|For the third time in five years, Cleveland Clinic has been named one of the World’s Most Ethical Companies by the Ethisphere Institute.
The award “highlights companies that outperform industry peers when it comes to ethical behavior,” according to the Ethisphere Institute. The 2013 award winners “are those that truly embrace ethical business practice and demonstrate industry leadership, forcing peers to follow suit or fall behind.”
Cleveland Clinic has established itself as an industry leader through a variety of innovative initiatives. In recent years, Cleveland Clinic has instituted programs that manage potential conflicts of interest; provide transparency on the industry relationships of physicians and researchers; publicly report clinical outcomes; offer free health and wellness programs to employees and their dependents; and promote environmentally friendly building and sustainability programs.
"It’s a tremendous honor to know that we’re being recognized as a system that values transparency and ethical decision-making,” said Cleveland Clinic President and CEO Toby Cosgrove, MD. “It is yet another sign that we are committed to doing what’s right for our patients, our community and our caregivers.”
Companies were graded in five categories: ethics and compliance programs; reputation; leadership and innovation; governance; corporate citizenship and responsibility; and culture of ethics.
“This award reflects the importance Cleveland Clinic places on corporate compliance, transparency, social responsibility, environmental stewardship and ethical decision-making in all facets of our enterprise,” said Donald A. Sinko, Cleveland Clinic’s Chief Integrity Officer. “This is a tribute to the staff and leadership at Cleveland Clinic who are committed to promoting a healthier community and providing patients with information and opportunities to actively engage in their own health care.”
The Ethisphere Institute – which describes itself as an “international organization dedicated to the creation, advancement and sharing of best practices in business ethics, governance, anti-corruption and sustainability” – reviewed nominations from thousands of companies, spanning 36 industries and more than 100 countries.
Companies are selected as the World’s Most Ethical after Ethisphere reviews each companies’ codes of ethics; litigation and regulatory infraction histories; investment in innovation and sustainable business practices; activities to improve corporate citizenship; and nominations from senior executives, industry peers, suppliers and customers.
View the complete list of the 2013 World’s Most Ethical Companies here, as well as in the 2013 Quarter 1 issue of Ethisphere Magazine.