Risk Management Flashcards
What is risk
Possibility of suffering loss or harm
A dangerous element or factor
Something or someone that creates a hazard - can be good too though
Risk management is what
Trying to avoid risk/harm
Identify, analyze/assess, and address potential risk or threats
Processes to avoid accidents, decrease liability when incidents occur and improve quality
Protects assets from loss
Goals of risk management
Meet requirements
Economic
Personal (your own safety and safety of everyone you serve)
Societal (provide quality care in safe manner)
Risk assessment - you are looking at
What can go wrong
What is the likelihood that it will go wrong
What are the consequences
Risk Assessment includes
Risk identification Risk analysis Risk evaluation Risk control - risk avoidance and control/manage risks Constant monitoring Transfer risk
Risk Assessment includes - Risk identification
Identify possible risks that can happen - ways to identify:
Daily checks, pt surveys, audits
Risk Assessment includes - Risk analysis
Analyze each risk that you identified and determine how much risk is there
Look at all the processes you have in place - personnel, environment
Risk Assessment includes - Risk evaluation
Evaluate all the data and determine where you are at and where you need to be
Calculate the risk - compare the risk you identified to where you want to be
Risk Assessment includes - Risk Control
Avoidance - avoid that activity
Control/Manage - put something in place to prevent that risk from happening
Risk Assessment includes - Constant monitoring
Looking at policies and procedures and making sure that everyone understands them and that changes are being made as needed
Risk Assessment includes - Transfer the risk
Sharing the risk? Who shares in the risk of you treating somebody? - Academic institution - Patient - Physician
General and Medical Liability Insurance Carriers - includes what
Standards of care
Standards of practice
Performance improvement program
Risk management program
General and Medical Liability Insurance Carriers - Standards of care
Legal concept - are you doing what another prudent practitioner would be doing
General and Medical Liability Insurance Carriers - Standards of Practice
More of a regulatory concept - are you competent to provide those services
General and Medical Liability Insurance Carriers - Performance improvement program
Are you involved in any of these
Are you always trying to improve - con ed
General and Medical Liability Insurance Carriers - Risk management program
Do you have a risk management program in your clinic
Are you always trying to mitigate the risk
General and Medical Liability Insurance Carriers - Risk avoidance vs. Risk sharing
Avoidance = stay away from those activities Sharing = doing things to get rid of that risk (drivers ed, con ed)
General and Medical Liability Insurance Carriers - Two elements to identify potential issues
The things you do frequently or infrequently
The things that have high risk or low risk
Frequently tends to be a lower risk because you’ve been doing it longer and you learn from it each time
Areas of potential risk
Reputation Human capital Hazard Market Operations
Areas of potential risk - Reputation risks
Quality care
Communication
Personnel interactions
Confidentiality
Areas of potential risk - Reputation risks - Quality care
In PT practice your reputation could be tarnished providing quality care
Harder to come back from 1 bad pt experience than to build a new one
