Milliman's UK health consultants use advanced methods that combine knowledge and techniques from different disciplines to help our National Health Service (NHS) clients manage their risk at a whole-systems level. We possess wide knowledge of how enterprise risk management (ERM) methods from other areas can be applied in the complex world of healthcare.
All NHS organisations face huge financial and non-financial risks due to the broad array of services they provide. ERM is an invaluable method for quantifying both the readily definable risks and those which are intangible, such as operational risk. A thorough understanding of ERM drives wise decision-making by allowing an organisation to see how risks from different teams and functions combine to create an overall risk profile, rather than managing individual risks in silos.
Our UK team works with healthcare organisations to devise robust ERM platforms. Our ERM process for these clients encompasses evaluations of the different components of risk and the combination of risks at a whole-systems level.
Advanced techniques yield new insights
Our UK healthcare team uses our advanced methods in performing its ERM work. Our groundbreaking technique, CRisALIS™ (complex risk assessment, linkage identification, and simulation), creates a consistent process for measuring risk, providing deep insight to managers of primary care trusts and other NHS entities. Combining techniques from behavioral science and engineering, CRisALIS supplements actuarial calculations with in-depth interviews of organisation staff. This comprehensive methodology helps organisations manage potential threats and identify opportunities.