Strategies Related to Loss Prevention

Consider financial and customer service focus issues and financial and employee impact and identify and discuss strategies related to loss prevention addressing the situation.

Risks are inherent in nearly every business. Health care is especially vulnerable to various hazards and threats. Once risks have been identified, risk management seeks to control the risks through a variety of techniques. In addition to financial and safety considerations, health care organizations must evaluate the extent to control risks in relation to their business strategy.

As an assistant hospital administrator, you have become aware of an increase in the number of accidental needle sticks by nurses. One of the affected nurses is especially distressed about her personal situation and concerned about the future well-being of other nurses employed at the facility. The hospital administrator has asked that you work with the risk management department in investigating this problem and determining what can be done to reverse this trend. In preparation for your meeting with the risk management department's staff, develop a response with 3 sections that evaluates and discusses how the following 3 risk control techniques can be applied to the situation. Describe financial and customer focus issues and concerns that should be considered with each technique.

Discuss the following:

- Exposure avoidance
- Loss prevention
- Loss reduction

Discuss how these risk control techniques can be applied to the above situation, repeated here:

As risk manager at the community health care center, you have become aware of an increase in the number of accidental needle sticks by nurses. One of the affected nurses is especially distressed about her personal situation and concerned about the future well-being of other nurses employed at the facility. The administrator has asked that you investigate this problem and determine what can be done to correct this trend.

- What are some of the financial and customer focus issues and concerns that should be considered with each technique?

Solution Summary

This article discusses how hospital administrators can minimize risks of injuries by needle sticks in the hospital nursing population. It deals with loss prevention, loss reduction, and exposure avoidance. It deals with financial and employee impact of these types of injury, and ways to avoid and/or lessen their impact.