AbstractThe healthcare industry is dynamic and the industry changes require new tools to manage the risks generated by new core competencies. Silo‐centric practice is giving way to integration in the healthcare organization and in the discipline of risk management. Whether insurable or not, risk threatens the bottom line and business success. Enterprise Risk Management provides the tools for imbedding the discussion of Risk into the way an organization does business. Two tools described here are a Showstopper Risks List and a Risk and Response Map. The risk manager who adds value to the organization by aligning risk management strategies in support of business success will not only survive, but thrive in a constantly changing environment.