Patient safety is a main dimension of healthcare quality, considering minimizing, reporting, and analyzing incidents that often lead to avoidable adverse effects. Patient falls among the elderly is a common challenge. To explore strategies for preventing patient falls, a review of literature and a qualitative analysis was conducted. Five strategies were identified: Patient and Staff Education; about risk factors and best practices, Patient Exercise; strengthening body muscles and improving balance, Diagnosis and Treatment of Medical Conditions; vision and balance, Enhancing Surrounding Environment; beds, flooring, rails, and passageways, and Using Information Technology; monitor, alarm, and give feedback on falls and risk situations. Many of the multicomponent programs proved to be cost-effective, considering the extended stays, increased complications, and higher costs of caring for injured patients. The utilization of innovative approaches of big data mining to explore reasons, circumstances of falls, and ways of reducing them are recommended through further research.