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Know Your Risk Management

By: Sallie Deitz
Posted: June 2, 2009, from the June 2009 issue of Skin Inc. magazine.

page 2 of 12

“I would have known this was a problem.”

“I would NEVER have touched this woman.”

Rest assured, with many more years of experience, Madge too would handle this situation differently. The lesion did turn out to be a basal cell carcinoma, but luckily for both of them, it was caught early, as basal cell carcinomas are typically slow-growing, and the client had minimal tissue removed. Today there is no sign of the aforementioned lesion, and Madge continues to treat this client’s skin—a good outcome.

Risk management defined

This scenario had the potential of being a nightmarish event in today’s litigious environment. However, the risk to Madge and her business could have been significantly minimized by applying a few risk management techniques.

Accepted convention views risk management in four basic categories: avoidance, meaning eliminating all potential risks; reduction, meaning reducing risks by employing measures that minimize potential risks; retention, meaning totally accepting risks; and transfer, meaning shifting the risks to another body, such as in purchasing insurance or making contractual agreements, which ultimately has other parties sharing in the risk.