Abstract
Early identification, correct assessment and effective response to the risks that each economic operator threatens as a living entity is achieved by planning its future action while exploiting opportunities stemming from its economic and social environment. Thus, the systematic and continuous observation, recording, classification, utilization and evaluation of the information available which is achieved by the preparation of financial statements, especially in speculative public organizations such as hospitals, are absolutely necessary.
In the context of this work, the financial analysis of the financial statements of “Attikon”, one of the largest university hospitals in Attica, which absorbs a large share of the state budget, is being conducted for a decade (2008-2017) of constant changes and economic pressures, both domestic and international and led to major health changes, which have proven to have a positive effect on its financial position.
A longitudinal analysis was carried out using the indexes, from which useful outcomes were made regarding the liquidity, profitability, efficiency, financial structure and hospital activity. From the results of the financial analysis and given the unfavorable economic situation in which the country was found most of the evaluative years, it appears that the health policies implemented as a whole have significantly improved the financial position of the hospital nearly tripling net profit as well as working capital, making it able to cover 7.89 times its liabilities, while its viability depends directly on government grants, which, from 34% in 2008, ended up with 75% of total income exploitation in 2016 and almost 50% in 2017.
The main reasons for the positive financial results in hospital situations, especially during the years of crisis, were the issuance of government bonds at the expense of liabilities, grants in containment boxes of arrears and financial support, the rebate and clawback mechanisms, the Diagnosis-related group (DRG’s) payment system and deletions of high demand from National Organization for the Provision of Health Services (Greek acronym: ΕΟΠΥΥ).
