• Title/Summary/Keyword: Hospital Profit

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The Priority Analysis on the Financing of Healthcare Institutions in Korea (의료기관 자본조달 우선순위 분석)

  • Lee, Woo-Chun;Ahn, Young-Chang
    • Korea Journal of Hospital Management
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    • v.13 no.3
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    • pp.1-16
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    • 2008
  • According to Myers (1984) and Myers and Majluf(1984), there exists a financial hierarchy from internal to external financing, from long-tenn debt to equity, due to information costs. The purpose of this study is to assess the profit-making corporation of healthcare institutions. Data was collected from 130 hospital presidents and financial managers. We analysed the frequency and one way ANOVA by SPSS Windows 14.0K. The major findings of the study were as follows: We found that the priorities which a healthcare institutions financing were internal financial, other allowance, a credit loan, a security loan, and a lease through this study. The priorities which a healthcare institutions raised the capital differed as to the number of beds and revenues. The priorities were no difference from ownership, location and an annual business.

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A Study of relationship between high performance-HRM system of medical doctor and the effectiveness of hospital (병원조직의 고성과 HRM시스템과 조직유효성의 관계 : 의사직종 HRM을 중심으로)

  • Park, Seung-Ho;Cha, Jong-Seok
    • Health Policy and Management
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    • v.22 no.4
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    • pp.676-695
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    • 2012
  • This study purposes to examine the relationship between high performance-HRM system of medical doctor and the effectiveness of hospital. The high performance-HRM practices were derived from reviewing the literature of SHRM(Strategic Human Resource Management) and investigating some cases of Korean leading hospitals. The result reveals that the high performance-HRM system of medical doctor is significantly related with subject measurement such as financial performance, employees' turnover, and customer(patient) satisfaction. Moreover, it is positively related to objective performance such as hospital's profit growth, yearly patient growth. Based on the result, the academic and practical implications are suggested and then the limitation and further research directions are discussed.

A Study on Measuring Hospital Efficiency and Analyzing Its Determinants in Tertiary Hospitals: Data Envelopment Analysis (3차병원의 생산 효율성 측정 및 결정요인 분석)

  • Yang, Dong-Hyun;Suh, Won-Sik;Park, Kwang-Hoon
    • Korea Journal of Hospital Management
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    • v.2 no.1
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    • pp.183-202
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    • 1997
  • Health care organizations have been faced with financial difficulties under turbulent health care environment. This situation led hospitals to concentrate their efforts to improve their managerial efficiency in various ways. This study aims to evaluate technical efficiency of 31 tertiary hospitals in Korea and find determinants which are closely related with hospital efficiency. Data envelopment analysis(DEA) and Tobit Model were adopted for study. For the analysis, human resource factors such as number of physicians, nurses, and administrative staffs are used as input variables and the number of inpatients and outpatients) are used as output variables. Among 31 hospitals, in CCR model, 8 hositals showed efficiency score 1 which means they have been operated in very efficient ways and BCC model showed 13 of 31 hospitals as efficient organizations. Next, we analyzed determinants which are closely related with hospital efficiency. By using Tobit model, the study showed hospital size, Quality of care, value added per capita, and revenue per patient were closely related with hospital efficiency, However, it appeared that financial status of hospitals(i.e : making profit or not) was not related with hospital efficiency.

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An Analysis of the Financial Performance of Korean Medicine Hospitals in Korea: Focusing on Financial Ratios and Investment Efficiency (재무분석을 통한 한방병원의 경영성과 분석 - 재무비율 및 투자효율을 중심으로)

  • Choi, WonYoung;Lim, Byungmook
    • The Journal of Korean Medicine
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    • v.41 no.1
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    • pp.1-10
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    • 2020
  • Objectives: This study investigated the financial performance of Korean Medicine hospitals in Korea in order to understand the current status of hospital management and improve its efficiency. Methods: Financial statements of 24 medical corporations, 19 juridical foundations and 18 school hospitals from 2016 to 2018 were obtained from the secondary data published by the Health Insurance Review and Assessment Service, the National Tax Service and the Korea Advancing Schools Foundation. Financial performance was measured on 6 dimensions: liquidity, profitability, activity, growth, cost and productivity (investment efficiency) by analyzing 8 financial indicators: Liability to Total Assets, Net Profit to Patient Service Revenues, Total Assets Turnover, Growth Rate of Patient Service Revenues, Operating Expenses to Patient Service Revenues, Value Added to Patient Service Revenues, Value Added to Total Assets, and Value Added to Personnel Expenses. Results: Korean Medicine hospitals showed lower Liability to Total Assets, Liquidity and Value Added to Total Assets than Western Medicine hospitals did. They also showed higher Value Added to Patient Service Revenues and Value Added to Personnel Expenses than Western Medicine hospitals did. They also showed higher Value Added to Patient Service Revenues and Value Added to Personnel Expenses than those of Western Medicine hospitals do. The net profit decreased significantly (-50.8%) in 2018 whereas Patient Service Revenues increased (6.9%) for the same period due to Operating Expenses increase and Non-Operating loss. Conclusions: These findings suggest that the Korean Medicine hospital sector in Korea needs to improve liquidity and financial structure and to enhance profitability by reducing Personnel Expenses and generating Non-operating revenues in order to improve its investment efficiency and competitiveness.

Profitability and Publicity of the Regional Public Hospitals in Korea - With focus on administration assessment of regional public hospitals - (공공의료기관의 공공성과 수익성 상호관계에 대한 연구 - 지방공사의료원의 경영평가를 중심으로-)

  • Lee, Dong-Won;Yoon, Bang-Seob;Nam, Eun-Woo
    • Korea Journal of Hospital Management
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    • v.12 no.2
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    • pp.43-68
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    • 2007
  • The administration of a regional public hospitals are expending from profit preference to publicity preference. The weight rate for a profitability and publicity of performance assessment has changed from 84:16 which was resulted by the assessment executed firstly in 1989 to 39:61 as resulted in 2004, the final assessment execution in 2005. Regional public hospitals are exerting and promoting a magnification in public sector to raise up the public-score. With comparison between publicity scores and profitability scores in original scores basis excluding weight rate, the publicity scores ranked higher than profitability scores although the latter was higher by 2002. However, for the administration performance of the regional public hospitals, the deficits increased 11 times from \92.6billion deficits with \460.3billion cost increased by 457% although income as \367.7billion increased by 394% comparing the last 2004 year to the first 1989 year for profit & loss statement of a regional public hospitals. There was analysis for the relation in yearly basis partitioning publicity and profitability for the assessment scores of the to regional public hospitals confirm the accumulated deficits of the hospitals like this attribute to the extension of public sector. The result showed that there was distinct plus relationship from 1999 although a minus relationship in general until 1997 except 1992 and there is a more plus relationship as approaching 2004. That is, it is hard to tell that the accumulated deficits increase of regional government medical center attributed to extension of public sector. On the contrary, the analysis showed the extension of public sector has a mutual relationship with uplift of profitability Meanwhile, it showed that operation cost rate and labor cost are the factors which influence a revenue & expenditure rate among the profitability index according to the results of relation analysis for the representative index of profitability and that of publicity.

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Liquidity Determinants of Private Hospitals in Korea (민간병원의 유동성 관련요인 분석)

  • Choi, Man-Kyu;Lee, Yun-Seok;Lee, Yoon-Hyeon
    • Health Policy and Management
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    • v.12 no.4
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    • pp.1-17
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    • 2002
  • This study was attempted to identify the liquidity trends and determinants of private hospitals in Korea different. Data used in this study were collected from 98 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 1996 to 2000 for the purpose of accrediting training hospitals. The dependent variables in this study were used current ration and quick ratio as a proxy indicator for liquidity. The independent variables were ownership type, hospital type, location, bed size, period of establishment, short-term liabilities to total assets, long-term liabilities to total assets, borrowings to total assets, fixed asset ration, net profit to total assets, operating margin to gross revenue, growth rate of net worth to total assets, total asset turnover, and business risk(volatility of profit). The major findings of this study were as follows. Trends of liquidity(current ratio, quick ratio) had been continuously decreased. Especially, There were very distinct decreasing trends of personal hospitals and less than 300beds, which weakened liquidity. The factors had significant effect on current ratio were short-term debt to total assets(-), fixed asset ratio(-), business risk(+). High short-term debt to total assets, high fixed asset ratio and high business risk significantly decreased in liquidity. The factors that significantly affected on quick ratio were short-term debt to total assets(-), borrowings to total assets(+), fixed asset ratio(-), business risk(+).

A Study of the Influence of 'the Separation of Prescribing and Dispensing Roles' Policy on Medical Institutions (의약분업실시에 따른 의료기관의 건강보험외래부문 순이익변화 추계)

  • Chung, Woo-Jin;Shin, Seung-Ho;Lee, Sun-Mi;Jung, Sang-Hyuk;Koh, Kwang-Wook;Park, Si-Woon;Shin, Eui-Chul;Lee, Sun-Hee;Hwang, Jin-Mee
    • Korea Journal of Hospital Management
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    • v.7 no.4
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    • pp.1-23
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    • 2002
  • This study examined the influence of the separation of prescribing and dispensing roles(SPD) policy implemented in Korea in July 2000, especially on the change in the net profit of medical institutions. Using the data set from the Korea's National Health Insurance and the previous research, this study elicited the following main results. First, tertiary care institutions was estimated to lose about 631 billion won after the SPD policy. Second, general hospitals and hospitals gained about 557 billion and 564 billion won, respectively. Third, it is shown that clinics also gained 389-659 billion won. Finally, however, the change in net profit of medical institutions after the SPD policy largely depends on different estimation models. Moreover, it also varies from the assumptions on the price differential of a reimbursable drug which worked as cross-subsidy to insufficient physician's fee before the SPD policy. Despite such limitations as lack of data outside of the National Health Insurance's coverage, this study differs from others. This is the first research to explore the effect of the SPD policy on different types of medical institutions and to attempt to purely focus on the SPD policy. In this study, we can draw the policy implication that preparing for a policy change, the government should set up the policy evaluation system to collect the concerned data and develop the methodologies in advance to the policy implementation.

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Factors Influencing to Select Types of U.S. Hospital Network (미국 병원의 네트워크 유형 선택에 영향을 미치는 요인분석)

  • 김양균
    • Health Policy and Management
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    • v.14 no.2
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    • pp.1-16
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    • 2004
  • The study purpose was to find which factors affect selection of hospital network types. This study used the 1998 American Hospital Association Annual Survey Database from Health Forum. Among these U.S. hospitals, the researcher selected hospitals located in Metropolitan Statistical Areas. Therefore the final observation cases for analysis are 1,971 Metropolitan Statistical Area hospitals in the United States. To identify significant variables influencing hospital network types, the study used proportional odds logistics regression model on population size, Health Maintenance Organization penetration rate, and market competition rate of area including a hospital, types of hospital ownership, hospital bed size, proportion of Medicare patients and Medicaid patients in total hospital patients, and occupancy rate. Contrary to conventional wisdom, selection of hospital network types was influenced by population size of area which a hospital located, types of ownership, hospital bed size, and proportion of medicare patients rather than Health Maintenance Organization penetration. Population size 1,000,000-2,499,999 had the highest probability of selecting type IV (clinical-vertical integration) from an independent hospital, and a religious group owned hospitals and for-profit owned hospitals had the highest probability of selecting Type IV (clinical-vertical integration) from an independent hospital. A bed size had positive relation on selecting Type IV (clinical-vertical integration) from an independent hospital. Unlikely general belief that the selecting types of hospital network was determined by the change of health insurance policy such as Health Maintenance Organizations and Preferred Provider Organizations, the types of hospital network were influenced by community characteristics such as population size, and hospital characteristics.

A Study on the Spatial Organization of Outpatient Department in General Hospital - Focused on the Latest Planned General Hospital of Scale more than 500 Beds - (종합병원 외래진료부의 공간구성과 규모계획에 관한 조사연구 - 최근 계획된 500병상 이상 규모의 종합병원을 중심으로 -)

  • Son, Jae-Won;Lee, Teuk-Koo
    • Journal of The Korea Institute of Healthcare Architecture
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    • v.13 no.2
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    • pp.53-60
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    • 2007
  • Various changes in medical environments including growing elderly population, chronic diseases, deepening competition among hospitals since opening to foreign medical service, economic strategy for improvement of profit system have caused hospitals to be specialized. In this backgrounds, the purpose of this study is to receive basic data for architectural planning on the spatial organization of outpatient department in general hospital. The results of this study were as follows; First, major changes of outpatient department in general hospital are composed of 'co-work in medical examination and treatment', 'decentralization of diagnosis and treatment(D/T)' and 'patient-oriented medical service'. Changes by co-work system include appearance of medical offices for co-work, activation of specialized clinics, grouping of E/T section for outpatient and various types of specialized centers. Second, the grouping of E/T sections means the modification of E/T system and organization in general hospitals, and a new spatial organization will be needed. Third, the types of specialized centers are getting varied. they are classified into several types including disease-resource, social stratum-resource, human organ-resource, health-resource, rehabilitation-resource, alternative medical center and so on.

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A Study on the Status of Contract Managed Hospital Food Services (병원급식 위탁관리의 운영 실태조사)

  • Kim, Jin-Su;Yang, Il-Seon;Kim, Hyeon-A;Park, Mun-Gyeong;Park, Su-Yeon
    • Journal of the Korean Dietetic Association
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    • v.9 no.2
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    • pp.128-137
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    • 2003
  • The purposes of this study were to investigate the current status of contracted hospital food services and to find out the difference in accordance with the number of beds in hospitals. Thirty six hospitals having more than 100beds in Seoul, Inchon and Kyungkido were the subjects of this study. Data was collected through surveys. The survey was conducted during March and April in 2002. The Questionnaires were mailed to the 36 directors of dietetic departments of the hospitals and 36 managers of contracting patient food services. Statistical analysis was completed using SPSS Win(11.0) for descriptive analysis and t-test. The results of the study are summerized as follows; Ⅰ. Hospital perspective : The range covered by contract food service was 63.3% and 36.7% in hospital food services, and medical nutrition services. The patient and employee food services were in 83.3%, and patient food services were in 6.7%. The methods selecting contractors are general, limited, selected and competitive biddings, and private contracts. The responsibility for supervision of contract food services was the dietetic department (51.7%) in most cases. Hospitals having personnel responsible for contracting affairs were in 75.9% of the cases and 24.1% did not have personnel. The biggest reason for contracting was facilitation of personnel management. The most important criteria on selecting food services contractors was the professionality of the contractor. Ⅱ. Contractor's perspective : The cost per meal in the year 2001 was composed of 1,905 won for food cost, 1,081 won for labor cost, 222 won for expenses, 114 won for VAT, 14 won for rent and 146 won for miscellaneous or controllable expense, representing 109 won loss per meal. The profit-and-loss contract cost is higher than the fee-contract cost. The ratios of food cost, labor cost and expenses are higher and the ratios of miscellaneous or controllable expense, VAT, rent and profit are lower in hospitals with more than 400 beds compared with those less than 400 beds. However, no significant differences are present between these two groups of hospitals. The actual contract period was 2.2 years upon initial contract and 1.2 years upon renewal. The initial investment cost was 53 million won and the cost of renovation and repair was 8.5 million won. Significant differences were present between two groups of hospitals. The conditions of employment and number of personnel hired by contractors for contract patient food services were significantly different according to the number of beds.

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