Risk management Essay Example | Topics and Well Written Essays - 2250 words

Risk management - Essay Example This can be done by quick and speedy detection of the errors so as to alleviate adverse effects that may result from the menace. The quantity of errors reported from the healthcare setting has resulted to high numerical counts of deaths. In this situation, Joint Commission Resources (2001) shows that the matter of medical safety must not be approached carelessly, but a group effort of all the involved stakeholders in tackling the issues. This can be achieved by the administration of the affected healthcare institution by establishing a plan whereby the health practitioners can find means of reporting any form of errors that take place in the health institution. In this case, the institution will be better positioned in terms of risk management that may arise due to medical errors, an added benefit to the patients. Risk management, according to Cohen (2007), requires collective effort, the health providers have to feel comfortable and always report errors that emanate from dispensing duties. This will create a situation whereby the health practitioners will accept their mistakes and actually learn a great deal from them. This fear-free culture will indeed allow the health practitioners to be comfortable with their bosses. Risk management of medical errors, in one way or another allows the health practitioners to devise measures of dealing with factors that may lead to packing the wrong medicine to the patients, labeling or even give the wrong information regarding consumption of the medicine. No matter how experienced medical practitioners may be, chances are that they may get involved in medical errors. Strategic Objectives At Risk (SOAR) process and risk management This leads to the development of the risk management methodology that endeavors to identify the types of risks in the healthcare setting, and devising the best means of dealing with the risk. Monahan (2008) indicates that for risk management to be effective, the Strategic Objectives at Risk (SOAR) p rocess has to be applied. This, according to Monahan’s research refers to the process in which the risk managers can have a better understanding of the risks involved; thus, devise the best methodologies that can influence positive outcomes to deal with the risks. In the course of applying the Strategic Objectives At Risk (SOAR) methodology, the health practitioners will have a better opportunity to gain an understanding of the factors underlying the actions that are applied in the case of dealing with medical errors. Therefore, the managers are well guided on what policies to apply if they have to manage risks objectively. Through systematically laying out of the factors that deal with medical errors- the SOAR methodology-risks can be well assessed and managed (Monahan, 2008). Risk identification and analysis Medical errors can be categorized in a number of groups. One of the errors that may take place while dispensing medical care includes the prescribing error. This error involves giving the patients the wrong medicine either by mistaking the types of products present in the store or by not being certain the implications of a particular drug on the patients. As a result, Cohen (2007) indicates that there is a great likelihood that the patients