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COVID-19 Testing: It Pays for Itself

April 8, 2021
Strategy

For companies who are facing the question of how to reopen safely & securely, but are also worried about the costs of implementing a new corporate testing program, the answer is clear: “It pays for itself,” Dr. Michael Mina, a Harvard University epidemiologist who has argued for more COVID-19 testing nationally, said in a recent article in the NY Times. “Tests are one of the easiest, least burdensome things we could do.”

Frankly, this is why Wellstand Health exists. We are focused on ensuring that any business, across any industry has access to affordable and effective COVID-19 testing programs.

So how does it pay for itself? Well, to explore the costs of launching a testing program for your business, we first have to explore the opportunity costs of not testing. 

1: Let’s take the difficult step backwards and consider the costs of the last year of this pandemic.

  • Globally, we have lost an unfathomable 2.8 Million people to this horrific pandemic. The US represents the largest number of deaths globally at over 550,000
  • The U.S. economy lost 22 million jobs from February to April 2020 at the peak of the shutdown, with an overall decrease of 2.3% to the GDP in 2020. 

These are astounding numbers that we all know too well at this point; the economic & human impact of COVID-19. Numbers that continue to grow but can be helped by increased testing.

2: As businesses try to balance empathy for their staff & community with a need to re-open, let’s consider the costs of deciding not to re-open.

3: For those businesses who have already re-opened or plan to reopen soon without a comprehensive testing program, what happens in the nightmare scenario where the reopening leads to one missed infection. Can your business afford to misfire on your ropening plans? Can you?

We cannot think about the costs of implementing a testing program, without understanding the opportunity costs of failing to re-open or having to shut down again due to one missed infection.

Josh Brammer, CEO of Wellstand Health, explains “It’s hard out there. There is pressure to re-open but not a lot of help out there to guide businesses through the reopening process.” Brammer continues, “We understand that not every business has budgeted for a testing program, but the cost of one missed infection, one more shutdown, not to mention losing the confidence of your staff and community--that hat cannot be measured. We have to get this right.” 

If you’re ready to learn more about implementing or evolving your corporate COVID testing program, Wellstand is here to help guide you through this process. Let your business be part of the solution and contact us any time.

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