Korea Journal of Hospital Management (한국병원경영학회지)
- Volume 9 Issue 1
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- Pages.22-45
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- 2004
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- 1226-6299(pISSN)
Factors Affecting the Profitability of Private Hospitals in Korea
민간병원의 수익성 관련요인
- Lee, Yun-Seok (Department of Health Administration, Namseoul University) ;
- Rhee, Hyun-Sill (College of Health Sciences, Korea University) ;
- Choi, Man-Kyu (College of Health Sciences, Korea University)
- Published : 2004.03.30
Abstract
This study was performed to identify factors affecting the profitability of private hospitals in Korea different and to make informations that could be very helpful to hospitals in improving profitability. Data used in this study were collected from 112 hospitals with complete general data of present conditions as well as financial statements(balance sheets, income statements). They were chosen from hospitals that passed the standardization audit undertaken by the Korean Hospital Association from 1998 to 2001 for the purpose of accrediting training hospitals. The dependent variables were used operating margin to total assets and operating margin to gross revenues as proxy indicators for profitability. The independent variables were ownership type, location, bed size, period of establishment, debt to total assets, current ratio, fixed ratio, total asset turnover, average length of stay, bed occupancy rate, admission ratio of outpatients, personnel costs per adjusted inpatient, and fiscal years. The factors had significantly positive effect on operating margin to total assets and operating margin to gross revenues were bed size, total asset turnover. And the factors had significantly negative effect on operating margin to total assets and operating margin to gross revenues were period of establishment, debt to total assets, average length of stay, personnel costs per adjusted inpatient. The adjusted