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This seminar will be moderated by M-RCBG Senior Fellow Lisa
Robinson with guest Calvin Franz of Eastern Research Group. Email
firstname.lastname@example.org to RSVP.
Description: In 1999, the Institute of Medicine report, To Err is Human, estimated that 44,000 to 98,000 deaths may occur annually in U.S. hospitals from preventable medical errors. Spurred by this report, the U.S. Food and Drug Administration (FDA) proposed a regulation requiring bar codes on unit dose prescription product labels. While FDA cannot mandate the use of bar code technology in hospitals, the regulation was intended to prevent medication errors by facilitating adoption. ERG estimated the pharmaceutical industry costs to place such a bar code on all pharmaceutical products and also estimated the cost of hospital investment in bar code systems, including hardware, software, and potential productivity impacts, as well as potentially offsetting cost savings. In addition, ERG estimated the reduction in morbidity and mortality attributable to adverse drug events and willingness-to-pay to avoid such events, and the net benefits resulting from an increased technology adoption rate.
Presenter: Calvin Franz is a Ph.D. economist with 18 years’
experience performing economic regulatory and policy analyses for a
wide variety of clients, including the U.S. FDA, U.S. Department of
Health and Human Services, U.S. Department of Labor, U.S. EPA,
Brigham & Women’s Hospital, and Harvard School of Public
Health. Since completing the bar code project, Dr. Franz has
increasingly specialized in performing cost-benefit and
cost-effectiveness analyses of healthcare issues. As a member of
multi-disciplinary research teams, he has performed a cost-benefit
analysis of the adoption of computerized physician order entry;
estimated the cost-effectiveness of interventions to improve
colorectal cancer screening; assessed the cost of iatrogenic
injuries; and examined the impact of community-wide implementation
of electronic health records on healthcare utilization.