KPMG unveils Saudi healthcare financing study

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Updated 24 October 2024
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KPMG unveils Saudi healthcare financing study

KPMG released its latest research paper “The value of one riyal: Understanding healthcare financing in Saudi Arabia,” at this year’s Global Health Exhibition. The report, published on the sidelines of the conference with KPMG’s participation as exhibitor, delves deep into the Kingdom’s healthcare financing structure, providing a detailed analysis of current expenditure patterns, future sustainability challenges, and innovative financial models that could transform the sector.

The report reveals that Saudi Arabia’s healthcare spending has grown significantly, from SR22.8 billion ($6.07 billion) in 2007 to SR79.8 billion in 2021, driven by an aging population, the rise of chronic diseases, and rapid technological advancements.
The report highlights the importance of adopting value-based healthcare as a critical strategy for reducing unnecessary costs and improving patient outcomes. VBHC focuses on tying reimbursements to health outcomes, rather than the volume of services provided. By prioritizing value over quantity, this model encourages efficiency, better care coordination, and a focus on preventive measures that can reduce the long-term burden of chronic diseases such as diabetes and cardiovascular conditions.

Burhaan Khan, partner and head of healthcare at KPMG Professional Services, said: “Our research underscores the urgency of adopting innovative financial models to ensure the long-term sustainability of Saudi Arabia’s healthcare system. With rising healthcare costs, it is critical to shift toward models that prioritize value over volume and emphasize prevention and efficiency. By integrating advanced technologies and fostering public-private partnerships, we can build a resilient healthcare system that meets the evolving needs of the population.”

Another key finding from the report is the significant burden of out-of-pocket healthcare expenses, which account for 14 percent of total healthcare spending in the Kingdom. Of these expenses, 53 percent are directed toward medications, with another 14 percent spent on physician visits. This data points to the need for expanding insurance coverage and managing pharmaceutical costs more effectively to reduce the financial strain on households. KPMG’s findings call for greater efforts to broaden access to affordable healthcare, particularly for lower-income groups and those managing chronic conditions.

In terms of preventive care, the report highlights its enormous potential for cost savings. Every riyal invested in preventive healthcare — such as vaccination programs and health screenings — can yield a fivefold return by preventing the onset of costly chronic diseases.

The report also identifies technological integration, such as telemedicine and digital health solutions, as key tools for improving both efficiency and patient outcomes. These technologies not only improve access to healthcare but also enable more streamlined, data-driven decision-making, allowing healthcare providers to focus resources on the most critical areas.

Dr. Mohamed Fayek, associate director, healthcare at KPMG Professional Services, emphasized the growing importance of public-private partnerships in the healthcare sector, saying: “We forecast that increasing private sector participation could reach 65 percent by 2030. These partnerships are critical to sustaining the infrastructure and resources necessary to meet the Kingdom’s healthcare needs, while also driving economic growth. By collaborating with the private sector, the Saudi government can bring in new innovations, improve service delivery, and create new jobs in the healthcare field by 2030.”


SLS Expo 2025 propels Vision 2030 infrastructure goals

Updated 09 June 2025
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SLS Expo 2025 propels Vision 2030 infrastructure goals

The three days of Saudi Light and Sound Expo 2025 reinforced the event’s position as a central platform for advancing Saudi Arabia’s professional lighting, sound, and AV technology sector. With broad international participation and a focus on actionable business outcomes, SLS Expo continues to support the Kingdom’s Vision 2030 goals by accelerating infrastructure development and building strategic industry capabilities.

Global and regional stakeholders convened to explore new solutions and partnerships essential to Saudi Arabia’s growing live event production market. The exhibition featured 127 exhibitors from 21 countries, including Saudi Arabia, the UAE, US, China, and Italy, showcasing technologies designed for high-performance venues, immersive experiences, and large-scale productions.

Several significant agreements were signed, contributing to Saudi Arabia’s infrastructure and capability-building objectives. The MoU signing between Saudi Entertainment and Events Management Academy and IPS marked the beginning of a strategic partnership aimed at enhancing talent development in the live events sector in Saudi Arabia, aligning its goals with the Kingdom’s Vision 2030.

Additional MoUs formalized as the event progressed, reflecting the Kingdom’s broader strategy to attract global expertise, foster local skills development, and support the execution of major national projects.

At the heart of the show’s programming was the SLS Summit, supported by sponsors IPS, Shure, Procom, Venuetech, Proloab, RST, SONOS, ShowPower and Media Pro. More than 40 international speakers delivered expert-led sessions across topics including smart production, sustainable AV, immersive design, and next-generation venue infrastructure. One of the standout sessions, Stadiums 2.0, explored how integrated AV systems and architectural design are enabling a new era of live event experiences.

“What we saw at SLS Expo was not just about momentum, it was focused, results-driven engagement that’s shaping the sector’s future,” said Sarkis Kahwajian, associate vice president at dmg events. “The MoUs already confirmed, and those in development, speak to the depth of commitment across the public and private sectors.”

Hands-on features such as the Shure Wireless Workshop provided live audio professionals with opportunities to deepen their technical capabilities and engage in peer learning through practical demonstrations and real-time troubleshooting.

SLS Expo is supported by the Kingdom’s General Entertainment Authority and the Ministry of Investment of Saudi Arabia. 

The event continues to serve as a strategic business environment where government entities, technology providers, integrators, and venue operators align around a shared vision for growth.

Co-located with the Saudi Entertainment and Amusement Expo, SLS offers a complete ecosystem for live event professionals seeking to connect, collaborate and contribute to the development of Saudi Arabia’s AV and production sectors.


Riyad Bank and Mastercard join forces to empower MSMEs

Updated 08 June 2025
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Riyad Bank and Mastercard join forces to empower MSMEs

Riyad Bank and Mastercard have collaborated to provide small and medium-sized businesses in Saudi Arabia with enhanced access to funding. The two entities have introduced a unique credit card program offering micro, small, and medium-sized enterprises access to financial solutions to grow and thrive.

As part of the agreement, Riyad Bank will enable MSMEs across the Kingdom with a three-tier credit program providing greater choice and flexibility in the form of unique cards: the Mastercard NMOO Business Credit Card, Mastercard NMOO Executive Credit Card, and Mastercard NMOO World Credit Card.

Each of these unique products will offer flexible limits, supporting enterprises and entrepreneurs to take greater control of their futures. They will deliver real-time solutions that support MSMEs to help buy, operate and sell, bridging financing gaps, and providing access to funding by enabling enterprises to get approved for credit facilities, for example, for business expansion.

“As one of the largest financial institutions in the Kingdom, we are fully committed to serving as a trusted financial solutions partner to the people, businesses, and entities we support,” said Mohammed Abo Al-Naja, chief corporate banking officer, Riyad Bank. “Over the years, we have helped to drive the growth and development of Saudi Arabia’s micro, small, and medium-sized enterprises ecosystem, and today, we are more determined than ever to empower businesses to realize their potential. We are pleased to have partnered with Mastercard to launch our truly novel three-tier credit program, powering the future of MSMEs with timely access to crucial funding.”

“At a time when Saudi entrepreneurship is truly beginning to flourish, we recognize that effective partnerships and innovation are essential to empowering micro, small, and medium-sized enterprises to advance and thrive,” said Adam Jones, EVP and division president, West Arabia, Mastercard. “Our partnership with Riyad Bank was launched with this goal in mind. Together, we aim to provide MSMEs with essential access to critical lending and funding. We look forward to expanding our first-of-its-kind program to more businesses across the country and supporting them in achieving their goals.”


SAS digital twins transform manufacturing

Updated 08 June 2025
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SAS digital twins transform manufacturing

SAS is poised to help transform critical processes in the manufacturing industry with enhanced digital twins that combine SAS’ powerful AI and advanced analytics with Unreal Engine from Epic Games.

With these digital twins, manufacturers like Georgia-Pacific can experiment with new strategies in simulated digital worlds, then take the best approaches and implement them in the real world.
One of the world’s leading manufacturers of paper and wood-based building products, GP is piloting these enhanced digital twins at its Savannah River Mill, which manufactures napkins, paper towels and toilet tissue.

GP is leveraging SAS’ technology to optimize its use of automated guided vehicles and other processes.

 


New digital health platform for pilgrims

Updated 08 June 2025
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New digital health platform for pilgrims

Healthtrip, the world’s largest health travel platform, has launched Healinharam.com, a dedicated digital platform that connects international tourists, particularly pilgrims, to a trusted network of medical, wellness, and chronic care services across Makkah, Madinah, and Jeddah.

The initiative directly supports Saudi Arabia’s broader ambition to establish itself as a global hub for medical and wellness tourism, in line with Vision 2030.

It also responds to increasing demand for high-quality care services during pilgrimage as the Kingdom continues to rapidly scale its healthcare infrastructure and wellness offerings.

Through Healinharam.com, pilgrims can now book health screenings, wellness therapies, and essential treatments such as dialysis, chemotherapy, and others, at leading Saudi hospitals.


Najm showcases traffic accident response system

Updated 08 June 2025
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Najm showcases traffic accident response system

Abdullah Al-Khalaf, acting CEO of Najm for Insurance Services, announced that the company has developed an integrated digital system for its traffic accident inspection service.

This development contributes to improving the efficiency and speed of handling and responding to traffic accidents, ensuring the safety of road users, reducing traffic congestion, and supporting environmental sustainability.

This announcement came during Najm’s participation in a workshop organized by Naif Arab University for Security Sciences, titled “Mechanisms for Dealing with Road Accident Offenders Under the Influence of Drugs.”

The event was held on May 28–29, with the participation of Arab and international experts specializing in security and safety.

Al-Khalaf emphasized Najm’s role in supporting the goals of Saudi Vision 2030 through the development of a smart, digital insurance sector.