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For smaller hospitals burdened with personnel shortages, increased costs and reduced reimbursement, the challenge grows — especially when documentation demands overwhelm clinicians and limit the time and energy they have to focus on patient care.

Top 10 operational risks for executives in 2020

Rapidly changing business environments are giving organisations around the world reason for concern, with Protivity revealing the top operational risks for executives in 2020.

With ever-present concerns over cyber threats, increasing market disruption, and the rise of artificial intelligence, the potential for unwelcome surprises vividly illustrate the reality that organisations of all types face, Protivity says.

The report found board members and C-suite executives worldwide perceive a slightly less risky business environment in 2020 compared to 2019, with only two of the top 10 risks rated higher in 2020 than they were in 2019.

new risk added in this year's survey made it to top 10 (tenth overall), which is the ability to attract, retain and reskill talent needed for organisations to adopt digital technologies (e.g., AI, robotics, natural language processing, among others).

Undoubtedly, the global epidemic such as the recent outbreak of Coronavirus will have devasting impacts, in both immediate and long-term aspects, to the economic conditions, which ranks No.2 in the Top 10 Risks, in the survey, which also maps out other key risk issues on the minds of directors and executives across the globe.

"In this digital age, enterprise risk management has an important role to play in strengthening and nurturing the appropriate risk culture that facilitates the initiative, creativity, innovation and digital thinking so critical to success.

"Boards of directors and executive management teams cannot afford to manage risks casually on a reactive basis, especially considering the rapid pace of disruptive innovation and technological developments in an ever-advancing digital world."

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