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Pages:
4 pages/β‰ˆ1100 words
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1 Source
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APA
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Business & Marketing
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Essay
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English (U.S.)
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Topic:

Medical Risk Reduction Strategies

Essay Instructions:

Case Scenario Analysis: you have been hired in the CAO's newly created position (Chief Administrative Officer) for a regional medical center. The responsibilities have been broken away from the COO (Chief Operational Officer) to focus primarily on all business and revenue generation activities.
You are a member of the hospital's executive management team (Chief Executive Officer, Chief Operational Officer, Chief of the Clinical Staff (medical and nursing), Chief Information Officer, Chief Compliance Officer, Chief Quality and Risk Management Officer, and legal counsel).
The hospital is a nonprofit. The services provided within the hospital include ICU, med-surg, labor and delivery, cardiac rehabilitation, emergency department, diagnostic testing including radiology and lab, same-day surgery, a retail pharmacy, ophthalmology and optical, oncology, limited physical rehabilitation, and physical therapy, patient education, substance abuse, renal dialysis, and patient education. The Joint Commission accredits the hospital with recertification in 2 years.
In your initial and informal strategic assessment, you felt several areas warranted further review under the Chief Compliance Officer (CCO). The foundation discussed was exclusively business and fiscally based:
The separated responsibilities of risk management, patient safety, and quality improvement from a business perspective.
The limited or defined methods and practices to minimize medical malpractice within the organization. Of specific concern were medical errors, adverse events, and hospital infections, even though no medical malpractice claim was filed against the organization or any clinical provider.
TASK(S): In your discussion with the CEO, she asked for an inclusive memorandum of record back to her to address the following from a business case assessment You have been there long enough to know the CEO is thorough and bases her decisions on collaboration, data, facts, and legal authority with the two primary objectives of high quality of care minimizing risk to the organization. Hence, she expects your assessment to utilize supporting evidence.
Examine the responsibilities of process improvement, risk management, patient safety, and quality improvement in a healthcare organization from a business case perspective. The CEO is explicitly asking since there is a Chief Compliance Officer, how these responsibilities could be (or should be) the responsibility of both members of the C-suite or remain under the Chief Compliance Officer.
Propose specific risk reduction strategies to mitigate medical malpractice, medical errors, and healthcare-associated infections (HAI's) from a business assessment. Again, use supporting evidence in your proposal to the CEO.
Knowing that these two responsibilities are multidisciplinary, recommend a C-suite and upper management ad hoc team by hospital positions to examine the items above for recommendations for process improvement teams. Support your recommendations with justification for industry standards or best practices.
While a memorandum can be in any professional format, it is expected that content is original, founded in best practices, and scopes of care with all external authors had APA citation to the sources in the body and on the last page with an APA reference list.

Essay Sample Content Preview:

Medical Risk Reduction Strategies
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Risk management in healthcare facilities involves the administrative and clinical processes, systems, and reports to identify, evaluate, reduce, and prevent vulnerabilities. The regional medical center's newly hired chief administrative officer is tasked with assessing the duties of process development, management of organizational vulnerabilities, patient safety issues, and quality improvement based on business management perspectives. By applying risk management, the healthcare organization can analytically and authentically promote patient safety and the organization's resources, accreditation, market share, brand value, reputation, and reimbursement thresholds (Nejm Catalyst, 2018). The chief executive officer requested a comprehensive memorandum of record, explicitly enquiring how these duties could be shared between the chief compliance officer and other members of the C-suite. The chief administrative officer is also asked to recommend specific risk reduction policies to alleviate medical malpractice, medical mistakes, and healthcare-associated infections (HAIs). In addition, the chief administrative officer is also asked to recommend an ad hoc crew of hospital positions to scrutinize the items above and make recommendations for process development teams.
Process Improvement, Risk Management, Patient Safety, and Quality Improvement
Process improvement is the systematic method of assessing and augmenting procedures to improve operational effectiveness, mitigate costs, and augment the quality of care delivered to consumers (Nejm Catalyst, 2018). The C-suite should be accountable for process improvement because they comprehensively understand the healthcare organization and the decision-making authority to allocate resources to different units to achieve the desired outcomes. The chief compliance officer should also be involved in the process because they have skills in regulatory framework and management of issues, which are indispensable elements of process enhancement. The chief compliance officer can offer guidance and support to the C-suite, and together they can guarantee that the processes comply with legal and regulatory mandates.
Risk management recognizes, evaluates, and manages issues or vulnerabilities that can negatively affect the hospital's operations (McGowan et al., 2022). The chief compliance officer is accountable for risk management, and he or she should work collaboratively with the C-suite to create and implement practical risk management programs. The C-suite should be involved in risk management because they have a holistic view of the organization's operations and can recognize underlying issues. The executives also provide the resources to design and implement risk management approaches successfully.
Patient safety is a decisive responsibility of healthcare organization leaders. The chief of the clinical staff (medical and nursing) is accountable for supporting processes that guarantee patient safety by reducing the potential for medical errors. The clinical staff chief should collaborate with the C-suite and the chief compliance officer to design and foster patient protection a...
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