Corruption poses a significant challenge to the global economy. It is an impediment to sustainable development, increases inequality, undermines public institutions and dampens economic growth. For companies, corruption adds to the cost of doing business, represents significant legal and reputational risks and creates unsustainable business relationships.
Corruption risks differ by industry. In the healthcare industry, maintaining ethical interactions with healthcare providers is essential to ensure that purchasing decisions are based on efficacy and quality and not on inappropriate factors. Companies, including Baxter, have a pivotal role to play in promoting sound ethics by maintaining high standards and demanding that their business partners do the same. Baxter is committed to operating with the highest integrity and ethical and legal standards.
In 2008, Baxter launched its new Code of Conduct. Available in 20 languages, it builds upon the prior code by identifying expected behaviors and explaining why compliance to each standard is important to Baxter’s business. In 2009, the company will train all of its employees globally on the Code of Conduct.
Baxter updated its Global Anticorruption Policy in 2008, which governs how the company’s employees, contractors, agents and third parties interact with government officials. The company also revised its U.S. and international policies for interactions with healthcare practitioners, medical institutions and patient organizations. Baxter conducts risk assessments covering all of its operations, and it audits and monitors performance in this area through its compliance assessments and other means.
In early 2009, Baxter launched a risk-based anticorruption education program that provides ongoing training and communication to various groups within the company to sustain awareness.
Anticorruption efforts can be impeded or enhanced by others in the industry, so Baxter is committed to establishing or improving industry codes of conduct and promoting ethical behavior across the healthcare sector. For example, Baxter is highly involved in AdvaMed and Eucomed, which are U.S.- and European-based organizations that have created industry codes of conduct governing interactions with healthcare providers. In 2009, the company will identify industry associations in Latin America and Asia Pacific to collaborate with to develop and enhance medical device or pharmaceutical industry codes of conduct.
In 2009, Baxter will evaluate how broader anticorruption initiatives such as the UN Global Compact, the World Economic Forum Partnering Against Corruption Initiative and the Organisation for Economic Co-operation and Development Principles may complement the company’s approach.
2015 GOALS
- Continue to champion internal and industrywide ethical sales and marketing practices by:
- Implementing Baxter's enhanced U.S. Healthcare Compliance Program and International Anticorruption Program within the company; and
- Working with U.S. and international trade associations, non-governmental organizations and governments to harmonize and enforce standards on financial interactions with healthcare providers that allow for appropriate education, research and dialogue on products and services and discourage improper incentives.
