Date of Publication :17th January 2024

Abstract:In the Kingdom of Saudi Arabia, the healthcare sector has been evolving rapidly, presenting a dynamic landscape where the pursuit of financial viability intersects with the imperative of social responsibility. This study investigates the intricate relationship between profitability and social responsibility and their collective impact on achieving institutional excellence in government and private hospitals. Employing an exploratory approach, a comprehensive analysis of qualitative and quantitative data was conducted to discern the patterns and trends shaping the healthcare landscape in the context of the Saudi Arabian society.

The study reveals that while financial viability remains a crucial aspect for the sustenance and growth of hospitals, social responsibility has emerged as a key determinant in building trust and establishing long-term credibility within the community. Through a review of existing literature, combined with in-depth interviews and surveys with healthcare professionals, administrators, and patients, this research underscores the delicate balance required for hospitals to navigate the complex terrain of societal expectations while maintaining financial stability.

Furthermore, this study examines the strategies and mechanisms adopted by hospitals to harmonize profitability and social responsibility, shedding light on the pivotal role of effective governance, ethical practices, and community engagement in fostering institutional excellence. The findings underscore the significance of a holistic approach that integrates financial prudence with community-centric initiatives, thereby contributing to the overall well-being of society.

The implications of this research extend to policy formulation, strategic planning, and operational decision-making in the healthcare sector, emphasizing the need for a nuanced understanding of the interdependencies between financial performance and social obligations. By highlighting the nuanced dynamics at play, this study provides a comprehensive framework for stakeholders and policymakers to cultivate sustainable healthcare systems that prioritize both financial viability and societal welfare, ultimately fostering institutional excellence in hospitals across the Kingdom of Saudi Arabia.

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