Business Analysis of Little Falls Hospital

1101 Words4 Pages
Background- In its most basic sense, risk management identifies, allows assessment, and prioritizes risks that are associated and central to an individual project or organization. Risk management allows the organization to be proactive in preventing or mitigating risks, for improving certain processes within the organization, and with the hope of preventing fiscal exposure. However, in almost every organization there are risks individuals are unique and do not always perform at a high level of safety; mechanical or design failures exist, construction projects have supply or labor issues, there are uncertainties in computer or data modification, of course natural disasters, and even deliberate attacks from competitors, etc. Because this is such a common occurrence, national and even international standards have been developed in conjunction with the insurance and regulatory institutions to at least provide basic guidelines to minimize risks risk (International Organization for Standardization, 2009). Little Falls Hospital is due for accreditation. In general, the process went well except for standards related to the 2010 National Patient Safety Goals. The regulatory body indicated that Little Falls has not devoted adequate human and organizational resources to these particular goals. For example: 1) there is no specific plan to address 2010 National Goals; 2) Recent plaintiff settlement by insurance carrier concerns; 3) Escalating costs of liability insurance with a policy
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