MediTract Enables Hospitals and Health Systems to Enhance Operational Efficiencies
MIAMI, Feb. 23 /PRNewswire/ -- Miami Children's Hospital is a world leader in pediatric healthcare with a medical staff of more than 650 physicians and 2,400 employees. Yet, because of its role as a leader in providing children's healthcare and as one of the nation's finest research and teaching hospitals, the hospital's staff found itself facing a problem familiar to most healthcare organizations.
"Because our physicians also teach and some conduct research, we could have many contracts for each individual -- one for clinical trials, one for teaching services, and one for general employment, just to name a few. With so many physicians, it was hard to track just where those agreements were located," said Ximena S. Huthnance, contract administrator for Miami Children's Hospital. "The volume of our contracts alone required a lot of time and effort to manage and we had to work really hard to locate and maintain those contract files. We knew we needed a centralized location where we could store all of our vital documents and we needed a way to better manage them, to make sure we were working off of the most current information."
The hospital had to create new procedures for reviewing and executing its contracts, but it also needed to store agreements and other important documents where authorized personnel could easily access the information they needed. The hospital network found a solution in MediTract, the nation's leading healthcare contract and document management provider, currently serving more than 20 percent of the nation's hospitals. MediTract is by far the dominant provider in the healthcare contract and document management business. It is a division of TractManager Inc., a national Internet-based technology firm specializing in the provision of secure, real-time access to customized and centralized contract and document management databases.
"MediTract was instrumental in setting up a new process and new policies for finalizing and managing our agreements. The hospital has had the system since 2006. At first, we used it solely as a repository for all our contracts, but it has evolved into a daily operations tool. The integration of MediTract as part of our process has improved the creation, review, approval and management of contracts and has increased department collaboration throughout our organization. We even store our corporate documents in the database," Huthnance said.
Miami Children's Hospital saw the importance of making sure compliance with contract terms is met in respect to its performance of daily operations as well as with the parties with whom the contracts concern. MediTract enables Miami Children's Hospital and other healthcare providers to easily access and review contracts and other binding agreements in a timely, easy-to-use manner.
"One of the greatest features of the product is the ability to alert us to contract critical and expiration dates. Many of the contracts we had in place had auto renew clauses. With so many different contracts, it was hard to know what was coming due. Now, we know well in advance, and we can be proactive in contacting the vendor and renegotiating the terms of our contracts," Huthnance said. "We also use the system to create monthly reports that show what contracts are about to expire, and then senior management can determine if those agreements should be renewed."
Miami Children's Hospital has also been able to restrict access to various contracts, ensuring that confidentiality is maintained throughout the system. New agreements are reviewed by senior management and the legal department and are kept in one centralized location until a signed contract is complete.
"We know that every single contract is being thoroughly reviewed by the appropriate personnel," Huthnance said. "Whether it's a contract or an amendment, a renewal or extension, it comes through the legal department and goes into MediTract. Everything is done online, so the appropriate review is in place before a contract is signed. Then we store the documents in our database, and it's there and easily searchable if we need to further review the agreement. Just being able to search for one name, one vendor, and have all those documents instantly available has greatly increased our productivity."
MediTract's user-friendly interface makes searching for documents and storing critical information easy. MediTract's patented technology processes scanned documents, extracts key data elements and loads the information into the appropriate location within the database. The technology offers a series of views and functions that meets the needs and requirements of every department and user.
"We are always happy to hear our clients' success stories involving the use of our product. Miami Children's Hospital does so much good work, both in the care they provide and the research and teaching that they do, and we are pleased that our service helps provide their operation with the support they need to run smoothly and compliantly," said Scott R. Jeffery, president and COO of MediTract. "Our service has been successful because it meets the needs of hospitals both large and small, and it offers a less expensive alternative to dedicating existing staffs' valuable time or hiring additional staff to manage contracts as efficiently and effectively as our system does."
"MediTract has greatly assisted us in keeping our fingers on the pulse of our day-to-day business obligations and in ensuring that we're spending our money wisely on up-to-date contracts," Huthnance said. "It's a really fantastic product that has helped us increase our operational efficiency, and makes compliance and regulation even easier with up-to-the-minute reminders."
MediTract is the leading healthcare contract and document management provider, serving over 20 percent of the nation's hospitals. MediTract is a division of TractManager Inc., a national Internet-based technology firm specializing in secure, real-time access to customized and centralized contract and document management databases. MediTract was founded by healthcare executives and the company has an in-depth knowledge of how both providers and payers prioritize their physician, operating and supplier contracts and monitor contract compliance. The company's solutions help healthcare professionals gain control of their contracts and reduce the cost of doing business by providing the tools necessary to improve management's visibility of contractual obligations, enhance compliance and streamline the new contract and contract renewal workflow processes. TractManager has offices in Saddle Brook, NJ and Chattanooga, TN. For more information on TractManager and MediTract, please call 1-877-492-8490 or visit www.meditract.com.
|SOURCE MediTract, Inc.|
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