Risk management is a systematic process of identifying, assessing, and reducing risk associated with patient, employee or visitor injuries, property loss or damages, and other sources of potential legal liability. Also controlling cost, enhancing reporting to management, and a better use of resources. Categories of health center risk include:
- Enterprise Risk Management (ERM) — A comprehensive risk management of the organization from the top including financial and business viability.
- Facility Management and Safety — such as loss or damage to buildings and equipment (including Risk Management Information System (RMIS)) and property, harm to staff and patients, and theft or dishonesty, emergencies internal and external, fire safety, medical equipment maintenance plan and maintenance plan for each of the utility system.
- Legal liability — such as quality of care issues, legal responsibilities of employers to employees (state workers’ compensation), liabilities related to contracts, and liabilities under which a health center can be sued for alleged injuries to patients, employees, and others.
- Regulatory — such as federal, state, and local regulations and including a corporate compliance program that satisfies the Office of the Inspector General guidelines.
- Health care provider specific risks — such as medical staff credentialing, misdiagnosis, informed consent issues, medical records, job description, and trainings.
Contract Terms to Minimize Risks: A Guidance Series for Common Health Center Agreements is a resource for health centers to use to assure agreements that reduce uncertainty, manage risks, and assure compliance with health center-related laws and regulations. The series addresses 14 common kinds of agreements and for each includes recommended terms and examples of contract language in addition to both a checklist of considerations to assure an agreement complies with FQHC laws and regulations and examples of boilerplate terms found in most binding agreements. You can either purchase individual guidance documents, depending on your needs, or a 144-page booklet with all 14 agreements. Purchase it online.
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For more information, please contact Gervean Williams, Director, Health Center Financial Training, at (301) 347-0400.