Cleveland Clinic Named One of World's Most Ethical Companies
Ethisphere Institute Names Hospital to Exclusive List of 99 Companies Worldwide
According to a statement by Ethisphere, winners were selected for "going beyond legal minimums, introducing innovative ideas to benefit the public and forcing its competitors to follow suit by consistently upping the ante for what it takes to be an ethical leader."
Cleveland Clinic has established itself as a leader through initiatives that manage potential conflicts of interest, provide transparency on the industry relationships of physicians and researchers, and detail the performance of clinical programs through outcomes books, among others.
"Cleveland Clinic is proud to have been named one of the world's most ethical companies," said Delos M. "Toby" Cosgrove, M.D., President and CEO,
In December, 2008, Cleveland Clinic posted on its Web site (www.ClevelandClinic.org) a current directory of all its physicians, listing their educational and professional backgrounds, their medical specializations and their relationships with industry. Included for each physician, scientist and physician/scientist is a list of the names of companies with which they have collaborations.
Cleveland Clinic has a rigorous process by which it identifies, evaluates, limits, eliminates, or manages potential conflicts of interest. That process is handled by the institutions Innovation Management and Conflict of Interest Committee.
The Ethisphere Institute - which describes itself as an "international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability" - reviewed nominations from more than 10,000 companies, spanning 35 industries and over 100 countries.
Companies were graded in nine categories: corporate citizenship and responsibility; corporate governance; innovation that contributes to the public well being; industry leadership; executive leadership and tone from the top; legal, regulatory and reputation track record; and internal systems and ethics/compliance program.
"It is an honor to have been compared to thousands of companies worldwide and have been selected as one of the top 99 most ethical," said
The position of Chief Integrity Officer - which oversees internal audit, corporate compliance and coding compliance - was created in 2005 as a way to emphasize the role of proper business practices.
This is the third year Ethisphere has published the World's Most Ethical Companies rankings, which appear in Ethisphere Magazine's first quarter issue. For a complete list, visit http://ethisphere.com/wme2009/.
About the Cleveland Clinic
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SOURCE Cleveland Clinic