Development of a Financial Performance Index for Hospitals: DEA Approach

Yaşar A. Özcan · Michael J. McCue

65 citations0/0 files storedJournal of the Operational Research Society

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Efficiency Analysis Using DEA Accounting and Organizational Management Healthcare Quality and Management

Abstract

This paper presents an innovative method of measuring and assessing financial performance for hospitals using data envelopment analysis (DEA). A 6% national sample of acute care hospitals was used to compare conventional ratio analysis with the financial performance index (FPI), an aggregate measure of financial performance, developed in this study. The results showed that FPI has captured what various financial ratios indicate independently. The development of a FPI across many financial ratios eases the comparison of an individual hospital with its peers. Development and uses of a FPI can also be applied to other industries.

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References

1978Measuring the efficiency of decision making units 1977Intermediate Financial Management 1992Ownership and organizational performance. A comparison of technical efficiency across hospital types.1990Data envelopment analysis applied to financial statements 1986The methodology of data envelopment analysis 1989Data Envelopment Analysis for Managerial Control and Diagnosis*1993A national study of the efficiency of hospitals in urban markets.1980Cash Flows, Ratio Analysis and the W.T. Grant Company Bankruptcy

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