Health Insurance Balanced Scorecard Metrics Template
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.
Health Insurance Metrics in Excel:
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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 (BSC) Excel file and file
in
Balanced Scorecard Designer format.
- Use Health Insurance scorecard online with BSC Designer Online system. This SaaS solutions provides world-wide access to scorecards with any web-browser.
- It is necessary to start the design of KPIs with analysis of business problems, use Free SWOT Method Guide to perform this analysis. Check Balanced Scorecard Toolkit for scorecard designing instructions,
download Key Risk Indicators (KRI) Toolkit for risk management.
More ideas on using Health Insurance KPI: Health has a priority that is rarely ignored by anyone irrespective of the social status held by the person. However, equally true is the fact that the variety of ailments and sensitivity to diseases too have increased manifold as compared to sometime ago. This emphasizes the place held by health insurance in the changed situations. On needs to get ‘health coverage’ done by suitable agency so that in conditions of need, ample financial assistance for health is available at door. The dynamics of this field are almost the ones that operate in any Insurance sector, however with the issue of health being more important for sure, one should be paying greater heed to the subject and tread this path carefully. The buyer of a Health Insurance policy is supposed to make regular payments referred to as ‘premiums’ to be able to make genuine claims, in case health suffers. There are various kinds of covers one can choose from, when it comes to health Insurance. Depending upon the ability to pay premiums, one can settle for any of these. To measure and count successfully the stand held by a Health Insurance, balanced scorecard is one of the appropriate strategies. Metrics laid down on it make it possible to gauge the performance and growth of a Health Insurance player.
More useful information for Medical Estimation:
Business Intelligence (BI) for Medical - measure performance with Health Insurance Scorecard for Excel
We have designed Health Insurance Balanced Scorecard (BSC) in MS
Excel, so now you can measure and control your performance using this popular
business tool. Download
trial
version right now.
Alignment with Balanced Scorecard and KPIs is a great way to control the performance of Medical.
In comparison to other business performance measure and control methods, alignment with KPI is much more easier to implement and use.
Use Health Insurance scorecard to align business performance.
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: health insurance,financial perspective,new business premiums,irr on new business,external funds under management,operating profit,operations,policies sold,value of health policies sold,policy renewals,premiums paid,customer perspective,customer profile,risks profile,consumer complaints,access to insurance,service,claims processed,claims pending,average processing time,hearings processed
.
These indicators can be converted from text into the visualized view with BSC
Designer
strategy map function. Right now you can download trial version of Health Insurance Dashboard or purchase full version of this Balanced Scorecard.
Also, it is possible to import this scorecard into web-based balanced scorecard (BSC) software - BSC Designer Online, so it will be accessible to you and your employees with any web-browser. |
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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 ScoreboardRight now you can download a trial version
of Health Insurance Estimation Balanced Scoreboard or purchase a
full version online. Also, if you are interested you can subscribe to our
e-course that helps a lot with Balanced Scorecard design.
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