Clinical risk management

What it is

Risk management refers to strategies that reduce and minimize the possibility of a loss. The systematic gathering and utilization of data are essential to loss prevention.

A risk management strategy provides a structured and coherent approach to identifying, assessing and managing risk, and it builds in a process for regularly updating and reviewing the assessment based on new developments or actions taken. It can be developed and implemented by even the smallest of groups or projects, or built into a complex strategy for a multi-site international organisation.

The primary goal of a successful risk management is to reduce untoward events to patients. Risk management programs are designed to reduce the risk to patients and the resulting liability to the health care provider. Standard of care is the foundation for risk management.

How it is treated

Medical risk management is a three-step process:

• 1) Identifying risk.
• 2) Avoiding or minimizing the risk of loss.
• 3) Reducing the impact of losses when they occur.

Medical risk management focuses on risk reduction through improvement of patient care. Good risk management techniques improve the quality of patient care and reduce the probability of a medical malpractice claim or adverse outcome.