Risk Management in Health Care

Paper Summary:

This paper discusses risk management first as a concept and then as applied to health care in the United States, noting that any human action involves a degree of risk, and managing that risk begins with identifying what the risk may be in each case. The paper shows that once this has been done, the next task involves deciding what to do about it, through a process of risk mitigation or risk reduction.

From the Paper:

"Risk is a condition of life and is noted and measured and addressed in all human endeavors. Risk is encountered in financial matters, health matters, safety issues, the workplace, the home, and so on. Risk cannot always be predicted precisely, but risk management is an effort to ascertain risks and to prepare for them in whatever field in which it is applied. Any human action involves a degree of risk, and managing that risk begins with identifying what the risk may be in each case. Once this has been done, the next task involves deciding what to do about it, through a process of risk mitigation or risk reduction. The risk may also be transferred, such as takes place when a person or company buys insurance, an act which does not prevent the harmful outcome but which does compensate for it."

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