5 steps hospital boards must take to embrace risk

Hospital boards must take a more calculated approach to risk, according to Andrew Chastain, managing partner and chairman of Witt/Kieffer's healthcare practice. He suggests five steps to cultivate greater risk-taking: develop a structure that clarifies the board's role on risk; recruit board members with risk-related experience; provide training on risk to board members; put risk on the agenda at every meeting; and share logic behind new initiatives with board members. Report (.pdf)