Key considerations to make when choosing a healthcare risk assessment software
Healthcare is one of the most risk-exposed industries in the world, with nearly 93% of organisations experiencing a data breach during the past three years since 2020. Here is how risk assessment software can help to manage these risks and how you can choose the ideal one for your healthcare organisation.
Key considerations to make when choosing a healthcare risk assessment software
Healthcare is one of the most risk-ridden industries in the world, with nearly 93% of organisations experiencing a data breach during the past three years since 2020. Here is how risk assessment software helps manage these risks and how you can choose the ideal one for your healthcare organisation.
How Healthcare Risk Assessment Software Helps
Risk assessment software can dramatically simplify the process of conducting risk assessments, speeding up the process, improving collaboration, and providing easy-to-understand visual representations of the risk landscape.
One of the core benefits of implementing risk assessment software is the ability to manage risks in a centralised platform, which eases the process of risk identification and mitigation.
They also offer the ability to create custom risk matrices that can be used as an easily comprehensible, visual representation of the scope of risk.
One of the biggest considerations for healthcare organisations around the world is regulatory compliance. Risk assessment software can simplify the compliance process by giving you the ability to formulate and implement treatment plans to address compliance gaps.
As risk assessment software continuously identifies, evaluates and manages risks, it can create a repository of valuable data it can then use to provide comprehensive reporting and analytics.
In the process of assessing risks through software solutions, you can also identify opportunities for cutting costs, either through operational shifts or strategy implementations.
Now that you are aware of what risk assessment software can do for your organisation, here is what you need to consider before investing in one.
How Healthcare Risk Assessment Software Helps
Risk assessment software can dramatically simplify the process of conducting risk assessments, speeding up the process, improving collaboration, and providing easy-to-understand visual representations of the risk landscape.
One of the core benefits of implementing risk assessment software is the ability to manage risks in a centralised platform, which eases the process of risk identification and mitigation.
They also offer the ability to create custom risk matrices that can be used as an easily comprehensible, visual representation of the scope of risk.
One of the biggest considerations for healthcare organisations around the world is regulatory compliance. Risk assessment software can simplify the compliance process by giving you the ability to formulate and implement treatment plans to address compliance gaps.
As risk assessment software continuously identifies, evaluates and manages risks, it can create a repository of valuable data it can then use to provide comprehensive reporting and analytics.
In the process of assessing risks through software solutions, you can also identify opportunities for cutting costs, either through operational shifts or strategy implementations.
Now that you are aware of what risk assessment software can do for your organisation, here is what you need to consider before investing in one.
Factors To Consider When Choosing Healthcare Risk Assessment Software
Investing in risk assessment software as a healthcare organisation is a sound decision, financially and operationally, as they offer a high level of risk management that cannot be achieved by conventional means. However, it is an investment decision that needs to be made with as much information on hand as possible.
So, here are the core functionalities you should look for when choosing risk assessment tools in healthcare.
The ability to ensure regulatory compliance
Healthcare organisations are bound by a wide array of regulations, ranging from the US’s HIPAA to the EU’s GDPR. Your risk assessment software must be able to identify gaps in compliance by enabling comprehensive risk assessments and offering the functionality to build a central repository of compliance information from regulatory frameworks.
The ability to protect patient data
There have been 337 data breach attacks that affected 19,992,810 individuals, just within the first six months of 2022. Your risk assessment software must be able to identify data breaches, ransomware attacks, and other potential threats that target patient data, implement security controls, and detect and respond to threats in real-time.
The ability to safeguard patients and staff
Workplace risks such as a breakout of disease and infection can cause serious disruptions in operations and affect the safety of patients and healthcare professionals. Your risk assessment software must offer the functionality to conduct health, safety, and environmental hazard risk assessments and improve safety with obtained risk insights.
The ability to safeguard patients and staff
Workplace risks such as a breakout of disease and infection can cause serious disruptions in operations and affect the safety of patients and healthcare professionals. Your risk assessment software must offer the functionality to conduct health, safety, and environmental hazard risk assessments and improve safety with obtained risk insights.
Apart from these considerations, you should also make sure that the risk assessment software has a user-friendly interface for ease of use, and system processes that facilitate and encourage collaboration, while also offering a level of scalability that aligns with your strategic goals.
Enhance your healthcare organisation's security risk management capabilities with SECTARA
SECTARA is a security risk management software that offers a wealth of capabilities for security risk assessment, collaboration, and other critical management functions.
Aligned with the global standards and best practices for security risk management like ISO 31000, Standards Australia’s Handbook 167, and the NIST Framework, SECTARA guarantees the highest level of risk management for your healthcare organisation.
It can also ensure compliance with regulatory frameworks that govern the healthcare industry such as HIPAA, HITECH, and GDPR, which is a huge weight off any healthcare provider’s shoulders.
Leverage the capabilities of SRM software powered by military-grade encryption. Try out SECTARA today with our 14-day free trial.
Click the button below to sign up. No credit cards or other commitments are necessary.
Some of the industries we serve
Government
Identify, monitor, and manage systemic risks associated with policy implementation, public safety, and national security with a scalable and configurable risk assessment solution.
Critical infrastructure
Obtain insights to identify and mitigate potential threats to critical infrastructure like energy, transportation, and communication systems through professional risk assessments.
Mining
Ensure safe, secure, and efficient operations and overcome common mining challenges like equipment failure and environmental hazards via a professional risk assessment solution.
Defence
Obtain a comprehensive view of potential threats to national and regional security and implement effective risk management strategies with military-grade risk assessment solutions.
Healthcare
Ensuring the safety of patients, staff, and other stakeholders while managing risks associated with medical procedures and data privacy through a configurable risk assessment solution.
Finance
Identify, monitor, and manage critical risks like market volatility and data breaches with a risk assessment solution to protect stakeholder assets and ensure regulatory compliance.
Consultancy
Help your clients make informed decisions about risk management by leveraging insights from a professional risk assessment solution that helps identify, address, and monitor risks.
Cybersecurity
Protect your digital assets with our advanced cybersecurity risk assessment solutions. Stay ahead of evolving threats and fortify your defences with comprehensive risk assessments.
Education
Identify and mitigate compliance, finance, operational, and reputational risks in processes such as student selection and regulatory adherence with professional risk assessments.
Experience the capabilities of SECTARA™ first-hand. Sign up for our 14-day free trial today.
Start your 14-day free trial
What you get with our free trial
2 users (Account Admin, Org & BU Admin, Assessor, Viewer)
2 concurrent assessments
2 organisations & business units
In product training
The ability to export assessments to MS Word
MS Excel treatment plans
White label SECTARATM platform
White-label exported documents
Audit records
Experience the capabilities of SECTARA™ first-hand. Sign up for our 14-day free trial today.
What you get with our free trial
2 users (Account Admin, Org & BU Admin, Assessor, Viewer)
2 concurrent assessments
2 organisations & business units
In product training
The ability to export assessments to MS Word
MS Excel treatment plans
White label SECTARATM platform
White-label exported documents
Audit records
Start your 14-day free trial
Frequently Asked Questions
What are risk assessment tools in healthcare?
Healthcare risk assessment tools are software that provides the ability for healthcare organisations to identify, assess, mitigate, and continuously manage risks that affect the healthcare industry.
What software is used for risk analysis?
Conventionally, programs like Microsoft Excel are used for risk analysis and assessment, however, dedicated risk assessment software like SECTARA has extended functionality that can cater to the specific needs of different organisations in different industries.
What is a risk assessment matrix in healthcare?
A risk assessment matrix in healthcare is a visual tool that can be used to showcase and prioritise risks based on their likelihood of occurrence and severity of impact. Risk assessment software usually offers the ability to create custom risk matrices.
