Using Fiscal Efficiency to Avoid Financial Crisis in Nakhon Si Thammarat Public Hospitals

Abstract

     This retrospective research aimed to study the fiscal efficiency against financial crisis in hospitals under the Ministry of Public Health in Nakhon Si Thammarat Province, and the relationships between financial performance and financial crisis. Study focused on data from the fiscal years of 2019 – 2021, inclusively. A total of 19 hospitals were included. The financial data were collected from the reports of the Division of Economics and Health Security, as well as from the Ministry of Public Health. The data were analyzed using descriptive statistics and Chi-square.

     Using a 3-year average score between the fiscal year 2019 - 2021, the results showed that 14 hospitals had a financial crisis score in the range of 0.00 - 3.99 points, representing 73.68%. There were five hospitals with a financial crisis score in the range of 4.00 – 6.00 points, which was expected to encounter problems, representing 26.32%. The financial efficiency in terms of profit making ability was statistically and significantly correlated with financial crisis (p-value = < 0.05).

     These findings must be seen keeping in mind there was a global Covid-19 pandemic. They also can be used to weight individual indicators of different aspects of financial performance for assessing overall financial performance that may result in a financial crisis and monitoring and adjusting financial performance in the short and long  term as well as able to provide quality service.