White Paper: The human cost and financial impact of misdiagnosis (2016)

Summary

Medical misdiagnosis, in the form of inaccurate, late, and delayed diagnoses, is an ongoing problem in the United States. Not only do these diagnostic errors present an ongoing risk to the health and safety of patients, but they also cost the economy billions of dollars.

This paper from Pinnacle Care summarises the key research findings on the frequency, human cost, and financial impact of these diagnostic errors, while providing new data on the value of second opinions. An extensive Institute of Medicine (IOM) report underscores the importance of this with its conclusion that most Americans will receive an inaccurate or late diagnosis at least once in their lives, often with life-threatening consequences.

Content

Key messages

• Most Americans will experience a diagnostic error at least once in their lifetime.
• Patient deaths due to these errors are estimated at 40,000 to 80,000 per year.
• Diagnostic errors and other inefficiencies cost the U.S. economy $750 billion each year.