Is there a Future for Small Hospitals in Germany?
We analyse the fi nancial performance of small German hospitals based on balance sheet data of about 1,000 hospitals in 2007. Measures of fi nancial performance are the earnings before interest, tax, depreciation, and amortisation (EBITDA) and the probability of default (PD). We fi nd that, on average, small hospitals have more fi nancial diffi culties than large ones. However, there is considerable heterogeneity among small hospitals. While small private-for-profi t hospitals tend to perform very well, small public hospitals face considerable fi nancial problems. Apart from ownership, we fi nd that specialisation, less subsidies in absolute terms, and a higher share of lump-sum subsidies are associated with a better fi nancial performance.
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- Augurzky, Boris & Engel, Dirk & Schmidt, Christoph M. & Schwierz, Christoph, 2009. "Ownership and Financial Performance in the German Hospital Sector," Ruhr Economic Papers 123, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
- repec:zbw:rwirep:0123 is not listed on IDEAS
- Bruce Hollingsworth, 2008. "The measurement of efficiency and productivity of health care delivery," Health Economics, John Wiley & Sons, Ltd., vol. 17(10), pages 1107-1128.
- Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, 09.
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- Simpson, John, 1995. "A note on entry by small hospitals," Journal of Health Economics, Elsevier, vol. 14(1), pages 107-113, May.
- Augurzky, Boris & Gülker, Rosemarie & Krolop, Sebastian & Schmidt, Christoph M. & Schmidt, Hartmut & Schmitz, Hendrik & Terkatz, Stefan, 2010. "Krankenhaus Rating Report 2010: Licht und Schatten," RWI Materialien 59, RWI - Leibniz-Institut für Wirtschaftsforschung.
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