Evaluation of financial management and diversification of financing method of medical institution using credit rating

2018 Fiscal Year Final Research Report

• Project/Area Number: 15K21521
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Public finance/Public economy; Accounting
• Research Institution: Kansai University
• Principal Investigator: Tamura Kazuko 関西大学, 商学部, 准教授 (40411491)
• Project Period (FY): 2015-04-01 – 2019-03-31
• Keywords: 医療機関債 / 医業経営 / 債券 / 地域医療 / 地域医療構想

Outline of Final Research Achievements

This research is an attempt to use credit rating for financial evaluation of medical institutions and analysis of the possibility of diversification of financing.
Credit rating of medical institutions evaluates factors specific to medical institutions, such as regional characteristics such as population and facilities and equipment. However, due to a decrease medical institutions that obtain credit ratings, we were not able to generalized. On the other hand, we surveyed hospital that are actively issuing medical institution bonds and analyzed diversification of funding. As a result, it has become clear that medical institution bonds are not only for the purpose of financing but rather for strategic use as an indirect means of strengthening the linkage between family doctors and general hospitals in regional medicine.

Free Research Field

証券市場

Academic Significance and Societal Importance of the Research Achievements

医療機関債は、医療機関の経営安定のため多様な資金調達を可能にするべく導入されたが、その後の動向については、これまで分析された例は少ない。本研究では活発に医療機関債（社会医療法人債）を発行している医療機関に対して調査を行い、医療機関債が単に資金調達だけではなく、病院経営および地域医療の連携におけるネットワーク強化の1つの手段として利用されている状況を明らかにした。これは、これまで想定されていた状況とは異なる医療機関債発行の新たな展開を示唆する点で、意義ある研究であると考える。