Preview Edition / Fall 2004
RISK FINANCING &
CLAIMS ADMINISTRATION INSIGHTS
Tips on how to present to the insurance marketplace
What is Enterprise Risk Management?
Enterprise risk management is a comprehensive process that evaluates all risks confronting an organization. These risks might be insurable or uninsurable and may traditionally be handled by different divisions within a given organization Once all risks are identified, evaluated and measured, the organization can develop prioritized organization-wide solutions and strategies for dealing with those risks.
Health Care Enterprise Risk Management
Enterprise Risk Management is particularly important in today’s health care environment for reasons including:
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One of the greatest challenges facing hospitals today is ensuring patient safety. Variability of patient care represents a significant risk that cannot simply be transferred to insurance. Recent emphasis on patient safety requires providers to focus on prevention through better management of their risks.
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Health care delivery systems are facing increased financial scrutiny and concerns regarding patient safety. Risk management has come to the spotlight with the 2002 Sarbanes-Oxley Act, which increases requirements for accounting oversight and has forced companies to broaden their assessment of their own risks. As investors and regulators demand greater risk transparency, efforts are increasing to assess the health care organization’s myriad risks and cover them in a strategic risk management program.
MORE INSIGHTS
Is your organization at greater risk because of the increase in physician medical professional liability insurance cost?
Finding the right risk management information systems
Tips on how to present to the insurance marketplace
A summary of common initiatives under discussion