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Health care risk leaders are keeping their heads above water for now
But a tidal wave of new risks may force them to sink or swim
Most health organisations believe they are prepared for the health care risks of today. But a tidal wave of new challenges and risks is coming, calling for a fresh approach to risk management that capitalises on future opportunities.
With the aim of understanding the level of alignment and prioritisation that health systems and health plans have on organisational risks now and in the future, the Deloitte Center for Health Solutions recently surveyed health system and health plan chief financial officers (CFOs) and interviewed risk leaders (chief risk officers [CROs], chief audit executives, and chief compliance officers). Our findings offer insights into emerging opportunities to manage risk through collaboration and investment, and we offer suggestions on how health care organisations can prepare for the future, starting today.
Our research showed that CFOs and risk leaders at health care organisations are at present generally aligned on managing key risk areas and believe they are prepared. CFO priority areas are consumer engagement, cybersecurity, transitioning to value-based care, and technology and digital business transformation, while cybersecurity, privacy, and patient safety are the focus areas for risk leaders.
However, there are some early indicators that the risk functions at these health care organizations lack the capacity (talent, organisational flexibility, technology) or the time to prepare for the type and pace of change the health care industry is likely to experience in the coming years.
Read more on these insights here