Balanced Scorecard Method In Healthcare: A Case Study

Healthcare with the Balanced Scorecard Method Strategic planning is defined as, “a decision making activity that identifies where an organization is going, sets its direction, and focuses its future efforts” (Olden, 2014, p.36). Planning is important to any healthcare system, because without planning and preparation your system may become unorganized. A case where a type of strategic planning is efficient in health care systems could be the balanced scoreboard method (BSC). The balanced scoreboard method can be defined as a customized performance measurement system that goes beyond conventional accounting and is based on organizational strategy (Voelker, Rakich, and French, 2001). Voelker et al. (2001) plan is to convert an organization’s vision and strategy into a comprehensive set of linked performance and actions that provide successful strategic management. They plan execute this by finding a balance between financial, operating and other measures and provide performance indicators linking strategy to specific actions (Voelker et al). The balanced scoreboard can be measured across 4 perspectives for organizational performance; financial, customer, internal, and growth perspective. The …show more content…
We must also focus on our work environment, our service, and the care we provide.” (Duke Children’s Hospital) Duke Children’s Hospital uses four perspectives of the balanced scoreboard method, clinical quality and internal business, customer service, financial services, and work culture. Clinical quality and internal business focuses on how they go about doing their work, customer service focuses on how we exceed the needs and expectation of internal and external customers, financial success is focused on we to generate sufficient resources to reinvest in people, technology, and other things, work culture focuses on employee