Business Intelligence Balanced Scorecard, Product By Medstreaming Inc. Abstract Essay

The risk management program in any business, especially in a health care organization is an integral part of its day to day operation. The purpose of the risk management department is summed up by Kavaler & Alexander (2014), “…a program designed to reduce the incidence of preventable accidents and injuries to minimize the financial loss to the institution should any accident or injury occur” (p. 5). Protecting employees, patients, vendors and visitors is an ongoing process and one that needs to be updated when the healthcare organization has deemed necessary. This paper will demonstrate the importance of presenting the risk management program to new employees, compliance with the standards set forth by the American Society of Healthcare Risk Management (ASHRM), propose recommendations or changes needed to further improve the program, as well as examine the administrative process of managing a risk program.

The healthcare industry consists of many strengths and weaknesses during the improvement of patient safety, efficient operations, reduction of medical errors, and ensuring that they provide timely access to all patient information. This will have to still comply with all legal guidelines as they control costs and protect patient privacy. The adoption of advanced information technology is a popular strategy being used in the healthcare industry because it allows their weaknesses to be progressively diminished as they gain and use the opportunities necessary as an analytical tool. This would allow their capabilities to be further developed with the new technologies and processes used as they unify the adoption of IT standards. In order to stay competitive within the healthcare industry, then there must be specific actions and measures that must be taken to ensure a positive outcome. This includes external opportunities to increase the capability of the IT infrastructure in a national environment as the growth of industry standards are met in order to decrease the pressured threats of legal compliance through patient trust and the high cost of IT. The growing recognition of strategic leadership often leads to both improved financial stability and contact accessibility of the system. Some challenges that may occur within the healthcare system may cause issues in a hospital setting because of the centralized society of an organization. This is because of the different visions and

A balanced scorecard is a method company’s use to measure their performance. It includes objectives, strategies, and tactics. This paper will contain two strategic objectives for each of the four balanced scorecard areas (shareholder value or financial perspective, customer value perspective, process or internal perspective, and learning and growth perspective) for H & R Block. It will also have two strategies for every objective, one tactic for each strategy, and two methods to monitor and control the overall strategic plan for H&R Block.

Over the last several years, a wide variety of health care organizations have been facing a number of challenges. This is because of pressures associated with: rising costs, increasing demands and larger numbers of patients. For many facilities this has created a situation where patient safety issues are often overlooked. This is because the staff is facing tremendous amounts of pressure, long hours and more patients. The combination of these factors has created a situation where a variety of hospitals need to improve their patient safety procedures. In the case of Sharp Memorial Hospital, they are focused on addressing these issues through different strategies. To fully understand how they are able to achieve these objectives requires looking at: specific ways the organization has responded to the crisis in medical errors, their definition of patient safety, the causes of errors, systematic barriers and transformations that have been adopted. Together, these different elements will provide the greatest insights as to how the facility is coping with the crisis in patient safety.

Information technology is a large part of the quality improvement methods that a health care organization uses. Florida Hospital uses Business Objects which is a software company that specializes in business intelligence. Business Objects has components that provide performance management, planning, reporting, query and analysis, and enterprise information management. The Business Objects Enterprise can track report instances that will trigger alerts. These reports are created by Crystal Reports and have parameters that can be modified to perform analysis on the data. The customer can set alerts that trigger when certain conditions are met or not met by the data. The data can be customized to show in charts. Further customization allows the customer the chance to drill down into the data. Other information can be obtained from technology. Information technology allows data to be displayed in a dashboard or a scorecard. Dashboards are tool that monitor the ongoing performance of a

It is estimated that nearly 100,000 people die each year from medical errors in hospitals, with an estimated cost of between $17 and $29 billion per year. Finding a solution to this crisis has become a priority for every healthcare organization, with the realization that most errors are not caused by reckless staff, but by poor systems and processes (Institute of Medicine, 2000). Consequently, healthcare has begun to look to outside organizations in order to find solutions, by examining industries that are considered highly reliable, despite operating in hazardous situations. The lessons learned by these Highly Reliable Organizations (HROs) can be used to promote safe and reliable performance, which in turn should improve patient and staff

The IOM’s report “To Err is Human: Building a Safer Health System” shocked the health care world and made change necessary. “To Err is Human: Building a Safer Health System” released information that reported that tens of thousands of Americans were dying each year from errors (IOM, 1999). Patient safety moved to the forefront in healthcare like never before and directives were discussed to put quality as a

(IOM) issued the 1999 report, “To Err is Human: Building a Safer Health Care System”. The

The organization that she currently works for has a goal to become a high-reliability organization within the next few years. “A High Reliability Organization (HRO) is one that has been successful in avoiding disasters despite being in a high risk field where accidents can be expected due to complexity,” (Jacobson, 2015). Health care is constantly changing. Common concerns to all healthcare sectors that impact the quality of care is increasing costs and limited resources, system inefficiencies, increasing complexity, and an ever-expanding evidence gap (Weberg, 2012).

The Health Care Industry is complex and is responsible for the health of the country (The Hospital & Healthsystem Association of Pennsylvania; Outcome Engineering, 2010), and ultimately of the world. Unfortunately, according to the Institute of Medicine's comprehensive report, "To Err Is Human," avoidable medical errors annually kill 44,000 - 98,000 hospital patients (Reiling, Knutzen, & Stoecklein, 2003). In addition, as of March 31, 2010, the ten most frequently reported sentinel events within U.S. healthcare organizations are: "wrong site surgery; suicide; operative/post-operative complication; delay in treatment; medical error; patient fall; unintended retention of a foreign body; assault, rape or homicide; perinatal death or loss of function; patient death or injury in restraints" (HealthLeaders Media, 2010). Clearly, many of these

One thing that this website really stresses is the value of teamwork and being transparent with patient care on different levels. The purpose of an incident reporting system is to not necessarily focus on errors that occurred by individuals, but rather look at systems and see if there was a breakdown that occurred and what can be changed or implemented differently from preventing future errors from happening and potentially reaching the patient. The website can also be used to look at an organization as a whole and get healthcare leaders and executives to see the important role of patient safety and the impact that breakdowns can have not only on patients, but also the financial impact, which ultimately will impact the bottom line of any healthcare organization. At the facility where this writer is employed, whenever a safety event is reported, a team sits down to look at what happened before the event, during the event, and after the event. This approach is effective because the team involves individuals from different departments to gather ideas and thoughts about the incident, which was also discussed in the website about having the proper stakeholders present and advocating for patient safety (National Patient Safety Foundation, 2017). Overall, there are many factors that can have an impact on patient safety, but the National Patient Safety Foundation is a great source to start with when discussing ways to improve patient safety and utilizing the proper resources to initiate new practices and promote safer healthcare in the United

Throughout our healthcare career, continuous change is occurring in the healthcare industry. However, this change does not always mean that there is continuous improvement. As healthcare providers, we often do not see the near medication misses, or the sources of harm, we certainly do not see ourselves as a source of injury. So how can we solve the issues of thousands of patients dying or being harmed in equipped, highly trained hospitals? We need to look into high-reliability organizations safety models. We need to be sensitive to operations, reluctant to simplify, aware of catastrophes and predict them instead of reacting to them, ask for advice, and have strength. These characteristics can help to reduce patient safety concerns and potential

According to the study Zelman et al (2003) showed that the Balanced Scorecard was introduced in all areas of a particular industry, particularly with regard to health care such as hospitals, health care systems, health insurers and long-term care. In addition, the balanced scorecard is not only introduced in certain areas even been in use for strategic management at the enterprise level but in use for the evaluation of health programs, the quality of care projects and improvements as well as performance measurement across the organization.

The ABC Company, a premier managed care health insurance provider was faced with the recent health care reform that enforced major changes in the health care industry. ABC had to take initiatives to stay competitive in the industry. The health care reform and market changes demanded ABC to rethink their business model and how they delivered their services. For companies to stay in business it was important to understand their consumers’ perception of the company’s cost of health care and ample access to quality (Bhaskar & Vo, 2012). With the new legislation consumers are hyper aware of the options in health care insurance products available. ABC had to adapt to new market realities: “consumers wanted a company that they perceived had a lower cost than competition and that provided an ample access to quality health care” (Bhaskar & Vo, p.19, 2012). Due to the high elasticity of health insurance people are extremely sensitive to the cost they need to pay. Improvements in medical technology explains high rise in healthcare costs (The Hasting Center, 2015).The CIO of ABC wanted to take advantage of the new environment using information technology based solutions integrated with new processes. The objective for the new systems was to track, influence, and maintain the consumer perception of the company’s efforts addressing these challenges (Bhaskar & Vo, 2012). The ultimate objective of the project was to create infrastructure and business functions to change the opinion of the

The variation in information needs across any healthcare provider organization forces healthcare information technologies (HIT) platforms, systems, processes and procedures to align its design to support the unique information needs of each department and role. The greater this alignment of HIT systems and technologies to specific administrator, doctor, nurse and lab technician roles, the higher the level of overall systems performance and results attained (Agrawal, Grandison, Johnson, Kiernan, 2007). Just as an enterprise has strategic information needs that help to define the future direction of the business, healthcare provider organizations also have a comparable set of strategic information needs. The administrative roles in healthcare providers need to have a consolidated view of the organization from a cost, quality management, service level, patient recovery rate, patient satisfaction and profitability standpoint as well (Middleton, 2005). All of these factors are often gathered together in a dashboard that administrators often rely on to manage the core areas of their healthcare business (Leung, 2012). Administrator's information needs are also longer term in nature and more oriented towards the development of strategic initiatives that will last several years, requiring