Healthcare Risk Management Research Articles

Forecasting Patient Early Readmission from Irish Hospital Discharge Records Using Conventional Machine Learning Models

Background/Objectives: Predicting patient readmission is an important task for healthcare risk management, as it can help prevent adverse events, reduce costs, and improve patient outcomes. In this paper, we compare various conventional machine learning models and deep learning models on a multimodal dataset of electronic discharge records from an Irish acute hospital. Methods: We evaluate the effectiveness of several widely used machine learning models that leverage patient demographics, historical hospitalization records, and clinical diagnosis codes to forecast future clinical risks. Our work focuses on addressing two key challenges in the medical fields, data imbalance and the variety of data types, in order to boost the performance of machine learning algorithms. Furthermore, we also employ SHapley Additive Explanations (SHAP) value visualization to interpret the model predictions and identify both the key data features and disease codes associated with readmission risks, identifying a specific set of diagnosis codes that are significant predictors of readmission within 30 days. Results: Through extensive benchmarking and the application of a variety of feature engineering techniques, we successfully improved the area under the curve (AUROC) score from 0.628 to 0.7 across our models on the test dataset. We also revealed that specific diagnoses, including cancer, COPD, and certain social factors, are significant predictors of 30-day readmission risk. Conversely, bacterial carrier status appeared to have minimal impact due to lower case frequencies. Conclusions: Our study demonstrates how we effectively utilize routinely collected hospital data to forecast patient readmission through the use of conventional machine learning while applying explainable AI techniques to explore the correlation between data features and patient readmission rate.

Identifying influential individuals and predicting future demand of chronic kidney disease patients

ABSTRACTTo ensure high service quality, managers need to personalize treatment options and meet their customer demands. Our research is motivated by the need to better anticipate and prepare for that. We develop a generalizable framework that is the first to address two healthcare risk management goals: (1) identifying high risk and stable‐demand customers and (2) predicting the medium‐term demand for services of stable‐demand customers. We also design a model‐agnostic method for variable evaluation. It can rank predictors based on their global impact, and highlight their effect on a model's local accuracy. In this research, we leverage a large electronic medical records' data set, which comprised of 48,344 chronic kidney disease patients treated across geographically diverse Veterans Affairs regions. Our framework indicates that although only 1.3% of the examined individuals are high‐risk patients, it can correctly identify 35% of them and highlight an additional 8.9% as having important demand implications. Identifying high‐risk individuals can be used in (1) monitoring prioritization, (2) patients' motivation, and (3) patients' stabilization. Furthermore, our model accurately predicts the monthly need for care of stable‐demand individuals up to 3 years into the future and outperforms popular statistical and data mining models. This information is especially critical for hospital management in identifying future hiring needs.

Regulatory Compliance and Risk Management in Pharmaceuticals and Healthcare

Purpose: This study aims to examine the evolving regulatory landscape and its impact on compliance and risk management within the pharmaceutical and healthcare industries. It seeks to identify effective strategies for maintaining data integrity and traceability in accelerated pharmaceutical development (APD), and to understand how these strategies improve patient care and healthcare system responsiveness. Methodology: The research involves a comprehensive review of current regulations, emerging trends, and industry practices. It utilizes an analysis of regulatory updates, risk management frameworks, and case studies to illustrate successful compliance strategies and the challenges faced by organizations. Findings: The study highlights key regulatory requirements, identifies common risks and mitigation strategies, and provides insights into effective practices for ensuring data integrity and traceability. It demonstrates that robust compliance and risk management practices contribute to enhanced patient outcomes and improved healthcare system efficiency. Unique Contribution to Theory, Policy, and Practice: This research offers a detailed examination of the intersection between regulatory compliance and risk management, providing a valuable framework for understanding and addressing the complexities of the pharmaceutical and healthcare sectors. It contributes to theory by integrating recent regulatory changes with practical risk management approaches, informs policy by highlighting critical areas for regulatory focus, and offers actionable recommendations for industry practitioners to optimize compliance and data management processes.

Enhancing patient safety using failure mode and effect criticality analysis: a benchmarking study on selected hospitals

PurposePatient safety is a top priority globally. A robust healthcare system requires strategic collaboration between research and development. The author analysed over 300 cases from seven hospitals using the failure modes, effects, and criticality analysis (FMECA) tool to understand the underlying causes of medical errors.Design/methodology/approachThe author studied seven hospitals and 300 cases using FMECA to prioritise activities. The findings showed that high-priority events occurred less frequently but had the potential to cause the most harm. Team members evaluated independently to ensure unbiased evaluations. This approach is useful for setting priorities or assessing difficulties.FindingsPoor communication and lack of coordination among staff in a healthcare organisation caused misunderstandings, ineffective decision-making, delays in patient care, and medical errors. Implementation of effective communication and coordination protocols can help avoid these problems.Practical implicationsThe study recommends using FMECA to identify and prioritise failures and conducting in-depth analyses to understand their root causes. It also highlights the importance of interdisciplinary knowledge and soft skills for healthcare staff.Originality/valueThis study reveals the significance of FMECA in healthcare risk management and benchmarking. FMECA helps identify system failures, develop prevention strategies, and evaluate effectiveness against industry benchmarks. It offers healthcare professionals a valuable tool to enhance patient safety and improve healthcare quality.

Financial Risk Management in Healthcare in the Provision of High-Tech Medical Assistance for Sustainable Development: Evidence from Russia

The research determines the level of financial risk in the Russian healthcare system and identifies prospects for improving the current Russian practice of financial risk management in healthcare when providing high-tech medical care for sustainable development (using Russia as an example). The author summarizes the advanced experience of the top 20 largest healthcare organizations in Russia by revenue in 2022. Based on this experience, the author developed an SEM model of the financial risks in healthcare during the provision of high-tech medical care in Russia from a sustainable development perspective. The theoretical significance of the developed model lies in uncovering the previously unknown causal relationships between the implementation of the ICT, sustainable development support, and financial risks in healthcare. The model reveals a new market dimension of financial risks for healthcare organizations in Russia. The main conclusion is that implementing the ICT and support for sustainable development helps to reduce the financial risks in healthcare. The identified potential for reducing financial risks in providing high-tech medical care in Russia until 2026 is practically significant. This prospect can be practically applied as a roadmap for the digital modernization and sustainable development of healthcare until 2026, enhancing the state healthcare policy in Russia. The established systemic relationship between ICT implementation, sustainable development support, and financial risks in healthcare is of managerial importance because it will increase the predictability of the financial risks in the market dimension of healthcare in Russia. The newly developed approach to risk management in healthcare during the provision of high-tech medical care in Russia has expanded the instrumental framework of risk management for healthcare organizations in Russia and revealed further opportunities for improving its efficiency.

Patient safety reporting and learning system of Catalonia (SNiSP Cat): a health policy initiative to enhance culture, leadership and professional engagement

Patient safety reporting and learning systems (PSRLS) are tools to promote patient safety culture in healthcare organisations (HCO). Many PRSLS are locally developed. WHO Global Action Plan on Patient Safety...

Leveraging advanced technologies in Supply Chain Risk Management (SCRM) to mitigate healthcare disruptions: A comprehensive review

The Healthcare sector is undeniably one of the most critical sectors in any given economy and disruptions in this industry have dire consequences that affect patient care, the efficiency of healthcare systems and by far public health. This publication seeks to analyze and discuss the vital role of supply chain risk management in addressing disruptions, becoming resilient and ensuring that healthcare services function effectively. The pandemic (COVID-19) brought to fore just how critical it is to have a robust and agile system for supply chain risk management in healthcare, the sudden and unprecedented surge in demand for essential medical equipment like personal protective equipment (PPE) left millions of people at risk thereby jeopardizing their safety and health. This crisis echoed the urgent need for efficient and effective supply chain risk management strategies to mitigate such risks and ensure the availability of vital medical supplies. This review paper will be sharing different strategies and actionable tips to develop contingency plans, identify, reduce potential disruptions and recommended practices for risk management in the healthcare supply chain. This will highlight key areas such as inventory management and stockpiling, which focuses on maintaining safety stock levels to buffer against sudden disruptions, using advanced analytics to forecast demand and manage inventory levels. It will also examine risk assessment and identification by pinpointing potential attacks, threats, and vulnerabilities within the healthcare supply chain through thorough risk assessments. Additionally, it will cover supplier base diversification, emphasizing the importance of engaging multiple suppliers to reduce dependency on a single source and enhance supply chain resilience by balancing global and local suppliers to mitigate geographic disruption risks. Furthermore, it will explore the integration of technology, leveraging innovative solutions like blockchain for enhanced transparency, security, and traceability of supply chain transactions.

Social inflation and health care risk management.

This paper examines the concept of social inflation as it affects medical malpractice insurance claims, a phenomenon that warrants monitoring by risk managers in health care. The authors define social inflation as the growth in the cost of insurance claims that exceeds general inflation. The authors use data aggregated from insurance company Annual Statements and from a national database of malpractice reports to estimate that social inflation added $2.4 billion to $3.5 billion to booked losses over the 10 years ending in 2021, which is between 8% and 11% of total losses. The authors' approach is to show growth in loss development factors, a metric that property/casualty actuaries use to estimate claim costs. This approach is explained in detail. The paper concludes with commentary on how risk managers can incorporate consideration of social inflation in their overall assessment of risk.

A novel decision support system for proactive risk management in healthcare based on fuzzy inference, neural network and support vector machine

BackgroundThe nature of activities practiced in healthcare organizations makes risk management the most crucial issue for decision-makers, especially in developing countries. New technologies provide effective solutions to support engineers in managing risks. PurposeThis study aims to develop a Decision Support System (DSS) adapted to the healthcare constraints of developing countries that enables the provision of decisions about risk tolerance classes and prioritizations of risk treatment. MethodsFailure Modes and Effects Analysis (FMEA) is a popular method for risk assessment and quality improvement. Fuzzy logic theory is combined with this method to provide a robust tool for risk evaluation. The fuzzy FMEA provides fuzzy Risk Priority Number (RPN) values. The artificial neural network is a powerful algorithm used in this study to classify identified risk tolerances. The risk treatment process is taken into consideration in this study by improving FMEA. A new factor is added to evaluate the feasibility of correcting the intolerable risks, named the control factor, to prioritize these risks and start with the easiest. The new factor is combined with the fuzzy RPN to obtain intolerable risk prioritization. This prioritization is classified using the support vector machine. FindingsResults prove that our DSS is effective according to these reasons: (1) The fuzzy-FMEA surmounts classical FMEA drawbacks. (2) The accuracy of the risk tolerance classification is higher than 98%. (3) The second fuzzy inference system developed (the control factor for intolerable risks with the fuzzy RPN) is useful because of the imprecise situation. (4) The accuracy of the fuzzy-priority results is 74% (mean of testing and training data). ConclusionsDespite the advantages, our DSS also has limitations: There is a need to generalize this support to other healthcare departments rather than one case study (the sterilization unit) in order to confirm its applicability and efficiency in developing countries.

Healthcare Risk Management and Countermeasures of Clinical Medical Laboratory Testing

Clinical laboratory test-data report is not only an important basis for clinical diagnosis and treatment, but also an important medical evidence. However, at present, in clinical practice, there is a general situation that the medical test-data report have no pay necessary attention in medicine evidence. As a result, in cases of medical malpractise disputes, the medical test-data report often becomes the evidence of litigation against the hospital. This study aims to analyze the healthcare risks in clinical medical laboratory testing and propose effective risk management strategies. The article first identifies key risk points in clinical medical laboratory testing, including risks before, during, and after testing, as well as other related risks. It then discusses existing issues in healthcare risk management, such as non-standardized testing processes, inadequate risk warning mechanisms, and insufficient credibility of test results. Based on these analyses, the article puts forward targeted management strategies, including standardizing testing processes, improving warning mechanisms, and enhancing the credibility of test results. The purpose of this study is to enhance the safety and accuracy of clinical medical laboratory testing, reduce healthcare risks, and ensure patient safety.

The Association Between Physical Activity and Health Care Risk Management in Individuals With Disabilities.

Despite the increasing economic burden of people with disabilities (PWDs) over time, the impact of physical activity on PWDs in the Republic of Korea (ROK) remains relatively unexplored. Thus, we examined the association between physical activity and disease risk, health care utilization, and expenditures for PWDs in the ROK. We considered gender differences across eight diseases using the National Health Insurance (NHI) panel data from 2013 to 2019. The sample consisted of PWDs who underwent regular medical check-ups and were aged 40 years and above, aligning with the NHI's health screening program targeting beneficiaries in this age range. The final sample included 281 142 healthy PWDs. Among them, 44.1% (n = 124 061) engaged in physical activity, while the remaining 45.9% (n = 157 081) did not participate in any physical activity. The results show a negative association between physical activity and the incidence of various diseases among both genders. Health care utilization exhibited gender and disease-based variations, with men and women demonstrating higher utilization rates in the absence of physical activity. Health care expenditures also differed based on gender and disease, as men and women displayed higher costs in the absence of physical activity. Consequently, public policymakers should establish tailored activity programs for PWDs, adhering to activity guidelines designed for this population.

Genetic Testing for Successful Cancer Treatment.

Cancer genetic testing is a revolutionary medical approach that involves the assessment of genetic markers in asymptomatic individuals to predict their future susceptibility to cancer. This paradigm shift in early detection and intervention has the potential to profoundly alter our strategies for cancer prevention and treatment. One pivotal area where genetic testing can have a significant impact is among families with a hereditary predisposition to cancer. Recent research has seen a surge in the exploration of how individuals perceive their cancer risk within the realm of cancer genetics. This proactive approach to genetic testing allows healthcare professionals to identify family members who may carry the same cancer-related genetic mutations, empowering them to make informed decisions regarding their healthcare and cancer risk management. Genetic testing for cancer-related disorders has significantly improved in accuracy and affordability, potentially revolutionizing monitoring and treatment methods.The expanding knowledge of genetic mutations associated with cancer susceptibility has driven significant progress in cancer therapy. Identifying numerous major cancer susceptibility genes has propelled predictive genetic testing, providing individuals with valuable insights into their genetic predisposition to cancer. While perceived risk plays a vital role in genetic counseling, it is equally essential to offer comprehensive information about the advantages and potential risks associated with genetic testing. Ensuring that individuals have a clear understanding of the benefits and potential drawbacks of genetic testing is imperative for making informed healthcare decisions. In our comprehensive review, researchers explored several critical aspects of genetic testing in the context of cancer, including awareness and knowledge, the communication of cancer genetic risk, genetic testing for inherited cancer syndromes, and the challenges and limitations linked to genetic testing. Through this examination, we aim to illuminate the transformative potential of genetic testing in cancer prevention and treatment.

Influenza immunization of healthcare personnel in the post-COVID-19 pandemic era: Still a lot to do!

Healthcare-associated influenza is frequently encountered in healthcare settings with significant morbidity and mortality among vulnerable patients, absenteeism among healthcare personnel (HCP), and interruption of healthcare services. Numerous investigations indicate that nosocomial outbreaks are often traced to HCP. Despite the international and national endorsements, seasonal influenza vaccine acceptance among HCP continues suboptimal worldwide. Infection control is the major objective for healthcare risk management in order to guarantee patient safety, limit the cost of hospitalization and assurance health management in controlling influenza seasons. Vigilance and anticipation are required as globally we are moving from a reactive COVID-19 pandemic response phase to one of planning for the co-circulation of viral respiratory infections. Declining to understand HCP perception of influenza risk and acceptance of vaccination might have impact patient safety as well as healthcare services.

Strategy Selection of Healthcare Sector Development and Risk Management of its Implementation

Introduction. The topic of this study is the necessity to implement all stages of strategic planning for health sphere development, such as analysis of the internal and external environment, selection of a specific strategy for further development, and identification and management of risks associated with the implementation of the chosen strategy.
 Aim and tasks. The purpose of the study is to justify a comprehensive strategy for health sphere development based on the results of SWOT analysis, the characteristics of its main components, the identification of fundamental and specific risks of its implementation, and the development of their minimization directions.
 Results. The study offers an application of recovery, restructuring, and reengineering strategies based on a SWOT analysis of the health sector in Ukraine. It offers cost management and risk management strategies as additional strategies. This study analyzes the fundamental and specific risks of health sector strategic development based on expert assessments. It determines that socio-political (weighted score of 7.28 points), personnel (7.94 points), and production and financial risks (7.67 points) pose the greatest threat in 2023. In addition, social and political risks tend to increase during the next two years to 7.67 points, personnel risks to 8.12 points, and production and financial risks could decrease to 6.39 points.
 Conclusions. The strategy of functioning of socio-economic system could be chosen under both favorable and unfavorable external and internal conditions; the implementation of the recovery strategy is appropriate for solving the problem of unsatisfactory regulatory and legal support for functioning of industry; restructuring strategy envisages the implementation of organizational, economic, technological and social transformations aimed at improving quality of medical services and managing the assets of medical institutions; the implementation of reengineering strategy creates the necessary prerequisites for a fundamental rethinking of essence, tasks, techniques and methods of marketing activity of medical institutions in general, as well as the development of effective solutions for the formation and implementation of their assortment, communication and service policy in particular.

Effects of the Italian Law on Patient Safety and Health Professional Responsibilities Five Years after Its Approval by the Italian Parliament.

The application of the Italian law No. 24/2017, which focused on patient safety and medical liability, in the Italian National Health Service has been evaluated by a survey conducted five years after the promulgation of the law. The law required the establishment of healthcare risk management and patient safety centers in all Italian regions and the appointment of a Clinical Risk Manager (CRM) in all Italian public and private healthcare facilities. This study demonstrates that five years after the approval of the law, it has not yet been fully implemented. The survey revealed a lack of adequate permanent staff in all the Regional Centers, with two employees on average per Center. Few meetings were held with the Regional Healthcare System decision-makers with less than four meetings per year. This reduces the capacity to carry out functions. In addition, the role of the CRMs is weak in most healthcare facilities. More than 20% of CRMs have other roles in the same organization. Some important tasks have reduced application, e.g., assessment of the inappropriateness risk (reported only by 35.3% of CRM) and use of patient safety indicators for monitoring hospitals (20.6% of CRM). The function of the Regional Centers during the COVID-19 pandemic was limited despite the CRMs being very committed. The CRMs units undertake limited research and have reduced collaboration with citizen associations. Despite most of the CRMs believing that the law has had an important role in improving patient safety, 70% of them identified clinicians' resistance to change and lack of funding dedicated to implementing the law as the main barriers to the management of risk.

Risk Management-Obstetrics and Gynecology Perspective.

The Obstetrics and Gynecology physician's likelihood to experience medical malpractice claims are higher than in other medical specialties. We will review the basic principles of health care risk management, the role of the risk manager, and the importance of health care risk management in risk mitigation for obstetrics and gynecology physicians. Attention is focused on medical record documentation, disclosure of adverse events, second victim programs, grievance management techniques, alternative dispute resolution concepts, regulatory inquiries including state licensure investigations, product failures, and electronic media strategies. Concluding, health care risk management may be used as a claim avoidance tool and provider protective vehicle for physicians.

Medical Professionals' Knowledge, Sensitivity, and Attitudes Towards Social and Ethical Aspects of Stem-Cell Donation, Therapy, and Research: Implications for Healthcare Risk Management.

Knowledge, sensitivity, and acceptance attitudes towards social, moral and ethical aspects of stem-cell donation and treatment are important factors in preventing professional negligence and improving healthcare risk management and health justice in this specialized area of health services. To assess knowledge, sensitivity, acceptance and rejection attitudes towards stem-cell transplantation and research and its associated factors among medical professionals in Saudi Arabia. A quantitative and cross-sectional study was conducted in December 2022. Data were collected from 260 medical workers from various regions in Saudi Arabia. T-tests, ANOVA, and multiple linear regression were applied to find variations and associations of gender, age, profession, nationality, religious orientation, and work experiences of professionals with knowledge, sensitivity, acceptance and rejection attitude towards stem-cell donation, therapy, and research. A confidence interval (CI) of 95% and a significance level of p≤ 0.05 was chosen for testing statistical models. A total of (n=260) medical professionals, among which clinicians (n=98;38%), pharmacists (n=78;30%), and nurses (n=84;32%) completed the survey questionnaire. Findings show that (n=27; 10%) participants have work experience in stem-cell donation, (n=67; 26%) in stem-cell therapy, and (n=124; 48%) in stem-cell research. Clinicians and pharmacists, in comparison to nurses, had better knowledge (p<0.01 and p<0.05); pharmacists had higher sensitivity (p<0.05) than nurses. Compared to those who do not have work experience in stem-cell research, those who had work experience had higher levels of knowledge, sensitivity, and acceptance attitudes at (p<0.001) and (p<0.01). Acceptance attitudes are considerably higher among male participants than females and similarly higher among older participants than younger participants (p<0.05). Compared to non-Saudi nationals, Saudi nationals scored higher on rejection attitudes (p<0.01). Compared to those having work experience in stem-cell donation and research, those without work experience are more likely to hold rejection attitudes (p<0.01). Findings suggest female professionals, Saudi nationals and those who do not have prior work experience in stem-cell donation, therapy, or research had low levels of knowledge, less sensitivity, and less acceptance attitude and are more likely to hold rejection attitude, signifying the need to address them to improve healthcare risk management.

Optimizing cardiovascular risk assessment and registration in a developing cardiovascular learning health care system: Women benefit most.

Since 2015 we organized a uniform, structured collection of a fixed set of cardiovascular risk factors according the (inter)national guidelines on cardiovascular risk management. We evaluated the current state of a developing cardiovascular towards learning healthcare system-the Utrecht Cardiovascular Cohort Cardiovascular Risk Management (UCC-CVRM)-and its potential effect on guideline adherence in cardiovascular risk management. We conducted a before-after study comparing data from patients included in UCC-CVRM (2015-2018) and patients treated in our center before UCC-CVRM (2013-2015) who would have been eligible for UCC-CVRM using the Utrecht Patient Oriented Database (UPOD). Proportions of cardiovascular risk factor measurement before and after UCC-CVRM initiation were compared, as were proportions of patients that required (change of) blood pressure, lipid, or blood glucose lowering treatment. We estimated the likelihood to miss patients with hypertension, dyslipidemia, and elevated HbA1c before UCC-CVRM for the whole cohort and stratified for sex. In the present study, patients included up to October 2018 (n = 1904) were matched with 7195 UPOD patients with similar age, sex, department of referral and diagnose description. Completeness of risk factor measurement increased, ranging from 0% -77% before to 82%-94% after UCC-CVRM initiation. Before UCC-CVRM, we found more unmeasured risk factors in women compared to men. This sex-gap resolved in UCC-CVRM. The likelihood to miss hypertension, dyslipidemia, and elevated HbA1c was reduced by 67%, 75% and 90%, respectively, after UCC-CVRM initiation. A finding more pronounced in women compared to men. In conclusion, a systematic registration of the cardiovascular risk profile substantially improves guideline adherent assessment and decreases the risk of missing patients with elevated levels with an indication for treatment. The sex-gap disappeared after UCC-CVRM initiation. Thus, an LHS approach contributes to a more inclusive insight into quality of care and prevention of cardiovascular disease (progression).

Cybersecurity: Guiding Principles and Risk Management Advice for Healthcare Boards, Senior Leaders and Risk Managers.

In recent years, the average cost of healthcare-related data breaches increased from approximately US$7 million in 2020 to over US$9 million in 2021. Moreover, breaches in healthcare have been consistently more costly than in other sectors for 11 consecutive years. With the frequency and costs of cyberattacks expected to rise, healthcare organizations must carefully plan for and identify strategies to mitigate cyber-related risks. This paper provides practical guidance for boards, senior leaders and risk managers in the development and implementation of organization-specific cybersecurity measures, with a focus on the identification, mitigation and management of risks.

Development of risk inventory for hospitals in India

Introduction With the ever-increasing hazards and associated risks in healthcare, the healthcare facilities should have a comprehensive enterprise risk management program. Risk management in Indian Healthcare is nascent and not structured. With the increasing potentially compensable events, workplace violence, cybersecurity threats, complex accreditation standards, old infrastructure and ever-changing legal and political scenarios, the risk inventory is expanding, leading to litigations due to lack of mitigation strategies. This study focuses on developing a comprehensive organization wide enterprise risk inventory for the healthcare facilities in India. Method Secondary data from published studies were collated and 25 risk factors were identified. Interviews with 12 domain experts further identified 38 context and country-specific risks. The identified 63 risks were sent to 20 senior healthcare risk managers. Forty-three risks were unique and were validated by the senior healthcare risk managers. Twenty risks out of 63 identified had similar meaning. These 20 risks were reworded, rephrased and merged into eight risks by the senior healthcare risk managers. The 51 risks were endorsed by the 12 domain experts. The identified risk factors were surveyed among the risk managers from various hospitals to understand the importance and ranking of the risk in the Indian context. Results Sentinel events/Never events appeared in different rank orders and seems to be among the top five risks as perceived by professionals in India. Second highest ranked risk was ‘Staff attrition’. The data analysis showed the different attributes of survey participants, such as the size of the organization with respect to bed capacity and length of time working in the field of risk management. Conclusion The results provide valuable insights into the perception of risk based on hospital size and the educational background of risk managers. This inventory may help hospitals develop strategies for mitigating, controlling and monitoring risks for better hospital management.