Contracts are hard to track, mostly when your busy schedule and your organisation are pretty busy. Hospitals and healthcare firms go through this particular issue too. When dealing with this particular problem, you need to use streamlined procedures such as contract management, policy management, educational materials and clinical order set.

Contracts are a vital part of most industries and healthcare organisations. A typical hospital or healthcare firm will have multiple contracts with various vendors, individuals and organisations. A survey that was carried out showed that approximately 10% of contracts are lost each year. When you want to avoid this, you need to have an appropriate contract management system which allows your organisation to provide the best possible care to patients, reduce operation costs, assure adherence to compliance requirements and mitigate risk. A contracts management system makes the way contacts are managed to be much easier. Visit contractSafe.com to learn more about the healthcare management policies you need to implement in your organisation.

Practices you need to implement

1. Standardise your contract procedure

Once you start to streamline, don’t stop. Continue streamlining some more. The creation and renewal of multiple contracts can be a challenging task since it involves players who are inside and outside the healthcare firm. Because of this, you need to know how you will standardise the procedure to make sure that all the necessary steps are being implemented as required. Since contracts are made and passed through healthcare organisations, they need to be submitted, mistakes must be rectified, approvals obtained, and signatures added. When you have a standardised procedure, you will be able to make sure all this has been implemented. The best tool to use is a flowchart that outlines the steps and individuals that a contract needs to pass through before being finalised.

1. Use workflow and process automation

Accountability can be created through workflow and process automation. People who come with contracts know that the process may get interrupted when a contract gets stuck in an individual’s desk or inbox. These delays may have an impact on the meeting’s deadline and may bring about a negative impact on your healthcare firm. Automated workflow makes sure this does not happen by reminding you about essential obligations, contract dates and termination dates by attaching this data to your contract in an automated system. Once this has been keyed in, the system can then send you the information in your inbox or email to remind you that obligations must be met. Contract managers always forget that deadlines have to be met because of their vendors’ deadlines too, and this practice is the best to make sure you are on schedule.

1. Come up with a database of frequently used contracts and legal clauses

You should opt for templates, and you joyfully also ask yourself, how often are various clauses used in your  healthcare department? Time can be saved by automatically populating your clauses into your contracts. Your organisation’s legal team can help you determine the type of clauses you should use and can be jotted down and put in your contracts management system. Commonly used contracts can be converted into templates and used in your contract, and you will save a lot of time. The best software to use is policy manager because it is standardised, it uses automated workflows and is linked with policies and procedures and has multiple templates too. Utilising and using these particular healthcare procedures will make implementing your contracts easier. Depending on the problems you are facing in your healthcare organisation, the police manager will help you to deal with them without wasting any time.

1. Link contracts to procedures and policies

You need to connect relevant data since contracts go hand in hand with policies and procedures. For example, if you have a technique and process that surrounds security, you may want to have a contract with a HIPPA security advisor. When you want to know that you have a relevant contract management system, you should be able to link every contract to relevant policies and procedures, coming up with seamless integration for compliance purposes. To be able to make this possible, you will need the adoption of both an electronic policy management system and an electronic contracts management system.

1. Contract intelligence tailored to healthcare payers

Contract intelligence helps you to unlock the data and information in your contracts to make better-informed decisions, build more robust business relations and adapt fast to fluctuating marketing issues. So having an Icertis contract intelligence healthcare payers is the best decision to make better decisions when trying to implement various contracts.

ConclusionWhen you have a healthcare organisation, you need to make sure you implement the practices above so that you can have accurate contracts that are sent on time and that your organisation has positive reviews from your clients.