KFSHRC Implements New Financial and Procurement and Contracts Bylaws

Riyadh: King Faisal Specialist Hospital and Research Centre (KFSHRC) has announced the commencement of the new Financial Bylaws and Procurement and Contracts Bylaws, effective from July 1, 2024. These changes aim to streamline procurement contract procedures, enhance operational efficiency, reduce costs, and contribute to financial sustainability in both the short and long term, as part of its transformation into an independent, non-profit, and government-owned organization.

With the implementation of the new bylaws, KFSHRC is activating the iSupplier Portal “https://www.kfshrc.edu.sa/en/suppliers-e-services”, through which transactions between the hospital and suppliers will be managed. This portal will enable all suppliers to submit their offers and claims, ensuring faster acquisition of required resources at the lowest cost while maintaining the highest approved quality standards. Existing contracts with suppliers will remain unaffected until completion, with renewals subject to the new legal and regulat
ory 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.

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 and entities interested in collaborating with the hospital via various social media platforms to register on the hospital’s electronic portal and complete all necessary registration requirements and attachments. These entities will undergo an evalua
tion 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.

It is noteworthy that King Faisal Specialist Hospital and Research Centre has been ranked first in the Middle East and Africa and 20th globally, in the list of the world’s top 250 Academic Medical Centres for the second consecutive year and recognized as the most valuable healthcare brand in the Kingdom and the Middle East, according to the 2024 Brand Finance rankings. Additionally in the same year, it was ranked among the world’s best 250 hospitals by Newsweek magazine.

Source: Saudi Press Agency