Assessing quality of hospital risk management services

Risk management and finance: the link

The benefits of the risk management (RM) department of a healthcare organization often are intangible. Perhaps that is why it is difficult for the finance department to understand the need for RM. But while it is difficult for finance personnel to understand the advantages of RM, strong communication between the two departments can be beneficial to the entire organization. This communication can be strengthened in large part by educating each department on the language of the other. It also is necessary to review the effectiveness of RM constantly and to provide results in terms that both senior management and finance personnel can understand.