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Table 6 Correlation matrix

From: Performing well in financial management and quality of care: evidence from hospital process measures for treatment of cardiovascular disease

A. Entire sample (N = 13,273)
  Natural log of total assets Financial leverage Profit margin Asset turnover (sales to assets) Current ratio Days cash on hand Days patients accounts receivable Average age of plant Salary to total revenue Public hospital
Financial Leverage −0.13          
Profit Margin 0.21 −0.26         
Asset Turnover (Sales to Assets) −0.47 0.37 −0.10        
Current Ratio −0.02 −0.31 0.20 −0.18       
Days Cash On Hand 0.07 −0.23 0.14 −0.29 0.46      
Days Patients Accounts Receivable −0.13 0.01 −0.12 −0.15 0.09 0.05     
Average Age of Plant 0.05 −0.06 −0.02 −0.02 −0.02 0.03 0.12    
Salary to Revenue −0.27 −0.05 −0.38 0.04 −0.05 0.08 0.19 0.10   
Public Hospital −0.22 −0.17 −0.02 −0.10 0.17 0.22 0.17 0.02 0.27  
Not-for-profit Hospital 0.29 −0.15 −0.01 −0.12 −0.05 0.05 −0.16 0.12 0.07 −0.61
B. Sub-sample with non-missing values for Urban Hospital and Uncompensated Care Cost (N = 9,570)
  Natural log of total assets Financial leverage Profit margin Asset turnover (sales to assets) Current ratio Days cash on hand Days patients accounts receivable Average age of plant Salary to total revenue Uncompensated care cost to revenue Public hospital Not-for-profit hospital
Financial Leverage −0.18            
Profit Margin 0.21 −0.23           
Asset Turnover (Sales to Assets) −0.50 0.38 −0.07          
Current Ratio 0.01 −0.30 0.19 −0.16         
Days Cash On Hand 0.12 −0.22 0.11 −0.28 0.41        
Days Patients Accounts Receivable −0.09 −0.02 −0.10 −0.16 0.08 0.04       
Average Age of Plant 0.09 −0.08 0.01 −0.04 −0.02 0.04 0.10      
Salary to Revenue −0.17 −0.07 −0.39 0.00 −0.04 0.11 0.19 0.09     
Uncompensated Care Cost to Revenue −0.06 0.10 −0.18 0.13 −0.05 −0.02 0.14 0.03 0.36    
Public Hospital −0.15 −0.16 −0.04 −0.10 0.14 0.20 0.17 0.02 0.26 0.12   
Not-for-profit Hospital 0.31 −0.18 −0.01 −0.15 −0.01 0.11 −0.15 0.15 0.14 −0.07 −0.54  
Urban Hospital 0.46 0.09 0.01 0.05 −0.11 −0.07 −0.11 0.05 −0.12 −0.00 −0.23 0.13