CEO Morning Brief

IHH Healthcare Aims to Achieve Net Zero by 2050

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Publish date: Wed, 21 Sep 2022, 08:48 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (Sept 20): Integrated healthcare provider IHH Healthcare Bhd announced on Tuesday (Sept 20) its goals to cap carbon emissions by 2025 and achieve net zero by 2050, while continuing to grow the business.

The company also unveiled its sustainability goals, which are encapsulated in the four pillars of patients, people, the public and planet. It aims to be the most trusted private healthcare provider and employer of choice in private healthcare in all its markets by 2025, and touch five million lives by building healthier communities by 2025.

These announcements were made in conjunction with the 10th anniversary of the company’s dual listing in Malaysia and Singapore.

The targets under each pillar are time-bound, science-based and aligned to eight of the relevant United Nations’ Sustainable Development Goals, according to IHH.

“What’s important is that we act today to build a better tomorrow. That means we set concrete, short-term and medium-term goals, and we track the progress of our action plans against these targets. We will disclose our progress as we make our sustainability report each year,” said Dr Kelvin Loh, the managing director and chief executive officer of IHH.

The company, which has 80 hospitals in 10 countries, is already implementing several major programmes under these pillars.

One of the programmes is the expansion of its value-driven outcomes (VDO) initiative globally to tackle medical inflation. The VDO initiative aims to improve outcomes and care for patients while reducing costs. Its hospitals in Malaysia, Singapore, Turkey and India are already participating in the VDO.

“What this means is that we measure the clinical outcomes of procedures that we do, then we track the cost of various items and procedures over time. We do an analysis with regard to what is actually most effective, and produce outcomes,” said Loh.

“We remove those that are not effective. In this way, we can help bend the medical inflation cost curve.”

Based on the data collected, improvements in procedures can be made. IHH aims to achieve 90% of VDO outcomes at or above international benchmarks by 2025.

The company is also taking action to address antimicrobial resistance (AMR). AMR occurs when bacteria, viruses, fungi and parasites evolve over time and no longer respond to medicines.

This makes infections harder to treat and increases the risk of severe illness and deaths. The World Health Organization has declared AMR as one of the top 10 global public health threats facing humanity.

“It is now one of the biggest pandemics in our lifetimes. In fact, it is a hidden pandemic that we don’t see. In 2019, these superbugs or drug-resistant bacteria actually killed five million people. That’s more than Covid-19 in 2020,” said Loh.

The main driver of AMR is the inappropriate or overuse of antibiotics. Loh recalled a patient who died just over a week after a successful knee replacement surgery due to an infection caused by a superbug.

“Today, it’s not just affecting one individual. It’s becoming a huge pandemic. At IHH, we will take leadership on this topic. We will drive [initiatives] across the group with what we call our Antimicrobial Stewardship Programme to promote the responsible use of antibiotics,” said Loh.

Source: TheEdge - 21 Sep 2022

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