The Process Revolution -
Advancements in
Healthcare Contracting

In healthcare, successful contract lifecycle management
means centralizing, standardizing, and optimizing data and processes.

 

A white paper by:

Kimberly Hartsfield
Chief Data Officer, TractManager

Patrick Flynn
Chief Product Officer, TractManager

Jeremy Clark
General Counsel, TractManager

As part of TractManager’s ongoing commitment to innovative thinking in contract lifecycle management, provider management, and strategic sourcing, this white paper describes how a methodical, integrated approach to managing contracts and contract data can help health systems uncover valuable insights from their agreements.
To learn more about how TractManager can partner with your facility to reach financial, compliance, and patient care goals, visit www.tractmanager.com today.
The Process Revolution—Advancements in Healthcare Contracting
Abstract:

Contracts store some of a health system’s most valuable information. While the basic terms and conditions they contain are carefully designed and negotiated, contracts can subsequently remain locked away, whether in paper or digital form. Like hidden gems, they must be mined to extract their maximum business value.

Traditionally, contract management tools have been designed to support the demands of a high-volume purchasing department, where the primary output is a purchase order. As a result, these tools have focused on serving the needs of the department’s enterprise resource planning (“ERP”) system and delivering value in terms of dollars and cents.

But in an industry as heavily regulated as healthcare, an emphasis on compliance in contracting takes on new importance.