Medical errors cost the U.S. economy at least $19.5 billion in 2008, estimates a study released today by the Society of Actuaries. Of that amount, about $17 billion was due to increased medical costs, $1.1 billion to lost productivity from short-term disability claims, and $1.4 billion from increased mortality rates.
Commissioned by SOA and completed by consultants with Milliman, Inc., the report used 2008 claims data to provide an actuarially sound estimate of costs for potentially avoidable medical injuries.
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