Argumentative-Essay about the rampant accounting fraud of Philippine Health Insurance Corporation PDF

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Argumentative-Essay about the rampant accounting fraud of Philippine Health Insurance Corporation. Argumentative-Essay about the rampant accounting fraud of Philippine Health Insurance Corporation...

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1 The Rampant Accounting Fraud Of Philippine Health Insurance Corporation

The rampant accounting fraud of Philhealth Corporation has increased the corruption cases in the Philippines. This is a very controversial social issue since it will affect our country's growth in all aspects. Despite the corporation's accounting fraud issue, the corporation has been helping finance several hospitals to operate for the communities. PhilHealth Corporation gave 1.49 billion to help 51 hospital to fund their expenses, they also give several healthcare programs to the communities and despite their ongoing fraud case, they still believe that the corporation is not stealing from the funds for the people.

However,

the

accounting

fraud

of

Philippine

Health

Insurance

Corporation has become rampant to the point that it should be stopped. PhilHealth provided funds for hospitals to function well and fund their operating expenses during COVID-19 pandemic. However, fifty-one hospitals still got ₱1.49 billion from Phil Health despite having records of fraud cases. A news article made by CNN Philippines staff stated that PhilHealth finance fifty-one hospital with an amount of 1.49B. PhilHealth is suspended to release the cash advances, pending review of the program. The agency is also being questioned for including dialysis and maternity clinics that did not treat COVID-19 cases. However, 51 hospitals received large sums of money to manage their operating expenses to function well. PhilHeath said that the ongoing issue about their accoutning fraud is still questionable since they believe that the loss of 15 billion is due to Covid-19 not on fraud. Yet, Philippine Health Insurance Corp.'s executive committee has stolen some P15 billion from the agency using different fraudulent schemes. A news article by One News Ph stated that a "mafia" involving the entire executive committee of Philippine Health Insurance Corp. has stolen some P15 billion from the agency. This is through using various fraudulent mechanisms, resigned Thorrsson Montes Keith, PhilHealth anti-fraud law officer, alleged during a Senate investigation on Tuesday, Aug. 4. However, a PhilHealth official stated that the loss of a 15 billion money is because of what Covid-19 brought not on fraud.

2 Many hospitals that were affected by Covid-19 received a large help to function their faicilities efficiently. However, PhilHealth provided funds to some hospitals with large sums of money within a few days but others didn't and that is unfair. It was questionable for lawmakers that certain institutions that are non-COVID-19 health facilities. And or that have reported few cases of COVID19, received significant sums of money and received payments relative to others within only a few days. On the other hand, it is clear that many hospitals that were affected by Covid-19 received a great help and were able to manage to function their several facilities that facilitates Covid-19 patients. Three reasons of rampant accounting fraud of PhilHealth were discussed to inform the audience where the budget made by the government that came from the people is headed and for people to be aware that this issue has become rampant. The rampant accounting fraud by PhilHealth helped many hospitals to function and fund their operating expenses especially during this pandemic. However, Rampant Accounting Fraud of PhilHealth should be stopped. It will greatly affect the Philippines' economic growth and the country as a whole especially the countrymen. How can the Philippines protect and help its people if some government agencies will steal from the funds that are for the Filipinos. This will increase the corruption cases in our country and it won't help us to develop. Thus, this accouting fraud made by PhilHealth should be stopped....