Verified Document

Managing Risks In Healthcare Essay

Healthcare Management Risk management in healthcare organizations includes activities that integrating the recognition of risks, assessments of risks, coming up with strategies to be used and mitigation of these risks that have been identified. The focus on this paper is how to proactively prevent risks in healthcare organizations. The area of focus in financial risk management is risks that are managed using trade financial instruments such financial management systems, appropriate EMR, coding, billing, collections, general accounting, budgeting, expense management, managed care contract strategy and vendor relations processes. Risks are unavoidable and are present in every human situation .T he most common concept that appears in all definitions of risks is the uncertainty of the outcomes involved in the risks. Due to the uncertainty of the nature of risks the healthcare systems should have proactive measures in place to ensure that these risks are prevented and do not take place at any cost (University of California, 2008).

Risk management involves various steps and tools these include; establishment of the goals and context i.e. The risk environment. Within the organization leaders should make sure that they establish the risk environment and come up with goals which they intend to achieve. Secondly there is need for the identification of the risk this means that the impending risk has to be identified first before any action is taken. Third an analysis of the risk that is identified has to be done this analysis will help in establishing everything involves in the risk so that it can be dealt with appropriately. Fourth there should be assessment...

Fifth step is treating or management of the risks which involves dealing with the risk that has been identified; the next step is monitoring and reviewing the risk and the risk environment on a regular basis. This will help in finding out if there is another impending risk. Finally he last step is continuously communicating, consulting with the involved stakeholders and giving reports .this helps for future reference incase a similar risk occur (Berg, 2010).
The current operating environments require an integrated risk management approach .in such a setting it is not appropriate and sufficient to manage risks at the level of individual activity. HealthCare organizations will definitely benefit from a comprehensive approach when it comes to dealing with risks. risks in financial systems are just but one f the many risks that an organization can face .risks that present themselves in different fronts as well as high level, high-impact risks always require a coordinated and systematic corporate response. Integrated risk management is therefor defined as a proactive, continuous and systematic process that involves understanding, management and communication of risks from the wide perspective of an organization.it involves making strategic decisions which contribute to achievement of the overall corporate objectives of the organization. integrated risk management therefore requires that ongoing assessment of potential risks in an organization are carried out for the organization and then integrate these results at corporate level in order…

Sources used in this document:
References

University of California (2008). Ways to Reduce Risk. Retrieved March 24, 2014 from http://map.ais.ucla.edu/go/1000570

ECRI Institute ( 2010). Sample Risk Management Plan for a Community Health Center Patient Safety and Risk Management Program. Retrieved March 24, 2014 from http://bphc.hrsa.gov/ftca/riskmanagement/riskmgmtplan.pdf

Berg H., (2010). Risk Management: Procedures, Methods and Experiences. Retrieved March 24, 2014 from http://gnedenko-forum.org/Journal/2010/022010/RTA_2_2010-09.pdf

The World Bank Group, (2014).Better Risk Management Can Unlock Opportunities, Prevent Crises, and Protect Poor amidst Disasters and Shocks, Says World Bank . Retrieved March 24, 2014 from http://www.worldbank.org/en/news/press-release/2013/10/06/better-risk-management-unlock-opportunities-prevent-crises-protect-poor-amidst-disasters-shocks
Cite this Document:
Copy Bibliography Citation

Related Documents

Strategic Management of Healthcare Strategic
Words: 600 Length: 2 Document Type: Case Study

These environmental factors of patients' rights with regard to reporting their medical histories, allowing them to review them, and also ensuring they are archived to HIPAA standards are all risks for the clinic as well (Huang, Liu, 2011). The governmental factors that pose the most risk to the clinic are the regulations on how quality management programs are put into place and reported over time (Edmund, 2010) and the requirement

Financial Management in Health Care
Words: 2199 Length: 7 Document Type: Essay

Financial Management in Healthcare Medicare and Medicaid are programs run by the government and which provide medical services as well as services that are health care related to particular groups of individuals in the United States. It is imperative to note that these two programs are exceedingly dissimilar but are supervised and overseen by the Centers for Medicare and Medicaid Services which is a department that is found within the Department

Healthcare Legal Issues: Care and Treatment of
Words: 4675 Length: 16 Document Type: Research Paper

Healthcare Legal Issues: Care and Treatment of Minors The evolution of the hospital is a unique social phenomenon reflecting societal attitudes toward illness and the welfare of the individual and the group. Hospitals existed in antiquity, in Egypt and in India. After Christianity became the state religion of the Roman Empire, hospitals were built in Christian nations. Subsequently, after Islam arose, hospitals were built in Moslem countries as well. Regardless of

Health Care Quality Management As It Applies to Managed Care
Words: 3838 Length: 10 Document Type: Term Paper

Health Care Quality Management as it Applies to Managed Care In the current age of improved answerability for quality of care, every healthcare expert should be conversant in the theory and paraphernalia of quality management) Quality Management-QM is an all-embracing attitude that pervades the management infrastructure, rules and customs of an establishment. It characteristically comprises of five fundamental doctrines -- undivided attention on the customer/supplier relationships; a stress on functional and

Health Care System Evolution, Organizational
Words: 3702 Length: 14 Document Type: Essay

(Worcestershire Diabetes: a New model of care Stakeholder event, 2007) The continuum of care for the diabetic patient is shown in the following illustration labeled Figure 1. Diabetes: Continuum of Care Source: Worcestershire Diabetes: a New model of care Stakeholder event (2007) The continuum of care for diabetes begins at the moment that the individual is found to have diabetes and continues across the individual's health care providers and across the varying stages

Health Care Issue Operations Management
Words: 1621 Length: 5 Document Type: Term Paper

Health Care Issue and Operation Management Health care is the prevention, treatment and management of illness and the preservation of mental and physical well-being through services offered by the medical and allied health professions (Dictionary.com 2005). Health care covers disease management, emergency preparedness, emergency department overcrowding, pain management, and patient safety (Jayco 2005). These health care activities encompass immunizations, diagnostic tests, medical treatments, and laboratory examinations in protecting and restoring health

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now