June 7, 2021
THE KEY TO HEALTH REFORM IS REDUCING CONSUMPTION:
Why Did Healthcare Spending Decline 8.6% During a Pandemic? (Jeffrey Tucker, June 07, 2021, Real Clear Markets)
The American Hospital Association estimated that the whole industry lost $202.6 billion in revenue between March and June 2020. By July, the AHA estimated the losses would be $323 billion by year's end.In the first half of the year, inpatient admissions fell by 20%, while outpatient visits collapsed by 35%. Visits to the emergency room crashed too, in some places by as much as 42%. By the fall of 2020, elective surgeries were down by 90% of where they would normally be.
Restoring out of pocket charges will similarly reduce unnecessary consumption.
Posted by Orrin Judd at June 7, 2021 12:00 AM
