CHAPTER
I
1.1.
Background
A health
institution as BLU has a function as a service business unit which provide
social services in health sector. Hospital management system after the Public
Service Institution concept will change from Public goods which has the
characteristics of hospital organizational bureaucracy such as legislation,
regulation, otorization, and control towards the units supervised by the
hospital into a Semi Public Goods which refer to services, and has the
characteristics of non profit and Internal Services Agencies which give power
to each of the Instalation and other work units with a semi autonomy or
autonomy pattern.
Based
on the Finance Minister Decree Number 273/KMK.05/2007 dated 21 Juni 2007 and
the Health Minister Decree Number 756/MenKes/SK/VI/2007 dated 26 Juni 2007,
RSUP dr. Soeradji Tirtonegoro Klaten was appointed as a Hospital with Public
Services Institution's Financial Management Pattern. With the status change,
the hospital is set to manage and process the funds so that it can produce from
its investment and potential effectively, efficiently, transparently, and
accountably. This BLU concept aims to improve the performance and the quality
of the services to the stakeholders. If this BLU concept can be optimally
utilized, it is expected to continue on to the development and application of
good governance in the RSUP dr. Soeradji Tirtonegoro management. In the future,
the concept of independent health services can be applied completely.
1.2.
Research
Objectives
This
research aims to test the difference in financial performance before and after
the application of PK-BLU and evaluate the application of PK-BLU if its
financial management flexibility may improve the financial performance of RSUP
dr. Soeradji Tirtonegoro Klaten as a BLU work unit.
CHAPTER
II
2.1.
Literature
Review
Mahmudi
(2010) suggested that there are several analysis technique for local government
financial reports, that is:
1. Variance
Analysis
This analysis is generally used to analyze
the budget realization reports which done by evaluating the differences between
the budget and the actual.
2. Financial
Ratios Analysis
This analysis is a
comparison between two numbers which data were obtained from the financial
reports. This analysis can be used to interpret the performance development
from year to year.
3. Trend
Analysis
This analysis is done
to identify the tendency both the increase and the decrease of performance
within a specific time period.
4. Regression
Analysis
Regression analysis is
done to test the influence of independent variable on the dependent variable.
This analysis is beneficial for public policy research which results can be
applied by the government.
5. Prediction
Analysis
The financial report
data can also be used for prediction analysis of projection. For example, to
predict next year income, the data for the current year and the previous years
may also be used as prediction basis.
2.2.
The definition of BLU
according to Chapter 1 UU No. 1/2004 about State Finance is an institution
within the government scoper which was established to provide services to the
community in the form of goods and/or services which are sold without porift
orientation and perform its activities based on the efficiency and productivity
principles.
2.2.
Previous
Research
A research on
financial performance differences before and after the application of PPK-BLU
in an institution was done by Wijayaningrum (2011) in a thesis entitled " Financial Management Flexibility
Analysis towards Financial Performance on Health Sector Public Services
Institution before and after the Application of PPK-BLU (A Study in RSUP Dr.
Sardjito Yogyakarta)". The result of the research showed that before
converted into BLU the financial performance of RSUP Dr. Sardjito experienced a
decrease in margin ratio, current ratio, quick ratio, ROA ratio and ROE ratio.
however, after BLU was applied, the hospital has successfully improved its
financial performance effectively and efficiently according to the purpose of
PPK-BLU.
Another
research was also done by Prihandini (2007) with a thesis entitled " Financial Performance Analysis on Public
Services Institution and Identification of its Tax Subject (A Study in RSUP
Fatmawati Jakarta)". The result of this research shows that before the
hospital was a BLU, the financial performance of RSUP Fatmawati experienced a
decrease which can be seen in the operating
margin ratio, current ratio, quick ratio, ROA ratio dan ROE ratio. The decrease was caused
due to the net balance of the activa was partly used on constant investment
which has a very low level of investment return. After BLU, there was a
decrease in the liquidity ratio which was shown in the reduction of idle cash
such as time deposits. However, there were also increases in the ratios of total assets turnover, fixed assets turnover, current assets turn over, which
indicated an increasing level of management efficiency level.
CHAPTER
III
To compare the financial performance
before and after the application of PPK-BLU in RSUP dr. Soeradji Tirtonegoro
Klaten based on its financial reports, there is a need for standard
measurements, that is financial ratios as financial performance evaluation
indicators. Based on several sources likes, Brigham and Ehrhardt (2005),
Brigham and Houston (2007), and others the financial ratios used to analyze the
financial performance in this research are as follow.
1) Current Ratio = Current Asset x
100%
Current
liabilities
2) Quick Ratio = Current
Asset-Inventoeries x 100%
Current
Liabilities
3) Cash Ratio = Cash x 100%
Current
Liabilities
4) Debt Ratio = Total Assets-Total Equity x
100%
Total Assets
5) Rasio Solvabilitas = Total
Assets x 100%
Total
Account Payables
6) Working Capital to Total Assets = Current
Assets – Current Liabilities
Total
Assets
7) Net Days Revenue in A/R = Receivables
(Operational
Income/365)
8) Net
Activa on Total Activa = TotalAktiva
bersih x 100%
Total Asets
9) Total Asset Turnover Ratio = Sales x 100%
Total
Assets
10) Collection Period = Account
Receivables x 100%
Sales
11) Return On Investment Ratio = EBIT
+ Depreciation x 100%
Capital
Employed
12) Return On Asset Ratio = Net
Income x 100%
Total
Assets
13) Inventory Turnover Ratio = Sales
x 100%
Inventory
14) Profit Margin Ratio = Net
Income x 100%
Sales
15) Cash Flow Margin Ratio = (Net
Activa - Income) x 100%
16) Money Growth Ratio = Payables
(n-0) x 100%
Payables
0
17) Payables on Income Ratio = Total
Payables x 100%
Total
Income
18) Income Growth Ratio = Income
(n-0) x 100%
Income
0
19) Fund Growth Ratio = Fund
(n-0) x 100%
Fund
0
20) Activa Growth Ratio = Activa
(n-0) x 100%
Activa
0
21) Passiva Growth Ratio = Passiva
(n-0) x 100%
Passiva
0
CHAPTER
IV
4.1.
The
Result of Financial Performance Analysis of RSUP Dr. Soeradji
Tirtonegoro Klaten before BLU
The
financial performance analysis data of RSUP Dr. Soeradji Tirtonegoro Klaten before
becoming a BLU are the financial reports from the year 2003, 2004, 2005, and
2006 as well as their financial ratios as a comparison towards the financial
report for before becoming a BLU or after becoming a BLU.
If
we evaluate the financial reports from the year 2003 to 2006, we can see a
significant increase in the operational income. The comparison of the income
between 2003 and 2004 are 17.67%, whereas in 2005 it increases 40%, and in year
2006 it increases 47.24%. The comparison of operational expenses in 2003 and
2004 is 19.86%, whereas in 2005 it increases 12.43%, and in year 2006 it
increases 39.63%.
4.2.
The
Result of Financial Performance Analysis of RSUP Dr. Soeradji
Tirtonegoro Klaten after BLU
The
data used is the financial data of RSUP Dr. Soeradji Tirtonegoro from 2007 to 2010.
From the reports, we can see that there was an increase in the operational
income within the period. In 2007, there was a 9.83%. In 2008, it increased to
51.21%, in 2009 it increased to 59.49%, and in 2010 it hiked to 30.10%. The
increase in the operational income was not in balance with the increase of
operational expenses. In 2007, the operational expenses increased 22.66%. in
the next years, the operational expenses increased 39.40%, 19.78%, and 34.16%
consecutively.
4.3.
Financial
Performance Analysis of RSUP dr. Soeradji Tirtonegoro
Klaten through Statistical Test
The indicators
for RSUP dr.
Soeradji Tirtonegoro Klaten financial performances
before and after the BLU were measured based on the financial reports between
2003-2010. There were three phases in this analysis that is Descriptive
Statistics before BLU periode, Descriptive Statistics after BLU periode,
Hypothesis testing, and Data Analysis and Discussion.
The financial
performance variables of RSUP dr. Soeradji Tirtonegoro Klaten
measured using the financial ratios in the period after BLU application did not
show significant changes compared to before the application of BLU. The change
in the status to BLU in 2007 did not cause the financial management performance
of RSUP Dr.
Soeradji Tirtonegoro Klaten becomes better or
worse.
The absence of
evidences for all hypothesis indicate that the financial performance of RSUP dr. Soeradji Tirtonegoro Klaten
before the BLU application has no significant differences if compared to the
financial performance after the BLU when seen from the liquidity ratio,
solvability, variance, proportion and financial growth.
CHAPTER
V
5.1.
Conclusion
1. The
financial performance analysis in RSUP Dr. Soeradji Tirtonegoro Klaten
done in this research was only based on the financial reports provided by RSUP
Dr. Soeradji tirtonegore Klaten before and after the BLU was applied. This
research was not done in-depth or by taking external factors and macro economy
into account.
2.
Even though it is
currently a BLU, RSUP Dr. Soeradji Tirtonegoro Klaten can directly utilize the
operational income in which the surplus is used to fund the operational
expenses for the continuity of the services to the community.
5.2.
Recommendation
1.
Government institutions
with a BLU status and apply the PPK-BLU may improve their financial performance
by utilizing the flexibility given optimally in PPK-BLU, that is by using the
direct income for operational and using the surplus for investment that can
increase the BLU income.
- The
financial performance can also be improved by optimally and efficiently
utilizing the investment owned in the activa to improve services to the
community.
References
Badan Pengawas Pasar Modal,
Surat Edaran Ketua Badan Pengawas Pasar Modal Nomor SE-02/PM/2002 tanggal 27
Desember 2002 tentang Pedoman Penyajian dan Pengungkapan Laporan Keuangan,
Jakarta, 2002.
Cooper, Donald R. dan
Schindler, Pamela S. 2010. Business
Research Methods. The McGraw-Hill
Companies. Inc. New York.
Hanafi, M. Mamduh Dr, MBA, dkk. 1995. Analisis laporan Keuangan, Edisi Revisi; UPP AMP YKPN, Yogyakarta.
_____, M Mamduh dan Abdul
Halim. 2003. Analisis Laporan Keuangan,
UPP AMP YKPN, Yogyakarta.
Husnan, Suad dan Pudjiastuti,
Enny. 2006. Dasar-Dasar Manajemen
Keuangan. UPP AMP YKPN. Yogyakarta
Jones,
Charles P. 2000. Investment :
Analysis and Management, John Wiley & Sons Inc, New York.
Kusumawati, Ika Henni, Analisis
Kinerja Keuangan PT. Semen Cibinong Sebelum dan Sesudah Akuisisi,
Fakultas Ekonomi UMM, Malang, 2007 .
Mahmud, Abdul Halim. 2003. Analisis Laporan
Keuangan, Cetakan Pertama, UPP STIE
YKPN, Yogyakarta.
Mahmudi,
2010, Analisa Laporan Keuangan Pemerintah Daerah, edisi keempat, UPP
STIM YKPN, Yogyakarta.
Mulyadi.
1997. Akuntansi Manajemen, Konsep, Manfaat dan Rekayasa, Edisi Kedua, STIE YKPN, Yogyakarta.
Norpatiwi, A.M. Vianey, Aspek
Value Added Rumah Sakit Sebagai Badan Layanan Umum, sebuah artikel, Jakarta, 2006.
Pemerintah Republik Indonesia, Peraturan Pemerintah Nomor 23 Tahun
2005 tentang Pengelolaan Keuangan Badan Layanan Umum, Jakarta, 2005.
Republik Indonesia, Undang-Undang Nomor 1 Tahun 2004 tentang
Perbendaharaan Negara, Jakarta, 2004.
Republik Indonesia, Undang-Undang Nomor 17 Tahun 2003 tentang
Keuangan Negara, Jakarta, 2003.
Riyanto, Bambang. 1997. Dasar-dasar Pembelanjaan Perusahaan,
Edisi 4, BPFE, Yogyakarta.
Sari, Carolina Candri Prihandini. 2007. Analisis Kinerja Keuangan Badan layanan Umum dan Penentuan Subjek
Pajaknya (Studi Kasus pada RSUP Fatmawati Jakarta), Fakultas Ekonomi UI,
Jakarta, 2007.
Sartono, A. 2001. Manajemen
Keuangan. Edisi 3, BPFE, Yogyakarta.
Priyanto, Duwi. 2010. Teknik
Mudah dan Cepat Melakukan Analisis Data Penelitian dengan SPSS. Gava
Media, Yogyakarta, 2010
Syamsudin, Lukman. 2002. Manajemen Keuangan Perusahaan. PT. Raja Grafindo. Jakarta.
Warsono. 2002. Manajemen
Keuangan Perusahaan, Jilid I,
Edisi Kedua, Cetakan Pertama. Penerbit UMM Press, Malang.
_______. 2003. Manajemen Keuangan Perusahaan, Edisi Ketiga, Bayumedia, Malang.
Wijayaningrum, Etika, Analisis Pengaruh Flesibilitas Pengelolaan
Keuangan Terhadap Kinerja Keuangan Badan Layanan Umum Sebelum dan Sesudah
Penerapan PPK-BLU (Kasus pada RSUP Dr. Sardjito Yogyakarta), Fakultas
Ekonomika dan Bisnis UGM, Yogyakarta,
2011.
Widayat, Wahyu, Analisis
Perbedaan Kinerja Keuangan Sebelum dan Selama Krisis Moneter (Studi Kasus pada
perusahaan industry tekstil dan produk tekstil yang go-publik di PT. Bursa Efek
Jakarta), Fakultas Ekonomi UNDIP, Semarang, 2001.
Weston,
J.F dan E.F. Brigham. 1994. Dasar-dasar Manajemen Keuangan.
Terjemahan Al Fonsus Sirait, Jilid 1, Edisi Kesembilan, Cetakan Pertama,
Penerbit Erlangga, Jakarta.
______, J.F dan T.E. Copeland. 1997. Management Finance, Alih bahasa Jaka Wibisana dan Kirkbrandoko; Manajemen Keuangan, Jilid I dan II,
Edisi ke-9, Penerbit Bina Rupa Aksara, Jakarta.
www. pkblu.perbendaharaan.go.id
www.rsupsoeradjitirtonegoro.co.id
