Mitigating Financial Risk Collection and Bad Debt Management During COVID 19
Project Categories
Care Process & Redesign
Platform
Singapore Healthcare Management Congress
Cluster
SingHealth
31 December 2022
Mitigate financial risk of bad debt arising from foreign patients admitted due to COVID-19, ensure care continuity, track. Responding to changes requires a systematic and coherent approach to address financial risks and optimize outcomes.
Year Submitted: 2022
Published Date: 31 December 2022
Tags: Care Process ＆ Redesign, Risk Management, Cost Recovery, Operational Management, Financial Management
About this Content
Aims
Mitigate financial risk of bad debt arising from foreign patients admitted due to COVID-19, ensure care continuity, track patient whereabouts, and provide feedback to MOH for protocol improvements.
Background
Foreign patients admitted due to COVID-19 posed financial risks due to short stays, lack of insurance, and limited payment recovery options.
Methods
PDCA (Plan-Do-Check-Act) cycle was used. Engaged patients and optimized processes to recover costs.
Results
Recovered $1.0m out of $1.2m billed, achieving 83% collection rate.
Conclusion
Responding to changes requires a systematic and coherent approach to address financial risks and optimize outcomes.
Lessons Learnt
Systematic PDCA approaches help mitigate risks and ensure process improvements.
Keywords
Cost Recovery, Risk Management, Business Office
Innovators' Details
Innovators' Details
Healthcare Cluster(s) | SingHealth |
Organization(s) Involved | SingHealth Community Hospital |
Platform(s) | Singapore Healthcare Management Congress |
Healthcare Professional Group(s) | Healthcare Administration |
Applicable Specialty or Discipline | Healthcare Administrators |
Project Lead(s) | Amran bin Abdul |
Project Member(s) | Amran bin Abdul |
Connect with this contributor!
Amran bin Abdul - singaporehealthcaremanagement@singhealth.com.sg (opens in new tab)