While healthcare organizations can’t go back in time, they can move forward by anticipating and mitigating risks associated with the COVID-19 pandemic and other large-scale events. Angie Fearon, Plante Moran senior manager, partnered with ChristianaCare CFO, Rob McMurray and HFMA to share how enterprise risk management (ERM) strategies can help your system emerge stronger.
The middle of a pandemic seems like an apt time to discuss risk management. One of the key lessons from the past year is how quickly an unexpected event can fundamentally disrupt day-to-day activities, upend financial margins and derail strategic plans. Although healthcare organizations can’t turn back time to change their initial level of COVID-19 preparedness, they can commit to anticipating, planning for, and mitigating risks going forward, whether those relate to the virus’s ongoing evolution or other large-scale events.