Department of Health Administration, Virginia Commonwealth University, Medical College of Virginia Campus, Richmond, 23298-0203, USA.
Acad Med. 2011 Sep;86(9):1100-7. doi: 10.1097/ACM.0b013e318226a1ef.
To examine cash flow margins in academic medical centers (AMCs; i.e., teaching hospitals) in an effort both to determine any significant differences in a set of operational and financial factors known to influence cash flow for high- and low-cash-flow AMCs and to discuss how these findings affect AMC operations.
The authors sampled the Medicare cost report data of 103 AMCs for fiscal years 2005, 2006, and 2007, and then they applied the t test to test for significant mean differences between the two cash flow groups across operational and financial variables (e.g., case mix, operating margin).
Compared with low-cash-flow AMCs, high-cash-flow AMCs were larger-bed-size facilities, treated cases of greater complexity, generated higher net patient revenue per adjusted discharge, served a significantly lower percentage of Medicaid patients, had significantly higher average operating profit margins and cash flow margin ratios, possessed a higher number of days of cash on hand, and collected their receivables more quickly.
Study findings imply that high-cash-flow AMCs were earning higher cash flow returns than low-cash-flow AMCs, which may be because high-cash-flow AMCs generate higher patient revenues while serving fewer lower-paying Medicaid patients.
考察学术医疗中心（AMC；即教学医院）的现金流利润率，以确定一系列已知会影响高现金流和低现金流 AMC 现金流的运营和财务因素之间是否存在显著差异，并讨论这些发现如何影响 AMC 的运营。
作者对 2005、2006 和 2007 财年的 103 家 AMC 的医疗保险费用报告数据进行了抽样，并通过 t 检验来检验两个现金流组在运营和财务变量（如病例组合、运营利润率）上的显著均值差异。
与低现金流 AMC 相比，高现金流 AMC 的病床规模更大，治疗的病例更复杂，每例调整后出院的净患者收入更高， Medicaid 患者比例显著较低，平均运营利润率和现金流利润率更高，手头现金天数更多，收款速度更快。
研究结果表明，高现金流 AMC 的现金流回报率高于低现金流 AMC，这可能是因为高现金流 AMC 在服务 Medicaid 患者比例较低的同时产生了更高的患者收入。
