ERM for Health Care Organizations: An Economic Enterprise Risk Management Innovation Program (E²RM_{health care})

Area of Science:

• Healthcare Management
• Risk Management
• Health Economics

Background:

• Healthcare organizations increasingly seek advanced systems for data-driven risk strategies.
• Enterprise Risk Management (ERM) is being explored for novel applications in healthcare.

Purpose of the Study:

• To propose a conceptual ERM framework tailored for healthcare organizations.
• To provide a structured approach for implementing ERM in the healthcare sector.

Main Methods:

• Qualitative analysis of interviews with 15 Chief Risk Officers in US and Brazilian hospitals.
• Exploration of ERM process structuring and implementation within hospital management.

Main Results:

• Adoption of ERM in healthcare is gaining momentum and is a management priority.
• Healthcare risk managers commonly demand risk economic assessment orientation.

Conclusions:

• A novel Economic Enterprise Risk Management in Health Care (EERM-HC) model is proposed.
• The model features four maturity levels and an implementation timeline with guidelines.
• Emphasis is placed on gradual ERM implementation and risk economic assessment.