KFSHRC Rolls Out New Financial And Procurement Bylaws To Boost Efficiency

King Faisal Specialist Hospital & Research Centre (KFSHRC) has introduced new Financial Bylaws and Procurement & Contracts Bylaws. These changes, effective from today, aim to streamline procurement procedures, enhance operational efficiency, reduce costs, and support financial sustainability. This move is part of KFSHRC's transformation into an independent, non-profit, government-owned organisation.

The iSupplier Portal "https://www.kfshrc.edu.sa/en/suppliers-e-services" will manage transactions between the hospital and suppliers under the new bylaws. Suppliers can submit offers and claims through this portal, ensuring faster resource acquisition at the lowest cost while maintaining high-quality standards. Existing contracts will remain unaffected until completion, with renewals subject to the new framework.

The new bylaws provide KFSHRC with greater flexibility in procurement processes through a fair and transparent system for awarding contracts to external contractors. They also strengthen relationships with partners, enhance the quality of purchased goods, improve resource allocation, and increase competitiveness among contractors under equitable conditions.

KFSHRC has been ranked first in the Middle East and Africa and 20th globally on the list of the world’s top 250 Academic Medical Centres for the second consecutive year. It is also recognised as the most valuable healthcare brand in Saudi Arabia and the Middle East according to the 2024 Brand Finance rankings. Additionally, it was ranked among the world's best 250 hospitals by Newsweek magazine in the same year.

This announcement reaffirms KFSHRC's commitment to adhering to all relevant systems and standards, ensuring a fair and consistent procurement system. This is demonstrated by its transparency in publishing all procurement-related activities via the iSupplier Portal and providing suppliers with a comprehensive guide on procurement policies and procedures.

Previously, KFSHRC notified companies interested in collaborating with the hospital via social media platforms to register on its electronic portal. These entities must complete all necessary registration requirements and attachments. They will undergo an evaluation to verify their capability and efficiency in meeting the hospital's strategic and operational needs according to relevant bylaws.

Suppliers involved in competition, direct purchase, and direct contracting are exempt from this evaluation process. The new bylaws ensure that KFSHRC maintains a fair system for awarding contracts while enhancing operational efficiency.

The implementation of these new bylaws marks a significant step towards improving procurement processes at KFSHRC. By leveraging technology through the iSupplier Portal, KFSHRC aims to achieve faster resource acquisition at lower costs without compromising on quality.

With inputs from SPA