Risk Management Automation. Risk Assessment and Audits

Risk management involves the process of identification, assessment, and categorization of different types of risks keeping in mind resources for the sole purpose of minimization and control of the occurrence of unfortunate events. It is applicable in all aspects of human endeavors, including healthcare. Risk management for healthcare centers is paramount in the administration and delivery of quality services to patients. Healthcare centers must evaluate and regulate risks under the laws and regulations of jurisdictions [...]

The occurrence of risk in healthcare is almost impossible to prevent. However, with proper risk management strategies, the level and frequency of risks can be minimized to the bare minimum, which ultimately leads to the prevention or minimization of potential medical malpractice. Several tips can reduce or prevent medical malpractices. However, there is genuinely no means to prevent individuals or organizations from filing lawsuits in the case of malpractice. In the event of an actual [...]

Over the years, internal audit has become an essential aspect of modern business. In most companies, units or departments are specifically created with the sole purpose of carrying out audits of general or specific activities. Internal audit can be described as a neutral unit, department, or process within an enterprise that reviews, checks, and verifies the activities (especially financial activities) to ensure compliance with its policies, rules, and regulations. It also makes available essential information [...]

The primary function of any business or enterprise is to add value in the form of income to its shareholders. This function is realized by careful planning and execution of the set-out objectives of an enterprise. During this continuous process, different types of risk may appear, which may threaten to derail the achievement of the objectives of the enterprise. Here's what we study in this article: Advantages of ERM System Aspects of Risk Management ERM [...]

What is Risk Management Why is Risk Management Important? Strategies and Processes of Risk Management Approaches Risk Management Limitations Risk Management Standards Examples What is Risk Management Risk management can be described as the meticulous procedure of recognizing, isolating, evaluating, and regulating risks that can affect an institution’s finances or assets. Such risks can be as a result of several factors, which may include economic improbabilities, catastrophes, human errors, and other liabilities. In recent years, [...]