Risk Management in Johns Hopkins Hospital

1498 Words6 Pages
Risk Management in Johns Hopkins Hospital Introduction Risk management is the managerial process of plummeting unreasonable and unplanned losses that ultimately affect an organization. To many it is also referred to as a loss exposure handling mode of management. In many organizations especially health facilities such as Johns Hopkins Hospital, losses mainly attributes to a financial crisis and require proper risk management methodologies. There are a lot of risks pertained to many day to day activities, ranging from surgeries to the actions of the health workforce and the subordinate staff. Hence, it is vital to address the risks through necessitated functions and tasks resulting to risk management. Concepts of Risk Management The basic concept of risk management in health organizations is to better the care regarding patients and to relate this aspect to financial consideration. The process maximizes on the care of patients and reduces unexpected or spontaneous financial losses in the organization. It is, therefore, important for the said institution to take dig into appropriate measures under risk management to curd problems in its clinical, operational and its financial state. The core principle in risk management is the creation, planning and implementation of a risk management program in the health care facility (CNA, 2011, pg 1). The program takes the sole responsibility of defining the organization's ultimate goals. It also describes its scopes, its
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