Risk Management: A Plan for Action - Healthcare Hospital

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Risk management in a healthcare hospital is important because of the complex nature of risks. An important risk in the case of a hospital is that hackers stop the hospital's computer system and then make demands for exorbitant sums of money. There are other problems such as risks of delayed diagnosis and treatment. During the pandemic, it was observed that there was a serious risk from a backlog of patients for other ailments. Moreover, every healthcare hospital faces the risk of social engineering fraud, Add o this the risk of violence against healthcare workers. One recent risk is the problem of health records being sold on the Dark Web. Risk management in a healthcare hospital is important because it predicts probable issues that can harm the hospital. Once the probable issues are identified, the hospital can create a culture that reduces or eliminates these risks. With risk management, the hospital can avoid catastrophic events. For example, a hospital that has risk management processes will not fall prey to hackers who can bring down the hospital computer system and extort money. Moreover, an important function of risk management is to provide a disruption-free environment to the hospital so that the hospital can grow over time. Similarly, risk management is important for a Healthcare Hospital because a hospital that has a culture of risk management and risk management measures in place will be productive, avoid disturbance, and remain competitive. In today's business environment risk management provides measures for business process improvement. From the point of view of the hospital risk management is crucial for planning. It creates a higher awareness of hazards and possible risks (a). Also, risk management in the hospital enables informed decision-making. Risk management provides data that enables faster decision-making. It increases the confidence the Healthcare Hospital makes decisions. In addition, risk management in a hospital provides a safer work environment. Since everyone knows about the hazards and they know how to avoid these risks, the work environment in the Healthcare Hospital becomes safer. Risk management allows the hospital to implement a proactive risk management method. This communicates to the employees of the hospital that the leadership of the business is serious about protecting the mental and physical health of the health workers. The importance is that proactive risk management helps increase employee loyalty and motivation. The overall impact is that there is higher health worker engagement and productivity in the hospital. Health worker retention at the Healthcare Hospital will increase and workers will not leave the hospital because of the negligence of management or the organization. When the hospital has risk management in place the workers have a good understanding of how the hospital works. For example, the workers understand how the Healthcare Hospital speeds up diagnoses and treatment during pandemics. When a hazard occurs, risk management creates a hospital where every health worker can communicate within and outside the organization for addressing the hazard. Risk management is important because risks occur at hospitals. However, when risk management is used in hospitals (b), the measures reduce the impact of incidents. This reduces both direct and indirect costs. One of the key reasons why risk management is important in a hospital is that risk management helps compliance with regulations.

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