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How Do I Update My Compliance Risk Assessment?

Compliance Risk Assessments are critically important in healthcare practices. When used correctly, they can save entities from fines, problems and consequences.

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While almost everyone is familiar with a HIPAA Risk Assessment, many practices have not completed a full Compliance Risk Assessment.

A Compliance Risk Assessment is a process for healthcare entities to determine what risks exist, evaluate potential risks and focus resources to address the most significant risks.

Compliance Risk Assessments help to find blind spots, show your employees that you care about their concerns and are proactive, and reduce potential government fines and penalties. They could even help prevent a whistleblower suit.

Healthcare entities should prioritize these risk assessments, as they are now expected by the government. The Department of Justice (“DOJ”) has shared its belief that periodic risk assessments are the starting point of a well-designed compliance program.

Compliance plans must be updated regularly and regularly. Your staff should be aware of and engaged with your compliance program.

So how do you perform or update your Compliance Risk Assessment?

Work with your healthcare attorney to:

identify risks;
Assess risks for potential likelihood and impact;
Create a work plan which will likely include:
- audits,
- monitoring,
- education,
- updates to policies and procedures, and
- implementation of any necessary technology measures; and
Continue monitoring compliance and compliance risks.

It is essential that your compliance plan is well-used, familiar to all staffand involve your entire office.

If a government official were to come to your practice, would all of your employees be able to comprehensively discuss your compliance plan?

If not, or if you need help with your compliance, billing, or audits, contact Rickard & Associates today!

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Hundreds of thousands are without power as tornado-spawning storms batter the Southeast and Ohio Valley

Severe tornado-spawning storms battered the Southeast and Ohio Valley, knocking out power to more than 615,000 homes and businesses across multiple states.

Stormy sky and rain. apocalypse like(Getty Images/iStockphoto/Evgeny555)

(CNN) — Severe tornado-spawning storms battered the Southeast and Ohio Valley, knocking out power to more than 615,000 homes and businesses across multiple states.

A possible twister damaged dozens of homes in Bargersville, Indiana, on Sunday as thunderstorms moved through the state, threatening hail and damaging winds. As they shifted through the rubble, Bargersville residents were warned to prepare to be without power for the next two days.

Scattered severe thunderstorms are likely across the Mid-Atlantic states Monday, bringing damaging wind gusts and large hail, according to the Weather Prediction Center.

Already, thunderstorms have walloped parts of Arkansas, Tennessee, Mississippi and parts of the Ohio Valley Sunday, knocking out power and leaving behind destruction.

Much of the power outages Sunday night were in Georgia, where more than 150,000 customers were in the dark, according to poweroutage.us.

“We are seeing large amounts of damage across Metro Atlanta and North Georgia. In areas that are the most heavily affected, our team is working to navigate the damage and get the lights back on for customers,” Georgia Power tweeted.

The storms came as more than 50 million people from Arizona to Louisiana on Sunday sweltered under a heat wave that was expected to spread and continue through the beginning of the July 4 holiday week.

The heat alerts include much of Texas as well as parts of Arizona, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi and Tennessee, according to the National Weather Service.

The extreme heat in Texas contributed to at least two deaths Friday at the remote Big Bend National Park, where temperatures reached 119 degrees.

At least 75 homes near Indianapolis were damaged

In Bargersville, a severe storm cut a path of destruction roughly 3 miles long, Bargersville Fire Chief Eric Funkhouser said.

One of the Bargersville Fire houses “witnessed the tornado going just north of the fire house” around 4:15 pm then reports began rolling in of homes collapsing and damage throughout the area, Funkhouser said.

At least 75 homes were left with moderate to severe damage “from the tornado being on the ground,” Funkhouser said, adding that the storm “took down the apartment complex that was under construction.”

No serious injuries were reported as of Sunday evening, according to the fire chief.

“This is the second tornado to hit Johnson County in the last three months,” Funkhouser said. “It’s amazing to have two tornadoes to come through, that were on the ground for that amount of time in Johnson County and for us to be able to hopefully – once we get through this – find out there were only minor injuries.”

Videos posted on social media showed a funnel-shaped cloud ripping through buildings as debris flew around it. Several houses could later be seen with their roofs ripped off.

“Given the photos and videos that we’ve seen, it’s virtually certain it was a tornado. We will be sending a survey team to make a final determination tomorrow,” National Weather Service Indianapolis Meteorologist Joseph Nield told CNN on Sunday.

Bargersville is about 17 miles south of Indianapolis and is located in Johnson County.

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This content was republished with permission from CNN.

Estate Planning: 5 Things to Consider

If you are preparing to draft your estate plan with your estate planning attorney, there are a variety of issues that you will need to think about before your documents can be finalized.

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Prior to drafting your estate plan, we recommend that you give some thought to the following items:

How do you want your money and assets handled if you die? Do you want any restrictions? If you are married, do you want your spouse to handle all assets? Are you worried about your spouse remarrying and being influenced by the spouse? It is important to know how you want your money to be managed when you or your spouse dies, especially if you have minor children.
If you have minor children, who will be their guardian? This is a very difficult discussion to have, but it’s better to make this decision than leave it up to the probate court. Many parents hope to avoid lengthy, emotional guardianship proceedings for their minor children.
Upon your death, where do you want your money, house, etc. to go? Do you want it to go to family, children, friends, charities, etc.? And do you want it given all at once? Or staggered? We typically recommend distributing money to children at certain ages, instead of in a lump sum.
Who will handle your affairs when you die? You need to appoint someone to be your trustee. This will be the person that you name to follow the instructions laid out in your estate plan regarding distribution or other plans you have set forth. This is usually your spouse first if you are married, then the most responsible person you know.
Who will make decisions for you if you are incapacitated? Usually, married clients designate their spouse as their power of attorney for both health and financial issues. If your spouse is already incapacitated or predeceased you or if you are single, who would you want to handle these issues? It can be the same person, or different people, to handle medical and financial people.

These are some of the decisions you should consider.

We often help our clients walk through these decisions and provide further guidance as we draft their documents.

If you need help, contact us today.

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

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Top 5 Reasons Not to Have an Estate Plan

We often hear many reasons why people do not have an estate plan or why they are putting off creating their estate plan.

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Here are the top five reasons why people don’t have an estate plan (and why these reasons shouldn’t prevent you from doing your estate plan today):

I don’t have enough money, property, etc. Estate planning is not just about assets. Estate planning is a way to protect your wishes, in the event of incapacity. If you have young children, estate planning allows you to choose their guardian, something should happen to you. Estate planning also allows you to direct medical and financial care, should you become incapacitated. Further, most people have more assets than they realize. Estate planning is for everyone, no matter the size of your estate.
I’m too young, I’ll worry about it later. We hear this often. Unfortunately, life can change in an instant. No matter how old you are, you could be involved in an accident or have an unexpected health issue. It is essential to get documents in place to protect you. While your documents may change over time, having foundational documents in place will help you later on.
I’m scared to talk about it. We understand. Talking about incapacity and death is not fun. However, once your estate planning is done, it will give you incredible peace of mind. It also allows you the ability to think about it and have documents in place before an emergency occurs. We help our clients have the difficult conversations and put their minds at ease with tailored solutions to their matters.
I did it online. Online estate planning can lead to a lot of issues. Online documents may not be the correct documents for your state or situation. They might not be legal, if they are for a different state and may fail to have the appropriate language. They are also not likely tailored enough to help best protect your interests and your assets. Online estate planning can lead to lengthy and expensive probate battles.
It’s too expensive. We know that estate planning comes with an upfront cost. However, this cost is much less than if your estate has to go through probate. It also allows you to make a plan for your assets, instead of letting the state decide where your assets go upon your death. Estate planning also provides you peace of mind by letting you decide who will get to make financial and healthcare decisions on your behalf. Good estate planning will help you protect your assets in regards to tax liability, future disputes and probate court costs. Upfront planning can save money in the long run.

None of the above reasons should keep you from completing your estate plan. It is always better to do an estate plan now, and update it in the future if need be.

We can help you determine what documents are best suited for your situation and help you get tailored language in place to protect you, your wishes, your family, and your assets.

If you need help deciding if you need an estate plan, contact us today!

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

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Bank regulator action on climate change ‘overdue and now urgent’ – Business News

Climate action ‘over due’

The Canadian Press – Apr 21, 2023 / 6:13 am | Stories: 422543

Bank regulator action on climate change ‘overdue and now urgent’ – Business News

Photo: The Canadian Press

Canada’s environment commissioner says action by the federal banking regulator on climate change is overdue and now urgent.

Commissioner Jerry DeMarco said in an audit released Thursday that it’s encouraging that the Office of the Superintendent of Financial Institutions (OFSI) both recognizes the risks of climate change to banks and the financial system, and is taking action on the challenge.

But he notes that since climate change has only recently become a priority of the regulator, the full implementation of the strategy is still years away.

DeMarco also said that OFSI’s plan to improve the resilience to climate change of banks and other financial institutions stops short of actually encouraging the transition to a net-zero emissions economy.

Among the auditor’s recommendations are that OFSI set clearer guidance about the information banks need to report in their transition plans as a way to avoid greenwashing.

The agency agreed with all five of the auditor’s main recommendations, noting that it expects to issue heightened disclosure rules on climate change this year and that it will continue to refine its disclosure expectations.

Coca-Cola entering the fresh fruit category?

REEDLEY, CALIF. — The Coca-Cola Co. has entered into a licensing agreement with Frutura, a supplier of fresh produce, to put two of its brands on fresh citrus. The agreement involves Coca-Cola’s Simply and Minute Maid brands.

The Minute Maid brand will appear on fresh grapes in the United States and fresh citrus and grapes in Japan. The Simply brand, under Simply Select, will appear on fresh citrus in the United States. The products will be distributed by Dayka & Hackett, a subsidiary of Frutura.

“Our company is committed to serving the consumer with superior products at every part of their day,” said Kayla Carlucci, associate licensing manager with The Coca-Cola Co., Atlanta. “When we consider licensing one of our brands, the quality of the product that will bear our name is paramount as is the quality control the licensee exercises at every step along the supply chain. We’re delighted to be in business with Frutura and consider this to be the start of a great relationship.”

Products featuring the Minute Maid and Simply Select branding will begin reaching retailers during the second quarter of the year, according to Frutura.

“Partnering with the iconic Coca-Cola Co., and their globally recognized and respected brands, is a transformative moment for our company and for Frutura,” said Tim Dayka, chief executive officer of Dayka & Hackett. “This will allow us to increase our market penetration in a meaningful way, as these brands resonate so strongly with the discriminating consumer.”

Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) Looks Like A Good Stock, And It’s Going Ex-Dividend Soon

Regular readers will know that we love our dividends at Simply Wall St, which is why it’s exciting to see Bayerische Motoren Werke Aktiengesellschaft (ETR:BMW) is about to trade ex-dividend in the next 4 days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company’s books as a shareholder in order to receive the dividend. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. Accordingly, Bayerische Motoren Werke investors that purchase the stock on or after the 12th of May will not receive the dividend, which will be paid on the 16th of May.

The company’s next dividend payment will be €8.50 per share, on the back of last year when the company paid a total of €8.50 to shareholders. Based on the last year’s worth of payments, Bayerische Motoren Werke stock has a trailing yield of around 7.9% on the current share price of €107.54. We love seeing companies pay a dividend, but it’s also important to be sure that laying the golden eggs isn’t going to kill our golden goose! As a result, readers should always check whether Bayerische Motoren Werke has been able to grow its dividends, or if the dividend might be cut.

Check out our latest analysis for Bayerische Motoren Werke

If a company pays out more in dividends than it earns, then the dividend might become unsustainable – hardly an ideal situation. Bayerische Motoren Werke paid a comfortable 49% of its profit last year. Yet cash flow is typically more important than profit for assessing dividend sustainability, so we should always check if the company generated enough cash to afford its dividend. The good news is that it paid out just 22% of its free cash flow in the last year.

It’s encouraging to see that the dividend is covered by both profit and cash flow. This generally suggests the dividend is sustainable, as long as earnings don’t drop precipitously.

Click here to see the company’s payout ratio, plus analyst estimates of its future dividends.

Have Earnings And Dividends Been Growing?

Businesses with strong growth prospects usually make the best dividend payers, because it’s easier to grow dividends when earnings per share are improving. If a business enters a downturn and the dividend is cut, the company can see its value fall precipitously. With that in mind, we’re encouraged by the steady growth at Bayerische Motoren Werke, with earnings per share up 6.0% on average over the last five years. Management has been reinvested more than half of the company’s earnings within the business, and the company has been able to grow earnings with this retained capital. Organizations that reinvest heavily in themselves typically get stronger over time, which can bring attractive benefits such as stronger earnings and dividends.

Another key way to measure a company’s dividend prospects is by measuring its historical rate of dividend growth. Bayerische Motoren Werke has delivered 14% dividend growth per year on average over the past 10 years. It’s encouraging to see the company lifting dividends while earnings are growing, suggesting at least some corporate interest in rewarding shareholders.

The Bottom Line

Has Bayerische Motoren Werke got what it takes to maintain its dividend payments? Earnings per share have been growing moderately, and Bayerische Motoren Werke is paying out less than half its earnings and cash flow as dividends, which is an attractive combination as it suggests the company is investing in growth. We would prefer to see earnings growing faster, but the best dividend stocks over the long term typically combine significant earnings per share growth with a low payout ratio, and Bayerische Motoren Werke is halfway there. It’s a promising combination that should mark this company worthy of closer attention.

With that in mind, a critical part of thorough stock research is being aware of any risks that stock currently faces. For example, we’ve found 4 warning signs for Bayerische Motoren Werke (1 is a bit unpleasant!) that deserves your attention before investing in the shares.

Generally, we wouldn’t recommend just buying the first dividend stock you see. Here’s a curated list of interesting stocks that are strong dividend payers.

Have feedback on this article? Concerned about the content? get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Remarriage and Estate Planning – Rickard & Associates

If you are getting remarried, it is essential to understand your spouse’s inheritance rights.

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Before you get married for a second or third time, you want to be aware of the rights your spouse will have to your estate and vice versa.

You may want to work with an attorney to draft a prenuptial agreement, prior to exchanging vows.

Then, you want to be familiar with the intestacy laws in your state. If you die without a written estate plan, the intestacy laws will control where your assets go.

We help our clients understand where their money will go, if they don’t have a written plan. We also help them look at various options and understand how their assets will be transferred depending on the option they choose.

In subsequent marriages, we often find that our clients have different concerns than in their first.

Sometimes, they are worried about providing for their children from a previous marriage, should something happen to them. Other times, they want their new spouse to have less rights to their assets.

We also have clients who want to make sure that their new spouse and their ex-spouse do not make financial or medical decisions on their behalf. They may prefer a close friend, sibling, or child who is the agent in their powers of attorney. We draft their medical and their financial powers of attorney to protect their wishes.

Whatever your goal is with estate planning, it is essential that you communicate this to your estate planning attorney.

Estate planning allows you to protect your loved ones and your assets. In second or third marriages, estate planning can protect your children and your wishes in the event of incapacity or death.

If you need help with your prenuptial agreement or estate plan, we can help.

Contact us today to help you get the right documents in place or to update your current estate plan. We will plan so that you don’t have to worry about your future.

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