Insight

Healthcare payors’ holistic approach to governance

Healthcare payors should take a holistic approach to data governance to maximize valuable insights while minimizing risks.

Anurag Rai

Anurag Rai

Advisory Managing Director, Cyber Security Services, KPMG LLP

+1 630-346-5092

Thomas Haslam

Thomas Haslam

Managing Director, Data & Analytics, KPMG US

+1 201-571-3097

As healthcare payors face increasing costs and expanding consumer expectations, the products and services they offer – and the way they go to market – will be increasingly influenced by data.  At the same time, there will be more risks – from cyber security threats to patient privacy breaches.

What does this mean for data governance?

Historically data protection has been covered disparately by compliance groups, information security teams, and data governance groups, leading to patchy policy coverage and missed growth opportunities. Instead, organizations should take a holistic approach that encompasses leadership and capabilities from risk, cyber, privacy, and emerging data management functions.

This paper gives a more detailed look at how holistic data governance can help payors avoid the risks of negative customer experiences, lack of visibility into churn patterns, internal inefficiencies, and security and privacy breaches. The paper takes payors step-by-step through the team approach to data governance, including first steps to take, as well as the distinct roles and responsibilities of the four main players and their teams – the Chief Risk Officer, the Chief Information Security Officer, the Chief Privacy Officer, and the relatively new C-level position of Chief Data Officer (CDO).

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