Revenue Cycle

Six approaches to effective risk management

Strategies for Health Care Compliance, January 1, 2013

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There are six generic approaches to managing risk, and the approach an organization chooses to use will depend on many ­factors. For example, how real is this risk? Can it actually become a problem, or is it merely theoretical? Management will want to decide whether the risk is likely to happen and whether it is possible to determine when it may happen. This will also assist in ­appropriate allocation of resources to focus on material risk areas.

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