Risk and Quality Management Assessment

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Risk and Quality Management Assessment Summary Yolanda Mercer HCS/451 August 4, 2014 Dorothy Webb-Moody Risk and Quality Management Assessment Summary Risk and quality management are two key concepts that help run a successful business. Risk and quality management programs provide techniques, tools, and different methods for health care organizations. Using risk and quality management programs ensure organizations provide quality health care. Novant Health is an integrated system of outpatient centers, hospitals, and physician practices located in Winston-Salem, NC and Northern Virginia. They pride themselves on providing the best quality care for the people for their community. This executive summary will provide their current…show more content…
2. Consider alternative risk techniques- According to Carroll (2009), “Risk treatment strategies include two general categories: risk control and risk financing” (para. 1). Controlling risks involves preventing losses and mitigating the amount of losses; risk financing involves paying for losses that occur. As stated earlier Novant Health takes risk management seriously. The organization engages in practices that help reduce risks; a key practice is participating in continuing medical education. To control risk financing, Novant has a risk retention group that specializes in medical malpractice liability coverage for preferred risk physicians. 3. Select the best risk management technique or combination-According to Carroll (2009), “Health care organizations accept a certain amount of patient care liability risk through an insurance deductible or self-insured retention” (para. 5). Novant works to evaluate market rates and offer package malpractice coverage based on the practice’s needs. 4. Implement selected techniques- Carroll (2009), stated “The implementation process involves both technical risk management decisions that are made by risk management professionals and related decisions that are made by other managers within the organization” (para. 4). New Star Program was implemented to impact medical malpractice
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