Apollo Hospitals Enterprises Limited Risk Management Policy

Apollo Hospitals Enterprises Limited Risk Management Policy

Apollo Hospitals Enterprises Limited’s (AHEL) risk management policy is designed to prepare all divisions of the facility for potential risks that exist in the workplace. The procedure applies to all the business units of the entire company. Its main objectives include incorporating proactive risk management in daily business activities at the facility, ensuring that performance improves due to better decision-making, providing an appropriate avenue for risk escalation at the right time, and creating a risk-sensitive culture accompanying the organization’s pursuit of business opportunities. AHEL’s risk management steering committee is responsible for the company’s risk policy and its implementation (Apollo Hospitals, n.d).

Apollo Hospitals Enterprises Limited is a pioneer in delivering corporate healthcare in India. It is renowned as a leading player in the Asian private healthcare sector. The company manages several healthcare facilities and pharmacies across the continent. It also provides consultation services for the management of specialty facilities. The company started as a 150-bed facility in Chennai. The remarkable growth is evident in its 10,000 beds in at least 60 facilities, at least 1,500 pharmacies, more than 100 clinics offering primary care as well as diagnostics, more than 100 telemedicine units in 9 nations, health insurance services, consultancy, and 15 institutions for research and academic work (NDTV Convergence Limited, 2021). While managing such a wide network of facilities, it is important to anticipate risks in all business activities. Thus, a risk management policy is critical for smooth operations and better decision-making.

Risk management in healthcare is critical in ensuring that patient safety is maintained through the reduction of errors that would place at risk the hospital’s reputation and heighten financial liabilities. When dealing with a large network of healthcare facilities such as AHEL, it is important to prioritize patient safety and reduce liabilities that arise from risks that can increase financial liability (What Is Risk Management in Healthcare? 2018). The company’s widespread services and products make it an ideal player for this particular study.

Administrative steps and processes in a risk management program

The World Health Organization (WHO) outlines the main steps to manage risk. These include risk identification, assessment of frequency and severity, reduction/elimination of risk, and assessment of costs that the process saves. The fees the facility would incur if the risk eventuates can also be tabulated. The four aspects are founded on incident reporting. Following the appropriate incident reporting process achieves the four basics of risk management. Incident reporting must fulfill certain steps to be effective. These include a full description of the event, simple and practical, details that identify the time and location of the event and the concerned parties, physician’s examination information, and a question checklist (Singh, 2012). AHEL’s risk management policy adheres to these elements and provides a detailed description of each to ensure that all stakeholders have sufficient information. The risk management process in the procedure follows the World Health Organization’s proposed order.

Further, AHEL provides a list of risk categories, which should help healthcare providers during incident reporting. Each class is identified by a unique number and is accompanied by a comprehensive definition. Additional attachments include a risk register, assessment template, aggregate scorecard, and risk profile (Apollo Hospitals, n.d).

Key agencies and organizations that regulate the administration of safe healthcare

The National Association Board for Hospitals and Health Service Providers (NABH) is an Indian accreditation body. The agency’s role is to ensure that healthcare facilities maintain quality standards. Besides ensuring that quality standards are observed, the body also conducts training and offers recognition through endorsing healthcare courses and workshops (NABH, 2021). The Joint Commission International (JCI) is the Joint Commission on Accreditation for Healthcare Organizations’s (JCAHO) international arm. Its role is to accredit hospitals and issue certification to confirm the achievement of the ‘gold standard.’ These accreditations have been granted to at least 30 Asian healthcare facilities (Tandulwadikar & Chigullapalli, 2021). Both agencies play an oversight role in risk management by setting patient safety standards that facilities should meet. Assessing the achievement of these standards through healthcare practices and equipment available at facilities enables the accreditation process (Milam et al., 2011). These steps also ensure that facilities continuously manage risk proactively to maintain set standards.

The Joint Commission’s Risk management standards

The Joint Commission (TJC) provides elaborate risk management standards that health facilities should observe. First, there should be a risk manager who coordinates the entire process with the assistance of other leaders. Secondly, the entity should have an elaborate document that details its plan to ensure that each stakeholder is safe. The program should address issues and hazards such as fire and utility systems. Thirdly, the identification of risks within the healthcare environment is important. Fourthly, actions that minimize or eliminate the identified risk should be highlighted. Fifth, the facility should maintain its equipment and grounds as well as control access to sensitive areas. Most importantly, the healthcare organization should ensure the environment is safe for care providers and patients. Aspects that address this safety concern include sufficient space in common areas, proper lighting, hygiene, appropriate furnishings, as well as the availability of dining and recreational spaces (SafetyCulture, 2021).

Recommendations

To improve AHEL’s risk management plan and ensure its compliance with TJC’s standards, it is important to include various aspects. The company should consist of a category that addresses potential a risk in dining areas. Areas, where clients or employees take their meals, should encourage the activity, be free from loud noise, be arranged to host small groups, and be aligned with the program’s goals. The other additional category would address hazards associated with demolition, new constructions, or renovation. New buildings should have a design criterion that meets federal or state regulations. A preconstruction risk assessment should be carried out to evaluate the potential impact on air quality, establish infection control, and manage noise and vibrations, as well as other aspects that affect the care delivery environment. This assessment is important even for general maintenance (SafetyCulture, 2021). The inclusion of such elements in the risk categories enhances the safety of patients and employees significantly.

References

Apollo Hospitals. (n.d). Risk Management Policy. Retrieved from https://www.apollohospitals.com/apollo_pdf/ahel-risk-management-policy.pdf

Milam, W. (2011). Accreditation as a Tool for Quality Enhancement. South Asia Journal.

NABH. (2021). Introduction. Retrieved from National Accreditation Board for Hospitals & Healthcare Providers: https://nabh.co/introduction.aspx

NDTV Convergence Limited. (2021). Apollo Hospitals Enterprise Ltd. Retrieved from https://www.ndtv.com/business/stock/apollo-hospitals-enterprise-ltd_apollohosp/reports

SafetyCulture. (2021). TJC – EOC Standards – Safety & Security Checklist. Retrieved from https://public-library.safetyculture.io/products/tjc-eoc-standards-safety-and-security

Singh, B. (2012). Risk Management in Hospitals. International Journal of Innovation Management and Technology, 3(4), 417-421. doi:10.7763/IJIMT.2012.V3.266

Tandulwadikar, A., & Chigullapalli, R. (2021). World-class via Accreditations. Asian Hospital & Healthcare Management.

What Is Risk Management in Healthcare? (2018). NEJM Catalyst Innovations in Care Delivery, 7(2).

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The purpose of this assignment is to analyze a healthcare risk management program.

Research approaches to risk management processes, policies, and concerns in your current or anticipated professional arena to find an example of a risk management plan. Look for a plan with sufficient content to complete this assignment successfully. In a 1,000‐1,250-word paper, provide an analysis of the risk management plan that includes the following:

Summary of the type of risk management plan you selected (new employee, specific audience, community‐focused, etc.) and your rationale for choosing that example. Describe the healthcare organization to which the plan applies and the role risk management plays in that setting.

Description of the standard administrative steps and processes in a typical healthcare organization’s risk management program compared to the administrative steps and processes you identify in your selected example plan. (Note: For standard risk management policies and procedures, look up the MIPPA-approved accrediting body that regulates the risk management standards in your chosen healthcare sector, and consider federal, state, and local statutes.)

Analysis of the key agencies and organizations that regulate the administration of safe health care in your area of concentration and an evaluation of the roles each one plays in the risk management oversight process.

Evaluate your selected risk management plan’s compliance with the standards of its corresponding MIPPA-approved accrediting body relevant to privacy, health care worker safety, and patient safety.
Proposed recommendations or changes you would implement in your risk management program example to enhance, improve, or secure the compliance above standards.

In addition to your textbook, you are required to support your analysis with a minimum of three peer‐reviewed references.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

This assignment uses a rubric. Please review the title before beginning the work to become familiar with the expectations for successful completion.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

Benchmark Information

This benchmark assignment assesses the following programmatic competency:

BS Health Sciences

3.2 Discuss compliance with risk management protocol.