Kindly find attached the document. In case of any edits, please let me know. Otherwise, it is a pleasure to have you as my buddy now in the future. Until the next invite, BYE!Risk Management in HealthcareNameInstitutionDateIntroduction• What is risk management in healthcare?• Risk management analyzes the processes and systems in the facility toidentify risk factors and develop strategies that would help avert these risks.• Risk management in healthcare can mean the difference between life anddeath.Concepts of Risk Management in theHealthcare Industry• Risk identification involves understanding the risks that are present in theorganization.• Risk analysis – understanding the frequency and the severity of the risks.Concepts of Risk Management inHealthcare Industry Cont.• Risk control- identification of strategies to avoid, prevent or reduce thelikelihood of the risk• Risk financing- financing losses that could not be controlled• Claims management- making claims to recover damages.Factors that Influence Risk Management inHealthcare Industry• Commitment and support from the top management• Size of the healthcare facilityFactors that Influence Risk Management inHealthcare Industry• Information technology of the healthcare facilities• Culture of the healthcare facilitiesRelationship Between Risk Managementand Quality Management• Quality management is the act of overseeing all activities and tasks to ensurethe desired level of excellence in either product or service provision.• Quality management and risk management complement each other.• Elimination, prevention, or reduction of the impacts of risks leads to qualityservices and products.Information and Information TechnologyMethods to Make Risk ManagementDecisions• Risk visualization programs• Data integration and analyticsKey Risk Management Tools in Healthcare• Root cause analysis• Brainstorming• Delphi techniqueChallenges in Making Risk ManagementDecisions in Healthcare• The failure to take known risks into account• Lack of proper risk management decision making structuresChallenges in Making Risk ManagementDecisions in Healthcare Cont.• Mismeasurement of known risks• Failure to use appropriate risk metricsReferencesAlam, Ali. (2016). Steps in the Process of Risk Management in Healthcare. Journal OfEpidemiology and Preventive MedicineFarokhzadian, J., Dehghan Nayeri, N., & Borhani, F. (2015). Assessment of Clinical RiskManagement System in Hospitals: An Approach for Quality Improvement. Global journal ofhealth science, 7(5), 294–303. https://doi.org/10.5539/gjhs.v7n5p294Farokhzadian, J., Nayeri, N. D., & Borhani, F. (2015). Rocky mili…
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