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At least 253 records · Page 14Linked to original sources
PubMed2001

Creating a balanced scorecard for a hospital system.

In 1999, hospitals in Ontario, Canada, collaborated with a university-based research team to develop a report on the relative performance of individual hospitals in Canada's most populated province. The researchers used the balanced-scorecard framework advocated by Kaplan and Norton. Indicators of performance were developed in four areas: clinical utilization and outcomes, patient satisfaction, system integration and change, and financial performance and condition. The process of selecting, calculating, and validating meaningful indicators of financial performance and condition is outlined. Lessons learned along the way are provided. These lessons may prove valuable to other finance researchers and practitioners who are engaged in performance measurement endeavors.

Benchmarking↗
PubMed2001

No mission<-->no margin: it's that simple.

The authors describe their experience in developing a strategy-focused organization using the balanced scorecard methodology. They achieved this at Duke Children's Hospital by aligning the clinicians and administrators around a single integrated platform that linked improving business processes with achieving quality clinical outcomes. By organizing in this manner, they reduced cost by dollars 30 million and increased net margin by dollars 15 million while improving outcomes and staff satisfaction. This article describes a methodology to achieve strategic control of the organization, increase the knowledge of key stakeholders, and transform the organization to optimize the organization's performance.

Benchmarking↗
PubMed2001

Financial dashboard reporting for the hospital industry.

Most senior executives and board members experience information overload in their decision making roles. They simply receive an excessive amount of unrelated data that is not benchmarked to standards that enable them to make effective decisions. This is an unfortunate situation given the information technology and the availability of public data that exists today. Many firms in a variety of industry sectors have combined the concept of "balanced scorecards" with "dashboard" reporting to revamp their senior level executive reporting systems. A sample dashboard reporting system for a hospital is outlined in this paper.

Benchmarking↗
PubMed2004

10 ways to improve healthcare cost management.

As a healthcare CFO, you know that effective financial control has enormous impact on a hospital's bottom line. But how do you maintain that financial control? Well, a few simple improvements in cost management techniques-assigning accountability, adopting useful monitoring and reporting methods, and reducing resource consumption, among others--can reap significant benefits.

Accounting↗
PubMed2004

Pardon me: that's our money!

Not-for-profit healthcare providers have several options they can use to resist government attempts to apply the charitable trust doctrine to their business decisions. As a strategic defense, providers should perform internal due diligence that focuses on governing documents, financial arrangements, donations/solicitation, real estate, and charitable waste allegations.

Aged↗
PubMed2004

The association of debt financing with not-for-profit hospitals' operational and capital-investment efficiency.

Increased debt in companies can motivate both operational and capital-investment efficiency. This positive influence of debt is attributed to creditors' oversight of corporate behavior and the need to generate cash flows to service debt. Our study investigates whether debt has a similar relationship with efficiency in not-for-profit hospitals. Using statistical analysis of a database of audited financial statements of not-for-profit hospitals, we test whether debt is associated with six distinct measures of operational and capital-investment efficiency. We find that debt either has no association with efficiency or predicts decreased efficiency. Possible explanations are that creditors' oversight is less tight in the not-for-profit setting and that debt may at times motivate excessive capital investment because of a legal requirement to tie tax-exempt debt with a capital-investment project.

Capital Expenditures↗
PubMed2004

The association of debt financing with not-for-profit hospitals' provision of uncompensated care.

Not-for-profit hospitals undertook unprecedented amounts of debt in the mid to late 1990s. Corporate finance theory and the literature on hospital financing suggest that debt may constrain hospitals' capacity to deliver uncompensated care. Using data from audited financial statements for a sample of hospitals, this article explores whether debt financing is associated with hospitals' provision of uncompensated care, an output central to many hospitals' service missions. Contrary to expectations, our analysis finds that higher debt is associated with higher levels of uncompensated care. However, the results may reflect the unusual economic and stock-market conditions prevailing in the mid 1990s, and they are consistent with the views of hospital financial managers and other practitioners whom we interviewed.

Empirical Research↗