The Cost of Covid19 Pandemic for the US Healthcare System
The COVID-19 Crisis has rattled the world. While the action in most other spheres of business has come to a screeching halt or at least slowed down to a snail’s pace, the healthcare industry is frenetically fighting this dreadful virus from the frontlines. The US Healthcare system has faced many challenges in the past but never before had it encountered a challenge of such a catastrophic scale. The latest CDC reports have pegged the confirmed number of persons infected with the virus in the US at a startling 632,548 and deaths at 26,930. Even without data, we can plainly see that the cost of this crisis on our economy is going to be huge. The UN’s trade agency UNCTAD augurs that in 2020, the loss to the economy brought by COVID-19 can get as high as 1Trillion $. What will be the economic impact of the pandemic on our healthcare system that is already reeling under a heavy cost burden? The cost of the pandemic for Providers Hospitals are overwhelmed with the increa