Osong Public Health and Research Perspectives

Original Articles

Competitive Strategy for Successful National University Hospital Management in the Republic of Korea: Munjae Lee; Osong Public Health Res Perspect. 2016;7(3):149-156. Published online June 30, 2016; DOI: https://doi.org/10.1016/j.phrp.2016.02.002

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Objectives
This study provides information to aid decision making for managers and the staff of national university hospitals through analyzing their financial statements.
Methods
In order to analyze the finances of national university hospitals, this study used the report of final accounts announced by each hospital from 2009 to 2012 as baseline data. The research participants were 10 national university hospitals.
Results
According to the results of the analysis, most hospitals (except for a few) had medical expenses exceeding their medical revenues, resulting in a net deficit; however, there were significant differences amongst the hospitals. The result of adjustments based on a standard size of 100 beds showed that most hospitals had medical revenue deficits, and there were significant differences between hospitals in terms of medical revenues and medical costs.
Conclusion
It is not clear whether an expansion of national university hospitals is always beneficial for increasing net revenues, and it is necessary to establish a differentiation strategy to increase profitability by securing financial soundness instead of externally-oriented growth.

Citations

Citations to this article as recorded by

Internal Quality Process Management Evaluation in Higher Education by Students
Lucie Vnoučková, Hana Urbancová, Helena Smolová
Danube.2018; 9(2): 63. CrossRef
What Would Be a Better Strategy for National University Hospital Management?
Hae-Wol Cho, Chaeshin Chu
Osong Public Health and Research Perspectives.2016; 7(3): 139. CrossRef

Financial Analysis of National University Hospitals in Korea: Munjae Lee; Osong Public Health Res Perspect. 2015;6(5):310-317. Published online October 31, 2015; DOI: https://doi.org/10.1016/j.phrp.2015.10.007

3,155 View
19 Download
13 Crossref

Abstract PDF

Objectives
This paper provides information for decision making of the managers and the staff of national university hospitals.
Methods
In order to conduct a financial analysis of national university hospitals, this study uses reports on the final accounts of 10 university hospitals from 2008 to 2011.
Results
The results of comparing 2008 and 2011 showed that there was a general decrease in total assets, an increase in liabilities, and a decrease in total medical revenues, with a continuous deficit in many hospitals. Moreover, as national university hospitals have low debt dependence, their management conditions generally seem satisfactory. However, some individual hospitals suffer severe financial difficulties and thus depend on short-term debts, which generally aggravate the profit and loss structure. Various indicators show that the financial state and business performance of national university hospitals have been deteriorating.
Conclusion
These research findings will be used as important basic data for managers who make direct decisions in this uncertain business environment or by researchers who analyze the medical industry to enable informed decision-making and optimized execution. Furthermore, this study is expected to contribute to raising government awareness of the need to foster and support the national university hospital industry.

Citations

Citations to this article as recorded by

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Competitive Strategy for Successful National University Hospital Management in the Republic of Korea
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