Nurse Executive Certification Practice Exam

What aspect should policies in a risk management plan address?

1. Only financial transactions

2. Confidentiality and conflict of interest

3. Training programs exclusively

4. General operational procedures

The correct answer is: Confidentiality and conflict of interest

Policies in a risk management plan should address confidentiality and conflict of interest because these aspects are critical to safeguarding sensitive information and maintaining the integrity of the healthcare organization. Confidentiality ensures that patient information and proprietary data are protected against unauthorized access, which is fundamental to building trust with patients and complying with legal requirements such as HIPAA. Addressing conflict of interest is equally important, as it helps to prevent situations where personal interests could improperly influence professional judgment or actions, thereby compromising the quality of care and the organization’s ethical standards. While financial transactions, training programs, and general operational procedures are certainly important components of an organization’s operations, they do not encompass the specific risk management concerns pertaining to personal and organizational ethics. Policies focused solely on financial transactions, for example, would miss other vital areas of potential risk, while training programs and operational procedures do not directly address the need for confidentiality and ethical decision-making in a comprehensive manner. Thus, focusing on confidentiality and conflict of interest positions the organization to better manage potential risks associated with ethical dilemmas and breaches of privacy.