Healthcare Risk Management - What's Your Biggest Exposure?

If we think about a comprehensive healthcare riskSupply chains have also become a major
management solution, what are some of thehealthcare risk management issue for many
things that come to mind? If you look up thisindustries. Many new laws now require that
topic on the internet, you're sure to receive acontractor employees be screened almost to the
litany of different answers. Healthcare risksame degree as any new employee beginning
management could mean managing the risks ofwork. With this amount of new work, it is almost
who is going to pay you, managing privacy issues,impossible to operate without getting new funding.
or handling the risk of security breaches - the listIn the healthcare field, securing new funding,
goes on and on. I sat down with one of the mostparticularly for non-profits, can be difficult. "It
experienced healthcare professionals I know toalways helps to be able to draw a parallel
give me her perspective on risk from the top.between outgoing costs and securing new
Her name is Marsha Burke, and she was mostrevenue," said Marsha.
recently the Chief Executive Officer of WellStarEnsuring Patient Safety & Other Concerns
Health System, one of the largest health systemsBeing as risk-conscious as a CEO of a major
with over $1 billion in annual revenue and overhealthcare chain needs to be, Marsha successfully
1,300 hospital beds.implemented a healthcare risk management
Identifying a Proper Risk Management Solutionsolution powered by the latest technology.
One of the biggest healthcare risk managementHealthcare is a technologically-driven enterprise,
issues on her mind was patient safety. This topicbut even with all the advancements in the world
has garnered lots of attention in the news, andof MRI's, CT scans, and robotic surgeries, it's still a
multiple groups have dedicated teams reviewingvery service-oriented business, and service
this initiative. I asked Marsha Burke about all therequires people. You still have lots of people
advancements that hospitals have made withcoming and going. It's pretty easy to make sure
respect to patient safety, and if it was stillyour machines are secure, but the biggest risk is
possible to walk in to a patient's room withstill people. That's what a hospital's most important
unvetted access. The answer was yes. "Certainasset is. "Managing the risk between patients,
areas have more security than others, such asemployees, suppliers, sales reps and everyone
the baby ward and the intensive care units, but itelse coming onto the property can be daunting,
would be very difficult to try to secure all roomsbut it is still the most important part of a
of an entire hospital," mentioned Marsha. It is truehealthcare enterprise," Marsha re-iterated in
that security can at times collide with commerce,closing.
but hence the term risk management...not riskFinding a risk management solution that works,
elimination.while keeping to financial constraints, is a
The biggest concerns around healthcare risknecessity. Fortunately, there are healthcare risk
management security issues seem to still involvemanagement systems that exist to assist with all
people. We see it all the time where doctorsof these different issues. Some may do
whose medical licenses have been revoked areeverything, or nothing, or anything in between.
still practicing or where a nurse who isn't certifiedThe important issue to remember when it comes
somehow gets through the system. How do youto finding a healthcare risk management solution is
fix this problem? Marsha said that "if there was aDO NOT DO NOTHING. Patient safety isn't an
healthcare risk management solution that couldissue that is going to go away and, with all the
constantly monitor any changes in criminal historypolitical discussions regarding healthcare, now is not
or licensure status and instantly alert thea time to be on the front page news explaining a
employer if there has been a new incident, thatlack of a risk management solution. As Marsha
tool could be immensely helpful." Again, all of thismentioned, there are many facets of risk, but
boils down to cost.people are still the biggest one.