Critical Analysis of Financial Statements of Public Hospitals. Case Study: The 5th Health Region of Greece

Elpiniki Georgoulopoulou, Vasiliki Karagianni, Stamatios Ntanos, Grigoris Gikas and Anastasios Sepetis ()
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Elpiniki Georgoulopoulou: Hellenic Open University
Vasiliki Karagianni: University of West Attica
Stamatios Ntanos: University of West Attica
Grigoris Gikas: University of West Attica
Anastasios Sepetis: University of West Attica

A chapter in Strategic Innovative Marketing and Tourism, 2026, pp 505-513 from Springer

Abstract: Abstract The financial performance of public hospitals is a critical factor in improving the quality of life and promoting public health. This research paper focuses on financial analysis, a discipline centered on the evaluation of financial statements, to assess the financial health and performance of an organization. Through a variety of analytical methods and comprehensive financial analysis of four public hospitals in the 5th Regional Health Authority over the period 2012–2022, it aims to offer a comprehensive understanding of an organization’s economic condition. In the context of healthcare institutions, financial analysis is not merely a tool for measuring efficiency; it is also essential for evaluating how financial resources are allocated and utilized to provide medical services. We analyzed financial statements using liquidity and activity ratios, performance metrics, and the Altman Z-score, which estimates the likelihood of corporate bankruptcy, to generate a single composite score indicating thehospitals’ financial condition. The findings aim to inform healthcare managers and administrators by identifying areas of strength and weakness in financial management, thereby supporting more effective and informed decision-making within the public healthcare sector.

Keywords: Balance sheet; Financial statements; Public hospitals (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-032-12968-0_55

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DOI: 10.1007/978-3-032-12968-0_55

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