Saudi Arabia’s 2030 Transformation Goals Address Many Healthcare Finance Topics

HFMA recently spoke with Ahmed Emad Al-Hamalawy, executive director, at Selat, the parent company of NAWA, about Saudi Arabia’s Healthcare Transformation 2030 goals and the critical skills necessary for success in healthcare finance and RCM fields. NAWA was the exclusive sponsor of an HFMA one-day education training at the Global Health Exhibition (GHE) in Riyadh on Oct. 31. Al-Hamalawy was one of the instructors for the education session, as well as Hefin Jones, clinical cost director, National Casemix Center of Excellence, Saudi Arabia, and HFMA’s Mary Mirabelli, senior VP of corporate strategy.

HFMA: What revenue cycle strategies and processes are most important to Saudi Arabia’s 2030 Healthcare Transformation?

Ahmed Emad Al-Hamalawy: Saudi Vision 2030 is a strategic plan initiated by the Saudi Arabian government to diversify the country’s economy and reduce its dependence on oil. In the context of healthcare, several revenue cycle strategies and processes are important for the success of Saudi Vision 2030 and its healthcare transformation goals. Here are some key areas:

• Electronic health records implementation
• Integration and interoperability
• Patient engagement and self-service
• Revenue integrity and compliance
• Data analytics and performance monitoring
• Continuous process improvement
• Training and education

By implementing these revenue cycle strategies and processes, Saudi Arabia can improve the efficiency, accuracy and financial performance of its healthcare system, contributing to a thriving economy and the ambitious goals of Saudi Vision 2030.

HFMA: What were the key revenue cycle managment topics covered during the one-day session sponsored by Selat and NAWA at GHE?

Al-Hamalawy: During this healthcare revenue cycle management one-day education session, we covered these key topics:

Introduction to revenue cycle management. This section provided an overview of the healthcare revenue cycle, its importance and the role of revenue cycle management in healthcare organizations.

Coding and documentation. This section covered medical coding systems and the importance of accurate and complete documentation for proper coding. Discussions revolved around coding guidelines, documentation requirements and the impact of coding on reimbursement.

Insurance follow-up and denials management. This segment focused on managing insurance denials and the appeals process. It covered tactics for identifying and resolving claim denials, strategies for effective follow-up with payers and techniques to minimize denials in the future.

Revenue cycle analytics and performance monitoring. This section introduced students to key performance indicators (KPIs) and metrics used in revenue cycle management.

Emerging trends and technologies: This section explored the latest trends and technologies in healthcare revenue cycle management, such as electronic health records, revenue cycle management software, artificial intelligence and automation.

Other healthcare finance topics covered by instructors during the one-day education session include value-based care, the importance of costing, and casemix and risk adjustments.

HFMA: What skills or traits do you see in some of the most promising revenue cycle professionals that you encounter in your training and consulting?

Al-Hamalawy: Based on my observations and interactions, these are some of the skills and traits commonly seen in promising revenue cycle professionals:

• Strong analytical skills
• Attention to detail
• Knowledge of regulations and compliance
• Communication and interpersonal skills
• Problem-solving abilities
• Continuous learning and adaptability
• Leadership and teamwork
• Technology proficiency

These skills and traits contribute to the success of revenue cycle professionals, enabling them to effectively manage the financial aspects of healthcare organizations and drive optimal revenue performance.

Learn more about HFMA’s special GHE discounts on international certifications.