Risk Management in Healthcare: A review article

Abstract

It is recognised that Hospitals are increasingly complex organizations conducting with a critical and risky business that affects human lives. More than ever before, hospitals are bound to cope with a lot of risks ranging from financial to clinical and other hazards. Hospital management should to be cognizant of these risks. Enterprise risk management approach as an intrinsic framework of healthcare organizations encourages to assess and address risks identified in the organizations to ascertain the probability of occurrence, the degree of impact to scope, cost, and quality. The process of prioritization is done in accordance with the risk assessment findings. The objective of risk management can direct healthcare organisations in order to proactively reduce the probability and impact of identified risks to a satisfactory level by establishing a culture founded upon assessment and prevention of errors and maximize value protection. Risk management is a major responsibility of all managers and employees and must be included in the structure and processes to support continuous quality improvement