Financial Performance Analysis in Health Institutions between 2009-2021 in Turkey

İzzet Aydemir

Article Details

Financial Performance Analysis in Health Institutions between 2009-2021 in Turkey

Authors:

İzzet Aydemir

Publisher:

Kyrgyz-Turkish Manas University

Main Topics:

Sağlık Ekonomisi

Journal:

MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 1, pp.186-200

Document Type:

Article

Publication Date:

9/2024

Document Language:

Turkish

Document ID (Org No.):

2001309647

pISSN:

1694-7215

Keywords:

Abstract:

 With the transformation in health in Turkey, there has been remarkable developments such as being a regional health base. The positive correlation between health investments and development as well as a gradually increase in health expenditures have brought financial performance management to the fore. As financial performance indicators are the essential part of success and failure, analyzing the financial statements of hospitals provides evidence-based data pertaining to the strengths and weaknesses of the enterprises. In this paper, a sectoral analysis of health organizations that regularly submit data yearly to the Central Bank of the Republic of Turkey has been analyzed in terms of liquidity status, solvency structure, profitability, and efficiency status by using ratio and trend analysis techniques together. When analyzed, liquidity ratio items have been observed lower than the base year. In efficiency ratios, particularly in recent years, there has been a decrease in inventory turnover rate but an increase in account receivables turnover ratio. Furthermore, it has been determined that health organizations predominantly carry out their activities with liabilities. Although the operating profits of the enterprises are high, the net profit margin has generally shown a downward trend over the years. As for the return on equity, there has been an increase in the rate of return on equity in some years, however, generally remained below the base year. It is recommended that hospitals should increase the return on equity utilization and review their asset and resource structures.

 With the transformation in health in Turkey, there has been remarkable developments such as being a regional health base. The positive correlation between health investments and development as well as a gradually increase in health expenditures have brought financial performance management to the fore. As financial performance indicators are the essential part of success and failure, analyzing the financial statements of hospitals provides evidence-based data pertaining to the strengths and weaknesses of the enterprises. In this paper, a sectoral analysis of health organizations that regularly submit data yearly to the Central Bank of the Republic of Turkey has been analyzed in terms of liquidity status, solvency structure, profitability, and efficiency status by using ratio and trend analysis techniques together. When analyzed, liquidity ratio items have been observed lower than the base year. In efficiency ratios, particularly in recent years, there has been a decrease in inventory turnover rate but an increase in account receivables turnover ratio. Furthermore, it has been determined that health organizations predominantly carry out their activities with liabilities. Although the operating profits of the enterprises are high, the net profit margin has generally shown a downward trend over the years. As for the return on equity, there has been an increase in the rate of return on equity in some years, however, generally remained below the base year. It is recommended that hospitals should increase the return on equity utilization and review their asset and resource structures.

 With the transformation in health in Turkey, there has been remarkable developments such as being a regional health base. The positive correlation between health investments and development as well as a gradually increase in health expenditures have brought financial performance management to the fore. As financial performance indicators are the essential part of success and failure, analyzing the financial statements of hospitals provides evidence-based data pertaining to the strengths and weaknesses of the enterprises. In this paper, a sectoral analysis of health organizations that regularly submit data yearly to the Central Bank of the Republic of Turkey has been analyzed in terms of liquidity status, solvency structure, profitability, and efficiency status by using ratio and trend analysis techniques together. When analyzed, liquidity ratio items have been observed lower than the base year. In efficiency ratios, particularly in recent years, there has been a decrease in inventory turnover rate but an increase in account receivables turnover ratio. Furthermore, it has been determined that health organizations predominantly carry out their activities with liabilities. Although the operating profits of the enterprises are high, the net profit margin has generally shown a downward trend over the years. As for the return on equity, there has been an increase in the rate of return on equity in some years, however, generally remained below the base year. It is recommended that hospitals should increase the return on equity utilization and review their asset and resource structures.

 Türkiyede yaşanan sağlıkta dönüşümle birlikte bölgesel sağlık üssü olma hedefi doğrultusunda önemli gelişmeler yaşanmaktadır. Sağlık yatırımları ile kalkınma arasındaki olumlu ilişki ve bu doğrultuda sağlık harcamalarında yaşanan artışlar finansal performans yönetimini ön plana çıkarmıştır. Finansal performans göstergeleri, bir işletmenin başarı ya da başarısızlığının en önemli belirleyicileridir. Dolayısıyla hastanelerin bilanço ve gelir tablosuna dayalı finansal tablo analizlerinin çeşitli tekniklerle analiz edilmesi işletmelerin güçlü ve zayıf yönlerine ilişkin kanıta dayalı veriler sağlamaktadır. Bu amaçla araştırmada Türkiye Cumhuriyeti Merkez Bankasına her yıl düzenli olarak veri paylaşan sağlık işletmelerinin sektörel analizi yapılmıştır. Elde edilen veriler doğrultusunda araştırmada oran analizleri ve trend analizleri teknikleri kullanılarak hastane hizmetleri alt sektörlerinin likidite durumları, finansal yapı, kârlılık ve faaliyet durumları değerlendirilmiştir. Araştırmada elde edilen veriler doğrultusunda yapılan analizlerde likidite oranı kalemleri baz yıla göre düşük olmuştur. Faaliyet oranları incelendiğinde özellikle son yıllarda stok devir hızında bir azalış, ticari alacakların vadesinde de bir artış gözlenmiştir. Sağlık işletmelerinin ağırlıklı olarak yabancı kaynaklarla faaliyetlerini gerçekleştirdikleri saptanmıştır. İşletmelerin faaliyet kârlarının yüksek olmasına karşın net kâr marjı yıllar itibari ile genelde düşüş eğilimi göstermiştir. Öz sermaye kârlılık oranında bazı yıllarda artış gözlense de genelde baz yılın altında kaldığı tespit edilmiştir. Hastanelerin öz sermaye kullanım oranının artırılması ve varlık ve kaynak yapılarının gözden geçirilmesi önerilmektedir.

Article Details

Financial Performance Analysis in Health Institutions between 2009-2021 in Turkey

Authors:

İzzet Aydemir

Publisher:

Kyrgyz-Turkish Manas University

Main Topics:

Sağlık Ekonomisi

Journal:

MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 1, pp.186-200

Document Type:

Article

Publication Date:

9/2024

Document Language:

Turkish

Document ID (Org No.):

2001309647

pISSN:

1694-7215

Financial Performance Indicators

Ratio Analysis

Health Organizations

Sectoral Analysis

Trend AnalysisFinansal Performans Göstergeleri

Oran Analizleri

Sağlık İşletmeleri

Sektörel Analiz

Trend Analizi

Issues

Article Details

Authors: İzzet Aydemir

Publisher: Kyrgyz-Turkish Manas University

Main Topics: Sağlık Ekonomisi

Journal: MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 1, pp.186-200

Document Type: Article

Publication Date: 9/2024

Document Language: Turkish

Document ID (Org No.): 2001309647

pISSN: 1694-7215

Issues

Authors:

İzzet Aydemir

Publisher:

Kyrgyz-Turkish Manas University

Main Topics:

Sağlık Ekonomisi

Journal:

MANAS Sosyal Araştırmalar Dergisi Vol.13 Issue 1, pp.186-200

Document Type:

Article

Publication Date:

9/2024

Document Language:

Turkish

Document ID (Org No.):

2001309647

pISSN:

1694-7215