Question

1. List the 6 categories of risk exposure for an office practice.
2. Describe the steps involved in assessing the risk exposure to your practice and developing a risk management plan.
3. What can your practice do to decrease the risk of using an online appointment system which patients access and make their own appointment?
4. Why would one of your providers want to terminate a patient-provider relationship?  What conditions should you ensure are in place before the physician takes this step?
5. How can you, the practice manager, decreased the risk exposure from complaints and grievances?
6. What administrative processes/steps should be in place to decrease the rick exposure of referring patients out for evaluation and treatment?
7. When developing written communications about your office practice, your policies and procedures etc what should you keep in mind?
8. What is Protected Health Information?
9. List 5 procedures or policies that you should be sure your practice has in place to reduce and control loss?
10. What are the 4 primary functions of medical documentation?
11. What is the proper way to make corrections in a medical record?
12. What are some actions you can take to ensure that your practice is safe for both patients and staff; and that your property and facilities exposure to risk is decreased?
13. What steps can you take to make your practice more safe in the case of a fire?
14. What is the importance of the following statutes and regulations to your group practice?
    1. False Claims Act
    2. Ethics in patient Referral Act
    3. Safe Medical Devices Act
    4. Medicare-Medicaid Antikickback Statute
    5. HIPAA
    6. Title XIII of the Federal Health Information Technology for Economic and Clinical Health
    7. Protection of Human Research Subjects regulations
15. What are some areas/services that a group practice may outsource or contract for?
16. What are some important responsibilities which you want to ensure your vendor takes on so that risk is transferred to the vendor and not your practice?

Answer 1

The 6 categories of risk exposure for office practice are:

1) Operational risk: This is the risk associated with the day-to-day operations of the organization. It is caused when there is a breakdown in daily operations which may be due to technical reasons or HR reasons.

2) Strategic risk: This is the risk that occurs when the organization's strategy in the current market becomes outdated.

3) Financial risk: Financial risk refers to the inflow and outflow of money in the organization with the possibility of financial loss.

4) Compliance risk: Compliance risk is the risk occurring due to the failure of complying with regulatory guidelines of the land.

5) Reputational risk: Reputation risk is the risk associated with loss of reputation of an organization. This may be due to inferior customer service or the products not meeting people's expectations.

6) Competitive Risk: Competitive risk is the risk due to competitors taking over the market from the organization.