DIGITALIZATION OF PRIVATE HOSPITALS AND EFFECTS ON THE ACCOUNTING SYSTEM

ABSTRACT

The study focuses on the digitalization of selected private hospitals in the Philippines and the effects of digitalization on their accounting system. The specific objectives are: to determine the status of digitalization among the participant hospitals, identify and analyze the particular challenges hindering the digitalization of the hospital’s accounting systems, identify the advantages gained from the digitalization of hospital accounting systems, and recognize the specific enhancements brought about by digitalization of the hospital accounting systems. This is qualitative research. Information was gathered from an open-ended survey questionnaire. The study’s respondents were 15 healthcare employees of 4 private hospitals, including IT personnel, an Accounting Head, an HR officer, an Executive Secretary, a Medical Director, a Finance Officer, Accountants, a Medical Director’s Office secretary, and a Medical Arts Building secretary. Challenges in digitalization include Slow filing of patient profiles/slow progress or transition, slow filing of patient profiles/slow progress or transition, slow internet connection, HMO accreditation, slow transfer of lab results from the main branch, and doubling recording. Advantages of the accounting system are faster processing of transactions, improved accuracy of financial records, better integration with other hospital systems, enhanced security of financial data, and streamlined billing and invoicing processes. Proper cost-benefit analysis is recommended at the level of the individual institutions as well as that of the greater Philippine Health System which operates on the background of the Universal Health Care Law. Ensuring a context-specific and appropriate transition is crucial for reaping the benefits of advancements in technology, especially in the healthcare sector.

KEYWORDS

Digitalization, impact of digitalization, private hospitals, accounting system, Phil. Health system