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Wrongcog
Acknowledging that much is still unknown, this pictograph from Imperial College shows that whilst 60% might contract the virus, 60% of population won't be hospitalized. It's also worth remembering that the deaths are unlikely to be in addition to, with elderly patients (over 60) currently accounting for ~80% of deaths. (According to the NHC PRC transcript)
Any elderly patient with COPD/Diabetes/IHD/CKD are high risk anyway. Pneumococcal pneumonia causes something like 40, 000 hospital admissions a year, and kills 20% of those!
So whilst it is serious, unless you are in an 'at risk' category or living in an area where the panic buying and such affects your day to day, I would continue as normal with some common sense personal infection control techniques.
If it had the mortality rate of Ebola, then it would be time for out and out panic.