Risk Management Session Plan A-Level Coursework

PAGES
3
WORDS
863
Cite

Health Care -- Risk Management -- Session Plan The simple, general definition of "insurance" undergoes numerous variations according to the natures of insureds and of possible claimants. A healthcare organization, by virtue of its complexity, may be faced with a multitude of factors that must be considered for adequate coverage. A review of various insurances shows that types of claims, types of insured individuals/organizations, and types of claimants interact to determine the types of insurance needed.

The Basic Concept Of Insurance

Generally, insurance is a contract in which one party indemnifies or guarantees another party against loss that might be caused by a specific event or danger (Merriam-Webster, Inc., 2013).

The Key Factors To Be Considered In Choosing An Insurance Company And Policies For A Healthcare Organization

A healthcare organization seeking the optimal insurance company and policies must examine a number of factors to obtain required coverage with reasonable rates and excellent insurer-provided resources. First, since coverages differ among states, the organization must determine the coverages available in its own state(s) (Boone, 2000). Secondly, it must determine whether and to what extent it will provide liability insurance for the individual healthcare providers working in its organization (Boone, 2000). Third, it must determine whether it wishes to employ claims-made coverage and/or occurrence coverage (Boone, 2000). Fourth, it must choose from a menu of policies, depending on its specialties, including...

...

Fifth, it should seek an insurance company that offers effective and compatible risk management plans with readily available agents and resources for hospital administration and individual healthcare providers within the organization (Boone, 2000). Sixth, it should seek an insurance company that offers excellent legal representation, excellent medical experts, continually updated written and verbal information on legal, malpractice and claims trends (Boone, 2000). Seventh, it should seek an insurance company that intelligently prices policies based on local/regional risks, offers premium payment plans and offers credits or premium discounts based on the experience of staff, successful participation in risk management programs and claim-free or low-claim periods (Boone, 2000).
c. Workers' Compensation Insurance vs. Liability Insurance

Workers' Compensation Insurance is a separately-administered state-by-state system that replaces wages, makes payments for past and future disability, pays rehabilitation costs and provides medical benefits for employees who are injured in the course of employment and makes payments to the dependents of employees who are killed outright or due to injuries incurred in the course of…

Sources Used in Documents:

Works Cited

Boone, E. (2000, February). Challenges and solutions in medical professional liability. Retrieved on February 21, 2013 from search.proquest.com Web site: http://search.proquest.com/pqcentral/docview/200324292/13C55BEFBD15235F1C3/1?accountid=14375

Investopedia U.S.. (2013). Liability insurance definition. Retrieved on February 21, 2013 from www.investopedia.com Web site: http://www.investopedia.com/terms/l/liability_insurance.asp#axzz2LcID4cdz

Larson, A. (2005, March). Workers' Compensation as the "exclusive remedy." Retrieved on February 21, 2013 from www.attorneys-usa.com Web site: http://www.attorneys-usa.com/workers_comp/exclusive_remedy.html

Merriam-Webster, Inc. (2013). Insurance. Retrieved on February 21, 2013 from www.merriam-webster.com Web site: http://www.merriam-webster.com/dictionary/insurance


Cite this Document:

"Risk Management Session Plan" (2013, February 22) Retrieved April 19, 2024, from
https://www.paperdue.com/essay/risk-management-session-plan-103892

"Risk Management Session Plan" 22 February 2013. Web.19 April. 2024. <
https://www.paperdue.com/essay/risk-management-session-plan-103892>

"Risk Management Session Plan", 22 February 2013, Accessed.19 April. 2024,
https://www.paperdue.com/essay/risk-management-session-plan-103892

Related Documents

Risk Management Applications in Hospitals The concept, usage and learning of risk management phenomenon are important for all institutions in healthcare industry. The most important purpose of risk management in healthcare industry is learning from errors, it is these human errors that pave the way for us to learn prepare and not repeat these errors again. These errors can lead to a medical incident and the learning from them occurs when these

Based on your research, identify the risks for a hospital that receives Medicare funding and fails to accept a patient who enters through its emergency department needing emergency care. Pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) (Public Law No. 99-272) section entitled Emergency Medical Treatment and Active Labor Act (EMTALA), hospitals receiving Medicare (and other federal funds) that fail to accept a patient in its emergency department

Risk management is aimed at determining possible problems beforehand in order to plan and invoke risk-handling activities, as required, across the project's or product's life, for mitigating negative effects on attaining objectives. The process of risk management constitutes a key part of technical and business management systems; it is constant and forward-thinking. Risk management must deal with problems that threaten the attainment of key aims. A constant risk management strategy

Boldly Go Case Study AnalysisIntroductionProvidence Healthcare is exposed to a number of risks that could negatively affect its ability to deliver quality consistent care to its patients. These risks range from financial instability to the need for improved patient flow and resistance to change. Addressing these risks requires a comprehensive risk management approach. This paper discusses these risks, how a risk management approach should be developed to address them, and

Sidpers Program Risk Management Plan Project description and Objectives Project Scope Project sizing Stakeholder analysis Project Manager (PM) Risk Manager Risk Analyst The identified Sources of Risk in the SIDPERS Project Risk Register Summary Risk Report Risk Breakdown Structure Double P-I matrix Hillson, D and Simon, P (2007).Practical Project Risk Management: The Atom Methodology. Management Concepts. This document contains details of the Risk Management Plan for the SIDPERS Project and defines the risk management process to be used in the risk management process that

Suicide Risk Management at Veterans Affairs Suicide Risk Management Issue U.S. Department Veterans Affairs Hospital Suicide prevention is a major national management issue in Veterans Affairs centers with a system wide suicide prevention program in place. These suicide-risk management programs include suicide crisis line, suicide monitoring and risk assessment, full-time suicide-prevention coordination efforts and medical record flags that notify on suicide risks (Desai, Rosenheck, & Desai, 2008). Suicide risk management is an important