Organizational Risk Management Paper Example

Risk management is something that every organization has in place in case of any factors that may be or cause any kind of problem to the organization is accounted for. Risk management is the act of practising the identification, evaluation and prioritizing potential risks in advance and analyzing them so as to reduce the threat or curb the risk it may pose to an organization (Meissner et al, 2015). When it comes to risk management, the key factors being looked at is the financial risks, the organizational risk to fail, employee risks, infrastructural risk and so on (Alexander et al, 2014). Nursing homes are, therefore, long-term facilities that involve taking care of people who are well enough to be at home but can not be taken care of at their homes hence the nursing homes. In the nursing homes, there are people with different types of ailments that need special skills and care. Professional nurses with required skills help in the nursing homes (Frigo, 2011).

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Risk managers ensure the success and productivity of the organization ( Alexander et al, 2014). For instance, at Sava Senior Care which is based in the united state, there is certain risk management put in place for its success. It exposes itself to various risk factors such as bankruptcy and vitality in capital markets (Frigo, 2011). In nursing homes, there are various challenges faced especially in controlling infectious diseases that may affect the patients and the staff members as well. The risk management strategies that the Sava senior care has in place to counterattack any developing risks within the facility and also how to prevent the negligence, the manipulation and malpractice within the facility, the litigations and the various vicarious liability experienced by the facility (Meissner et al, 2015).

In various risk management programs are put in place at Sava senior care to help in the running of the daily activities and to offer the required provision to there clients. In organizations such as nursing homes, there are several challenges they are faced with in relation to the kind of work setting they have. The homes should be clean and infection free and if it is not, this can cause a risk to the organization (Meissner et al, 2015). At Sava senior care, they are faced with different challenges and responsibility on a daily basis hence the implementation of risk management. As the infection preventionists, they must be knowledgeable about the various regulations and its standards. There are many agencies that are involved when it comes to health care and all of them need to be reported to regarding the status of the facility. For example, the Hospital acquired condition ( Alexander et al, 2014).

The challenges faced by risk management at Sava senior care also includes the increased number of responsibilities preventing the accomplishment of the goals of the facility. This, therefore, leaves limited time for the nurses to devote to another inactivity in the home such as the patient safety programs to increase hygiene and decrease the antibiotic resistance and transmission within the Sava Senior Care. The major challenge, however, comes in where there is inefficiency in the infection surveillance. With increasing number of patients, it is becoming tiresome for the infection prevention to go round in shits to ensure safety and hygiene within the home. Lastly, there is a situation where a nurse acts without budgetary authority and this brings some downfalls to the organizations budget. With the challenges faced by Sava Senior care, some certain strategies, policies are put in place to govern the risk management in the facility (Frigo, 2011).

With the risk challenges faced, Sava Senior Care has put in place strategies, a well structured and coherent approach to assess, evaluate, identify and manage risk within the home setting. For instance at Lone Fathers Action Group, they have made a time period to always review the risk the company is faced with. Future more, the policies that are implemented go in line with the strategies put in place to assess and review the risks that face the organization for them to be able to manage it before it causes any harm to the organizations' goals and also to the patients being cared for (Meissner et al, 2015).

At Save Senior Care, it is exposed to many situations that may put it at risk of either financial problems, loss of patients and even death. Any of this risks can lead to the closure of the organization as it will look like it is unfit to be operational. Risk management, particularly at nursing home, is always majored on the protection of the patients and the employees. The patient's health is put at risk and this makes the employees vulnerable thus the need for risk management. With the assessments and evaluation of daily activities at the nursing home, various risks are managed hence improving the organizations' report and its status to those considering to join Sava Senior Care. Some of the strategies involve daily updates on the patients' conditions and the development, the conditions of the infrastructure and the environment that may affect the patients in any kind of way. These strategies make the facility for operational.

Conclusion

The policies regarding risk management at Sava Senior Care is to ensure that the likely risks that face the organization can be curbed before it actually affects the company. Therefore, in the organizations' risk management interview, the facility is to know how to prevent any risk factors from happening before it actually happens or reduce the impact it may have on the organization if it can not be maintained or reduced. Risk management is thus important to any facility that wants to achieve their goals and get productivity from the work they put in. Risk management procedure, therefore, helps with that.

References

Frigo, M. L. (2011). Strategic risk management: The new core competency. Hoboken, N.J: Wiley.

Kavaler, F., Alexander, R. S., & Kavaler, F. (2014). Risk management in healthcare institutions: Limiting liability and enhancing care. Burlington, MA: Jones & Bartlett Learning.

Koenig, M., & Meissner, J. (2015). Risk management policies for dynamic capacity control. (Computers & operations research.)