29 Apr Practical Tips to Manage Risk in Today’s Changing Practice
As the owner of a medical practice, you must remain aware of the different risks that you are exposed to.
While it is common for businesses to face a certain amount of risk at all times, in health care, you must be vigilant. The nature of the dangers that a health care facility faces can result in a significant financial loss.
Therefore, it’s essential to have a risk management strategy in place that will help you avert potential problems. In this article, we will discuss some practical tips that you can use to pave your way towards better risk management.
STUDY EXISTING DATA
Without having complete and accurate records, you cannot identify risk promptly.
If you have implemented effective record-keeping practices in your facility, you can use that data to understand potential risks.
This data must include all the incidents that have taken place in the past and any complaints filed by the patients. By studying this data, you can recognise areas that need improvement.
Apart from looking at the internal data, you must also examine the existing statistics and trends found in other private practice centres. Make sure you look at facilities that are similar to yours in size and demographics.
OUTLINE YOUR STRATEGY
Once you have compiled all the necessary information regarding incidents and potential risks, you must set goals for your practice.
These goals must be quantitative so that you can measure your performance in the future.
Some ideas for clear and concise goals include:
- Your medical practices must be a safe environment for all visitors and must not result in hurting the patients, e.g. sharp edges on furniture that children can hurt themselves.
- Everything that you do must be done while keeping in mind the interests and betterment of the patients.
- Your practice must adopt green habits and reduce waste as effectively as possible.
- The maintenance of your medical equipment and medication must be in full compliance with all regulations.
- Patient follow-up must be an essential part of how you operate your practice.
FORM POLICIES
Once you have a strategy in mind, you must formulate clear policies that all team members can understand. Moreover, you must make sure that all your procedures comply with all state, federal and governing body practice regulations.
You must also address other issues about risk management such as violence within the workplace, theft, substance abuse, and discrimination.
An adequately outlined policy framework will help you significantly in risk management.
EDUCATE YOUR TEAM
Once you have a comprehensive compliance and risk policy manual, it is time to have all team members on-board. To do this, you must clarify to every individual what you expect from them.
This is done by setting up regular training workshops and recording them for future use.
Many practice owners carry out such sessions only after a problem arises.
To avoid the occurrence of an incident, you must give training as soon as an employee joins your team.
MAINTAIN ONGOING COMMUNICATION
The process of risk management does not stop with the formation and understanding of policies. You must also carry out regular follow-ups to make sure that everyone understands the importance of risk management.
To do this, you must maintain effective communication within your practice, and make sure it is documented to mitigate your liability.
An integral part of effective communication lies in addressing patient complaints as soon as they come in and making necessary changes.
If you find all of this to be overlapping with your other roles and duties, you can hire a risk manager.
You can assign this person the responsibility of carrying out a risk assessment and helping you formulate policies.