The costs for treating Covid-19 are considerably cheaper in Korea compared to the U.S., reports have shown.
According to a report from the National Health Insurance Service (NHIS), the average hospital bill for treating a severely-ill Covid-19 patient came to 70 million won ($57,562), while treating patients that need intensive care cost 11.96 million won.
The cost was cheaper for patients with mild symptoms --4.78 million won at general hospitals and 3.31 million won at medical clinics.
The research based its estimation on the severity of symptoms. Those with mild symptoms do not require additional therapy, severely-ill patients need additional oxygen therapy, and those in critical condition need machine respiration support or use extracorporeal membrane oxygenation (ECMO) devices.
It assumed that severe or critical patients received treatment in negative pressure isolation wards and required additional treatments such as tests, injections, respirators, and ECMO.
The research also showed that the average cost of treating the cost of severely-ill patients was 650,000 won a day, while those for mild patients were 260,000 won at general hospitals and 180,000 won at clinics.
Patients infected with the virus, however, do not pay any of the costs in Korea. Based on the Infectious Diseases Control and Prevention Act, the National Health Insurance Service covers an average of 80 percent of medical bills, with the central and local governments covering the remaining 20 percent.
Another report, published in the Journal of Korean Medical Science by Professor Lee Joon-kee at Chungbuk National University Hospital, said that the average treatment cost for children with Covid-19 was cheaper than that for adults.
To know the medical costs for children with Covid-19, the team analyzed 145 billing statements for pediatric patients receiving healthcare services because of Covid-19 from Feb. 1 to March 31.
The research showed that the average treatment cost for children with COVID-19 stood at $2,192. Out of the aggregate sum of $317,802, NHIS shouldered $280,090, or 88 percent. The NHIS coverage exceeded 80 percent in this case because the state health insurance body can cover a higher percentage of medical bills, depending on the patients’ severity and the healthcare services they receive.
These reports showed that Korea’s Covid-19 treatment costs were considerably lower than in the United States. Unlike in Korea, American patients also have to shoulder some of the burdens depending on their insurance status.
According to a recent analysis by independent nonprofit FAIR Health, patients hospitalized with coronavirus can expect to pay anywhere from $42,486 to $74,310 if they are uninsured or receive care that’s deemed out-of-network by their insurance company.
The report added that those with commercial insurance who use in-network providers, out-of-pocket costs will likely amount to $21,936 to $38,755, depending on the cost-sharing provisions of their health plan.
For those who have basic Medicare package, which provides health coverage to low-income adults, children, pregnant women, elderly adults and people with disabilities, the out-of-pocket costs are around $1,408. At the same time, those on Medigap policy, a Medicare Supplement Insurance, can partially or fully write off treatment costs.