{"id":12847,"date":"2024-11-21T12:42:11","date_gmt":"2024-11-21T12:42:11","guid":{"rendered":"https:\/\/osapiens.com\/?p=12847"},"modified":"2024-12-05T15:04:12","modified_gmt":"2024-12-05T15:04:12","slug":"transparency-and-accountability-in-healthcare-how-the-csrd-is-driving-hospitals-forward","status":"publish","type":"post","link":"https:\/\/osapiens.com\/blog\/transparency-and-accountability-in-healthcare-how-the-csrd-is-driving-hospitals-forward\/","title":{"rendered":"Transparency and accountability in healthcare: how the CSRD is driving hospitals forward\u00a0"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\" id=\"h-why-now-is-the-perfect-time-to-take-a-strategic-approach-to-sustainability-nbsp\"><strong><em>Why now is the perfect time to take a strategic approach to sustainability<\/em><\/strong>&nbsp;<\/h3>\n\n\n\n<p>Sustainability has long since become more than just a trendy topic &#8211; it is now a core concern for companies in all industries, including healthcare. Hospitals are now faced with the challenge of considering and transparently reporting on environmental, social and governance (ESG) issues throughout their supply chain, with the introduction of the new Corporate Sustainability Reporting Directive (CSRD).&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>However, the CSRD not only brings challenges, but also enormous opportunities for the healthcare sector.&nbsp; In this article, we examine what the CSRD means for hospitals and how they can use this opportunity to future-proof themselves.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-csrd-what-is-it-nbsp\">The CSRD: What is it?&nbsp;<\/h2>\n\n\n\n<p>The Corporate Sustainability Reporting Directive (CSRD) is an EU directive that requires companies to produce comprehensive and detailed sustainability reports. The aim is to create transparency along the supply chain and bind companies to specific reporting requirements.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>The CSRD applies to all companies that meet at least two of the following criteria:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>More than 250 employees&nbsp;<\/li>\n\n\n\n<li>Annual turnover over \u20ac25 million&nbsp;<\/li>\n\n\n\n<li>More than \u20ac50 million net turnover&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Many hospitals meet these criteria and must provide detailed sustainability information. This includes both the environmental performance of the materials used and the social standards of the suppliers used.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-the-csrd-important-for-hospitals-nbsp-nbsp\">Why is the CSRD important for hospitals?&nbsp;&nbsp;<\/h2>\n\n\n\n<p>Hospitals are increasingly subject to the requirements of growing ESG regulations. They often have extensive and complex supply chains, procuring both medical and non-medical products. Under the CSRD, hospitals are now required to provide transparency on these supply chains and to document the sustainability of the materials they purchase.&nbsp;<\/p>\n\n\n\n<p>In Germany, the CSRD extends the existing reporting requirements for many hospitals already established by the Supply Chain Due Diligence Act (LkSG). While the focus has been on social standards, environmental aspects are now also coming to the fore.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>In this context, sustainability reporting takes on a strategic importance that can contribute to strengthening a hospital&#8217;s own sustainability strategy beyond the legal requirements.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-opportunities-for-hospitals-more-than-compliance-nbsp\">Opportunities for hospitals: More than compliance&nbsp;<\/h2>\n\n\n\n<p>The implementation of the CSRD can become a strategic advantage for hospitals. A well-thought-out ESG strategy not only helps to comply with regulations such as the CSRD, but also builds trust and creates competitive advantage. A sustainable and transparent approach is particularly valuable in an industry where transparency and trust are key. Here are some of the opportunities that arise:&nbsp;<\/p>\n\n\n\n<p><strong>Building trust and reputation\u00a0<\/strong><\/p>\n\n\n\n<p>A transparent and responsible approach strengthens the trust of patients, partners and the public. This can lead to improved reputation and competitive advantage.&nbsp;<\/p>\n\n\n\n<p><strong>Improving supply chain efficiency<\/strong>\u00a0\u00a0<\/p>\n\n\n\n<p>A detailed analysis of the supply chain can reveal inefficiencies and identify opportunities for improvement. This leads to cost savings and improved service quality.&nbsp;<\/p>\n\n\n\n<p><strong>Attractive employer<\/strong>\u00a0\u00a0<\/p>\n\n\n\n<p>Sustainability is also an important factor for employees. A hospital that takes responsibility is more attractive to qualified professionals and can increase staff loyalty.&nbsp;<\/p>\n\n\n\n<p><strong>Risk minimisation\u00a0\u00a0<\/strong><\/p>\n\n\n\n<p>Compliance with the CSRD will minimise legal risks. At the same time, potential problems in the supply chain can be identified and addressed early on.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-csrd-challenges-for-hospitals-nbsp\">CSRD challenges for hospitals&nbsp;<\/h2>\n\n\n\n<p>The implementation of the requirements of the CSRD poses a significant challenge for hospitals. The data required is often complex and needs to be collected from multiple sources and coordinated with numerous suppliers. Collecting reliable data on environmental and social issues in supply chains is particularly difficult because many suppliers are not yet able to provide standardised ESG reports.&nbsp;&nbsp;<\/p>\n\n\n\n<p>In addition, the manual collection, assessment and reporting of the data would require a significant amount of work. Hospitals, which are already under considerable pressure in terms of staffing and costs, can quickly reach their capacity limits. It is therefore essential to minimise this effort through the use of modern tools, while still ensuring ESG compliance.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-osapiens-hub-your-platform-for-sustainable-transformation-nbsp-nbsp\">osapiens HUB: Your platform for sustainable transformation&nbsp;&nbsp;<\/h2>\n\n\n\n<p>The osapiens HUB provides hospitals with an innovative solution to efficiently and legally comply with the requirements of the CSRD and other ESG regulations. This software platform combines all ESG regulations in one place, covering the requirements of the CSRD and the Supply Chain Due Diligence Act. It supports hospitals in data collection, risk assessment and reporting.&nbsp;&nbsp;<\/p>\n\n\n\n<p>A key advantage of the osapiens HUB is its holistic approach: all relevant data and processes are centrally managed via one platform, which significantly reduces manual effort. Automated processes and industry-specific templates enable hospitals to manage their ESG reporting in an efficient and compliant manner. This frees up staff time for core tasks, while ensuring that all sustainability requirements are met.&nbsp;&nbsp;<\/p>\n\n\n\n<p>With the osapiens HUB, hospitals can take a strategic approach to sustainability and confidently meet regulatory requirements while promoting sustainable healthcare.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why now is the perfect time to take a strategic approach to sustainability&nbsp; Sustainability has long since become more than just a trendy topic &#8211; it is now a core concern for companies in all industries, including healthcare. Hospitals are now faced with the challenge of considering and transparently reporting on environmental, social and governance (ESG) issues throughout their supply &#8230; <\/p>\n<div><a href=\"https:\/\/osapiens.com\/blog\/transparency-and-accountability-in-healthcare-how-the-csrd-is-driving-hospitals-forward\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":37,"featured_media":11195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-12847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How the CSRD is driving hospitals forward | osapiens<\/title>\n<meta name=\"description\" content=\"In this article, 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