Let’s face it. Healthcare payer reimbursement and contractual agreements aren’t typically associated with simplicity. The time spent manually sorting through contracts, updating agreements, and sharing essential documentation among stakeholders can bog down even the most ambitious and committed provider networks.
But as healthcare reaches new levels of care options, managing contracts and service agreements with providers grow more complex. The pressure on payers to keep up the pace in contract analysis is stronger than ever. And the need for an automated system that simplifies time-consuming tasks while it filters and analyzes essential contracts and agreements while simultaneously managing large volumes of information is now.
Using a system that analyzes and effectively organizes the complexities and sheer volume of tasks associated with contract generation and management is essential for a growing and evolving industry. And an automated, AI-based digital platform that allows secure access to documents, streamlines repetitive tasks, and effortlessly navigates through large volumes of data is a game changer. Here’s why:
Secured/streamlined data sharing processes
Data. The healthcare industry isn’t short on data. But as the healthcare industry ramps up their infrastructures to collect, store, and analyze this personal data, the pathways they often choose to share it aren’t always secure.
Finding an email with a patient’s test results nestled between, say, an email with coupon codes for a weekend flash sale on jeans and the latest pharma newsletter carries with it some concerning optics on security. Convenient, yes! But is it secure? A recent study published in the HIPPA Journal found that around 50 million records were compromised in healthcare data breaches in 2021.
A contract management system shouldn’t force users to choose between convenience and security. DocuSign CLM, the company’s flagship contract management offering, provides a centralized, accessible source of truth for enterprise level customers. Administrators can control access settings to ensure only the parties involved can access documents, and that those documents are conveniently and securely shared with stakeholders for easy updates, and stored in one location. Regardless of which existing platforms partners and stakeholders use, DocuSign CLM ensures secure interaction among systems.
Streamline repetitive tasks with consistency and accuracy
Simple, repetitive tasks can be deceiving in the amount of time they require when irregularities or unique contract clauses occur. Yet despite the volume, contract management requires not only accuracy but consistency.
Using AI technology to track, filter keywords and trends, and identify unique issues—think an outdated provider agreement or irregular language in contracts—can save your finance team potentially thousands in saved time and money.
As the demand for flawless contract reassessment and reconfiguring within a highly regulated healthcare environment escalates, the need for automated systems to do the heavy lifting is essential.
Manage high volumes with a personal touch
The solution, according to Strazewski, is for practices to build better relationships with their payers and participate in better data-gathering. This is one of the reasons why using a CLM platform that automates manual contract workflows, centralizes and monitors contract versions, controls access to these documents, and simplifies service agreement preparation and negotiations is so important.
It’s true that payers handle enormous volumes of paperwork–each with multiple types of metadata– but that doesn’t mean provider relationships should be a casualty. Being a number among millions of other documents is simply part of the process; it shouldn’t be a description of how your customers feel when doing business with you.
Investing in a CLM system that seamlessly integrates automated contract management tools does more than simplify the agreement process. It reinforces trust while delivering essential documentation in the most efficient way possible.
HLS partners can support and facilitate the overall patient care process with CLM features and automated contract management capabilities that protect sensitive information with encryption tools and authentication options that ensure those accessing documents are the correct parties. It also seamlessly updates and monitors documents to ensure accuracy, and simplify the overall contract management process.
It’s a new age for healthcare management services. As you implement a scalable digital-based system, don’t underestimate the need for better contract management. New industry expectations mean your organization needs an innovative way to seamlessly organize, update, process and share essential contract and service agreement documentation. By adding a system that streamlines processes on shared systems, automates and secures repetitive tasks, and helps your staff manage large volumes of documentation, you will optimize digital workflow capabilities for an exciting and profitable future.
Ready to optimize your provider network management with CLM? Reach out to DocuSign and Simplus today. Our team of healthcare experts is excited to accelerate your digital transformation.