Like every other organization in the healthcare industry, HCSC is dealing with major change. Key changes in the business model have resulted in an increased use of third parties within the organizations eco-system. Some might argue leveraging third parties is a natural evolution, which does not mitigate the fact expanding an organization’s eco-system introduces risks which needs to be understood, measured, mitigated and monitored on an ongoing basis. HCSC has established a comprehensive risk management and supplier governance program. Breaking down the components of risk in order to assess and develop practical mitigating actions. The risk management program is the foundation of the Enterprise Supplier Management (ESM) program, with more than 200 suppliers assessed, HCSC has partnered with a third party to help provide a managed service for their higher risk supplier relationships, hence allowing the ESM team to partner with the business to develop risk mitigation strategies for supplier relationships. This session will provide a practical insight to the successes and challenges HCSC has faced in establishing this program and help others accelerate along the journey. HCSC will share their approach to Risk Management and the engagement structure they have in place to partner with the business and monitor key supplier relationships on an ongoing basis.

Contributors: HCSC
Categories: Regional Roundtable
SRC Type: Risk Management, Risk Management Outsourcing (RMO), Sourcing Management