The implementation of risk management is vital to the success of a company. When paired with a patient-centric approach, risk management can save employers time and money long-term. Utilizing risk management with a patient-centric approach ensures the long-term success of any company.
What is risk management?
Risk management places the focus of a healthcare provider on delivering the highest level of service, allowing for the continual reduction of risk and the earned reputation as a provider of excellent care to the community. Preventive actions through policies and procedures are utilized to reduce risk. Risk management is often cited in instances of sexual harassment or physical injury, but it also plays a crucial role in the loss of profits. By implementing risk management, companies have the opportunity to save money because by reducing risk through policies and procedures, you can avoid being caught off guard by a situation that could be financially devastating for a company.
What is a patient-centric approach?
Healthcare providers use a patient-centric approach to create a relationship between patients, their families, and practitioners, allowing practitioners to make decisions based on a patient’s specific needs. By utilizing a patient-centric approach, healthcare providers are able to keep service to patients at the highest level. A patient-centric approach aims to improve health outcomes on an individual level instead of a group level. In practice, an organization can utilize a patient-centric approach to tailor each individual’s treatment, creating a treatment arc that best serves all of the patient’s needs as every individual deals with illnesses and setbacks at a different place. It is essential to tailor each patient’s treatment plan to optimize the effectiveness of the treatment provided. From an organizational standpoint, a patient-centric approach is initiated and executed through an organized structure of policies and procedures that provide a structure to each caregiver while maintaining a flexibility for caregivers to expand and nuance their treatment for the needs of each individual.
Ultimately, keeping service at a high level dramatically reduces the level of risk associated with the goal of providing the highest level of care. By focusing on a patient-centered approach, you reduce the risk of company volatility by providing the highest level of care to each individual patient with a personalized success plan. HealthCues offers risk management that utilizes a patient-centric approach.