Recognition demonstrates Vizient’s commitment to ethical business standards and practices
IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc., the largest member-owned health care company in the country, has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as a 2016 World’s Most Ethical Company®.
This year marks the tenth anniversary of Ethisphere and the World’s Most Ethical Company designation, which recognizes those companies who align principle with action, work tirelessly to make trust part of their corporate DNA, and in doing so, shape future industry standards by introducing tomorrow’s best practices today.
This is the first time Vizient has been recognized and is one of only two companies in the Business Services category, underscoring their commitment to leading ethical business standards and practices. Vizient was formed in 2015 with the merger of VHA, Novation and University HealthSystem Consortium. Novation was a four-year honoree (2012-2015) on the World’s Most Ethical Companies list and twice received the Ethisphere Institute’s two-year Ethics Inside Certification, once in 2012 and again in 2014.
“Vizient is honored to receive this coveted designation in our first year as a merged organization. The unwavering commitment to ethical business standards and practices that earned Novation previous designations by the Ethisphere Institute are core components of Vizient’s cultural foundation,” said Curt Nonomaque, president and chief executive officer of Vizient. "This foundation not only serves us well internally, but also it fosters trust and accountability with the members we serve.”
"Companies rely on Ethisphere to continually raise and measure the standards of corporate behavior. Those that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage," explained Ethisphere’s Chief Executive Officer, Timothy Erblich. "Congratulations to everyone at Vizient for being recognized as a World's Most Ethical Company."
Methodology and Scoring
The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient™ (EQ) framework developed over years of research and vetted and refined by the expert advice from Ethisphere’s World’s Most Ethical Company Methodology Advisory Panel. The EQ offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%), and provided to all companies who participate in the process.
The full list of the 2016 World's Most Ethical Companies can be found at http://worldsmostethicalcompanies.ethisphere.com/honorees/.
Best practices and insights from the 2016 honorees will be released in the form of a white paper and infographics over the next few months (download the 2015 insights). Organizations interested in how they compare to the World’s Most Ethical Companies are invited to participate in the Ethics Quotient.
About Vizient, Inc.
Vizient, Inc., the largest member-owned health care company in the country, is dedicated to serving members and customers through innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents almost $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as the recently acquired MedAssets’ Spend and Clinical Resource Management (SCM) segment, which includes Sg2. In 2016, Vizient received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere magazine. More information about Ethisphere can be found at: http://ethisphere.com.