Финансова устойчивост на многопрофилните болници за активно лечение
Financial Sustainability of Multiprofile Hospitals for Active Treatment

Author(s): Galina Sabcheva
Subject(s): Social Sciences, Economy, Business Economy / Management, Sociology, Evaluation research, Management and complex organizations, Policy, planning, forecast and speculation, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: private hospitals; financial sustainability; financial analysis; data envelopment analysis; statistical significance
Summary/Abstract: The limited opportunities for private multiprofile hospitals for active treatment to access additional financing for their activities are the basis for the need to maintain an appropriate level of financial sustainability. This report aims to propose an approach for assessing the level of financial sustainability of private multiprofile hospitals for active treatment by applying a linear optimization model. Based on the discussed in the literature absolute indicators for assessing financial sustainability, basic financial coefficients are argued to be applied in the mathematical model. An output-oriented multiplicative data envelopment model is applied based on variable returns to scale. It is calculated an integral indicator of financial sustainability is. It has acceptable values for only 3 hospitals of a total 48 covered by research. For the remaining 45 medical institutions, the estimates are categorized as extremely low. To confirm the statistical significance of the applied approach correlation and regression analysis supplement the empirical study of the proposed variables indicators. The statistical significance of the applied model is confirmed. The proposed research methodology can be applied to other sectors of the national economy.

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