FINANCIAL RISK MANAGEMENT EFFICIENCY AT WANGPONG HOSPITAL

Abstract

This retrospective descriptive study aimed to evaluate the efficiency of financial risk management at Wang Pong Hospital, Phetchabun Province, using financial planning reports (PlanFin) and an accrual-based accounting system during fiscal years 2022–2024. The sample consisted of 45 purposively selected internal financial records. Research instruments included three tools: financial planning reports, Risk Scoring (based on seven financial risk indicators), and Grade Plus (financial management efficiency) criteria. Data were analyzed using descriptive statistics, including frequency, percentage, ratio, proportion, and mean. Results revealed that financial risk levels increased from 0 in 2022 to 1 in both 2023 and 2024, due to declining net profit and net reserves. Grade Plus evaluations resulted in A– in 2022, A in 2023, and B– in 2024, yielding Matrix Grading scores of 0A–, 1A, and 1B–, respectively, indicating growing financial vulnerability. Although risk levels did not further escalate, the hospital failed to meet standards on Operating Margin and Return on Assets (ROA) in 2024. Policy recommendations include increasing revenue through specialized services, aligning expenses with cash flow, and strengthening receivables and trade payable management to enhance the financial stability of community hospitals.