RESEARCH SHOWS THAT MEDICAL ERRORS ARE A SERIOUS SOURCE OF FINANCIAL LOSS FOR HOSPITALS ACROSS THE COUNTRY:
analyzed 350,000 malpractices cases, communication was shown to be a factor in 30% of cases, which represented $1.7 billion in total incurred losses.
estimated that as many as 80% of serious medical errors involve miscommunication between caregivers during transfers of patients.
I-PASS Implementations Lead to Significant Reductions in Costs
Adverse events are costly, and a reduction in adverse events can result in significant savings. The insurer and the hospital share a mutual financial benefit when a standardized handoff program is implemented.
Annual Savings of Malpractice Claims
Annual Savings from Costs Avoided
Exceptionally Positive Financial Return
I-PASS program prevents ~1.5 adverse events per 100 hospital admissions per year
Mobile users, please scroll horizontally in the table below to see potential hosptial savings with varying costs of adverse events at $5,000, $12,000, and $27,000 during a 3 year period.
| Est. Cost of Adverse Events | $5,000 | $12,000 | $27,000 |
|---|---|---|---|
| Hospital Admissions/year | Hospital Savings over 3 years | ||
| 10,000 | $2.2M | $5.4M | $12.1M |
| 25,000 | $5.6M | $13.5M | $30.3M |
| 50,000 | $11.2M | $27.0M | $60.7M |
1. Costs of adverse events in intensive care units. Kaushal R, Bates DW, Franz C, Soukup, JR, Rothschild, JM. Crit Care Med. 2007 Nov; 35 (11): 2479-83. PMID: 1782803
2. American Journal of Medical Quality, p 1-7, DOI:10.1177/1062860615608938
Schedule A Free Financial Analysis
Our team will develop an ROI emphasizing the potential savings of I-PASS implementations for review on your call.
