Health Insurance Balanced Scorecard Metrics

KPIs are nothing but financial and non- financial measures of a firm's strategy to achieve its objectives. They are one of the most useful methods to perform the strategic task of managing and controlling performance.

Different KPIs apply to different industries. They vary according to the nature of industry, its size, structure, risks and opportunities. Health Insurance industry has developed its own set of performance indicators which can be applied to predict the effectiveness of a company's strategies. KPIs in this industry can be categorized from the perspective of Finance, Operations, Customers and Service.

Financial performance is one of the best criteria to judge the well being of an organization. These indicators are used to point towards the financial performance of various health insurance policies and the overall management of the business. Performance in this domain can be monitored by knowing about the premiums earned, IRR, amount of funds under management and the figures for operating profits.

Another category pertains to Operations which includes the number of health policies sold, value of these policies, number of policies renewed and premiums paid out as the measurement yardsticks.
Next the business can be reviewed from the customer perspective which essentially deals with the efficiency and convenience of services provided to the customers. This can be counted by knowing the number of customers, risks covers provided to them, number of complaints and the accessibility of company's products to the customers in rural areas.
Last but not the least can be the Service category wherein the indicators give an idea of quality of service to citizens. This can be assessed by having an idea of the number of claims processed, claims pending, average processing time and processed hearings.

• Download trial version of Health Insurance Dashboard. Health Insurance Estimation Balanced Scoreboard is distributed as an Excel file. Before purchase you can download a trial version of the scorecard. Health Insurance Estimation Balanced Scoreboard Excel file contains a dashboard (see screenshots below), help information section, Balanced Scorecard details.
• Purchase full version of Health Insurance Dashboard. Immediately after your order will be processed you will have a link to download Balanced Scorecard Excel file and file in Balanced Scorecard Designer format.
• Check Balanced Scorecard Toolkit for scorecard designing instructions.

More useful information for Medical Estimation:

• Related metrics and KPIs for: Medical, Medical Supplies, Health care facilities.
• Medical best practices articles: KPI vs. Balanced Scorecard, Design Scorecard with BSC Designer, Performance Management and Control Problem of Medical Industry, Performance and management problems in the health insurance industry, Performance and control problems in health-care facilities.
• Balanced Scorecard e-course. In this e-course you will learn more about Balanced Scorecard niche. We talk about Balanced Scorecard design and management issues.

Recent posts in KPI forum: Time Frame for BSC, Time Frame for BSC, KPIs in banking sector

• Balanced Scorecard toolkit. Is a whitepaper where you will learn more about mathematics that stands behind Balanced Scorecard, you will learn basic ideas that will help to design your own scorecard, develop and implement KPI in your business processes.
• Balanced Scorecard fact sheet. The collection of business facts and statistics on Balanced Scorecard.
• Scorecard Design Software. This metric was designed with Balanced Scorecard Designer. This is a great tool for scorecards or KPI building, performance measurement and information sharing.

How to measure Medical performance with Health Insurance Scorecard for Excel

We have designed Health Insurance Balanced Scorecard in MS Excel, so now you can measure and control your performance using this popular business tool. Download trial version right now.

Why do I need these metrics?

MS Excel files that we distribute are a spreadsheets packed with metrics information and the performance calculation formulas.

It's a real-business information. We invested in research that involved experts from Medical Evaluation industry who elaborated and shared certain metrics. It's valuable, real-life experience which will help to improve the performance of your business.

• I'm sure you understand the importance of measuring and controlling business using correct metrics, so this small investment will return in a great increase in sales.

• To get a basic idea about what metrics to use. We learned a lot of business metrics and packed scorecard with the most successful.

• To have a sample excel file, which is easy to modify to fit your needs. All Excel formulas are available for copy and change.

• To start with measuring business performance. It's important to start with correct metrics, then you will be able to fulfill scorecard.

Health Insurance Estimation Balanced Scoreboard Screenshots

Metrics for Medical Estimation. This is the actual scorecard with Health Insurance Dashboard and performance indicators. The performance indicators include: page_metric_keywords. Right now you can download trial version of Health Insurance Dashboard or purchase full version of this Balanced Scorecard.

Some Balanced Scorecard help information that explains how to interpret scorecard. What scores and weights can be changed.

Download or purchase Health Insurance Estimation Balanced Scoreboard