Certification in Healthcare Risk Management: 5 Best Programmes (Updated 2025)

  • By: Darren McCullagh
  • January 20, 2025
Healthcare Risk Management Certification
Reading Time: 4 minutes

Healthcare errors can be dangerous to the patient and costly for everyone. Every year, mistakes cost billions of dollars throughout the healthcare industry, and patient safety is affected. This is why it is no surprise that healthcare risk management (HRM) is such an important field. 

HRM focuses on using tools for identifying, assessing, and preventing risks in healthcare settings. Certification in healthcare risk management offers a variety of benefits, such as enhanced credibility, higher salary potential, and more networking opportunities.

As the demand for skilled HRM professionals continues to grow, many are considering the value of certification in this essential area. Here, we will discuss 5 of the best programmes boards and organisation leaders should consider for certification in healthcare risk management.

What is Risk Management?

Risk management is the process used to identify, assess, and prevent any potential hazards that may arise in healthcare settings. It is a way for organisations to protect patient safety as well as the assets of the institution itself. 

As technology continues to evolve, healthcare risk management becomes more complicated. This is why it is important to have a system in place to minimise errors, financial losses, and legal liabilities while maintaining the high quality of care that patients expect. 

Taking proactive measures, such as performing risk assessments and conducting regular training, can prevent patient errors. In any healthcare organisation, the board of directors is ultimately responsible for ensuring that an appropriate risk management programme is in place to mitigate potential risks. 

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Certification in Healthcare Risk Management Programmes

To better prepare healthcare staff to manage risks and prevent harmful mistakes, there are various certification options available. Here are 5 options.

1. Certified Professional in Healthcare Risk Management (CPHRM)

This is considered to be the top-ranking certification for the risk management profession. To be eligible for the examination, a candidate must have completed 3,000 hours or 50% of full-time job duties within the last three years dedicated to healthcare risk management in a healthcare setting or with a provider of services to the industry. In addition, the candidate must hold one of the following:

  • Bachelor’s degree or higher from an accredited college or university plus five years of experience in a healthcare setting or with a provider of services to the healthcare industry
  • Associate degree or equivalent from an accredited college plus seven years of experience in a healthcare setting or with a provider of services to the healthcare industry
  • High school diploma or equivalent plus nine years of experience in a healthcare setting or with a provider of services to the healthcare industry
 

The exam costs $275 USD for members of the American Society for Health Care Risk Management (ASHRM) and $475 for nonmembers.

2. Certified in Healthcare Privacy and Security (CHPS)

Those who obtain CHPS demonstrate a full understanding of designing and administering privacy and security protection programmes in healthcare settings. It enhances a professional’s ability to properly protect patient information and adhere to all risk management strategies, leading to a higher degree of safety. 

To be eligible, candidates must meet one of the following requirements:

  • Hold a secondary school certificate or its equivalent and have a minimum of six years of experience in healthcare privacy or security.
  • Earn an associate’s degree in a related field and gain four years of experience in healthcare privacy or security.
  • Possess CCA, CCS, CCS-P, or RHIT and gain four years of experience in healthcare privacy or security.
  • Hold a bachelor’s degree in a related field and gain two years of experience in healthcare privacy or security.
  • Hold an RHIA and have two years of experience in healthcare privacy or security.
  • Earn a master’s degree or higher in a related field and obtain one year of experience in healthcare privacy or security.
 

The cost of the CHPS exam is $259 USD for AHIMA members and $329 for nonmembers.

3. Certified Risk Manager (CRM)

This designation is important for those who wish to demonstrate the skills needed to identify, assess, and mitigate risks. With increasing complexities in the industry, healthcare organisations are stressing the importance of establishing strategies to manage risks. To take the exam, candidates must take five courses: Principles of Risk Management, Analysis of Risk, Control of Risk, Financing of Risk, and Practice of Risk Management. Upon completion of each course, a 2.5-hour exam is given. Each course costs $435 USD.

4. Healthcare Risk Management Certification (HRM)

This programme is a foundational course divided into three parts. After completion, a certificate is awarded by the ASHRM. This certification course is recommended for candidates with less than five years of experience in the healthcare field. The cost of the exam is $275 USD for ASHRM members and $425 for nonmembers.

5. Certified Patient Safety Officer (CPSO)

A certified patient safety officer credential helps to develop skills to achieve patient safety outcomes. Those with the certification promote and lead organisations in patient safety. The course covers topics such as patient safety hazards, risks, and compliance. The exam contains 100-150 multiple-choice questions. To take the exam, an application fee of $145 USD is required, followed by a cost of $250 for the exam itself.

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To maintain an effective risk management plan, you must equip decision-makers with the tools and information they need to lead effectively. OnBoard’s board management software empowers healthcare boards and leaders to implement and oversee risk management programmes with precision.

With features like secure document sharing, real-time collaboration, and robust compliance tracking, OnBoard ensures leaders stay informed about evolving risks while streamlining board operations. Its user-friendly platform supports decision-making for high-stakes healthcare environments, while helping organisations uphold patient safety, meet regulatory requirements, and minimise liability.

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