Whitepapers & Guides

The Impact of Patient Safety on Medical Costs

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Current Research on the Impact of Patient Safety on Medical Costs Avoidable medical errors are the third leading cause of death in the United States and approximately half of the costs of these medical errors are caused by hospitals that are largely paid the same amount whether there is a complication or not. Therefore, hospitals have a financial incentive to prevent avoidable medical errors such as hospital acquired infections, surgical complications, medication errors, and pressure ulcers, which cost hospitals approximately $11.9M per 100,000 admissions. Enabled by patient safety platforms, proven interventions such as checklists and counting surgical equipment can substantially reduce these errors by about 41% across all error types, resulting in potential savings of $4.8M per 100,000 admissions per year. Adam E. Block, PhD Principal, Charm Economics, LLC Principal Adam E. Block, PhD brings two decades of health care industry, government, and academic research experience to solve business problems. He has deep relationships in managed care contracting, hospital finance, actuarial science, and clinical medicine that can be salient to your project.

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