Sumary of Data show ‘massive’ decrease in medical spending as COVID-19 pandemic evolved:
- Weekly aggregate medical spending by most commercial insurance customers and Medicare Advantage recipients in the United States dropped by nearly half as the COVID-19 pandemic progressed, data show..
- “Understanding how early spending changes varied by disease incidence and implementation of policies to limit transmission can inform expectations about health care spending as the pandemic evolves,”.
- Michael McWilliams, MD, PhD, a professor of health care policy at Harvard Medical School and general internist at Brigham and Women Hospital, and colleagues wrote in JAMA Internal Medicine..
- McWilliams and colleagues analyzed multi-payer deidentified claims from FAIR Health that spanned the first 14 weeks of 2020, with emphasis on spending from week 9 (ending March 3) to week 14 (ending April 7)..
- The claims were from approximately 75% of commercial insurance carriers and 50% of Medicare Advantage recipients..
- and 44.2% decreased spending in states that implemented social distancing policies early in the pandemic and 39.7% decreased spending in those that implemented these policies later….