The healthcare industry is facing a rapidly evolving landscape marked by significant federal policy shifts that bring both challenges and opportunities for providers. In light of these changes, 1m, a data and analytics company dedicated to healthcare risk management, has introduced a national standardized risk assessment tool. The innovative initiative seeks to equip healthcare providers with the crucial data and intelligence necessary to navigate changes in healthcare funding, reimbursement, and eligibility effectively. With over fifteen health systems already participating, this effort underscores a critical urgency within the industry to address emerging risks collaboratively rather than in isolation.
Standardizing Risk Assessment Across Health Systems
The national standardized risk assessment initiative by 1m gathers data by surveying a consortium of participating health systems across the country. This comprehensive data collection aims to generate a national and anonymized healthcare risk dataset, which will then be used to create standardized reports and executive-ready guidance. These tools will provide a deep dive into the potential impacts of recent policy changes proposed by Congress and the current administration. By focusing on various critical areas such as Medicaid and Medicare funding cuts, drug pricing negotiations, modifications related to the Affordable Care Act (ACA), and public health funding cuts, the risk assessment will offer a holistic overview of the challenges ahead.
In addition to broader economic factors, the assessment will examine inflationary pressures due to new tariffs and the effects of tightened immigration policies on healthcare staffing. This wide-ranging approach ensures that healthcare providers have a comprehensive understanding of the many risks they face. Participants in the initiative will have access to detailed, data-driven outputs, including consensus risk assessments, risk quantification methods, benchmarking insights, and common mitigation strategies. Moreover, these organizations will benefit from qualitative expert feedback and executive and board-ready presentations tailored to their unique needs.
Customizing Risk Mitigation Strategies
1m stands ready to customize the results of the risk assessment process for individual organizations. This bespoke approach ensures that healthcare providers receive actionable insights and guidance specific to their operational context. As emphasized by Chris Giuliano, 1m’s co-CEO and CTO, the goal is to move away from a reactive approach to emerging threats, such as the COVID-19 pandemic and cybersecurity breaches. By standardizing risk assessments and enabling shared strategies, healthcare providers can align their responses more effectively and proactively.
The company’s methodology involves conducting its first assessment survey in February, with findings scheduled to be available by early March. This rapid turnaround time ensures that participants gain timely insights needed to adapt their strategies swiftly. The initiative is expected to significantly enhance the preparedness of healthcare providers, allowing them to navigate complex policy landscapes with greater confidence and coherence. As Giuliano pointed out, addressing these risks collectively rather than independently can break the cycle of fragmented, short-term reactions and foster a more resilient healthcare industry.
A Visionary Investment in Healthcare Risk Management
The healthcare industry is navigating a rapidly changing environment with substantial federal policy shifts presenting both challenges and opportunities for providers. Recognizing these evolving dynamics, 1m, a data and analytics company focused on healthcare risk management, has launched a national standardized risk assessment tool. This innovative initiative aims to provide healthcare providers with essential data and insights to effectively manage changes in healthcare funding, reimbursement, and eligibility. Over fifteen health systems have already joined this effort, highlighting the critical need for the industry to address emerging risks collectively rather than in isolation. This approach emphasizes collaboration and shared intelligence, ensuring that providers are better equipped to adapt to policy changes and manage associated risks. The introduction of this standardized tool marks a significant step toward enhancing the overall resilience and responsiveness of the healthcare sector in the face of rapidly shifting federal policies.
