• Title/Summary/Keyword: Value Added to Personnel Expenses

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Comparative Analysis of Value Added to Personnel Expenses between General Hospitals and Regional Public Hospitals (민간종합병원과 지방의료원의 인건비 투자효율성 비교분석)

  • Lim, Jeong-Do
    • The Korean Journal of Health Service Management
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    • v.11 no.4
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    • pp.67-76
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    • 2017
  • Objectives : This study compared Value added to personnel expenses between 12 private general hospitals and 12 regional public hospitals, based on location and size, to examine industry competitiveness in terms of management. Methods : From 2011 to 2015, the value added and value added to personnel expenses were calculated by year. and a SPSS statistical program was used to determine and influential factors between private general hospitals and regional public hospitals. Results : The total value added to personnel expenses was 26.85 percent lower than general hospitals compared to regional public hospitals. The product category most influenced by the value added to personnel expenses was Stationeries & expendables at general hospitals and Outsourcing at regional public hospitals. Conclusions : Regional public hospitals have relatively low value added to personnel expenses compared to the general hospitals. Therefore, it is necessary for hospital management to reexamine gross revenue relative to total manpower.

The Relationship of Value Added to Personnel Expenses and Operating Margin in Hospitals (의료기관의 인건비투자효율과 의료이익률 간의 관계)

  • Jung, Yong-Mo
    • The Korean Journal of Health Service Management
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    • v.5 no.1
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    • pp.77-85
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    • 2011
  • The study intends to conduct an analysis of relations between efficiency of investment to human resources and the operating margin in hospitals. The analyzed results are as follows: First, it is found out that an index related to labor productivity(the monthly value added per bed, the value added ratio to gross revenue), and an index for efficiency of human resources(value added to personnel expenses), do not have a significant difference by years. Second, labor productivity, indicating the efficiency of human resources, does not have a significant difference between regions and between hospital types. But there is a significant difference according to types of establishment: private hospitals have higher labor productivity(efficiency of human resources) than corporate hospitals. The hospital size is small have significantly higher labor productivity. As a result of a follow-up check, it is found out that there is separation between a group with more than 200 beds and a group with less than 200 beds. Third, at the relations between the indices related to value-added productivity and the operating margin that the higher the value added ratio to gross revenue and the higher labor productivity, the higher the operating margin. Especially, labor productivity(value added to personnel expenses), an index for the efficiency of human resources, out of all the indices related value added productivity, has the most significant influence on the operating margin.

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.

Comparison between Korean Regional Public Hospitals and Private non-profit General Hospitals for Investment Efficiency and Management Performance (지방공사의료원과 민간 종합병원 간의 투자효율 및 경영성과 비교)

  • Ha, Au-Hyun
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.1
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    • pp.523-529
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    • 2017
  • This study analyzed the financial information between 2011 and 2014 comparing management performance and utilization of capital and human resources between private non-profit general hospitals and regional public hospitals operated as general hospitals. The purpose of this study was to enhance the productivity for financial independence of regional public hospitals. Comparison analysis variables were value added to the total assets, value added to the productive activity tangible fixed assets, value added to personnel expenses, ratio of value added, and operating margin to revenues. According to the analysis results, regional public hospitals showed lower investment efficiency indicator and higher ratio of value added, as well as significantly lower operating margin-to-revenues compared with private non-profit general hospitals. Moreover, the effect of investment efficiency indicators on operating margin-to-revenues was value added to the productive activity of tangible fixed assets and value added to personnel expenses in regional public hospitals; the value added to personnel expenses in private non-profit general hospitals had a significant effect on the operating margin-to-revenues, the effect of value added to personnel expenses was the greatest. Therefore, it is necessary to asset utilization to the revenue and propriety of human resources to personnel expenses in regional public hospitals.

Investment Efficiency and Management Performance of Korean Regional Public Hospitals (지방공사의료원의 투자효율과 경영성과)

  • Ha, Au-Hyun;Kim, Yun-Jin;Cho, Duk-Young
    • The Korean Journal of Health Service Management
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    • v.10 no.3
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    • pp.1-12
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    • 2016
  • Objectives : This study examined relations between investment efficiency and management performance as indexes related to productivity of Korean regional public hospitals. Methods : The analysis data are financial information of Korean regional public hospitals from 2011 to 2014. For the indicators, value added to total assets, value added to productive activity tangible fixed assets, and value added to personnel expenses, operating margin to revenues, net profit to total earnings, and ratio of value added. Results : Significant relevance was not shown among indicators of investment efficiency. However, Significant relevance was shown between value added to personnel expense and productivity per value added. Conclusions : It confirmed that outside support funds like subsidy did not have effect on improving the management performance. Also, it could be known that availability about input of capital and labor was not realized organically.

Investment efficiency and Relationship between Investment efficiency, Profitability in National University Hospitals (국립대학교병원의 투자효율 및 투자효율과 수익성 간의 관계)

  • Ha, Ok-Keun;Jung, Yong-Mo
    • Management & Information Systems Review
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    • v.32 no.1
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    • pp.135-151
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    • 2013
  • The study has been carried out to understand productivity-related factors that have been connected to improve financial independence rate of national university hospital. In order to achieve such research purpose as working out implications of efficient resource management, data from the four years between 2007 to 2010 of 12 national university hospitals were reviewed. According to the results, the hospitals came up with significant differences in Value Added to Total Asset, Value Added to Tangible Fixed Assets, Value Added to Personnel Expenses and Value Added Ratio to Patient Revenues. In addition, after the relation between the investment efficiency and profitability of the national university hospitals was investigated, it was learned that application of basic environmental factors would have an influence on a profitability index Operating Margin. As long as the basic environmental factors are adopted, Operating Margin of the national university hospitals is improved under the condition that the Value Added to Tangible Fixed Assets for Production and the Value Added to Personnel Expenses gets higher but the Value Added Ratio to Patient Revenues gets lowered.

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A Comparative Study on the Human Resource Efficiency between the Korean and Japanese Municipal Hospitals using Data Envelopment Analysis (DEA를 이용한 한국과 일본 공공병원의 인적자원 효율성 평가)

  • Nam, Sang-Yo
    • Korea Journal of Hospital Management
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    • v.12 no.1
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    • pp.51-74
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    • 2007
  • This study applied Data Envelopment Analysis to a set of Korean Public Corporation Medical Centers and Japanese Municipal Hospitals to compare their relative human resource efficiencies. Based on the data provided on the inputs and outputs, the analysis showed Japanese municipal hospitals were relatively efficient than Korean hospitals. The result of analysing BCC model shows 5 hospitals in Japan and 7 in Korea with an efficiency rating of less than 1 as considered relatively inefficient. For the inefficient hospitals the manner in which inefficient hospitals may be made efficient were indicated by the managerial strategies based on dual variables. A subsequent analysis of Wilcoxon rank-sum test revealed that the medical revenue per medical expense, labor cost per value added revenue were statistically significant between efficient and inefficient Korean hospitals and medical revenue per medical expense, labor cost per value added revenue, bed occupancy rate, average length of stay, rate of personnel expenses per medical revenue were statistically significant between efficient and inefficient Japanese hospitals.

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A Study on Effective Management & Administration System for Deluxe Hotel Kitchen in Seoul Area. (관공호텔 조리직무의 분업과 통합에 따른 문제점과 개선방안에 관한 연구)

  • 라영선
    • Culinary science and hospitality research
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    • v.1
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    • pp.57-89
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    • 1995
  • Despite prologed business stagnation of both international and domestic economy, hotel business as well as tourist industry has continuously been keeping growing, owing to increase of surplus income and world flowing population. During recent 4 years, growth rate of yearly mean in domestic hotels reached 9.9% and especially that of the superior class hotels 15.2%. In the composition of domestic tourist hotel's revenue, the earnings of guest rooms form 37.4%, on the other hand those of food & beverage 39.9%. This result is that our hotel business is concentrated on its interest in FOOD & BEVERAGE of which productivity per unit dimension can be increased to an unlimited extent and extent and superior class hotels strengthened in F&B are increasing in comparison with European or American hotels which are focused on guest rooms in their management. For value added rate of F&B is low as compared with increase of their earnings, they are interested in the management techniques which focus on rising the rate. As for the cost of Food & Beverage, personnel expenditure forms 36.5% and the direct materials 31.5%. Therefore how to manage personnel and materials costs which compose as much as 68% of total revenue will greatly affect net profit. We can say that an effective management technique in cost of Food & Beverage is one of the most important know-hows in hotel management. Especially management know-how for the Kitchen Department where the most of foods come out makes a great effects on various expenses, productivity and it is the achievement from hotel management. For the most of the hotel's top managers, they don't seriously take the fact that KITCHEN SYSTEM affects greatly total expenditure. This study starts from the point of recognizing the question of fundamental cause affecting tow largest cost elements incurred in Food & Beverage and trying to present an effective kitchen system. To settle the questions raised, I compared and analyzed productivity and cost of food & beverage and unit kitchen centered around superior class hotels in Seoul, which vary in Kitchen Systems. In order to attain the aforementioned study effectively purpose of this study, I compared Room-Service and Coffee-Shop Menu, flow of basic food in the kitchen, extent and result of division of labor and integration in the kitchen, scale of outlet kitchen, productivity, the turnover rate of food in store, food cost rate one another which all vary in Kitchen Systems. All these elements are compared and analyzed each other being divided into two main groups such as①. Main Production kitchen and Banquet Kitchen, and ②. coffee-shop kitchen and Room-service Kitchen. Therefore this study is to point out the problems in managing kitchens of superior class hotels which are different in systems. An effort was made to find out the better Kitchen System for superior deluxe hotels. I emphasize the followings on the proper scale of division of labor and integration of unit kitchen and a disposition plan for outlet kitchens of restaurant. First, KITCHEN SYSTEM as a sub-system of Hotel Management System is composed of sub-systems of outlet unit kitchen. Basic food materials are cooked and served for the guests while support kitchen and out restaurant kitchen interact organically each other. So Kitchen should be considered as a system composed of integrated sub-systems. Second, support and banquet kitchens should be integrated to be managed. And these unit kitchens have to be designed to be placed in the back of banquet rooms area. Third, coffee-shop kitchen and room-service kitchen should be integrated to be managed. Fourth, several unit business kitchens should be place on the same floor. Fifth, main production kitchens ought to be located near the loading duck, food store and large refrigerator. Sixth, considering the limits of supervision, duties should be adjusted as 12-20 cooks in two shifts a day for a sub-kitchen, and 18-30 cooks in three shifts a day so that labor division can be made. Last, I would like to two points for direction and task of future study. Firstly, I compare the effective income and increasing costs each other, which are incurred by increasing the use rate of the second processing materials for foods perched outside and through the results. I can find out the better points of the processing production and circulation system, and then I study this effects made on hotel kitchen system. Secondly, I can point out that more efficient kitchen system shall be established through comparing and analyzing the matter of amount of indirect costs and flow of food in different kitchen systems.

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A study on The U.S.-Korean Trade Friction Prevention and Settlement in the Fields of Information and Telecommunication Industries (한미간(韓美間) 정보통신분야(情報通信分野) 통상마찰예방(通商摩擦豫防)과 해소방안(解消方案)에 관한 연구(硏究))

  • Jung, Jay-Young
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.13
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    • pp.869-895
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    • 2000
  • The US supports the Information and Communication (IC) industry as a strategic one to wield a complete power over the World Market. However, several other countries are also eager to have the support for the IC industry because the industry produces a high added value and has a significant effect on other industries. Korea is not an exception. Korea recently succeeded in the commercialization of CDMA for the first time in the world, after the successful development of TDX. Hence, it is highly likely to get tracked by the US. Although the IC industry is a specific sector of IT, there is a concern that there might be a trade friction between the US and Korea due to a possible competition. It will be very important to prepare a solution in advance so that Korea could prevent the friction and at the same time increase its share domestically and globally. It will be our important task to solve the problem with the minimum cost if the conflict arises unfortunately in the IT area. The parties that have a strong influence on the US trade policy are the think tank group and the IT-related interest group. Therefore, it would be important to have a close relationship with them. We found some implications by analyzing the case of Japan, which has experienced trade frictions with the US over the long period of time in the high tech industry. In order to get rid of those conflicts with the US, the Japanese did the following things : (1) The Japanese government developed supporting theories and also resorted to international support so that the world could support the Japanese theories. (2) Through continual dialogue with the US business people, the Japanese business people sought after solutions to share profits among the Japanese and the US both in the domestic and in the worldwide markets. They focused on lobbying activities to influence the US public opinion to support the Japanese. The specific implementation plan was first to open culture lobby toward opinion leaders who were leaders about the US opinion. The institution, Japan Society, were formed to deliver a high quality lobbying activities. The second plan is economic lobby. They have established Japanese Economic Institute at Washington. They provide information about Japan regularly or irregularly to the US government, research institution, universities, etc., that are interested in Japan. The main objective behind these activities though is to advertise the validity of Japanese policy. Japanese top executives, practical interest groups on international trade, are trying to justify their position by direct contact with the US policy makers. The third one is political lobby. Japan is very careful about this political lobby. It is doing its best not to give impression that Japan is trying to shape the US policy making. It is collecting a vast amount of information to make a correct judgment on situation. It is not tilted toward one political party or the other, and is rather developing a long-term network of people who understand and support the Japanese policy. The following implications were drawn from the experience of Japan. First, the Korean government should develop a long-term plan and execute it to improve the Korean image perceived by American people. Second, the Korean government should begin public relation activities toward the US elite group. It is inevitable to make an effort to advertise Korea to this elite group because this group leads public opinion in the USA. Third, the Korean government needs the development of a relevant policy to elevate the positive atmosphere for advertising toward the US. For example, we need information about to whom and how to about lobbying activities, personnel network who immediately respond to wrong articles about Korea in the US press, and lastly the most recent data bank of Korean support group inside the USA. Fourth, the Korean government should create an atmosphere to facilitate the advertising toward the US. Examples include provision of incentives in tax on the expenses for the advertising toward the US and provision of rewards to those who significantly contribute to the advertising activities. Fifth, the Korean government should perform the role of a bridge between Korean and the US business people. Sixth, the government should promptly analyze the policy of IT industry, a strategic area, and timely distribute information to industries in Korea. Since the Korean government is the only institution that has formal contact with the US government, it is highly likely to provide information of a high quality. The followings are some implications for business institutions. First, Korean business organization should carefully analyze and observe the business policy and managerial conditions of US companies. It is very important to do so because all the trade frictions arise at the business level. Second, it is also very important that the top management of Korean firms contact the opinion leaders of the US. Third, it is critically needed that Korean business people sent to the USA do their part for PR activities. Fourth, it is very important to advertise to American employees in Korean companies. If we cannot convince our American employees, it would be a lot harder to convince regular American. Therefore, it is very important to make the American employees the support group for Korean ways. Fifth, it should try to get much information as early as possible about the US firms policy in the IT area. It should give an enormous effort on early collection of information because by doing so it has more time to respond. Sixth, it should research on the PR cases of foreign enterprise or non-American companies inside the USA. The research needs to identify the success factors and the failure factors. Finally, the business firm will get more valuable information if it analyzes and responds to, according to each medium.

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