Business Finance Homework Help

Find one recent example of a situation/story/event in the news or on a website (within the past 6 months or so) and briefly describe how it relates to one or more of the risk management concepts we have studied so far in our course.  Be sure to include the link for the source of the event you select.  Do not include the COVID-19 situation.

Also, I need a reply to my college’s post with an external recourse:

I  will be speaking on an event that happened in my clinic just recently  and rather than how it related to one or more of the risk management  concepts, more so how they could have used risk management concepts.  

On November 9th, chaos ensued. We  were set to have over 60 patients come into our outpatient clinic. I  had just finished checking in the first patient before 8AM when my  computer logged me out and wouldn’t let me log back in. My manager was  running around to work with the providers on how they would like to work  today. In the mean time we were told to use “Down  Time” paperwork which is the equivalent to an electronic medical  record. No one’s ever heard of it and we didn’t have any extra physical  copies laying around. Since the computers weren’t working we were not  able to print those out for patients and the practice to use. When we  finally did manage to find a physical copy to make copies of,  patients became unruly that they had to fill out the paperwork when  everything is already in their chart. We tried to find a happy medium in  terms of what they really need to fill out just for this visit. We  cancelled and rescheduled some appointments after speaking to providers  who felt that patients wouldn’t have the best visit because the provider  wouldn’t have access to their charts or be able to notate. In terms of  getting these patients to their appointments we then had to run the  paperwork to the designated medical assistance working for the provider  the patient is seeing. Turns out it wasn’t just our office, but  throughout Jefferson Jersey locations and Philadelphia as well. There  was widespread Xfinity outage and Comcast customers saw the internet as  well as phone services go down (Tornoe, 2021). This lasted for our  office about an hour or so. A lot can be done at an outpatient clinic in  an hour. We can see up to 5-10 patients for the  13 different specialties we have. For some other locations this lasted  until the afternoon, and throughout the nation on different days as well  such as Indiana, Georgia, Illinois, and San Francisco. 

This is where a better risk management  plan could have come in and allow our clinic to work more efficiently  and effectively. Down Time papers were not the solution if they were to  just be discarded at the end of the day. If we had better preventive  controls, better risk controls we could have limited the possibility of  an undesirable hazard event occurring such as the outage. It was  incredible finding out that we didn’t even have a proper COOP in place  or any form of recovery/continuity planning for our specific clinic.  Just a general one for the organization as an enterprise. It’s obviously  time for our outpatient clinic to increase the level of risk to more  recent times. Along with this, making the organization more resilient as  well. When seeking to manage these emerging risks, an organization  should evaluate whether the risks are to be treated as hazard, control,  or opportunity risks.  

References 

Tornoe, R. (November, 2021). Comcast says Xfinity customers in Philadelphia and South Jersey should see service restored soon. The  Philadelphia Inquirer. Retrieved from  https://www.inquirer.com/news/comcast-xfinity-outa…