Quality in Pharmacy

__________________ - The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.

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__________________ - The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.

risk management

Risk management steps:

1. establish
2. ID/analyze
3. prioritize/evaluate
4. select
5. monitor

________________- Not offering a good or service with an unreasonable risk.

Techniques to manage risks:

-risk avoidance
-risk prevention/modification
-risk absorption/retention
-risk sharing

Techniques to manage risks:

-Taking steps to minimize the likelihood of risk. (i.e. best practices to reduce medication errors)

risk prevention/modification

Techniques to manage risks:

-Accepting or absorbing a risk as part of the business (i.e. losses due to shrinkage are absorbed by profit on other products)

risk absorption/retention

Type of Pharmacy insurance:

-Protects physical assets

property insurance

Type of Pharmacy insurance:

-negligence of business or employees

Type of Pharmacy insurance:

-bundled property and liability for < 100 employees

business owner's policy

Type of Pharmacy insurance:

-individual

professional liability