Risk function response to COVID-19 in the healthcare industry

This podcast explores the impact of the coronavirus on three major healthcare organizations – and their risk functions.  While their experiences varied, all were challenged by the virus in multiple ways.

Mount Sinai Health System, located in the heart of New York City, and the center of the early U.S. outbreak, was at the forefront of managing the disease in an overwhelmed system.  HCA Healthcare had to quickly coordinate a response to COVID-19 in 43 different markets, with many of those markets impacted at the extreme ends of virus-patient needs. Mayo Clinic, among the highest ranked hospitals in the nation, has been on the front line leading both COVID-19 treatment and research.

Topics addressed include:

• examples of how differently risk teams have been redeployed during the pandemic to help ensure patient-care and business needs are met
• how audit teams have recalibrated priorities, replacing the annual plan for functional responses that lend relevancy and credibility in the face of a crisis
• what the impact of short-term budget saving pressures might have on long-term risk projects
• the responsibility of documentation and audit readiness to defend coronavirus recovery and relief dollars
• how to maintain trust and drive accountability, the cornerstone of the risk function, when staff is working remotely and client relationships must be sustained virtually
• the unexpected risk function opportunities that have opened as a result of COVID-19.