REIMAGINING
HEALTHCARE
I n t e g r a t e d A n n u a l R e p o r t 2 0 2 3
Section One | |||
KPJ Healthcare Berhad | |||
Our Value Proposition | Leadership Statements | Our Value Story | |
www.kpjhealth.com.my | |||
VISION
The Preferred Healthcare Provider
Since 1981, we have been committed to delivering excellent clinical outcomes, maintaining high quality and safety standards from our experienced specialists and team; as the trusted healthcare partner in every step of our patient journey. Our promise is to go above and beyond, by embracing cutting edge technology as an enabler to further enhance our delivery of care for the wellbeing and peace of mind of every patient and their family.
MISSION
Deliver Quality Healthcare Services
Our mission is to provide accessibility to quality healthcare services for the people and communities we serve, focusing on clinical excellence and innovative technology for superior patient outcomes and customer experience.
OUR CORE VALUES
We are guided by our five Core Values which underpin our dedication to 'Care for Life'. It is through these five Core Values, we deliver and grow KPJ Healthcare's compassionate patient- centric healthcare services.
Ensuring Safety
Delivering Service with Courtesy
Performing Duties with Integrity
Exercising Professionalism at All Times
Striving for Continuous Improvement
Our Performance Review | Governance |
WHAT'S INSIDE THIS REPORT
2 Basis of This Report
Sec 01 | Our Value Proposition |
- We Are Reimagining Healthcare
- At A Glance
- Awards & Recognition in 2023
- What We Do
- Patient-CentricCare
- Our Value Creation
- Our Approach to Sustainability
- Corporate Structure
Sec 02 Leadership Statements
24 Chairman's Statement
- President & Managing Director's Review
- Chief Financial Officer's Review
- Group Quarterly Performance
- 5-YearFinancial Performance
- Statement of Value Added
Sec 03 | Our Value Story |
- Market Landscape & Outlook
- Stakeholder Management
- Sustainability Materiality
- Managing Key Risks & Opportunities
- Our Value Outcomes
Sec 04 Our Performance Review
82 Hospital Operations
- Ambulatory Care and Wellness
- Ancillary Services
- Education
- Health Tourism
Sec 05 | Governance |
- Corporate Information
- Company Secretary
- Who Governs Us
121 Senior Management Team
- Corporate Governance Overview Statement
- Audit Committee Report
- Statement on Risk Management and Internal Control
167 Group Medical Advisory & Clinical Governance Committee Report
182 Compliance Information
Sec 06 Financial Statements
Sec 07 | Appendices |
307 Shareholdings Statistics
- List of KPJ Healthcare Top 10 Properties
- Group Network and Directory
Financial Statements | Appendices |
REIMAGINING HEALTHCARE:
Tomorrow's Care
Empowered Today
As we unveil our Annual Report for FY2023, we invite you to embark on a transformative journey with us. KPJ Healthcare upholds our stance as a healthcare advocate and an enthusiast of modernisation and innovation. Our cover encapsulates the essence of 'Reimagining Healthcare' under the warm embrace our philosophy, of 'Care for Life'. As we set the foundation to shape the future of healthcare.
In this digital age, we are committed to future-proofing healthcare while ensuring that our patients and customers remain at the heart of every decision and innovation. Whether you're at the beginning, middle, or later stages of life, KPJ Healthcare welcomes you on this exciting journey towards a healthier tomorrow.
Inspired by today, excited for tomorrow, and caring for forever, KPJ Healthcare stands ready to redefine healthcare, one compassionate step at a time. Join us as we transform possibilities into realities and continue to nurture a legacy of care that lasts a lifetime.
Scan this QR Code to download our Integrated
Annual Report 2023
or
Log on to https://kpj.listedcompany.com/ar.html
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in this report. | information. |
Integrated Annual Report 2023 | 1 |
Section One | |||
KPJ Healthcare Berhad | |||
Our Value Proposition | Leadership Statements | Our Value Story | |
www.kpjhealth.com.my | |||
BASIS OF THIS REPORT
KPJ Healthcare Berhad ("KPJ Healthcare" or the "Group") is pleased to present our Integrated Annual Report 2023. In our sixth edition, we continue to present a comprehensive and inclusive overview of the Group's strategies, operations, and accomplishments, underscoring our steadfast dedication to delivering value to our stakeholders.
We uphold our vision of being the preferred healthcare provider to our patients and customers by focusing on our commitment in delivering exceptional healthcare. Guided by our 'Care for Life' philosophy, our unwavering commitment to supporting patients throughout their healthcare journeys, consistently results in exceptional patient experiences and fosters a loyal customer base. By deploying essential resources and strategic initiatives, we lay the foundation for a sustainable business model that generates enduring positive impacts for our stakeholders.
REPORTING SCOPE AND BOUNDARY
This Integrated Annual Report is incorporated with both our financial and non-financial activities for the period of 1 January to 31 December 2023. We continue practising transparency throughout this Report as we inform our stakeholders on our advancements in strategy implementation and methodology in addressing challenges, risks and opportunities that have substantially impacted our capacity to generate value.
All of the Group's and subsidiaries' operating activities are captured in this Report. It is important to highlight that approximately 98% of the Group's revenue is attributed to our operations in Malaysia. As a result, the majority of our report findings are centred around these operations and their associated activities.
REPORTING FRAMEWORKS
This Report is aligned with the Value Reporting Foundation's (formerly known as the International Integrated Reporting Council) Integrated Reporting Framework. The Framework serves as a principle-driven,multi-capital framework designed to expedite the global adoption of integrated reporting. Additionally, our reporting complies with the revised Malaysian Code on Corporate Governance (MCCG) introduced in April 2021, the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Securities), the Companies Act (CA), as well as the International Financial Reporting Standards (IFRS) and Malaysian Financial Reporting Standards (MFRS).The sustainability scope presented in this Report adheres to the Global Reporting Initiative (GRI) Standard and is in close accordance with Bursa Malaysia's Sustainability Reporting Guide (3rd Edition). This is to ensure that we meet Bursa's sustainability requirements within the MMLR and FTSE4Good Bursa Malaysia Index criteria. This also marks our second reporting year on the quality of our healthcare, following the Sustainability Accounting Standards Board (SASB) reporting standards specifically tailored to the healthcare sector. These standards aim to provide insights into the quality of our healthcare services and customer satisfaction, both of which can significantly impact our financial performance. Furthermore, we maintain our dedication to the United Nations Sustainable Development Goals (UN SDGs), which are comprehensively addressed within this Report.
2 Integrated Annual Report 2023
Our Performance Review | Governance | Financial Statements | Appendices |
BASIS OF THIS REPORT
FORWARD-LOOKING STATEMENTS
This Integrated Annual Report includes forward-looking statements regarding the business. These words include "might," "forecast," "anticipate,""project,""may,""believe,""predict,""expect,""continue,""will,""estimate,""target," and similar expressions. Additionally, this Report may include forecasts of the Group's future direction, strategies, and growth opportunities. These projections are not to be construed as an assurance of our operational performance or financial outcomes, given the uncertainties and risks inherent in our ever-changing business environment.
NAVIGATION ICONS
Our Value Creation initiatives are associated with our Six Capitals and Five Strategic Pillars, which are represented by the following icons, used consistently throughout this Integrated Annual Report:
Our Six Capitals | Five Strategic Pillars | ||||
Financial | Intellectual | AO | Asset Optimisation | R | Rebranding |
Manufactured | Social and | NGS | New Growth Streams | CA | Culture Activation |
Relationship | |||||
Human | Natural | DF | Digital First | ||
OUR REPORTING SUITE
For holistic representation, KPJ Healthcare's Integrated Annual Report for the financial year ended 31 December 2023 is complemented by our independent Sustainability Report 2023.
For more information on our reporting suite, visit https://www.kpjhealth.com.my.
Reporting Suite | Integrated Annual Report 2023 | Sustainability Report 2023 | ||
Disclosure | • | Management Review | • GRI Universal Standard 2021 | |
• | Corporate Governance Overview Statement | • | Bursa Malaysia's enhanced sustainability | |
• | Audit Committee Report | reporting requirements | ||
• Statement on Risk Management and Internal Control | ||||
• | Directors' Report | |||
• | Independent Auditors' Report | |||
• | Financial Statements | |||
Reporting | ||||
• | MMLR | • | GRI | |
Frameworks | • | Value Reporting Foundation's Framework | • FTSE4Good Bursa Malaysia Index | |
• MCCG | ||||
• | CA | |||
• | MFRSs | |||
• | IFRS | |||
Integrated Annual Report 2023 | 3 |
Section One | |||
KPJ Healthcare Berhad | |||
Our Value Proposition | Leadership Statements | Our Value Story | |
www.kpjhealth.com.my | |||
WE ARE
REIMAGINING
HEALTHCARE
Reimagining Healthcare: A Vision Anchored in CGC
In the midst of an ever-evolving healthcare landscape, the need for a resilient, innovative, and adaptable healthcare system is more crucial than ever. Our journey toward Reimagining Healthcare is anchored in the core principles of CGC (Competitive, Growth, Compliance), envisioning a future where technology, patient care, and the dynamics of medical tourism come together to bring about transformative change. Guided by our purpose of 'Care for Life', we are dedicated to embracing this transformative era. Through partnerships, research, and advanced solutions in education, we strive to redefine the standards of excellence in patient care. As we navigate the dynamic healthcare landscape, we are not merely bystanders but active drivers of change, fuelled by a steadfast commitment to leadership and innovation in this evolving environment.
4 Integrated Annual Report 2023
Our Performance Review | Governance |
Competitive
KPJ Healthcare thrives on competition, not to surpass others, but to continuously elevate ourselves, setting new benchmarks in healthcare excellence
Growth
Our growth trajectory is
carved with purpose, aiming for a sustainable expansion that enriches the healthcare ecosystem and fosters healthier communities
Compliance
Healthcare is a critical field, therefore our foundation is built on stringent compliance, ensuring trust and safety are never compromised
Financial Statements | Appendices |
DRIVEN BY
5 STRATEGIC PILLARS
Asset Optimisation
Efficiently harnessing our assets, we drive competitive edge and operational excellence, paving the way for sustainable healthcare innovations.
New Growth Streams
Exploring new horizons, we uncover opportunities that promise growth, ensuring KPJ Healthcare's legacy of care continues to flourish.
Digital First
Embracing a digital-first approach, we revolutionise patient care, leveraging technology to enhance accessibility, efficiency, and outcomes.
Rebranding
Our rebranding mirrors our evolution, signaling a future where healthcare and innovation converge, ensuring KPJ Healthcare remains synonymous with trust and quality.
Culture Activation
Activating a culture of compliance, innovation, and compassion, we foster an environment where excellence in healthcare thrives, guided by our core values and mission.
Integrated Annual Report 2023 | 5 |
Section One
Our Value Proposition | Leadership Statements | Our Value Story |
BY
LEVERAGING
TECHNOLOGY
Our Technological Leap towards Healthcare Advancement
KPJ Healthcare is dedicated to reimagining healthcare by leveraging on cutting-edge technology and innovation across our network of hospitals.
With a commitment to delivering Care for Life, KPJ Healthcare is at the forefront of integrating state-of-the-art medical facilities, equipment, and healthcare solutions to enhance treatment outcomes and patient experiences.
By embracing technology, we are harnessing the power of digitalisation and innovation for unparalleled patient care.
6 Integrated Annual Report 2023
Our Performance Review | Governance | Financial Statements | Appendices |
Digital-first Healthcare
KPJ Healthcare has formed a dedicated team to spearhead the implementation of the next-generation Hospital Information System (nHIS), slated for a pilot launch in the fourth quarter of 2024. Once operational, this system will streamline hospital operations and consolidate patient data, encompassing vital information such as doctor schedules, medical histories, test results, diagnoses, and billing procedures, among others.
In addition to enhancing our hospital operations, it is also crucial to strengthen our foundation in the digital space to safeguard the organisation and our stakeholders. This includes bolstering cybersecurity and implementing cloud computing solutions which is integral to securing data transfers and other digital transformation efforts.
Innovating Healthcare Delivery
Our technology-driven journey is well on its way to enhancing clinical outcomes and patient care. Our initiatives include the introduction of cutting-edge technology medical equipment such as the Elekta Versa HD Linear Accelerator (LINAC) machine at KPJ Damansara Specialist Hospital (DSH) and KPJ Ipoh Specialist Hospital. Through our dynamic collaboration with various vendors and the National University Health System (NUHS) Singapore,we will be undertaking a groundbreaking initiative that leverages mixed reality technology to enhance surgical planning, patient eduation and medical training. Marking a significant step towards advanced technology for improved healthcare delivery, we will be introducing the Microsoft HoloLens 2 at DSH2, which allows patients and doctors to visualise and interact with CT and MRI scans in three-dimensional holographic images, promoting deeper patient engagement and understanding in their healthcare decisions.
Integrating Technology in the Patient Care Continuum
KPJ Healthcare has made substantial progress in integrating digital technology across the patient care continuum. We have implemented telemedicine to expand access to care and enable virtual consultations between patients and healthcare specialist. Additionally, we have developed and launched the KPJ Cares App and embarked on a transformation journey towards smart hospital facilities,further reinforcing our commitment to leveraging digital innovation for superior patient experiences.
Integrated Annual Report 2023 | 7 |
Section One | |||
KPJ Healthcare Berhad | |||
Our Value Proposition | Leadership Statements | Our Value Story | |
www.kpjhealth.com.my | |||
WITH A
FOCUS ON
PATIENT CARE
Giving Our Patients the Care They Need
Quality patient care is a crucial element as it significantly impacts health outcomes.Top-notch patient care enhances the patient's recovery journey and positively influences their physical and mental well-being, especially for individuals grappling with serious illnesses.
Additionally, it is equally important to emphasise on patient-centric care as it actively involves the decision-making process of care and treatment for the patient and their loved ones. By exercising patient-centric care, both medical personnel and the patient's loved ones are prioritising respect for the patient's unique preferences and diverse needs.
For KPJ Healthcare, patient-centric care lies at the core of our mission, as we place patients' needs and preferences at the forefront of our healthcare delivery, embodying our Care for Life philosophy. With a commitment to professionalism, efficiency, and responsibility, KPJ Healthcare manages our specialists hospital network to ensure that every aspect of patient care is tailored to meet individual needs, resulting in the delivery of exceptional clinical and service quality.
8 Integrated Annual Report 2023
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KPJ Healthcare Bhd published this content on 02 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2024 11:52:24 UTC.