Vicente Academic Medical Center Case Study: Highlighting Healthcare Leadership's Role in Risk Management and Governance Training to Strengthen Oversight and Strategic Decision-Making

Abstract

Healthcare Enterprise Risk Management (HRM) Governance Training enhances the HRM implementation process and boosts oversight and strategic decision-making. The healthcare board's role in implementing an integrated HRM framework, setting strategic direction and risk appetite, and overseeing GRC frameworks should inspire confidence in leadership's influence on organizational resilience and risk management effectiveness, especially amid funding uncertainties. This reassurance encourages leaders to feel capable and motivated to drive change and is more effective when combined with HRM governance training. This case study review highlights that successful HRM implementation, continuous improvement, and risk management depend on engaging and training board members, executives, and risk-ownership committee members (strategy owners, risk-category owners, and functional owners), making them feel valued, responsible, and trained to promote an organizational-wide, risk-awareness culture that maintains and develops the organization's strategic goals and objectives. Preparing key strategic measures (e.g., aligning with the strategic plan, setting risk appetite and risk tolerance, and fostering a risk-aware culture) before launching HRM initiatives helps reinforce their importance and value in the process. A well-trained and engaged HRM board, executives, and risk ownership committee members are more confident in setting expectations for known, unknown, and unknowable risk events. KEYWORDS: healthcare enterprise risk management (HRM), HRM governance board training, HRM strategic decision-making, HRM implementation and governance