Financial loss of medical clinics resulted from the COVID-19 outbreak in Korea

Abstract

As the world is facing an infectious disease pandemic caused by coronavirus disease 2019 (COVID-19), medical institutions are experiencing significant financial losses. we attempted to estimate such financial losses through a survey of clinics that reported temporary closure due to COVID-19 to the Korean Medical Association. As a result, the data of 56 clinics were obtained. The average closure period was 6.7 days, and the overall number of related health insurance claims and loss of sales reached 13,408,000 Korean won (KRW) and 20,911,000 KRW, respectively, while daily losses reached 1,343,000 and 2,202,000 KRW, respectively. In addition, the monthly average health insurance claims and sales were compared to those of the same month of the previous year. In January, they slightly increased by 4.4% and 7.8%, respectively, whereas in February, they slightly decreased by 10.2% and 12.4%, respectively. In March, they significantly decreased by 46.8% and 49.8%, respectively, as COVID-19 was at its peak. Considering the financial losses of clinics that played a pivotal role in quarantine at the forefront of infectious diseases, the government should prepare a reasonable compensation plan for such losses.