9 ways coronavirus can wreak havoc on patient finances

Alia Paavola - Print  | 

COVID-19, the disease caused by the new strain of coronavirus, has the potential to jeopardize Americans' physical health as well as their financial well-being according to Business Insider.

Here are nine ways: 

1. While the CDC isn't billing for coronavirus testing, patients will likely be on the hook for charges, such as the trip to the emergency room or urgent care. 

2. For an out-of-network emergency room visit, procedures related to coronavirus testing and treatment could range from $441 to $1,151, according to Business Insider.

3. For an outpatient office visit to an out-of-network facility, charges would range from $149 to $327, according to Business Insider.

4. The average deductible for Americans who get health insurance through their employer is $1,655. Because the coronavirus is spreading early in the year, many workers may not have hit their deductibles yet.

5. About 27 million Americans, or 8.5 percent of the U.S. population, don't have health insurance, according to the report. Of the uninsured, 28 percent said they had difficulty paying off a medical bill in the last year.

6. Americans also may be affected by surprise billing, which occurs when a patient receives care at an in-network facility, but receives a higher bill than expected because a physician who treated them or handled their tests may be out of network. Surprise billing hits 1 in 6 ER or hospital patients.

7. According to Business Insider, if an in-network facility is full and diverts someone to an out-of-network one, a patient could be stuck with a bill exceeding $10,000.

8. More than 25 percent of U.S. adults have delayed getting medical care for financial reasons, according to the report.

9. A Miami resident was charged $3,270 for coronavirus-related treatment. He received a bill that included charges of $1,261 for virus and flu testing and $819 for an ER stay before his copay. With his co-pay applied, he was stuck with $1,400 in out-of-pocket costs, according to Business Insider.

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CarePoint lays off 45 corporate workers after sale talks stall

 

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