Risk Management
A Vital Component in the Governance of Health Care Institutions
Risk exists in any endeavor. Many people drive every day risking a traffic collision, others live in areas where the risk of spring tornados is extreme, and still other people work around high power electric lines. The question to ask is how can a person moderate the risks that they face each day? Make sure that the vehicle is performing to its optimal capabilities and that driving is undistracted and intentional. Make sure that a safe place exists nearby to go in the event of dangerous weather. Follow all of the safety regulations that go with the job of an electric company lineman. Basically people need to be alert and responsive to the situations that present themselves. Individuals must also understand that they have taken care of all but the most unforeseen eventualities (such as making sure the car one drives is properly maintained).
For a business the risks can be equally pressing. The healthcare industry has taken precautions for many years to protect the rights of the people who patronize health services. Societies license healthcare providers at all levels, hospitals are governed by both governmental and association rules, and patients have the expectation that they will receive the best care available. But is that always the case? Even with the best healthcare system in the world there are still issues that present themselves. The science of risk management is fraught with difficulty because not every risk is readily apparent. Following is a discussion of risk management as it relates to the health care industry.
Role of Risk Management in Healthcare
Defining risk and risk management as they apply to healthcare is the first important step. Risk is "the possibility of a loss or other adverse event that has the potential to interfere with an organization's ability to perform its mandate" (Miller, 2010). This could be a patient safety issue, a failure to make sure that adequate facilities and tools for care are available, or mistakes by personnel. Risk management is "clinical and administrative activities undertaken to identify, evaluate, and reduce the risk of injury to patients, staff, and...
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