Your IT department will be busy during an Acquisition.

Once the decision is made which system will be the surviving system – yours or the acquisition’s system – that is when your IT department will get even busier. They may even be involved with comparing the systems and determining which might be the better system to consolidate the data into.

The obvious part your IT department will play is data extraction and data mapping for the data that needs to copied and converted from the sunsetting system and moving it to the surviving system. All of your interfaces need to be reviewed to determine which of those need to be moved or adjusted to continue “talking” to the surviving system.

When considering an acquisition there are many considerations. Some of these are:

How much history needs to be converted from the sunsetting system and moved to the surviving system?

How will historic transactions continue to be accessed from the sunsetting system when needed?

Coordination between IT departments (acquiring company and acquired organization) on current interfaces and how they will be handled in the combined organization.

Make sure to start with a BRD – Business Requirement Document – so you have a road map of what is expected throughout the process. This helps all involved – the acquired company, the acquiring company and any partner you may engage – know what is expected from all parties.

If you have AD FS configured with one or more Claims Provider Trusts, you may want to force the user’s browser to load one of those CPT’s instead of loading the main AD FS screen that provides them a choice. This is accomplished using the Set-AdfsRelyingPartytrust command in PowerShell. On the main AD FS server, open PowerShell as administrator. Run the command Set-AdfsRelyingPartyTrust -TargetName <the name of your RPT> -ClaimsProviderName @(“<the name of your CPT>”).

For example, before making the change, users are presented with a choice of AD FS logins. In this example, one is the main AD FS instance, and the other is the Claims Provider Trust.

And after the change, the user will automatically be directed to the login for the claims provider trust (so there is no need for them to make a selection).

Your IT department will be busy during a merger.

Once the decision is made which system will be the surviving system that is when your IT department will get even busier. They may even be involved with comparing the systems and determining which might be the better system to consolidate the data into.

The obvious part your IT department will play is data extraction and data mapping for the data that needs to copied and converted from the sunsetting system and moving it to the surviving system. All of your interfaces need to be reviewed to determine which of those need to be moved or adjusted to continue “talking” to the surviving system.

When considering an acquisition there are many considerations. Some of these are:

How much history needs to be converted from the sunsetting system and moved to the surviving system?

How will historic transactions continue to be accessed from the sunsetting system when needed?

Coordination between IT departments on current interfaces and how they will be handled in the combined organization.

If your IT department is already taxed, consider taking on a partner to assist with the process.

Make sure to start with a BRD – Business Requirement Document – so you have a road map of what is expected throughout the process. This helps all involved – both companies and any partner you may engage – know what is expected from all parties.

Occasionally there may be a need to revert to an earlier version of a WAS fix pack. The IBM Installation Manager has a “Roll Back” feature that works just for this purpose.

To roll back WAS, first stop all running IBM services. Then, open the IBM Installation Manager. Select “Roll Back”.

Choose the package to uninstall

Select the version to roll back to.

Click “Roll Back”

Verify a successful rollback, and click “Finish”. Be sure to go and roll back any other packages that are applicable.

 

You have a GL job in recovery and don’t want to delete it, possibly corrupting data in your general ledger. To check if the job is safe to delete, follow the steps below.

  1. Login to Lawson portal (you may need elevated or admin permissions)
  2. In the Search box on the top right, Type GLMONITOR and click Search (You can also search via GL15.1 but GLMONITOR is easier to remember)
  3. In GLMONITOR under Program, type the batch job number and click Inquire
  4. If you receive the “No More Records For Given Key” message, you should be safe to delete the batch job in recovery (see screenshot below for example)

That’s all there is to it. Good luck!

Contract management is crucial for risk minimization, optimization and value creation, but in 2015 the NAO identified systematic weaknesses in both government and commercial sectors. The NAO’s 2015 Transforming Government Contract Management report notes that much remains to be done, including far-reaching changes in the culture of the public service and its ability to procure and manage commercial contracts. The report was triggered by the high-profile overbooking of the Ministry of Justice’s 10-year electronic surveillance contracts with G4S and Serco. Four years later, it is now recognized that effective contract management has been achieved in the commercial departments. However, the 2015 report found “systematic weaknesses” in government and commercial contract management in the day-to-day management of contracts. [Sources: 7]

 

In most government departments, contract management activities are scattered throughout the organization, involving many different people in different roles at different distances from the front. This makes a lot of sense, because the management of contracts is most effective when it takes place close to the goods and services supplied. Allegations of ineffective contract management for the public purse are most frequently cited, but the truth is that effective contract management applies equally to the private sector. Effective contract management is more than managing the specific words and clauses on paper. In reality, it is much more comprehensive: it covers all aspects of the value and risk arising from contracts. [Sources: 5]

 

The same applies to public institutions. As you can see, the public sector has many of the same forces that influence it as the private sector. There is therefore an increasing need for more and better contract management. Public sector bodies need to rely more on processes that control and manage internal costs. This means that challenges are being raised and there is a greater need for technology and process transformation to outsource a wide range of areas, including contract and commercial management. [Sources: 8]

 

It is not enough for organizations to have contract management specialists. Employees must be supplemented by process and software support in order to meet the increased compliance requirements and analytical requirements. The expected economic benefits and financial returns must be realized. [Sources: 1]

 

The basis of contract management is based on the implementation of successful upstream activities after the award. Further consideration will have to be given before the contract is awarded. In the pre-award phase, employees focus on the reasons for concluding the contract with the supplier and fulfilling the contractual conditions. [Sources: 1]

 

At a time when public authorities need to be diligent about how public dollars are spent, it is imperative that contracts with this aim be developed in mind before the process of managing contracts is completed. The contract should specify exactly what is expected of the contractor. [Sources: 4]

 

Furthermore, contracts should allow public sector parties to carry out audits of their quality management and management information systems to ensure that the contract remains sustainable. Public sector parties will also have to deal with the requirements of the Official Information Act 1982 as applied to them, including the types of access granted to them by internal and external auditors. They also need to have financial information to convince themselves of the continued financial viability of the public sector. [Sources: 2]

 

Disputes should be resolved as quickly as possible at the appropriate level of dispute settlement procedures, thereby promoting negotiation and mediation between the parties. There should be an agreed mechanism whereby the parties are mutually informed of the problems arising from the Treaty. [Sources: 2]

 

Often the only viable option is to settle the dispute in court. Costly litigation drives up the cost of providing services to public bodies, even if the agency wins, and that is because the agencies prepare for litigation by using staff time and agency resources. [Sources: 4]

 

Public procurement and contract management officials exacerbate the problem by building a cocoon around their offices, pretending that their offices “goals, tactics, and actions are independent of the company’s goals. Others create resentment by acting as policemen and enablers. They are unable or unwilling to push for strategic public procurement or contract management. Failure to plan procurement, define requirements, award and manage contracts costs public institutions dollars and opportunities in the short and long term. [Sources: 6]

 

We still have a long way to go before contract management gets the recognition it deserves. Understanding the challenges of contract management is an important step towards improving the situation. Addressing these challenges requires efforts by all public sector organizations. What matters is improving growth, and the International Association for Contract and Trade Management (IACCM) is a sign of this. Where it has gone wrong, it is clear how important it is for organizations to do better. [Sources: 0]

 

Given that we are in an interesting double Brexit storm and a second Covid wave, it is vital to understand its position as a single entity of government. It requires at least some basic forms of digitalization, spending analysis, and supplier contract management, so that suppliers can trust the government to weather the storms around them. It also requires transparency in the way money is spent. We believe that the next period will provide opportunities for public sector organizations to operate from one position: they are the customers of choice and can rely on them to accelerate cash flow to companies in difficult times. [Sources: 3]

 

Sources:

[0]: https://www.publicspendforum.net/blogs/peter-smith/2017/03/20/contract-management-europe-challenge-public-sector-procurement/

[1]: https://www.businessnewsdaily.com/4813-contract-management.html

[2]: https://oag.parliament.nz/2006/public-private/part4.htm

[3]: https://spendmatters.com/uk/why-supplier-and-contract-management-are-the-hot-topics-for-government-cpos-and-ccos-right-now/

[4]: https://www.bakertilly.com/insights/developing-effective-contracts-for-the-public-sector

[5]: https://www.proximagroup.com/why-contract-management-is-so-difficult-to-get-right-in-public-sector/

[6]: https://patimes.org/improving-procurement-contract-management-government/

[7]: https://www.civilserviceworld.com/articles/partner_article/proxima/why-contract-management-so-difficult-get-right-public-sector

[8]: https://www.capgemini.com/2015/09/contract-management-3-reasons-why-the-public-sector-is-looking-for/

The majority of transactions within a health organization are subject to contracts. Smart contract management in the healthcare sector plays a crucial role in tipping the scales in favor of providers. It is the gold standard because it increases efficiency without affecting patient care. [Sources: 6]

 

In solo practitioners, the number of contracts can be breathtaking. In groups of two or more practitioners, the state of practice and contractual obligations can get confused when practitioners make contractual arrangements. [Sources: 1]

 

Health organizations have several contracts with a number of providers and individual organizations. Studies have shown that several contracts in different industries are lost due to poor management. If these contracts are lost, the problem is the need for an efficient contract management system. [Sources: 4]

 

Executives and financial managers who want to automate contract management in the healthcare sector make the acquisition of systems and health IT a priority in order to increase earnings. Providers help providers and organizations automate and optimize contract management in the healthcare sector, the survey continues. [Sources: 9]

 

Healthcare companies know that if they fail to comply with industry rules, the consequences can be severe. Implementing contract management software is just one step they can take to improve their compliance procedures and ensure they comply with industry regulations. In this way, it can help them play by the rules and avoid costly penalties. [Sources: 3]

 

Partnering with a healthcare contract management system can help you evaluate relationships and use actionable data. Every facet of hospital management is forced to adapt to upheaval. Contracts must reflect current laws and regulations, and many providers use contract management specialists. [Sources: 6]

 

Request a free demo today to learn more. For more than 20 years, Cobblestone has been providing industry-leading and acclaimed contract management software solutions for many industries, including healthcare. Contract Insights web-enabled, flexible, low-friction and robust solutions have helped thousands of users in small and large organizations in the public and private sectors. [Sources: 10]

 

The healthcare contract management market will grow rapidly as providers and organizations look for new systems to manage more complex contracts. In fact, the New Market Report predicts that the market will grow from $755 million in 2019 to $1,763 million in 2024, representing an average annual growth rate (CAGR) of 18.5% over that period. [Sources: 9]

 

Watch the video to get a quick overview of the state-of-the-art functionality of the contract management software. Health organizations can track and monitor line items such as medical devices, drugs, laboratory items, face masks and other PPE products, food and more, as well as manufacturer-related costs. With comprehensive expenditure management in contract management software, users can use contract pricing and contract budget tracking tools. [Sources: 10]

 

Contract management is an important element of a sound practice management strategy. Due to the number of different types of contracts that healthcare providers conclude, it can be difficult to manage all moving parts. In order to reduce the risks associated with inadequate contract management, health practices should establish written policies and procedures dealing with contract supervision, authorization and review processes, evaluation criteria for contractors and special considerations relating to research and legal review. [Sources: 1]

 

A health care contract is your traditional contract in the form of two consenting parties: a physician, a health care provider, a managed care organization (MCO), a network sponsored by a provider, a health care preservation organization, and an integrated care system for various health plans. Contracts can be concluded with health care providers, other employees, vendors and more. These contracts focus on the roles and responsibilities of each party and its compliance requirements with state and federal laws. [Sources: 7]

 

Solutions such as this contract management software provide a secure location for all your contracts, including medical contracts, vendor contracts, construction contracts and more. This allows your legal team and key stakeholders to find contract files and search them for terms, keywords and interests. [Sources: 3]

 

Efficient CLM-based steps overcome the usual pitfalls of contract management. A streamlined process ensures better execution of the creation, submission, approval and signature of documents. When you have such a workflow, it saves time and money, reduces errors, and delivers consistent results. [Sources: 5]

 

Effective contract management helps ensure that the hospital meets or exceeds its suppliers “expectations and meets its contracts. If a seller fails to meet its contractual obligations, the hospital can take steps to prevent the same problems from recurring. With this information, the CFO can take corrective action if necessary to minimize the risk posed by a vendor who does not comply with his contract. A key aspect of preparing for an audit is the CFE’s knowledge of how well their hospital performs under its contract and how its vendors perform under its agreements. [Sources: 0]

 

Sources:

[0]: https://www.beckershospitalreview.com/hospital-management-administration/contract-management-best-practices-avoiding-the-common-mistakes-that-cost-hospitals-millions-of-dollars-annually.html

[1]: https://www.medpro.com/contract-administration-healthcare-practices

[2]: https://www.contractlogix.com/contract-management/improving-contract-management-for-healthcare/

[3]: https://www.contractworks.com/blog/the-importance-of-contract-management-for-healthcare-compliance

[4]: https://sites.google.com/site/healthcarecontractmanagement/best-practices-for-healthcare-contract-management

[5]: https://www.kohosoftware.com/contract-management-in-healthcare-advantages/

[6]: https://www.healthcents.com/resources/blog/best-practices-for-healthcare-contract-management/

[7]: https://www.cogneesol.com/blog/effective-healthcare-contract-management

[8]: https://www.concordnow.com/industry/healthcare/

[9]: https://revcycleintelligence.com/news/manual-healthcare-contract-management-costs-providers-157b-a-year

[10]: https://www.cobblestonesoftware.com/blog/healthcare-contract-management-covid-19