You are a staff member of a strategic planning department of amid-size community hospital. Senior management has decided toinitiate a major campaign to differentiate the hospital in itsmarket as a leading provider of cardiac services. The hospital’sstrategic plan calls for it to make a substantial investment duringthe next five years in a new cardiac center that will havestate-of-the-art cardiac technology. The hospital will alsoinitiate a major recruiting campaign for top cardiologists andcardiac surgeons. The head of your department asks you to prepare amemorandum outlining a balanced scorecard to account for this newstrategic initiative. Propose three measures for such a scorecard.Each measure should represent a different performance dimensionthat is relevant for the hospital’s new strategy. Of the threemeasures, at least one should be forward looking and at least oneshould be backward looking. For each measure, briefly discuss thereason for its inclusion and why you have selected it as forward orbackward looking.
