As the costs stemming from COVID-19 continue to climb, reinsurers are collaborating with healthcare executives on how to mitigate the impacts of the virus on the sector, and virtual health care tools are becoming increasingly commonplace.
COVID-19 is far from over. Looking at the nationwide numbers, there’s very little difference between the end of March and the end of May. Some states still haven’t hit their first peak yet, let alone a second peak, either because they re-opened when their case counts were still rising, or because they mistook where they were on the slope of the curve, and cases in fact plateaued before continuing to rise higher as states re-opened.
According to analysis from Guy Carpenter-affiliate Oliver Wyman, as of June 18, 40 percent of U.S. states had week-over-week growth in new daily cases, particularly in the South and the West. California, for example, has seen a relatively steady rise in active cases throughout the pandemic, while states like Texas or Arizona appeared to be at a plateau, but have seen rapid recent growth. In other cases, particularly rural states like Alaska, Idaho, or Montana, confirmed state-wide cases fell before rising higher towards what may eventually become a second peak.
Can people find a way to balance interacting with one another – at least economically – with the right public health measures to keep the virus from spreading too rapidly and overwhelming local hospital systems?
To help make sense of this question, Helen Leis, Partner in Oliver Wyman’s Health & Life Sciences practice, who has worked with the Centers for Disease Control and Prevention (CDC) to develop their pandemic preparedness and response protocols, shares her views on smart containment in a Q&A session.
Guy Carpenter has been developing a view of how COVID-19 may impact the medical (re)insurance market.