Contract Lifecycle Management Software for Healthcare Industry

 

Why contract management is critical for successful Healthcare operations

Increased scrutiny by compliance regulations such as HIPAA (Health Insurance Portability and Accountability Act) for the healthcare industry warrant the need for well-defined operating procedures. Automated AI-based contract management software for healthcare organizations will ensure easy contract authoring.

It will generate real-time visibility into Business Associate Agreements at the clause level, and drive compliance throughout the lifecycle. A compliance and risk officer can focus on doing the right things rather than grapple with paper, image, or even MS Word-based contracts.

Manage Contracts in a Whole New Way
Focus on what matters

CLM challenges faced by Healthcare enterprises

Health care providers today must deal in a large number of varied contract types. Physician & non-physician employment agreements, vendor contracts, equipment leasing & service contracts, pharmacy & research agreements, managed care, etc., are the various types.

This industry faces major challenges, like containing costs for clients. They have to comply with evolving government regulations like HIPAA, HITECH, Stark, False Claims, and Joint Commission (JACHO). Strict privacy policies are sensitive to health, medical treatments and payments, and complex paperwork. These issues need immediate attention to stay compliant and competitive.

Find out how iContract can help Healthcare enterprises

iContract – Healthcare Contract Management Software, streamlines contracting processes in healthcare organizations. It reduces risks and designs a better compliance management framework:

  • Create and e-sign personalized Business Associate Agreements (BAAs) “hands-free”
  • Track data to ensure all compliance documents such as those for Health Insurance Portability and Accountability Act (HIPAA) are valid
  • Ensure invoice compliance for providers and practitioners to feed into balanced scorecards to reduce overcharging
  • Track milestones and ensure enforcement of penalty clauses (civil and criminal) for the BAAs in case of violation of HIPAA, False Claims Act, etc.
  • Maintain an audit trail for all the changes made to a contract
  • Establish standardized workflows with multiple reviewers and approvers, as required
  • Generate reports to increase transparency and accountability
  • Store and manage contracts and compliance documents within a searchable and secure repository

Jumpstart Your Contracting Journey

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4 Pillars of Contract Compliance

Find out how to create a strong foundation for boosting enterprise-wide contract compliance

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Designing a Robust Contracting Process
Discover how to design an efficient and future-proof contracting process for your enterprise
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5 Steps to Realizing Value from Contract Management
Minimize risks, improve efficiency and maximize value with effective Contract Lifecycle Management
 

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