Healthcare companies are responsible for managing many types of corporate agreements, including contracts with their physicians and caretakers, service providers, equipment vendors, building owners, and others. For organizations that employ hundreds of doctors and nurses and care for thousands of patients across dozens of facilities, it’s easy to see how details of a specific contract could be overlooked or an individual contract could get hung up in the approval process sitting in a stack of papers on an executive’s desk.
Having the appropriate contract management tools in place is critical for any company managing a large volume of corporate documents, but especially so for those companies operating in a heavily regulated industry like healthcare. Missing one deadline or losing track of the status of a single physician agreement simply can’t happen.
Here's a look at how Catholic Health Services uses ContractWorks to effectively manage their contracts:
Catholic Health Services
Catholic Health Services of the Archdiocese of Miami is one of the leading Catholic health care providers in South Florida. They provide a full continuum of services, specializing in rehabilitation, long-term care, assisted living, home health care, early education and child care, low-income housing, and hospice for seniors throughout Miami-Dade and Broward Counties.
Operating 38 facilities, they serve over 7,500 people annually with love, skill, compassion and respect for all human dignity – regardless of race, creed or religious affiliation.
Contract Management Challenges
Without adequate software in place to electronically sign and approve contracts, plus some hesitation internally around adopting new technology, CHS had an outdated, inefficient contract management and approval process. Contracts were physically passed from one desk to the next (often getting lost in the process), and every agreement was signed with pen and paper. This process caused unnecessary delays and those responsible for contracts were often left in the dark about the status of a given agreement.
How ContractWorks Has Helped
The team at CHS is now seeing contracts flow through the approval process much more quickly thanks to ContractWorks and 10 electronic signature licenses. In fact, they estimate that their approval process time has been cut in half since implementing ContractWorks, and now takes just one week for all parties to sign off on an agreement instead of two. Not only does the electronic signature feature greatly reduce the time it takes for a contract to get approved, but it provides their legal team with visibility into their agreements and processes so they can identify strengths and weaknesses and find potential areas of improvement - and quickly answer any questions that arise about the status of a contract.
Click here to read the full case study and see what April Ricciardi, Materials Management Contract Administrator at Catholic Health Services, had to say about her experiences working with ContractWorks.