When comparing the cost of preventing one harmful event caused by medication errors using BCMA with the cost of providing patient care for the same error without BCMA, studies have shown that BCMA can reduce hospitals’ expenditures. In particular, one study has shown that the price of preventing one harmful medication error is $2,000 with BCMA as compared to an approximate price range of $3,100 to $7,400 without BCMA (Sakowski & Ketchel, 2013). Furthermore, another key study has also disclosed that after implementing BCMA, the hospital broke even in year 4 with net benefits of $3.49 million in year 5 (Maviglia et al., 2007). Hence, these results have consistently shown that hospitals, where BCMA was implemented, posted a positive net return of investment after 5 years of
When comparing the cost of preventing one harmful event caused by medication errors using BCMA with the cost of providing patient care for the same error without BCMA, studies have shown that BCMA can reduce hospitals’ expenditures. In particular, one study has shown that the price of preventing one harmful medication error is $2,000 with BCMA as compared to an approximate price range of $3,100 to $7,400 without BCMA (Sakowski & Ketchel, 2013). Furthermore, another key study has also disclosed that after implementing BCMA, the hospital broke even in year 4 with net benefits of $3.49 million in year 5 (Maviglia et al., 2007). Hence, these results have consistently shown that hospitals, where BCMA was implemented, posted a positive net return of investment after 5 years of