Medical Errors Cost $19.5B in 2008

The Society of Actuaries’ Health Section has published a research report measuring the annual frequency of medical errors in the United States and the total measurable cost to the United States economy because of these errors, according to a news release by SOA.

Advertisement

Of 6.3 million measurable medical injuries, approximately 1.5 million were associated with a medical error. The total cost per error was estimated to be approximately $13,000, resulting in a total cost to the United States economy of $19.5 billion in 2008.

Eighty-seven percent, or $17 billion, of that amount is due to medical costs of providing inpatient, outpatient and prescription drug services to individuals who were affected by the medical errors.

An additional $1.4 billion of the total amount was due to indirect costs of increased mortality rates, and another $1.1 billion was related to lost productivity due to short-term disability claims.

Read the SOA data on The Economic Measurement of Medical Errors (pdf).

Read other coverage about healthcare quality:

Thomson Reuters Study: Faith-Based Health Systems Deliver Better Patient Care

APIC Selected to Lead Pennsylvania Infection Prevention Programs

Pittsburgh’s Children’s Hospital Implements Talking Prescription Boxes to Improve Patient Safety

Advertisement

Next Up in Clinical Leadership & Infection Control

Advertisement

Comments are closed.