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ADOPTION OF THE BALANCED SCORECARD AT MONTEFIORE

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ADOPTION OF THE BALANCED SCORECARD AT MONTEFIORE Powered By Docstoc
					   ADOPTION OF THE
 BALANCED SCORECARD
AT MONTEFIORE MEDICAL
       CENTER

           BY

      YEMISI AJUMOBI
            INTRODUCTION
   Montefiore Medical Center: University
    Hospital & Academic center for The Albert
    Einstein College of Medicine
   > 70,000 Admissions/ year
   Located in New York City: 2 Major
    campuses, 29 outpatient centers,
    healthcare agency and community offices
   Annual Revenue: U.S. $2.2 billion
   App no of employees: 13,000
     Pre-BSC Strategic Planning
             Process
   Downsizing
   GRIP Approach:
   G- Grow volume & Market share
   R- Rebalance Academic & Clinical Staff
   I- Infrastructure upgrade facilities, Info
    systems & technology
   P- Performance, setting targets and
    achieving them
    Reason for the BSC approach
   Manage Employee
    Performance                                     Supplier Power, eg:
                                                    Top 1% of healthcare
                                                     organizations in the U.S.
   Existing measurement                      Major supplier of healthcare in NY
                                                 Highly Customer-oriented

    & Management system                 Product and Technology Development, eg:
                                         Need to Invest in state of the art technology

    reported only on costs                      market distribution changes
                                                       Buyer Power, eg:
                                     Choice of going with multinational health centers
    and financial results             High buyer power based on referring physician
                                           Credibility of well known medical center
                                   Specialized services to particular population of patients
   Measurement of                               New Market Entrants, eg:
                                          major focus is on the new york market
                                                  incumbents resistance
    patient satisfaction and      expansion to provide nation-wide coverage of healthcare

                                                  Competitive Rivalry, eg:
    the cost, quality and       number and size of renown multinational healthcare centers
                               better performing employing in other multinational health centers

    cycle times of clinical             Cost of down-sizing affecting services to patient


    processes
                  SWOT ANALYSIS
STRENGTHS                                 WEAKNESSES
•   Top 1% of leading healthcare          • High bureaucracy
    provider                              • Creation of causal ambiguity in the
•   Strong customer-focused                 way task is run
•   Located in a big city                 • More focus on financial gains
•   Competitive advantage in its          • Catered to the needs of particular
    specialiation                           population
                                          • Lack of accountability
OPPORTUNITIES
• Need for affordable healthcare in the   THREATS
  nation                                  • Multinational health centers
• Rise in cancer and heart diseases       • Non-expansion to other areas with
  affecting the population                  influx of patients
• Investment in state of the heart        • No clear path for the implementation
  equipments (R&D)                          of a much needed strategy in place in
•   Performance management                  similar orgs
         RESULTS & LESSONS
•   Identification of best and
    least performing
                                                                   Customer (Looking
    employees                                                      From the outside in)
                                                               - satisfaction scores
                                                               - point of service
•   Reward and improve on                                      surveys/compliments
                                                               - Time to first appointments

    performance                    Innovation and Growth
                                       (Looking ahead)         Operations (Looking from
                                  -Market Share                       The inside out)

•
                                                                                                   Financial (Looking Back)
    Addressed the issue of        -Associate surveys
                                  -Equipment actual age/
                                  Useful life
                                                               - length of stay
                                                               - Appropriate bed usage
                                                               -Actual/planned utilization
                                                                                                   -Revenues/unit of service
                                                                                                   -Cost/unit of service
                                                                                                   -Unit of service
    Causal Ambiguity              -% of Revenues/New
                                  Programs
                                                               -Readmit Rate
                                                               -Denial Rate (Admits and
                                  -Referring MD                Days)

•   Creation of a value map       -Patients per referring MD   -Percentage of Patients on
                                                               Care plan
                                                               - Patient Satisfaction              Did we meet our target?
    to determine factors that     Do we have momentum?
                                                               -Service times
                                                               -Aggregate Patient
                                                               Outcome
    link to financial gain
•
                                                                              Are we in control?
    Mere financial approach
    to a strategy will not work
    at Montefiore
    HR CAPITAL INVESTMENT
   High amount of HR investment in BSC
   Key aspect: Performance evaluation
   Creation of a value map by management
          MAJOR SIGNIFICANT
         STRATEGIC CHANGES
   Decentralization: 5 Clinical centers (each
    focusing on the need of a particular patient
    population) and 3 support centers
   Multidisciplinary Employee Mix
   Volume & Market Share: Increased
    penetration in the Bronx and attraction of
    customers from neighboring counties
   Successful recruitment effort for physicians
    and staff with great enthusiasm

				
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posted:11/2/2011
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