SOURCE:3BL Media, LLC
DESCRIPTION:
Healthcare organizations have been on the sustainability track for some time now. With its many large facilities, its purchases of vast numbers of goods and services, from equipment to energy, and its huge workforce, the healthcare sector has looked at sustainability as just common business sense. But with the revolutionary changes in business models caused by the Affordable Care Act, there’s an increasing need to quantify those sustainability practices in financial terms. Today, defining sustainability in healthcare is a bottom line necessity in reducing costs and improving ROI.
A new report, What Matters and Where: Managing Sustainability in the Healthcare Sector, by BrownFlynn and Trucost, describes how healthcare organizations can put specific numbers to sustainability by using a value chain approach. BrownFlynn’s Impact Mapping and TruCost’s Natural Capital Accounting are two new tools that can be used to analyze value chain impacts. Companies such as Dignity Health, Baxter International, Novo Nordisk, and the U.K.’s National Health Service have used these tools to analyze and manage the billions of dollars in resources that the sector requires for its trillions of dollars in revenue generated. Getting a better grip on numbers that large could result in big cost savings and even bigger profits.
I’m John Howell for 3BL Media.
Video source: Building the Bottom Line Business Case for Sustainability in Healthcare
KEYWORDS: Health, Business & Trade, 3bl media llc, CSR Minute