Explore BrainMass
Share

Compenents of Risk Management

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

What is risk management? What are the components of a risk management program? How can the risk management process reduce organizational risk? What are the roles and responsibilities of a risk manager as well as those of the clinical delivery team, including physicians? What are the regulatory requirements and standards associated with federal mandates, including HIPAA, and accreditation? What are the risk management methodologies, strategies, and tools? What is the financial and risk correlation for organizational profit and loss?

© BrainMass Inc. brainmass.com October 25, 2018, 7:49 am ad1c9bdddf
https://brainmass.com/health-sciences/health-care-management/compenents-of-risk-management-516208

Solution Preview

Hi, Hope this helps you.
Thank you for using BrainMass

Risk Management can be defined as an ongoing process of identifying, analyzing, treating, and monitoring the risks involved in any activity or process in a logical and systematic way (Abkowitz, 2008; Cagliano, 2011; U.S. Department of Health and Human Services [DHHS], 2012). As a process, it can have proactive and reactive components. Proactive components are procedures or actions implemented to prevent adverse events (DHHS, 2011). That is the organization actively searches ways and implements procedures within the organization's culture that will prevent possible adverse events. On the other hand, reactive components are responses to adverse events implemented to prevent future similar events (DHHS, 2011). In the case, the organization reacts after the fact and takes the necessary steps within the organization's procedures and statues to prevent similar events. For this context, Ross Baker et al. in Cagliano (2011) defined an adverse event as an unintended injury or complication resulting in disability, death or prolonged hospital stay that is caused by healthcare management rather than by the patient's underlying disease process.

Risk management is an essential part of any organization as it can reduce the organizational risks to adverse events as it relates to its operations. The use of proactive and reactive components reduces the probability of adverse events by minimizing the risk to patients, liability exposure of health care ...

Solution Summary

The solution involves a discussion of the definition of risk management, its components including strategies and tools, roles and responsibilities of a risk manager in health care and regulatory requirements. It includes references.

$2.19
See Also This Related BrainMass Solution

Examining Financial Statements - Landry's Restaurants

Please help with the following:

Using the financial statements of Landry's Restaurants located in Appendix A of the text, Fundamentals of Financial Accounting 1st ed., by Phillips, Libby, and Libby, prepare a 1,050-1,400-word paper that addresses the following questions:
a. What is the amount of net income? Which financial statement did you find this information? What are the components of this financial statement?
b. What are the total assets? Which financial statement did you find this information? What are the components of this financial statement?
c. How much did they spend on property and equipment additions? Which financial statement did you find this information? What are the components of this financial statement?
d. Were any stock options exercised? Which financial statement did you find this information? What are the components of this financial statement?
e. Which financial statement do you feel is the most important? Why?
Properly cite your references. If you used an electronic source, include the URL. If you used a printed source please attach a copy of the data to your paper.

View Full Posting Details