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Role of Enterprise Risk Management in Healthcare Paper Solution
Role of Enterprise Risk Management in Healthcare Paper
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Role of Enterprise Risk Management in Healthcare Paper
Introduction
The management of healthcare risks involves processes as well as systems that are applied by the healthcare providers to mitigate uncover as well as put preventive measures that may be caused by healthcare risks. In healthcare, risk management complices administrative and clinical systems, processes as well as reports that are employed to assess, mitigate, detect as well as prevent risks (Levett, Fasone, Smith, Labovitz, Labovitz, Mellott & Dotan, 2017).
Through the application of risk management practices, healthcare providers as well as institutions systematically and proactively be in a position to safeguard the safety of patients and the assets that belong to the caregivers, the healthcare organizations’ market share, brand value, community standing, and reimbursement levels.
Value and purpose of risk management
Since the application of risk management in healthcare, the main agenda has been the protection of the patient’s information as well as the reduction of any medical records. This was as a result of the above-mentioned factors jeopardizing the ability of organization ability in achieving their set mission as well as financial liability protection.
With the increased rate of technology advancement, an increase in the concerns of cybersecurity, the rapid growth of medical science, as well as the increased rate in regulatory changes, political changes, and legal climate, the management of health risk, has become more complex with time. Additionally, financial risks are increasing with the increased rate of electronic payment for services to healthcare providers.
Key components of performing management of risks in healthcare
Identify risk- risk management is mainly aimed at managing new risks as well as uncertainties, it has become a challenge to identify all the risks that affect the healthcare sectors with the increased evolution of technology (da Silva Etges, Grenon, Lu, Cardoso, de Souza, Neto & Felix, 2018) (Levett, Fasone, Smith, Labovitz, Labovitz, Mellott & Dotan, 2017).
But through the application of data science as well as machine learning, an organization providing healthcare services may be in a position to identify at least 98% of the risks and be able to take early mitigation steps.
Prioritize and quantify risk- once a risk has been identified
It is always important to score, rank and prioritize the risks. This procedure follows the impact as well as the likelihood of the identified risk. Then resources are allocated based on the priority. This is made possible through deploying risk heat maps and matrices which will help in enabling collaborative decision making and communication (da Silva Etges, Grenon, Lu, Cardoso, de Souza, Neto & Felix, 2018).
Investigate and report events- this involves following and establishes a plan which ensures that all the protocols or hierarchy of communication is followed and that the right person responsible receives the report at the required time (Levett, Fasone, Smith, Labovitz, Labovitz, Mellott & Dotan, 2017). Through reporting, the right measures will be taken at the right time to reduce the spread of the risk.
Perform compliance reporting- this includes coding and documenting critical medical information such as patient injuries, medical errors as well as workplace injuries.
Other components include capturing and earning, uncovering latent failures deploy analysis for incident investigation as well as finding the best balance, transfer, retention as well as financing risk management practices (da Silva Etges, Grenon, Lu, Cardoso, de Souza, Neto & Felix, 2018).The health risk management plan may have several components including education and training, patient and family grievances, purpose, metrics and goals, contingence plan, communication plan, the reporting protocols, and response and risk mitigation plan.
References
da Silva Etges, A. P. B., Grenon, V., Lu, M., Cardoso, R. B., de Souza, J. S., Neto, F. J. K., & Felix, E. A. (2018). Development of an enterprise risk inventory for healthcare. BMC health services research, 18(1), 578.
Levett, J. M., Fasone, J. M., Smith, A. L., Labovitz, S. S., Labovitz, J., Mellott, S., & Dotan, D. B. (2017). Enterprise Risk Management in Healthcare. In Surgical Patient Care (pp. 67-86). Springer, Cham.
Role of Enterprise Risk Management in Healthcare Paper
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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