4 benefits of risk management programs

Risk is inherent to healthcare, and how well a healthcare organization handles that risk is a hallmark of quality. Here are four benefits of implementing a risk management program, according to a Houston Chronicle report.

•    Improved understanding of risk. Implementing a thorough risk management program allows organizations to fully understand the risks they are exposed to and how to mitigate those issues.
•    Financial benefit. The presence of an effective risk management program is an effective safeguard against liability, particularly in the case of a lawsuit, according to the report.
•    Resource security. The ability to predict risk allows organizations to plan ahead and save staff hours that would be spent responding to an unforeseen issue.
•    Culture of safety. A structured program will hold all staff members accountable and enforce expectations of safety.

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