Solutions for Healthcare Sector
Major Risks and Challenges
- Technology and Data Security
- Absence of robust patient record systems, billing systems, accounting systems
- Insider Theft
- Hacks
- Physical theft
- Computer Fraud
- Improper Supply Chain Management
- Brand / Reputation Damage
- Inventory Management (in case of associated Pharmacy also)
- Cash Management
- Improper Procurement policies
- Revenue Leakage due to lack of robust billing and reconciliation systems
- Absence of Policies and Procedures for critical areas of operations
- Delays / defaults in registrations / compliance with laws and regulations
- Customer Service
- Account Reconciliations
- Lack of appropriate skilled specialist staff
- Skill retention, rewards and recognition
- Fraud
- Financial Reporting
- Backdating
- Misappropriation of assets (cash, inventory)
- Credit Note fraud
- Bribery and Corruption
- Multiple cash collection points, giving rise to risks of pilferage or collections not accounted
- Delays in collections
Our Solutions
- Establish Governance Structures
- Design Management Information Systems
- Provide continuous monitoring support
- Assessment of in house IA function
- Enterprise Risk Management
- Process Reviews
- Model Business Processes
- Internal audit
- Cost control & Revenue improvement
- Forensic Audits
- Inventory controls and verification
- Legal Compliance Framework
- SOP manuals
- Internal Audit Manuals
- Accounting Manuals
