This discussion between Stephanie Haywood and David Paschall revolves around the pivotal role of oversight, processes, and technology in managing healthcare contracts effectively, and highlights the intricate balance required to manage contracts effectively. Oversight, processes, and technology are the cornerstones of contract management efficiency and improvement, and with a commitment to implementing these, healthcare organizations…

Being part of the Ntracts Advisory Council has provided unexpected value for Kelly Connell. It offers a platform for sharing insights, best practices, and real-world integration of Ntracts into existing processes. Members discuss challenges and collaborate with Ntracts to find solutions, making it a valuable experience that surpasses initial expectations.

Derek Empie finds that being a part of the NAC offers significant value through connections with fellow attorneys and contract management leaders. Members benefit from mutual learning and serving as sounding boards for each other. The NAC’s unique, friendly atmosphere fosters strong friendships, creating a sense of belonging and making the experience enjoyable.

Membership in the Ntracts Advisory Council offers Nancy Ardell the opportunity to connect with like-minded individuals dedicated to enhancing contract management and healthcare IT for departmental optimization. It’s both enjoyable and constructive, as the open exchange of ideas among a supportive group contributes to collective improvement and shared success.

Amanda Hausmann discusses how being part of the Ntracts Advisory Council is a valuable experience. Members continuously learn from other healthcare entities, benefiting from legal experts’ insights on topics like information security and managed care contracts.

Kelly Connell describes how contract reporting has added significant value, even in its early stages. They have developed reports that track workflow, process, and tasks. These reports provide valuable information to her enterprise, including clinician contracting work and contract status from request to execution, as well as updates when positions terminate or leave the organization.

Amanda Hausmann talks about how prior to these policies, contracts were managed haphazardly across multiple hospitals. Centralizing the contracting process with experts handling negotiations and signatures, has led to a remarkable increase in appropriate contract handling, from 70% to 99%, and reducing risk at their healthcare entity.

In healthcare performance, monitoring various KPIs is essential but the primary metric is the contract lifecycle time. Amanda Hausmann describes how tracking every contract’s timeline ensures accountability and timely execution for hospitals.

Kelly Connell emphasizes the importance of effective workflow development by thoroughly considering the workflow’s purpose and intended outcomes. This involves identifying challenges, defining user roles and interactions, documentation needs, and opportunities for process improvements and software enhancements to streamline the contract execution process.

Derek Empie discusses that the primary hurdle in contract lifecycle management implementation is changing the organization’s mindset. People resist change, but effective communication about the reasons behind it, emphasizing risk assessment and financial stewardship, can foster understanding. Gaining executive leadership support is also crucial for a smoother transition.

NAC members describes what it means when you have healthcare contracting without confidence in your data.

Ntracts hosted its 2nd annual in-person NAC meeting this month with a full roster including strategic CLM discussion topics presented by each provider member, keynote speaker Wendy Rubas on contract and information management, and plenty of Chicago-themed fun.