The Effect Of Covid-19 Pandemic On Financial Performance Of Covid-19 Referral And Non-Referral Hospital
##plugins.themes.academic_pro.article.sidebar##
Published
Aug 30, 2022
Download
Statistic
Downloads
Download data is not yet available.
##plugins.themes.academic_pro.article.main##
Abstract
The purpose of this paper is twofold: to examine the relationship between Covid-19 pandemic and hospital performance and to compare the performance of Covid-19 referral and non-referral hospitals. To this end, secondary data were obtained from fourteen state-owned hospitals. These fourteen hospitals were parts of Indonesia Health Care Corporation (IHC). The data on hospital’s performance were used to represent the population of all state-owned hospitals in Indonesia. A correlation test was performed using the Rank Spearman test, while the comparison test was done using Mann-Whitney. Test results showed a weak, positive relationship between both types of hospitals in terms of ROA, a moderate, positive relationship between both types of hospitals in terms of EBITDA margin, and a moderate, negative relationship in terms of BOPO ratio. A significant difference in financial performance was also noticed between Covid-19 referral and non-referral hospitals. The result implies that hospitals play a central role in handling Covid-19 pandemic, especially those appointed as the referral hospital by the authority. Referral hospitals actively handled the pandemic, as indicated by the significant difference in financial performance compared to non-referral hospitals. This work is expected to contribute to future studies on similar topics and the hospital management's decision-making process when a similar condition occurs in the future.
##plugins.themes.academic_pro.article.details##
How to Cite
Lisamelia, & Adi Wiratno. (2022). The Effect Of Covid-19 Pandemic On Financial Performance Of Covid-19 Referral And Non-Referral Hospital. Enrichment : Journal of Management, 12(3), 2448-2458. https://doi.org/10.35335/enrichment.v12i3.680
References
Arianto, B. (2021) ‘Dampak Pandemi COVID-19 terhadap Perekonomian Dunia’, Jurnal Ekonomi Perjuangan, 2(2), pp. 212–224. doi: 10.36423/jumper.v2i2.665.
Badan Pusat Statistik (2020) Katalog: 3101028 Jilid 1 dan 2, Analisis Hasil Survei Dampak COVID-19 terhadap Pelaku usaha, p. vi+ 22 halaman. pp. 1–27. Available at: https://www.bps.go.id/publication/2020/12/21/7ec02d39d6732972dcebe54f/analisis-hasil- survei-dampak-covid-19-terhadap-pelaku-usaha-jilid-2.html.
BPS (2020) ‘Analisis Hasil Survei Dampak COVID-19 Jilid 2’, Analisis Hasil Survei Dampak COVID-19 terhadap Pelaku usaha, pp. 1–27. Available at: https://www.bps.go.id/publication/2020/12/21/7ec02d39d6732972dcebe54f/analisis-hasil- survei-dampak-covid-19-terhadap-pelaku-usaha-jilid-2.html.
Esomar, M. J. F. and Christianty, R. (2021) ‘Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI’, Jkbm (Jurnal Konsep Bisnis Dan Manajemen), 7(2), pp. 227– 233. doi: 10.31289
Hadiwardoyo, W., 2020, Kerugian Ekonomi Nasional Akibat Pandemi Covid-19, Journal of Business & Entrepreneurship, 2(2): 83-92.
Hall, Kauffman. (2021). Financial Effects of COVID-19: Hospital Outlook for the Remainder of 2021. E-book KaufmanHall.com.
Haryono, Siswoyo. (2012). Metodologi Penelitian Manajemen. PT Intimedia Pesonalia Utama, Jakarta.
Hassan Nezhad, B., & Moosavi Nezhad, S., & Enayat, H. (2021). Assessing the financial performance of hospitals in the Covid-19 crisis: a case study of a hospital in Tehran (Case Study). EBNESINA, 23(3 (76) ), 72-78.
Hidayah, N. (2020) ‘Strategi Rumah Sakit Merespon Pandemi Covid-19 di Era New Normal Asal Mula Pandemi Covid-19’, Mars.Umy.Ac.Id, pp. 1–32. Available at: https://mars.umy.ac.id/wp- content/uploads/2020/09/NUR Strategi-Rumah-Sakit-Merespon-Pandemi-Covid-19.pdf.
Hoeng, C. L. L. (2020) ‘Rising to the COVID-19 Health Care Challenge in Indonesia’, Deloitte, 175, pp. 1–10. Available at: https://www2.deloitte.com/id/en/pages/life-sciences-and-%09healthcare/articles/rising-to-covid-19-health-care-challenge-in-indonesia.html.
https://www.sid.ir/en/journal/ViewPaper.aspx?id=90301
Journal of Economics and Business, 4(2), p. 384. doi: 10.33087/ekonomis.v4i2.179.
Keputusan Menteri Kesehatan Republik Indonesia Nomor. HK.01.07/Menkes/238/2020 tentang Petunjuk Tekhnis Klaim Penggantian Biaya Perawatan Pasien Penyakit Infeksi Emerging Tertentu Bagi Rumah Sakit Yang Menyelenggarakan Pelayanan Corona Virus Disease 2019 (Covid-19). 06 April 2020.
Keputusan Presiden RI, “KEPPRES No. 12 Tahun 2020 tentang Penetapan Bencana Nonalam Penyebaran Corona Virus Disease 2019 (COVID-19) Sebagai Bencana Nasional [JDIH BPK RI],” Kementerian Sekretariat Negara Republik Indonesia, vol. 2019. pp. 1–3, 2020, [Online]. Available: https://peraturan.bpk.go.id/Home/Details/13571 8/keppres-no-12-tahun-2020.
Machbudiansyah, H., Paminto, A. and ... (2021) ‘Comparisonal Analysis of Financial Performance before and During the Covid-19 Pandemic at the Blud of the Atma Husada Mahakam Regional Mental Hospital in …’, … Research and Critics …, pp. 13498–13505. Available at: http://www.bircu-journal.com/index.php/birci/article/view/3427.
Mahubessy, F. F. and Darmawan, E. S. (2020) ‘Financial Performance of Hospital during Pandemic Covid 19’, BIRCI - Journal, 5(1), pp. 2230–2248.
Office, C. B. (2020) ‘2.aha-covid19-financial-impact-0520-FINAL’, American Hospital Association (May), pp. 1–11. www.aha.org.
Onibala, A., Rotinsulu, T. O. and Rorong, I. P. F. (2021) ‘Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Daerah Kabupaten Minahasa Tenggara’, Jurnal Pembangunan Ekonomi dan Keuangan Daerah, 22(2), pp. 67–89./jkbm.v7i2.5266.
Orlando, A. W. and Field, R. I. (2021) ‘Measuring the COVID-19 Financial Threat to Hospital Markets’, Inquiry (United States), 58, pp. 1–8. doi: 10.1177/00469580211059985.
Parker, G., Pickard, J., Cookson, C., & Pickford, J. (2020). UK to launch business rescue package to fight coronavirus fallout. Financial Times Online, Retrieved 4 April 2020 from https://www.ft.com/content/30931d90-6821-11ea-800d-da70cff6e4d3.
Poluakan, M. V., Dikayuana, D., Wibowo, H., & Raharjo, S. T. (2019). Potret Generasi Milenial pada Era Revolusi Industri 4.0. Focus: Jurnal Pekerjaan Sosial, 2(2), 187-197.
Putra, D. (2020) “Dampak Covid-19 Terhadap Kinerja Keuangan dan Kinerja Layanan Badan Layanan Umum di Indonesia”, Jurnal Manajemen Perbendaharaan, 1(1), pp. 51-67. doi: https://doi.org/10.33105/jmp.v1i1.344.
Sekaran, Uma, & Roger, Bougie. (2016). Research Methods For Business, A Skill-Building Approach (seventh edition). John Wiley & Son Ltd., www.wiley.com.
Siswantoro. (2020). Efek diumumkannya kasus pertama Covid-19 terhadap harga saham dan total saham yang diperdagangkan (The effect of the first Covid-19 case announcement on stock prices and stock trading totals). Jurnal Akuntansi, Keuangan, Dan Manajemen (Jakman), 1(3), 227– 238. Retrieved from https://doi.org/10.35912/jakman.v1i3.38
Stansell, Kaitlin, Study suggests hospitals will continue to struggle from COVID-19 financial impacts in 2021. 26 Maret 2021. https://www.live5news.com/
Synhorst, D.C., Bettenhausen, J.L., Hall, M., Thurm, C., Shah, S.S., Auger, K.A., Williams, D.J., Morse, R. and Berry, J.G. (2021), Healthcare Encounter and Financial Impact of COVID-19 on Children's Hospitals. Journal of Hospital Medicine, 16: 223-226. https://doi.org/10.12788/jhm.3572
Wawo, A. B. et al. (2020) ‘Performance Analysis of a Public Hospital in the COVID-19 Pandemic Using the Balanced Scorecard’, International Journal of Innovation, Creativity and Change, 14(12), pp. 486–507.
Widya Astari, D., Noviantani, A. and Simanjuntak, R. (2021) ‘Kepuasan Pasien terhadap Mutu Pelayanan Keperawatan di Era Pandemi Covid-19 di Rumah Sakit Mata Cicendo’, Journal of Hospital Accreditation, 03(1), pp. 34–38. Available at: http://jha.mutupelayanankesehatan.net/index.php/JHA/article/view/79.
Yamali, F. R. and Putri, R. N. (2020) ‘Dampak Covid-19 Terhadap Ekonomi Indonesia’, Ekonomis:
Yuniarti, R., Paryanti, D. and Tejaningsih, A. (2020) ‘Analysis of Financial Performance and Services Performance Before and During the Covid-19 Pandemic (Case Study At Bayu Asih Hospital Purwakarta)’, Turkish Journal of Physiotherapy and Rehabilitation, 32(3), pp. 6103–6112. Available at: https://turkjphysiotherrehabil.org/pub/pdf/321/32-1-742.pdf.
Zeho, F. H., Setyowati, E. and Hermawan, R. (2020) ‘The Impact of Pandemic Covid-19 on The Performance of Regional Public Hospital Based Approach to Balanced Scorecard In RSUD “ X ”’, Jurnal Sosial dan Humaniora, 23(3), pp. 194–199.
Badan Pusat Statistik (2020) Katalog: 3101028 Jilid 1 dan 2, Analisis Hasil Survei Dampak COVID-19 terhadap Pelaku usaha, p. vi+ 22 halaman. pp. 1–27. Available at: https://www.bps.go.id/publication/2020/12/21/7ec02d39d6732972dcebe54f/analisis-hasil- survei-dampak-covid-19-terhadap-pelaku-usaha-jilid-2.html.
BPS (2020) ‘Analisis Hasil Survei Dampak COVID-19 Jilid 2’, Analisis Hasil Survei Dampak COVID-19 terhadap Pelaku usaha, pp. 1–27. Available at: https://www.bps.go.id/publication/2020/12/21/7ec02d39d6732972dcebe54f/analisis-hasil- survei-dampak-covid-19-terhadap-pelaku-usaha-jilid-2.html.
Esomar, M. J. F. and Christianty, R. (2021) ‘Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI’, Jkbm (Jurnal Konsep Bisnis Dan Manajemen), 7(2), pp. 227– 233. doi: 10.31289
Hadiwardoyo, W., 2020, Kerugian Ekonomi Nasional Akibat Pandemi Covid-19, Journal of Business & Entrepreneurship, 2(2): 83-92.
Hall, Kauffman. (2021). Financial Effects of COVID-19: Hospital Outlook for the Remainder of 2021. E-book KaufmanHall.com.
Haryono, Siswoyo. (2012). Metodologi Penelitian Manajemen. PT Intimedia Pesonalia Utama, Jakarta.
Hassan Nezhad, B., & Moosavi Nezhad, S., & Enayat, H. (2021). Assessing the financial performance of hospitals in the Covid-19 crisis: a case study of a hospital in Tehran (Case Study). EBNESINA, 23(3 (76) ), 72-78.
Hidayah, N. (2020) ‘Strategi Rumah Sakit Merespon Pandemi Covid-19 di Era New Normal Asal Mula Pandemi Covid-19’, Mars.Umy.Ac.Id, pp. 1–32. Available at: https://mars.umy.ac.id/wp- content/uploads/2020/09/NUR Strategi-Rumah-Sakit-Merespon-Pandemi-Covid-19.pdf.
Hoeng, C. L. L. (2020) ‘Rising to the COVID-19 Health Care Challenge in Indonesia’, Deloitte, 175, pp. 1–10. Available at: https://www2.deloitte.com/id/en/pages/life-sciences-and-%09healthcare/articles/rising-to-covid-19-health-care-challenge-in-indonesia.html.
https://www.sid.ir/en/journal/ViewPaper.aspx?id=90301
Journal of Economics and Business, 4(2), p. 384. doi: 10.33087/ekonomis.v4i2.179.
Keputusan Menteri Kesehatan Republik Indonesia Nomor. HK.01.07/Menkes/238/2020 tentang Petunjuk Tekhnis Klaim Penggantian Biaya Perawatan Pasien Penyakit Infeksi Emerging Tertentu Bagi Rumah Sakit Yang Menyelenggarakan Pelayanan Corona Virus Disease 2019 (Covid-19). 06 April 2020.
Keputusan Presiden RI, “KEPPRES No. 12 Tahun 2020 tentang Penetapan Bencana Nonalam Penyebaran Corona Virus Disease 2019 (COVID-19) Sebagai Bencana Nasional [JDIH BPK RI],” Kementerian Sekretariat Negara Republik Indonesia, vol. 2019. pp. 1–3, 2020, [Online]. Available: https://peraturan.bpk.go.id/Home/Details/13571 8/keppres-no-12-tahun-2020.
Machbudiansyah, H., Paminto, A. and ... (2021) ‘Comparisonal Analysis of Financial Performance before and During the Covid-19 Pandemic at the Blud of the Atma Husada Mahakam Regional Mental Hospital in …’, … Research and Critics …, pp. 13498–13505. Available at: http://www.bircu-journal.com/index.php/birci/article/view/3427.
Mahubessy, F. F. and Darmawan, E. S. (2020) ‘Financial Performance of Hospital during Pandemic Covid 19’, BIRCI - Journal, 5(1), pp. 2230–2248.
Office, C. B. (2020) ‘2.aha-covid19-financial-impact-0520-FINAL’, American Hospital Association (May), pp. 1–11. www.aha.org.
Onibala, A., Rotinsulu, T. O. and Rorong, I. P. F. (2021) ‘Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Daerah Kabupaten Minahasa Tenggara’, Jurnal Pembangunan Ekonomi dan Keuangan Daerah, 22(2), pp. 67–89./jkbm.v7i2.5266.
Orlando, A. W. and Field, R. I. (2021) ‘Measuring the COVID-19 Financial Threat to Hospital Markets’, Inquiry (United States), 58, pp. 1–8. doi: 10.1177/00469580211059985.
Parker, G., Pickard, J., Cookson, C., & Pickford, J. (2020). UK to launch business rescue package to fight coronavirus fallout. Financial Times Online, Retrieved 4 April 2020 from https://www.ft.com/content/30931d90-6821-11ea-800d-da70cff6e4d3.
Poluakan, M. V., Dikayuana, D., Wibowo, H., & Raharjo, S. T. (2019). Potret Generasi Milenial pada Era Revolusi Industri 4.0. Focus: Jurnal Pekerjaan Sosial, 2(2), 187-197.
Putra, D. (2020) “Dampak Covid-19 Terhadap Kinerja Keuangan dan Kinerja Layanan Badan Layanan Umum di Indonesia”, Jurnal Manajemen Perbendaharaan, 1(1), pp. 51-67. doi: https://doi.org/10.33105/jmp.v1i1.344.
Sekaran, Uma, & Roger, Bougie. (2016). Research Methods For Business, A Skill-Building Approach (seventh edition). John Wiley & Son Ltd., www.wiley.com.
Siswantoro. (2020). Efek diumumkannya kasus pertama Covid-19 terhadap harga saham dan total saham yang diperdagangkan (The effect of the first Covid-19 case announcement on stock prices and stock trading totals). Jurnal Akuntansi, Keuangan, Dan Manajemen (Jakman), 1(3), 227– 238. Retrieved from https://doi.org/10.35912/jakman.v1i3.38
Stansell, Kaitlin, Study suggests hospitals will continue to struggle from COVID-19 financial impacts in 2021. 26 Maret 2021. https://www.live5news.com/
Synhorst, D.C., Bettenhausen, J.L., Hall, M., Thurm, C., Shah, S.S., Auger, K.A., Williams, D.J., Morse, R. and Berry, J.G. (2021), Healthcare Encounter and Financial Impact of COVID-19 on Children's Hospitals. Journal of Hospital Medicine, 16: 223-226. https://doi.org/10.12788/jhm.3572
Wawo, A. B. et al. (2020) ‘Performance Analysis of a Public Hospital in the COVID-19 Pandemic Using the Balanced Scorecard’, International Journal of Innovation, Creativity and Change, 14(12), pp. 486–507.
Widya Astari, D., Noviantani, A. and Simanjuntak, R. (2021) ‘Kepuasan Pasien terhadap Mutu Pelayanan Keperawatan di Era Pandemi Covid-19 di Rumah Sakit Mata Cicendo’, Journal of Hospital Accreditation, 03(1), pp. 34–38. Available at: http://jha.mutupelayanankesehatan.net/index.php/JHA/article/view/79.
Yamali, F. R. and Putri, R. N. (2020) ‘Dampak Covid-19 Terhadap Ekonomi Indonesia’, Ekonomis:
Yuniarti, R., Paryanti, D. and Tejaningsih, A. (2020) ‘Analysis of Financial Performance and Services Performance Before and During the Covid-19 Pandemic (Case Study At Bayu Asih Hospital Purwakarta)’, Turkish Journal of Physiotherapy and Rehabilitation, 32(3), pp. 6103–6112. Available at: https://turkjphysiotherrehabil.org/pub/pdf/321/32-1-742.pdf.
Zeho, F. H., Setyowati, E. and Hermawan, R. (2020) ‘The Impact of Pandemic Covid-19 on The Performance of Regional Public Hospital Based Approach to Balanced Scorecard In RSUD “ X ”’, Jurnal Sosial dan Humaniora, 23(3), pp. 194–199.