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Research & Insight

Risk-Reward

Outsourcing’s Role in the Delicate Balancing Act Between Growing and Shrinking

Outsourcing Center, Kathleen Goolsby, Senior Writer

The cost of human capital is so large that it stymies some companies from being able to achieve their growth initiatives. Outsourcing truly makes a difference, as in this story of how a medical billing company handled the challenge and ensured HIPAA compliance at the same time.

Financial Institution Outsourcing: Managing the Risks

Thomas J. Smedinghoff, Partner, and Creighton R. Meland, Jr., Partner, Baker & McKenzie, Chicago, Illinois

In the Bible, Cain insisted he was not responsible for his brother’s actions. That’s not true if you are a financial institution. Banks, savings and loans and credit unions are still responsible for the actions of their service providers. Two attorneys at Baker and McKenzie tell financial institutions how to protect their interests when they outsource.

Trust Nobody; Train Everybody

Outsourcing Center, Kathleen Goolsby, Senior Writer

Serious legal consequences can result from employees’ lack of awareness of new procedures for privacy and security issues due to HIPAA. But implementing the policies and educating employees is costly and requires expertise. One outsourcer, however, has a unique, low-cost, highly effective solution that you need to know about.

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This guide will walk you through some areas most important when outsourcing, such as
  • Identifying Your Outsourcing Needs Intelligently
  • Research & Selection
  • The Bidding Process
  • Contracts & Agreements
  • Implementation & Onboarding
  • Ongoing Management
  • Evaluating Success
  • Additional Resources

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