The full impact of the UK’s ageing population on health and social care services is still yet to be seen, however while it is leading to increased costs for the public sector, it is probable it will create new commercial opportunities for private companies.
Since the creation of the NHS in 1948 the main concerns for the healthcare industry have shifted; whereas at its inception its main purpose was the treatment of disease, many diseases have since been cured. Now that the population is living longer, long-term complex conditions or chronic illnesses are among the most pressing factors facing the healthcare sector. For example when examining the possible impact of this increasingly ageing population, researchers predict that by 2031 cases of coronary heart disease, heart failure and atrial fibrillation will increase by 44 per cent, 54 per cent and 46 per cent respectively.*
However with the NHS and Social Care under strain from reduced funding in relative terms, greater demand, and increasingly longer waiting times for many of its services, the private sector is becoming a more and more attractive to many patients.
With the opportunities for private healthcare evident, it is possibly unsurprising that this is reflected in our Risk and Confidence survey, which found a 4% increase in confidence within the sector. This is a dramatic statistic when one considers that private healthcare and life sciences (including businesses in pharma, devices, and research and biotech spheres) are the only two sectors that become more confident when looking ahead from Spring to Autumn 2017. Perhaps, therefore, the private sector is harnessing the opportunity for growth as a result of the increased demand and negative press about poorer access and reduced services the NHS has been receiving recently coupled with the option to bid on tenders for NHS contracts.
But for private healthcare facilities to thrive, they too must avoid failings that could lead to results and reputational implications. For this to happen, they must take their governance seriously, as with the proper framework in place, quality improvement should follow as a result with fewer claims for negligence or a lack of valid consent made.
The following tips can help the boards of all healthcare organisations improve accountability, effectiveness and control:
• Establish Robust Oversight for Risk and Quality: Board members must partner with key risk management and clinical staff to collaborate on improving processes and safeguards. Set up a Risk Committee to monitor, quantify, and evaluate the organisation’s risks by gaining assurance (verifiable evidence) that controls are working, and establish mitigation procedures where they are not. Establish an Audit Committee to monitor and report on financial and operational performance and ensure that reports on key topics – such as revenue, clinical performance, changes in service area, patient satisfaction, recruitment and retention – are evaluated and acted upon. Governance should be constantly monitored and if necessary adjusted, with continuous learning and feedback given to staff.
• Strengthen Alliances with Executive Leadership: Establish clear reporting lines and an open culture to strengthen communication and accountability regarding risk exposures and mitigating strategies. Make sure your staff and patients know who to go to with risks and issues and actively encourage them to be communicated.
• Refine Core Competencies: To avoid a blame culture and keep open lines of communication Board members must demonstrate skills in mediation, and engender a culture of intellectual honesty and integrity, strong ethical values, and a “systems thinking approach” to problem solving.
Caroline White, International Healthcare Risk Director
Download your copy of the CNA Hardy Risk and Confidence Survey at www.cnahardy.com/pulse
*According to the Pharmaceutical Journal.