East Alabama Medical Center uses nonfinancial performance measures to track the following objectives: • Maintain and improve the quality of clinical services. • Improve patient service. • Enhance employee recruitment and retention. (a) Link each of these objectives to one of the four balanced scorecard perspectives. Objective Perspective Maintain and improve the quality of clinical services FinancialLearning & growthInternal business processesCustomer Improve patient service Learning & growthInternal business processesFinancialCustomer Enhance employee recruitment and retention Learning & growthCustomerInternal business processesFinancial (b) Identify where on a balanced scorecard you would most likely find the following metrics: Metric Perspective • Patient satisfaction score Internal business processesFinancialCustomerLearning & growth • Number of medication errors Internal business processesLearning & growthFinancialCustomer • Nursing turnover rate Internal business processesLearning & growthFinancialCustomer • Readmission rate Learning & growthInternal business processesFinancialCustomer • Number of new hires CustomerInternal business processesLearning & growthFinancial • Emergency room wait time before treatment CustomerFinancialInternal business processesLearning & growth • Nurse-to-patient ratio Learning & growthFinancialCustomerInternal business processes • Likelihood of patient recommending the hospital FinancialLearning & growthInternal business processesCustomer • Number of patient complaints Learning & growthCustomerInternal business processesFinancial • Employee satisfaction with incentive systems FinancialLearning & growthCustomerInternal business processes Click if you would like to Show Work for this question: Open Show Work
East Alabama Medical Center uses nonfinancial performance measures to track the following objectives: • Maintain and improve the quality of clinical services. • Improve patient service. • Enhance employee recruitment and retention. (a) Link each of these objectives to one of the four balanced scorecard perspectives. Objective Perspective Maintain and improve the quality of clinical services FinancialLearning & growthInternal business processesCustomer Improve patient service Learning & growthInternal business processesFinancialCustomer Enhance employee recruitment and retention Learning & growthCustomerInternal business processesFinancial (b) Identify where on a balanced scorecard you would most likely find the following metrics: Metric Perspective • Patient satisfaction score Internal business processesFinancialCustomerLearning & growth • Number of medication errors Internal business processesLearning & growthFinancialCustomer • Nursing turnover rate Internal business processesLearning & growthFinancialCustomer • Readmission rate Learning & growthInternal business processesFinancialCustomer • Number of new hires CustomerInternal business processesLearning & growthFinancial • Emergency room wait time before treatment CustomerFinancialInternal business processesLearning & growth • Nurse-to-patient ratio Learning & growthFinancialCustomerInternal business processes • Likelihood of patient recommending the hospital FinancialLearning & growthInternal business processesCustomer • Number of patient complaints Learning & growthCustomerInternal business processesFinancial • Employee satisfaction with incentive systems FinancialLearning & growthCustomerInternal business processes Click if you would like to Show Work for this question: Open Show Work
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
East Alabama Medical Center uses nonfinancial performance measures to track the following objectives:
(a) Link each of these objectives to one of the four balanced scorecard perspectives.
(b) Identify where on a balanced scorecard you would most likely find the following metrics:
• | Maintain and improve the quality of clinical services. |
• | Improve patient service. |
• | Enhance employee recruitment and retention. |
(a) Link each of these objectives to one of the four balanced scorecard perspectives.
Objective | Perspective | |
Maintain and improve the quality of clinical services |
FinancialLearning & growthInternal business processesCustomer
|
|
Improve patient service |
Learning & growthInternal business processesFinancialCustomer
|
|
Enhance employee recruitment and retention |
Learning & growthCustomerInternal business processesFinancial
|
(b) Identify where on a balanced scorecard you would most likely find the following metrics:
Metric | Perspective | |
• Patient satisfaction score |
Internal business processesFinancialCustomerLearning & growth
|
|
• Number of medication errors |
Internal business processesLearning & growthFinancialCustomer
|
|
• Nursing turnover rate |
Internal business processesLearning & growthFinancialCustomer
|
|
• Readmission rate |
Learning & growthInternal business processesFinancialCustomer
|
|
• Number of new hires |
CustomerInternal business processesLearning & growthFinancial
|
|
• Emergency room wait time before treatment |
CustomerFinancialInternal business processesLearning & growth
|
|
• Nurse-to-patient ratio |
Learning & growthFinancialCustomerInternal business processes
|
|
• Likelihood of patient recommending the hospital |
FinancialLearning & growthInternal business processesCustomer
|
|
• Number of patient complaints |
Learning & growthCustomerInternal business processesFinancial
|
|
• Employee satisfaction with incentive systems |
FinancialLearning & growthCustomerInternal business processes
|
Click if you would like to Show Work for this question: |
Open Show Work
|
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