By Adam Turteltaub
ESG, or Environmental Social and Governance efforts, may not be a mandate quite yet for healthcare providers, but already there are heavy demands for ESG-related information from regulators, the public and bondholders.
As organizations pull together the data they need to report, says Rebekuh Eley and Rick Kes of RSM, it’s important to make sure that you have a thoughtful process behind it so that the data is accurate, consistent and complete. The last thing an organization wants is to have faulty data.
At the same time, many organizations only scratch the surface of what they can take credit for in terms of increasing health equity for the communities they serve or improving their environmental footprint. That information can be helpful in meeting federal tax compliance requirements.
While some may see ESG as something new and different, they note that community health is squarely under the S (Social) aspect of ESG.
Keeping a good score on your ESG efforts can help demonstrate that your organization is meeting its obligations to the community and 501(r) requirements. It can also earn you credit for your environmental and governance efforts, including the number of community members who are on your board.
Listen in to learn more about ESG and its role in healthcare