How Health Organizations Can Integrate ESG Priorities

Providers, payers and pharmaceutical and life sciences organizations have historically embraced the social pillar of environmental, social and governance (ESG) efforts, caring for patients and creating medications, vaccines and devices that improve human health and save lives. PwC’s Health Research Institute (HRI) analyzed the ESG efforts of 45 health systems and payers and 32 pharmaceutical and life sciences companies, finding health organizations could reap additional rewards by also embedding more of an environmental and governance focus into their overall strategy.

For-profit and not-for-profit healthcare organizations have different motivators, audiences and reporting requirements when it comes to ESG, but both serve communities that are increasingly aware of what socially responsible organizations look like. Additionally, government bodies, regulators, investors and consumers have increased expectations for responsible business practices. Providers and payers have ample opportunities to differentiate themselves by improving their reporting and storytelling around ESG, and to build trust with the communities they serve, and with investors, donors and other stakeholders.