Managed risk definition

Managed risk means a process by which a resident‟s high-risk behavior or choices are reviewed with the resident. Alternatives to and consequences of the behavior or choices are explained to the resident and the resident‟s decision to modify behavior or accept the consequences is documented.
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Managed risk means the process by which the facility staff discuss the service plan and the needs of the resident with the resident and, if applicable, the resident's representative or designee or the resident's surrogate, guardian, or attorney in fact, in such a way that the consequences of a decision, including any inherent risk, are explained to all parties and reviewed periodically in conjunction with the service plan, taking into account changes in the resident's status and the ability of the facility to respond accordingly.
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Managed risk means the process of balancing resident choice and independence with the health and safety of the resident and other persons in the facility or program. If a resident’s preference or decision places the resident or others at risk or is likely to lead to adverse consequences, such risks or consequences are discussed with the resident, and, if the resident agrees, a resident representative, and a formal plan to avoid or reduce negative or adverse outcomes is negotiated, in accordance with the provisions of N.J.A.C. 8:36-4.17.
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Examples of Managed risk in a sentence

  • Managed risk does not constitute a waiver of liability nor does it include instances where a Managed risk is a process of informed decision-making.

  • Managed risk agreements are not appropriate when a risk to others has been identified (e.g. risk to staff, residents, and/or the organization).


More Definitions of Managed risk

Managed risk means the process by which the
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Managed risk means a formal process of negotiating
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Managed risk means the process by which the facility staff discuss the service plan and the needs of the resident with the resident and, if applicable, the resident's representative or designee or the resident's surrogate, guardian, or attorney in
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Related to Managed risk

  • Managed Assets means the total assets of the Trust (including any assets attributable to money borrowed for investment purposes) minus the sum of the Trust’s accrued liabilities (other than money borrowed for investment purposes).

  • Managed Fund means any Reportable Fund for which the Firm serves as an Investment Adviser or Sub-Adviser.

  • Managed Account means an account of a client for which a person or company makes the investment decisions if that person or company has discretion to trade in securities for the account without requiring the client’s express consent to a transaction;

  • operational risk means the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, and includes legal risk;

  • Managed Service means the managed service provided by the Managed Service Provider to the End User comprising the Software and the Services;