Accounting Reforms and Economic Performance Evaluation: An Effectiveness and Efficiency Comparative Analysis of the Greek Health System

In this study, an economic assessment of pediatric hospitals in Attica, Greece, is conducted focusing on their financial challenges during the Greek economic crisis and the COVID-19 pandemic. The selection of the hospitals is based on the age group of their patients and the unique financial difficulties they encountered. Additionally, a comparative analysis is undertaken, comparing the performance of these Greek pediatric hospitals with a counterpart in the UK. The objectives of the present study are to discern similarities and differences between the Greek and British health systems and determine the strategic steps for the effective and optimum treatment of the pediatric patients with a simultaneous financial control. The research findings (based on the calculation of financial indicators) underscore the necessity for pediatric hospitals to align their financial accounting practices with a focus on expediting the collection of claims within a shorter time frame. A notable observation is that the UK pediatric hospital is more efficient to promptly collect claims from patients, social security, and private insurance funds. As a conclusion, it is depicted and proven that significant accounting reforms are imperative to curb the costs of hospitalization and expenditures related to pharmaceuticals and other medical materials.