Despite Misorcares, 8 hospitals post growth in revenues

THE eight capitolun hospitals in the province posted a collective growth in net income despite the Misamis Oriental Care System (Misorcares) program that gives beneficiaries zero-payment.

Misamis Oriental Gov. Yevgeny Vincente Emano said the eight hospitals earned P69.5 million from July 2014 to June 2015 or during the first year of Misorcares program, an improvement compared to their P65.2-million combined income during the July 2013-June 2014 period when Misorcares was not yet implemented.

Emano was criticized for the Misorcares because of its “zero-billing, zero-payment” feature.
“The critics should eat their words. Not only do our hospitals earn but their earnings keep on growing,” Emano said.
He said figures from the report submitted by the Local Finance Committee would clearly show the income growth of the capitolun hospitals.

“These hospitals even earned more during the months when Misorcares was already in operation,” Emano said. “The hospital facilities are better. We have a good stock of necessary drugs and medicines, and our personnel are more dedicated. This is the reason why even if we have ‘nonevenue’ patients, our provincial hospitals are now the preferred choice of those in need of hospitalization.”

Emano said the capitol also earned more from both local and external sources during the last two years.
From July 2013 to June 2014, the capitol earned a total of P982.7 million. But the next 12 months or from July 2014 to June 2015, the earnings hit the billion-peso mark or a total collection of P1.1 billion.

Emano said it was an increase of 16 percent.
He attributed the growth to “hard work by our Local Finance Committee, and judicious planning and expenditures by our executives.”

He said the capitol generated P144.6 million through local sources from July 2013 to June 2014, and P215.9 million or an increase of about 34 percent from July 2014 to June 2015.

The local sources include taxes on business, regulatory fees, and receipts from economic enterprises, among others.
From external sources such as the Internal Revenue Allotment, lottery, excise tax on tobacco from July 2013 to June 2014, the capitol earned P838 million, he said.

Emano said the figures increased by 12 percent from July 2014 to June 2015––the capitol generated P950.1 million during the period.

He said the capitol’s perormance was a reason why Misamis Oriental was named as the second most competitive province in the country. (pio)