Answer the following within a 3 to 4 page:
Enterprise risk management (ERM) is used in many different business settings to evaluate and continuously improve processes.
The chief operating officer (COO) of your health care organization was recently hired from outside of health care and has used other risk management models in the past. The new COO wants to understand how better to use ERM for a health care setting.
Write a paper detailing how ERM is similar and different between health care organizations, which are primarily service-based, and non-health-care businesses that are primarily product-based.
Your paper should explain ERM concepts in health care as they relate to the following:
a. Quantitative areas: Revenue cycle management, information technology, medical coding and patient safety, etc.
b. Qualitative measures: Human resources, patient comfort, and outreach satisfaction, etc.
Your paper should explain differences between service-based and production-based ERM models, with an emphasis on the intangibles of health care.