Read and respond to at least two of your classmate’s discussion posts. Be constructive and professional with your thoughts, feedback, or suggestions. 125 words each

1.Risk management practices have made the health industry proactive instead of reactive. Health organizations are able to save money as well as lives by implementing risk management policies. The medical industry is at risk for litigation and lawsuits which can be detrimental to funds and usually a loss to plaintiffs. Organizations were in a position where they only reacted when a problem occurred which possibly would be too late. Risk management helps to keep a patient safe. Professionals must be trained and educated so that they know who to report to and how to implement prevention strategies. Employees also should be attentive and reactive to anything that could pose a risk even with the staff. An example of this could be if a facility put in place that a resident can only work so many consecutive hours in a day to avoid medical errors or potential harm to patients. Another example of risk management practices is the way the facilities have incorporated software to transmit and share data protecting the privacy of patients. Policies, procedures and regulations have been implemented to try to eliminate, decrease and avoid errors and the mishandling of confidential information…another proactive measure.

2.Risk management is a major influence in the health care industry. Moskowitz (2018), “Risk management in healthcare is potentially more important than in any other industry. In most industries, an organization develops and implements risk management strategies to prevent and mitigate financial losses.; Risk management in this industry can mean the difference between life and death, which makes the stakes significantly higher.” It deals with things like malpractice suits and get the issues of those resolved. There are different types of people in the health care industry that deals with risk management. Some of them include: Risk managers-they are the ones that have the experience in handling risk-related issues in multiple settings. Financial Risk management are the ones that analyze its current risk management strategies to see if it’s ahead or behind the curve. If it were not for risk management, can you imagine what types of issues that would not be resolved and how many losses there would be in health care.

Reference:

Moskowitz, D. (2018). The Importance of Healthcare Risk Management . Retrieved from https://www.investopedia.com/articles/personal-fin…