Detailed Analysis of Healthcare Risk Management in Nursing

This report provides a comprehensive overview of risk management in a healthcare setting, specifically focusing on nursing practices. It defines risk, emphasizing its potential impact on organizational outcomes, and details the implementation of tools and techniques for monitoring and mitigating risks. The report outlines the development and implementation of risk management programs, including stages like risk identification, quantification, response, and monitoring. It highlights the involvement of various stakeholders, such as physicians, nurses, and administrative staff, and discusses the importance of training and the roles of healthcare risk managers. The report addresses challenges like patient safety and regulatory compliance, and incorporates directives from governing organizations. Furthermore, it explores the roles of the Joint Commission, ethics, compliance, and the different lines of defense in risk management, including the responsibilities of senior management and the board of directors in ensuring effective risk mitigation strategies. The report references several sources to support its findings.

Nursing Assignment
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Summary:
Risk is defined as an event or incidence which can probably occur and it could positively or
negatively impact outcome of the organisation. Risk can have one or more reasons to occur
and also it can have one or more impacts. Tools and techniques were implemented to monitor
and trail events and incidences that can potentially prevent risks. Policies and procedures
related to the risk management programme were developed prior to the implementation of the
programme. Responsibilities for the implementation and monitoring of the programme were
given based on the expertise and experience of the different stakeholders. Targeted time
schedules were followed during implementation of the programme. Risk management is the
ongoing process throughout the lifecycle of programme and main focus was given to plan,
identify, analyse, monitor and control the risks. These processes were updated during the
whole lifecycle of the programme because newer risks were evident at different times. Risks
were identified prior to initiation of the project and number of risks went on increasing as risk
management programme advanced. Mitigation steps and contingency plans were effectively
implemented in this risk management programme. Risk management programme comprised
of four stages like risk identification, risk quantification, risk response and risk monitoring
and control. Risk management programme was developed and implemented to ensure the
safety of patients, staff and organisation. Different stakeholders like physicians, nurses, ward
boys, administrative people and management people were incorporated in the risk
management programme. Training was given to all the stakeholders for implementation risk
management programme. Healthcare risk managers were mainly responsible for the
assessment, development, implementation and monitoring of the risk management plans to
achieve the goals to reduce risky exposure. Roles and responsibilities of administrative
people were decided by head of the organisation. designing and implementing, risk
management programme challenges encountered in the organisation were analysed and risk
management programme was planned with respect to challenges. Identified challenges in the
healthcare organisation were patient safety, compulsory federal regulations, potential medical
errors and healthcare legislation. Negative effects of the potential risks were identified and
efforts were made to reduce these risks. Directives of the governing organisations like
department of Health and Human Services, Food and Drug Administration (FDA), and
American Society for Healthcare Risk Management (ASHRM) were incorporated in the
preparation of the risk management plan.
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Policies:
Healthcare risk manager should develop policies related finance, insurance and claims.
Policies related to emergency preparedness should be developed by healthcare risk manager.
Plans and policies related to incidence and event management should be prepared by risk
manager. Leadership level authorities should develop policies for development of risk
management policy. This policy should be consistent with the risk management strategy of
the organisation. Senior level authorities should develop policies related to the
implementation of plans and prioritising delivery of risk management policy inside scheduled
timeframe and allocated budget. Management level authorities should make policies related
to the purpose, role and benefits of the risk management policy and alignment of the policy
with the organisations policies and procedures. Support level authorities should make policies
related to the purpose of the risk management programme (Girling, 2013; Greene, 2014).
Joint Commission role :
Joint Commission should play important role in the Accreditation of Healthcare
Organizations. This accreditation can be helpful in improving safety and quality of healthcare
to be provided to the patients. This quality care can be provided through providing health care
accreditation and associated services which can be helpful in improving performance of
healthcare organisation. Joint Commission role also comprise of performance measurement,
information dissemination and public policy initiatives. Accreditation can be helpful in the
standards development and comparison with respect to established standards. Joint
Commission's role will also comprise of : Identifying potential risk, measurement of extent of
risk, identifying extent of outcome, if risky incidence occur, analysis of efforts to be taken to
reduce risks in the organisation, analysis of efforts to be taken to reduce negative impact of
the risky events and incidence and identifying potential of exposure (Calloway, 2014).
Relationship:
Ethics are mainly responsible for the good business practices like good healthcare services.
Good ethics can be helpful in the setting priority tone at the top for the management for
implementation of risk management programme. Top management’s truthfulness and
obligation for the ethical values are mainly responsible for preferences, judgements,
behaviour and compliance with legislation. Factors responsible for effective compliance and
ethics are governance, culture and values, incentives and rewards, risk management, policies
and procedures, communication and training, monitoring and reporting, escalation,
investigation and discipline and issues management and an on-going improvement process.
Business is considered as the first line defence for implementing and manging risks
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effectively. Implementation of the risk management should be in accordance with the
expectations of the board and senior management. Compliance and ethics or risk
management should be considered as the second line of defence and there should be optimum
resources, freedom and authority for the implementation of the risk management programme,
monitor it and intensify risky problem. Internal audit can act as third line of defence and it is
accountable for the delivering autonomous authentication. It also gives surety that all the risk
management programmes are in place and these are functioning effectively. It is the
responsibility of the senior management to give more emphasis to implement culture of
compliance and ethics. It is also the responsibility of the senior management to implement
effective organisational risk management programme which includes strategic planning,
capital allocation, monitoring of activities and compensation incentives. Board of directors
directly related to enforcing, monitoring, ensuring risk management. Board of directors also
responsible for meeting regulatory, compliance and ethics obligations (Luetge and Jauernig,
2013; Lina, 2015).
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References:
Calloway, S. D. (2014). The Compliance Guide to the Joint Commission Leadership
Standards. CPro, Political Science.
Girling, P. X. (2013). Operational Risk Management: A Complete Guide to a Successful
Operational Risk framework. John Wiley & Sons.
Greene, S. (2014). Security Program and Policies: Principles and Practices. Pearson IT
Certification.
Lina, S. (2015). Ethics and Risk Management. IAP.
Luetge, C., Jauernig, J. (2013). Business Ethics and Risk Management. Springer Science &
Business Media.
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