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  • Advanced Analytics and Integrated Sensors Boost Growth in the US and Western European Next-Gen Patient Safety Solutions Industry
    Growth strategies driven by increasingly advanced and integrated tools

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    Patient safety is the cornerstone of high-quality healthcare and depends upon procedures linked to the detection, prevention, reduction, documentation, and evaluation of errors that otherwise can lead to adverse events, both preventable and non-preventable. Beyond the high volume or morbidity and mortality associated with patient safety adverse events, a significant cost burden is imposed on national healthcare systems. As a result, hospitals and healthcare settings in the United States and the 5 Western European countries analyzed in this study (i.e., UK, France, Germany, Spain, and Italy) are implementing advanced solutions to address the different types of adverse events associated with patient safety (injuries, errors, accidents, and infections). Moreover, medical technology (medtech) companies, hospital information technology (HIT) companies, and even leading players from other industries continuously undertake R&D efforts to introduce innovative technologies and solutions designed to reduce or eliminate patient harm.

    Several patient safety solutions exist in the market, but with great technical complexity and massive volumes of data, medical error trends are increasing like never before. Errors committed by healthcare staff, including clinicians, can range from improperly updating electronic health record (EHR) data and misspelling medication names to performing the wrong surgical procedure on a patient. Also, the impact of COVID-19 has not only increased the occurrence of these events, but introduced new infection risks. The entire range of patient safety errors that involves medical errors, pressure ulcers, sepsis, and healthcare acquired infections (HCAIs) are mostly preventable, unless the patient’s condition becomes critical.

    Next-gen patient safety solutions introduce artificial intelligence, predictive analytics, machine learning, deep learning, natural language understanding, and other emerging technologies to address adverse events in a more effective way, leading to impactful decision-making by clinicians, reduced morbidity and mortality rates, decreased cost burden, and high-tech solutions that take patient safety to new heights. Among the top goals of companies’ next-gen solutions are the detection of adverse events at an early stage, even before occurrence, to prevent them and reduce or eliminate clinician/nurse burnout, which is enabled by increased automation, accuracy, ease of operation, speed, and cost-effectiveness (in most cases).

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