NASHVILLE, Tenn.--(BUSINESS WIRE)-- Hospital Corporation of America (NYSE:HCA), which has 164 hospitals and 106 ambulatory surgery centers in 20 states and London, England, has been recognized by the Ethisphere Institute as one of the 2011 World’s Most Ethical Companies.
This is the fifth year Ethisphere, a think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability, has published the World’s Most Ethical Companies rankings, which appear in Ethisphere Magazine’s Q1 issue. It is the second year in a row HCA has received the honor.
“This recognition from the Ethisphere Institute is particularly meaningful to all of us at HCA because it is based on the totality of our organization’s efforts and performance,” said Alan Yuspeh, HCA’s Senior Vice President and Chief Ethics and Compliance Officer. “It reflects not only an energetic ethics and compliance program, but also our dedication to patients, our support for communities we serve, our generosity of spirit in providing charity care, our focus on sustainability, and our culture of integrity.”
In addition to HCA’s long-standing, industry-leading ethics and compliance program, which has served as a model for others, several years ago the company established an improved charity care and uninsured discount policy, which has been emulated by hospitals across the country. Later, HCA became one of the first providers to make pricing estimates available to patients. In addition, HCA is active philanthropically, supporting agencies that promote health and well-being, support childhood and youth development and foster the arts in Middle Tennessee. Through the HCA Foundation, the company has awarded grants totaling $83.5 million since 2006.
HCA is also committed to becoming a leader in environmental practices among healthcare companies through more efficient use of energy and water, purchasing environmentally preferable products, using environmentally-friendly building materials and improving recycling and waste disposal efforts. HCA is a member of Practice Greenhealth and a charter member of the Healthier Hospitals Initiative, two organizations that promote eco-friendly practices in healthcare.
“As companies strive to maintain a competitive advantage, good ethics translate into better business, and better business means better bottom lines. HCA recognizes the important role that principled practices play in brand reputation, which ultimately is the most valuable asset for a corporation,” said Alex Brigham, Executive Director of the Ethisphere Institute. “Each year, the competition gets more intense for the World’s Most Ethical Companies and this year was no exception with a record number of organizations vying for this distinguished honor. Ethisphere congratulates HCA on being one of the World’s Most Ethical Companies for 2011.”
Ethisphere reviewed thousands of companies and evaluated a record number of applications utilizing its proprietary methodology through in-depth research and multi-step analysis, naming 110 companies that surpassed their industry peers to this year's World's Most Ethical Companies list. The 2011 list features companies in 38 industries including 43 companies headquartered outside the United States. For more information about the methodology and to view the complete list of the 2011 World’s Most Ethical Companies at http://ethisphere.com/worlds-most-ethical-companies-rankings/.
Cautionary Statement about Preliminary Results and Other Forward-Looking Information
This press release contains forward-looking statements. Those forward-looking statements include all statements other than those made solely with respect to historical fact. Numerous risks, uncertainties and other factors may cause actual results or performance to differ materially from those expressed or projected in any forward-looking statements. These factors include, but are not limited to, (1) the ability to recognize the benefits of the recapitalization, (2) the impact of the substantial indebtedness incurred to finance the recapitalization and distributions to stockholders and the ability to refinance such indebtedness on acceptable terms, (3) the effects related to the enactment of federal health care reform, the possible enactment of additional federal or state health care reform and possible changes to health care reform and other federal, state or local laws or regulations affecting the health care industry, (4) increases, particularly during periods of economic slowdown, in the amount and risk of collectability of uninsured accounts and deductibles and copayment amounts for insured accounts, (5) the ability to achieve operating and financial targets, and attain expected levels of patient volumes and control the costs of providing services, (6) possible changes in the Medicare, Medicaid and other state programs, including Medicaid supplemental payments pursuant to upper payment limit ("UPL") programs, that may impact reimbursements to health care providers and insurers, (7) the highly competitive nature of the health care business, (8) changes in revenue mix, including potential declines in the population covered under managed care agreements and the ability to enter into and renew managed care provider agreements on acceptable terms, (9) the efforts of insurers, health care providers and others to contain health care costs, (10) the outcome of our continuing efforts to monitor, maintain and comply with appropriate laws, regulations, policies and procedures, (11) increases in wages and the ability to attract and retain qualified management and personnel, including affiliated physicians, nurses and medical and technical support personnel, (12) the availability and terms of capital to fund the expansion of our business and improvements to our existing facilities, (13) changes in accounting practices, (14) changes in general economic conditions nationally and regionally in our markets, (15) future divestitures which may result in charges and possible impairments of long-lived assets, (16) changes in business strategy or development plans, (17) delays in receiving payments for services provided, (18) the outcome of pending and any future tax audits, appeals and litigation associated with our tax positions, (19) potential adverse impact of known and unknown government investigations, litigation and other claims that may be made against us, and (20) other risk factors described in our annual report on Form 10-K for the year ended December 31, 2010 and other filings with the Securities and Exchange Commission. Many of the factors that will determine our future performance or results are beyond our ability to control or predict. In light of the significant uncertainties inherent in the forward-looking statements contained herein, readers should not place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
All references to “Company” and “HCA” as used throughout this release refer to HCA Holdings, Inc. and its affiliates.
Hospital Corporation of America
Mark Kimbrough, 615-344-2688
Ed Fishbough, 615-344-2810
KEYWORDS: United States North America Tennessee
INDUSTRY KEYWORDS: Health Hospitals