Risk Management Policy (NHS) Essay Example | Topics and Well Written Essays - 500 words

Risk Management Policy (NHS) - Essay Example This industry is susceptible to many types of risk. For example three percent of America’s $1.7 trillion annual healthcare expenditure is lost due to fraud and over charging (Lexisnexis, 2007). This paper analyzes the risk management policy of a company in the healthcare industry called NHS Greater Glasgow. The focus of the analysis is on the impact of the risk management policy on the managerial team and regular staff of employees. Risk management is taken very seriously at NHS Greater Glasgow. For this company the risk management function is an effort that is accomplished by the cooperation of all the employees working for the firm. The current risk management policy in place in this company was establish in 2005 after the policy underwent a rigorous evaluation process that obtain input from a lot of decision makers in this enterprise working in different division of the company dispersed across the entire country. The application of the policy involves both the regular staff and the managerial staff. The workers in this company were trained in the risk management policy of the company. The function of the non-managerial staff is to actively report incidents and accidents of occurrences, near misses and to make recommendations on how to improve the internal system of the unit they work for. The company has a corporate culture that encourages participation from all employees and any feedback from any member of the organization is analyzed to make continuous improvement of the system. The functions of the managerial staff regarding the application of its risk management policy are: managing risk, performance monitoring, gathering accurate risk information, incorporating effective communication systems and promoting continuous improvements. At the executive managerial level the staff keeps close relationships with its partners and uses a philosophy of mutual cooperation in order to