Hirslanden Group's Corporate Governance
Corporate governance stands for all the principles related to promoting the interests of a company in a sustainable manner. These principles target both a transparent relationship and an appropriate balance between management and supervision. Successful implementation of these principles (good corporate governance) strengthens Hirslanden Group's reputation as a law-abiding and trustworthy company.
Internal developments and external implications constantly change the framework conditions affecting the Hirslanden Private Hospital Group. Even though this provides new opportunities, it also involves new risks which must be actively managed. Hence, Hirslanden AG's risk management aims to recognise potential risks early on, assess them and take appropriate action to avert imminent damage for the organisation.
To meet this objective, Hirslanden AG's risk management process was specially designed to ensure that complementary approaches are employed in all business divisions and units (Hirslanden Group, Corporate Office and hospitals) to validate strategic, financial and operative risks and their controls. This includes reporting, group-wide surveys, risk and control inventories as well as adhoc risk reports for the attention of the company management.
The legal regulations on the existence of an internal control system, required compliances with standards such as REKOLE®, Group-wide guidelines on checking the permanent functioning of control mechanisms and other drivers are the reason for the work of Hirslanden AG's internal auditors. To this end, the internal auditors carry out risk-oriented audits independently as well as jointly with representatives of other Mediclinic platforms and the main shareholder's internal auditors on the basis of the Combined Assurance model.
The internal auditors provide independent, objective auditing and advisory services to generate added value and improve business processes, which in turn helps the organisation to achieve its goals. By establishing a systematic and targeted approach, the efficacy of the governance, risk management and internal management/control processes is assessed and significantly improved as well.
Compliance is an essential part of good corporate governance. It stands for proper compliance with legal, regulatory and internal requirements. The Compliance Department, together with all of Hirslanden Group's employees, ensures these requirements. The aim is to avoid conflicts of interest, to create transparency and to establish guiding principles in such a way that even unintended breaches of rules are avoided. Compliance also shapes Hirslanden Group's corporate culture and contributes to the Swiss healthcare system by building confidence.
As part of compliance, data protection ensures that personal data is handled responsibly. The data protection officer assists the specialist departments and hospitals in ensuring compliance with data protection, identifies gaps in the data protection and reports data protection violations to management or to the competent authority.
Legal & Company Secretariat
Legal & Company Secretariat They work closely together with the parent company Mediclinic, the clinics and all Corporate Office departments and provide support in legal matters as well as questions of corporate administration.
Legal & Company Secretariat also contributes to the continuous compliance with legal regulations and is guided by further, high corporate governance standards such as the "Swiss Code of Best Practice for Corporate Governance" of economiesuisse or anti-bribery regulations due to the stock exchange listing in London.
The core services of Legal & Company Secretariat include support for the clinics and business areas in contract reviews, legal clarifications in the event of specific problems and compliance with compliance requirements, e.g. in the area of VITH, or the coordination of legal advice by third parties.
In addition, Legal, and in particular the Company Secretariat, is responsible for organising and recording the minutes of management meetings and for the corporate and commercial law administration of the Hirslanden Private Hospital Group. This includes, among other things, the audit-proof administration and safekeeping of share certificates and the keeping of share registers/books and documents and the corresponding protocols.