Relative to healthcare, Sheppard said the reasons to look across the continuum include hazards, challenges and financial implications that come with, for instance, a patient safety issue and IT implications or human capital risk. Sheppard is both a registered nurse and an attorney with 35 years in risk management as well as previous roles including in-house counsel for a large tertiary pediatric medical center and director of risk management for a 14-hospital acute healthcare system for 10 years. It's a more holistic and inclusive organizational approach to risk management. All departments should look at every risk undertaking, including finance and IT. What that means: "Everybody needs to be a risk manager," according to Faye Sheppard, President of the the American Society for Healthcare Risk Management.Įnterprise risk management means looking across the healthcare continuum and empowering all the individuals throughout an organization take an active role in evaluating and assessing risk - then coming up with plans of action to address them. And as digital tools continue to proliferate hospital finance and operations executives are embarking on a tactic of enterprise risk management. But new tech brings fresh risk that must be managed. Providers looking for a competitive advantage are increasingly deploying new technologies to gain an edge.
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