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KMID : 0926620220270030026
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Korean Journal of Hospital Management
2022 Volume.27 No. 3 p.26 ~ p.38
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Determinants of Profitability of Regional Public Hospitals in Korea - Focusing on the COVID-19 Pandemic Period -
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Ji Seok-Min
Ok Hyun-Min
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Abstract
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Purposes: We analyzed the profitability determinants of regional public hospitals during the entire period between 2010 and 2020 and the period before and after COVID-19. We intended to provide fundamental data for developing publicness evaluation index and task of establishing and expanding regional public hospitals.
Methodology: The financial and non-financial information of the regional public hospitals were used as the main analysis data; The financial data was established by the Center for Public Healthcare Policy of National Medical Center, and the non-financial data by the Health Insurance Review and Assessment Service. T-test and regression analysis were used.
Findings: The results can be summarized in two. First, the main determinants of profitability of the regional public hospitals were appeared to be the total asset turnover rate and the labor cost rate. Second, during the COVID-19 pandemic in the regional public hospitals, the number of sickbeds, the number of isolation rooms, the total asset turnover rate and the labor cost rate appeared to be the factor worsening the profitability.
Practical Implication: The results of this study suggests that the management of the regional public hospitals is not aiming for the profit making, but it performs the functions as the community healthcare safety net such as controlling infectious diseases.
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KEYWORD
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Regional Public Hospitals, Return on Assets, Operating Profit Margin, Profitability, COVID-19
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