Fayez N. Alharbi MANAGING DIRECTOR & CEO, SELAT

What was the basis for creating Selat?

Selat was formed in 2014 in response to the medical industry’s rising demand for better revenue cycle management (RCM) to mitigate declining reimbursement, increased risk, and margin pressures. Our RCM services address industry challenges by enhancing overall operational concerns, including improving profitability, maximizing medical billing, enhancing coding, improving collection, revitalizing hospital revenue cycle performance, and improving cost effectiveness. Selat has the resources, experience, and capabilities to improve organizations’ financial health and profitability without negatively impacting the bottom line. We are a highly professional organization that utilizes industry best practices and holds professionalism and integrity as our core values. We strive to provide our customers and partners with valuable benefits and superior resources. Selat has a wide, comprehensive client base in the Saudi medical industry, with clients ranging from larger medical cities and hospitals to smaller medical complexes and optical facilities.

Who are your target customers in this new environment?

As the first and largest RCM company in the market, we have the opportunity to work with both private and public entities; however, in the last five or six months we have seen significant changes. We have been contacted by many private firms interested in upscaling their capabilities. They are facing many issues with insurance companies that want a more robust RCM system. They want to outsource these capabilities. Previously, outsourcing such activities was frowned upon in the health sector, but the culture is changing rapidly.