Return On Investment – Conservative Estimate 10 to 1
“More people die from hospital-based preventable medical injuries than from breast cancer or AIDS or motor vehicle accidents”
-Brennan et al. New England Journal Medicine 1991
Thomas et al. 1999
“Injuries drive direct health care costs totaling $9 – 15 billion per year”
- Thomas et al. 1999
- Johnson et al. 1992
Does Readiness Rounds fix all of this ________ NO
However what is the value attributable to having organization consistently focused on the top 10 failing items?
- Operating costs are reduced due to consistent identification and action on easily identifiable performance improvement priorities
- The potential for regulatory citation is significantly decreased
- Impact of increasing public awareness of hospital safety and quality results
- Reduction in cost of external consulting preparation and reviews
- Nursing costs are reduced due to streamlining of processes
- Quality Measurement costs are reduced due to automation of process