ANALYSIS OF FINANCIAL PERFORMANCE OF STATE-OWNED PHARMACEUTICAL COMPANIES BEFORE AND AFTER THE IMPLEMENTATION OF BPJS KESEHATAN PROGRAM DURING THE PERIOD OF 2010-2017

• Main Author: Oktaviabri Hestiwati, Popy
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/38770
• Institution: Institut Teknologi Bandung

The need to get a proper health care security is one of the basic of human rights that should be equally given to every individual regardless of their social status and financial condition. UU No. 40/2004 about Sistem Jaminan Sosial Nasional (SJSN) is guaranteeing universal access to health care services for all the societies to fulfill the objectives of Universal Health Coverage (UHC). The government established BPJS Kesehatan and implemented Jaminan Kesehatan Nasional (JKN) program in 1 January 2014 for providing health care and social insurance, including monitoring and controlling the prescriptive drug and medicine cost in Indonesia. The objectives of this study were to measure and analyze the health level of the financial performance of stated-owned pharmaceutical companies: PT. Kimia Farma Tbk and PT. Indofarma Tbk, during the period of before and after the implementation of BPJS Kesehatan Program in 2010-2017 by using the financial ratio analysis based on the Decree of Ministry of SOEs No. KEP-100/MBU/2002. The significant differences will also be calculated using statistical method of paired t-test between the period of before the implementation in 2010-2013 and after the implementation in 2014-2017. The study result showed that there was a declining tendency in general from all of the calculated value of the companies. Indofarma’s performance from before and after period was worsened and the lowest in comparison with Kimia Farma where it was overall showing a steady health performance with only minor decline. The calculation result from paired samples t-test are proving the significant differences between two samples of before and after the implementation of BPJS Kesehatan Program with varied result from each company depends on the calculation of the financial ratios. Kimia Farma have the most significant differences in financial performances, specifically in Return on Investment, Inventory Turnover and Total Asset Turnover. On the contrary, Indofarma didn’t show any significant differences at all to its financial performance.