Alongside a health care crisis, COVID-19 has brought along with it an economic crisis. In the last 2 weeks of March, around 10 million people registered for unemployment insurance which is very high in comparison to any previous month numbers. It is even estimated that the U.S. economy will shrink to about 25% during this financial year's second quarter. The U.S. has already entered a recession period and possibly heading towards a depression. Some experts claim that the economies could surpass the great economic depression growth rate which was somewhere around -15%. If we go back to history, we hardly find the Medicare industry been hit by any sort of recessions. As individuals get sick both during good and bad times and hence demand for healthcare is nearly uniform across the business cycle. Moreover, health insurance limits the out-of-pocket expenses for attention that people face; thus, many infected people—at least those with health insurance—can nevertheless manage to vi...
The Corona virus has touched almost all the continents where there is human life possible. The virus has such adverse effects that it can bring the world economy to a halt. A pandemic that originated from the Wuhan city in China is now rapidly spreading across the state and the world. There has been turmoil situation across the world and now the epicenter of the disease has been shifted from China to Europe. The economic fallout could bring recessions in the major world's economies like China, Japan, Germany, France, etc. A study gave in its report that around $3 trillion would be the economic burden of the virus over the world's GDP. It is more than the entire GDP of the UK. With so much fuss about the trajectory of the epidemic, it is hard to define its definite impact, even governments and forecasters couldn't reach a precision. But drawing from China's experience, evaluating the case distribution in various countries, assessing the risk it could enfo...