How health tech leaders can make a valuable impact through corporate social responsibility

Taking the lead on Corporate Social Responsibility (CSR) initiatives could unlock a myriad of valuable outcomes for healthcare stakeholders. 

There’s no question that Corporate Social Responsibility (CSR) strategies have moved to the forefront of decision-makers’ minds across the enterprise sector, particularly, as we continue to make our way out of a global pandemic whereby there is a universal need for businesses to step up and give back – now, more than ever. 

Taking action on CSR initiatives across healthcare can provide short and long-term positive outcomes for the consumers of public and private health and help progress the work of associated medical teams, specialists, researchers, and their entire clinical ecosystem. 

In addition, CSR has many benefits for organisations who commit to a coherent strategy; according to Business for Good, “Customers want to see evidence that the brands they trust act in beneficial ways for the greater common good...” and that CSR “...has the power to improve business performance as a whole if you are in it for the long run.”

At a high level, there’s a two-fold approach that can be undertaken by businesses to frame their CSR plans: supporting and advocating for causes they care about and embedding giving into the core of their business. 

At Foxo, we do both. 

Our ethos centres around supporting the progression and innovation of healthcare in Australia. This idea of pushing the boundaries of what’s possible for clinical teams, research initiatives, and the patient experience weaves throughout our internal culture, our external brand, the tools we create, and the organisations we choose as partners. 

And, we know that when it comes to health tech, there are specific ways in which organisations can achieve this approach. Using the core advantages of digital tools (speed, ease of use, innovation, and enablement, to name a few) to contribute to positive change across healthcare is where businesses can apply their software, infrastructure, and/or applications to a broader cause. 

With that in mind, we discuss how the Foxo team takes on CSR activities to create a highly valuable impact for ecosystems of healthcare stakeholders – and how and why other health tech leaders should do the same. 

• Help fund life-changing regional healthcare

Connecting and supporting regional emergency response teams within a wider cause is one-way health tech organisations can directly help those working on the ground. Médecins Sans Frontières (Doctors without Borders) is perhaps one of the most well-recognised global aid organisations. The work of their globally dispersed teams has led to huge efforts in improving emergency response, humanitarian aid, and medical treatment in more than 70 countries. This has included sending 3.5 metric tons of medical protective equipment to Wuhan Jinyintan Hospital as first responders of Coronavirus relief. 

Foxo donates one dollar to Médecins Sans Frontières for every Enterprise user that joins our platform to continue this life-saving work.

• Inspire action at the government level

Often, it takes committing to a movement at a governmental level, and aligning with authoritative industry bodies, to drive change from a CSR perspective. With digital transformation a current point of discussion for many sectors, health tech can play a key role in inspiring action for social and economic impact. 

Through the Advance Queensland initiative, Foxo was chosen to be part of a network of businesses that work alongside the Queensland Government to progress innovation across the state and drive the economy forward. By contributing to a rapidly evolving global innovation ecosystem, Foxo is helping to support the diversification of our economy, job creation, and employment across Queensland.

• Further healthcare education

Education is at the centre of healthcare advancement and encompasses everything from gaining comprehensive training to having accessible resources to share knowledge across the industry. Radiopaedia is an open-edit radiology resource with a mission to create the greatest educational reference for the discipline the world has ever seen. Most importantly, it is and will always be available for free for all. 

Foxo supports and sponsors Radiopaedia to help keep their world-class content free and improve their website and infrastructure. 

• Improve clinical outcomes for patients

Some of the most purposeful CSR activities health tech businesses can undertake are those that directly positively affect the outcomes of patients. Providing technology that helps to improve treatment and results for the critically ill can be hugely rewarding. 

This is why Foxo is a proud supporter of the Critical Care Research Group (CCRG) in its Covid-19 Critical Care Consortium, a global alliance of clinicians and scientists committed to using groundbreaking technology to identify the most effective treatments for the most critically ill patients in the COVID-19 pandemic.

When it comes to operating progressive digital technology applications and software, health tech businesses can choose to lead at the forefront of CSR initiatives. To learn more about Foxo’s mission to support valuable health organisations globally, or to talk to us about working alongside us, contact our friendly team: https://foxo.com/contact