Risk Management Policy and Procedure
Write 6-8 pages analyzing a specific issue that occurred in a health care organization. Apply risk management best practices to it for the purpose of early risk identification and risk reduction or elimination in the future.
Introduction
Health care organizations have always searched for ways to identify and reduce risks. An organization’s ability to identify and analyze its risk exposure is a determining factor in the effectiveness of its risk management program (Hoarle, 2015). Early identification and analysis are essential.
Current health care risk management practices developed in the mid-1970s as a result of a surge in malpractice suits. These suits caused rapid increases in claims costs for the industry, which later resulted in increased insurance premiums. Today, health care delivery systems and organizations realize the value of risk management and have developed formalized programs (Hoarle, 2015). In addition, organizations have established mechanisms to review potential incidents of risk and safety concerns (Pelletier & Beaudin, 2018). While risk management programs are responsible for daily management and risk operations, all health care stakeholders are responsible for participating in activities that will reduce unnecessary risks and improve safety and quality (Hoarle, 2015).
References
Hoarle, K. (2015). Risk management poised to grow as healthcare evolves. Biomedical Instrumentation & Technology, 49(6), 433–435.
Pelletier, L. R., & Beaudin, C. L. (2018). HQ solutions: Resource for the healthcare quality professional (4th ed.). Wolters Kluwer.
Preparation
To successfully complete this assessment, use the Risk Management Policy & Procedure Template [DOC] to address the following:
· For part 2 of this assessment, you will conduct an in-depth analysis of the organizational risk you selected from the Vila Health: Patient Safety simulation.
· Review the Risk Management Policy & Procedure Template [DOC], which you will use to complete your assessment. This document is formatted and has space for completing all components of the assessment.
Risk Management Policy & Procedure & Analysis
Your Name
BHA4004
Date:
PART 1
Risk Management Policy and Procedure
Title: Risk Management Plan
P&P #: Assignment 2
Approval Date:
Review: Annual
Effective Date:
Risk Management Policy and Procedure
Purpose Statement
[Write a Purpose Statement here. How can a risk management program help this organization advance its strategic safety and quality goals?]
Key Risk Management Terms
[Provides comprehensive definitions of key risk management terms (see Scoring Guide for levels of discussion.]
Risk prevention :
Risk reduction :
Regulatory compliance :
Patient safety :
Adverse event :
Near miss :
Major Risk Categories and Risk Identification Techniques:
[Describe the major risk categories in a healthcare organization, along with their corresponding risk identification techniques (e.g., financial, human capital, clinical, strategic, and legal/ethical.) What risk management strategies will the organization use to identify potential organizational risks. Review the Instructions for additional information. What are examples of risk categories and their appropriate corresponding risk identification techniques? Review the Instructions for additional information.]
Financial:
Human Capital:
Clinical:
Strategic:
Legal/Ethical:
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 2 – Application of Risk Management Principles – Specific Incident
[Provide a brief introduction to this portion of the paper. Part 2 of the assignment should be 3-4 pages, double spaced, much like an APA paper would look. Before you begin, review the “Instructions” and “Scoring Guide” to understand the difference between “Distinguished”, “Proficient”, “Basic” and “Non-Performance”. These “Scoring Guides” are used to grade the assignment. Parts 1 & 2 should be a total of 6-8 pages, excluding the Cover and Reference Pages. Delete all statements within brackets, such as this paragraph, and replace with your discussion.]
Risk Description
[Provide an overview of the risk (using the same risk you selected in the Week 2 Assignment). Describe which potential risk to your organization from the Vila Health: Patient Safety simulation are you analyzing? What are the risks to the patients, employees, and organization if this risk is not addressed? What risk management strategy(ies) and techniques will the organization employ to identify this type of risk in the future? What other strategies might the organization employ to identify the risk? Be sure to include your rationale for choosing the particular strategies.]
Evidence-Based Risk Management Strategies To Reduce/Eliminate
[What evidence-based (supported by current literature) risk management best-practices or strategies could the organization employ to eliminate or reduce the risk in future? What steps would you take to implement your plan to eliminate or reduce your selected risk?]
Importance of a Risk Management Program
[Explain the importance of a risk management program to health care organizations. This discussion might include: What are some important elements of a risk management program? Why is a risk management program important to the organization? What is the organizational impact of not having a risk management program?]
References
[Lastname, C. (2008). Title of the source without caps except Proper Nouns or: First word after colon. The Journal or Publication Italicized and Capped, Vol# (Issue#), Page numbers.
Lastname, O. (2010). Online journal using DOI or digital object identifier. Main Online Journal Name, Vol#(Issue#), 159-192. doi: 10.1000/182
Lastname, W. (2009). If there is no DOI use the URL of the main website referenced. Article Without DOI Reference, Vol#(Issue#), 166-212. Retrieved from http://www.mainwebsite.org
NOTE: The above references are SAMPLES ONLY. For more information and example related to references, visit Capella’s Writing Center. YOU ARE RESPONSIBLE FOR SUBMITTING APPROPRIATE IN-TEXT AND REFERENCE PAGE CITATIONS.]
Instructions
Part 1: Risk Management Policy and Procedure (3–4 pages)
As the new risk manager in your health care organization, your director has assigned you the responsibility of drafting the organization’s risk management policy and procedure. This assessment 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:
· Discuss 3 of the 5 following health care risk categories, as well as their corresponding risk identification technique:
· Financial.
· Human capital.
· Clinical.
· Strategic.
· Legal/ethical.
· 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 your readings.
· What are some specific examples of risks 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 the 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 2: 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: Provide an overview of the risk including a description of the risk, implications to patients, and risk management strategies.
· Which potential risk to your organization from the Vila Health: Patient Safety simulation are you analyzing? These include a patient identification error, a medication error, and a HIPAA/privacy violation.
· Risk Implications: Propose evidence-based risk management strategies and techniques to identify and eliminate or reduce a particular risk.
· What are the risks to the patients, employees, and organization if this particular risk is not addressed? In other words, what could happen if the organization chooses to do nothing?
· Risk Reduction/Elimination: Propose evidence-based risk management best practices or strategies to identify and eliminate or reduce a particular risk.
· What evidence-based risk management best practices or strategies 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?
· Importance of a Risk Management Program: Explain the importance of a risk management program to health care organizations.
· Why is a risk management program important to an organization?
· What are some important elements of a risk management program?
· What is the organizational impact of not having a risk management program?
Please review the Risk Management Policy and Procedure Scoring Guide to ensure you understand the grading requirements for this assessment.
Additional requiremners
Your assessment should also meet the following requirements:
· Template: Use the Risk Management Policy & Procedure Template [DOC] to complete this assessment.
· Length: 6–8 double-spaced pages, excluding title and reference pages.
· Font and font size: Times New Roman, 12 point.
· APA format: Your submission— including the body, citations, and title and references pages— needs to conform to current APA format and style guidelines. Make sure that it is clear, persuasive, organized, and well-written, without grammatical, punctuation, or spelling errors. Also, you must cite your sources according to current APA guidelines.
Competencies Measured
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
· Competency 1: Analyze the quality and performance improvement activities within the health care organization.
· Provide an overview of the risk including a description of the risk, implications to patients, employees, and organization if risk is not addressed, and risk management strategies.
· Propose evidence-based risk management strategies and techniques to identify and eliminate or reduce a particular risk.
· Competency 2: Explain the risk management function in the health care organization.
· Define key risk management terms.
· Describe the major risk categories in a health care organization, along with their corresponding risk identification techniques.
· Analyze the risk manager’s role in effective management of the organization’s risk management program.
· Explain the importance of a risk management program to health care organizations.
· Competency 5: Communicate in a manner that is scholarly, professional, and respectful of the diversity, dignity, and integrity of others and is consistent with the expectations for health care professionals.
· Use correct grammar, punctuation, and mechanics as expected of an undergraduate learner.
· Writing adheres to APA formatting rules and APA writing style with few or minor errors.
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