Contracts Manager is PolicyMedical’s newest solution. This solution enhances your ability to manage your business relationships, making your entire organization work more efficiently. Contracts Manager helps you incorporate best practices into your day-to-day operations, reduce risk, and meet strategic goals, while identifying waste and lowering costs.
We sat down with PolicyMedical’s Chief Medical Officer, Dr. Sanjaya Kumar for a question and answer session about Contracts Manager.
What is Contracts Manager?
Contracts Manager is a cloud-based software that enables healthcare administrators to better manage all of the contracts that they have with their service providers and vendors. It simplifies the management of contracts and also automates the workflow surrounding them. This creates a seamless and paperless environment, allowing everything to work more efficiently.
Why add it to PolicyMedical suite of products?
From a broad perspective, PolicyMedical is a document management company. Contracts are just another type of document that need to be created, shared, distributed, and edited. The reason for bringing Contracts Manager into the suite of applications from PolicyMedical is because it complements and aligns itself nicely with the other solutions that we offer. There are many contracts associated with policies and procedures. For example, if you have policies and procedures surrounding security, you may have an associated contract with a HIPAA security advisor. When you are making that contract, you can easily link it to the associated policy with our PolicyManager solution. In addition to this, you can link the contract with any associated standards and regulations with our Standards Linkage Manager and any related education pieces in our Learning Manager. There is a lot of interplay and synergy when it comes to these solutions. All of our solutions that are available to our client base either independently or in conjunction with other solutions.
What’s the value that healthcare organizations will receive from it?
Contracts Manager has key feature sets and functionalities that really differentiate it from any other Contracts Manager application on the market. One is its seamless integration for compliance purposes, and another is it’s really in depth workflows for contract creation, review, and approval. An institution that wants to work on a contract can involve people from inside and outside their institution, with a high degree of security. Contracts Manager also has the capability to automatically identify what contracts need to be renewed, mitigating risk and increasing efficiency in your organization. In addition, there are exhaustive reporting and dashboard capabilities, providing a great deal of data to your team.
What size and type of healthcare organization would be ideal for a system like this?
This solution really applies to any organization or institution. We have made it really easy from both a deployment and usability perspective. Small to mid-size hospitals, long term care homes, or physician groups would get a great deal of value from this system. Larger institutions may already have their own home grown database, but moving to this solution creates the rich environment and synergy that is very beneficial. Hospital or long term care chains that want to have greater oversight across their organization would also benefit.
Contracts Manager simplifies the way contracts are managed, from start to finish. If you would like a demonstration of this exciting new solution, please contact us.