Wide variations in hospital costs for COVID-19 patients were discussed in an article from Healthcare Finance News. The author cited claims research from February through August and revealed the average cost of hospital care varied by age and length of stay. Here are some mind-blowing figures from the article:
For patients without insurance or who received out-of-network care, average costs ranged:
- From $51,389 for patients between 21- and 40-years-old
- To $78,569 for patients between 41 and 60 years of age
Hospitalization charges for patients under 20-years-old without insurance averaged about $68,261. For people over 60-years-old, that figure was about $77,323.
For insured patients,
- the highest average amount paid to the provider was $40,208 for people over 60, and
- the lowest average amount paid for patients from age 21 to 40 was $26,152.
As expected, the average hospital charge increased the longer patients were there and costs continued to vary by age group. For those with stays beyond 15 days, hospitalizations averaged $980,821 for patients between 21 and 40 years of age and $460,989 for those over 60 years old.
The cost of hospitalizations, on top of any other required treatments for COVID-19, could total $546.6 billion for payers.