The Efficiency of Financial Risk Score Level Management in Phetchabun Hospital

Abstract

This research aims to study financial risk management efficiency in Phetchabun Hospital through Retrospective descriptive study method. The purposive sampling was applied to collect data included financial planning data, data of accrual accounting system in fiscal years 2015-2017. Statistics used for data analysis included percentage, frequency and ratio. The results from the analysis of data were as follows: (1) Financial plan analysis revealed that total revenue in 2015-2016 was higher than expected targets by 0.29 percent and 3.86 percent respectively. However, there were by -0.86 percent lower than target set in 2017. Total expense in 2016 was below the target by -1.10 percent, while there were higher than the target in 2015 and 2017 by 2.68 and 6.90 respectively. (2) The findings from risk assessment through Financial Risk Score indicated that group of asset liquidity and time period of getting into financial, the severity weighted value were equal to 0 in all 3 fiscal years. And group of financial stability were at 0, 0 and 1 severity weight value in 2015 – 2017 respectively. The overall of financial risk degree in 2015 – 2017 were 0, 0 and 1 respectively. (3) The results of efficient financial management showed that the profitability efficiency was lowest at -6.81times in fiscal year 2017. The lowest return on assets was -2.98 times in fiscal year 2017. The average collection period of Local Administrative Organization, Social Security, UC-AE UC-HC, UC-DMI and UC-OPD outside the CUP were 60 days in fiscal year 2017. The average payment period for payables including pharmaceuticals, medications, non-medications and medical supplies were more than 90 days at the end of the fiscal year 2017. It was found that fiscal year end in 2017, the inventory management meet the criteria. Financial status following the 7 Plus Efficiency Score in 2015 - 2017 was 0C, 0C and 1D respectively.

The recommendations were raising income policy and improving fiscal management performance by developing accounts receivable, debt collection, balancing the cash flows for a good corporate image of repayment.