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Implementation of the balanced scorecard at Barberton citizens hospital
Author(s) -
Josey Chuck,
Kim Ilwoon
Publication year - 2008
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.20386
Subject(s) - balanced scorecard , revenue , business , competition (biology) , profit (economics) , health care , strategic management , operations management , strategy map , not for profit , accounting , process management , marketing , economics , economic growth , ecology , biology , microeconomics
Increasing competition in the health care industry has caused many hospitals to use innovative management tools to improve performance and maintain competitive advantages. At Barberton Citizens Hospital, a balanced scorecard was implemented recently when senior management redefined the hospital's mission and corporate values. The results were impressive. Operational measures improved during the first year of the implementation, and they led to a significant increase in revenues and profit. © 2008 Wiley Periodicals, Inc.