What is Contract Management?
PriceMedic’s Contract Management system allows healthcare providers to upload, organize, and analyze their payer contracts. This powerful tool helps you:- Centralize contract storage for easy access and organization
- Extract key provisions automatically from uploaded documents
- Compare contract terms across different payers and time periods
- Track contract performance against actual reimbursement data
- Identify optimization opportunities for future negotiations
Getting Started
The Contract Management workflow consists of two main steps:1
Upload a Contract
Upload contract documents in various formats (PDF, Word, etc.) and let PriceMedic’s intelligent parsing extract key information automatically.
2
Update and View Provisions
Review, edit, and organize the extracted contract provisions to ensure accuracy and completeness for your analysis.
Key Features
Intelligent Document Processing
- Automated extraction of key contract terms and provisions
- Support for multiple formats including PDF, DOCX, and scanned documents
- OCR capabilities for processing image-based documents
Provision Management
- Structured data organization for easy analysis and comparison
- Custom tagging and categorization options
- Version tracking for contract amendments and updates
Integration with Rate Analysis
- Cross-reference contract terms with actual reimbursement data
- Identify discrepancies between contracted and paid rates
- Performance tracking against contract benchmarks
Use Cases
Contract Negotiation Preparation
Contract Negotiation Preparation
Use historical contract data and current market rates to prepare for upcoming negotiations with stronger data-driven insights.
Compliance Monitoring
Compliance Monitoring
Track actual payments against contracted terms to ensure payers are meeting their obligations and identify potential underpayments.
Portfolio Analysis
Portfolio Analysis
Compare contract terms across your entire payer portfolio to identify best and worst performing agreements.
Strategic Planning
Strategic Planning
Analyze contract performance trends to inform strategic decisions about payer relationships and service line development.
Before You Begin
Prerequisites
- Active PriceMedic account with Contract Management access
- Contract documents in supported formats (PDF, DOCX, etc.)
- Provider information and NPI details
Best Practices
- Organize documents before upload with clear naming conventions
- Prepare key information such as effective dates and payer details
- Review extracted data carefully to ensure accuracy
- Maintain version control for contract amendments
Getting Help
Need assistance with Contract Management? Our support team is available to help:- Email: support@pricemedic.com
- Documentation: Comprehensive guides for each feature
- Training: Available through your Account Executive