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KMID : 0861120110150020145
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Korean Journal of Oriental Preventive Medicine
2011 Volume.15 No. 2 p.145 ~ p.155
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A Profitability Analysis of Sixteen Oriental Medicine Hospitals
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Lee Woo-Cheon
Lee Sun-Dong
Kim Jin-Hyun
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Abstract
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The purpose of this paper is to review the profitability of sixteen university hospitals of oriental medicine during 2007~2009. Data was collected from 16 hospitals that reveal financial statements to the public and the hospitals were classified into 7 groups. Net sales and COGS per 100 beds of the 7 groups were analyzed to measure profitability and as a percentage of net sales, the rates of personnel expenses, maintenance costs, and material costs were evaluated. The results showed that six groups had consecutively recorded net loss in medical services and differences in profitability among 7 groups were substantial. The analysis showed the profitability was significant for medium-sized hospitals. The rates of personnel expenses in net sales were above 50% in 6 groups with net loss and one group with net profit was 45%. This result indicate the rate of personnel expenses in net sales could be the main factor affecting profitability and further studies are recommended to analyze the determinants of profitability in oriental medical hospitals.
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KEYWORD
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oriental medicine, general hospital, profitability, cost
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