Contract Management Software for Healthcare

Contract Lifecycle Management Software for Healthcare Industry

Increased scrutiny by compliance regulations such as HIPAA (Health Insurance Portability and Accountability Act) for the healthcare industry warrant the need for well-defined operating procedures. Automated AI-based contract management software for healthcare organizations will ensure easy contract authoring.

It will generate real-time visibility into Business Associate Agreements at the clause level, and drive compliance throughout the lifecycle. A compliance and risk officer can focus on doing the right things rather than grapple with paper, image, or even MS Word-based contracts.

Contract Management Challenges in Healthcare

Health care providers today must deal in a large number of varied contract types. Physician & non-physician employment agreements, vendor contracts, equipment leasing & service contracts, pharmacy & research agreements, managed care, etc., are the various types.

This industry faces major challenges, like containing costs for clients. They have to comply with evolving government regulations like HIPAA, HITECH, Stark, False Claims, and Joint Commission (JACHO). Strict privacy policies are sensitive to health, medical treatments and payments, and complex paperwork. These issues need immediate attention to stay compliant and competitive.

contract management software for automotive industry

CLM Solutions for Healthcare

Ultria CLM, Healthcare Contract Management Software, streamlines contracting processes in healthcare organizations. It reduces risks and designs a better compliance management framework.

  • Create and e-sign personalized Business Associate Agreements (BAAs) “hands-free”
  • Track data to ensure all compliance documents such as those for Health Insurance Portability and Accountability Act (HIPAA) are valid
  • Ensure invoice compliance for providers and practitioners to feed into balanced scorecards to reduce overcharging
  • Track milestones and ensure enforcement of penalty clauses (civil and criminal) for the BAAs in case of violation of HIPAA, False Claims Act, etc.
  • Maintain an audit trail for all the changes made to a contract
  • Establish standardized workflows with multiple reviewers and approvers, as required
  • Generate reports to increase transparency and accountability
  • Store and manage contracts and compliance documents within a searchable and secure repository

Other Useful Resources

contract management in 2022Blog
January 24, 2022

Top Predictions and Considerations for Contracts and CLM in 2022

As we move into the new year, the turbulent Covid-19 conditions of the past two years have made us realize that volatility will be the most dominant trend when predicting the future. This has made organizations that stood on the precipice of digitalization for…
Case StudiesResources
January 20, 2022

US-Based Transportation Giant Company Success Story

Giant builds a massive centralized repository of 1,741 contracts using ultria’s AI-powered CLM About Company : Publicly traded, American motor carrier holding company based in Phoenix, Arizona. Is the result…
Case StudiesResources
January 20, 2022

Global Relocation Management Company Success Story

Salesforce-CLM Integration Helps Global Relocation Management Firm Do Away With Manual Contracting Processes About Company : Global relocation management company that helps leading corporations around the world to relocate their…
AI in Legal Contract ReviewBlog
December 16, 2021

13 Things to Look for During a Legal Contract Review

Don’t lose out to bad contracts. Contracts are not just a mere compilation of standard terms and conditions but a thoughtful recreation of agreement between the parties based on their understanding of their contract obligations. Never treat the original contract creation as absolute. There…

Using Orbit to provide "rails" to keep our business users in compliance while also streamlining the agreement review request process gives us both the speed the business unit leaders are asking for as well as the controls that we insist on.

Manager Contract Operations - F100 Services Company

Ultria's Integrating of Natural Language Processing with Optical Character Recognition increases the quality of the conversion result and really helps the AI perform at its best.

Director of Legal Operations - F100 High Tech Manufacturer

By using Orbit AI's Machine Learning we can train Orbit to find and extract the information we need for compliance and risk analysis.

Director, Risk, F250 Energy Company

Contact us

Call us at +1 609 799 5665 to get in touch with us right now or fill in this form.

Get in Touch

See it in action

See what Ultria can do to take your contract management to the next level.

Request Demo

Get Started Now

Let’s get running with contract lifecycle management and performance analytics.

Meet Orbit