Beyond Prices in COVID tests
Pandemic Minute: how is a COVID test like a laptop?
Well, “novel” COVID-19 has been around for a while now, and we’re consuming more tests than ever. Often, market forces help new technology to become better and cheaper- consider how laptops are faster, lighter, and less expensive. In healthcare, on the other hand, strict regulation, limits on competition, and insurance often prevent prices from dropping.
However, don’t despair. Market forces are still present! There are non-price qualities of COVID-19 tests the market can influence. The time required to get and know your results has dropped dramatically with at-home tests. This is both more convenient and a quality improvement since quicker infection status enables faster quarantine. Since the first “brain tickler” tests, quality for patients has improved through less-intense nasal swabs and saliva collection, as well as for providers because saliva tests remove the provider from close contact with infected individuals. (If this all reminds you of shortages, you can check out that lesson here.)