试论现代医院资本经营与财务管理

Capital operation and financial control by modern hospitals

本文分析了当前医院资本经营的有利条件,包括产权制度改革和资本市场的发展,为医院实施资本经营提供了体制基础,外资和其他社会资本的介入为医院进行资本经营提供了机遇,联合重组为医院进行资本经营提供了有益尝试,上市融资为医院进行资本经营提供了新的渠道。阐述了内涵式经营和外延式经营方式的选择及集权、分权两种资本经营财务管理模式,提出了资本经营的投融资决策,即建立市场调节型的多元化融资机制、健全项目投资决策分析机制、加强资本经营的财务风险管理。

The paper first analyzes the currently existing favorable conditions for capital operation by the hospital, including the structural foundation laid by reform in the property right system and the development of the capital market, the opportunities provided by the inflow of foreign capital and other social capital, the beneficial experience gained from regrouping, and the new channels offered by funds raised by going public. Then it expounds the alternatives between the means of intensional operation and extensional operation and the two models of financial control in capital operation, viz. centralization and decentralization. The paper also presents some policy decisions on investment and fundraising in capital operation, namely, establishing a market-adjusted and diversified fundraising mechanism, improving the mechanism of decision analysis in project investment, and strengthening financial risk management in capital operation.