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As proceedings commence with the Royal Commission into Aged Care Quality and Safety, Approved Providers need to immediately assess what this means for their organisation’s Governance, Risk Management and Insurance.
Ansvar can assist you by:
– Helping you to assess your corporate and clinical governance,
– Helping review and strengthen your risk management, and
– Engaging with your broker around your policy and claims matters including sharing information sourced from our experienced partner networks and our Aged Care Strategy.
Ansvar Risk Senior Risk Consultant Anthony Black (pictured) has this advice:
“We will ask the questions first – before the Royal Commission asks you!”
Anthony says it is crucial that Boards and Executives review the effectiveness of their Risk Management Framework to strengthen governance.
“You need to ask:
– Do you have a current strategic plan that outlines the direction and objectives of the organisation, including specific reference to resident safety and wellbeing?
– Has the risk management framework and the risk maturity of your organisation been reviewed in the last 12 months and an improvement plan in place?
– Is there a strong enough focus on strategic risks and does Board have line of sight to risks that they must know about?
– Do you have a plan to improve risk communication that involves staff involvement and practical tools and resources?
“We know that the more mature an organisation’s risk framework the more likely it is to make sound decisions, prevent harm, achieve objectives and become more resilient.”
The major risks confronting Aged Care Providers
Anthony recommends that, as a minimum, Approved Providers should have formally assessed risks against their organisational objectives in the following areas:
– Governance and Culture
– Resident Safety
– Financial Sustainability
The Aged Sector is already under pressure.
The announcement of the Royal Commission comes at a time when there is already significant complexity in the sector:
– Establishment of the Aged Care Quality and Safety Commission to centralise accreditation, compliance and complaints handling
– Transition to new Single Aged Care Quality Framework and Standards
– Increasing care requirements and workforce capability gaps.
– Significant pressures on financial performance and sustainability.
Navigating uncertainty and making sound decisions in this context relies on effective governance.
The Board is ultimately responsible for corporate and clinical governance and must review its capabilities and capacities to respond to its roles and obligations. Central to this should be specific consideration to the effectiveness and maturity of its risk management framework.
Ansvar can offer support to your organisation:
The Ansvar risk team are experts – we understand the sector, and we have a range of resources and tools to assist you in preparing for the Royal Commission.
In the coming weeks there will be more specific communications about our strategy and timeframes
0402 239 149