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KMID : 1002520210150040019
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Korean Journal of Health Service Management
2021 Volume.15 No. 4 p.19 ~ p.30
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Factors Affecting Financial Performance of Public and Private Hospitals
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Kim Mi-Hui
Suh Jeong-Kyo
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Abstract
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Objectives: This study aimed to examine the financial performance of public and private hospitals, and evaluate factors affecting profitability.
Methods: Data were obtained from 166 statistically reliable Annual Balance Sheets (2019) submitted to the National Tax Service by advanced and general hospitals. They were investigated using a t-test and multiple regression analysis with profitability as a dependent variable.
Results: The stability, turnover, and profitability indices showed a statistically significant difference between public and private hospitals. Second, public hospitals tend not to link asset utilization to profits due to cost expenditure, and private hospitals link asset utilization to profit; however, advanced hospitals tend to be more advantageous.
Conclusions: Policies to improve financial performance should consider the fact that each factor has a different effect on profitability, depending on the hospital type.
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KEYWORD
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Financial Performance, Public Hospital, Private Hospital, Profitability
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