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Risk Management Essay

1257 words - 6 pages

Running Head: RISK MANAGEMENT

Risk Management
Jennifer Sprague
HCS 451- Health Care Quality Management and Outcomes Analysis
May 16, 2011
Isamel Caicedo

When looking at organizations and the risks that they have to manage on a daily basis, we see where policies, procedures, and outcomes come into play. Though risks are different and challenge organizations in different ways, there are steps that every organization should take to identify and manage their risks. These risks that organizations take affect not only the organization but the stakeholders as well. There are types of education, training, and/or policies that help the hospital to mitigate risks within ...view middle of the document...

While all organizations have mission statements, hospital mission statements involve providing care in an excellent manner while having professionalism, education, and training behind the policies and procedures in place.
Though there are many steps in the risk management process, there are key steps to identify and manage these risks. “Risk identification sets out to identify an organization’s exposure to uncertainty,” (Airmic, 2002). These steps include “identify and analyze loss exposures, consider alternate risk techniques, select what appears to be the best risk management technique or combination of techniques, implement the selected techniques, and monitor and improve the risk management program,” (Carroll, 2009). The key step to identifying the risks is step 1: Identify and Analyze loss exposures. In this step the risk management professional becomes aware of the risks in the environment that constitute potential loss exposures for the institution. When looking to be aware of these risks, organizations use different risk identification systems. These systems include “incident reporting, generic occurrence screening, patient complaints and satisfaction survey results, prior medical professional liability, property and casualty, and workers’ compensation claims data, surveys by the Joint Commission, the national committee on quality assurance, liability or other insurers and risk management consultants, state licensure surveys, contracts, leases and other agreements, information generated through the facility’s infection control and performance improvement functions and informal discussions with managers and staff” (Carroll, 2009). Once the organization identifies the risks involved and then they need to manage these risks by selecting the best risk management techniques. To manage these risks with the best technique the organization needs to forecast the effects of the risk management options and how it will affect the organization to fulfill its goals. Then it needs to define and apply criteria to measure how each risk management technique contributes to the organization’s objectives in a cost effective way.
When looking at risks that each organization could potentially have, one has to look at the organization itself. In a hospital setting the risk management team must keep in mind their mission statement of the hospital as a whole. Most hospital mission statements indicate their mission is to provide quality health services and facilities for the community to promote wellness with the best services possible. Within these mission statements we see possible risks all over the place where policies and procedures have been put into place to diminish these risks. A typical risk in the hospital setting is patient safety, where providers (doctors and nurses) need to be aware of what is going on in each of their patient’s rooms, the patient’s current health condition, how many visitors each patient can and does have and the potential...

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