How to Draft More Durable Healthcare Contracts

The healthcare industry is subject to a hefty number of rules and regulations at all levels of government. In addition, these laws are susceptible to repeal or revision any time there is a change in governance. This can make it difficult for some companies involved in a healthcare-related business to plan for the future. This hesitancy or uncertainty may impact whether and how contracts are drafted and can end up requiring additional negotiations, amendments, addenda, or even rescissions. With these potential issues in mind, here are some things to consider in order to draft more durable healthcare contracts:

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The Ten Key Terms You Need to Know for Compliance Management

Compliance is a rather complicated albeit quite necessary facet of contracting. Of course, formal compliance procedures are not necessarily applicable in all contractual relationships, but it is highly relevant in the realm of government contracting and for the healthcare industry. Even if the nuances of compliance are not presently pertinent to your company’s contract portfolio, it is highly likely that they will be at some point. As a result, all contract management professionals must have a basic understanding of the process. Here are the key terms to know:

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How to Audit Government Contracts and Identify Issues

The federal government spends billions of dollars on contracts with private businesses of all size and in all sectors. For many businesses, contracting with the government is an excellent and consistent way to generate revenue. However, with that revenue comes a great deal of responsibility. There are a lot of different rules and regulations to understand, with two important ones being the Federal Acquisition Regulation (FAR) and the Federal Acquisition Streamlining Act (FASA). Although contracting with the government has a ton of advantages, it can also present a lot of problems if your company is ill-equipped to handle it. Here are five questions your company must consider when assessing its existing or future government contracts to identify potential issues:

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Effective Contract Management a Necessity Amid Financial Regulations

The financial services industry is one of the most heavily regulated sectors of our economy. There is Dodd-Frank and Sarbanes-Oxley to contend with, among so many others. There is also the myriad of acronym-labeled organizations and agencies, on both domestic soil and abroad, tasked with overseeing the enforcement of these rules and regulations or the investigation of companies or individuals believed to have breached them. Granted, there have been a few outrageous dealings and unscrupulous scandals (okay, maybe more than a few) that had a rather significant impact on the economy at large. Because of these unfortunate occurrences and their considerable or lingering repercussions, some level of increased scrutiny and heightened disclosure rules was to be expected. Not surprisingly, this increased level of scrutiny also applies to how a financial services firm manages its contracts.

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