₱6B released under PhilHealth's program expediting payment of hospital claims

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Metro Manila (CNN Philippines, June 19) — The Philippine Health Insurance Corporation has so far released over ₱6 billion in claims under its two-month-old program that aims to ensure hospitals have enough funds to continue operations amid the pandemic, an official said Saturday.

The debit-credit payment method (DCPM) facilitates the settlement of accounts payable to healthcare facilities in areas identified by the Inter-Agency Task Force as high or critical risk for COVID-19.

"Under the DCPM ay nakapaglabas na tayo ng mga around ₱6.3 billion. Around 206 institutions ang nag-avail," PhilHealth spokesman Shirley Domingo said in a media briefing.

[Translation: Under the DCPM, we disbursed around ₱6.3 billion. Around 206 institutions availed.]

To qualify for the program, healthcare facilities must have in-process claims for PhilHealth COVID-19 packages received by the state-run insurer from March 8, 2020 to April 7, 2021. They should also have no balance on record under the Interim Reimbursement Mechanism, or the cash advance program for medical facilities during this coronavirus pandemic.

"Tinitingnan po natin yung 60% of in-process good claims at rini-release na natin agad 'yun sa hospitals,"

[Translation: We look at 60% of their in-process good claims and immediately release the payment.]

The remaining 40% will be disbursed following the full compliance with existing claims processing requirements and reconciliation of the 60% of the receivables initially paid to a medical facility, according to PhilHealth. The Oxford Dictionary of Accounting defines reconciliation as the process of "confirming the reliability of a company's accounting records by regularly comparing balances of transactions."

The payments for private facilities are subject to 2% withholding tax, PhilHealth added.

Those eligible that want to avail of the DCPM just need to submit a letter of intent, Domingo said.