Balanced Score Card in Healthcare Organization
Select a health care organization that has readily available data for the four categories from Kaplan and Norton’s 1996 model. Those categories are:
- Financial performance measures.
- Internal business processes.
- Learning and growth.
- Customer satisfaction.
You may wish to select your employer; however, please do not disclose proprietary data without prior written consent from your employer. You may wish to review the websites of large global organizations to research case study articles on best practices for organizations.
To complete this assessment, you will develop a PowerPoint presentation with 10–12 slides that describes how you would apply a balanced scorecard to your selected organization. Include the following in your PowerPoint presentation:
- A brief description of the organization you selected.
- Your balanced scorecard analysis of the organization, including how vision and strategy connect to the four balanced scorecard elements.
- Four recommendations for the organization.
- At least one APA-formatted in-text citation and accompanying, congruent APA-formatted reference.
- A two-minute introduction.
- The four elements of a balanced scorecard for the organization.
- Four area recommendations for the organization.
- A two-minute conclusion.
Include the notes or script of your audio recording. You may choose to include this in the form of the completed Notes section of the PowerPoint presentation slides, as a script you may have used when you created your recording, or in the form of a detailed outline. This will serve to clarify any insufficient or unclear audio.
Note: If your notes are not included in the PowerPoint presentation itself, attach them in a separate document along with the other presentation elements.
- Written communication: Written communication should be free from errors that detract from the overall message.
- APA formatting: Resources and citations should be formatted according to APA style and formatting guidelines.
- Number of resources: At least one APA-formatted in-text citation and accompanying, congruent APA-formatted reference.
- Length: The PowerPoint presentation should contain 10–12 slides.
- Duration of audio recording: Maximum of 10 minutes.
- Font and font size:
- Headline type should be 24–28 points.
- Bullet or body type should be 14–18 points for readability.
- Avoid decorative type; use Arial or Times.
Definition of the Balanced Scorecard
The Balanced Scorecard Institute: The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. The balanced scorecard performance measurement framework considers non-financial performance measures in addition to financial metrics to provide a more balanced view of organizational performance.
Using the Scorecard in the Health Care Industry Within the health care industry, the scorecard must reflect a framework that incorporates patient safety, regulatory compliance, and a variety of other operational factors (Gunduz & Simsek, 2007). The contemporary version of the balanced scorecard transforms the organizational strategic plan into a dynamic document that provides a snapshot of performance measurement across the organization. Recall from earlier units that performance measurement is a condition of participation for some government and privately sponsored reimbursement sources.
The Four Perspectives
The balanced scorecard indicates that organizations should be examined from four perspectives: learning and growth, business processes, customer satisfaction, and financial performance (Kaplan & Norton, 1992). Additionally, each perspective requires metrics for which data can be collected and analyzed (Balanced Scorecard Institute, n.d.). The analysis takes place within the context of the organizational strategic direction. When used to its full potential: The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. (Balanced Scorecard Institute, n.d.) Once the balanced scorecard is applied to an organization, it is important that managers effectively communicate results and take appropriate action. Applying the balanced scorecard results to key risk management areas is equally important when using the scorecard to minimize risk and develop a quality improvement strategy.