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Risk Management, 4. The Risk Management Process (Steps), Incident Reports…
Risk Management
1.Definitions
Risk Management: Identifying, evaluating, and prioritizing risks to minimize or control the impact of unfortunate events.
Hazards vs. Risk: A hazard is anything with potential to cause harm; risk is the probability that loss will occur due to that hazard.
Threat vs. Risk: A threat is a potential source of harm (like a person or event); risk quantifies the likelihood and impact of that threat occurring.
2. Benefits & Principles
Benefits
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Stability: Ensures financial stability, regulatory compliance, and maintains public trust.
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Key Principles
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It should be systematic, transparent, and based on the best available information.
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Incident Reports (IR): Used to analyze the frequency and causes of these occurrences with the five categories .
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Adverse Event: an undesirable experience or complication associated with the use of a medical product, intervention, or therapy.
Reportable Incident: Any unexpected or unplanned occurrence that affects, or has the potential to affect, a patient, family member, or staff member.
Environmental & Safety: Health/safety of workers (e.g., natural disasters).
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