EARLY WARNING SYSTEM FRAMEWORK FOR FINANCIAL RISK EVENT IN HOSPITALS

Ioana-Alexandra Bradea and Camelia Delcea ()

Studii si Cercetari de Calcul Economic si Cibernetica Economica Description: This is the official journal of the Journal Studii si Cercetari de Calcul Economic si Cibernetica Economica, 2015, vol. 1-2, 23-33

Abstract: Risk management in hospitals focuses on providing certainty in an uncertain environment by creating a new order out of chaos. The risk event in a health care institution has a negative impact on the safety and wellbeing of patients and medical staff and a strong impact on its financial condition, affecting its performance. Implementing an early warning system alerts the management about the risk emergence and allows continuous monitoring of key risk indicators established by risk managers. This paper designs a framework of such a system, which functions as a user interface for reporting changes in trend indicators and facilitates the decision making.

Keywords: risk management; hospital; key risk indicators; financial performance; Dashboard (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:aes:sccece:v:1-2:y:2015:i::p:23-33

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