Compliance risks, lack of transparency and standardization in contract management drive demand for TractManager’s solutions

Clean Sweep Live Auction on Wed. Sep. 18th. Click to view the full inventory

advertisement

Compliance risks, lack of transparency and standardization in contract management drive demand for TractManager’s solutions

Press releases may be edited for formatting or style | August 21, 2019 Health IT
DALLAS--(BUSINESS WIRE)--More than a quarter of the nation’s hospitals, including several of the 10 largest U.S. health systems, depend upon MediTract, TractManager’s industry-leading, healthcare-specific contract lifecycle management (CLM) solution, to streamline, standardize, and manage their contracts and processes compliantly. Today, MediTract announced several “Go-Lives,” of its “gold standard” CLM platform and Compliance Suite, increasing the number of implementations to more than 2,000.

Two hospitals completed successful implementations of Contract Library, the core of TractManager’s CLM platform. A nonprofit health system in East Texas and a large healthcare system in Michigan are now able to take advantage of greater visibility into and control of their contracts and documents with Contract Library.

Many clients have chosen to expand their contracting capabilities by adding Process Manager, which automates, configures, and executes a completed contract. Process Manager reduces contract processing times from months to weeks, and helps health systems control contract workflows, mitigate compliance risks, and implement process and policy controls. Recent implementations of Process Manager include a large nonprofit health system based in North Texas and a large Florida-based radiation oncology provider.

THE (LEADER) IN MEDICAL IMAGING TECHNOLOGY SINCE 1982. SALES-SERVICE-REPAIR

Special-Pricing Available on Medical Displays, Patient Monitors, Recorders, Printers, Media, Ultrasound Machines, and Cameras.This includes Top Brands such as SONY, BARCO, NDS, NEC, LG, EDAN, EIZO, ELO, FSN, PANASONIC, MITSUBISHI, OLYMPUS, & WIDE.

Coupling contracting with compliance is a critical safeguard for hospitals and health systems in today’s regulatory environment. MediTract’s contract lifecycle management platform also features an easy-to-use compliance suite that includes Conflict of Interest disclosure forms that can be readily distributed and completed by physicians, executives, board members, purchasing agents, or other professionals within the organization. Less than four years ago, a health system paid $115M to settle allegations that it violated regulations related to compensation arrangements. Another hospital paid $108M in 2010 to settle claims that it violated the Anti-Kickback Statute. Recognizing the importance of ensuring compliant contracting processes, a multi-facility health system in Central Michigan recently completed a successful implementation of MediTract’s Conflict of Interest compliance module.

Hospitals in Ohio, California, and Arizona recently implemented MediTract’s Vendor Evaluation Form, a compliance tool developed to support hospital compliance with the regulatory requirement to perform an annual evaluation of all vendors whose equipment is used for patient care at the bedside. This online survey module helps users evaluate vendor performance in compliance with state and federal regulations and accrediting agencies.

You Must Be Logged In To Post A Comment