Medical Mistakes Cost U.S. Economy 19.5 Billion Dollars In 2008
According to a study by The Society of Actuaries, medical errors cost the U.S. economy 19.5 billion dollars in 2008 alone. The report shows that about 1.5 million medical errors not only compromised the quality of health care in the U.S. but also caused unnecessary waste in the healthcare system. Of the 19.5 billion dollars, about 17 billion dollars was spent providing inpatient, outpatient and prescription drugs to victims of medical errors. The study highlights the need to improve the quality and efficiency of healthcare in America to protect patients and control the staggering costs of health care in the U.S.
The study found that there were 6.3 million identified injuries from medical errors in 2008 and the average cost to the health care system of each error was about $ 13,000. These resulted in about 2,500 avoidable deaths. In addition, in the inpatient setting, medical injuries occur in 7 of every 100 admissions!
The fact is that medical errors account for a significant source of lost health care funds every year and cause untold pain, suffering, disability and death for victims. If you suspect you have been the victim of medical negligence, call CGWC for a free consultation about your rights under Florida’s complex medical malpractice laws.