Stanford Releases New Risk Management Methodology

Tags: risk management | Stanford

Stanford Hospital & Clinics has released a new risk management methodology called value-driven enterprise risk management, according to a release from Stanford.

Based on the new methodology, Stanford has invested $3 million in equipment and training to support a new safe patient-handling program, and recently 30 healthcare executives spent almost three days at Stanford to learn the new approach.

This new version of risk management goes beyond the classic goal of managing downside risk and includes an upside, value creation. In addition to including values such as reductions in patient falls and employee injuries from lifting patients, the new system also values the benefits of less obvious impacts, such as pressure ulcers.

Read the Stanford Hospital & Clinics release on risk analysis.

Read more coverage of risk management:

- 14 Hospitals Receive Nearly $4.5M For Decreasing Risk Management Expenses

- West Virginia's Charleston Area Medical Center Data Breach Affected 3K Patients

- Building a Proactive External Peer Review Program & Estimating ROI: How to Get Started

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