Conrad D A
Health Serv Res. 1984 Apr;19(1):41-63.
It is argued that not-for-profit hospitals can be assumed to generate a return on equity capital due, in principle, to competition in the final product market for hospital services and in the capital market. Practical difficulties in identifying claimants to the net income of the firm, as well as the incentive problems of cost-based reimbursement, suggest that a competitive pricing approach is likely to be the appropriate means to provide a reasonable return on equity for the not-for-profit and the for-profit hospital. Implications of the analysis for the correct discount rate in investment decisions are outlined.
有人认为，由于医院服务最终产品市场和资本市场存在竞争，原则上可以假定非营利性医院能产生股本回报率。确定公司净收益索取权方面的实际困难，以及基于成本的报销所带来的激励问题，表明竞争性定价方法可能是为非营利性医院和营利性医院提供合理股本回报的适当手段。文中概述了该分析对投资决策中正确贴现率的影响。
