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KMID : 0387319960060010191
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Korean Journal of Health Policy and Administration
1996 Volume.6 No. 1 p.191 ~ p.210
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The applicability of financial indices as a measure of managerial performance of general hospitals
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Yoo Kyu-Soo
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Abstract
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This study purported to acquire information necessary to improve the operational efficiency of general hospitals. It tried to determine major indices which represent managerial performance of general hospitals and to identify the managerial characteristics of general hospital which affect the major financial indices. 20l hospitals which were subject to standardization audit by the Korean Hospital Association were investigated and 80 hospitals were finally chosen for this study. Their financial and managerial data during the period between January l991 and December 1981 were collected. Considering financial indices in this study were the ratio of net income to total asset, income growth rate, and quick ratio. The results of study are summarized as followings. First, The ratio of net income to total assets and quick ratio were highly related to managerial characteristics of general hospitals. Therefore, the standardization of three financial indices should be needed to systematically check the operational efficiency of general hospitals. Second, the sample hospitals can be classified as four groups on the basis of their financial indices´ level. 4 of those hospitals(5.0%) showed high level of performance in terms of three financial indices and 27 of them(33.7%) Showed that they are highly related to only two financial indices. 34 hospitals(42.5%) showed they have high level of relationship with only one indices and 15 hospitals(18.8%) Showed very weak performance level with three indices. In addition, there is no hospitals to show mid-range level of managerial performance in relation to al1 three financial indices. Third, there is no significant relationship between three financial indices and the managerial characteristics of hospitals such as the number of beds, type of operation, location of hospitals, and etc. However, in the case of hospitals which have high level of managerial performance, they have high level specialists and medical support personnel in comparison to low performance hospitals. They also have high level of bed occupancy rate and average length of stay(ALOS). In conclusion, the study showed the standardization of 3 financial indices are necessary to systematically evaluate the managerial performance of general hospitals and provide more accurate operational information for each hospital. To do so, it is necessary to focus on management side of hospital such as the effective human resource management and quality enhancement of medical treatment.
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KEYWORD
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Ratio net income to total assets, Income growth rate, Quick ratio
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