Risk Management

Risk Management Overview Paper
Tanjanika Seals
FIN/415
November 2, 2011
Monica Washington

The Virginia Commonwealth University wellness governance is an urban, comprehensive academic medical center in fundamental Virginia established to pre come and restore health for all people, to undertake the cause and cure of diseases through innovative research, and to educate those who serve humanity (Virginia Commonwealth University, 2011). VCU health system is committed to purity in patient care and education as the leading(prenominal) academic medical center in the mid-Atlantic region. similar all organizations they are not without organizational risk.
Risk great deal be defined as the combination of the probability of an resolution and its consequences. One of the types of risk VCU wellness System faces on a daily basis would be a Financial Risk. VCU Health System has a contract with insurance companies such as Cigna, Aetna, United Healthcare, Anthem Blue Cross and Blue Shield, southern Health, Medicare, Medicaid, and many more. VCU Health System must abide by the rules and guidelines set forth in the contract. VCU Health System has 60 days from the date of service to bill the insurance company. If VCU Health System does not properly bill the insurance company, VCU forget not get paid for the services rendered.




VCU Health System could also lose government funding by violating the Health Insurance Portability and Accountability Act also known as HIPAA. HIPAA requires the establishment of national standards for electronic health care legal proceeding and national identifiers for providers, health insurance plans, and employers. HIPAA also address the earnest and privacy of health data. HIPAA establishes regulations for the use of protected Health Information. Protected Health Information is any information held by a covered entity which concerns health status, provision of health care, or honorarium that can be linked to an individual. VCU Health System is disallow from giving out information to...If you want to get a full essay, order it on our website: Orderessay



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