Strategies for Effective Health Management and Risk Mitigation

Abstract

Healthcare administrators face numerous challenges in delivering care effectively while mitigating risks related to patient safety, regulatory compliance, financial stability, and operational efficiency. Risk management is crucial in addressing these challenges and is increasingly recognized as essential in healthcare organizations. This essay emphasizes the importance of risk management and provides insights into its effective implementation. A systematic review of literature on risk management and internal controls from 2017 to 2024 revealed that effective management and leadership abilities are fundamental prerequisites for successful risk management implementation. Healthcare administrators must navigate the complexities of risk management, identifying, assessing, and mitigating risks across various domains. Consolidated internal management oversight rules are essential, necessitating clear definitions and good governance concepts. These measures are essential for integrating risk management practices into healthcare organizations, enhancing patient safety, regulatory compliance, financial stability, and overall operational effectiveness.