目的：本文以「價值基礎管理」模式，做爲醫院績效管理之依據，尤其是績效獎金制度之設計。 方法：衡量非營利的財團法人醫院的社會經濟價值，即指社會投資報酬率(Social Return on Investmen: SROI)大於或等於其加權平均資金成本（weighted average cost of capital,簡稱WACC），代表其經營績效值得肯定。本研究以財團法人A醫院爲案例。 結果：本研究A醫院應用『價值基礎管理』模式，來評估其經營績效與對社會的貢獻度，分析結果顯示，2004年～2006年之社會經濟價值分別爲267,156,624元、415,812,888元及l,197,115,669元；顯見A醫院能提供社會服務的使命價值（兼顧經濟及社會利益）存在。再依社會經濟價值的達成狀況，配合各階層績效指標的設計，計算績效獎金，激發全體員工創造更高的社會經濟價值，使管理人員及員工能明確了解而做正確之決策。 結論：價值基礎管理模式施行在財團法人醫院中，可使醫院之高階主管重現長期經營績效，而非追求短期利益，經由長期社會經濟價值的創造來確保組織使命的達成，並獲得社會普遍的肯定。應用社會投資報酬率與社會經濟價值評估，可了解醫院對社會公益的貢獻程度，並可顯示醫院是否具備自給自足與永續經營方面的經濟價值。

Objectives: The main purpose of this paper is to apply the value based management model (VBM) on performance management, especially in the linkage of incentive compensation system in nonprofit sector. Methods: The measurement of social economic value depends on the social return on investment (SROI) and the cost of capital. Hospital has its own social economic value when the SROI is greater than weighted average cost of capital. Certainly, hospital shows its comprehensive performance by social economic value. Data from a non-for-profit hospital was used for this case study. Results: The simulation result of a hospital case shows its good performance based on social economic value. The social economic value among 2004-2006 years were NT$267,156,624,415,812,888 and 1,197,115,669 dollars. Owing to the linkage among social economic value, performance management and compensation in the VBM system, management of the hospital has motivation to make good decisions for financial self-reliance of the hospital. Conclusion: The system of VBM facilitated the hospital executives to focus on long-term operating performance, instead of short-term profit by means of the creation of social economic value. When the design of performance compensation links up with the social economic value and performance indicators in different level of organization, the hospital executives were motivated to create social economic value.