As the United States struggles to navigate through the effects of the COVID-19 pandemic, it faces several serious difficulties. Mass unemployment, heightened political dissension, and an economic recession just to name a few. However, the question that many American citizens are pondering is: How is healthcare going to be impacted? Experts predict a few drastic changes, and here we share some of their findings.
Healthcare Costs: Rising and Falling
Firstly, the costs to test, treat, and care for COVID-19 patients this year will be between $34 billion and $251 billion. This is most likely due to both the sheer density of potential COVID-19 patients and the confusing, often contradictory, information on the virus.
At the same time, the costs of U.S. healthcare this year will likely drop due to the postponement or cancellation of regular clinical services. As most know, the danger of spreading the virus has led experts to deem certain services as “non-essential.” Some medical practices such as routine check-ups or physical therapy may see a steep spike in postponement or cancellation rates because they may be regarded as non-essential as a matter of policy.
Healthcare Premium Increase
In tandem, healthcare premiums are likely to increase between 4% and 40%. This spike, coupled with the increase in unemployment, may make healthcare less affordable in general. Those who are seeking employment will, more than ever, pay very close attention to the healthcare benefits offered.
Searching For A Cause
The precise reason for these increases is still unclear, which may suggest the likely culprit after all: uncertainty. With healthcare specialists like the WHO sending murky signals and recommendations, along with a stagnant business economy that has been hit hard due to plummeting revenues, the road toward recovery seems hazy, at best.
Regardless, it’s utterly important that professionals in the healthcare industry do whatever they can to lower costs and increase efficiency. One way to do so is through the implementation of healthcare administration software. A proper administration software will provide seamless access to important records and documents, giving medical professionals more time to attend to their patients. Not only does this conserve time, but also thousands of dollars that would normally go to printed documents. By halving administrative costs, the United States could save $175 billion in healthcare costs, which would greatly contribute to investing more funds toward the fight against COVID-19.