risk management - gilmore

what is risk?

anything that threatens the ability of a person or organization to accomplish its mission

which type of risk is this:

involves a chance of gain/benefit as well as loss

a. speculative

b. pure

a.

which type of risk is this:

only an opportunity of sustaining a loss

a. speculative

b. pure

b.

________ is a way to help manage risk

insurance

list the steps in the risk management process

1. establish contex

2. identify and analyze risks

3. evaluate and prioritize risks

4. select an appropriate risk management strategy and implement the technique

5. monitor decisions and update the risk management program

list techniques to manage risks

1. risk avoidance

2. risk prevention/modificaion

3. risk absorption/retention

4. risk sharing or transfer

what techniques to manage risks can be used as a combination? (SATA)

a. risk avoidance

b. risk prevention/modification

c. risk absorption/retention

d. risk sharing or transfer

b. c. d.

______ insurance protects the property and physical assets

a. property

b. liability

c. business owner’s policy

a.

_______ insurance protects against claims when it is sued for damages or injuries caused by negligence of the business or its employees

a. property

b. liability

c. business owner’s policy

b.

_________ is a bundle of property and liability insurance for small business owners (< 100 employees)

business owner’s policy

_______ protects individual against claims emanating from actual or alleged errors of omissions, including negligence, in the course of professional duties or activities

a. individual professional liability insurance

b. key person insurance

c. umbrella or excess liability

d. worker’s compensation

a.

______ protects a business entity from financial loss if key individuals were to die or experience a disability

a. individual professional liability insurance

b. key person insurance

c. umbrella or excess liability

d. worker’s compensation

b.

________ covers the difference between the base liability limits and the judgment amount

a. individual professional liability insurance

b. key person insurance

c. umbrella or excess liability

d. worker’s compensation

c.

________ covers medical expenses, disability income, and death benefits to dependents of an employee whose accident, illness, or death is job-related

a. individual professional liability insurance

b. key person insurance

c. umbrella or excess liability

d. worker’s compensation

d.

______ insurance provides income for an employee and his or her family in the event something happens that prevents the employee from working

a. disability

b. independent pharmacy

a.

_______ insurance is specialty insurance for pharmacies; can be molded to specific insurance needs of the pharmacy and/or its specialty services

a. individual professional liability insurance

b. key person insurance

c. independent pharmacy insurance

c.

list risks associated with pharmacy

OBRA 90 (drug reviews)

HIPAA 1996

information technology

electronic medical records

e-scribing

______ approach doesn’t divide events into causes and outcomes; probability is assigned to EACH possible relationship whose development is undesirable

a. quantitative

b. qualitative

a.

______ approach provides a better understanding of risks in terms of both cause and outcome; identification of causes and predictions of outcomes is better; identification of outcomes and predicting causes to minimize risk is harder

a. quantitative

b. qualitative

b.

T/F research shows that injuries are generally the fault of the individual health care professional

FALSE — represent a failure in the COMPLEX HEALTH CARE SYSTEM; NOT the INDIVIDUAL’S FAULT