This report estimates that the various adverse events put an additional cost burden of $317.9 billion on hospitals across the US and Western Europe, adversely affecting 91.8 million patients and leading to 1.95 million deaths in 2016. The cost burden is expected to increase at a CAGR of 3.2% to reach $383.7 billion by 2022.
The study is a comprehensive analysis of 30 most pressing patient safety adverse events affecting patients, care givers, and healthcare organizations across the globe. The study measures the current and forecast country-wise cost impact, number of incidences, and mortality of individual adverse events.
It goes on to list the top adverse events, increasingly capturing care provider mind shares, current investment trends and forecast stakeholder interests. It also analyses the current competitive environment, most impactful vendor solutions addressing the top patient safety issues and their future market potential.
The study also highlights some of the most innovative and promising solutions capable of disrupting the market as well as convergence of new technologies entering the field. It finally concludes with pointing out the top 5 most compelling future growth opportunities, key strategies for growth and implementation challenges.
Patient Care Management (medication safety, wrong patient/ site/ indication (WPSI) events, patient falls, pressure ulcers, antibiotic resistance, patient handoff safety, maternal death and diagnostic safety); Health IT Management (EHR/ EMR Safety, alarm fatigue, lack of patient engagement, hospital outcomes data transparency, protected health information (PHI) compromise, unnecessary emergency department (ED) admissions, and medical device cyber-security); Surgical Care Management (CAUTI, vascular catheter infections, HAP/ VAP, venous thromboembolism, surgical site infections (SSI), sepsis, air embolism, foreign object post-surgery, off-label drug/ device usage); and Environment and Workforce Management (burns/ thermal injuries, anesthesia safety, electrocution, healthcare worker (HCW) immunization, occupational physical safety hazards, and psychological health of HCW).
Estimated mortality rate Number of incidences in 2016, by region Cost impact of each adverse event in 2016, by country Estimated growth of cost impact till 2022, by country Segment-wise average cost per adverse event, by country Current and future assessment of each adverse event in terms of current degree of control on the issue and expected future stakeholder focus on combating the issue, by region Estimation of market potential of each adverse event in terms of competitive intensity, effectiveness and expected future adoption potential of current vendor solutions, new innovative solutions addressing each issue and disruptive potential of the patient