Washington, D.C., June 15, 2021 – In a sign of the increasing importance healthcare organizations and investors worldwide place on promoting ethical practices in the delivery of health services, the Ethical Principles in Health Care (EPiHC) initiative has now surpassed 100 signatories.
EPiHC, launched two years ago by IFC in collaboration with the World Bank and with input from health experts worldwide, is a set of 10 concise, pragmatic and universally applicable values designed to be shared across the healthcare ecosystem, from front-line providers to top leadership. The principles aim to help formalize values, shape the behavior of healthcare providers, and strengthen trust between providers and their stakeholders.
"Healthcare providers operate in complex and ever-evolving landscapes, so for a private provider, ethical and responsible conduct is not only important for global goals, but it's also necessary for good performance and risk management," said Stephanie von Friedeburg, IFC Senior Vice President, Operations. "Increasingly, investors are placing a premium on ethical conduct, and even more so because of the strains on health systems from the COVID-19 pandemic."
EPiHC signatories—private healthcare providers, payors, investors and their respective associations—commit to the principles and decide how their organization will implement them. The principles can help organizations navigate complex situations and decision making and provide a forum for stakeholders to discuss common challenges and solutions.
As EPiHC's membership grows, so does its value as a community in which its signatories can network and learn from one another, sharing knowledge, experience, and best practices as they forge partnerships in pursuit of their common goals. Together with their subsidiaries, partners, and other associated companies, the signatories represent more than 3,400 healthcare organizations in 67 countries.
The initiative's impact will go far beyond the organizations that adopt it. The adoption of the principles by an increasing number of healthcare organizations helps raise the importance of ethical principles for the whole of the healthcare system, guiding and influencing decision-making in a way that promotes high-quality, affordable healthcare for all.
For more information on EPiHC and how to enroll as a signatory, visit epihc.org.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.