Create a 2–3-page internal memo for a risk-management team. Summarize a risk financing issue for a selected organization in the memo. (Kaiser Permanente)
Assessment 2 Context
Risk Financing Risk management entails prevention of adverse consequences and minimization of negative effects from accidental loss. Risk financing refers to reducing the financial impact of risk, as well as determining the best approach, from a financial standpoint to handling adverse situations. Risk financing means looking at the operations of the organization as well as determining what financial preparation is needed to ensure a minimal financial loss. Concepts such as risk pooling, purchasing insurance, and taking risk reduction measures are key to financial preparation in risk management. Risk financing may include all aspects of both legal protection and compliance with government regulations. It is important to note that many health care organizations have legal obligations to carry liability insurance under either their accreditation or license type as a means of financial loss protection. Some key concepts relating to risk financing include: 1. Identifying and managing a risk financing issue. 2. Examining issues related to risk
• Concisely describe the issue and the organization.
• Summarize the legal and ethical financial risk obligations of an ACO.
• Describe how you would identify and manage risk financing issues within this organization. Support your choice of strategies with relevant resources.
• Recommend two or three of the best options for risk financing for this issue, as it relates to the organization in question.