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Most countries provide free health services to their citizens. These can be usually had at the public hospitals that are run by the government. In spite of this, people still visit some of the public health care centers. This is because apart from being exclusive, these places also provide better services to the patients who come to visit them as they have a better customer centric focus.

The other way to thrive for private hospitals is because of the insurance policies. Private health care centers have linkages with insurance companies and hence they help process the patients file faster and more easily.

Private health care centers attract people as a lot of people buy insurance policies. Many private health care centers help the patients get their insurance easily by working on their links with the insurance bodies and hence save a lot of time, hassle and money for the patients. In spite of this a lot of private hospitals are far much more expensive as compared to the public hospitals. So, the treatment that the private hospitals provide is, on the whole, quite expensive.

In spite of all this, private health care is much more expensive as compared to public health care. For the general public, even though the insurance plans do provide all that is required, they still do not provide complete cover to the individual. Some or the other diseases are not covered in most insurance policies.

There are many reasons why risk management is and should be a very important part of all planning that happens in any private health center. For any private health center, the patients that it treats are charged much higher as compared to what it costs them in any government funded hospital. This means that the customers expect that good services from you.

A good risk management strategy for any private health care center will mean that they adopt strategies like getting customer feedback, assuaging all the customer grievances, taking into account all the different risks that the organization might face, monitoring these risks for escalation and avoiding them.

But if it happens that the cost of insurance is higher than the cost of bearing that risk, then you can go by the final strategy of risk retention too.

There are times though when the money that you need to pay for your monthly premium is larger than the cost of the car that you insured. In such circumstances, you have to take a call and decide to bear the cost of any damages that might happen to the car in the future. This strategy is called as risk retention and it needs to be implemented depending on its financial viability only in any private health care center.