Healthcare Contract Management

Written by Kimberly Clark
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Just about every purchase that healthcare providers like hospitals, physicians and dentists make is made from pre-negotiated contracts. These prearranged agreements generally exist between the providers and either the manufacturer or distributor of the wares. Thus to make sure they are continually getting the best price from their suppliers, the provider's purchasing department must maintain and constantly monitor mounds of paper contracts.

In an effort to remain profitable, many healthcare providers are looking for healthcare contract management solutions. This should essentially be something that will assist them in coordinating their supply chain agreements more efficiently. Many providers have discovered that healthcare contract management software and web-based products can greatly assist them reducing their hefty paper load.

These products can be used as a centralized repository for storing all their contractual information. And with all their agreements in a central location, the healthcare provider is better able to identify lost revenue and contracts that may need to be renegotiated. Plus, by being able to view a wide array of supply information on the Internet, the healthcare provider is instantly able to globally negotiate the best price for their supplies.

Managing Payer Contracts

Healthcare providers can also use healthcare contract management products to manage their agreements with payer companies. Payer companies are those that are responsible for reimbursing the providers for their services. Examples of payer companies are healthcare plans, health maintenance organizations and insurance companies.

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