Imagine scanning a syringe or IV bag and knowing with certainty that it contains the drug you want to administer. It’s the holy grail of medical safety, providing a level of security beyond manual checks or bar-codes. At Veriphi we’re about to make that a reality.
Medication errors are among the most common medical mishaps, harming millions of people globally every year. In New Zealand hospitals alone, medication error causes an estimated 150 patient deaths each year and is a potential contributing factor in 2,500, costing between NZ$158 and $411 million annually. In US hospitals, medication error injures 400,000 – 700,000 people each year and causes an estimated 7,000 deaths at a cost of US$3.5B – $5.6B per annum.
Intravenous medication errors account for over half of this total and are twice as likely to cause harm than from drugs administered via other routes.