Discuss the Roles of Risk Management in Reducing the Risk of Lost Revenue.

Introduction Risk is a probability of damage, injury, liability loss that is caused by vulnerabilities and that may be avoided through pre-emptive actions (Alam, 2016). Risk management is an organized effort to identify, assess, and reduce, where appropriate, risk to patients, visitors, staff and organization assets (Alam, 2016). Reducing risks should, in theory, reduce the incidents of malpractice. The risk management program can result in less unnecessary tests and treatments, reduction in common complications, reduced stay in hospital, and decrease in re-admittance due to post-treatment complications (Advanced, 2017). The role of risk management in mitigating organizational risk will be the focus of this discussion question. References Advanced medical reviews. (2017). The purpose of risk management in healthcare. (Links to an external site.) Retrieved from http://blog.admere.com/healthcare-news-tech/the-purpose-of-risk-management-in-healthcare/ Alam, A. (2016). Steps in the process of risk management in healthcare. (Links to an external site.) Retrieved from https://www.elynsgroup.com/journal/article/steps-in-the-process-of-risk-management-in-healthcare Unit Learning Outcome ULO1: Apply the steps in the risk management process to address a specific set of issues (CLO 2). Directions Initial Posting For this weeks discussion question, we will cover risk management in healthcare.