Risk Management Plan
Royal Health Center
777 Brockton Avenue, Abington MA 2351
+126879523645
Royalhealthcenter.com
info@royalhealthcenter@gmail.com
Mission Statement
To help people and families overcome illness to live healthier and longer.
Purpose
This risk management plan aims to help the Royal Health Center adopt a guided process that will ensure it can manage risks at the establishment in on an ongoing basis. This is possible, whereby this policy provides a structured and comprehensive risk management course. The outline herein will guide the hospital and its personnel through a common language, understanding, and methodology to identify, assess, monitor, and report risks.
Authority and Role of Risk Manager
The risk management steering committee will be compromised by the Board of Directors and senior leaders of the hospital. The chairman of the committee will be a member of the Board of Directors. The risk manager will be in charge of identifying and evaluating risks to minimize the likelihood of patients, staff members, and visitors succumbing to injury. Additionally, the risk manager will be in charge of analyzing current risk management strategies and make appropriate changes depending on the situation.
Scope
The risk management plan will apply to the whole institution. It will interface with all the operational departments and services throughout the organization. This will include:
- Building and grounds
- Corporate and regulatory compliance
- Finance/billing
- Human resources
- Infection control
- Employee health
- Patient education
- Disaster preparation and management
- Nutritional services
- Patient satisfaction
- Pharmaceuticals and therapeutics
- Safety and security
Objectives of the Risk Management Program
- Incorporate risk management operations in all operations at the organization.
- Minimize and prevent errors, events, or processes that would harm all stakeholders and continuously improve safety.
- Ensure compliance with legal, regulatory, and accrediting institution requirements.
- Provide risk information at the right time at appropriate levels.
- Promote a risk-aware culture that will benefit the organization as it continues to pursue other opportunities.
- Improve business performance following improved decision-making and planning.
Specific Components
Risk Identification
Comprehensive risk identification will be performed in a systematic and structured process. All risks that will be identified entail those that are within and not within the hospital’s control.
Risk Assessment
A risk assessment will be done in a two-fold process; that is, the likelihood of risk to occur and the magnitude of the impact if the risk occurs.
Action Plan
The action plan entails providing the right options to treat an identified risk. These can include accept the risk if it is not severe but subject to an established criterion, transfer risk to other parties-insurance, hedging the risk, and reduce the likelihood of a risk occurring.
Documentation
Documentation will be conducted at every stage of the risk management process. This is important as it will show that the risk management process has been conducted properly. Documentation will also provide a record of risks and help develop a database on the hospital’s risks. This responsibility is charged to the risk manager, who will designate further liability to the hospital’s departments and units that will perform and document risks.
Claims Management
The risk manager should spearhead all claims management against the organization. This will entail early identifying potential claims, notify the organization’s liability insurance carrier, evaluate liability and associated costs, provide documents, and witness to interrogatories, engage in dispute resolution, and investigate adverse events.
Reports to the Governing Body
The risk manager will be subjected to provide updated reports to the governing body. The reports will contain a summary of events, achievements, and risk issues of the hospital.
Review of Risk Management Plan
The risk management steering committee will be responsible for reviewing, updating, and reviewing the risk management plan.
Annual Evaluation of the Risk Management Program
The risk management steering committee will evaluate the risk management plan annually. Additionally, the body will provide recommendations that should be incorporated into the plan before it is finally approved.
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