The full survey report, Executive Perspectives on Top Risks for 2020, may be accessed at erm.ncsu.edu or protiviti.com/toprisks. It includes detailed breakdowns of the results by respondent role, organization size, industry, geography and other categories.

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Healthcare Executive Perspectiveson Top Risks for 2020

* Scores are based on a 10-point scale, with “10” representing that the risk issue will have an extensive impact on the organization.** Overall rank among the Total Sample across all industries surveyed.

Board members and C-suite executives in the healthcare industry worldwide continue to perceive significant concerns in the business environment in 2020, according to an annual survey from NC State University’s ERM Initiative and Protiviti.

Healthcare executives expect 4 of the top 10 risks — including regulatory change and scrutiny, succession challenges and the ability to attract and retain top talent, resistance to change operations, and the organization's culture insufficiently encouraging timely identification and escalation of risk issues — to be riskier in 2020 compared to 2019.

While 8 of the top 10 risks were also among the top 10 risks in 2019, two additional operational risk issues rose to the top 10 list this year: the organization’s culture may not sufficiently encourage timely identification and escalation of risk issues, and third-party risks may prevent meeting organizational targets or impact brand image.

Operational concerns dominate the top 10 risk issues, including succession challenges and the ability to attract and retain top talent, privacy/identity management and information security, resistance to change operations, and competing against "born digital" organizations. Although 8 of the top 10 risk issues are operational in nature, the top risk — regulatory change and scrutiny — is a strategic concern.

R I S K I S S U E SCORE*

1. Regulatory changes and regulatory scrutiny 7.12 (1)

2. Succession challenges and ability to attract and retain top talent 6.82 (3)

3. Privacy/identity management and information security 6.68 (7)

4. Resistance to change operations 6.60 (5)

5. Existing operations meeting performance expectations, 6.46 (4) competing against “born digital” firms

6. Cyber threats 6.44 (6)

7. Organization’s culture may not sufficiently encourage timely 6.44 (8) identification and escalation of risk issues

8. Sustaining customer loyalty and retention 6.22 (9)

9. Inability to utilize analytics and big data 6.00 (11)

10. Third-party risks may prevent meeting organizational 5.91 (14) targets or impact brand image

T O P 1 0 R I S K S F O R 2 0 2 0(OVERALLRANK)**