One major function of risk management is to reduce the risk of which event?

The primary focus of risk management in healthcare institutions is to minimize the likelihood and impact of adverse events that can lead to harm to patients, financial losses, and damage to the institution's reputation. Malpractice claims represent a significant concern within healthcare, as they can arise from perceived negligence, inadequate care, or other failures that compromise patient safety. By addressing the factors that contribute to these claims, such as improving patient care protocols, enhancing staff training, and maintaining accurate documentation, risk management aims to reduce the occurrence of malpractice incidents.

This proactive approach not only protects patients but also safeguards healthcare institutions from legal repercussions, financial liabilities, and potential harm to their public image. While other aspects like medical records accuracy, staff turnover, and patient referrals are important in healthcare operations, they do not directly encapsulate the core objective of risk management, which is to prevent and mitigate incidents that could lead to malpractice claims and, consequently, ensure safer healthcare delivery.