Solved: Consumers employers and governments at all

levels are very con

Consumers, employers, and governments at all levels are very concerned about the rising costs
of health care. As a result, health-care systems nationwide are experiencing an ongoing
demand to improve the efficiency of their operations. The health-care industry faces significant
challenges due to changing patient needs, reduced reimbursement, and the fierce competitive
environment. The industry is experiencing consolidations through system wide mergers and
acquisitions as a way to reduce operating costs. Patients and payors are demanding a one-stop
shopping approach. While improving operations is necessary, the quality of the health care
delivered must not be jeopardized. The Medical University of Greenbelt is feeling the impact of
the increasing penetration of its market by managed-care companies. As a result, management
has been asked to develop a strategic plan to ensure that its funding sources will continue to
meet the demands of its patients. Because it is an academic medical center, the Medical
University of Greenbelt’s mission encompasses three components: clinical care, education, and
research. Management must consider these competing objectives in the proposed plan:

Required
1. What should the Medical University of Greenbelt’s strategy emphasize?
2. Do you think a balanced scorecard could help ensure the success of the Medical University of
Greenbelt? What advantages does a balanced scorecard have over a traditional approach?
3. Determine four or five critical success factors for each of the four areas within the balanced
scorecard. Remember that in addition to patients, its employees, suppliers/distributors, other
training entities, community, and payors are considered customers.
4. What types of challenges will management face in implementing a balanced scorecard? How
can employee buy-in be increased?

ANSWER
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