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12 Healthcare Contract Management Best Practices

Web12 Healthcare Contract Management Best Practices. Rod Linsley Apr 4, 2024 11:46:27 AM. The healthcare industry relies heavily on contracts to manage finances, comply with …

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URL: https://www.gatekeeperhq.com/blog/12-healthcare-contract-management-best-practices

What is Contract Compliance and Why is it Important

WebIt’s critical for minimising risk, maintaining trust and ensuring the smooth functioning of business relationships. It’s the ultimate safeguard, the last man standing, that ensures …

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How to implement contract monitoring best practices with …

WebBelow, we take a look at the steps that make up a successful plan and some contract monitoring best practices each step should include. 1. Decide what to monitor and by …

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What is Contract Lifecycle Management (CLM)

WebContract lifecycle management (CLM) is the comprehensive management of a contract's life from inception to completion. It encompasses every step of the contract process, …

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How to deal with the outcomes of a contract review

WebThe usual outcome of a contract review is a list of issues or concerns that represent unacceptable risk, unrealistic expectations, impractical practices, violation of policy, …

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Vendor Management KPIs: How to Track Your Key Vendors' …

Web1. Centralise all vendor records. Knowing everything about your vendors, including what they’re committed to, is key to tracking performance. If maintaining compliance is a KPI, …

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Procurement vs Legal: How contract management software brings …

WebWrap Up. Procurement and Legal teams work most successfully together when there is a shared vision, agreed priorities and a willingness to collaborate rather than compete. …

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How to use RAG Status in Vendor And Contract Lifecycle …

WebA RAG Analysis and Action Plan should also be defined to turn Reds and Ambers and Ambers into Greens. This will create accountability across the business to take corrective …

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Three ways to streamline your contract review process

WebStreamlining through self-serve options, automation and pre-approved templates alleviates pressures on the team. Moving beyond manual processes and relying solely on the …

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How to improve vendor governance

WebHow to use VCLM to improve your vendor governance. Using spreadsheets, shared drives and emails to manage your vendors will limit the success of your vendor governance …

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Contract Management KPIs

WebAs highlighted above, looking at desired outcomes of contract management is an important first step when it comes to setting meaningful contract management performance …

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How to achieve effective contract change management

WebManaging contract change management. Every operational process should be managed to a degree matching its importance. This is necessary to help ensure that a process is: …

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Contract Terminology: Contract terms you need to know

WebContract terminology Glossary. You can visit our contract terminology glossary for a comprehensive list of legalese. Below are some of the most important phrases you need …

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Supplier risk management: 5 best practices to follow

WebDelegating the information you need puts the onus on suppliers to be compliant and prove that they are doing so. 2. Centralise compliance documentation. If you don’t have …

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Collaboration with vendors

Web3 Keys to success in vendor collaboration. Sharing information. Open and transparent communication means sharing data and information. Vendors must first share basic …

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How to Assess a Vendor’s Financial Stability During the Due …

WebAnalyse the vendor’s debt-to-equity ratio. One way to check a vendor’s financial stability is by analysing their debt-to-equity ratio. This ratio compares the amount of debt a vendor …

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How to manage supplier performance

WebThe solutions to the supplier’s poor performance could be quick, simple and cheap to achieve, or the opposite in one or more respects. They may entail changes to …

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How to set up an RFP scoring system (Free Template Included)

WebThe evaluation method can be simple or complex, depending on the criticality of the purpose of the RFP. Several elements need to be considered in devising a suitable evaluation …

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5 types of vendor management dashboards your business needs …

WebSee what actions are still required, where there are any delays, what your vendor is responsible for and how you can keep things moving. This type of vendor management …

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