HMGT 495 Strategic Planning and Leadership in Healthcare
Directions: Look at the Balanced Scorecard for Mercy Hospital. Use Memorandum format and direct it to your faculty. Please explain what data and information was needed to develop this report. Be specific and offer examples. Explain why some portions of the document are missing initiatives. Tell us how this scorecard is going to be used for Mercy Strategic Planning process. Make sure to use APA to cite relevant sources. INITIAL POST TO: Professor FROM: DATE: March 29, 2024 SUBJECT: Analysis of Balanced Scorecard for Mercy Hospital Dear Professor, I am writing to provide an analysis of the Balanced Scorecard developed for Mercy Hospital, focusing on the data and information required for its development, the absence of initiatives in certain sections, and its utilization in the strategic planning process. To create the balanced scorecard for Mercy Hospital, it was essential to gather some data and information, like financial data, which can be recalculated using the following ratios: percentage of alternative level of care patients, nursing purchased service worked hours, and absenteeism rate. Besides that, the patient satisfaction data, the employee engagement surveys, and the internal process metrics like medication reconciliation rates and surgical safety compliance performance were also crucial. This information was obtained from internal hospital charts, patient surveys, employee feedback systems, and industry benchmarks. In addition, community consultation measures, external stakeholder opinions, and physician engagement levels were considered. Such information was collected via stakeholder surveys, community forums, and direct sessions with physicians and leaders from the community. Data-gathering techniques were used to help determine Mercy Hospital’s financial performance, customer and staff satisfaction, process improvement, and learning and development areas. In some regions of the Balanced Scorecard, the need for specific initiatives can be explained by the nature of the strategic objectives and key performance indicators that do not imply specific objectives or actions. For instance, in the financial prospect, the emphasis is on proving the chargeability and efficacy to supply the mission with budgetary means. Measures like cost-cutting, revenue harvesting, and resource maximization will pull through, but they must be explicitly cited in the policy. On the other hand, from the stakeholder’s point of view, it is documented that overall patient satisfaction and employee engagement have been recognized as critical objectives; however, particular efforts to achieve those goals still need to be discovered. The Balanced Scorecard of Mercy Hospital will be applied in the organizational strategic planning process as an instrument for assessing and judging the performance of the strategic goals. It will be a helping tool for all hospital operations to apply the hospital’s strategic mission, vision, and priorities. Mercy Hospital can find the strength and the opportunity for improvement through measurement and analysis of the KPI and the TPI in terms of financial, stakeholder, internal process, and learning views (Mbwasi et al., 2023). Alongside this, the scorecard will allow for data-informed strategic decisions and help the hospital board efficiently channel resources to areas that are key to strategic objectives. Developing the Balanced Scorecard of Mercy Hospital involved input from several sources, including financial records, surveys of stakeholders, internal process metrics, and human resources necessities. In such cases, this scorecard will be the primary tool in Mercy Hospital’s strategic planning process. It will be a roadmap for assessing key performance indicators and their alignment with the strategic goals. Sincerely, name References Mbwasi, R., Reuben, W., Mfuko, W., & Madabida, Z. S. (2023). Health Commodities Supply Chain. In Primary Health Care in Tanzania through a Health Systems Lens: A History of the Struggle for Universal Health Coverage (pp. 104-123). GB: CABI. #1 REPLY TO MORGAN: Morgan Director Nursing, Mercy Medical Center March 29, 2024 MEMORANDUM To: Mercy Medical Center From: Morgan Subject: Insight into Mercy Strategic Planning Scorecard Report Date: March 29, 2024 I am writing to offer an analysis of the Mercy Strategic Planning Scorecard report. Balanced Scorecard (BSC) are divided into four perspectives: financial, customer, internal, and learning or growth perspective (Amer et al., 2022). To compile this report, we required various sets of data and information. The first step to completing this report was to define each perspective and its key outcomes. The first perspective is financial, with the objective of demonstrating accountability and efficiency. The second perspective is stakeholders with the objective of high overall patient satisfaction, and patient perception of quality index. The objective of the third perspective, internal, is to ensure that processes are patientcentered, prioritizing quality and patient safety. Finally, the learning or growth perspective aims to enhance a healthy work environment, ensure the completion of performance development plans , and establish leadership in learning and development initiatives. To ensure each goal is met, we needed to define measures of success for each objective. For instance, in the financial perspective, where the goal is to demonstrate accountability and efficiency, some key performance indicators (KPI) were the percentage of alternative level of care patients, percentage of nursing purchased service worked hours, and absenteeism rate. The KPI for the stakeholder’s goal of patient satisfaction is the overall rating of care. Last, we had to set a target for each measure. When examining internal processes to ensure they are patient-centered, focused on quality, and prioritize patient safety, the KPI was the percentage of medication reconciliation on admission. The target for this measure is set at 95%. This BSC provides valuable insights into how we can fulfill our mission of bringing health and healing to the community and our vision of becoming the best place for both employment and healthcare services. We have already started to implement initiatives based on the BSC. For example, to improve our internal processes we plan to revamp our infection-reporting process and create a report form review group. You may have noticed some initiatives are missing, this is due to ongoing development. The initiatives are still currently in the planning phases and will be seen on future scorecards. The Mercy Strategic Planning Scorecard is a crucial tool in our strategic planning process. It gives us a complete picture of how we’re performing and progressing toward our goals. It helps us make decisions based on data, keeps us on track with ongoing monitoring, and ensures everyone is accountable for their part in achieving our objectives. Feel free to reach out if you need further clarification or assistance. Thank you. Morgan Reference: Amer, F., Hammoud, S., Khatatbeh, H., Lohner, S., Boncz, I., & Endrei, D. (2022). The deployment of balanced scorecard in health care organizations: is it beneficial? A systematic revi ew. BMC Health Services Research, 22(1). https://doi.org/10.1186/s12913-021-07452-7 #2 REPLY TO CHRISTINE: This memo pertains to our balanced scorecard for this year. The balanced scorecard is a strategic management performance metric that we use to identify and improve various internal business functions and corresponding external outcomes. The following is information of feedback on various aspects of our hospital, namely finances, internal processes, learning, and stakeholders. Each aspect should attain a predetermined goal. Finances gathered this information; the health financial record in the patient’s database was required. Data on patients looking for alternative health care and a list of absentees in the human resource department were gathered. It’s worth noting that the hospital aims to demonstrate financial accountability and efficiency. We target having less than 15% of patients looking for alternative health care, 80% of nursing-purchased service hours worked, and a rate of absenteeism of less than 7%. The initiative must be included because hospital management may choose to have customized contract documents for healthcare workers whose teamwork can achieve or exc eed the set targets. The contract document might be private and confidential and only accessible to top management and the employee. Internal Processes serve patients better; they must provide quality services. The rate for medication reconciliation on admission needs to be 95%. Moreover, the rate of inpatient falls should be less than 5%. The metric for the surgical safety compliance checklist should be 98% completed. Hand hygiene policy should be rated 95% compliant, while publicly reported infection measures can be 5 per month. Data on the fall of the inpatient is extracted for roll call administered by the nurses. Information on hand hygiene can be gathered from reports from health officers who regularly inspect our health facility. Since the hospital is a learning organization, it should develop better systems to serve our patients. To enhance and maintain a healthy work environment, we target a vacancy rate of 3%. This data can be collected from the nurses’ daily roll calls. In our performance development plans, we target to attain an 80% completion rate at the end of the quarter. This data can be gathered from the report of the implementation committee of our strategic plan. Since conflicts might happen, our grievances should be resolved prior to arbitration. Stakeholders include patients, pharmaceutical firms, government, insurance companies, physicians, and employers. To the patients, we need to be rated with a 75% and above score. Also, target a 90% score from family physicians receiving discharge summaries. The above data can be collected by issuing questionnaires to patients and family physicians. Regarding community consultation measures, we aim to meet 8 out of 10 clients. To achieve the following performance measures, the management staff leadership must be proactive and use initiative approaches to handling healthcare workers. We shall also develop a charter for a community group. References PDF Case Study. https://learn.umgc.edu/content/enforced/371026-M_027327-012192/PDF%20Case%20Study.pdf?_&d2lSessionVal=S0iUJ9wE6hngy3rJtFAganQeg
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