A balanced scorecard is a framework that translates strategic directions into a set of performance measures that help indicate how well an organization doing. It is called “balanced” because ideally, the scorecard should include measures from all aspects of the business, and should include both long and short-term indicators.
The TSH balanced scorecard includes measures from each of our four strategic directions. Some of the measures were chosen specifically by TSH’s executive team while others are publicly reported indicators that TSH is mandated by the province to include. Obviously, a balanced scorecard cannot measure every aspect of a business, but overall, it is a good indicator of an organization’s strengths and weaknesses.
TSH’s scorecard, which is updated quarterly, is presented to The Scarborough Hospital’s Board of Directors who uses it to monitor the progress of the hospital. It is also posted on the hospital’s website as part of TSH’s commitment to transparency and public accountability.
Each indicator includes a target or benchmark and the red, yellow and green colour coding tells viewers at a glance whether or not TSH is meeting the benchmark. Where an indicator is not meeting the benchmark an action plan is created. This plan outlines activities and programs that have been started to ensure that performance improves on that indicator.
To review the The Scarborough Hospital’s Balanced Scorecard please click here. (Please note, this PDF is approximately 4.5MB in size)