The Importance of Contract Request Management

Contracts are the lifeblood of any organization, especially in the healthcare arena.

The Importance of Contract Request Management

Contracts are the lifeblood of any organization, especially in the healthcare arena.
 

So, how does a contract come to life? In these times of tight budgets, it’s all the more important to know which equipment and services require a contract and to take care that an organization is dealing with the optimum number of vendors and is receiving the best prices it can.

Most healthcare organizations are composed of hundreds of employees, from frontline care providers to executives. The Contract Administration team often sits in the middle of these groups, scrambling to ensure that all needs are met in the most fiscally responsible and efficient manner. Requests for new products and services can come from many directions and modalities, whether it’s a random email from a unit secretary or a rush request from the CFO.

How do we optimize this process and report on it so we can ensure that we are appropriately staffed to handle such requests? Most importantly, how do we ensure that each request is undergoing the appropriate approval process prior to consuming the precious resource that is our human capital?

MediTract CLM offers a first-in-class Contract Request Management feature that streamlines request intake, routing, approval, and tracking. The “Requestor” role makes it easy to grant restricted self-service access to your entire organization using an approved email domain list to ensure Requestor accounts are granted only to those you have predesignated as approved. These Requestors have very limited system access and cannot search for contracts or initiate workflows; they can simply request a new product or service and track the status of that request.

In addition, the Requestor can communicate seamlessly back and forth with your Contract Administration team to provide additional information and even upload attachments to validate the need or demonstrate a preapproval from a department head or supervisor.

The Request Management feature has been incorporated into our innovative offering to allow ease of reporting on the types of requests being received, approved, and/or declined. The feature also provides a window into which workflows and contracts originated from requests, and it keeps track of which individuals submitted the requests. 

Stop chasing emails, instant messages, and other asynchronous request processes, and bring the full lifecycle of all of your contracts into plain sight. Operational efficiency and increased savings start with complete transparency, and that is what MediTract CLM provides.

For more information on our contract lifecycle management solution, read our white paper titled “The Process Revolution – Advancements in Healthcare Contracting.”

Author:

Brooke Brown, RN, BSN

Senior Director, Product Management

Brooke Brown joined TractManager’s Contract Management division in 2017

 

Interested in Better Margins and Better Healthcare Compliance?

Learn why the nation’s top health systems choose TractManager for contract lifecycle management.

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