Risk Management in Healthcare

Risk Management in Healthcare

In the context of healthcare, risk management refers to the structures, processes, and culture directed towards more effective management of probable adverse events and opportunities (Johnson & Sollecito, 2020). Through risk management, healthcare organizations are able to systematically and proactively protect the safety of a patient and, at the same time, protect the market share, assets, reimbursement levels, community standing, and brand value of the organization. The goal of risk management is commonly to enhance patient safety and lessen medical errors that might result in financial liabilities and poor image. With improved technology, risk management is also conducted to ensure data security.

The high rate of health care risks like near misses, adverse events, as well as errors among other clinical incidents, have impacted the quality of health care offered to patients. Clinical risks can result in prolonged hospital stays, morbidity, disability, and death (Farokhzadian et al., 2018). With a risk management model or system in the organization, it is possible to cultivate a culture that focuses on enhancing the safety of patients. According to Johnson and Sollecito (2020), a safety culture can be acquired in the health care organization, and such a culture only acknowledges the unavoidability of errors and seeks to proactively identify latent threats and find a way to deter or lessen the impact of errors. Such errors can be well mitigated to enhance health care quality through risk management. Previously, healthcare quality and risk professionals had separate roles and reported to different people. However, today, these professionals strive to enhance patient safety and find ways to work together more efficiently and effectively to help the organization deliver high-quality and safe patient care while lessening risks (McGowan et al., 2021).

References

Farokhzadian, J., Nayeri, N. D., & Borhani, F. (2018). Assessment of clinical risk management system in hospitals: an approach for quality improvement. Global journal of health science, 7(5), 294-303.

Johnson, J. K., & Sollecito, W. A. (2020). Mclaughlin and Kaluzny’s continuous quality improvement in health care. Jones & Bartlett Learning.

McGowan, J., Wojahn, A., & Nicolini, J. R. (2021). Risk management event evaluation and responsibilities. In StatPearls [Internet]. StatPearls Publishing.

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If you had a friend who didn’t work in the healthcare industry, how would you explain the concept of risk management to them and how it relates to quality management in the healthcare industry?