Financial Analysis of Greek Public Pediatric Hospitals before and after the advent of the Covid-19 pandemic

G. Moustakis; D. Stasinopoulos; A. Flokou

doi:10.18535/ijsrm/v13i04.em06

Abstract

This paper aims to investigate the cost-effectiveness of the four Greek public pediatric hospitals through a financial analysis of their financial statements for the period 2017-2022. Special emphasis is given to the effects of the Covid-19 pandemic crisis that has hit the country, in order to analyze the challenges and evaluate the management of financial resources during this critical period.

The Covid-19 pandemic caused a significant increase in expenditure due to the emergencies that arose, such as the acquisition of personal protective equipment, the recruitment of additional workers and the strengthening of infrastructure. At the same time, hospitals’ revenues decreased due to reduced patient attendance and the postponement of scheduled surgeries. These conditions have forced hospitals to reorganize their resource management, focusing on responding to emergencies and ensuring the prevention of the spread of infections.

Keywords

financial ratiospediatric hospitalsCovid-19health indicators

References

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[refR-2] Bernstein, Leopold A (1993). Financial statement analysis: theory, application, and interpretation 5th Edition. USA, Virginia: CFA ExaminationsGoogle Scholar ↗

[refR-3] Samuels, J. M, Brayshaw R.E. and Craner J.M (1995). Financial statement analysis in Europe. London: Chapman & HallGoogle Scholar ↗

[refR-4] Gill., O. J & Chatton M. (1999). Understanding Financial Statements. A prime of Useful Information. Axzo PressGoogle Scholar ↗

[refR-5] Bartsch , S., Ferguson, M.,McKinnellJ.O'Shea , K.,Wedlock, P.,Siegmund, S., Lee, B. (2020).The Potential Health Care Costs And Resource Use Associated With COVID-19 In The United States. Health Affairs, 39(6), 927-935.Google Scholar ↗

[refR-6] Grant, M. (2002). Contemporary Strategy Analysis: Concepts, Techniques, Applications. Fourth Edition. Blackwell Publishers Inc. Malden, MA.Google Scholar ↗

[refR-7] Brodin, P. (2020). Why is COVID-19 so mild in children? Acta Pediatrica June : 109(6) 1082-1083. two: 10.1111/apa.15271DOI ↗Google Scholar ↗

[refR-8] Karagiannis, R. (2018). Relative effectiveness of the nursing activity of public hospitals in Greece. KEPE, Economic Developments, 37, 75-78Google Scholar ↗

[refR-9] Stasinopoulos D, Goula A, Kastanioti C, Sarris M, Soulis S (2024). Estimating Tax Evasion in the Medical Sector in Comparison with Other Human-to-human (Η2Η) Life Services. Journal of Health Management. 2024;26(1):13-27. doi:10.1177/09720634231222991DOI ↗Google Scholar ↗

[refR-10] Lee, Y., Lee, D., Choi, Y., Kim, J. W.,Lee, H., Lee, J. Y. (2023). COVID-19 pandemic and its impact on health expenditure. Public Health Affairs, 7(1) , 113-128. doi:10.29339/pha.23.12DOI ↗Google Scholar ↗

[refR-11] Meade, J. (2021). Mental Health Effects of the COVID-19 Pandemic on Children and Adolescents: A Review of the Current Research. Pediatric Clinic of North America. 68 945–959. doi: 10.1016/j.pcl.2021.05.003DOI ↗Google Scholar ↗

[refR-12] McKenzie, Wendy, (1998). Guide to using and interpreting company accounts. London: Financial Times-Pitman PublishingGoogle Scholar ↗

[refR-13] De Wit, B. & Meyer, R. (2004). Strategy: process, content, context (3rd Ed). London: Thomson LearningGoogle Scholar ↗

[refR-14] OECD. (2021). Health at a Glance 2021:OECD Indicarors, OECD Publishing. Retrieved from: https://www.oecd-ilibrary.org/social-issues-migration-health/health-at-a-glance-2021_ae3016b9-en 13/01/2025Google Scholar ↗

[refR-15] Johnson, G., Scholes, K. (2002). Exploring Corporate Strategy: Text and Cases. Harlow: Pearson EducationGoogle Scholar ↗

[refR-16] Patel, A. & Verma, A. (2020). Nasal ACE2 Levels and COVID-19 in Children. JAMA. 323(23):2386-2387. doi: 10.1001/jama.2020.8946DOI ↗Google Scholar ↗

[refR-17] Singh, S., Roy, D., Sinha, K., Parveen, S., Sharma, G., Gunjan, J. (2020). Impact of COVID-19 and lockdown on mental health of children and adolescents: A narrative review with recommendations. Psychiatry Research, November Vol 293, 113429. doi: 10.1016/j.psychres.2020.113429DOI ↗Google Scholar ↗

[refR-18] World Health Organization. (2024). Number of COVID-19 cases reported to WHO (cumulative total). Retrieved from: https://data.who.int/dashboards/covid19/cases?n=c στις 29/12/2024Google Scholar ↗

[refR-19] Stasinopoulos D, Soulis S Kastanioti C, Stasinopoulos V, Zegkou D. (2019). Evaluation of the Effect of the Economic Crisis on the Pharmaceutical Sector. Financial Statement Analysis Techniques: A Case Study of Greece. Archives of Hellenic Medicine 2019, 36(3):358-368Google Scholar ↗