Long-term medical expenses triggered by adverse drug events: Focus on improving patient outcomes, lowering costs, and optimizing formularies
Side effects from drugs, vaccines, and devices approved by the Food and Drug Administration (FDA) are a major public safety concern.
Not only are ADEs a major cause of hospital admissions, they are also a frequent in-patient complication and are the fifth leading cause of death in the United States.
The true financial burden of a given medication can only be properly calculated by examining the costs associated with: 1) procurement, 2) treatment regimes, 3) healthcare provider expenditures needed to administer it, 4) downstream medical burdens from ADEs triggered by it.
While the industry has a good understanding of #1-3, a method for tracking costs associated with point #4 are lacking.