Humana Selects Icertis to Digitally Transform its Contracting Process
Innovative Healthcare Company Prescribes Industry-Leading Contract Management Platform to Increase Visibility and Enterprise-Wide Efficiency
Icertis, the leading enterprise contract management platform in the cloud, today announced Humana, a leader in healthcare innovation, selected Icertis as its contract management platform to increase visibility and enterprise-wide efficiency, while reducing cycle time.
To meet the demands of the fast-moving, highly-regulated health insurance industry, Humana needed to modernize its manual contract processes with an intelligent, easy-to-use contract management solution that could help it manage intercompany agreements between its Insurance Group and its Healthcare Services, Wellness, and Care Delivery Organization business units. Humana will use the Icertis Contract Management (ICM) platform to standardize contract management processes, perform amendments to legacy contracts and create a single source of truth for all intercompany agreements while ensuring compliance with the company’s strict security and data privacy policies.
Healthcare payors rely on intercompany agreements to manage transfers of assets, liabilities and risk between subsidiaries and must maintain strict records of these transactions to meet legal audit requirements. Humana selected Icertis due to the contract management leader’s prior experience with leading healthcare brands like AbbVie, Australian Unity, Johnson & Johnson, Merck and Sanofi and ability to manage all contract types from across its diverse business groups in a central repository.
“Leading companies across every industry are taking advantage of the transformative power of digitization to deliver lasting business advantage, and none more so than in the healthcare industry,” said Samir Bodas, CEO and Co-founder of Icertis. “With ICM, Humana will be able to turn its static contracts into truly strategic assets, providing enterprise-wide visibility and a single source of truth for the organization. We are excited to work with Humana as they continue to deliver the best to the communities they serve.”