| Eroding margins and a shortage of trained staff make a skilled nursing facility (SNF) more challenging to operate each year. Spurred by a competitive and complex healthcare environment, SNFs must improve quality of services while cutting costs. With recent dramatic changes in healthcare reimbursement, this capstone project will apply a Balanced Scorecard (BSC) approach to analyze and evaluate the operational effectiveness of a SNF without sacrificing resident care. BSC is a strategic planning and management system used in business, government, and nonprofits to align activities to the mission and strategy of the organization. As a performance measurement framework that adds non-financial performance measures to traditional financial metrics, BSC gives management a more 'balanced' view of organizational performance. This capstone explores the use of BSC methodology for performance improvement. The benefits of a BSC program were examined by the assessment of this nursing home's current status, as well as the capacity for improvement. The three aspects examined, Financial Standing, Quality Measures, and Employee Retention, are linked, and therefore must be studied together to ensure a common organizational culture and an emphasis on strategic goals. Upon these considerations, it is suggested that the benefits of a BSC program from a customer and employee satisfaction basis be introduced. The goal is to become the "Employer of Choice" and "Post-Acute Provider of Choice" in Central New York. Keywords: Health Care Administration, Dr. Hart, Dr. Gail Young, Human Resources, CMS, SWOT, Long Term Care. |
