Corporate social responsibility in hospitals: Need for transparent CSR initiative for internal and external stakeholder

Abstract

Social Responsibility programs are important tools for policy, and this also applies equally well in the context of the Business System. The business houses other than the healthcare industry have clearly shown in recent times that it is possible to achieve a strategic balance between financial, economic and commercial priorities. The current operation of the commercial hospital relies on the anarchic premises that the healthcare sector operates on the premise that "what is beneficial for patients or culture can not be good for business." At a period when patients are over-exposed to medical treatments, and only those who are well-insured can manage medical treatment, a problem arises, 'is it not necessary for corporate hospitals to pursue CSR initiatives.' A significant corollary issue, which must also be discussed, is whether and why corporate hospitals need to foster CSR initiatives. This paper I undertakes a thorough examination of CSR programs in corporate hospitals in the Indian context, i.e. corporate hospitals and the healthcare sector; (ii) explores the effects of CSR modelling in corporate hospitals in order to strike the right balance between their social and economic objectives.