• Title/Summary/Keyword: Hospital Profit

Search Result 174, Processing Time 0.028 seconds

Identifying Factors Affecting Dental University Hospitals' Profitability (치과대학병원 수익성에 영향을 미치는 요인 분석)

  • Lee, Ji-Hoon;Kim, Seong-Sik
    • Korea Journal of Hospital Management
    • /
    • v.26 no.2
    • /
    • pp.17-26
    • /
    • 2021
  • Purposes: This study aims to identify factors affecting dental university hospitals' profitability and understand recent their business condition. Methodology: Data from 2016 to 2019 was collected from financial statement, public open data in 8 dental university hospitals. For the study, multiple regression test with stepwise selection was applied. Findings: First of all, 9 out of 19 independent variables were selected by stepwise selection. As a result of multiple regression test with selected independent variables and the dependent variable(operating profit margin ratio), the factors affecting hospitals' profitability were the number of dental unit chair, hospital location, debt ratio, total capital turnover ratio, employment cost rate, material cost rate, management expense rate, the number of patient per a dentist. Practical Implication: To improve dental university hospitals' profitability, hospitals specifically analysis and manage their cost such as employment, material and management cost and seek effectiveness by managing the proper number of patient per a dentist.

Development and Application of a Performance Prediction Model for Home Care Nursing Based on a Balanced Scorecard using the Bayesian Belief Network (Bayesian Belief Network 활용한 균형성과표 기반 가정간호사업 성과예측모델 구축 및 적용)

  • Noh, Wonjung;Seomun, GyeongAe
    • Journal of Korean Academy of Nursing
    • /
    • v.45 no.3
    • /
    • pp.429-438
    • /
    • 2015
  • Purpose: This study was conducted to develop key performance indicators (KPIs) for home care nursing (HCN) based on a balanced scorecard, and to construct a performance prediction model of strategic objectives using the Bayesian Belief Network (BBN). Methods: This methodological study included four steps: establishment of KPIs, performance prediction modeling, development of a performance prediction model using BBN, and simulation of a suggested nursing management strategy. An HCN expert group and a staff group participated. The content validity index was analyzed using STATA 13.0, and BBN was analyzed using HUGIN 8.0. Results: We generated a list of KPIs composed of 4 perspectives, 10 strategic objectives, and 31 KPIs. In the validity test of the performance prediction model, the factor with the greatest variance for increasing profit was maximum cost reduction of HCN services. The factor with the smallest variance for increasing profit was a minimum image improvement for HCN. During sensitivity analysis, the probability of the expert group did not affect the sensitivity. Furthermore, simulation of a 10% image improvement predicted the most effective way to increase profit. Conclusion: KPIs of HCN can estimate financial and non-financial performance. The performance prediction model for HCN will be useful to improve performance.

Analysis of Mission Statements and Organizational Performance of Hospitals in South Korea (국내 의료기관의 사명진술문과 조직성과 분석)

  • Kim, Eun-Kyung;Kim, Se Young;Lee, Eunpyo
    • Journal of Korean Academy of Nursing
    • /
    • v.45 no.4
    • /
    • pp.565-575
    • /
    • 2015
  • Purpose: The purpose of the study was to examine mission statements and their elements and to investigate correlations between mission statements and organizational performance. Methods: The current research was a descriptive study based on the examination of mission statements of 353 hospitals that posted mission statements on their webpage and 92 hospitals that made their income statements public. Results: The most common mission element was 'identification of principal services', which accounted for 92.6%. Mission statements of hospitals included the average of 4.82 mission elements out of 9, and the objective of medical quality improvement was 0.81 among 6 objectives of IOM (Institute of Medicine). Net profit of hospitals with mission statements that have above average number of mission elements were significantly higher (t=2.71, p=.008) than those of other hospitals. Net profit was significantly correlated with mission statements (r=.26, p<.001), and mission elements (r=.29, p<.001). Conclusion: The results of the study empirically reveal that mission statements in the hospital affect organizational performance. That is, better organizational performance is shown for hospitals with better, more diversified, and more firmly stated mission statements which include identification of target customers, identification of principal services, contribution to society as a non-profit organization, and concern for employees.

A Study on Causal Relations among BSC Performance Measurement Indexes - Focused on the case of C University Hospital - (BSC 성과측정지표간의 인과관계에 관한 연구 - C대학병원 사례 중심으로 -)

  • Shin, Seung-Kwon
    • Korean Business Review
    • /
    • v.20 no.2
    • /
    • pp.119-133
    • /
    • 2007
  • The present study purposed to examine whether BSC, a management renovation method, is as effective in university hospitals, which are non-profit institutions, as it is in profit-making corporations. In order to determine causal relations among the BSC performance measurement indexes, we analyzed a case of university hospital using a structural equation model. The results of analyzing the causal relations among the BSC performance measurement indexes were all statistically significant, and therefore the research hypotheses were all accepted. Future research needs to study causal relations among the BSC performance measurement indexes from the viewpoint of the learning of financial data, growth, internal processes, and customers.

  • PDF

Characteristics of financial ratios and profitability correlation of hospitals by disclosure of accounting information of medical institutions - Focused on the characteristics of financial ratio by disclosure of accounting information - (의료기관 회계정보공시에 의한 병원의 재무비율 특성과 수익성 관계)

  • Shim, Yong-Woo;Lee, Sang-Goo
    • Management & Information Systems Review
    • /
    • v.38 no.4
    • /
    • pp.25-39
    • /
    • 2019
  • The purpose of this study is to analyze the management performance of hospitals by analyzing the ratio of stability, profitability ratio, and growth rate through the financial ratios of medical institutions using accounting information disclosure data of medical institutions, financial status table and profit and loss statement. The main goal is to analyze and analyze financial statements of medical institutions' accounting information in 2016 and 2017, analyze the difference and analyze the general characteristics and financial ratios by type, type and size of medical institutions, The financial characteristics of medical institutions were identified. The ratio of stability, profitability, and growth rate through financial ratios were compared and analyzed. In addition, we analyzed the correlation between the medical profit margin, the total asset profit margin, the medical profit margin rate, and the net profit margin of the medical institutions through the financial ratios of accounting information disclosure data of medical institutions. The main results are as follows: First, the size of the hospital and the size of the debt through the change of assets, liabilities and capital of the financial statement are increasing, the size of own capital is relatively decreased, and the management performance is getting worse It is showing. Second, the increase in average medical revenues in the income statement is small, and the average increase in net profit is small. Thus, medical institutions were able to confirm the difficulty in creating profits through medical activities. In addition, there was a large difference in the debt ratio, the stability ratio, and the profitability ratio of the general hospitals and the general hospitals according to the types of medical institutions, and the difference in the average financial ratios of national and public hospitals, school corporation hospitals, I could confirm. The correlation between independent variables in the correlation was -0.904 between the capital ratio and the total assets turnover ratio, -0.800 between the labor cost ratio and the hospital income ratio, and -0.631 between the labor cost ratio and the foreign profit ratio. In order to improve the management deterioration of hospitals by using accounting information disclosure data of medical institutions, it is necessary to have a large effect on the net profit margin of the medical care and the net profit margin of the total assets.

A Case Study on Hospital Unit Management System (책임경영제 운영사례)

  • Hwang, In-Kyoung
    • Korea Journal of Hospital Management
    • /
    • v.7 no.2
    • /
    • pp.124-135
    • /
    • 2002
  • The purpose of this study is to analyze a case of unit management system introduced and operated in a university hospital. The system was designed and applied to six clinical departments and centers to help to achieve the medical revenue and profit targets. The case hospital is now in the second year of the system operation. Major findings of the study are as follows; Firstly, the leadership style of the unit manager is the most important factor in management of the unit. The transformational leadership style was more effective than the transactional one. Secondly, unit manager's managerial ability is another key factor to the success or failure in achieving the responsibility targets. Thirdly, the degree of divisionalization and responsibility should be strengthened to activate both unit managers and medical specialists.

  • PDF

How-to of MB Government's Health Care Policy: Private Health Insurance and For-Profit Hospitals (신(MB) 정부의 보건의료정책과 의미: 민영건강보험의 활성화와 영리병원의 허용)

  • Kim, Won-Shik
    • Health Policy and Management
    • /
    • v.18 no.4
    • /
    • pp.185-206
    • /
    • 2008
  • The National Health Insurance (NHI) has been the main body of health care system in Korea for the last 30 years since the NHI was founded. However, the inefficient management and strong regulations of the NHI have hindered the development of health care industry. The establishment of the MB government, whose interest lies on economic growth rather than equity, is expected to help the health care services gain a momentum. The essential measures that can step up public health care services overall are the following: the introduction of competition within NHI, the activation of private health care insurance, and the allowance of for-profit hospital. The private-public mix with market mechanism would level up the health care service for the public.

Analysis of Current Operational Practices and Issues of Contract-Managed Foodservice Companies in Republic of Korea (위탁급식 전문업체의 운영 현황 조사 및 현안과제 분석)

  • Eom, Yeong-Ram;Ryu, Eun-Sun
    • Journal of the Korean Dietetic Association
    • /
    • v.9 no.3
    • /
    • pp.197-208
    • /
    • 2003
  • This study was surveyed to provide the information on current operational practices and issues of contract-managed foodservice companies. Questionnaires were distributed to 79 contract-managed foodservice companies (eight large-size, 48 mid-size, 23 small-size companies) from March to May in 2002. The contract-managed foodservice companies provided averages of 269,184 (range 140,036-503,500), 14,837 (range 450-75,269), and 4,065 (range 930-8,050) meals daily from large, medium, and small-size companies, respectively. The companies managed to averages of 268.2 (160-619) foodservice contracts at large-size companies, 21.9 (5-63) contracts at mid-size companies, and 4.7 (1-10) contracts at small-size companies. The average numbers of dietitians were 298.6 (range 104-671) in large-size companies, 22.2(6-86) in mid-size companies, and 3.8(1-9) in small-size companies. The averages of sales were 156.5 billion at large-size companies, 6.7 billion at mid-size companies, and 1.7 billion at small-size companies in 2001. The contract was two types including management fee contract(5%), and profit and loss contract(95%). The cost ratios for office foodservice were 59.5% at food cost, 24.2% at labor cost, 6.3% at profit, and 10.1% at other cost. For hospital foodservice, the ratios were 54.0% at the food cost, 34.6% at labor cost, 3.0% at profit, and 11.8% at other cost. For high school foodservice, the ratios were 62.2% at the food cost, 21.5% at labor cost, 5.4% at profit, and 11.2% at other cost. When the contractors managed to the foodservice, the most important matters were the sanitation management and customer satisfaction. Also, the difficult problems were excess investment of equipments and low meal prices.

  • PDF

Problem and Improvement of Korean Healthcare market Liberalization and Privatization

  • Joung, Soon-Hyoung
    • Journal of the Korea Society of Computer and Information
    • /
    • v.20 no.11
    • /
    • pp.175-181
    • /
    • 2015
  • In this paper, based on the reference, we try to review the second issues about opening medical market and health care privatization by each topic and propose the measures and alternatives. Currently, in Korea, connection with launch of the WTO system and force of the FTA, the medical industries getting liberalization and globalization. Thus, it is expected to plunge to full-free competition system, and Korean medical institutions started the global competition which completely different dimension. It means that according to the liberalization of the healthcare market the real problem can be caused and also, the incessant discussion and effort for the implementation of international community are needed. Regard to attracting foreign patients and opening medical markets, the government also spreading the continued advancement strategy politically until now. However, generating problems with implication is inevitable and measures and alternatives to it are also needed. In accordance with the opening, the accompanying suggestions is medical privatization, that is, whether the health care pursue the profit not the not-for-profit and the current hospitals in Korea they are leaved as non-profit hospitals and let the make the subsidiary as general commercial enterprises, it seems indirect. However, it is like a healthcare privatization virtually thus, implication seem be large. Of course, through the public opinion and legal reservation, the liberalization and privatization of medical market can be delayed or not forced. It would be not fit in the flow of the inevitable globalization, it can be inhibited national interest and economic development also, and it can be the critical implications which shake the health system and collapse of the domestic health care market.

Hospital Marketing Strategies in Competitive Era : Positioning and Patient Satisfaction Strategies (경쟁시대의 병원마케팅전략 : 포지셔닝과 고객만족을 중심으로)

  • 이훈영;정기택
    • Health Policy and Management
    • /
    • v.5 no.2
    • /
    • pp.127-154
    • /
    • 1995
  • The Korean hospital industry is rapidly changing along with the competition among hospitals. Until recently it was easy for hospitals to profit even without efficient management and competitive strategies. However, the increasingly intensive competition endanger their profits but also their survivals. Hospital managers have no choice but to seriously consider competitive management and marketing strategies to remain alive and prosper. This study introduces a useful methodology--perception map drawn using multidimensional scaling--for developing competitive strategies, and illustrates its application to developing a perception map of 9 Seoul-based general hospitals. We also suggest the concepts and examples of positioning strategies and patient satisfaction management system. One of the interesting findings is that the Samsung medical center which opened less than a year ago is ranked first in most aspects such as kindness, facilities, waiting time, and parking, and the second in clinical performance just after the Seoul National University Hospital.

  • PDF