The Increasing Impact Of Basic Tenets Of Financial Analysis On Hospital Productivity

4 April 2015
Examines the past productivity records of U.S. hospitals. Discusses the changing needs of the health care industry, the growth of prospective payment systems and the potential impact of enacting total quality management (TQM) procedures.

The Increasing Impact of Basic Tenets of Financial Analysis on Hospital Productivity

Introduction
Hospitals are in the midst of a period of profound economic crisis, a time when many health care institutions are earning less and their staffs and administrations are feeling insecure about their futures (Sherman, 1990; Clare, Sargent, Rhodes, & Thane, 1995; Cooper & Kaplan, 1991; Wyszewianski, Thomas, & Friedman 1987). As Bard suggests, the American health care system is facing very critical times. We are closing in on annual expenditures of almost one trillion dollars a year. The system needs direction and effective change (Bard, 1994, 398). And yet few managers and physicians feel they truly understand …

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