NAHQ CPHQ Practice Exam

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Which of the following is the primary goal of risk management?

Eliminate financial loss associated with legal actions
Identify and manage risks to promote patient safety
Maintain an effective incident reporting system
Perform failure mode and effects analyses

The correct answer is: Eliminate financial loss associated with legal actions

The primary goal of risk management is to eliminate or minimize financial loss associated with legal actions. While patient safety is a crucial aspect of risk management, the primary focus is often on mitigating financial risks for the healthcare organization due to potential legal actions. Effectively managing risks can help prevent costly litigations, penalties, and settlements, ultimately safeguarding the financial stability of the organization.