In light of the recent cyber-attack on the NHS, it’s important to recognize that services across the world must be taking more steps to ensure that management is protecting their healthcare contracts with reliable systems.

Healthcare services have to deal with multiple layers of healthcare contracts and important legal documents, such as physician contracts, service arrangements, medical director agreements, and transfer agreements. Those files must be stored in a safe and secure way to generate the best preventative measures possible. In some cases, it seems that not enough importance is placed on contract management for expanding healthcare services.

A study by HealthAffairs, a leading journal in health policies, notes: ‘profound changes in the way U.S. hospitals are being managed have transpired during the past two decades. While researchers and policymakers have considered issues such as the growth of managed care and consolidation of the hospital industry, little attention has been paid to management incentives and their impact on the delivery of services and access to care. In particular, there is a paucity of research and discussion of contract management.’

To ensure data accuracy, security, and privacy, healthcare industries must start to recognize contract management’s key advantages. Here, we explore some features of contract management software that can help.

Security

Security is a grave concern because healthcare inevitably involves a large amount of sensitive and confidential data. Contract management software protected by the cloud helps to defend healthcare contracts against data theft, virus attacks, human error, and natural disaster. Because the cloud operates with multiple backup locations, documents stored on contract management software are protected from loss. But it’s important to have as much data as possible available to provide the best quality care, while also ensuring patient information is not vulnerable to exposure.

Since healthcare providers often manage large complex networks of hospitals and affiliates, there can be many users in various departments trying to access data. Contract management software such as tractFile reduces the risk of unknown users accessing information with strict login protocols, as well as secure encryption with well-known cloud providers like Google Drive. Fully customizable features also allow you to reflect the complexity of your system and your users.

Contract Automation

Contract management must be linked to each healthcare organization’s specific deadlines and constraints. Missing contract deadlines can seriously damage reputations and bring unwanted scrutiny or publicity. It could also mean that you’re not fulfilling your industry’s requirements, such as compliance with HIPAA. With a software system that has several automated functions, reminders can be sent to managers to ensure that an entire contract lifecycle is watched, helping to ensure compliance measures.  

Frequently Generated Healthcare Contracts

In the healthcare industry, time is a precious commodity. In a stressed system, too much time spent on one task means time taken from another. A system with automatic generation of terms and clauses saves time by creating contracts with similar roles specific to the healthcare industry. Healthcare contracts can simply be made into templates and stored in the system, leaving time to focus on the unique parts of each contract.

Healthcare services need to consider ways to improve ways of reporting and hosting large amounts of data. Contract management gives those industries the tools to maintain and improve existing measures, helping to reduce the chances of another cyber-attack on precious data. With so many services anxious to improve their systems, it makes sense to choose a solution like tractFile for ease of mind.

Ready to start streamlining your healthcare contracts with tractFile? Try it free for 14 days.