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• Case | HBS Case Collection | March 2020

  Performance Management at Afreximbank

  Robert S. Kaplan, Siko Sikochi and Josh Steimle

  Keywords: performance management; Balanced Scorecard; Performance Expectations; Performance Evaluation; Performance Improvement; Organizational Culture; Strategy; Banking Industry; Africa;

  Citation:

  Kaplan, Robert S., Siko Sikochi, and Josh Steimle. "Performance Management at Afreximbank." Harvard Business School Case 120-029, March 2020.  View Details

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• Working Paper | HBS Working Paper Series | 2020

  Novel Risks

  Robert S. Kaplan, Dutch Leonard and Anette Mikes

  All organizations now practice some form of risk management to identify and assess routine risks for compliance; in their operations, supply chains, and strategy; and from envisioned external events. These risk management policies, however, fail when employees do not recognize the potential for novel risks to occur during apparently routine operations. Novel risks – arising from circumstances that haven’t been thought of or seen before - make routine risk management ineffective, and, more seriously, delude management into thinking that risks have been mitigated when, in fact, novel risks can escalate to serious if not fatal consequences. The paper discusses why well-known behavioral and organizational biases cause novel risks to go unrecognized and unmitigated. Based on best practices in several organizations, the paper describes the processes that private and public entities can institute to identify and manage novel risks. These risks require organizations to launch adaptive and nimble responses to avoid being trapped in routines that are inadequate or even counterproductive when novel circumstances arise.

  Keywords: Risk Management; Policy; Failure; Organizational Change and Adaptation;

  Citation:

  Kaplan, Robert S., Dutch Leonard, and Anette Mikes. "Novel Risks." Harvard Business School Working Paper, No. 20-094, March 2020.  View Details

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• Article | Health Management, Policy and Innovation | 2019

  Mandate Outcomes Reporting

  Robert S. Kaplan and Michael E. Porter

  Currently, few health care providers measure and report their patient outcomes, which leads to several problems. Attempts to introduce price transparency without outcomes transparency could trigger a “race to the bottom.” Should Medicare coverage be expanded to non-elderly populations, its much lower reimbursements will create pressure on providers to lower their spending in ways that produce even worse outcomes. Even without Medicare expansion, the lack of systematic outcomes measurement has made the migration from fee-for-service to value-based reimbursements, especially bundled payments, less effective and more difficult to implement. Hidden variation in outcomes prevents providers from learning from others how to produce better outcomes for their patients. We propose that the Congress elected in November 2020 mandate the Centers for Medicare and Medicaid Services to begin requiring outcomes measurement by all providers reimbursed under government Medicare and Medicaid programs.

  Keywords: outcomes reporting; outcomes measurement; Medicare; Medicaid; Health Care and Treatment; Outcome or Result; Measurement and Metrics;

  Citation:

  Kaplan, Robert S., and Michael E. Porter. "Mandate Outcomes Reporting." Health Management, Policy and Innovation 4, no. 3 (2019).  View Details

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