Montefiore Medical Center's mission is to provide patient care and services that meet the needs of the diverse community-which includes 400,000 children.
Montefiore also aims to provide educational experiences for physicians, nurses, social workers, respiratory therapists, and high school students. Community service and research are two additional components of Montefiore's mission.
Using the Balanced Scorecard, Montefiore was able to go beyond cost reduction to provide high quality cost effective patient care. The scorecard helped Montefiore grow volume and market share, rebalance its academic and clinical staff, upgrade its facilities-including its information and technology systems-and set targets to achieve them.
"The Balanced Scorecard gave us discipline and focus; nothing will help you more when you're trying to align a very large organization around a strategy. It gave us the notion of balance and helped us hone in on the drivers to improve our financial performance. We've achieved enormous credibility by producing the measures by which we will be held accountable. Our inpatient market share has grown significantly since we implemented the scorecard, and that growth has been our success story."
Elaine Brennan, Senior Vice President of Operations