TractManager Thanks Healthcare’s Unsung Heroes in Contracting and ComplianceDuring this month of thanks, TractManager is highlighting the behind-the-scenes work of healthcare’s contracting and compliance professionals.
Our mission at TractManager is to optimize the business of healthcare and to support those “unsung heroes” who work behind the scenes to keep healthcare organizations running smoothly. These are the folks whose tireless efforts in maintaining day-to-day operations enable clinicians to focus on what they do best: providing exceptional care to their patients.
Now, in this month of Thanksgiving, we’re taking the opportunity to celebrate these unsung heroes and to thank them for the many ways they contribute to their organizations — from the largest health systems to the community hospitals. Among them are the people who work in the contract management, legal, and compliance departments.
Contract lifecycle management is part of the lifeblood of a healthcare organization. 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, and acts as a liaison between the healthcare organization, providers, staff, and a wide variety of suppliers, by facilitating and managing contracts, negotiations, records, and ongoing monitoring.
Contracts represent the most significant business obligations your organization manages, so a smoothly functioning contract process is critical to the health of any healthcare organization. Contracts significantly impact an organization’s administrative operations and bottom line. Efficient contracting ensures that frontline providers have immediate and adequate access to the personnel, therapies, supplies, and ancillary services needed to deliver high-quality patient care.
Healthcare contracting involves more than securing the right resources at the right prices with the right contract terms. The legal and compliance teams are vital, because healthcare contracts must also comply with a myriad of federal, state, and accrediting body regulations. Penalties for noncompliance are steep, in terms of fines and reputational damage, and must be avoided.
So, while they may not make the headlines or receive any acknowledgement from patients, contract, legal, and compliance personnel are part of the foundation on which a health system’s success stories are built. By striving to get the most out of their financial resources and contracts, healthcare organizations achieve their main goal—helping patients.
That’s why our goal at TractManager is to empower these unsung heroes who make healthcare organizations run by providing them insights and technology to make smarter decisions.