We’ve talked a lot about quality since launching this blog, but most of the discussion has been specific to the healthcare industry. It’s always interesting to see a well-trodden issue through the eyes of an outsider, which is what we have with this article in Quality Digest summarizing the “Year in Quality.” Here’s an excerpt:
Other low points in human endeavor centered in the medical industry. Findings from a study commissioned by the Society of Actuaries (SOA) and completed by consultants with Milliman Inc. estimated that measurable, avoidable medical errors cost the U.S. economy $19.5 billion in 2008. Having mulled over the data for a couple of years, 87 percent of the actuaries concluded that reducing medical errors is an effective way to control health care cost trends for the commercial population; 88 percent believe this to be true for the Medicare population.
What other healthcare topics attracted the eye of a publication that devotes a lot more pages to Six Sigma than actuarial science? The Institute of Medicine’s effort to weed out waste and the emergence of new nanotechnology that can help speed diagnostic capabilities also made the cut.