The average hospital spends about $1 million a year to run its credentialing program. However, these programs help hospitals avoid adverse events, which cost the average hospital $5.1 million each year, according to an infographic from IntelliCentrics.
Comprehensive credentialing programs help keep sick visitors, vendor representatives and others away from patients. This could help reduce the number of hospital-acquired infections that cost the average hospital $4.4 million per year, according to the infographic. Credentialing could also reduce the number of non-HAI adverse patient outcomes that cost the average hospital $700,000 per year, including falls, violent crimes and diagnostic and theraputic incidents by monitoring who comes in and out of the hospital.
Theft costs the average hospital $600,000 per year. This figure could be reduced by performing background checks on people who enter the hospital, according to the infographic.
Additionally, credentialing staff, especially to ensure safety steps like flu vaccine compliance, could help the average hospital avoid up to $100,000 in additional costs from healthcare worker sick leave, according to the infographic.
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