In today’s healthcare landscape, EHR-based adverse event identification has become essential. The age-old adage, “First, do no harm,” remains at the forefront of healthcare institutions worldwide. Unfortunately, there are many reasons why harm happens, and many studies including a landmark NEJM study point to a rate of approximately 1 in 4 hospital patients experiencing some level of harm during their stay.
The good news is that a method harnessing EHR-based adverse event identification has been shown to be transformative – moving risk management, which can be nothing more than case management, to actually identifying and reducing, if not eliminating risk.
Healthcare institutions can minimize indemnity payouts, reduce legal expenses, and avoid financial risk in ways not possible when relying on event reporting or other inaccurate, untimely, and often unactionable data sources. Health systems are particularly hungry for accurate, timely, and actionable data that helps measure & manage clinical risk, especially as many are establishing captives and trusts.
Here we delve into three fundamental benefits of real-time safety surveillance and its significant impact on medical malpractice for hospitals.
Fundamental Benefits of Real-Time Patient Safety Surveillance for Med Mal
- Minimize Indemnity Payouts: In a post-pandemic world, hospitals have seen a spike in medical malpractice claims, putting their finances at risk. The Pascal VPS system stands out by detecting serious harm levels at ten times the rate of traditional event reporting. This proactive tool allows hospitals to spot potentially compensable events (PCEs) rapidly, often even before they occur. The result? A considerable decrease in financial burdens, freeing up funds for improved patient care and quality initiatives.
By closely monitoring patient safety & risk events and identifying patterns of such, the platform assists in recognizing and addressing potential risks promptly. This proactive approach can significantly reduce indemnity payouts by preventing adverse events from happening in the first place, or at least reducing the severity of these events. Ultimately, this translates into a substantial cost-saving for hospitals, allowing them to allocate resources more effectively towards patient care and quality improvement initiatives.
- Reduce Legal Expenses. Engaging in lengthy and expensive legal battles can drain hospitals of valuable resources that could otherwise be invested in improving patient outcomes. Pascal Community Collaborative data show that, if a case extends longer than two years, legal expenses increase on average by over 80%.
Pascal VPS solution equips healthcare providers with comprehensive and real-time data analysis capabilities, enabling them to make informed decisions proactively, within hours of an event – not when a claim is brought weeks or months after the fact, as is often the case. By leveraging Pascal’s technology, hospitals can proactively identify and resolve potential patient safety issues, minimizing the likelihood of legal action.
- Harness Actionable Insights from Real-Time Data. With Pascal VPS, hospitals have a treasure trove of real-time data at their fingertips. This system delves deep, capturing root causes and underlying factors leading to significant harm events, far surpassing the insights gained from mere claims data evaluation. Leveraging this data, medical facilities can proactively identify risk patterns, evaluate protocols, and even determine training needs. In essence, it’s a proactive approach to ensure optimal patient care and safety.
Stay tuned for an in-depth look at fundamental benefit #3 in an upcoming post.
The integration of EHR-based adverse event identification techniques into clinical methodologies is heralding a new era in healthcare. By proactively identifying and addressing potential risks through the use of clinically validated adverse events outcomes based on real-time EHR data (“AE Outcomes”), hospitals and health systems can mitigate the likelihood of harm events, resulting in improved patient care and financial stability.
This technology-enabled clinical methodology is revolutionizing the healthcare industry by empowering hospitals to enhance patient safety and, using the same data stream from the same investment, reduce indemnity payouts and legal expenses.
The Pascal VPS solution serves as a catalyst for continuous improvement across the enterprise, benefiting any function that is impacted by adverse events. Pascal VPS enables hospitals to make data-driven decisions and drive positive change in the realm of patient safety, risk, and quality – constituting a transformative step towards a safer, more efficient, and more equitable healthcare system for all.