Risk management. Health, Medicine, Nursing. Research Paper

Risk Management in Healthcare
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Risk Management in Healthcare
Risk management in medical centers involves clinical and leadership approaches and reports that are essential in monitoring, evaluating, preventing, and mitigating danger (Bunting Jr & Groszkruger, 2016). Risk control allows organizations to ensure their patients are safe. Also, risk management enables healthcare facilities to ensure the safety of equipment, reduce lawsuits, and maintain their brand image, which contributes to customer satisfaction. According to Bunting Jr. and Groszkruger( 2016), healthcare risk management focuses on the protection of patients while limiting medical errors and cushion itself against financial liabilities. The complexity of healthcare risk management has increased over time due to advancements in technology, changing industry regulations, and legal and political requirements. Besides, the pay for professional performance shifts from the patients to the organization, creating the need for a risk management strategy.
As illustrated by Cooke (2016), healthcare institutions share a large class of risks such as medical, regulatory, environmental, and safety. Resultantly, organizations employ the Enterprise Risk Management approach to promote the responsibility of the members to limit risks. Such is essential in pro-actively identifying and controlling risks. Most organizations use the Risk Management Information System (RMIS) to collect data, process information, and generate statistical reports that are essential in the identification and monitoring of healthcare challenges (Cooke, 2016). Assessment of risk management involves the establishment of the context in which the risk lies. Some areas highly prone to uncertainties include the intensive care unit, operating room, emergency room, blood transfusion centers, and cardiac care units.
Management involves transparent scrutiny of the administration of medication, which is essential in inpatient care (Powers et al., 2018). The establishment of context allows the organizations to train their staff on mitigation procedures. Identifying risks consists of creating awareness of the existence of possible threats within the organization. The risk register is essential in keeping records of all the dangers. Some sources of risk identification include a discussion with department heads within the institution, patients' follow-up, screening of patients records, and review of hospital safety and management committee reports (Powers et al., 2018). After risk identification, risk analysis follows. Threat analysis involves developing a clear understanding of the possible risks, including calculating the risk score, identifying underlying causes, and looking at the available control approaches.
The risk assessment also involves the evaluation of threats to determine priorities based on the risk analysis score (Wang, 2017). An assessment enables an institution to identify the threats that require immediate solutions and how to solve them. Evaluation involves accepting the risk to determine if the low and the specific solution could e inappropriate using the available resources. Also, the evaluation approach looks at the severity of the thre...