Healthcare organizations today are being thrust into the information age, facing a shifting landscape of their business models, encountering increasingly fierce competition, and battling shrinking margins.
The ability to successfully execute a defined strategy has never been more paramount to a hospital’s ongoing ability to deliver on its mission.
E&A published a white paper to highlight how the Balanced Scorecard can be used by healthcare providers to translate strategy into action. The Balanced Scorecard is a strategic management framework originally developed through research conducted at Harvard Business School and increasingly utilized as a strategic management framework across various industries, including many healthcare providers.
The Balanced Scorecard asks you to consider your company’s mission and strategy from four key perspectives:
1. How do customers see us?
2. What internal processes must we excel at?
3. How can we continue to improve and create value?
4. How do we appear to investors?
Hospitals are using the balanced scorecard in a number of ways. Here is an example:
View our publication for more information and insight.