Sentinel Event Reporting



Sentinel Event Reporting

Module 3

Risk Management Issues

Risk management is a kind of management for controlling or minimizing the involvement of risk. Risk management is the process to identify, assess and prioritized the risks, that how uncertainty affects on your objectives and goals and how a firm can monitor, minimize and control these probabilities of events (Rotarius & Liberman, 2000). There are a number of risks that involve in a business, and every market or business has risk in order to tackle with them an effective manager is required. Following are some of the issues of risk management:

Operational Risk

Systemic Risk

Capital Charges

Corporate Governance

Economic Risk



Risk Management Policies and Procedures

The following policies and procedures should be considered to deal effectively with the risks:

Employees' screening

Training of the employees

Contingency plans

Review of the contracts

Ethics and Privacy

Employee Dismissal and discipline

Financial management

Emergency plan

Reporting of incidents and accidents

Building inspection and maintenance

Case

Risk Management in the Context of Health Care Delivery

The risk management in the context of health care can be defined as understanding how the risks can have a strong impact on the patients and protecting them from those risks. Health care risk management is not merely about protecting the finances and operations of the organization but the protection of the patients. The main responsibility of the risk management is to ensure the continuity of the patient care (Krouwer, 2006). This means that hospitals and doctors' offices have to consider how risks can be managed in a way that does not disrupt a patient's treatment.

Elements of a Risk Management Program

Following are the major elements of a risk management plan:

Staff Supervision

This includes the hiring and training of the staff. The management has to effectively evaluate the staff before the recruitment i.e. doing a background check, age requirements, certification, training, experience etc.

Insurance Issues

These include leases, facility insurance, equipment insurance, ...