10 Risk Management

continued on next slide Learning Objectives After this lecture, you should be able to complete the following Learning Objectives: 10.1 - Define commonly used terms, abbreviations, and acronyms. 10.2 - Identify the steps required to complete a risk assessment. continued on next slide

continued on next slide Learning Objectives After this lecture, you should be able to complete the following Learning Objectives: 10.3 – Explain the benefits of performing a risk assessment. 10.4 – Enumerate the challenges to completing a risk assessment. continued on next slide

Learning Objectives After this lecture, you should be able to complete the following Learning Objectives: 10.5 – Complete a cost-benefit analysis.

10.1 - Define commonly used terms, abbreviations, and acronyms. Key Terms 10.1 - Define commonly used terms, abbreviations, and acronyms.

Key Terms adverse outcome cost-benefit analysis harm mitigation proactive strategy reactive strategy risk risk management

Introduction

Control Keep control over risk and liability issues Add details to many decisions in addition to straight financial cost Administrators must evaluate all types of risk to the facility, the staff, and the patients

Steps in a Risk Assessment 10.2 - Identify the steps required to complete a risk assessment.

Risk Management Proactive strategies seek to diminish the opportunity for harm Reactive strategies go into effect after an adverse outcome has occurred

Evaluate All Types of Projects New equipment New physical space Additional staff Additional services Expansion of population services Telemedicine

Steps in Risk Assessment Identify the harm that could be caused. Identify who may be potentially harmed. Determine the risk level. Identify precautions that are already in place. Identify additional precautions needed prior to implementation. continued on next slide

Steps in Risk Assessment Consult with those involved or affected by the proposal. Complete a cost-benefit analysis. Determine what to do. Create the official document.

Benefits of Risk Assessment 10.3 – Explain the benefits of performing a risk assessment.

Benefits Completing the assessment diligently will help to protect your facility and your people. This analysis provides opportunity to implement proactive strategies to diminish the level of potential negative impact.

Challenges to Completing a Risk Assessment 10.4 – Enumerate the challenges to completing a risk assessment.

Challenges A great deal of detail is needed. A great deal of research is needed to discover the existing risks, known to others Resistance from those afraid of the result of the assessment

Cost-Benefit Analysis 10.5 – Complete a cost-benefit analysis.

Cost-Benefit Analysis Determine the answers, in estimated dollars to: Will implementation result in lost productivity of any member or members of the staff? If so, to what extent? continued on next slide

Cost-Benefit Analysis Determine the answers, in estimated dollars to: How intense is the learning curve to train staff to use the new equipment or provide the new service? What will happen to their other job tasks while they learn? What is the cost for temporary fill-ins, overtime, or other costs? continued on next slide

Cost-Benefit Analysis Determine the answers, in estimated dollars to: Will continued use of the equipment or service increase the overhead of the organization; utilities, staff, property and liability or malpractice insurance, support equipment? If so, to what extent? continued on next slide

Cost-Benefit Analysis Determine the answers, in estimated dollars to: What is the expected return on investment (ROI)? Will any part of the implementation phase cause an interruption of current services to the existing patients? continued on next slide

Cost-Benefit Analysis Determine the answers, in estimated dollars to: Does the project require government or other agency authorization prior to implementation? If so, what is involved to apply for approval? How long does this approval process take? continued on next slide

Cost-Benefit Analysis Factor in estimated costs of implementation Determine actual or estimated dollars for out-of-pocket costs, such as equipment, hiring temp workers, etc.

Risk Management To-Do List Do maintain proper licensure, credentials, and privileges at all times. Do maintain professional decorum at all times. Do treat patients with dignity and respect. Do write legibly. continued on next slide

Risk Management To-Do List Do use only standard terminology. Do chart as soon after the encounter as possible. Do chart comprehensively. Do document any patient noncompliance. Do initial and date all test results when reviewed. continued on next slide

Risk Management To-Do List Do obtain proper written, informed consent prior to any non-emergency invasive procedure or any procedures not expected to be covered by insurance. Do ensure that patient records are clearly labeled to indicate drug sensitivities. continued on next slide

Risk Management To-Do List Do ensure that a suspected occurrence of malpractice or other liability is never documented in a patient's chart. Do inform health care providers that they should never criticize another professional or staff member in the patient's chart. continued on next slide

Risk Management To-Do List Do educate all members of the staff on the proper way to change or correct chart entries. Do ensure that no part of any patient's record is destroyed without sufficient direction to do so by the administration. continued on next slide

Risk Management To-Do List Do instruct your staff never to promise a cure or guarantee results. Do clearly direct your staff to avoid communication with a plaintiff's family, friends, or attorney.

continued on next slide Summary Enable decision making based on complete information. Decision may result in alteration of existing policies and procedures, the creation of new policies and procedures, or denial of proposed project. continued on next slide

Summary Remove involvement of emotion or influence. Encourage decisions based on logic and complete analysis of the facts.