Redwood City, CA January 22, 2003 Covenant Health is set to use a solution from provider Nextance for the management of its contracts and associated commitments.
Covenant Health is a community-owned health system headquartered in Knoxville, Tenn. The health system employs approximately 8,000 people.
Nextance will provide Covenant with a Web-based repository to manage the health system's contracts, which the provider said will enable Covenant to reduce overpayments and to increase observance with contract terms.
In addition, Covenant will be able to standardize their physicians' agreements and other contracts across the organization to meet regulatory requirements, according to Nextance.
"We chose Nextance because they best met all of our unique requirements as a healthcare organization," said Chad Clabough, director of public policy and project leader for contract management at Covenant. "We had previously implemented other contract management software, but we were limited in what we could do. With Nextance, we can use the software in the way that works best for us."
"Healthcare is a highly document- and contract-centric industry," noted Kirk Krappé, president and CEO of Nextance. "Leading health care organizations are, therefore, increasingly demanding more sophisticated tools to manage their contracts and related business processes."
Krappé added that the XML architecture of Nextance's solution allows the provider to offer a solution capable of meeting the specific requirements of the healthcare industry."
For more information on contract management automation, see the article "Digging Out from the Contract Clutter" in the January 2002 issue of iSource Business.