Abstract No. 279 EE: Implementing the Balanced Scorecard Strategic Assessment Tool in Interventional Radiology

Abstract

To introduce the balanced scorecard as a strategic assessment tool at an academic medical center. The balanced scorecard is a strategic assessment and planning tool used to align professional activities with a defined strategy. Its use can help improve internal and external communications and monitor a division/group's performance against strategic goals. Scorecards should address four key elements: learning and growth, business processes, customer, and financial. Each practice must define strategic goals prior to considering components of their scorecard. Subsequent metrics should be simple and directly address the defined strategy. HI-IQ software can be used to monitor and collect the data, which can then be easily exported to a spreadsheet program. Learning and growth can be tracked via diligent measurement of complications and near misses. Procedural and process improvements can be input for each patient following relevant cases. Procedure time and inventory management are important factors easily gleaned. Patient and referring physician surveys can be monitored on HI-IQ with reminders for office staff conducting the phone or mail questionnaires. Financial metrics regarding inventory management can be obtained using the program and should be a part of the financial strategy. 1) The balanced scorecard can help interventional radiology practices align ongoing learning, business processes, customer satisfaction, and financial metrics with their strategic goals. 2) HI-IQ can be an effective tool to help monitor and track key metrics. 3) Care must be taken to keep the process simple with overly complicated measurements detracting from the beauty of the balanced scorecard tool.