Enterprise Risk Management
Risk management is an evolving science. Traditionally, regardless of industry, it has looked at current risks one at a time – on a largely compartmentalized or decentralized basis. Today, the emerging trend in risk management is Enterprise Risk Management (ERM), a proactive, coordinated, enterprise-wide model that assesses and manages all risks together, and uncovers opportunities. In the healthcare field, it promises to drive down losses as identified through deep analysis of patient safety data. With an ERM framework in place, organizations can better identify, measure, manage, and disclose key risks so they can improve patient safety systems and drive down claims costs while increasing value to stakeholders.
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