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The COVID-19 Run on Medical Resources in Wuhan China: Causes, Consequences and Lessons.
Yin, Gaofeng; Song, Hanning; Wang, Jian; Nicholas, Stephen; Maitland, Elizabeth.
  • Yin G; Dong Fureng Institute of Economic and Social Development, Wuhan University, Wuhan 430072, China.
  • Song H; School of Banking and Finance, University of International Business and Economics, Beijing 100029, China.
  • Wang J; Dong Fureng Institute of Economic and Social Development, Wuhan University, Wuhan 430072, China.
  • Nicholas S; Australian National Institute of Management and Commerce, Sydney 2015, Australia.
  • Maitland E; Newcastle Business School, University of Newcastle, Newcastle 2308, Australia.
Healthcare (Basel) ; 9(10)2021 Oct 13.
Article in English | MEDLINE | ID: covidwho-1470823
ABSTRACT
The COVID-19 run on medical resources crashed Wuhan's medical care system, a medical disaster duplicated in many countries facing the COVID-19 pandemic. In a novel approach to understanding the run on Wuhan's medical resources, we draw from bank run theory to analyze the causes and consequences of the COVID-19 run on Wuhan's medical resources and recommend policy changes and government actions to attenuate runs on medical resources in the future. Like bank runs, the cause of the COVID-19 medical resource run was rooted in China's local medical resource context and a sudden realignment of expectations, reflecting shortages and misallocations of hospital resources (inadequate liquidity and portfolio composition); high level hospitals siphoning-off patients from lower level health providers (bank moral hazard and adverse selection problem); patients selecting high-level hospitals over lower-level health care (depositor moral hazard problem); inadequate government oversight and uncontrolled risky hospital behavior (inadequate bank regulatory control); biased medical insurance schemes (inadequate depositor insurance); and failure to provide medical resource reserves (failure as lender of last resort). From Wuhan's COVID-19 run on medical resources, we recommend that control and reform by government enlarge medical resource supply, improve the capacity of primary medical care, ensure timely virus information, formulate principles for the allocation of medical resources that suit a country's national conditions, optimize the medical insurance schemes and public health fund allocations and enhance the emergency support of medical resources.
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Full text: Available Collection: International databases Database: MEDLINE Type of study: Prognostic study Language: English Year: 2021 Document Type: Article Affiliation country: Healthcare9101362

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Full text: Available Collection: International databases Database: MEDLINE Type of study: Prognostic study Language: English Year: 2021 Document Type: Article Affiliation country: Healthcare9101362