Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital

Hanna Kociemska

doi:doi:10.11648/j.ijefm.20160402.16

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Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital

Hanna Kociemska

Published in International Journal of Economics, Finance and Management Sciences (Volume 4, Issue 2)

Received: 1 January 2016 Accepted: 20 January 2016 Published: 18 March 2016

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Abstract

This paper constitutes a contribution to a new discussion on the adequacy of existing company valuation methods with regard to the specific nature of medical entities in Poland. The research method used to fulfil the given scientific aims are: monographic methods, literature research on theory of company valuation, research survey on particular medical entity and its business performance results, statistical quantitative and qualitative analysis, case study analysis. The author points out the shortcomings of existing theories. Calls for taking into account the quality of the activities performed by medical companies in the methodology used for their valuation. As the outcome it is underlined that the human capital at the hospital is one of the key indicators of quality of their activity, translating into the value the entity has for its owner. Thus the scientific conclusion will be that better quality the medical personnel was the better financial ratios were achieved but it doesn’t find it’s reflection in existing company valuation method. Specially in case of medical entities human capital value seems to be crucial according to the business. It is being shown on cardiac hospital example. It should be evaluated on existing theories and looked for more sophisticated valuation method adjustable for health care entities not only in Poland but worldwide.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 4, Issue 2)
DOI	10.11648/j.ijefm.20160402.16
Page(s)	78-82
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Human Capital, Value of Medical Entity, Mmedical Market, Hospital Market Transformation

References

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[2]	Couper I. Prof, Jannie Hugo Prof, Management of district hospitals, suggested elements for improvement August 2002, Health Systems Trust, ISBN: 1-919743-68-5, p. 5.
[3]	Horosz P., Komercjalizacja szpitali i jej skutki w świetle przepisów polskiego prawa gospodarczego, ABC Wolter Kluwers Business, Warszawa 2011, p. 44.
[4]	Koller T., Goedhard M., Wessels D., Valuation University Edition, Measuring and Managing the Value of Companies, McKinsey and Company, 2010.
[5]	Molesworth Sue, Rosalyn Beddows, Helen Parker, University of Keely, Staforsshire, Anglia, Self-directed Team Models in Healthcare Settings.
[6]	Moshe B. H., Jeffrey L. Callen, the cost of capital, Macaulay’s duration and Tobin’sq., The Journal of financial research, Vol. XII, No. 2, 1989.
[7]	Pantafil M., A. Szablewski, Metody wyceny spółki perspektywa klienta i inwestora, Poltext Warszawa 2009, p. 37.
[8]	Urbanek G., in: M. Pantafi, A. Szablewski op. cit., p. 179.
[9]	Carol Yeh-Yun Lin, Process innovation of an open heart surgical team, National Chengchi University, August 2004, conference paper.
[10]	What is Their Potential for Adding Value to the Intellectual Capital of Healthcare Organisations, http://community.mis.temple.edu/mis5102sec401/files/2011/02/Self-directed-Team-Models-in-healthcare.pdf.
[11]	Report National Cardiac Consultant, Ministry of Health, www.mz.gov.pl, September 2012.
[12]	http://www.ifac.org/system/files/publications/files/Good-Governance-in-the-Public-Sector.pdf.
[13]	The workforce for health in globalized context – global shortage and international migration, Christoph Aluttis, Tewabech Bishaw, Martina W. Frank, Glob Health Action. 2014; 7: 10.3402/gha.v7.23611. Published online 2014 Feb 13. doi: 10.3402/gha.v7.23611.
[14]	Lindsay Moore Dr., Lesley Craig, Intellectual Capital in Enterprise Success, Strategy Revised, John Wiley and Sons, 2008.

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APA Style

Hanna Kociemska. (2016). Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital. International Journal of Economics, Finance and Management Sciences, 4(2), 78-82. https://doi.org/10.11648/j.ijefm.20160402.16

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ACS Style

Hanna Kociemska. Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital. Int. J. Econ. Finance Manag. Sci. 2016, 4(2), 78-82. doi: 10.11648/j.ijefm.20160402.16

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AMA Style

Hanna Kociemska. Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital. Int J Econ Finance Manag Sci. 2016;4(2):78-82. doi: 10.11648/j.ijefm.20160402.16

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@article{10.11648/j.ijefm.20160402.16,
  author = {Hanna Kociemska},
  title = {Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {4},
  number = {2},
  pages = {78-82},
  doi = {10.11648/j.ijefm.20160402.16},
  url = {https://doi.org/10.11648/j.ijefm.20160402.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20160402.16},
  abstract = {This paper constitutes a contribution to a new discussion on the adequacy of existing company valuation methods with regard to the specific nature of medical entities in Poland. The research method used to fulfil the given scientific aims are: monographic methods, literature research on theory of company valuation, research survey on particular medical entity and its business performance results, statistical quantitative and qualitative analysis, case study analysis. The author points out the shortcomings of existing theories. Calls for taking into account the quality of the activities performed by medical companies in the methodology used for their valuation. As the outcome it is underlined that the human capital at the hospital is one of the key indicators of quality of their activity, translating into the value the entity has for its owner. Thus the scientific conclusion will be that better quality the medical personnel was the better financial ratios were achieved but it doesn’t find it’s reflection in existing company valuation method. Specially in case of medical entities human capital value seems to be crucial according to the business. It is being shown on cardiac hospital example. It should be evaluated on existing theories and looked for more sophisticated valuation method adjustable for health care entities not only in Poland but worldwide.},
 year = {2016}
}

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TY  - JOUR
T1  - Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital
AU  - Hanna Kociemska
Y1  - 2016/03/18
PY  - 2016
N1  - https://doi.org/10.11648/j.ijefm.20160402.16
DO  - 10.11648/j.ijefm.20160402.16
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 78
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PB  - Science Publishing Group
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UR  - https://doi.org/10.11648/j.ijefm.20160402.16
AB  - This paper constitutes a contribution to a new discussion on the adequacy of existing company valuation methods with regard to the specific nature of medical entities in Poland. The research method used to fulfil the given scientific aims are: monographic methods, literature research on theory of company valuation, research survey on particular medical entity and its business performance results, statistical quantitative and qualitative analysis, case study analysis. The author points out the shortcomings of existing theories. Calls for taking into account the quality of the activities performed by medical companies in the methodology used for their valuation. As the outcome it is underlined that the human capital at the hospital is one of the key indicators of quality of their activity, translating into the value the entity has for its owner. Thus the scientific conclusion will be that better quality the medical personnel was the better financial ratios were achieved but it doesn’t find it’s reflection in existing company valuation method. Specially in case of medical entities human capital value seems to be crucial according to the business. It is being shown on cardiac hospital example. It should be evaluated on existing theories and looked for more sophisticated valuation method adjustable for health care entities not only in Poland but worldwide.
VL  - 4
IS  - 2
ER  -

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Author Information

Hanna Kociemska

Finance Faculty, University of Economics in Wroclaw, Wroclaw, Poland

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APA Style

Hanna Kociemska. (2016). Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital. International Journal of Economics, Finance and Management Sciences, 4(2), 78-82. https://doi.org/10.11648/j.ijefm.20160402.16

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ACS Style

Hanna Kociemska. Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital. Int. J. Econ. Finance Manag. Sci. 2016, 4(2), 78-82. doi: 10.11648/j.ijefm.20160402.16

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AMA Style

Hanna Kociemska. Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital. Int J Econ Finance Manag Sci. 2016;4(2):78-82. doi: 10.11648/j.ijefm.20160402.16

Copy | Download

@article{10.11648/j.ijefm.20160402.16,
  author = {Hanna Kociemska},
  title = {Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {4},
  number = {2},
  pages = {78-82},
  doi = {10.11648/j.ijefm.20160402.16},
  url = {https://doi.org/10.11648/j.ijefm.20160402.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20160402.16},
  abstract = {This paper constitutes a contribution to a new discussion on the adequacy of existing company valuation methods with regard to the specific nature of medical entities in Poland. The research method used to fulfil the given scientific aims are: monographic methods, literature research on theory of company valuation, research survey on particular medical entity and its business performance results, statistical quantitative and qualitative analysis, case study analysis. The author points out the shortcomings of existing theories. Calls for taking into account the quality of the activities performed by medical companies in the methodology used for their valuation. As the outcome it is underlined that the human capital at the hospital is one of the key indicators of quality of their activity, translating into the value the entity has for its owner. Thus the scientific conclusion will be that better quality the medical personnel was the better financial ratios were achieved but it doesn’t find it’s reflection in existing company valuation method. Specially in case of medical entities human capital value seems to be crucial according to the business. It is being shown on cardiac hospital example. It should be evaluated on existing theories and looked for more sophisticated valuation method adjustable for health care entities not only in Poland but worldwide.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - Human Capital as One of the Drivers of Reliable Value of Medical Entities on the Example of International Cardiac Hospital
AU  - Hanna Kociemska
Y1  - 2016/03/18
PY  - 2016
N1  - https://doi.org/10.11648/j.ijefm.20160402.16
DO  - 10.11648/j.ijefm.20160402.16
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 78
EP  - 82
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20160402.16
AB  - This paper constitutes a contribution to a new discussion on the adequacy of existing company valuation methods with regard to the specific nature of medical entities in Poland. The research method used to fulfil the given scientific aims are: monographic methods, literature research on theory of company valuation, research survey on particular medical entity and its business performance results, statistical quantitative and qualitative analysis, case study analysis. The author points out the shortcomings of existing theories. Calls for taking into account the quality of the activities performed by medical companies in the methodology used for their valuation. As the outcome it is underlined that the human capital at the hospital is one of the key indicators of quality of their activity, translating into the value the entity has for its owner. Thus the scientific conclusion will be that better quality the medical personnel was the better financial ratios were achieved but it doesn’t find it’s reflection in existing company valuation method. Specially in case of medical entities human capital value seems to be crucial according to the business. It is being shown on cardiac hospital example. It should be evaluated on existing theories and looked for more sophisticated valuation method adjustable for health care entities not only in Poland but worldwide.
VL  - 4
IS  - 2
ER  -

Copy | Download