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
4. Philanthropy and donor relations
5. Population health management
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 email@example.com.