risk management in healthcare

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risk management in healthcare

Category: Exploratory Essay

Subcategory: Nursing

Level: College

Pages: 1

Words: 275

Risk Management in Healthcare
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Risk Management in Healthcare
Risk management is the process used by organizations to evaluate and assess the threats it faces in the operation of its finances and assets and how the organization can reduce their impact. In healthcare production risks and threats are prevalent because of the nature of healthcare. Risks may be facing the entire health organization, patients or the staff and it is, therefore, necessary for any organization to have risk managers who are capable of monitoring risks and finding a way to mitigate them or make their impact less felt by the organization (Cagliano et al., 2011).
Planning for risk management is essential for any healthcare producer because it offers assurance for continuity and a way out in times of harmful threats. Risk management professionals must have adequate knowledge concerning healthcare finance and any kind of reforms that are necessary so that they can come up with a well-defined plan for risk management. The risk management officer has three main responsibilities that are loss control, claims management and risk financing (Youngberg, 2010). Loss control involves how the manager handles the organization’s resources to ensure that it does not undergo losses or to minimize the degree of losses that the organization makes. Management of claims generally revolves around the defense of malpractice claims especially in cases where ther…

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