Management of relationships with stakeholders in healthcare companies using a sustainability balanced scorecard

Abstract

In managing relationships with stakeholders within the medical services sector, it is imperative to strike a strategic balance between addressing socio-economic challenges and safeguarding the country's environment and natural resources, all while considering stakeholder needs. Consequently, it is necessary to establish a set of indicators for analyzing and managing stakeholder relationships in alignment with sustainable development objectives. The proposal entails creating a list of key indicators for each subsystem of the Sustainability Balanced Scorecard (SBCS). These indicators will serve as our compass, guiding us in assessing the degree to which strategic objectives in managing stakeholder relationships align with healthcare companies' sustainable development goals. This alignment, we believe, holds the key to a more sustainable and prosperous future for all. Causal connections between the indicators of SBCS subsystems – "Activators" – "Processes", "Processes" – "Stakeholders", "Stakeholders" – "Results" – have been established. The results of modeling the interconnections between these subsystems have allowed conclusions to be drawn regarding the existence of statistical relationships among their elements, which are pertinent to consider in developing strategies for healthcare, structuring the goals of their sustainable development, and determining the means of achieving them. Based on the analysis results, the following indicators, exhibiting the most robust mutual relations, have been identified: under the "Results" subsystem – the ratio of expenditures to revenues, cash flow coefficient, utilization level of energy-efficient resources, expenses for outfitting ecological offices and premises; within the "Stakeholders" subsystem – the percentage of satisfied patients within the total, number of executed social projects, utility expenses (electricity, water, heat) in administrative costs; within the "Processes" subsystem – the growth rate of provided medical services volume, funding ratio, proportion of non-recyclable material costs in material expenses; within the "Activators" subsystem – training and development costs per employee, coefficient of innovative growth, dynamics of eco-awareness development measures. These indicators enable the monitoring and controlling of the achievement of economic, social, and environmentally sustainable development objectives. Keywords: management, stakeholders, balanced scorecard, sustainable development, strategic objectives, strategic map.