you get to choose your workload and the types of treatment you offer. The biggest obstacle faced when starting a medical clinic is the upfront cost of setting it up. After the cost of university and medical school, few people are able to then justify taking out a massive loan to start a business. Whilst you will make a substantial return in the future, it’s important to effectively budget when considering starting up a clinic. Many doctors go into a partnership with someone who can split the costs and handle the business side. Here are just a few of the costs that need to be covered to get your medical business off the ground.  

Insurance

Physicians starting their own clinic are required by law to take out malpractice insurance. This can be anywhere between $4k to $70k a year depending on the state. Insurers such as Towergate provide these insurance scheme – it’s worth comparing rates. If you’re taking on staff, you may need to also take out employer’s liability insurance. Property insurance can also be beneficial for covering your premises against damage and theft.

Leasing space

Most people starting up a clinic will rent or lease out space. It’s possible to buy your own space, but this is obviously more costly upfront. The cost will depend on the size and location of the property you need.

Renovations

You’ll most likely want to refurnish the place to feel more like a clinic if it wasn’t already one before. Renovation companies like Perfect Practice specialize in remodeling medical clinics. Costs can vary widely here too ranging from $15k to $50k depending on the scale of the project.

Equipment

You’ll next want to kit out your clinic with the necessary machines such as computers and X-ray machines and furniture such as beds and chairs. You can expect to pay up to $50k on all this equipment. That said, you can save upfront costs by leasing equipment or buying second-hand. Most used equipment is likely to be fully functional, although you’ll want to thoroughly assess the condition of it first (especially computers and machines).

Staff

If you’re taking on employees, you’ll need to be able to provide them with a regular wage. Some clinics can operate with one physician, but you’ll still want medical assistants and receptionists. If you keep patients in overnight, you’ll definitely need extra staff to offer round the clock assistance. As mentioned already, you’ll also need employer’s liability insurance if you’re hiring staff.

Marketing

To let people know about your services, you’ll need to do some marketing. This could include paying to design a website, printing off flyers, create radio ads and possibly even getting news coverage with the help of a PR company.

Admin

As your clinic is also a business, you’ll need to handle various business-related admin including keeping clear records of taxes, billing patients correctly and organizing HR-related matters such as creating rotas and keeping on top of staff holiday and sickness. This will require extra software as well as potentially hiring staff to handle it. As mentioned earlier, it’s wise to go into a partnership with someone business-oriented who can help organize all this, allowing you to focus on patient care and organization of the medical side.