Effective Risk Management in Healthcare

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

The complexity of the care system continues to dramatically increase, coupled with unprecedented health issues. Consequently, clinicians and patients must consider more information than previously warranted. In most cases, decision-making involves various options with either benefits or risks. Further, individuals receiving care may be less informed, which may affect their health outcomes. McMahan et al. (2020) implied that safe, efficient, appropriate, timely, and patient-oriented care largely depends on the delivery system. Achieving positive patient outcomes requires identifying the specific areas where system complexities inhibit progress and the development of solutions that can overcome potential impediments.

Improvement in health resources and the diversity of inherent risks have rendered risk management a notion of central importance. Fundamentally, risk management entails identifying and assessing potential threats, then determining the best possible solution, applying these activities, and re-evaluating results for effectiveness. A study conducted by Johns Hopkins revealed that at least 250,000 patients die annually in the United States as a result of medical mistakes (Sipherd, 2018). Most recently, Providence Health and Services Washington paid 22.7 million dollars to resolve legal allegations of fraudulent bills for federal healthcare programs for unnecessary surgery (U.S. Attorney’s Office, 2022). Every health organization should charge its providers with risk management to help reduce the severity of unexpected issues, promote high performance, and reduce claims that might lead to unnecessary liability.

In summary, the challenges facing the current healthcare model demand a renewed awareness of risk management. In addition to addressing financial problems, effective risk management assumes a fundamental role in response to the number of claims against hospitals, bad publicity, and high damages. The crisis of malpractice cases against clinicians has forced hospitals to make arrangements for self-insurance. However, the incorporation of risk management practices can help analyze trends, suggest interventions, and effectively mitigate claims. Ultimately, risk management helps ensure worker and patient safety for positive health outcomes.