In light of the COVID-19 pandemic, experts anticipate health care costs will rise. The Kaiser Family Foundation estimates the cost of treating a patient with COVID-19 to be more than $20,000, with the total climbing to $88,000 for patients who require ventilator support. In April 2020, a Health Affairs article estimated that $163.4 billion in direct medical costs could result from the pandemic.
During the outbreak and subsequent shutdowns, hospitals and patients deferred non-emergent procedures so providers could focus on COVID-19 care. This helped reduce the potential exposure to and spread of the virus; however, deferring care could also lead to complications and increased medical costs down the line. In addition, many companies have been impacted financially by the pandemic. As a result, during a time when health care costs are expected to rise, companies may have less wherewithal to endure the increased financial burden.
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