Risk management is a key function of best management practice, at the strategic and operational levels of your practice.
Current best practice for risk management is the implementation of a practice wide risk model.
This model integrates risk management across all aspects of your practice accountabilities and responsibilities, such as planning, funding, purchasing, project management, health and safety and service delivery.
It includes clinical and non-clinical risk management.
Risk management is integral to good governance and will require regular risk reporting to your practice executive management team and/or board of directors.
The risk management process is also closely related to the incident reporting and complaints processes, which may indicate new or emerging risks. Your risk management framework will provide a consistent and systematic process for managing risks.
The risk management process will help to achieve better patient outcomes, support decision making in an area of high exposure and provide ongoing assurance on the quality of services provided.
Developing a practices risk register is a systematic process that involves identifying, assessing, and managing risks associated with patient care and organisational operations.
Development is an ongoing process that requires collaboration, communication and commitment from across the practice.
A well-structured risk register helps practices proactively address potential issues that could impact business sustainability and continuity, patient safety, quality of care, and compliance with regulations.
Below is a step-by-step guide on how to develop a risk register.
Purpose: Clarify why the risk register is being developed (e.g., to manage business risk, to enhance patient safety, improve quality of care, comply with regulations).
Scope: Determine the areas to be covered (e.g., clinical services, operational processes, financial risks).
Policies and procedures: Create or review existing policies and procedures for risk management.
Roles and responsibilities: Define the roles of individuals involved in risk management, including who will maintain the risk register, assess risks, and implement mitigation strategies.
Data sources: Use various sources to identify potential risks, including:
Brainstorming sessions: Conduct workshops or meetings with staff across the practice to gather insights on potential risks.
Risk assessment criteria: Develop criteria for assessing the likelihood and impact of identified risks.
Common methods
Risk register template: Create a standardised template for the risk register that includes the following columns.
Action plans: For each identified risk, develop specific action plans to mitigate the risk.
This may include:
Implementation: Ensure that the identified mitigation strategies are put into action.
Communication: Share the risk register with relevant stakeholders, including clinical and administrative staff, to promote awareness and engagement in risk management.
Regular reviews: Establish a schedule for regularly reviewing and updating the risk register (e.g., quarterly, biannually).
Monitoring: Continuously monitor the effectiveness of mitigation strategies and make adjustments as necessary.
Reporting: Provide regular reports to leadership and governance committees on the status of risks and mitigation efforts.
Encourage reporting: Create an environment where staff feel comfortable reporting risks and incidents without fear of retribution.
Training and education: Provide ongoing training on risk management principles and practices to all staff members.
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