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Level Best : Balanced Scorecard Design & Implementation in a Long-term Care Environment

Level Best : Balanced Scorecard Design & Implementation in a Long-term Care Environment. Joseph D. Beavers University of Kentucky Martin School of Public Policy & Administration Masters in Health Administration Capstone Project Spring 2008. FINANCIAL. CUSTOMERS. INNOVATION. INTERNAL.

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Level Best : Balanced Scorecard Design & Implementation in a Long-term Care Environment

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  1. Level Best:Balanced Scorecard Design & Implementation in a Long-term Care Environment Joseph D. Beavers University of Kentucky Martin School of Public Policy & Administration Masters in Health Administration Capstone Project Spring 2008

  2. FINANCIAL CUSTOMERS INNOVATION INTERNAL Overview • Christian Care Communities • The Balanced Scorecard (BSC) • BSC Principles • Evaluate Key Metrics • Examine Process to Date

  3. FINANCIAL CUSTOMERS INNOVATION INTERNAL Christian Care Communities • Kentucky’s largest faith-based, non-profit provider of affordable housing & long-term care services for older adults • Service areas include: • Skilled Nursing Care • Independent Living • Assisted Living

  4. FINANCIAL CUSTOMERS INNOVATION INTERNAL Managerial Question • Aid the executive leadership of Christian Care Communities: • Design & Implementation • Evaluation • Performance measurement system based on Balanced Scorecard principles for its long-term care operations

  5. FINANCIAL CUSTOMERS INNOVATION INTERNAL What is a Balanced Scorecard (BSC)? • Originally designed as a tool to aid with organizational planning & strategy • Move beyond traditional financial analysis & draw on broader perspectives: • Customer • Employee • Process • Performance measurement tool

  6. FINANCIAL CUSTOMERS INNOVATION INTERNAL Basic ‘Pillar’ Principles • Financial • How do we appear to our stakeholders? • Customers • How do we appear to our residents? • Internal • At what process(es) should we excel? • Innovation • What should we learn to grow/prosper?

  7. FINANCIAL CUSTOMERS INNOVATION INTERNAL Balance What? • Short-term & Long-term goals/objectives • External & Internal focus • Leading & Lagging indicators • Objective & Subjective measures

  8. FINANCIAL CUSTOMERS INNOVATION INTERNAL Basic Scorecard Development Process hfm

  9. FINANCIAL CUSTOMERS INNOVATION INTERNAL Methods Overview • Survey Results • Employees • Families & Residents • Interviews • Executive Leadership • Outside Consultant(s) • Key Performance Indicators • Statistical & Non-statistical • Historical & Projected

  10. FINANCIAL CUSTOMERS INNOVATION INTERNAL Results: Strategic Objectives • Ministry Makes a Difference • Invest in Our People • Exceed Expectations of Older Adults & Their Families • Innovate & Grow • Exercise Responsible Stewardship

  11. FINANCIAL CUSTOMERS INNOVATION INTERNAL Ministry Makes a Difference Level Best? Q3 ‘07 Q4 ‘07 Q1 ‘08 Q3 ‘07 Q4 ‘07 Q1 ‘08 Q3 ‘07 Q4 ‘07 Q1 ‘08

  12. FINANCIAL CUSTOMERS INNOVATION INTERNAL Invest in Our People Level Best?

  13. FINANCIAL CUSTOMERS INNOVATION INTERNAL Exceed Expecations of Older Adults & Families Level Best?

  14. FINANCIAL CUSTOMERS INNOVATION INTERNAL Innovate & Grow Level Best? • Expanded Service Offerings • Bowling Green Campus Expansion • Introduce The Green House Concept to Kentucky • Partnership with local college & community

  15. FINANCIAL CUSTOMERS INNOVATION INTERNAL Exercise Responsible Stewardship Level Best?

  16. FINANCIAL CUSTOMERS INNOVATION INTERNAL Conclusions: Success? • Short Term • Mission & Vision has been redefined • Extensive & specific set of goals & action plans have been established • Measurement of Key Performance Indicators • Long Term • Must utilize data gathered & react • Reevaluate & refocus regularly

  17. FINANCIAL CUSTOMERS INNOVATION INTERNAL Recommendations • Develop specific work groups to analyze survey results that incorporate: • Staff • Executive Leadership • Residents/Families • Develop single tool to provide a high level snapshot of organizational progress • Focused on 5 Strategic Objectives • Geared for leadership at each level

  18. FINANCIAL CUSTOMERS INNOVATION INTERNAL Recommendations Ministry Makes a Difference Responsible Stewardship Invest In Our People Innovate & Grow Exceed Expectations of Residents/Families

  19. FINANCIAL BALANCED SCORECARD CUSTOMERS INNOVATION INTERNAL Questions

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