Evaluating the Influence of Regulatory Compliance on Operational Risks in Healthcare

Michael Adedayo ()

International Journal of Modern Risk Management, 2023, vol. 1, issue 1, 12 - 22

Abstract: Purpose: The aim of the study was to investigate evaluating the influence of regulatory compliance on operational risks in healthcare. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: The findings indicated a significant inverse correlation between the level of regulatory compliance and the occurrence of operational risks. The study revealed that healthcare organizations that adhered more closely to regulatory standards experienced fewer instances of operational risks, such as medical errors and data breaches. Unique Contribution to Theory, Practice and Policy: Agency Theory, Institutional Theory and Resource Dependence Theory may be used to anchor future studies on evaluating the influence of regulatory compliance on operational risks in healthcare. Stakeholders should engage in ongoing risk assessments and scenario planning to anticipate potential operational vulnerabilities arising from non-compliance with regulatory requirements. . Policymakers should consider establishing incentives for healthcare institutions that proactively invest in comprehensive compliance programs that go beyond the minimum requirements, recognizing the positive correlation between robust compliance practices and reduced operational risks.

Date: 2023
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