The analysis is based on assessments of nearly 3,000 risks in 2018 for more than 250 hospitals, health systems, physician practices and other healthcare entities. To determine top risk areas, Crowe examined how often a risk was included in assessments by healthcare entities. Researchers said they also considered each risk’s effect on the healthcare entity and how likely the risk will negatively affect patient care, regulatory compliance and other critical goals.
Rather than ranking the risks, Crowe put them under five categories, although top risks may be relevant to multiple categories. The top risks based on likelihood of occurrence and their effect on organizations are:
Compliance
- 340B Drug Pricing Program
- HIPAA
- Nonphysician contracts
- Physician contracts and compensation
- Pharmacy
IT
- Business continuity and disaster recovery
- IT governance
- Cybersecurity
- Systems access management
- Systems implementation
Operations
- Case management
- Financial performance
- Health information management
- Joint ventures
- Physician practices
- Third-party vendor management
Patient care
- Quality and safety
- Telehealth and telemedicine
Revenue cycle
- Billing and collections
- Charge capture
- Coding
- Denials management
- Patient access
More articles on leadership and management:
4 ways leaders can overcome their fear of failure
Public health will frame gun debate for House Democrats next year
NewYork-Presbyterian CIO Daniel Barchi on the strategic initiative he’ll tackle in 2019
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.