Risk Management Process Is Risk - 1436 Words

Risk management is developed in order to reduce the likelihood of possible events that have negative effects for patients, staffs and the organization; to reduce the risk of death and injury or disease for patients, staffs, and others as result of services provided; to improve patient outcomes; to manage resources effectively; and to support legislative compliance and to ensure organizational viability and development. In order to achieve these goals, risk management teams should follow the four steps process of risk management. The first step is risk identifications. Risk identification involves the collection of information about current and past patient are occurrences and other events that represent potential losses to the organization. Such risks can be identified as antitrust, violations, breach of contract, casualty exposure, defamation, embezzlement, environmental damage, fraud and abuse, general liability, hazardous substance exposure, professional malpractice, securities vi olations, transportation liability, and worker’s compensation. The second step in risk management process is risk analysis. Risk analysis entails the evaluation of past experience and current exposure to eliminate or limit substantially the impact of risk on cash flow, community image, and employee and medical staff morale. The third step in risk management process is Risk Control/Treatment. Risk Control/Treatment is the organization’s response to significant areas, as well as its rejoinder toShow MoreRelatedRisks Of A Risk Management Process1208 Words   |  5 PagesEvery day businesses face the challenge of being exposed to potential risks. 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A risk manager can use a variety of information toRead MoreRisk Management Process1617 Words   |  7 Pages4 DESCRIPTION 4 RISK MANAGEMENT FLOW 5 ROLES AND RESPONSIBILITIES 6 RISK TRACKING PROCESS 7 Identify Risks 7 Assess and Prioritize Risks 7 Determine Course of Action 8 Review and Monitor Risks 8 RISK MANAGEMENT LOG ENTRY DEFINITIONS 9 PROCESS ASSISTANCE, QUESTIONS, OR RECOMMENDATIONS 10 APPENDIX A: RISK MANAGEMENT LOG 11 Document Overview Purpose The purpose of this Risk Management Process document is: †¢ To provide a framework to track and monitor project risks throughout the projectRead MoreThe Risk Management Process1424 Words   |  6 PagesTHE METHODS OF RISK ASSESSMENT: Risk management process: This process is known as risk management and involves the four steps set out in this code: †¢ Identify Hazards – find out what could cause harm †¢ Assess Risks – understand the nature of the harm that could be caused by the hazard, how serious the harm could be and the likelihood of it happening †¢ Control Risks – implement the most effective control measure that is reasonably practicable in the circumstances †¢ Review Control Measures – toRead MoreSecurity Risks And Risk Management Process1263 Words   |  6 Pagesand hazards periodically. 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