• 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.

• Korean Journal of Construction Engineering and Management
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• v.7 no.6
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• pp.185-192
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• 2006

The maintenance expenses of public rental housing have drastically been increased as facilities become obsolete. As an effective means of managing such a situation, accurate estimating of maintenance expenses and securing financial resources are crucially important. It, therefore, is necessary to analyze major factors affecting on maintenance expenses of public rental housing's facilities, and develop an effective instrument to estimate them. On the other hand, the U.S.A, where approximately 60 percent of public rental housing's operating costs are supported by the state, has already developed an effective tool to forecast operating costs based on several years' actual data. As a result, public rental housing has been operating with a reasonable level. However, there have been no remarkable researches and studies in this field in Korea. In this context, this study attempts to examine principal determinants of maintenance expenses of public rental housing's facilities, and their influence based on the latest five years' actual operating costs. This study may contribute to develop an objective and precise tool to forecast maintenance expenses of public rental housing.

• 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.

• Korea Journal of Hospital Management
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• v.8 no.3
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• pp.118-142
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• 2003

This study is aimed at evaluating the financial structure of hospitals before and after the separation of prescription and drug dispensing policy started to be implemented in July 2000 and at making a suitable hospital managerial strategy through the verification of the factors which have effect on their profitability. This study investigated the hospitals which have passed the accredition review to be designated as a accredited training hospital each year for three years from 1999 to 2001. Those hospitals were selected from members of the Korea Hospital Association. 106 hospitals were targeted for analysis except for the hospitals whose financial statements and managerial performance were not reported faithfully. The financial indicators used in this study were stability indicators(liability to total assets, ratio of debt to fund balance, fixed ratio), liquidity indicators(current ratio, quick ratio), activity indicators(total assets turnover, fixed assets turnover), profitability indicators(net profit to total assets, net profit to net worth, operating margin), and operating expenses to patient revenues indicators(drug and supplies costs/payroll/overhead expenses). The result of this study are as follows: First, the analysis of the increase of loss-making hospitals before and after. The separation of prescription and drug dispensing policy shows that the number of loss-making hospitals increase after the separation(22.6% before the separation; 31.1% after the separation). However, there was no significant statistical difference. Second, the analysis of operating expenses to patient revenues indicators showed that the ratio of drug and supplies cost became lower in all hospitals but the ratio of payroll/overhead expenses became higher. Additionally, the factor which have the greatest effect on profitability was operating expenses to patient revenues indicators (drug and supplies costs/payroll/overhead expenses). Third, the analysis of managerial performance by four types of loss-loss, loss-profit, profit-loss and profit-profit compared the results before the separation with those after the separation revealed as follows : Reliance on liability to total assets became higher in the profit-loss type($56.2%{\rightarrow}66.4%$), lower in the loss-profit type($82.7%{\rightarrow}74.5%$). Total assets turnover became higher in the profit-profit type($1.3{\rightarrow}1.5$), but lower in the loss-profit type($0.8{\rightarrow}0.7$). Operating margin decreased to minus 5.9% from 4.3% in the profit-loss type, but increased to 7.2% from minus 7.8% in the loss-profit type. Forth, operating expenses to revenues indicators showed that the increase of payroll was the biggest in the profit-loss type($39.2%{\rightarrow}49.9%$) and that overhead cost decreased in the loss-profit type but that rather increased in other types.

• Journal of the Korea Institute of Building Construction
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• v.8 no.1
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• pp.37-42
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• 2008

As use of construction equipment has been increasing continuingly, the proportion of equipment expense to the total construction cost has become higher. However, there is a difference between the equipment expenses section in 'Poom-Sam' and practical data, because 'Poom-sam' does not consider non-working days due to weather conditions, legal holidays and management conditions. Therefore, 'Poom-Sam' does not present a reasonable standard for estimating construction equipment expenses. In this study, to estimate realistic construction equipment operating hours, firstly, construction equipment was classified according to work, and weather conditions, in which each work could not be executed, were established. Then, weather data on Seoul and Busan($2004{\sim}2006$) and legal holidays were analyzed to suggest annual standard operating hours. The annual standard operating hours of earthmoving & excavating, compaction, and drilling equipment was estimated to be 1,430 hours, and lifting equipment, concrete paving equipment, asphalt paving equipment, concrete equipment, and crushing & conveying equipment were estimated to be 2,124 hours, 1,156hours, 1,188hours, 1,688hours, and 2,152hours respectively.

• Journal of the Korea Institute of Building Construction
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• v.19 no.2
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• pp.149-156
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• 2019

This study empirically verified whether or not employee education and information technology have impact on the enhancement of financial performance to Korean construction companies. As a result, the increasing of education & IT expenses turned out to be affected the improvement of sales performance. The influences of these increased expenses are effective at the only year just after expenditure. The positive effect of education & IT expenses increasing have an effect on operating profitability as well such as increasing of operating income. Additionally, the effect of education expenses are more positive in general construction & building construction than other subdivision of construction industry. The positive effect of IT expenses increasing in specialty construction industry overwhelm the other subdivisions. The results suggest that increased investment to the education & IT systems of Korean construction companies can lead improvement of sales and operating income.

• Health Policy and Management
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• v.20 no.3
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• pp.123-137
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• 2010

The main purpose of this article is for deriving functions related to the prediction of the closure of the hospitals, and finding out how the discriminant functions affect the closure of the hospitals. Empirical data were collected from 3 years financial statements of 41 private hospitals closed down from 2000 till 2006 and 62 private hospitals in business till now. As a result, the functions related to the prediction of the closure of the private hospital are 4 indices: Return on Assets, Operating Margin, Normal Profit Total Assets, Interest expenses to Total borrowings and bonds payable. From these discriminant functions predicting the closure, I found that the profitability indices - Return on Assets, Operating Margin, Normal Profit Total Assets - are the significant affecting factors. The discriminant functions predicting the closure of the group of the hospitals, 3 years before the closure were Normal Profit to Gross Revenues, Total borrowings and bonds payable to total assets, Total Assets Turnover, Total borrowings and bonds payable to Revenues, Interest expenses to Total borrowings and bonds payable and among them Normal Profit to Gross Revenues, Total borrowings and bonds payable to total assets, Total Assets Turnover, Total borrowings and bonds payable to Revenues are the significant affecting factors. However 2 years before the closure, the discriminant functions predicting the closure of the hospital were Interest expenses to Total borrowings and bonds payable and it was the significant affecting factor. And, one year before the closure, the discriminant functions predicting the closure were Total Assets Turnover, Fixed Assets Turnover, Growth Rate of Total Assets, Growth Rate of Revenues, Interest expenses to Revenues, Interest expenses to Total borrowings and bonds payable. Among them, Total Assets Turnover, Growth Rate of Revenues, Interest expenses to Revenues were the significant affecting factors.

• 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.

• Korean Journal of Childcare and Education
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• v.9 no.5
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• pp.37-78
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• 2013

This study aimed to analyze the operating expenses and to estimate the standard child-care service cost in family childcare centers. The subjects were 442 family childcare centers in Korea and the data were analyzed with descriptive statistics by using SPSS 18.0 programs. The main results were as follows. Firstly, as the result of operating expenses analyses of family childcare centers, monthly average staff wages were 5,120,000 won and average general operating costs per month were 5,114,170 won. Therefore, monthly average operating costs of family childcare centers were totally 10,234,170 won. Secondly, the four standard child care service costs were calculated on the basis of the directors holding an additional teacher's position concurrently, whether the additional cooking staff were employed or not, and the type of lunch/snack materials.

• Culinary science and hospitality research
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• v.12 no.1 s.28
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• pp.188-202
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• 2006

With large corporations entering into the foodservice market, competitions among those foodservice providers became intense, leading to differentiated quality services in terms of portioning out the meal, its portion and waiting time, not to mention food quality. The purpose of providing foodservice is to satisfy its customers, to secure optimum level of profits, and attain continuous quality improvement. To have such purpose attained, all other factors affecting the foodservice should be allowed to play a role. The intensity of the work performed by the employees should be maintained at a steady level and systematically controlled. 'Service First’ principles upholding that customer satisfaction comes from good service should be applied at all times; customer satisfaction comes from the satisfaction of the employees. Customer satisfaction through good service will contribute to an increase in revenue which we get by subtracting operating expenses from the total sales, as it will lead to concluding a long-term supply contract or renewing the existing contract. To keep the operating expenses to the minimum level, it is important to effectively perform the cost control. Since personnel expenses occupy a large portion of the operating expenses, it is imperative to effectively control the labor costs. For this reason, this study will present an effective program for disposition of men with a large organization being centered around, where the number of people served at the mess hall varies greatly depending on a day of the week and a mealtime of the day.