The Process of Operationalizing Contracts to Support CQO

Supply chain departments manage the second largest healthcare expense after labor costs. Months after the time and energy that went into the contract negotiations, we find that costs are up and products are being purchased outside of contracts. The solution is to bridge the gap between contract execution and purchasing. Contract catalogs are a challenge to execute and manage and are not enough to reap the contract savings benefits. We must also manage the related data to achieve contract compliance. This interactive eLearning course teaches how to effectively operationalize contracts, resulting in an organized management process that will allow the entire organization to purchase quality products at the lowest cost.

Learning Objectives:

• Explain the importance of the contracting function in supporting CQO initiatives.
• Identify and assess challenges contributing to low contract compliance rates.
• Describe tips for simplifying and standardizing catalog management to drive users to the correct formularies and increase contract compliance.