RISK MANAGEMENT

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RISK MANAGEMENT
Meeting todays challenges - A Helicopter View
Florence Padman
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As an organisation, what do we all want?

• Business Success
• Positive relationships
• Community recognition
• Service oriented
• Proactive market leaders

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RISK MANAGEMENT

• Deals with the systematic identification and
  measurement of an organisations exposure to the
  risk of loss and implementation of the most
  appropriate strategies for managing such
  exposures.

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RISK MANAGEMENT

• The objective must be to avoid losses as far as
  possible and to acknowledge and control risks.

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RISK MANAGEMENT

• In our industry the Risk Management process will
  help ensure
• Residents receive the most appropriate, cost
  effective care and services.
• A safe environment
• The organisations income and assets will be
  protected.
• Good corporate governance
• It puts you and not the risk in control
• It gets everyone thinking like risk managers.

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So what are the key elements of a Risk Management
Program?
Led by the Executive Management Team and part of
business management system.
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So what are the key elements of a Risk Management
Program?

• Led by the Executive Management Team and part of
  business management system.
• Risk Identification

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So what are the key elements of a Risk Management
Program?

• Led by the Executive Management Team and part of
  business management system.
• Risk Identification
• Risk Analysis

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So what are the key elements of a Risk Management
Program?

• Led by the Executive Management Team and part of
  business management system.
• Risk Identification
• Risk Analysis
• Risk Evaluation

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So what are the key elements of a Risk Management
Program?

• Led by the Executive Management Team and part of
  business management system.
• Risk Identification
• Risk Analysis
• Risk Evaluation
• Risk Treatment

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So what are the key elements of a Risk Management
Program?

• Led by the Executive Management Team and part of
  business management system.
• Risk Identification
• Risk Analysis
• Risk Evaluation
• Risk Treatment
• Monitoring and Review

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Identifying Risks

• Clinical risks
• Resident falls / near misses
• OHS issues
• Infections
• Medication and clinical incidents
• Law suits
• Inadequate documentation - duty of care, RCS

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Identifying Risks

• Non Clinical risks
• Human Resource / Industrial Relations issues
• Financial Risk
• WorkCover / Public Liability
• Complaints
• Theft/ Misappropriation or criminal act
• Bomb threat, fire, flood or other disaster
• Adverse publicity

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Managing Risks

• Avoid any exposure
• Determine maximum uninsured loss.
• Transfer the risk
• Control the loss

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Managing Risks

• Select the most appropriate insurance
• Rate the frequency and severity of potential loss
• Consider the Risk that can bring you to your
  knees

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Objectives Post-loss

• Survival of the Organisation
• Continue to operate without compromising quality
• Maintain earnings
• Maintain growth
• Meet obligations as a service provider

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Complaints Management

• What happens when someone complains?
• Use of time and resources
• Creates anxiety and dissatisfaction
• Involvement of Department and Agency
• Media attention
• Affects staff morale
• Mediation
• Adds costs
• Creates culture of negativity

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Avoiding complaints

• Recognise right to complain
• Culture of Partners in Care
• Actively seek feedback regularly and routinely /
  be ready to listen
• Be committed to address complaints, promptly
• Treat every complaint as an Opportunity to
  Improve
• Have a well defined complaints management process
• Maintain confidentiality
• Have well trained staff
• Use complaints data to continuously improve

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Positive relationships
Conflict Resolution
Shared Responsibility
Social Interaction
Partners in Care
Good communication
Liaison Person
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Managing risks

• Audit and gap analysis
• Resident / Staff feedback/ Data analysis
• Training needs analysis / Education
• Culture, communication, teamwork, leadership
• Vision, Mission, Values
• Duty of care / Accreditation standards
• Comprehensive plan

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Managing risks

• Good clinical care
• Planned program of admission and staff employment
• Appropriate allocation of responsibilities
• Liaison with local General Practitioners
• Provision of appropriate resources

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Managing risks

• Effective human resource management
• Participation in RN re-entry course
• Preceptor training
• Strategy review
• Certificate II and III trainee-ships / Other
  workforce initiatives
• Sharing of expertise and resources

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Managing risks

• In-house education / staff training
• Credentialling of ENs and PCWs and recognition
  of skills
• Contingency plans
• Implementing Unit Dose 7 Webster System
• Delegation of non-clinical duties
• Team leader responsibilities
• Train the trainer programs
• Regular evaluations

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Competitive strength
Benchmark
Shared expertise
Reduce risks
Economies of scale
Network / clusters
Shared resources
Innovation and creativity
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Industry, Peak body support
Career paths
Retention strategies
Multi site supervision
Enhanced skills
Government pressure
Flexible workpractices
Delegation of responsibilities
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Pericles (c. 495 - 429 BC) Athenian statesman

• The bravest are surely those who have the
  clearest vision of what is before them, glory and
  danger alike, and yet notwithstanding, go out and
  meet it.