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Driving Forces Behind Effective Contract Management

Heisenberg II Contract Management system automates and streamlines the entire contracting process and enables organizations to save time & money both on the recruitment process. Let's find out the Driving forces behind effective contract management.

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Driving Forces Behind Effective Contract Management

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  1. Driving Forces Behind Effective Contract Management System

  2. Introduction • Hospitals are hiring more physicians, and that comes with an often-overlooked complication that is, more contractual agreements than ever. • According to the Physicians Advocacy Institute, nearly 70% of physicians now employed by hospitals or corporations. • Association of American Medical Colleges (AAMC) forecasting a shortage of as many as 124,000 physicians by 2034. • The hiring and recruitment function is growing ever more important for successfully attracting and retaining providers.

  3. Contract Management WorkFlows & Recruitment • 96% of healthcare organizations that lack a contract management system. • Contract problems can start accruing even during the earliest recruitment efforts. • Inadequacies here make it difficult-to-impossible for HR to track contract requests, edits, and approvals. • A survey by DocuSign found that two-thirds (63%) of business professionals say they end up having to rework contracts due to “human error and data entry errors.”

  4. Contract Management WorkFlows & Recruitment... • 78% “do not systematically monitor contractual obligations”. • 71% do not monitor contracts “for deviations from standard terms”. • 69% of organizations “do not require staff to use a template when drafting a contracts”. • 69% also “do not demand adherence to any rules or guidance”. • 49% have no “defined process of storing contracts”.

  5. Contract Management Aligns People, Process and Technology • Smart contract management systems, like Heisenberg II Contract Management (HII CM), automate and streamline the entire contracting process. • Automated and streamlined approach to contract handling that can benefit the entire recruitment function.

  6. Efficiency Gains & Cost Savings • A smart contract management platform like HII CM can reduce workflow steps. • Heisenberg II contract management automate the contract creation and approval process, generate follow-up notifications and alerts. • The technology streamlines the process to free up people’s time, In turn, that reduces both contract cycle times and overall administrative costs.

  7. Credibility Gains • A transparent process fueled by the right technology means the people involved. • There are no worries about edits slipping through the cracks. • All of the things happens invisibly, as it should, which maximizes the chance of a long and fruitful relationship.

  8. Overall Effective Gains • HII CM functions as a contract document manager as well, users can do everything in the system. • Ensures collaboration from all departments are on the right contract version and can see all edits throughout the contract process. • Increase accuracy, speeds up the process and minimizes compliance risks. • Contract management is a multi-stage, multi-function process that starts with attracting and hiring providers in the first place.

  9. Discover Detailed info on Effective Contract Management- Visit: People, Process & Technology: The Driving Forces Behind Effective Contract Management

  10. Thank You Heisenberg II 200 Motor Parkway, Suite D-26, Hauppauge, NY 11788 Call us: (855) PHYSCMP (749-7267)

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