EFFECT OF MANAGEMENT REPORTING CONTROLS ON FINANCIAL PERFORMANCE OF PRIVATE HOSPITALS IN MOMBASA COUNTY,KENYA

Harun Bwanamkuu Feirouz, Eric Mathuva, Paul Mwenda

Abstract


Robust management reporting controls can greatly improve financial performance, operational efficiency, and decision-making in private hospitals, ensuring they stay competitive in the healthcare sector. Despite the crucial role of these controls in enhancing financial outcomes, many private hospitals are yet to fully optimize their reporting systems, missing out on potential benefits in transparency and compliance. This paper sought to examine the effect of management reporting controls on the financial performance of private hospitals in Mombasa County. The study applied a descriptive research design. The study gathered data through questionnaires which were administered both physically and electronically. Data collected was analyzed through both descriptive and inferential analysis. Results revealed a ? of 0.253 and a p-value of 0.012, between management reporting controls and financial performance of private hospitals in Mombasa County. The study concluded that management reporting controls had a positive and significant effect on the financial performance of private hospitals in Mombasa County. The study recommends that private hospitals in Mombasa County should continue to prioritize and invest in the accuracy and reliability of their management reports. The study also recommends that private hospitals in Mombasa County should maintain the standard of delivering reports on time which is crucial for effective decision-making. Moreover, the study recommends that private hospitals in Mombasa County should ensure consistency by standardizing reporting formats and methodologies across different periods. Lastly, the study recommends that private hospitals in Mombasa County should strengthen adherence to regulatory requirements and internal policies, ultimately, enhancing financial performance and overall organizational resilience.

Key Words: Management Reporting Controls, Financial Performance, Private Hospitals, Mombasa County


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References


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