ERM for Health Care Organizations: An Economic Enterprise Risk Management Innovation Program (E2RMhealth care)

Etges, Ana Paula Beck da Silva; Grenon, Veronique; Souza, Joana Siqueira de; Neto, Francisco José Kliemann; Félix, Elaine Aparecida

doi:10.1016/j.vhri.2018.03.008

Cited by 9 publications

(13 citation statements)

References 14 publications

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“…The public sector is very vast and risk management can be challenging in the midst of increasing government projects, globalization and the consequence of inter-governmental transactions through the public sector (Woods et al 2017). The scope of responsibilities of auditors and those in charge of governance has increased tremendously in recent times, making it practically impossible to validate each activity that is performed in order to identify potential risk (Da Silva Etges et al 2018). Looking forward, we believe that an auditor's role in risk assessment should be supplemented with computerized internal control systems, segregation of duties, periodic review, and communication of timely information within the public sector in order to minimize the occurrence of risk and the impact on performance.…”

Section: Discussionmentioning

confidence: 99%

“…That is why every organization implements risk assessment to identify threats and then manage them efficiently since business conditions are constantly changing Baumgartner and Rauter 2017;Da Silva Etges et al 2018). It is relevant to perform risk assessment to identify the internal and external threats that the entity is exposed to (Dementiev 2016;Dong et al 2017).…”

Section: The Concept Of Riskmentioning

confidence: 99%

“…However, internal control still maintains its traditional role of keeping the entire organization under check through the five elements that controls seek to rectify-company policies, performance standards, financial reporting and segregations of functions (Da Silva Etges et al 2018;Demek et al 2018). Review, monitoring, and consistent evaluation by auditors will form part of the risk management activities (Jawadi and Louhichi 2017).…”

Section: Importance Of Risk Management In the Public Sectormentioning

confidence: 99%

“…However, internal control focuses primarily on compliance while risk management enhances performance . Based on this knowledge, the conceptual framework (Figure 2), outlined a set of variables developed from a wide range of literature relevant to the study (Cofie 2016;Davis 2016;Dementiev 2016;De Magalhães and Trigo 2017;Dong et al 2017;Da Silva Etges et al 2018;Demek et al 2018). We hypothesized the implementation of a commitment to ethics, control environment, segregation of duties, review and information and communication as agents of internal control which could significantly influence and minimize the impact of risk on the performance of public entities.…”

Section: The Conceptual Framework and Hypothetical Assumptionmentioning

confidence: 99%

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The Value of Public Sector Risk Management: An Empirical Assessment of Ghana

Kong

Lartey

Bah

et al. 2018

Administrative Sciences

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This study investigates risk management practices in public entities in the Ghana. We relied on the popular framework designed by the Committee of Sponsoring Organizations of the Treadway Commission-COSO, to advocate for possible ways to minimize the occurrence and effects of risk in public organizations. The internal control elements used include: control environment, commitment to ethics, segregation of duties, review and information and communication. These constitute the explanatory variables used in performing multivariate data analysis to determine the dimensionality of the data set and possible outcomes. The exploratory research followed a quantitative approach using the survey method and a structured equation model. We established that, due to globalization and increases in the scale of operations, it is practically impossible for management through the help of auditors and those in charge of governance to validate the entire operations of the public sector to ensure strict compliance to internal control principles, in order to minimize the detrimental impacts of risk. However, an alternative sustainability depends on the prominence of quality financial reporting, compliance, commitment to ethical values and consistency in pursuit of the strategic and operational objectives based on good corporate governance. On the other hand, the implications of risks should be embedded in the minds of public servants as part of the organizational culture that will complement existing tools and techniques of internal control.

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Section: Discussionmentioning

confidence: 99%

Section: The Concept Of Riskmentioning

confidence: 99%

Section: Importance Of Risk Management In the Public Sectormentioning

confidence: 99%

Section: The Conceptual Framework and Hypothetical Assumptionmentioning

confidence: 99%

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The Value of Public Sector Risk Management: An Empirical Assessment of Ghana

Kong

Lartey

Bah

et al. 2018

Administrative Sciences

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“…The authors previously interviewed 15 hospital risk officers from Brazil and the USA and presented a novel model for healthcare risk management, the Economic Enterprise Risk Management innovation program for healthcare: E 2 RM healthcare [19]. This previous research identified qualitative differences in individual risk perception capabilities among risk managers from large and small hospitals based on personal background and whether the hospitals were associated with a school of medicine.…”

Section: Introductionmentioning

confidence: 99%

Development of an enterprise risk inventory for healthcare

Etges

Grenon²,

Lu³

et al. 2018

BMC Health Serv Res

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BackgroundThe first phase of an enterprise risk management (ERM) program is the identification of risks. Accurate identification is essential to a proactive and effective ERM function. The authors identified a lack of such risk identification in the literature and in practical cases when interviewing the chief risk officers from healthcare organizations. A risk inventory specific to healthcare organizations that includes detailed risk scenarios and risk impacts currently does not exist. Thus, the objective of this research is to develop an enterprise risk inventory for healthcare organizations to create a common understanding of how each type of risk impacts a healthcare organization.MethodERM guidelines and data from 15 interviews with chief risk officers were analyzed to create the risk inventory. The identified risks were confirmed through a survey of risk managers from a range of global healthcare organizations during the ASHRM conference in 2017. Descriptive statistics were developed and cluster analysis was performed using the survey results.ResultsThe risk inventory includes 28 risks and their specific risk scenarios. Cyberattack was ranked as the principal risk by the participants, followed by sentinel events and risks associated with human capital management (organizational culture, use of electronic medical records and physician wellness). The data analysis showed that the specific characteristics of the survey participants, such as the length of time working in risk management, the size of the organization, and the presence of a school of medicine, do not impact an individual’s opinion of the importance of the risks identified. A personal background in risk management (clinical or enterprise) was a characteristic that showed a small difference in the perceived importance of the risks from the proposed risk inventory.ConclusionsIn addition to defining specific risk scenarios, the enterprise risk inventory presented in this research can contribute to guiding the risk identification phase of an ERM program and thereby support the development of a risk culture. Patient data security in hospitals that operate with high levels of technology is fundamental to delivering high quality and safe care to patients. At the top of the risk ranking, the identification of cyberattacks reflects the importance that healthcare risk managers place on this risk by allocating time and other resources. Exploring opportunities to improve cyber risk management and evaluating the benefits of using the risk inventory at the beginning of the risk identification phase in an ERM program are suggestions for future studies.Electronic supplementary materialThe online version of this article (10.1186/s12913-018-3400-7) contains supplementary material, which is available to authorized users.

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How to Build a Risk Management Culture that Supports Diffusion of Innovation? A Systematic Review

Hirzallah

Alshurideh

2023

Studies in Computational Intelligence

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ERM for Health Care Organizations: An Economic Enterprise Risk Management Innovation Program (E2RMhealth care)

Cited by 9 publications

References 14 publications

The Value of Public Sector Risk Management: An Empirical Assessment of Ghana

The Value of Public Sector Risk Management: An Empirical Assessment of Ghana

Development of an enterprise risk inventory for healthcare

How to Build a Risk Management Culture that Supports Diffusion of Innovation? A Systematic Review

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