Potential Savings with the IVEA
With proper implementation of the IVEA, an average 250-bed hospital could save $49,600 on the annual costs of caregiver injury associated with ambulation.
Each year more than 35,000 nurses are injured on the job.[1] And nearly half of those who are hurt suffer musculoskeletal disorders related to overexertion and bodily reaction.[2]
Injuries related to patient handling not only exact a physical, emotional toll, they can also be costly. On average, a workers compensation claim related to patient handling costs $15,600,[3] and the cost to replace a nurse who leaves due to injury is between $27,000 and $103,000.[4]
In the future these injury-associated costs might also include fines. OSHA has indicated it could assess fines of between $7,000 and $70,000 in cases where hospitals didn’t take sufficient precautions to prevent caregiver injury.[5]
Patient handling has always been fraught with risk, but factors compounding the problem include an aging healthcare workforce, a trend toward heavier patients, and staffing ratios that can make it more difficult to find help to mobilize patients.
The IVEA was specifically designed to help mitigate these problems and facilitate your safe patient handling initiative. Because the IVEA organizes all the patient’s equipment on one stable platform, the caregiver can focus on the patient during ambulation, when the risk of injury increases. The IVEA also encourages the patient’s proper gait and posture to help reduce the risk of falls and helps improve ambulation rates to help patients build strength and self-sufficiency.
for average 250-bed hospital
With proper implementation of the IVEA, an average 250-bed hospital could save $49,600 on the annual costs of caregiver injury associated with ambulation.
[1] OSHA
[2] OSHA
[3] Aon Risk Solutions, “2012 Health Care Workers Compensation Barometer”
[4] Li, Y., and Jones, C.B., “A Literature Review of Nursing Turnover Costs,” Journal of Nursing Management, (2012)
[5] Rubenfire, A., “OSHA cracks down on healthcare,” Modern Healthcare, (June 2015)
Hall, M.F., “Looking to Improve Financial Results? Start by Listening to Patients” Healthcare Financial Management, (Oct. 2008)
The IVEA offers a simple, intuitive solution to improve outcomes, lower costs and boost patient satisfaction.
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