Without the appropriate contracts in place, a supplier’s service levels become untraceable, performance standards may decline, audit trails become non-existent, and the health system may be exposed to incremental risk. The purpose of having a contract is to protect both the provider and supplier from exposure to risk and provide clarity in scope of work and payment methods. It is also imperative that purchased services contracts are easily found, organized, and searchable in order to proactively manage costs and address the changing risk landscape.
Contract automation can move purchasers away from risky business and toward centralization. We hear all too often that hospitals don’t have enough resources to manually centralize and review their contracts database, exposing providers and patients to unnecessary risks. Conductiv can help.
Read our short article “Where have all the good contracts gone?” to learn why some contract management systems aren’t always enough for the supply chain, and how to leverage your contract repository for the most ROI on your purchased services contracts.