Quick summary: There is no doubt that a healthcare entity needs to invest the same energy in managing vendors as it is investing in its patient and provider management.
And the most difficult part associated with that is – contract management!
What makes contract management in healthcare more difficult is the fact that a single healthcare setting has multiple vendors and each contract linked to those vendors is very time-sensitive.
So, repetitive tedious work and lots of documentation can’t be ruled out.
This is when contract management software for healthcare comes to the rescue.
It is a powerful tool that provides a reliable and efficient way to manage contracts, saving valuable time and resources.
But there is a problem with healthcare contract management software!
Its cost!
Yes, let us explain.
When you plan to acquire contract management software for healthcare, you majorly think of or are told to have just two options.
- Number 1: Custom development
- Number 2: SaaS platform
Both of these options do not deliver you value.
Here is how.
So, understand the irony.
You have multiple vendors to manage. You know you can’t do it without a technology solution.
But you can’t build your own software as it costs you very high.
And you can’t choose a SaaS platform, as it lacks value and long-term affordability.
(That’s why the bad thing about healthcare contract management software is – its cost!)
However, we have worked relentlessly in the last 2 years to end the havoc caused by the cost!
We have an ideal solution to contract management software for healthcare that is as good as a custom one but costs 70% to 80% less than it!
Why should you get excited about contract management software for healthcare?
It’s been 8+ years since we have been proactive in the healthcare industry as an IT company.
Every year, we do something epic in an attempt to solve a big problem with healthcare tech knowledge and the team we have.
This year, we chose a healthcare vendor and contract management.
We’ve built a powerful solution to end the bad thing (price) forever. Here is how.
We have a ready-to-use solution.
But what is so special about it is that – you have full freedom for customization.
In other words – if you have unique (features, branding, workflow, and compliance) requirements, you can customize the software accordingly.
This way, you’ll get the healthcare contract management software as powerful as custom but at 70% to 80% less than it.
Things that make our solution the best contract management software for healthcare
There are numerous healthcare contract management software solutions on the market today.
However, we are confident that the solution we offer boasts unparalleled functionality that sets it apart from all others.
The following are some of the important functionalities of our solution.
- It is a healthcare-specific platform – built by a healthcare IT team.
- It is HIPAA-compliant with advanced security features.
- It costs 70% to 80% less than the custom platform.
- It has no-code capabilities. So, no fixed software boundaries.
- We customize it as per your needs and branding.
- It has multi-user architecture.
The multi-layer architecture of contract management software for healthcare
Yes, from the first day, the purpose for us was not to build merely software, but a lethal ecosystem.
And we achieved it with a multi-layer architecture.
In which – there is a separate web portal for your internal and external team.
This enables you and your team members to perform and streamline all contract management-related workflows with ease.
The following is a demonstration of what we mean by multi-layer architecture of our solution.
And the best part is, all of these are interconnected, making it not software, but an ecosystem.
Top features of healthcare contract management software
Please note: Due to several features available, we have listed here some of the most unique ones.
If you are interested in all the features, you can ask for its free demo by filling up the contact form.
We will get back to you within hours only!
1. Add vendor/create vendor profile
You can manage the contracts of each vendor under each vendor’s profile.
For that, you first need to add a vendor or create a vendor profile by adding the basic information about that vendor.
You can also select the type of vendor.
2. Explore all vendors and their profiles
It is very easy to explore all the vendors and their profiles you have created.
You can also search them manually by typing just one or two first characters of their name.
The best thing about contract management software for healthcare is – the parallel browsing feature!
This enables you to explore multiple vendor profiles at the same time.
3. Contract document management
Using this feature, you can add a contract or any other document of the vendor under that particular vendor’s profile.
To do so, all you need to do is, select the vendor from the list, click on ‘Document Manager’, click on ‘Add New’, and then you can upload the document.
4. Contract expiry setup
As we discussed, healthcare contracts are time-sensitive. So, we have added a very useful feature.
You can set up the expiry date of each contract and also set up the notification you would like to receive after or before a certain date of the contract expiry.
So that, you don’t have to check the expiry date of each contract manually.
Not only this, but you can also select to whom you would like to send that expiry notification automatically.
5. Contract history tracker
With just a single click, you can know all the operations executed by the name of the person with a particular contract document.
This feature of contract management software for healthcare helps you a lot in critical situations.
6. Communication and collaboration
It might be possible that multiple team members are engaged in contract management.
So to make sure all of them are on the same page, we have added the chat feature where they can communicate and collaborate.
When anyone comments, all other associated team members receive an email notification.
And the best part is that they can reply from the email itself, which is automatically reflected here.
7. User management
As discussed, multiple team members might be engaged in contract management software for healthcare.
So, you need to give and manage access to the software to all of them.
With the user management feature, you can easily invite them to use the healthcare contract management software.
All you need to do is, select the team member from the list of all added team members.
In case you might be wondering – ‘then how to add a team member to the software?’
Well, it is easy.
From the User Management feature, you can add your team member to the database of the software.
Please note: This is one more User Management feature below that. But it deals with managing your vendors’ users with whom you have shared access to the software.
The same with our next feature – permission management.
One module for managing permissions given to your internal team and another module to manage permissions given to your vendors’ users.
8. Advanced permission management
It is very obvious that you don’t want to give full permission for the software to all of your team members.
This is when the permission management feature comes into the picture.
You can literally select each feature and decide whether to give permission for that particular feature to your team member or not.
However, following the same practice for each user is very tedious as you need to select and deselect each feature while setting up the permission for him/her.
So, we came up with a solution.
All you need to do is, select and deselect features and give that ‘group’ a ‘permission name’.
So, next time, when you want to set up permission for a user, you just need to select the ‘permission name’ from the list and automatically all the set permissions under that permission group will be given to that user.
Also, you can anytime change the permissions given to a particular team member.
9. Notification management
This is one of the best features of contract management software for healthcare.
Here – you can set SMS and email notifications with your own content.
You can set it for several events that work as triggers.
These can be any activity performed by your internal and external team members.
For example, you can set a trigger for ‘new document uploaded by the vendor’ and customize notifications for SMS and email.
And from the dashboard, you can view and manage all of those triggers and notifications.
Besides, you can also view when the last time it was updated.
10. Checklist
You can create a custom checklist for your daily, weekly, monthly and yearly checks for contract management.
For that – you just need to follow 6 simple steps as shown in the below image.
And from the dashboard, you can view and check the status of all the checklists you and your team created.
The importance of contract management software for healthcare
Let’s understand it with a typical scenario at a hospital for contract management without tech.
We repeat – this is a typical and very common scenario in every hospital – and other healthcare settings too.
A hospital has multiple vendors. Such as,
- Networking service providers
- Cloud/storage service providers
- Software service providers
- Clinical service providers (providers, labs, pharmacies, etc.)
- Medical equipment suppliers
- Office equipment suppliers
- Billing service providers
- Patient transfer service providers
With each of these vendors, a hospital might have one or more than one contract to manage.
Not only this, but these contracts are very time-sensitive.
Meaning, the hospital needs to repeatedly make sure all the contracts are up-to-date.
If not, the hospital needs to reverify, reapprove and renew all the contracts.
As if this is not enough, the healthcare contract management lifecycle itself is very complex.
Before having a finalized contract, it needs to go through several stages such as –
- Initial request
- Agreement review
- Corrections
- Approvals
- Final document storage
So, imagine a hospital having 20 vendors and 100 contracts.
How difficult it would become for it to manage and keep all the contracts up-to-date all the time.
But you can avoid all this chaos just by using healthcare contract management software.
The benefits of having contract management software for healthcare
It can provide numerous benefits to healthcare organizations, including:
The pricing structure of our solution to contract management software for healthcare
Unlike SaaS products, here, you are not going to be stuck in the loop of monthly or yearly subscriptions.
You just have to pay a one-time licensing fee.
There are no plans, packages, or add-ons in our solution to contract management software for healthcare.
Besides, you’ll gain values like –
And with that, you’ll gain values like –
- Usage rights for the lifetime
- An unlimited number of internal and external teams can use it.
- There will be no restriction on the customization too.
- Seamless integration with your preferred health tech software
- We’ll host it on your own server.
- Software with your own branding
But in case you have customization needs, we’ll charge a nominal hourly-based fee.
So the customization cost will depend on how many hours our dedicated team of IT professionals will spend on customization as per your need.
And since the base is ready, it’ll only take a few days for customization!
How to get started with our contract management solution for healthcare?
The software acquisition process is very simple.
- Fill up the contact form.
- We’ll get back to you within hours.
- Our team will give you a live demo of the product and reveal its pricing – over video call.
- We’ll directly host it on your server (in case you have no customization needs).
But if you have customization needs – you just need to tell us during the video call.
Our team will provide a customization timeline and cost estimation right away.
Then after, as per your need, our team will start customizing the existing base.
Once it is done, we’ll give you a live working demo of our solution and host it on your own server.
Top 3 FAQs on contract management software for healthcare
If your questions are not covered here, feel free to connect with us over WhatsApp or fill up the contact form.
The team (who have built this product) will help you with any query regarding the product with a live demo!
