Risk Management Policy and Procedure

Part One: Risk Management Policy and Procedure (3–4 pages)
As the new risk manager in your health care organization, your director has assigned you responsibility for drafting the organization’s risk management policy and procedure. This assignment stemmed from your director’s perception that employees lacked knowledge and awareness of risk management’s contribution to furthering the organization’s safety and quality improvement efforts. Likewise, your director also saw evidence that departments within the organization were inconsistently applying risk management principles to their daily work practices.

The guidance you have received from your director about writing this policy and procedure is that it needs to include all of the following headings. It also needs to answer all of the questions underneath each heading:

Purpose Statement:
How can a risk management program help this organization advance its strategic safety and quality goals?
Key Risk Management Terms:
What is the definition for each of these risk management terms?
Risk prevention.
Risk reduction.
Regulatory compliance.
Patient safety.
Adverse event.
Near miss.
Risk Categories and Risk Identification Techniques:
What are the major risk categories in health care? In your answer, be sure to explain each risk category and to provide relevant examples from the literature to illustrate your points.
What risk management strategies will the organization use to identify potential organizational risks? Be sure your narrative identifies and describes such risk identification techniques as concurrent, retrospective, incident reporting, and previous trends. ‹Note: These are only a few of the risk identification techniques to address in your policy and procedure. Be sure to include other examples you are aware of from your professional experience or from reviewing your suggested resources.
What are examples of risk categories and their appropriate corresponding risk identification techniques? For example, coding errors are a type of financial risk. Retrospective auditing is the risk identification technique used to identify this risk type.
Risk Manager’s Role in Program Implementation and Compliance:
What is the risk manager’s role in risk management program implementation and compliance?
How can a risk manager impact effective management of the organization’s risk management program?
What is one example from the literature that shows how the risk manager role can positively impact a health care organization’s management of its risk management program?
Part Two: Application of Risk Management Principles to a Specific Incident (3–4 pages)
To further help employees and the organization at large see risk management’s contribution to helping the organization achieve its safety and quality goals, your director has asked you to analyze and apply risk management principles to a recent incident that occurred in the organization. Your director has asked you to include all of the following headings in your analysis and to address all of the questions underneath each heading.

Risk Description:
Which potential risk to your organization from the Vila Health: Patient Safety simulation are you analyzing? These included patient identification error, medication error, and a HIPAA/privacy violation.
Risk Implications:
What are the risks to patients, employees, and to the organization if this particular risk is not addressed? In other words, what could happen if the organization chooses to do nothing?
Risk Identification:
What risk management strategies and techniques will the organization employ to identify this type of risk in the future? For example, will the organization identify this type of risk by analyzing incident report data? What other strategies might the organization employ to identify the risk? Be sure to include your rationale for choosing the particular strategy(ies).
Risk Reduction/Elimination:
What risk management best practices could the organization employ to eliminate or reduce the risk in the future? For example, if you plan to identify the risk by analyzing incident report data, would you conduct a drill down to determine what is causing the risk? What other best practices might you employ? Consult your suggested resources for guidance on best practices for eliminating and reducing risk.
What steps would you take to implement your plan to eliminate or reduce your selected risk?

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