What are the types of internal audits?

Internal audits can include operational audits, compliance audits, financial audits, forensic audits, IT audits, and environmental audits.

What are the key standards in internal audits?

The key standards include independence, objectivity, proficiency, quality assurance, and communication.

What is the risk-based approach in internal audits?

The risk-based approach prioritizes auditing high-risk areas within an organization to focus resources where they are needed most.

What are the 5 C's of internal audit?

The 5 C's are Control, Compliance, Cost, Consistency, and Communication, which are critical for a successful audit process.

How does an internal audit help in risk management?

Internal audits help identify and mitigate risks by ensuring that internal controls are effective and that the company complies with laws and regulations.

Revolutionizing the Health Care Sector

Today, the health care sector is progressing at a rapid pace. Moreover, health care firms are becoming more and more consumer-focused and results-driven. At the same time, pharmaceutical and biotech firms are grappling with issues such as rising costs and stiff competition. Hence, we at Felix Advisory work in coherence with leading pharma companies, dental care chains, hospitals and biotech companies, health-tech companies, Pharma Packing Companies and CTMS (Clinical Trial Material Supply / Services) Companies to address these issues by designing and implementing robust strategic plans as well as complete outsourcing of non-core function such as Finance and Accounting. Our team of experts has worked with the top players in the health care industry to create opportunities for growth through inorganic means such as M&A. With an in-depth understanding of the health care sector, our team has helped leading pharmaceutical companies to achieve their long-term goals. We provide the following services for health care companies:

Transaction Support and Fund raise

Today, hospitals and biotech companies are being merged and acquired at a rapid pace. Heath-tech companies are also disrupting the way businesses were operating. Felix is helping health care-focused companies throughout the process of M&A and Fundraise including due-diligence, valuation as well as lead advisory, and scouting for best-fit target/acquirer. From the very beginning of the process, we focus on creating a blueprint that considers a variety of different factors to ensure a smooth merger and acquisition process. We help the transacting parties in identifying different aspects of the prospective transaction that need to be resolved by them.

KPI Reporting

Understanding and monitoring different health care KPIs help pharmaceuticals and hospitals increase patient satisfaction. We have worked along with leaders in the industry to optimize performance by identifying and meeting critical KPIs such as:

Average Hospital Stay
Treatment Costs
Patient Wait Time
Patient Satisfaction

Financial Analysis and Modeling

We have conducted stringent internal audits for leading global pharmaceutical manufacturing companies. These internal audits covered all key business functions and processes. The results of these audits were used to perform critical financial analysis to monitor and predict financial growth. Our financial experts also guided and supported the firm in preparing financial models and frameworks that helped the clients to prepare appropriate financial plans and cash flow forecasts.

Risk Management

The health care sector is filled with various kinds of risks to patients, staff, and the entire firm. Hence, there is a need to set up an appropriate risk management plan in place to mitigate these risks. At Felix, we have worked with some of the best names in the industry to design and implement robust and flexible risk management plans through intensive internal audits. These plans have addressed existing and potential risks such as patient safety, statutory policies, and probable medical accidents.

Accounting and CFO

We provide Accounting, CFO, Costing / Pricing, Budgeting and MIS Services to pharma and health care companies. Our clientele includes well established leading Pharma Packaging / CTMS Listed Company as well as start-ups who are in the process of establishing themselves in the market. Along with regular accounting/book keeping activities, we focus on bringing efficiency and effectiveness in the processes.