It could just as easily go the other way, though. We now have enough experience to know that most people who catch COVID-19 can safely convalesce at home with only supportive treatment, and one of the best predictors if the patient will get into trouble with the disease are the vital signs when they first present. Knowing all the resources that a COVID patient will consume plus the fact that elective procedures have to stop once a hospital's COVID burden is too high, there's actually a pretty significant incentive not to admit.
But that's an individualized decision that needs to be made between the ER attending, hospitalist and bed manager.