COVID-19 Economic Impact on Health Sector, Challenges, and Practical Strategies

Abstract

The coronavirus epidemic has affected the economies of countries and businesses in many ways. One of the sectors that has been one of the hardest hit in the economy is the health sector. Health systems are facing the most serious global pandemic crisis in a century. Most health systems – both in developing and developed countries - have faced a shortage of resources and capacities to meet the health needs of the people, even under normal circumstances(1, 2). In particular, the COVID-19 pandemic is putting most hospitals under unprecedented pressure. Although the Coronavirus (COVID-19) pandemic started with a health shock, it will eventually lead to an economic shock in hospitals. Following the removal and reduction of restrictions, reopening and reducing the observance of health and safety principles by the people, we are facing an increase in the incidence and hospitalization of patients with Corona virus.