In an attempt to reduce prospective losses, healthcare service providers recruit healthcare risk management specialists to keep track of risks and manage risks and responsibilities. Risk management professionals work to make sure that patients and employees are safe, mitigate risks, respond to claims of clinical negligence, address complaints, and act in accordance with national and state guidelines. While their main job function is to protect the hospitals interests, risk management professionals also contribute substantially to the quality of patient care.
Functions of a Healthcare Risk Management Professional
Health care risk management professionals coordinate the procedures involved in dealing with general responsibility and risk exposures for a medical center or a healthcare facility. They are generally liable for managing and directing a medical centers quality assurance programs, which include healthcare staff peer reviews, individual care systems advancements, quality enhancement attempts and regulatory conformity.
Other duties in which Health Risk Management Professionals are engaged are:
- Investigate patient issues and medical negligence claims.
- Evaluate medical records for liability concerns.
- Perform risk-management training programs for other staff members.
- Analyze financial and other data for instances of scam or theft.
- Handle lawsuits and act as a contact for liability claims.
Skills Required to become a Healthcare Risk Management Professional
Companies hire applicants with comprehensive medical understanding and risk management experience. Some companies hire freshers who have gone through proper training in risk management. Risk management professional should also be well versed with all state and federal compliance regulations and specifications. Other requirements needed for this position include:
- Good verbal and written communication skills
- Expertise in planning, coordinating and applying patient and employees safety procedures
- Good wisdom and decision-making capabilities
- Excellent interpersonal, organizational and customer service abilities
- Capability to work individually and as part of a team
- Interest in ongoing learning and a dedication to staying informed on regulatory modifications
- Talent for leading and assisting group and team conferences
- Comfort in dealing with complicated situations that may involve adverse outcomes
Education and Training in Healthcare Risk Management
Companies hire people who have bachelor degree in health care related area, some companies prefer job seekers to hold a post graduate degree. Training in healthcare risk management is an advantage for individuals who want to enter this profession.
Job Opportunities in Healthcare Risk Management
In the 2011-12 Edition of the Occupational Outlook Handbook, the U.S. Bureau of Labour Statistics rightly forecasted that the career of healthcare services professionals would grow quicker than the average for all professions. As healthcare providers try to recognize and mitigate liabilities, and maintain regulatory compliance, requirement for qualified risk professionals will always stay high.
Pay Scale for Entry Level Position in Healthcare Risk Management
| Country Name | Salary/Per Annum | Currency |
| U.S. | 65-75k | USD |
| Australia | 50-70k | AUD |
| Europe | 50k | Euro |
| Singapore | 60-70k | SGD |
| India | 200-300k | INR |
