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Healthcare provider organizations (HPOs) are starting to recognize the value of consolidating vendors and implementing an Enterprise Risk Management solution that is both holistic and comprehensive. But finding software – and a vendor – that can fulfill the promise of a true integrated solution for Enterprise Risk Management in healthcare can be tricky.
Part of the challenge is confusion in terminology. Enterprise Risk Management – or ERM for short – is used by
Jay Lechtman
Global manufacturers, among the hardest-hit by the COVID-19 pandemic, are looking for tangible ways to bolster resiliency – and for many that meant requesting a higher risk budget for 2021.
Risk leaders are already investing 28 cents of every dollar for technology updates to help strengthen resilience. But simply throwing more money at a problem
Jim Wetekamp
With a return to “normal” still stubbornly distant, COVID-19 remains the prominent force shaping claims trends. In many places, restrictions were cautiously eased – just to be restarted when cases surged. And businesses were left trying to take it all in stride.
How does that uneven impact translate into incident experience? Here’s a look at current trends by line of coverage and by industry, based on the U.S. property and casualty incident data of more than 40
Marina Mats;Deepak Varshney
The risk management function is undergoing a fundamental transformation spurred by the coronavirus pandemic. Once viewed as a back-office function that rarely got the attention of the C-suite, risk teams are now sitting at the strategy table with other senior leaders.
From the center of the corporate spotlight, risk professionals have the platform to drive change. This is your opportunity to reinvent the business of managing risk, strengthen enterprise defenses, and increase op
Jim Wetekamp
When an adverse event occurs, the immediate priority is to deal with the situation at hand. Move beyond those immediate and reactive issues and the improvement-minded naturally begin to think about causal and contributory factors and their related corrective actions. These typically fall into two key areas: human and system factors.
Human FactorsDriven by regulatory and accreditation attention in some areas – along with a genuine desire to continually i
COVID-19 threw risk managers into the spotlight overnight - and they shined. Risk managers helped make business-critical decisions and drive corporate agendas, earning a well-deserved seat at the strategic table.
Even so, the pandemic was a wake-up call. The crisis uncovered how vulnerable businesses are to systemic events - and how ill-equipped the traditional risk management approach is to handle the fallout. The way risk is managed needs to be reinvented. And risk managers are read
Jim Wetekamp
The COVID-19 pandemic is causing organizations to reevaluate how they manage enterprise risks, experts say.
A World Economic Forum report released Oct. 8 found the spread of infectious disease is a major concern for executives in th
In a world defined by social distancing, telemedicine is now an indispensable form of healthcare delivery. Providing care virtually can broaden access, reduce costs, and save time – but it’s not without risk.
While the ability to meet virtually with medical professionals is not new, the pandemic has significantly accelerated its adoption by providers and patients alike. Indeed,
Jay Lechtman
Healthcare provider organizations were at the bullseye of the pandemic. As providers of care, a pandemic was something most organizations planned for. But the size and scope of COVID-19 still appeared to catch many off guard, with endless news stories about equipment shortages and overburdened staff. To find out how the view looked from the inside, Riskonnect surveyed healthcare provider organizations about their response to the pandemic. Here’s a snapshot of the results:
Every industry has felt the effects of the COVID-19 pandemic – but some have clearly been impacted more deeply than others. Grocery stores saw soaring sales as customers stocked up on supplies. Revenue from sports venues, on the other hand, came to a crashing halt.
A look at incidents by industry tells a similar tale. Riskonnect examined the U.S. property and casualty incident data of over 400 organizations across 20 industries to help companies determine if their COVID-19 incid