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