Review the 4 perspectives of a Balanced Scorecard described in this week’s readings (attached) and visually depicted in The Balanced Scorecard by Robert Kaplan.
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Construct a Balanced Scorecard (attached), using the Balanced Scorecard Template, for the health care organization you identified in Week 1. For each of the 4 perspectives, define at least 3 objectives, measures, targets, and initiatives. Ensure that the objectives are clearly aligned to the organization’s mission and vision described in the Week 1 assignment (Oregon Health & Science University [OSHU] Hospital System).
Balanced Scorecard for: Oregon Health & Science University (OSHU) Hospital System
Mission: As part of its multifaceted public mission, OHSU strives for excellence in education, research and scholarship, clinical practice and community service. Through its dynamic interdisciplinary environment, OHSU stimulates the spirit of inquiry, initiative and cooperation among students, faculty and staff
Vision: To partner to make Oregon a national leader in health and science innovation for the purpose of improving the health and well-being of Oregonians and beyond.
|Stakeholders: How does OHSU wish to appear to its stakeholders?||Overall patient satisfactionA high-quality perception | GET AN EXPERT FOR YOUR ASSIGNMENT | among the student, faculty and staff populationTo be regarded as a premier institution in evidence-based practice (Cacciatore et al., 2019)||Overall rating of care given to patients | GET AN EXPERT FOR YOUR ASSIGNMENT | employees of the facilityProperly documented discharge summaries||To attain at least 80% approvals | GET AN EXPERT FOR YOUR ASSIGNMENT | the stakeholdersMore than 75% of staff to appreciate the use of evidence-based practice||Establish competency-based programs | GET AN EXPERT FOR YOUR ASSIGNMENT | healthcare decisionsReview healthcare decisions and policies from time to time|
|Internal Processes: Which internal process | GET AN EXPERT FOR YOUR ASSIGNMENT | the hospital improve on to fully meet the expectations of the patients and other stakeholders?||Healthcare facility processes should be focused on the quality, patient safety and patient-centered care.||Falls in the rate of inpatientsImproved competency of students and | GET AN EXPERT FOR YOUR ASSIGNMENT | iance with all health-related standards and protocols including ethical | GET AN EXPERT FOR YOUR ASSIGNMENT | (Al-Kaabi, Chehab & Selim, 2019)||95% reduction in patient readmissions High quality | GET AN EXPERT FOR YOUR ASSIGNMENT | every yearHigher enrollment of scholarship awardees (improved by 25% every year)95% compliant to standards of healthcare practice||Seeking for more applicants for scholarships.Reviewing | GET AN EXPERT FOR YOUR ASSIGNMENT | reporting processes for better efficiency and accountability|
|Learning: How can OHSU empower the students to be more competent and knowledgeable in handling healthcare | GET AN EXPERT FOR YOUR ASSIGNMENT | (Kaplan & Norton, 2001).||Establishing and maintaining a heathy work environment. Create student-faculty interactive sessionsImprove student’s competency levels||Performance development plans completedComplaints received and amicably resolved through a faculty/ nurse-student engagementStudents to evaluate | GET AN EXPERT FOR YOUR ASSIGNMENT | / care giver’s exit surveys||100% cases resolved once they are reportedImproved student competency levels100% student | GET AN EXPERT FOR YOUR ASSIGNMENT | in competency-based provision of care||Have sensitization programs Create a culture of inquiryEstablish community service initiatives Utilize the dynamic interdisciplinary environment|
|Financial: To sustain the hospital’s mission of providing scholarships and improving research, what should the focus be?||Demonstrate accountability and efficiency in providing scholarship positionsShow transparency in any financial engagements in the hospitalEngage in | GET AN EXPERT FOR YOUR ASSIGNMENT | scientific innovations that can be patented for the financial gains of the hospital;||More scientific publications At least two grants per year by the faculty and students100% transparency from the internal and external audit reports||100% acceptability in all financial transactionTransparent financial transactions with 100% approvals from all stakeho | GET AN EXPERT FOR YOUR ASSIGNMENT | ed scholarship awards yearlyNo financial losses||100% implementation50% per employee|
Al-Kaabi, S. K., Chehab, M. A., & Selim, N. (2019). The balanced scorecard as a performance management tool in the healthcare sector–The case of the medical commission department at the ministry of public health, Qatar. Cureus, 11(7).
Cacciatore, P., Kannengiesser, P., Carini, E., Di Pilla, A., Pezzullo, A. M., Hoxhaj, I., … & Specchia, M. L. (2019). Balanced Scorecard for performance assessment in healthcare settings: A review of literature. European Journal of Public Health, 29(Supplement_4), ckz186-396.
Kaplan, R. S., & Norton, D. P. (2001).The strategy-focused organization: How balanced scorecard companies thrive in the new business environment.Harvard Business School Press.
Leksono, E. B., Suparno, S., & Vanany, I. (2019). Integration of a Balanced Scorecard, DEMATEL, and ANP for measuring the performance of a sustainable healthcare supply chain. Sustainability, 11(13), 3626.