News: Top 25 healthcare management risks include SDOH and No Surprises Act, report shows

In identifying healthcare management risks, the No Surprises Act, the social determinants of health (SDOH), workforce, and telehealth and remote patient monitoring were among the top few, according to a new report published by Crow LLP. The study identifies the 25 top management risks internal healthcare audit professionals are facing this year, HealthLeaders reported. The report lists the top risks in six different categories:

• Clinical risks: Behavioral health, patient safety, opioids, supply chain, and telemetry monitoring
• Emerging risks: Coronavirus Aid, Relief & Economic Security Act, health equity and SDOH, and robotic process automation
• Financial and operational risks: Accounts payable processing fraud, community benefits, inflationary economy, drug diversion and 340B, physician practices, vendors and business associates, workforce, and workplace violence
• Legal and regulatory compliance risks: Emergency Medical Treatment & Labor Act, Social Security Act Section 1135, telehealth and remote patient monitoring
• New regulation risks: Cybersecurity, the No Surprises Act, and state-regulated data privacy
• Technology risks: Cybersecurity insurance and ransomware preparedness, IT and operational business continuity management, and post-merger integration of IT systems and data

To identify top risks, researchers used input from the executive management and board members of some of the largest United States health systems, as well as data from hundreds of health systems, hospitals, and various other healthcare providers clients collected in Crowe LLP’s 2022 risk assessments. The report defined a risk area as anything that could impede a healthcare organization’s ability to improve patient care, regulatory compliance, operations, strategic growth, and financial performance.

Auditing, particularly in the areas of process effectiveness and compliance, can help healthcare organizations combat these risks, the report said. It recommended that internal audit and compliance departments align their risk assessments and audit work plans to areas most vital for achieving their organization’s goals and objectives, while also complying with regulations and requirements.

Editor’s note: To read HealthLeaders’ coverage of this story, click here. To read the Crow LLC report, click here.