The healthcare industry has evolved significantly in tandem with global trends and developments, leading to an expansion in its range of services and delivery channels, e.g. telehealth, as it seeks to meet the rising demand due to increasing chronic diseases and new virus strains.
In Singapore, the healthcare sector’s growth is spurred predominantly by an ageing population, with recent years also seeing a budding medical tourism market due to increasing affluence of regional economies. To cope with these demands with limited resources, the use of technologies, be it in the methods employed to administer healthcare or within internal processes, have resulted in deepening complexity in how such organisations are being structured.
IIA Singapore organised a roundtable discussion on 2 August 2019 to talk more about the internal auditor’s role in supporting a sustainable healthcare ecosystem. The discussion was chaired by Ms Jennifer Ong, Director of Group Internal Audit at MOH Holdings, and co-chaired by Ms Karen Brady, Corporate Vice President of Audit and Chief Compliance Officer for Baptist Health South Florida, and Immediate Past Chair, IIA North American Board. Representing the Institute was our Vice President, Mr Koh Chin Beng. Nine internal audit practitioners from MOH Holdings and Raffles Medical Group and Dr Gerard Ee, Audit and Risk Committee Chairman of MOH Holdings participated in the robust discussions.
During the session, there were broad discussions ranging from how the healthcare landscape has progressed to risks impacting the sector to challenges and opportunities that internal audit practitioners within this sector face. Our participants also had the opportunity to learn more about the practices and challenges of the healthcare system in the United States from Ms Brady who spoke at our Global Internal Audit Leadership Summit on 1 August 2019. Ms Brady has been with Baptist Health for more than 25 years, and is the largest healthcare organisation in South Florida, including 11 hospitals, more than 50 outpatient facilities, 40 physician practices and more than 25,000 employees.
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