Medical procedures delayed in response to the new coronavirus will likely be made up at hospitals and ASCs once the dust settles, Jefferies analysts told MarketWatch.
Three projections:
1. Healthcare providers could see a "modest" net impact for fiscal year 2020, as long as the spread of COVID-19 — which the World Health Organization has officially declared a pandemic — doesn't become full blown, Jefferies analysts said.
2. Some U.S. hospitals are canceling or postponing elective medical services, which could affect earnings for medical device manufacturers, hospital companies and drugmakers in the first half of 2020.
3. The U.S. reported 1,215 confirmed cases of COVID-19 and 36 related deaths as of March 12, but the size of the outbreak could be much larger than the figures indicate, as only 1,500 people in the country have undergone testing.