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| 1 minute read

Do you know the acronym ESG and why is it important?

Environmental, social, and governance (ESG) criteria have been used for years in corporate America as an additional measure of performance outside the traditional balance sheet and income statement. Today's C-suite wants to measure the value their businesses create in the context of corporate responsibility. This is also a reality in both the for-profit and not-for-profit hospital systems where radiologists practice, and it offers radiologists a virtuous circle: By contributing to your hospital’s efforts to improve its ESG performance in the community it serves, you get to do good while increasing the value your hospital places on its relationship with you.

Radiologists should be attuned to their hospital's ESG efforts in the community. Has your hospital or health system brought ESG activities together under one department and leader at a high level like the C-suite? Are you connected and engaged with that leader?

In the September 23, 2021 issue of Modern Healthcare, consultants Igor Belokrinitsky and Trine Tsouderos encourage hospitals to spread the word about all of their ESG activities. Hospitals should, they write, broadly communicate their ESG initiatives to stakeholders — including investors, philanthropists, patients, employees, and community members. Do you have stories to tell that can enhance that messaging by your hospital?

For example, radiologists could tailor breast and lung cancer screening programs to meet the needs of medically underserved populations in their local community. Do you have relationships with the Federally Qualified Health Center in your community? If so, you have stories to share that hospitals will value. Share examples of your community engagement on your social media platforms like Facebook and LinkedIn. 

Hospitals are tracking ESG metrics. Don't forego the opportunity to make sure your contributions to the community are featured prominently on the hospital's ESG scorecard. 

This leader can take an inventory of all activities happening across the organization and set objectives and priorities and crowdsource resources and expertise to create programs that are more effective and cost-efficient.


health care & life sciences, esg, corporate responsiblity, metrics