Continuity mistake: At end of the movie, Rob Lowe lights two cigarettes when he is in Demi Moore's bedroom. He offers Demi one and she refuses. Rob the takes a cap and puts out of the cigarette, but now the other cigarette he lit is completely disappeared. There is only one cigarette resting in the cap and he does not have the other one in his hand.
Continuity mistake: When the group is first entering St. Elmo's bar after bailing out Rob Lowe, as they enter the bar Judd Nelson is not wearing or carrying a jacket. In the next scene in the bar he is putting on his suit jacket he was wearing earlier at the hospital. (00:10:00 - 00:11:00)
Factual error: When Kirby sees Dale at the ER, he says "You were a senior when I started at Georgetown." That's just three years between them and the gang just graduated from Gtown a few months ago. Dale should still be in med school, years away from becoming a doctor.