These services are designed to support organizations across the healthcare spectrum: From policymakers, service providers and pharmaceutical companies to R&D, academia and innovative startups looking to disrupt the traditional way of doing things, KPMG offers strategic insights, technical support, and in-depth industry expertise.
Industry Overview
The healthcare sector in Cyprus is experiencing significant changes due to the implementation of the General Health System (GHS), leading to an unprecedented transformation in the wider healthcare landscape. This shift has brought about various challenges, such as addressing provider inefficiencies inherited from legacy operating models implemented in the past, the increased competition for limited GHS budgets, and the need to achieve better outcomes, safety, and patient experiences at lower costs. Additionally, the sector has been facing a slow pace of digital transformation, a crucial component for efficiency improvement, which is now gaining rapid momentum.
On a global scale, the healthcare sector is grappling with the aftermath of the pandemic, a rise in non-communicable diseases, demographic shifts including aging populations, rising costs, and supply-chain difficulties. Furthermore, there are ongoing issues related to workforce supply and well-being, economic and social inequalities, geopolitical tensions, and the impact of global economic downturns.
Healthcare solutions
From insight to impact, our industry experts can help your business progression and growth.
Besides Audit and Tax services which we provide to a wide-range of healthcare clients across Cyprus, KPMG provides a comprehensive range of services to help healthcare organizations navigate these challenges and build resilience. With extensive industry experience, KPMG's team in Cyprus offers strategic support across various areas to ensure long-term sustainability and value delivery.
KPMG in Cyprus assists organizations in modernizing their operations and governance structures, focusing on improving the provision of care services. Financial sustainability is a key area, with services aimed at optimizing finance operations, budgeting, and reimbursement mechanisms to ensure effective financial management. KPMG also supports mergers, acquisitions, divestments, and other strategic transactions to help organizations achieve their growth objectives.
In terms of organizational development, KPMG helps establish effective structures and ensures that highly qualified personnel are placed in key positions. Digital transformation is another critical focus, with services aimed at enhancing performance through technology adoption, system implementations, and business process improvements.
Environmental, social, and governance (ESG) considerations are integral to KPMG's approach, offering support for sustainability strategies, reporting, and regulatory compliance. KPMG also addresses internal audit, risk management, and compliance issues, providing recommendations to mitigate potential threats. Information security and business resilience are crucial areas where KPMG advises on security management and enhances cybersecurity maturity.
