Social media and online reputation present risks and opportunities that the board of directors must monitor and understand. Failure to do so can result in compliance failures, legal liability, and ill-advised business decisions.
Palo Alto, California (PRWEB) March 16, 2012
Silicon Valley Corporate Governance Attorney Douglas Y. Park of DYP Advisors, together with Michael Sacopulos of Sacopulos, Johnson & Sacopulos of Terre Haute, Indiana, has published two articles on the management of online reputation in medical mergers and acquisitions. The companion articles, entitled “Could negative online reviews sour your appeal to buyers? and “Take steps to manage reputation,” appear in the March 2012 issue of MGMA Connexion, the publication of the Medical Group Management Association.
The boom in medical mergers and acquisitions, combined with the growing number of websites allow patients to rate and review physicians and hospitals, raises novel concerns for acquirers. Medical groups face liability and risks not only from ratings and reviews, but also from Health Insurance Portability and Accountability Act (HIPAA) and privacy violations, improper Facebook posts by physicians, nurses and staff, and data security breaches.
The authors provide numerous recommendations to help hospitals and medical groups, together with their board of directors, govern the risks associated with social media and online content. The guidelines should continue to be followed after the closing of a merger or acquisition.
Mr. Park explains the board of directors’ role in this issue: “Social media and online reputation present risks and opportunities that the board of directors must monitor and understand. Failure to do so can result in compliance failures, legal liability, and ill-advised business decisions.”
Questions regarding the paper may be directed to Mr. Park at info(at)dypadvisors(dot)com.
About DYP Advisors:
Douglas Y. Park of DYP Advisors, located in Palo Alto, California, has nearly twenty years of experience helping companies, board members, and investors achieve their strategic, financial, and operational goals. He specializes in solving problems in corporate governance, corporate and securities law, and strategy. He received an AB magna cum laude with highest honors in Sociology from Harvard College, a PhD in Strategy and Organization from Stanford Graduate School of Business, and a JD from the University of Michigan Law School. For more information, please visit http://www.dypadvisors.com.