A DESCRIPTIVE STUDY OF THE DEBT COLLECTION SYSTEM OF FAR EASTERN UNIVERSITY - NRMF MEDICAL CENTER

ABSTRACT: The present system of the collection of Far Eastern University - NRMF Medical Center was illustrated with reference to the existing collection method used, total amount of credits, revenues and uncollected receivables from January to September 2007 and the different factors affecting the debt collection system. The system included all hospital sections or divisions identified to be directly or indirectly involved in the debt collection system, which includes the finance office, credit and collection unit, admitting department, accounting department, social service department and hospital affiliated collection agency. Data collected were from interviews of the personnel of the credit and collection unit. It also included data collected from observations among members of the collection unit and other hospital sections involved in the debt collection system and data taken from records of credit, revenues and receivables from January to September 2007. It was shown that patients are paying slowly as evidenced by the increasing uncollected balance percentage. This can be attributed to the different factors affecting the debt collection system - starting from the admission up to the collection agency. Any problem affecting any of these sectors may compromise the entire system, thus, influencing the efficiency of the debt collection system.

Department of Community & Family Medicine