By Lisa Woodward
Client Solutions Advisor, MediTract

We've all experienced the urge to acquire the latest technology, such as a DVD player or the newest cellphone, only to have that shiny gadget become obsolete before we’ve extracted it from the packaging. Or maybe we have settled into a way of doing something — like receiving and paying bills by mail — only to be told that online billing and payment are the way to go. The common denominator in these examples is that even obviously positive changes can sometimes be difficult to cope with.

The same process of "evolution" can apply to your organization’s contract management practices as well. We can all count on technology to continue to make advancements in efficiency and automation, but have you considered the evolution of your organization’s strategic goals and/or regulatory changes that can affect your current contract management practices? How well are your organization’s internal processes and systems keeping up with these changes?



Health care providers need to be not just competitive, but compliant. If you want to successfully navigate the industry’s business and regulatory environment, it's critical you have a contract management program in place that includes effective processes for contract life cycle management, and a technology solution to execute those processes.

A contract program with the right foundation will enable you to easily navigate the dynamic environment of ever-changing health care processes and technology. This type of sustainability in a contract management program is built upon four basic elements.

Contract management program ownership
A contract management program benefits its organization when there is ownership of the process and designated technology solution. The contract management program owner may vary across organizations, but it can include individuals in areas such as legal, compliance, or corporate governance.

The individual in this role works with internal stakeholders to set standards and provide the consistency needed to ensure successful contract management practices. The program owner should have full understanding of the legal and business rules governing contract management, as well as awareness of the organization’s strategic business objectives. This individual should have the authority to ensure accountability and compliance and to align contract processes with the designated technology solution.

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