Risk Management: John Hopkins University Hospital

Risk Management: John Hopkins University Hospital
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Introduction
Risk is an inevitable occurrence in the healthcare sector. The complexities surrounding human care, ever-changing technology, and the provision of multifaceted care, guarantee that healthcare facilities will experience adverse risks at one point in time. every risk that occurs has the potential to negatively impact an organization's operation, kill its reputation, and bring about huge financial losses. according to Jon Links, a Risk & Compliance Manager in John Hopkins hospital, “the medical culture that initially entertained blames, criticizing, and accuse has faded, and what has now been instituted is a systemic culture that emphasizes on respect, trust, successful systems, knowledge, and confidentiality.” as such, preventing risks arising from diagnostic, medical errors, privacy breaches, hazardous conditions, among others demand systemwide involvement and collaboration. Today’s healthcare organizations have no room for errors and through enterprise risk management (ERM), the aim is to include everyone in the facility to turn risks into opportunities. John Hopkins like many other healthcare facilities takes risk management seriously.
Risk Management Strategies
Risk management is the process of identifying, analyzing, responding to, and mitigating organizational threats. The risk management department in John Hopkin hospital uses a variety of methods and tools to identify, evaluate, and manage risks. Risk managers identify risks possible risks using a variety of ways including the use of periodic inspections, peer review reports, and observational methods including patient and family surveys, employee reporting, brainstorming, and focus groups. Collectively, these risk evaluation techniques offer a detailed picture of both internal (i.e., employee fatigue, medical errors, employee qualification, and leadership) and external risks (i.e., environmental safety, regulatory compliances, competition, and reimbursement issues) (Ferdosi, Rezayatmand, & Taleghani, 2020). Everyone takes part in risk reporting and once a list is compiled risk managers review and provide quick fixes. For complex or long-term risks, comprehensive mitigation strategies are always recommended. Additionally, the organization ensures that it establishes risk management practices that allow it to manage all possible risks.
Employee education, fostering a risk reporting culture, transparency, departmental communication, standardized processes, and performance assessment and monitoring are extra risk management strategies adopted by the risk department. Ideally, employee involvement in risk management has over the years helped foster a culture around its risk management (Messano, De Bono, Di Folco, & Marsella, 2014). Ensuring that employees are not fearful of reporting any problem is ideal. For example, John Hopkins Hospital has established friendly reporting culture that focuses on ultimate patient safety and is founded on the notion that every party involved in the organization – leaders, patients, government, families, and other stakeholders – are responsible and must therefore be an active participant in the ri...