Healthcare systems around the world are facing immense challenges, and Australia is no different. They are buckling under the pressure of aging populations, unhealthy lifestyles (leading to the rise of chronic diseases), and building expectations for greater access to new technology. In addition, patients are more educated thanks to the internet, and demanding the best service – which all put pressure on healthcare and healthcare expenditure.
The Australian healthcare system needs to address these challenges, while securing better patient outcomes at lower cost. This has resulted in the introduction of various healthcare reform measures which is impacting the broader healthcare system, and the Life Sciences (pharmaceuticals and medical devices) industry.
Life Sciences organisations cannot take a ‘wait-and-see’ approach, sitting on old business models and approaches to service and profitability.
There is a real opportunity for the industry to be part of the healthcare solution, positioned as a partner in the system rather than a supplier to it.
How KPMG can help
KPMG's Life Sciences industry practice advises clients with a range of critical business and industry matters, including:
- Enterprise risk management
- R&D tax concessions and grants
- Taxation, tax planning and transfer pricing
- Mergers, acquisitions and asset disposal
- Market entry and expansion
- Pricing strategy
- Commercial and operations strategy
- Customer engagement and 'Go to Market' modelling
- Cost optimisation
- Supply chain optimisation
- Performance management
- Digital strategy and digital services
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