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Turbulent Waters. Uncharted Pathways. An Untested Compass.

Turbulent Waters. Uncharted Pathways. An Untested Compass.

Just as these factors can frustrate a successful expedition in a strange land, so will they cause health system boards to uncover difficult risks in their transition from volume to value situations. Our work with boards across the US finds a baker’s dozen of 13 key risks facing the work of hospital and health system boards.

The Conference Board understands that any business is exposed to risks that can threaten its ability to execute its strategy. For this reason, strategy and risk oversight are inherently connected. Today, more than ever, the board of directors is expected to thoroughly assess key business risks and ensure that the enterprise is equipped to mitigate them.1

At Gallagher Integrated, we have identified these 13 risks:2

1.     Physician Contracting

2.     Relationships among board, medical staff and administrative leaders

3.     Accreditation

4.     Philanthropy and donor relations

5.     Population health management

6.     Tax-exemption

7.     Stakeholder engagement

8.     Executive oversight

9.     Quality of care oversight

10.   Payer contracting

11.   Capital financing

12.   Talent erosion

13.   Strategic Alliances

 

Practical dimension of these risks and how to remove or reduce them can be found in this downloadable resource:

How prepared is your board to manage and mitigate these risks? Which risks are the most important for your context in the coming year?

Contact our advisers to explore how to develop a customized Risk Mitigation Plan for your organization by emailing info@ihstrategies.com.

 

 
James A. Rice

James A. Rice, PhD, FACHE is the Managing Director & Practice Leader of the Governance &  Leadership practice of Integrated Healthcare Strategies, a division of Gallagher Benefit Services, Inc.  He focuses his consulting work on strategic governance structures and systems for high performing, tax-exempt health sector organizations and integrated care systems; visioning for health sector and not-for-profit organizations; and leadership development for physicians and medical groups.

Dr. Rice holds master’s and doctoral degrees in management and ...

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