Strong medicine for failing hospitals: A balanced scorecard approach

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eISSN: 1848-137X / ISSN: None

Journal of Cost Management

Volume 18, Issue 1 : 24-30

Review Article

Strong medicine for failing hospitals: A balanced scorecard approach

Kevin Nathan

Sandra Pelfrey

Department of Accounting, Oakland University, Rochester, MI, United States

Abstract

The utility of a balanced scorecard approach, which helps medical care units to improve their quality even in the presence of cost-cutting measures, is discussed. The UK government has adopted the approach to reform and improve the national health care system of the country. The primary source of National Health Service (NHS) of the UK is general tax revenues provided to the Department of Health for allocation and distribution to the various hospital trusts. Balanced scorecard principles require performance measurement of four groups such as financial, customer, internal business processes, and learning and growth.

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