92% of the home health agencies have lost revenue due to COVID-19

The pandemic:

At the end of 2019, a series of pneumonia cases of unknown cause emerged in Wuhan,China. Corona Virus Disease 2019 (COVID-19) is an RNA virus, with a typical crown-like appearance under an electron microscope due to the presence of glycoprotein spikes on its envelope. The number of confirmed cases is constantly increasing worldwide and after Asian and European regions, a steep increase in cases is currently being observed in low-income countries. Till today’s date we have 6.42M of confirmed cases around the globe with 383K deaths. It is problematic to quantify the exact size of this pandemic as it would necessary to count all cases including not only severe and symptomatic cases but also mild ones.

It’s adverse affects on global economy:

Unfortunately, to date, there is not a global and standard response to the pandemic and each country is facing the crisis based on their own possibilities, expertise and hypotheses. Thus, there are different criteria for testing, hospitalization and estimating of cases making it difficult to calculate the number of people affected by epidemic. The clinical spectrum of COVID-19 lies under two major forms either asymptomatic or paucisymptomatic forms to clinical conditions characterized by severe respiratory failure that necessitates mechanical ventilation and support in an intensive care unit (ICU), to multiorgan and systemic manifestations in terms of sepsis, septic shock, and multiple organ dysfunction syndromes.

Economies will be affected and quantifies the likely magnitudes of the effects under a range of scenarios. It is explicit about the scenario assumptions, and the methods used to calculate the impact. With various means COVID-19 outbreak is affecting economic activity in the PRC, specifically in the rest of developing Asia, and the world. The bigger ones might lie as a sharp but temporary decline in domestic consumption in the PRC and other outbreak-affected economies, and possibly investment if the outbreak affects views on future business activity; declines in tourism and business travel; spill overs of weaker demand to other sectors and economies through trade and production linkages; supply-side disruptions to production and trade (which are distinct from demand-side shocks spilling over through trade and production linkages); with all that almost every home health care agency has been adversely affected and effects on health such as increased disease and mortality as well as shifts in health care spending. Due to a lack of the major resources, the panic of patients and the continued spread of the coronavirus despite widespread shelter-in-place orders, the situation has quickly snowballed for home health providers. Each of these are taken in turn. According to the latest survey reports, nearly 92% of respondents said their agency’s overall revenues were down because of the coronavirus. It is was mentioned by PQHH (Partner in Quality Home Healthcare), “Revenues are down. Admissions have been down. I think the whole health care system has taken a huge hit in different respects, but certainly home health care because of how the system has locked up for non-COVID-19 patients.”

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