
Financial performance analysis, evaluation and financial health asessment of PKU Muhammadiyah Surakarta Hospital, before and during implementation of digital transformation
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Digital Transformation (DT) has become a significant force in the ever-changing, and inevitable, world of healthcare and management. Not only does it change the way medical services are provided, but also the structure of the hospital's digitized information system as a whole. This study aims to analyze and evaluate how the impact of DT implementation to improve the quality of excellent service, effectiveness and operational efficency performance at PKU Muhammadiyah Surakarta Hospital. Secondary date of the hosoital's financial statements collected from 2016-2023, where 2016Q2-2023 were used to analyze and evaluate the hospital's financial ratios before and during DT implemantation. Financial ratios include liquidity, solvency, activity and provitabilityratios. The hospital implemented DT in 2020, and received the best Electronic Medical Record award in Cantral Java at 2023, and a national award as advanced referral health facilities poineer for implementing DT from 2023 DT Awards BPJS Kesehatan.
The pair t-test results of financial ratios : liqudity ratios of cash ratio and current ratio both with p=0.001, solvency ratios of ETA and DER both with p=0.000, and profitability ratios of ROI p=.013 and ROE p=0.014,showed thet these financial ratios during DT werebetter than before.
The activity ratios of CP p=0.111 and TATO p-0.082, indicate these financial ratios during DT were no better than before but there is a trend to be better. The financial health status of the hospitalas measured by the Alman Z score shows it was equally within the shfe zone before and during DT. The pair t - test showed p = 0.000, indicates that financial health status during DT is better than before. This research is expected to provide valuable insights and examples of how hospitals in Indonesia stategically utilize DT implementation to improve their financial performance. At ;east there are four things that hospitals can consider in this managerial implication : 1. Strategic Decision Making, 2. Investment in Digital Technology, 3. Training and Development, 4. Change / Transformation Management.
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