How to create reliability targets using a risk-based approach

Setting up risk-based design reliability targets for a medical device proves to be challenging in practice.
A common practice is that higher the risk, higher the reliability target. But how do you know that you are using a correct risk-based scale to establish your design reliability targets commensurate with risk?
Reliability is a core functional characteristic of the product and it should be a part of your design inputs with a clear link to risk analysis.
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