IHI produces tool to calculate the cost of adverse events

The Institute for Healthcare Improvement (IHI) in the USA has, in response to widespread interest in making the “business case” for quality, unveiled a new practical tool that can be used to model the financial implications of reductions in adverse event rates.

This tool, the Events Prevented Calculator, allows one to track the change in rate of any one type of adverse event over time, and, when appropriate additional data are added, the consequent change in unnecessary deaths (“lives saved”), real and additional potential cost savings (“dark green dollar” savings and “light green dollar” savings, respectively), and the return on investment of quality improvement work targeting those adverse events.

According to the IHI, the primary purpose of the tool is allow clinical or quality staff to translate the results (or potential results, if hypothetical event data are used) of improvement work into terms and concepts that might be more accessible and relevant to leadership, board, and finance functions.  

The tool can be freely accessed here.

 

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