Better way to dry it out, this works best within 3-4 hours of the incident and has saved many laptops and phones.
0- ONLY if your issue is salt water or other contaminated water your phone is already wet, rinse with soft water preferably distilled ASAP but anything is better than salt water, shake dry repeat, this removes the damaging salt as quickly as possible before it has the chance to penetrate
1-put a plate in your oven on the wire rack and set it to a very low setting say around 40-50c or 110-130f.
2-If you have a torx set open the phone and disassemble as far as possible, laptops mostly use regular screws
3-use canned air to blow out as much moisture as possible no matter if you can disassemble it or not
4-it has probably taken you at least 1/2 hour to do all of this, go feel the plate it should be hot but not burn you, if so....
5-put parts on a paper towel or wash cloth and close the oven, use turbo(blower, convection, the fan) mode if available
6-obtain the largest weapon you can find and guard the oven from everyone until you feel it has cooked for long enough probably an hour or two, no point walking away and letting your room mate preheat the oven for muffins slagging your phone. A big sign is a good idea too, what if you need a potty break. Also don't forget and go to bed, drinking or drugs to sooth the pain might cause this.
7-Pray, it cant hurt...
8- reassemble and test
Not sure how much moisture rice that has been exposed to ambient humidity will actually absorb, maybe if allowed to dry in an oven it will do a better job as the mythical mobile phone remedy.