Heart Center reverses 2020 deficit with P472 surplus in 2021

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THE Philippine Heart Center (PHC) is back in the black with a P472.87 million surplus in 2021 after posting a P162.27 million deficit in 2020.

A report released by the Commission on Audit last April 11 showed PHC’s rebound relied on a surge in service and business income that rose P2.263 billion last year from P1.6 billion the year before.

During the year, it also received P1.8 billion in government subsidies.

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Earnings from hospital fees in 2021 reached P3.016 billion but went down to P2.19 billion after deducting free services for in-patient and outpatient treatments, PHC employee privileges, no balance billing, Z benefits package of the Philippine Health Insurance Corporation, and discounts for government employees, senior citizens and patients with disabilities.

PHC also beefed-up revenues from dormitories, parking fees, lease of commercial spaces, fines and penalties and interest income which provided an additional P73.28 million.

Donations received during the year amounted to P136.21 million, all in the form of supplies and other items.

Total operating expenses in 2021 climbed to P3.757 billion due to compared to P3.31 billion the previous year due to increases in personnel services (PS) up P1.737 billion from P1.704 billion year on year and maintenance and other operating expenses (MOOE) up P1.74 billion from P1.357 billion over the same period.

As of December 31, 2021, the PHC had a total of 2,375 personnel complement composed of 2,061 permanent and 314 contractual employees.

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