An exclusive report by World Commerce & Contracting.
Healthcare enterprises operate in a business environment characterized by a fragmented ecosystem of payors, providers, suppliers, and patients. The relationships between such entities are underpinned by contracts that are constantly subject to evolving regulatory standards and everchanging commercial practices. Legacy systems and manual processes are just not enough to handle the volume and velocity of care delivery, and could lead to potential legal liability, hard value leakage due to incorrect billing or reimbursement, spiraling procurement costs, and less-than-optimal patient outcomes.
"We chose Sirion to power UCLH's initiative to drive improved financial value and performance in our large procurement and client contracts due to its advanced contract management capabilities."
As one of the cornerstones of modern society, healthcare enterprises need to maintain their focus on improving patient care outcomes. As a result, they cannot afford to exhaust time and critical resources on tertiary tasks like contract management. With Sirion, stakeholders across the value chain – such as managed care companies, legal counsel, compliance and risk management professionals, finance teams, and the supply chain and vendors – can come together on a single platform to contract smarter, automate administrative tasks, and gain unparalleled efficiency in terms of lower costs, fewer compliance issues, and even fewer disputes and disruptions of care.
Gain complete visibility into the contract portfolio to ensure compliance with Joint Commission, CMS, DHH, HIPAA/HITECH and other applicable laws and regulations such as GCP and GDPR.
Uncover risk elements buried deep within contracts, assess probable impact, and take corrective action with data-driven insights.
Enable intelligent self-service contracting to quickly generate BAA and other types of contracts, accelerate physician and provider onboarding, and ensure better business outcomes.
Leverage contract intelligence to inform repapering and amendment exercises and keep supplier contracts and long-term agreements such as physician and managed care agreements compliant and up-to-date.
Maintain visibility into and tight control over the contracting chain with a bird’s eye view of supplier and subcontractor relationships.
Monitor contractual obligations, key performance indicators, milestones, renewal and expirations dates, and more through a single pane of glass.