Quality & Risk

BALANCED SCORECARD & QUALITY INDICATORS

What is a Balanced Scorecard?
The Balanced Scorecard is a tool used to measure an organization’s activities and initiatives against its Mission, Vision and Values as outlined in its Strategic Plan. The tool is designed to help ensure the organization’s activities and initiatives being monitored are comprehensive and reflect a well-balanced approach to achieving the Vision.

This framework is based on the premise that “what gets measured gets managed”; however, since it is not possible to measure everything, choosing the best quality indicators is critical.

What are Quality Indicators?
Quality Indicators (QIs) are developed for each area of the balanced scorecard and must be selected carefully to ensure they provide a useful measure of the progress the Organization is making towards fulfilling its strategic plan.

The acronym SMART is used when describing the important considerations in the identification of meaningful indicators. SMART reminds us that the indicators we choose need to be specific, measurable, achievable, realistic, and timely.

Louis Brier’s Quality Indicators

The indicators chosen for Louis Brier’s scorecard are both financial and non-financial. This enables the organization to maintain a balanced approach between financial issues and other critical dimensions in health care such as quality, safety and risk when monitoring and measuring our progress.

Louis Brier Home and Hospital Quality Indicators for fiscal year 2020/21:
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