MHA-FP5014 Assessment 4 Context

MHA-FP5014 Assessment 4 Context

Definition of the Balanced Scorecard The Balanced Scorecard Institute:

The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.

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The balanced scorecard performance measurement framework considers non-financial performance measures in addition to financial metrics to provide a more balanced view of organizational performance.

Using the Scorecard in the Health Care Industry Within the health care industry, the scorecard must reflect a framework that incorporates patient safety, regulatory compliance, and a variety of other operational factors (Gunduz & Simsek, 2007). The contemporary version of the balanced scorecard transforms the organizational strategic plan into a dynamic document that provides a snapshot of performance measurement across the organization. Recall from earlier units that performance measurement is a condition of participation for some government and privately sponsored reimbursement sources.

The Four Perspectives The balanced scorecard indicates that organizations should be examined from four perspectives: learning and growth, business processes, customer satisfaction, and financial performance (Kaplan & Norton, 1992). Additionally, each perspective requires metrics for which data can be collected and analyzed (Balanced Scorecard Institute, n.d.). The analysis takes place within the context of the organizational strategic direction. When used to its full potential:

The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. (Balanced Scorecard Institute, n.d.)

Once the balanced scorecard is applied to an organization, it is important that managers effectively communicate results and take appropriate action. Applying the balanced scorecard results to key risk management areas is equally important when using the scorecard to minimize risk and develop a quality improvement strategy.

References Balanced Scorecard Institute. (n.d.). Balanced scorecard basics. Retrieved from

Assessment 4 Context

• Definition of the Balanced Scorecard
  • Using the Scorecard in the Health Care Industry
  • The Four Perspectives

Overview Assessment 4-6.docx

· Overview

Create a 5–10 minute recorded presentation, detailing the results of the balanced scorecard analysis and making recommendations for quality improvement and risk reduction. Your presentation material should be 10–12 slides in length.

Note: The assessments in this course build upon each other, so you are strongly encouraged to complete them in a sequence.

Applying the balanced scorecard to a health care organization can help managers uncover potential risks. It will also help them to fully analyze the organization from multiple perspectives.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

· Competency 2: Apply a risk-management model or framework to a specific risk-management priority.

· Present recommendations on each facet of the balanced scorecard model.

· Competency 3: Analyze the process and outcomes of a care quality- or risk-management issue.

· Use balanced scorecard concepts to analyze key performance indicators and measures associated with a specific risk-management issue.

· Competency 5: Communicate in a manner that is scholarly, professional, and consistent with expectations for professionals in health care administration.

· Create a persuasive presentation tailored to a specific audience.

· Communicate clearly in a limited time frame.

Context

Developing awareness and skills in constructing and interpreting balanced scorecards can increase your value as an employee. There are related resources in this course that needs to be saved and updated for future use in the workplace. Read further in the Assessment 4 Context [PDF] Attached document, which contains important information about the following topics related to the balanced scorecard:

· Definition of the Balanced Scorecard.

· Using the Scorecard in the Health Care Industry.

· The Four Perspectives.

Questions to Consider

As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as a part of your assessment.

· What is the overall purpose of using a scorecard?

· How are scorecards typically used in business?

· What positive potential do scorecards add to organizations?

· How would you frame a balanced scorecard for use in health care?

· What are the four key elements of a balanced scorecard?

· What does the term balanced scorecard mean?

· What types of limitations do scorecards have?

· How does Six Sigma differ from a balanced scorecard?

Resources

Required Resources

Balanced Scorecard

· Kaplan, R. S., & Norton, D. P. (1996). Linking the balanced scorecard to strategy. California Management Review, 39(1), 53–79.

Suggested Resources

Hardware MHA-FP5014 Assessment 4 Context

· A headset with headphones and a built-in microphone, or some other hardware with audio capability.

If you do not already have the audio capability with your computer system, a headset is recommended as an inexpensive option. Headsets are available for purchase at the Capella University Bookstore. Please set up and test your headset to verify the compatibility of the hardware as soon as possible. Refer to the manufacturer’s directions for installing and connecting the device to your computer.

Balanced Scorecard

Note: In this assessment, you will be required to create an audio recording to accompany a PowerPoint presentation. You may use Kaltura or, with instructor approval, you may use an alternative technology to record and deliver your presentation.

In preparation for recording your presentation, complete the following:

· If you have not already done so, set up and test your headset or built-in microphone, using the installation instructions provided by the manufacturer. MHA-FP5014 Assessment 4 Context

· Practice recording to ensure the audio quality is sufficient.

· Refer to the Using Kaltura [PDF] tutorial for directions on recording and uploading your presentation in the courseroom.

Note: If you require the use of assistive technology or alternative communication methods to participate in this activity, please contact   to request accommodations.

Additional Resources for Further Exploration

You may use the following optional resources to further explore topics related to competencies.

· Youngberg, B. J. (2011). Principles of risk management and patient safety. Sudbury, MA: Jones and Bartlett. Available from the bookstore .

· Chapter 4, “Risk Management Strategic Planning,” pages 38–41.

Balanced Scorecards

MHA-FP5014 Assessment 4 Context

This article discusses how managers work with the balanced scorecard.

· Assessment Instructions MHA-FP5014 Assessment 4 Context

Preparation

Select a health care organization that has readily available data for the four categories from Kaplan and Norton’s 1996 model. Those categories are:

· Financial performance measures.

· Internal business processes.

· Learning and growth.

· Customer satisfaction.

You may wish to select your employer; however, please do not disclose proprietary data without prior written consent from your employer. You may wish to review the websites of large global organizations to research case study articles on best practices for organizations.

Instructions

PowerPoint Slides

To complete this assessment, you will develop a PowerPoint presentation with 10–12 slides that describes how you would apply a balanced scorecard to your selected organization. Include the following in your PowerPoint presentation:

· A brief description of the organization you selected.

· Your balanced scorecard analysis of the organization, including how vision and strategy connect to the four balanced scorecard elements. MHA-FP5014 Assessment 4 Context

· Four recommendations for the organization.

· At least one APA-formatted in-text citation and accompanying, congruent APA-formatted reference.

Audio Recording

Use Kaltura, or another instructor-approved alternative technology, to record yourself presenting your balanced scorecard PowerPoint slides. Before you begin recording, you may find it beneficial to write a script or detailed outline that you can refer to as you record.

Your recorded presentation should be no more than 10 minutes in length and should include the following:

· A two-minute introduction.

· The four elements of a balanced scorecard for the organization.

· Four area recommendations for the organization. MHA-FP5014 Assessment 4 Context

· A two-minute conclusion.

Include the notes or script of your audio recording. You may choose to include this in the form of the completed Notes section of the PowerPoint presentation slides, as a script you may have used when you created your recording, or in the form of a detailed outline. This will serve to clarify any insufficient or unclear audio.

Note: If your notes are not included in the PowerPoint presentation itself, attach them in a separate document along with the other presentation elements. MHA-FP5014 Assessment 4 Context

Additional Requirements

· Written communication: Written communication should be free from errors that detract from the overall message.

· APA formatting: Resources and citations should be formatted according to APA style and formatting guidelines.

· Number of resources: At least one APA-formatted in-text citation and accompanying, congruent APA-formatted reference.

· Length: The PowerPoint presentation should contain 10–12 slides.

· Duration of audio recording: Maximum of 10 minutes.

· Font and font size: Arial, 18-point font or above for headings and explanatory text, and 24-point and above for slide titles.

Note: If you require the use of assistive technology or alternative communication methods to participate in this activity, please contact DisabilityServices@Capella.edu to request accommodations.