REALITY OF FINANCIAL RISK MANAGEMENT IN PALESTINIAN HOSPITALS, CASE OF “ALMAKASSED ISLAMIC CHARITABLE SOCIETY HOSPITAL”

Abstract

This study aimed to assess the reality of financial risk management in Palestinian hospitals, case of Al-Makassed Islamic Charitable Hospital in Jerusalem. Cross-Sectional Descriptive Analytic designs were used in this study at the Al-Makassed Islamic Charitable Hospital in Jerusalem. All employees in the administrative and financial department equal 32 and 60 patients, equally divided for open and closed units at Al-Makassed Islamic Charitable Hospital. Total mean for employee’s agreement toward finance equals 3.18 (Std. Dev. =1.04) who considered moderate agreement. Total mean for employees’ agreement toward Profitability equals 2.56 (Std. Dev. =1.19) who considered moderate agreement. Total mean for employees’ agreement toward Effects of Financial Risk equal 4.37 (Std. Dev. = 0.2) who considered High agreement. Total mean for patients’ agreement toward the financial part of Economic factors when deciding to treat in Al-Makassed hospital equal 3.45 (Std. Dev. =1.26) who considered high agreement. Total mean for patients’ agreement toward the Suitability of Prices in Al-Makassed hospital equals 3.40 (Std. Dev. =1.12) who considered high agreement. According to the results, there was a strong positive relationship between financial risk management and a hospital’s ability to maintain the quality and safety of patients care. For hospital employees there is a moderate agreement with the financial dimension and profitability dimension, however, there is a high agreement with the effects of financial risk, for patients’ high agreement with the importance of economic factors when deciding to treat in a hospital, based on the suitability of prices.