CEO DATELINE - Hospital, dental groups warn of rising prices and shutdowns
CEO DATELINE - Hospital, dental groups warn of rising prices and shutdowns
- October 19, 2020 |
- Walt Williams
Associations representing both dentists and hospitals say the stress COVID-19 is putting on their sectors could mean higher prices in the future and fewer medical options as financially strapped medical facilities close down.
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The American Dental Association told USA Today that millions of Americans are continuing to put off dentist visits out of fear of COVID-19. The result will likely be higher prices for dental work, office staff layoffs and fewer options for dental care as more family practices shut down.
About 15% to 20% of regular dental patients say "they're not going to go back to the dentist until there's a vaccine or a proven treatment," Marko Vujicic, ADA's chief economist, told the newspaper.
Many hospitals also face a grim future as a rising tide of new COVID-19 cases threaten to stress their finances even further, according to Bloomberg News. Rural hospitals in particular were already in financial trouble before the pandemic, but the disease forced them to cancel or postpone many elective medical treatments that generated much-needed revenue. At the same time, the high rate of unemployment meant fewer patients as workers lost their employer-sponsored health coverage.
"It sort of all comes together as essentially a triple whammy," Aaron Wesolowski, vice president for policy research, analytics and strategy at the American Hospital Association, told Bloomberg.
AHA said the pandemic will cost U.S. hospitals more than $323 billion through the end of this year. It is asking Congress for further financial aid, including an additional $100 billion and full forgiveness of loans made under Medicare's accelerated payment program.
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