Abstract
Governance in a government hospital setup is complicated due to its economic and financial dimensions but also incorporates societal responsibility. The current study focuses on the processes and procedures as the key factor of corporate governance. This paper presents evidence of a comprehensive range of procedures related to governing healthcare quality undertaken at the corporate governance level. The study explores the viewpoint of the stakeholders including patients, doctors, and the management. The aim of the study is to identify indicators of effective governance in an emerging country like India where the state regulates the health system. For this purpose, three major hospitals of Delhi – AIIMS, Safdarjung, and Ram Manohar Lohia hospitals – were studied. The response of 582 respondents was analyzed using logit regression. The study documents the comfort level of patients with the doctor, the ability of the doctors to address the concern of patience, registration time in the hospital, and easy availability of the medicine improves the corporate governance of the hospital. The main contribution of the research is analyzing the health care system in an emerging market like India which is characterized by the complexity of interaction between the environment and policies related to health care.
Highlights
The multifaceted dimension of today’s business organization has led to an unprecedented focus on corporate governance in business
The study documents the comfort level of patients with the doctor, the ability of the doctors to address the concern of patience, registration time in the hospital, and easy availability of the medicine improves the corporate governance of the hospital
The governance indicators used in Models 2 and 3 are comfort level of the patient with the doctor, addressing of the concern by the doctor, registration time taken in the hospital, availability of the medicine, and individuals’ characteristic of the respondents
Summary
The multifaceted dimension of today’s business organization has led to an unprecedented focus on corporate governance in business. Corporate governance encompasses the system, processes, relation, and mechanism through which an institution is controlled. It synchronizes corporate performance along with the interest of its stakeholders like customers, management, employees’ government, etc. The framework of such policies ensures that the interests of various stakeholders are taken into consideration. Page (2005) outlines the importance of corporate governance in harmonizing the business interest of the stakeholders and upholding a transparent environment where stakeholder contributes to the organization growth and value creation. Good cooperate governance upholds operational efficiency along with the ideologies of transparency, integrity, ethics, and honesty
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