Patent ID: 8370171

Claim:
A method implemented on a computer system for assigning a risk rating to a medical product, the method comprising: using the computer system programmed with an algorithm for assessing one or more threats associated with the medical product, wherein assessing one or more threats associated with the medical product includes determining a probability of the threat occurring, and using the value of the probability of the threat occurring to determine and assign a threat value to the threat and storing the threat value on a readable medium, and wherein determining the probability of one or more threats occurring comprises pooling the probability of multiple threats occurring to give a pooled probability and assigning a single probability value for the pooled probability of the multiple threats; using the computer system programmed with an algorithm for assessing the level of experience with the medical product, wherein assessing the level of experience with the medical product includes assessing the level of experience with the medical product based on a level of usage of the product, assigning an experience value to the level of experience, and storing the experience value on a readable medium, wherein the level of usage of the medical product comprises years on the market, number of prescriptions, number of patients studied during the clinical trials, number of patients taking the product, and number of countries in which the product has been approved and marketed; and using the computer system programmed with an algorithm for assigning a risk rating for the medical product to provide an indication of risk associated with the medical product, wherein the risk rating for the medical product is assigned based on the threat value and experience value and the computer system is programmed to display the resulting risk rating on a display.