A study released earlier this year by the the Society of Actuaries (SOA) estimated that measurable medical errors cost the U.S. economy $19.5 billion in 2008. According to the SOA, the report used claims data to provide an actuarially sound measurement of costs for avoidable medical injuries.
The report also indicates that 87 percent of actuaries believe that reducing medical errors is an effective way to control healthcare cost trends for the commercial population, and 88 percent believe this to be true for the Medicare population.
According to the study, approximately 55 percent of the total error costs were the result of these five common medical errors:
Click here to read the full press release from SOA and access a link to the full report.
If you or a loved one has been injured due to medical error, please contact the Oregon medical malpractice lawyers at the D'Amore Law Group for a free consultation.