Analyzing Risk With Enterprise Risk Management

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Analyzing Risk with Enterprise Risk Management Paper
Flora Azinge
University of Phoenix
Risk Management
Dr. Mary Jo Brinkman
June 29, 2015

DESCRIPTION OF THE INCIDENT: Nurse was passing medication at a particular room in a given hospital in the state of California. There were about four patients in the room as was approved by the regulation. Nurse mistakenly gave medication to the wrong patient, while he was laying down on his bed without properly checking if it was actually the right resident. This is a hundred bedded hospitals with behavioral residents that are confused and have the tendency of …show more content…

According to Caroll & Brown (2011), medication errors occur in every health care setting, including the physician‘s office. It is estimated that there are two hundred and eighteen thounsand, medication- related deaths annually, with a total cost of approximately one hundred and seventy-seven million. Events related to medications are the third – leading cause of death in the United States after heart disease and cancer (Caroll & Brown, 2011). The first steps of prescribing and administration are where error is mostly the highest in hospitals. Medication errors can include the following: wrong dosage, wrong route, wrong frequency (of rate for IV), wrong medication wrong choice of medication for condition, wrong time, wrong administration technique, wrong patient missed dose, known drug interaction, known allergy to drug, wrong reason (Caroll & Nakuruma,2011). Ideally, the organization will introduce a reporting system strategy that is specific to the clinical area to focus on this vital risk management issue at hand (Caroll & Nakuruma, 2011).

Criteria 2: Customer risks
Description of the risk management process External and internal risk consequences from the incident Plans to monitor and opportunities

Management process involves:
1. Identify and prioritize strategically important risks.
2. A time frame within which incidents must be reported
3. Designation of the individual to receive

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