The Competitiveness and Balanced Scorecard of Health Care Companies

Abstract

Purpose - To do the research of competitiveness, balanced scorecard theoretical aspects, to indicate how balanced scorecard concept can increase competitiveness of private health care companies in Latvia. Design/methodology/approach - Research methodology includes the analysis of theoretical background and two survey data about private health care companies in Latvia. Findings - Globally recognized is the balanced scorecard concept. Latvian health care companies are not using in evaluation all of the main indicators influencing the company’s competitiveness and they do not group them into four perspectives of balanced scorecard for analyzing health care companies, as well as by evaluating the factors which are significant for patients in choosing the health care company. Price level, quality of health care services and the company’s images in Latvia are significant factors that can influence the health care company’s competitiveness not only in the local markets, but in global ones as well. Originality/value - The paper combines the research of competitiveness and balanced scorecard. Competition on value is crucial for health care companies, because they have to take into account the immaterial value - patient’s health.