“what should i do differently this year to protect my business?” asked the business-minded physician. “spend wisely,” the wise-cracking lawyer responded. although witty, the response included a grain of truth in what has become a common exchange between clients and their business advisors these days. how do clients protect their businesses in tighter economic times? some of the answer lies in following the business basics of shoring up cash flow and monitoring costs. where the business lawyer can help is with responding in a cost-effective manner to legal issues faced by business clients. in health care, there are numerous legal fronts to be mindful of such as making sure the business is adequately insured or installing procedures to comply with regulatory restrictions. conducting some basic review of legal risks and updating or adding a process internally could avoid costly issues down the road. essentially, such a business review would be akin to an annual check-up, and the review should assess the health of the major functions of the business. if something appears odd or outdated such as an employee handbook or compliance program that has not been updated for years or a new billing clerk who has not been properly trained, take some time to correct the problem. along with business counsel there are many resources available to begin a review process for very little cost (e.g., business.gov). along with a review, business owners should be looking for ways to reach out to customers and patients with new services or products that set them apart from the competition. and, with new things, it is always a good idea to spend some time evaluating potential risks too. as the saying goes for most business-savvy clients when spending money on their businesses: “be frugal, but not cheap.”