Question

what are the ethiical guidelines for risk managers.

Answer 1

Risk management strategies or guidelines are aimed to reduce the probability of liability claims on physicians and the other medical staff and to follow the Health Insurance Portability and Accountability Act (HIPAA) standards. The primary requirements of a successful risk management include, accurate and complete documentation of the patient’s record. The necessary elements of risk management include,

• Education
• Evaluation
• Identification

The four basic functions of risk management include,

1. Risk identification
2. Claims (against the facility) management
3. Risk analysis
4. Loss of prevention or reduction

The common core principles of ethical considerations for risk managers include,

1. The principle of autonomy
2. The principle of beneficence
3. The principle of non-maleficence
4. The principle of fidelity
5. The principle of justice

There is a positive correlation between the good risk management and good ethics. As most of the risky conditions happen in the dark or when the other facilities are not available. So, one should communicate the issue openly in the organization and document the same to avoid the legal issues. Maintaining privacy, beneficence, and justice is utmost important.