J Korean Acad Nurs Adm.  2013 Jan;19(1):7-16.

Financial Ratio Analysis for Developing Nursing Management Strategies in University Hospitals

• Lim JY
• Noh W
• Oh SE
• Kim OG

Abstract

PURPOSE
The purpose of this study was to analysis the financial statements of university hospitals and to apply the results to build nursing management strategies.
METHODS
Data on the financial statements of university hospitals were collected each hospital's homepage or internet search from February to June, 2010. Financial statements of 11 hospitals were analyzed using the 4 categories of financial ratio analysis method: liquidity, performant, growth and turnover.
RESULTS
Overall results showed that the financial status the university hospitals were unstable, and many financial indicators did not meet financial standard ratios. Only 8 financial indicators of total 19 indicators satisfied financial standard ratios.
CONCLUSION
The results of financial statements analysis suggest that nurse managers should develop the blue ocean strategy for diversification of nursing services to improve financial ratios of liquidity, performance, and growth. Using a unit-based just-in-time system for effective supply management would help to increase profits and to decrease costs of hospital by improving financial ratios of turnover.

Keyword

Financial management; Hospitals

MeSH Terms

Financial Management
Hospitals, University
Humans
Internet
Nurse Administrators
Nursing Services

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