Contract lifecycle management has grown to be an increasingly critical issue for healthcare providers. Staffing issues, shrinking margins and changing regulatory requirements are all adding to the challenge, report David Paschall, CEO, and Stephanie Haywood, SVP of Sales and Client Engagement at Ntracts.
Pursuing a contract lifecycle management strategy, they report, can help alleviate these issues by reducing the number of days a contract spends being reviewed, increase transparency and help the organization adopt standardized language and processes to ensure greater adherence to internal policies.
It can also reduce the number of contracts that get auto renewed by mistake, are not renewed when they should be or overlap needlessly with other agreements.
Listen in to learn more about how adopting a contract lifecycle management strategy can bring greater efficiency and a host of other benefits to your organization.