From: Risk Management Team from Rochester General Hospital

From: John Smith

CC: Professor Mary Bracker

Date: July 21, 2021

RE -EVALUATION 2 – Risk financing

Edition of patient safety

MHA FPX 5014 Assessment 2 Rochett General Hospital (RGH), Rochett is part of regional health, the quality is recognized for health services, and serves a magnet position for skill. However, in order to maintain your progress and achieve organizational goals, it is important to address a high frequency of drug errors through risk financing. These errors not only compromise patient safety, but also provide a significant financial risk to RGH. The evaluation of RGH’s spring 2021 Hospital degree highlights the severity of the problem. The results in the Drug Administration Cathedral are specifically related, as described below (Hospital Safety Grade, 2021): Mt Best Hospital Score 100 RGH Score 45 The Worre Hospital Score 5

Patient Safety Risk and Key Performance Indicators 

The drug errors are an important cause of the patient’s loss and financial losses in health services worldwide (Hitham, 2016). The use of inappropriate drug or patient injuries during the health care system’s professional control (AMCP, 2019) can cause any prevention, which can cause any prevention, these errors may occur during orders, transcription, dispensation, administration or monitoring steps (Durham, 2016). Given the dynamic nature of the health care system, with its developed rules, guidelines, technologies and guidelines, meets drug errors both clinical and economic risk for RGH. Risk financing is necessary to identify the potential costs of these risks and assess the organization’s ability to manage them (Rhinhart, 2021). Research indicates that the US health care system is about $ 3 billion annually (AMCP, 2019). To address this, RGH’s risk management team will appoint large performance indicators (CPI) and performance dashboards to monitor and reduce the risk associated with the Drug Administration. KPI includes: CPI details CPO tracking of electronic prescriptions using the use of the prescribed medication using two identifiers percentage percentage of patients, ensuring the number of patients’ verification accuracy, which monitors the unfavorable/waking incidents related to the medications due to medication.

Strategies to Identify Risk 

MHA FPX 5014 Assessment 2 The risk of financing issues includes the financial capacity of RGH and the organization’s desire to manage the risk, in accordance with strategic values (Harvard University, ND) in the organization. Important strategies include identification, acceptance and management of risks (actual editorial, 2020). Identification of risks involves examining procedures or incidents that may damage patients and cause financial loss. For example, drug errors may lead to extended hospital stays, increase in resource use, reduction in reimbursement and financial loss (Chain, 2017). Handling risks forcing collection data, reviewing information and developing strategies to reduce the incidence of these risks (NEJM Catalyst, 2018). Benchmarking can then be used to measure progress in risk reduction and financial results (Institute for Safe Medicine Practice, 2005).

Recommendations for Risk Financing 

To reduce pharmaceutical errors in RGH, the following strategies are recommended:

• Computer -controlled medical orders (CPOE) with clinical decision support (CDS)

• The BCMA system (BARD CODE DRUG ADMINATION

• Confidential incident reporting of implementation technologies such as CPOE and CDS have been shown to reduce the medication error frequency from 55% (Durham, 2016). These systems direct health professionals on drug doses, squares and frequencies, and provide an alert for allergies or interactions (Shah, 2016). The BCMA system ensures five rights to drug administration (correct patient, dose, medicine, time and route) and generates real -time alert (Shah, 2016). Reporting confidential incident will help collect data on drug errors, which will enable the development of strategies to improve the patient’s safety. A security culture will be promoted, misreporting will be encouraged without fear of results, and provides valuable insights to risk managers (Rodziewicz, 2021).

Legal and Ethical Financial Risk 

The duty as a responsible care organization (ACO), RGH must effectively manage legal and financial risks to remain profitable and successful (NAACOS, N.D.; LAPOINTE, 2016). The purpose of ACO is to provide high quality coordinated care while reducing costs and preventing medical errors (CMS, 2021). Compliance with CMS guidelines, which reduce or prevent reimbursement for preventive errors, are necessary (National Conference of State Legislative Assembly, N.D.). By following guidelines for secure drug and joint commission (TJC), RGH can improve the patient’s safety and maximize CMS reimbursement.

References

AMCP. (2019, July 18). Drug error. The Academy of Manade Care was picked up from pharmacies: https://www.amcp.org/about/managed-preier-fharly-101/konpter- Naged- Care-Pharmacy/Medication-Ed (2017, August). Cost -saving effects and the prevention of drug defects in clinical pharmacist intervention in a nephrology unit. Takes from medicine; LWW magazines: https://journals.lww.com/md-journal/fulltext/2017/08250/the_cost_Saving_effect_and_and_Preven_of.40.40.40.40.40.40.saspx cms. (2021, March 4). Accountable Care Organization (ACOS). Retrieved from the Centers of Medicare and Medicaid Services: https://www.cms.gov/