Financial performance measurement, analysis and evaluation of PT Siloam International hospitals Tbk Healthiness before and during COVID-19 pandemic (2016-2023)

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Rusep, Bobet Evih Hedi Ihnuna (2024) Financial performance measurement, analysis and evaluation of PT Siloam International hospitals Tbk Healthiness before and during COVID-19 pandemic (2016-2023). Graduate thesis, Sekolah Tinggi Manajemen IPMI.

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Abstract

The COVID-19 pandemic has impacted globally since March 2020, affecting the hospital sector led to a decrease in hospital utilization that could impact its financial performance and healthiness, including PT Siloam international hospitals Tbk (SILO) as one of the largest hospital groups in Indonesia. This study aimed to measure and analyse whether PT Siloam International Hospitals Tbk (SILO) financial performance during the COVID-19 pandemic was better than before and evaluate the company's healthiness before and during the COVID-19 pandemic. Measuring and analyzing financial performance based on eight financial ratios and a statistical one-tailed (right tail) two-dependent samples test was applied to validate significance. This research uses a quantitative research method with secondary data from 28 quarterly financial statements of SILO in the period 2016-2023. Evaluating the company health based on Altman Z-score was also carried out in 2018-2022. Liquidity and activity ratio of SILO has significantly less or equal between during and before the COVID-19 pandemic, proved by P-value>0.05, which means the null hypothesis was retained. Solvency ratio and profitability ratio of SILO during the COVID-19 pandemic significantly better than before COVID-19 pandemic with result p-value <0.05 which means null hypotheses rejected. Concluded of SILO's capacity to manage long-term obligations and how effectively the company generated profit from its sales during the COVID-19 pandemic was better than before the COVID-19 pandemic, and the company's capacity to manage short-term debt and how efficiently the company generated sales from its resources during the COVID-19 pandemic worse or equal to before COVID-19 pandemic. Regarding the financial healthiness, SILO had recorded a higher than 2.9 on the Altman Z-Score minimum score. In 2018 score 7.16, 5.85 FY2019, 4.71 FY2020, 6.70 FY2021 and 7.02 means SILO could managers their resources, in this case, their assets, to generate revenue as well as profits back to the business despite decreased trend line scores in 2019 and 2020. The crisis of COVID-19 pushed PT Siloam International Hospitals Tbk to readjust their strategies to become more sustainable during the COVID-19 pandemic. SILO new strategies is maximizing the value of existing hospitals and cost-effectiveness rather than expanding new hospitals as their before-COVID-19 pandemic strategies.

Item Type: Thesis (Graduate)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Thesis > Master of Business Administration
Depositing User: Dwi Selviyana
Date Deposited: 06 Aug 2024 02:57
Last Modified: 06 Aug 2024 02:57
URI: http://repository.ipmi.ac.id/id/eprint/2541

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