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Financial analysis of public hospitals in Greece
Category: Microeconomic Analysis
SubCategory: Health
Date: 18/12/2023
The main purpose of the study is to describe the health system and analyse the financial statements of public hospitals in Greece. The analysis of the financial data of public hospitals is an important step in assessing the country’s health sector. The IOBE analysis based on a sample of approximately 90 hospitals per year and 828 financial statements for the period 2012-2020 shows that the extensive reforms carried out through the economic adjustment programmes led to significant changes in the hospital finances. The financial ratios analysis shows that there is an improvement in liquidity, the indebtedness of hospitals is low, revenue from own sources has increased, and the percentage of hospitals with deficits has decreased significantly. The lack of infrastructure development by hospitals is reflected in the low value of the ratio of fixed assets to total assets. The study shows a decrease in the annual operating cost per hospital bed to 125,000 euros in 2020 from 146,000 euros in 2012. In terms of operating costs per patient, there was a drop in 2015-2012 (2,060 euros from 2,580 euros) and an increase after 2017 from 2,110 to 2,800 euros in 2020. The operating cost per day of hospitalisation followed a similar trend, falling from 667 euro in 2012 to 583 euro in 2015, to increase to 917 euro in 2020.

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