Prevent Harm, Improve Care
ERM ( Enterprise Risk Management) Promotes a comprehensive framework for making risk management decisions which maximize value protection and creation by managing risk and uncertainty and their connections to total value
ERM: Overview
Comprehensive assessment to identify & prioritize organizational risk
Develop & implement a framework and structure to manage organizational risk
- Identify areas of risk and risk owners
- Resources & tools to effectively manage risk
- Facilitate buy-in across the organization ? Governing
Board
Ongoing monitoring & evaluation to validate effectiveness of ERM program
ERM Services
- Regulatory compliance
- Licensure, scope of practice, reporting requirements, privacy, consent
- Develop & implement: • Policies, procedures, forms
- Internal processes & workflows
- Consultative advice
- Real-time guidance for evolving clinical situations
- Recurrent or topic-specific situations
- Focused education programs
- Review & advice on insurance: PL, GL, Cyber/Breach, etc.
Impact of ERM
- Advances safe & trusted healthcare
- Prevents harm & improves outcomes
- Preserves resources & manages uncertainty
- Supports compliance with laws & regulations
- Encourages multi-disciplinary accountability & transparency
- Optimizes organizational readiness
- Promotes a positive organizational culture
ERM Practices:
1. Are continuous;
2. Require a paradigm shift in how org identifies/manages risks/opportunities;
3. Are “not a stop on the road, but a journey.”