-
Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
-
Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
-
Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
-
Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
-
Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
-
Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
-
Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
-
Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
-
Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
-
IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
-
Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
-
Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
-
Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
-
Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
-
Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
-
Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
-
Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
-
Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
-
Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
-
GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
-
International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
-
Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
-
Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
-
Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
-
Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
-
Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
-
Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
-
Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
-
Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
-
Cloud services
Leverage the cloud to keep your data safe, operate more efficiently, reduce costs and create a better experience for your employees and clients.
-
Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
-
IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
-
IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
-
Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
-
PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
-
Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
-
Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
-
Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
-
Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
-
Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
The healthcare sector is still experimenting with using big data but, as Anne McGeorge the national managing partner of healthcare at Grant Thornton US shares, it already has plenty to teach us about the benefits and challenges of big data analytics.
Healthcare providers have been collating big data long before we even knew it existed. Today, in certain controlled environments, technology allows for vast databases of detailed medical records to be digitised and analysed on a scale large enough to detect patterns invisible to the human eye.
At the same time, the healthcare sector is undergoing a fundamental cultural shift in which healthcare providers are paid for ensuring patients remain healthy rather than for a particular treatment or procedure. Big data analytics can help providers make this transition from a fee-for-service model to a value-based model.
However in making the transition, healthcare providers are encountering some important challenges: how do we organise the data we have, and how do we make impactful use of it? How do we collect and store highly sensitive data securely while making it available for data analytics? How do we make databases from different but related institutions talk to each other? And how is data in that federated environment managed and distributed effectively so that every data user has the same experience?
These are questions that the leaders of every business in every sector need to ask themselves before embarking on the big data journey.
A values-based approach
Healthcare systems around the world face multiple challenges: caring for aging populations; treating rising rates of serious conditions such as heart disease, diabetes and obesity; and increasing patient expectations and standards of accountability. This, twinned with dwindling public funds to pay for healthcare, is persuading policymakers to move towards a values-based approach to providing healthcare.
In the US, for example, where the federal government’s Medicare programme funds health insurance payments for the elderly and selected younger people, more than 50% of insurance payments for the over-65s must be paid this way by 2020. In 2009 the UK government introduced an initiative called Commissioning for Quality and Innovation, which allows 2.5% of the cost of hospital treatment to be held back, contingent on outcomes.
These types of reform are already driving efforts to use big data to understand the true health of patient populations and to make appropriate recommendations that keep people healthy.
However, big data analytics can play a much bigger part. For example, it can help detect early warning signs in a flu outbreak by understanding the underlying causes and therefore treat affected patients more efficiently. It can also help government healthcare systems and healthcare insurers discover insights that lead to more effective and financially sustainable treatments. For example, by understanding the underlying genetic causes of diseases, existing drugs can be repurposed to treat those illnesses.
Paying for outcomes
Alongside what providers are paid for, how they are paid also has an impact on the case for big data.
Many governments and insurers have moved towards a system where a single payment is offered for a full care cycle of acute medical conditions, or for a defined period of overall care for chronic conditions. In Sweden, the Stockholm authorities have been using this approach for hip and knee replacements since 2009; in Germany, such payments are offered for hospital inpatient care. It’s an approach that’s encouraging providers to be more efficient and collaborative in the way they deliver healthcare. Big data can help that collaboration.
For example, if healthcare providers can gather data about the treatment of a given condition across multiple institutions they can also identify common factors in efficient and cost effective instances. Sharing that data across the sector can help to reduce ‘clinical variation’ – instances of the same treatment leading to different outcomes.
Taking a longer-term view, big data can help providers understand if certain treatments or procedures really lead to improved patient welfare down the line. If they don’t, providers could save costs by not carrying out unnecessary procedures.
Cyber-risks
A global push towards electronic medical records systems will create the big data that enables these types of collaborations to take place. But storing data electronically comes with risks. Cyber-crime and the threat to patient privacy is the top concern of hospital CEOs right now. In the US alone, 113 million medical records were hacked in 2015 and 3.5 million were breached in the first quarter of this year, according to government figures.
Data security isn’t the only issue that can undermine the public’s trust in having their personal data collected and stored. The lack of regulation governing how this data can be used is also a challenge and can have the add-on effect of people choosing not to share their data in the first place. This threatens the potential promise of data-derived innovation and makes large datasets more difficult to manage, increasing the chances of a data breach.
Electronic medical records are just one of hundreds of IT systems in the healthcare sector that will need to be interoperable – that is, be able to ‘talk’ to each other – if big data is to be used to its full potential. Data breaches could occur at every point of connectivity, which is why providers need to audit their systems to ensure they are secure and ensure there are safeguards at any points of weakness.
In addition, providers should have a well-thought-out plan they can implement in the event of a data breach. That’s tougher in healthcare than in other sectors because, as one hospital CEO told me: “You cannot shut down the clinical systems or people will die.”
Providers need to understand what types of breaches might occur, as well as the operational and IT implications of those breaches – principles that apply in other sectors. For example, which systems can and cannot be shut down? What are the legal implications to consider; not easy in a world where technological advances are outpacing the governance and legal frameworks, especially when it is unclear who 'owns' the data? Most healthcare providers haven’t thought through all these questions yet and so dealing with cyber-crime becomes very reactive. Although some are starting to take a more planned and organised approach.
Private-sector opportunities
Despite the risks, the potential of big data to improve healthcare provision can’t be ignored. The challenge is finding the resources to exploit that potential. For public healthcare providers who are accountable for how they spend taxpayers’ money, that might not be an option, which leaves a space for private-sector providers to step in and offer this service.
Many big healthcare insurers are trialling big data, including Swiss Re, Zurich and several US-based insurers. They are using technology such as IBM's Watson which analyses vast amounts of unstructured data to answer particular questions, extract key information or reveal data insights to improve patient outcomes. Over the next few years, we are likely to see some private companies take a lead in this field, making a name for themselves by gathering and mining public/private healthcare data for beneficial patient and provider outcomes. Strong data governance systems in the private sector will also give rise to interoperability challenges that will need to be addressed.
Open data initiatives could provide another route to harnessing the benefits of big data. In the UK, the government-funded 100,000 Genomes Project has opened the genetic data of 100,000 patients up to public and private sectors organisations to help sequence 100,000 genomes by 2017. The project hopes to enable the UK to make strides in the genomics field, leading to a host of benefits such as earlier and more precise diagnosis, faster clinical trials for new drugs and treatments and, ultimately, new cures.
Embarking on the big data journey can be daunting but healthcare providers will need to get on board. As the sector moves towards a values-based rewards system, public and private providers that leverage big data and share it across the care-delivery ecosystem will be able to offer more efficient and effective treatment.
The healthcare industry can be a leader for what could happen in other sectors too. Yes, big data has its challenges: security, governance and interoperability, to name a few – but it also has multiple benefits that, ultimately, will lead to deeper insights and improved outcomes, performance and growth. Not to mention healthier communities.