News & Insights
Jun 18, 2020
Stand-alone, nonprofit hospitals seem to bear the brunt of an unfavorable financial climate. These tactics, which include assessing services, sizing up leaders and improving documentation, can protect hospitals and shield trustees from individual liability.
Hospital boards are charged with protecting the viability of one of the community’s most important assets. During times of unprecedented financial turbulence, the best boards will assess the organization’s financial situation and, if necessary, restructure operations to remain independent or position it to form a mutually beneficial partnership with another organization. At the same time, boards must be careful to minimize their exposure to individual liability.
Eight tactics can help nonprofit boards to shepherd their organizations through these challenges, take control of their future and protect trustees from individual liability.
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