Patient safety is a discipline that emphasizes safety in healthcare through the prevention, reduction, reporting, and analysis of incidents that lead to adverse effects. In 2016, such occurrences cost the U.S. and European healthcare systems $317.93 billion and are expected to rise to $383.7 billion by 2022. The bulk of these costs are directly associated with additional medical expenses, followed by increased mortality rates and loss of productivity. When indirect costs are accounted for, the estimated economic impact skyrockets to nearly $1 trillion annually.
Data indicates that the average cost per incidence of preventable harm is approximately $58,776 per injury. Medicare and other insurers usually don’t cover the cost of medical treatment related to adverse events and the remaining costs are typically externalized through malpractice insurance. The patients themselves typically shoulder indirect costs and the economy at large also suffers through disability payments, lost productivity and other associated costs.
While patients may not be in control of preventing all possible harm,