component to reduce or prevent errors but improving overall healthcare quality. Hospitals and other healthcare organizations are expected for high reliability, which consists of expectations and standards for minimizing adverse events. To achieve this commitment to safety from caregivers and providers, this requires acknowledging the services and improving the systems. The ERM becomes the means of helping organizations focus on crisis response and evaluating risks in business strategies. This process could be implemented as a risk assessment of the enterprise
Enterprise Risk Management 5 management process. Based on findings by implementing issues that were identified, by risk grouping, it defines various approaches due to such as diligence and the system analysis, which offer a wide range of decision support tools to management. With this approach, organizations could avoid errors by using the enterprise risk management process for continuous assessment and monitoring. Changes in operations and technology have contributed to no small risk environment. The ERM is the glue that holds the organization together and contributes long-term profitable and sustainable growth. Therefore, effective risk management is needed to be both hands-on and implanted within the culture of the organization. The ERM is the framework that offers a structured approach to risk management, which makes the organization to have an impact on assessment processes and develop solutions. References
Enterprise Risk Management 6 COSO’s Enterprise Risk Management – Integrated Framework ERM Enterprise Risk Management Initiative North Carolina State Poole College of Management. (2004, September 1). Retrieved from Development of an enterprise risk inventory for healthcare. (n.d.). Retrieved from Enterprise risk management: An empirical analysis of factors associated with the extent of implementation. (n.d.). Retrieved from Potential Risk & Quality Management Issues & How They May Affect the Healthcare Industry. (n.d.). Retrieved from - may-affect-healthcare-industry-25601.html
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