Reduce Drug Error. Save Lives.

Medical error now is the third leading cause of death in the USA1 and a significant killer in the Australia and New Zealand. As hospitals becoming busier maintaining safe medication procedures becomes harder. Nearly 75% of medication errors have been attributed to distractions2 , with numerous other studies indicating increasing error rates from the pharmacy3 to the patient with higher workloads.

In 2017, the ECRI Institute declared intravenous medication errors to be the number one threat to patient safety in the USA.

Intravenous medication is associated with the greatest risk of medication error.4 They can be technically complex to prepare and administer5 and when they are administered in error, the negative effects of these preparations are more difficult to mitigate due to the immediate and complete absorption and distribution into the blood stream.

Reduce Drug Error. Save Lives.

Medical error now is the third leading cause of death in the USA1 and a significant killer in the Australia and New Zealand. As hospitals becoming busier maintaining safe medication procedures becomes harder. Nearly 75% of medication errors have been attributed to distractions2 , with numerous other studies indicating increasing error rates from the pharmacy3 to the patient with higher workloads.

In 2017, the ECRI Institute declared intravenous medication errors to be the number one threat to patient safety in the USA.

Intravenous medication is associated with the greatest risk of medication error.4 They can be technically complex to prepare and administer5 and when they are administered in error, the negative effects of these preparations are more difficult to mitigate due to the immediate and complete absorption and distribution into the blood stream.

The Risks of Medication Error

The Cost of Pharmacy Errors

Pharmacy IV drug errors are typically low in their incidence but potentially lethal in their impact. Even at low error rates the additional costs of patient harm can be significant. As most IV drugs are clear solutions, there is no way commonly available for a pharmacist to rapidly verify if the drug in the syringe or the IV bag if what was the drug its was intended to be, to pick up those rare but potentially serious an costly errors.

Annual Cost Per Hospital

$3,224,000

From error reduction alone, cost savings could reach $62/dose or $3m/year from a hospital pharmacy dispensing 52,000 doses per year.

1-15%

of medication errors are reported

0.1-0.5%

of IV doses from pharmacies involve harmful error

$12,400-$15,600

estimated cost per harmful error in New Zealand

$12-$62

average cost of error per dose (.1-.5% of $12,400)

The Veriphi Solution

Veriphi has spent considerable time and investment developing a bench top, IV drug verification analyser to reduce the risks associated drug administration. The analyser, and the know-how gained, is a technology breakthrough that is recognised by 21 granted global patents, including 8 granted US patents.
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