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SUBSCRIBE TODAY! See the subscription card on the cover of this issue, or visit IHDelivery.com. Primary Care Home Care Hospice/ Palliative Ca re Behavioral Health Skilled Nursing EMS/ MIH Pharma Rehab/PT Services Acute Care IHI Triple Aim: Improved experience Improved health Reduced cost The way we deliver healthcare outside of the hospital is rapidly changing. Forward thinking practitioners are collaborating with other providers to improve the patient experience while decreasing costs. Subscribe to Integrated Healthcare Delivery, and find out how your peers are already improving outcomes with greater efficiency. Learn how to thrive in the New Integrated Healthcare Paradigm solutions to monitor patients and act early to prevent read- missions. You'd monitor feed- back data from partners and patients with an eye toward patient compliance. 5. Restart the Process —When risks escalate or new risks are identified through monitor- ing, restart the process from the beginning. If, say, short- ages of critical CHF medica- tions occur, and patients and caregivers face difficulties in obtaining first-choice medica- tions to treat chronic CHF to prevent readmissions, you have a new risk to deal with. Conclusion There are as many different types of strategies for managing risk as there are types of risks. Most healthcare organizations have at least some form of a risk-management plan in place, even if it is not comprehensive or formal. Risk, whatever its nature, can be managed by evaluating its consequences, planning for it and taking steps to mitigate it in advance. Another option is that the risk can be transferred to another party through the means of insurance or indemnification. The most important things any business, especially a healthcare organization, can do to manage and mitigate risk are to develop, implement and maintain a responsible and solid risk-management plan; actively monitor risks to stay ahead of the curve; and employ a risk manager to assist with risk identification and ongoing monitoring. This article only scratches the surface of risk-management best practices and is not intended as legal advice. Be sure to consult with an attorney or risk-management specialist to review your orga- nization's needs and obtain appropriate counsel. 25 www.ihdelivery.com July 2014 Integrated Healthcare Delivery The ECRI Institute offers its Sample Risk Management Plan for a Community Health Center Patient Safety and Risk Management Program at http://bphc.hrsa.gov/ftca/ riskmanagement/riskmgmtplan.pdf . IHD_23-25_LegalScene0714.indd 25 6/13/14 11:25 AM