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Risk Management: An Essential Cornerstone of Healthcare Industry

Risk Management

Risk Management: An Essential Cornerstone of Healthcare Industry

What is Risk Management

Risk management is essentially a means to forecast and evaluate risks which could be associated with finance, staff and resources and infrastructure involved and together with the identification of procedures to avoid or minimize their impact. Thus an organization essentially needs individuals who can assess and develop strategies to avoid or minimize the risk involved and efficiently handle the situation.

Risk Management in Healthcare Industry

In a healthcare sector apart from financial risk the priority always remains the patient safety and care. Thus the stakes are higher as its a matter of life involved and hence vigilance is the key. Essentially a healthcare industry needs to be both proactive i.e. acting before an event occurs and reactive i.e. mitigating after a situation has occurred. Individuals involved in assessing the risk have multiple roles associated with medical administration involving finance, insurance, safety issues, medical errors, legal factors and psychological welfare of the patients and staff members. Thus individual needs to be proactive, intuitive and essentially ready to react so as to keep the risk as low as possible as well as updated with all policies and changes made in the healthcare sector to prevent any undue legal challenges which can be potentially damaging to the institute. To be negligent can increase liability risks and result in major financial loss. Any healthcare industry must have standard operating procedures for each department and sector which need to be evaluated by risk assessment team in terms of implementation, regular monitoring and essentially updating as per the on sites changes observed. Guidelines are provided by various organizations such as FDA, American Society for Healthcare Risk Management to develop quality controls, guidelines, checklist, interventions to assess any potential issues which can then be modified as per the institute as one size fits all policy is not valid in any healthcare setting as it varies as per patients, the healthcare sector involved, geographical concerns and even technological advancements. Essentially patient safety initiatives should be a priority in a healthcare sector as largely legal concerns associated with the medical industry is negligence which can be omitted by having experienced and qualified staff with complete knowledge and understanding of the risk involved in the healthcare sector they work. Thus verifying their checklist before releasing a patient can ultimately prove beneficial for the patients both in terms of satisfaction and safety and beneficial to the institute in terms of the quality of service offered.

Courses offered:

James Lind Institute trains individuals with a background in healthcare sector in the field of Healthcare risk management so as to boost their chances in an industry which demands prioritization. Thus to advance the career in healthcare management JLI helps you excel in this industry by preparing you for the challenges of this dynamic sector by providing a global perspective as well as enhancing skills and leadership qualities. Courses offered are:

  1. Certificate in Healthcare Risk Management
  2. Professional Diploma in Public Health Management
  3. Master of Science in Healthcare Management
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