URGENT 7 PM DEADLINE Risk Management Chart

Risk Area

Level of Risk

Strategy (Assume, Mitigate, or Transfer)

Medical Errors

High

Medical errors includes wrong dosage, deaths of patients due to poor handling or treatment as well as using wrong method of treating patients that lead to another medical conditions (Highland Risk Services, 2014). The medical errors cannot be mitigated by ensuring that error made by personnel is reduced. It entail employing competent personnel in the healthcare facilities.

Board Composition

Low

The composition of the Board matters since they help to over the operations of the organizations. Therefore, the composition should have personnel from other related industries to help make multi-disciplinary decisions (Sullivan, 2013). Therefore, the risk can be transferred by selecting a competent and qualified board.

Transportation- shortage of ambulances and other emergency vehicles

High

Transportation is cornerstone of the healthcare facilities as it can be a life saver. Therefore, the risks of shortage of emergency vehicles like ambulance should be mitigated as soon as possible to avoid deaths of patients caused by lack of transportations (Sullivan, 2013). Therefore, the strategy would be to mitigate it by buying or leasing enough vehicles for any emergency purposes.

High Inflation Rate

High

Health care facilities are expected to deliver health services regardless of the cost. The norm makes health care services to have high expenses that might outweigh the revenue (Highland Risk Services, 2014). The risk can be transferred by ensuring that there is sufficient revenue from patients, services, grants and donors.