Question 1

Question 1 Hermes Hospitals Group (HHG) provides a private hospital medical services to private clients and company employees who are members of their insurance scheme- Service Heads coordinate and organise the medical services provided using Medical Consultants and their own theatre staff and nurses. Each medical procedure or service has a standard price and costs are carefully controlled by benchmarking against the NHS using industrial intelligence. A further 10% in costs is allowed based on the goal to improve the customer's experience by providing more nursing and consumables such as towels, slippers and other comforts. Customers (patients) are given a risk assessment and the medical procedure or service is undertaken on a xed price basis, subject to major alterations in the service provided. HHG prides itself in providing a reliable, high quality service using the latest medical techniques and highly competent Consultant surgeons. Longer term. HHG woutd like to have a full complement of surgical services for all non-emergency operations and be the provider that individuals and companies choose. However, this would not be undertaken without making sure it's main shareholders, Life & Pensions Inc who are based in USA. are happy with the proposed return. Life & Pensions currently expect, on average. a 6% return. Currentty Oncology and Ear. Nose and Throat are not offered. Requirementse' (a) Create an initial draft of a Balanced Score Card for BBC by identifying one objective for each aspect of the Balanced Score Card and specifying a suitable measure and target for each objective. Justify your choice of objective, measure, and target (4 (b) Make recommendations on how the Hospital could make use of Total Quality Management (1' QM), Benchmarking or any other Strategic Management Accounting tools to help them achieve their targets and improve their performance.<