Developing and using a balanced scorecard: a case study with SWOT analysis

Have you tried to measure your laboratory's performance lately? Do you measure and assess financial results, customer satisfaction, internal process efficiency, and learning and growth? If any of these metrics are missing from your performance measurement system, you are not using the latest management tool that is sweeping the health-care industry--the balanced scorecard (BSC). This article begins with a discussion of the BSC and why you should use it in your laboratory, followed by SWOT analysis to assess the strengths, weaknesses, opportunities, and threats (SWOT) a BSC offers your laboratory. A laboratory case study is then presented to assist you in developing and using a BSC in your laboratory.