The Economic and Healthcare Impacts of Price Gouging During the COVID-19 Pandemic: A Review of Medical Equipment and Staffing

The COVID-19 pandemic exposed significant vulnerabilities in healthcare systems worldwide, particularly related to price gouging of medical supplies and staffing. This review examines the economic and healthcare impacts of price gouging during the pandemic, focusing on the inflation of medical equipment prices and the rising cost of temporary healthcare staffing, such as travel nurses. Drawing on empirical evidence from various studies, the review highlights how inflated prices for ventilators, masks, and other essential items placed immense financial pressure on hospitals. It also shows how the surge in travel nurse wages exacerbated staffing shortages and increased operational costs for healthcare providers. In addition, the review identifies gaps in current price gouging laws, which were insufficient to regulate such widespread exploitation during a national crisis. The findings emphasize the need for stronger federal regulation to protect healthcare systems and ensure equitable access to resources in future public health emergencies. The review concludes that addressing price gouging in both medical equipment and labor markets is crucial to safeguarding healthcare infrastructure and mitigating disparities in healthcare access for vulnerable populations.