Thought Leadership Articles
Minimising Risk and Legal Liability for Advisory Boards
Strategies to protect advisory board members and the organisation
Thought Leadership Articles
Published 14 December 2023
Recently we held an executive insights webinar focusing on the developments of advisory structures in the Aged Care Sector.
Whilst this is particularly relevant for Aged Care providers in Australia, with recent regulatory requirements coming into play from the 1st December 2023, the key messages are of global importance, especially for organisations looking to establish advisory structures to support quality care/service provision or those looking to enhance the voice of the consumer.
An expert panel, featuring our Founder, Louise Broekman, and guest Certified Chairs™, Lynn Bailey (also Chair of the Aged Care Advisory Board Best Practice Community), Cynthia Payne & Dmitry Shibanov, provided their observations on the implementation phase so far.
Broadly speaking, there is confusion in how to implement well-established advisory bodies for providers, adding to complexity within their existing governance system.
Approaches that have demonstrated success include:
Other key approaches that were discussed address the alignment with new regulations; the risk of non-compliance (more ‘stick’ than ‘carrot’); demonstrating the connectivity between the advisory bodies and other governance and decision-making structures with providers; the value of using the bodies as a channel to problem-solve, a sounding board for innovation and continuous improvement, risk identification, supporting stakeholder engagement and acting as a feedback loop. The benefits go well beyond a regulated approach.
In summary, the panel suggested that providers would benefit from starting this process sooner rather than later. There will be plenty of opportunity to learn as providers work through an iterative process to build bodies that can ultimately achieve the dual objectives of meeting compliance obligations AND adding value at the same time. The road ahead is aiming for a pathway of better practice.
The panels final remarks were that the next 6 to 12 months will be critical for the sector.
SET UP AN ADVISORY BOARD