Innovative Healthcare System Harnesses Power of Contract Intelligence To Modernize Its Procurement Operations
Icertis, the contract intelligence company that pushes the boundaries of what’s possible with contract lifecycle management (CLM), announced that Allina Health, an innovative not-for-profit healthcare system headquartered in Minneapolis, MN, has selected the Icertis Contract Intelligence (ICI) platform as the primary CLM solution for the company’s digital transformation of contracting. The initiative advances the organization’s procurement operations, helps to ensure regulatory and industry compliance, and maximizes the value of their contracts long after each one is signed.
Read More: Airspace Announces Promotion Of Alex Coates To CFO
Allina Health operates 11 hospitals, more than 90 clinics, and has more than 29,000 employees, as well as 6,000 associated and employed physicians. The healthcare system provides care for more than six million patient visits per year, across Minnesota and Western Wisconsin.
Allina Health embarked on a digital transformation initiative to become even stronger for their community by functioning more efficiently, minimizing risk, and finding new value in operations across the enterprise health system. A key area the organization identified for modernization was contract data. The provider needed to easily access disparate data sources, centralize data across systems to ensure compliance, track contract renewals, and match transactional data like purchase orders and invoices from Workday Financial Management to negotiated contract terms through Icertis’ certified integration with Workday.
“Allina Health is committed to our mission of Whole Person Care. Foundational to that mission is operational excellence. It became evident that a critical component for success was going to be the implementation of an advanced CLM system to support the operating model that we’re developing,” explained Jonathan Shoemaker, Chief Information and Improvement Officer, Allina Health. “We evaluated several CLM solutions, but Icertis’ platform offered the most comprehensive functionality and the company’s experience in the healthcare field made them knowledgeable about the challenges we face in today’s competitive environment.”
Healthcare providers operate in an ever-changing, complex regulatory and commercial environment, requiring the ability to react quickly to new laws and collaborate with third-party business partners to stay competitive and compliant. Icertis has a bold vision to enable forward-thinking healthcare companies to utilize contract intelligence to address these challenges, while positioning themselves to capitalize on new opportunities. From ensuring supplies are procured from properly credentialed sources, to verifying that physician contracts comply with internal rules, ICI helps healthcare providers ensure regulatory compliance, monitor contracting processes for efficiency, and improve patient safety.
Read More: PureSoftware Further Expands Its Global Footprint With The Opening Of Office In Kenya, Africa
“Leading hospital groups are reimagining contract management to survive and thrive in an increasingly complex marketplace,” said Nitin Khorana, Vice President, Healthcare and Pharma, Icertis. “We are excited to be partnering with Allina Health on their journey to transform contracting. ICI will enable seamless contract collaboration between procurement and suppliers, between the managed care team and insurance companies, and for all other stakeholders who work with contracts at Allina Health. This modernization will improve negotiation and risk management by delivering a 360-degree view of obligations and entitlements.”