The impact due to corona virus pandemic and the lock-down made a drastic change in the world economy, whether it may be a start-up or a long run company each and every sector are facing financial issues based on all the assessments here it is an assessment regarding the impact in the healthcare sector.
Yes, this COVID-19 eruption has severely wrecked the complete supply chain in the healthcare industry from Acquiring raw materials to Production and Distribution.
Is this Pandemic situation favor for Private Healthcare Providers in US
The Private Healthcare sector in US is completely prepared for conjuncture; it is also a tangibles that unlike other sectors healthcare sector face twin grievances.
Adding Extra Manpower, Equipment and other resources complete preparedness for the safety precautions to the hospitals.
Come up against a sudden drop on out-patients surgeries and international patients.
This sector has been observing business loss and this would be expected to extend for at least certain months in future, which results in severe impact on cash flow in healthcare sector in US.
Impact on various Health care Sectors in US :
The Impact of COVID-19 has been affected a Various Sectors in US includes, Medical equipment’s, diagnostics, pharmaceuticals the usage in these sectors are strike out a numbers in large but, the demand arises in production.
The Market of Ventilators is expected to grow 35% in US.
The usage of Mask increases 40% (i.e.) to meet about 89 million mask per month the production of N-95 mask reached 1.6 Million.
Medical Kit hits up to 20,000 per week affected areas in US.
Vaccines and drugs are being developed by many medical Researches, pharmacist for this pandemic situation in US.
Telehealth which serves a lot in relieving the burden of COVID-19 on hospitals it provides services like telecommunication, information services for treatment of corona virus or other health conditions during this pandemic situation.
How Covid-19 has Accelerated Tele-medicine:
There’s the assumption in primary care that you always had to have in-person contact, and that tele-medicine would be unsatisfactory, or wouldn’t fill the void. That’s been exposed
Health care providers in the U.S. have been inching toward making more services available via telehealthwhich serves a lot in relieving the burden of COVID-19 on hospitals it provides services like telecommunication, information services for treatment of coronavirus or other health condition during this pandemic situation.
COVID-19 Challenges in US and Government Response:
COVID-19 has strained healthcare capacity in areas of the country considered hotspots for the virus. Nowhere in the country is this more widespread than in New York. The state continues to struggle with the rapid spread of the virus and forwarding hospitalization rates. However, New York’s healthcare capacity has remained pliable as local, state-wise and federal aid has provided with padded support capacity by changing convention centers, hotels and even an area of Central Park into temporary hospitals. In other parts of the country, particularly California, Washington and states have allowed wipedout hospitals to reopen to increase capacity. Overall, the many measures taken to increase healthcare capacity in New York, Washington and California serve as models for prospective severe outbreaks in other areas of the country and accent the impact of rapid mobilization.
US CARES Act & It’s Preparedness
Law Signed on March 27, the $2.1 trillion Corona virus Aid, Relief and Economic Security (CARES) Act provides significant relief to the US Healthcare sector. The Significant provisions include:
$100.0 billion in grants to hospitals to cover healthcare-related expenses and lost revenues.
$27.0 billion for medical equipment and support research and development of COVID-19 vaccines, therapeutics and diagnostics.
$4.3 billion in grants to the Centers for Disease Control to facilitate testing and current federal, state, and local mitigation efforts.
The total number of hospital beds in the United States is about 924,107, according to the American Hospital Association. Therefore, the $100.0 billion in hospital relief will average $108,213 per hospital bed. Currently, the $100.0 billion is in the process of being distributed based on a hospital’s share of Medicare fee-for-service payments. Going forward, the gradual distribution of federal aid to hospitals will greatly increase the nation’s preparedness and support the continued fight against COVID-19.
Key Growth Opportunities in Healthcare segment after the pandemic:
The Global transformation Health Research team offer a comprehensive analysis to forecast of healthcare sector growth opportunists for healthcare segment and market offer pandemic
This obstruction has created various opportunities on the basis of short term and long term so it is purely based on our nature of work to grab the availing offers.
Conclusion:
We all now under the pandemic situation but we are all expecting a very bright upcoming days in future even though many crisis in both Economic and Health wise the only thing we all must have is hope and confidence and always have an awareness about the things what is happening around us, along with that precautions against virus also needed, so let’s all
Unitedly stand against corona, defeat it and laid a successful base for our financial success in each and every sector during the upcoming days and come out with flying colours with huge victory in every sector.
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