Question

I have to fill out a business balance scorecard for my class. I am teaming up with a hospital to tackle on mental health.
can I get some ideas to put on the financial and customer perspective?

Answer 1

Congratulations on teaming up with a hospital to tackle on mental health! The Balanced Score Card is an excellent framework to monitor performance and map strategic objectives with outcomes.

Here are some suggested ideas for Customer and Financial perspective: Norton and Kaplan recommended for the balanced scorecard to be effective it must not exceed 4 to 5 indicators for each perspective amounting to not more than 20 to 25 indicators to be tracked closely.

Customer(patient, family, payer, employer) Perspective Performance Indicators:

• Measuring quality of service of In-patient and Out-patient Care
• Measuring appropriateness of care for patients
• Measuring accessibility of the care for patients
• Measuring availability of clinicians, psychiatrists, physicians, technicians
• Measuring capacity usage of the facility/Medical equipments
• Measuring patient and attendant wait-times, healthcare process cycle times
• Measuring layout planning and manoeuvrability to facilitate the patient/care-givers
• Measuring customer satisfaction
• Measuring customer retention
• Measuring market share
• Measuring new customer acquisition

Financial Perspective Performance Indicators:

• Measuring patients’ medical policy flexibility
• Measuring customer loyalty
• Measuring Profit and Loss
• Measuring reduction of administrative expenses and increasing return on medical assets
• Measuring Operating Income at any given point in time
• Measuring cash flow rom hospital operations
• Measuring hospital revenue growth

All the best!