The Financial Impact of Medical Errors On Health Service Organizations Essay

The Financial Impact of Medical Errors On Health Service Organizations - Essay Example A definition of medical errors cited by Neilipovitz (2005) denotes it as "Both as the failure of a planned action to be completed as intended or as the use of a wrong plan to achieve an aim, whether or not the error results in harm" (p. 28). Neilipovitz (2005) notes that it is hard to measure the extent of medical errors as a problem in the healthcare sector. This is in regard to the fact that some of the medical errors do not elicit unfavorable effects or outcomes hence are not easily identified. However, many fatalities have been reported over the past due to medical errors. In fact, Neilipovitz (2005) asserts that between forty four thousand and ninety eight thousand fatalities are reported in the U.S. per annum. In order to explicate and understand the financial impact of medical errors in health service organizations, it is of significance to delineate the causes of medical errors. Medical errors according to the American Society for Healthcare Risk Management (ASHRM) (2011) may result from a number of factors such as ineffective communication, poor flow of information within a healthcare facility, inadequate staffing levels, as well as poor action plans and strategy implementation. These medical errors impact on all stakeholders and the society in general socially, physically, emotionally, and economically. According to Naylor (2002), more than fifty percent of medical errors are caused by prescription mistakes while more than thirty percent relate to how drugs are administered. For instance, if a physician does not have all the information relating to a drug, then he or she is more likely to give the wrong dosage, give wrong directions on how the drugs ought to be administered, and somet imes even give the wrong medication for a specific ailment. Medical errors may also occur when a physician does not take time to assess a patients medical history (Naylor, 2002).

Business Plan Research Paper Example | Topics and Well Written Essays - 500 words

Business Plan - Research Paper Example Customers would be able to connect to an employee of the company who in turn would manage the customer’s account. The company would maintain a flat structure of organization with efficient use of low cost solutions to meet customer’s demands. The core value of the company lies in the fact that the employees in the company can be connected from anywhere behaving as virtual neighbors. With targets to meet profits by the end of the fourth year from the commencement of the business, the company has plans to expand its workforce thereafter. Presently, the capital required for starting up would be managed from the partners and later on, additional amounts would be collected through loans and other agreements. The company has made detailed study on the different factors like seasonal factors, technological factors, other regulatory issues that may affect the business. This has helped it to be prepared accordingly. It wants to utilize the environment where social networking is widely being accepted and used, and thus wants to expand the business based on the market condition to serve the farmers. Geographically, Midwest has been chosen by the company as its target market, covering the area from the Sierra Nevada Mountains to the Mississippi River.