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CLM in the Healthcare Industry during the COVID-19 Pandemic

The COVID-19 pandemic, which originated from Wuhan, China, caused a disastrous effect on the world. The novel corona virus proved to be fatal in many cases and is considered to be highly contagious. The virus has put a pause on a global level where industries and companies had to shut down completely or partially to lower the rate of the virus spread.<br><br>Visit: https://docucollab.com/

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CLM in the Healthcare Industry during the COVID-19 Pandemic

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  1. CLM in the Healthcare Industry during the COVID-19 Pandemic By ​DocuCollab           © 2019-2020 All Rights Reserved, No part of this document should be modified / used without prior consent. DocuCollab​​- 1604 Spring Hill Road, Suite 216, Tysons, Virginia, 22182, USA Contact Number:​ +1-571-228-7037 | ​Email:​ sales@docucollab.com

  2.   The ​COVID-19 pandemic​, which originated from Wuhan, China, caused a disastrous         effect on the world. The novel corona virus proved to be fatal in many cases and is               considered to be highly contagious. The virus has put a pause on a global level           where industries and companies had to shut down completely or partially to lower             the rate of the virus spread. The consequences of the lockdown were felt around the               globe where many lost jobs and war-torn countries facing a humanitarian crisis.             However, the one industry that had to keep going to ensure the safety and the               wellbeing of the masses is the healthcare industry. The pressure put upon the             healthcare workers is of paramount, and the steady rise in the COVID-19 cases has             put the workers in a spot of extreme need and danger.                                                                                                                                                  An unanticipated effect of the ​COVID-19 crisis on the healthcare industry is the mass             enrollment of the recently graduated doctors, and many retired professionals           rejoined the force to help the flailing healthcare system. With the industry under huge               pressure, the contracts that reign the roles, responsibilities, duration, compensation             and more are thrown into disarray. Managing the contracts of doctors, nurses,             student-doctors, sanitation workers, lab technicians, and more have become a point         of trouble and errors.                                                                            Click here to read ​Managing Contract During the Crisis  A feasible way to solve the contract chaos in the healthcare industry caused by the               COVID-19 outbreak is to manage the contracts with the help of reliable ​contract lifecycle             management software​.                                  Managing Healthcare Contracts with CLM  The year 2020 has so far been a troublesome period for the healthcare workers. The                 doctors and other staff have been overworked due to the pandemic with the             management forced to take difficult decisions on saving both the lives of the patients           and the health of the frontline workers.                                                   An added issue that the healthcare industry had to face is the management of contracts               which had to be revised at a large-scale level to accommodate the changes,               amendments and provisions in the staff contracts. The ​contract lifecycle management             software provides a one-source solution to the hospital management by helping them           keep the contracts fuss-free and easily manageable. The distinctive features that enable             the industry in the management of contracts are:                                                                    © 2019-2020 All Rights Reserved, No part of this document should be modified / used without prior consent. DocuCollab​​- 1604 Spring Hill Road, Suite 216, Tysons, Virginia, 22182, USA Contact Number:​ +1-571-228-7037 | ​Email:​ sales@docucollab.com

  3. 1. ​Cloud-Based System    Governments all around the world had to enforce a strict lockdown to control the spread               of the pandemic since social distancing is the only way to curb from the contagious               virus. The WHO and the healthcare systems affirm that more the people decrease human               proximity, the higher the chances of beating the social spread. The cloud-based system             of ​contract management software enables managers to work safely from their homes           while managing healthcare contracts effectively. The contract team can effectively         create new contracts, review the provisions, update the clauses and extend/cancel the           contracts of doctors and other such healthcare workers at the safety of their homes. It             greatly reduces the overall pressure on the healthcare system and hospital management.                                                                                                                          Click here to read ​How To Effectively Manage Contracts In The Post-Pandemic Remote               Working Era                2. ​Centralized Repository    The centralized repository feature in the CLM system helps the managers to coordinate             with the team and manage the contracts more efficiently. All the contracts pertaining to               hospital management, from doctors to pharmaceuticals, everything can be managed           under the roof of the CLM system.                                          3. ​E-Signature    The healthcare industry had to take quick decision to add more doctors to the system in               order to help control the virus by assisting patients with severe symptoms. The mass                 addition to the system meant that the contracts had to be extended with amendments               made to it or new contracts being created to house the new staff. A contract is legal and                   enforceable only when all the involved parties sign it. With ​contract management tools​,             healthcare management can easily procure the signatures of the staffs through         E-signature. The healthcare professionals can sign their contract digitally which helps         them to join the force quickly.                                                                                                            Click here to read ​Contract Management During the Pandemic      © 2019-2020 All Rights Reserved, No part of this document should be modified / used without prior consent. DocuCollab​​- 1604 Spring Hill Road, Suite 216, Tysons, Virginia, 22182, USA Contact Number:​ +1-571-228-7037 | ​Email:​ sales@docucollab.com

  4. 4. ​Reporting    Reporting enables the management to study the performance of the contracts over a           period of time and gives a detailed insight into how certain aspects of the contracts can                 be amended accordingly. With ​Contract lifecycle management software, the healthcare           management gains knowledge through the performance metrics which helps them in           making crucial decisions during this difficult time.                                                          The ​contract management software provides an all-in-one feature-filled system that         helps in the management of the contracts efficiently during these uncertain times. Unlike               manual contract management, ​CLM software assists the organization in a wholesome         way where creation, control, management and execution of contracts is both easy and           feasible.                                                          Click here ​to learn more about ​DocuCollab​.’s Contract Management Software and how it             can assist the healthcare industry efficiently here                © 2019-2020 All Rights Reserved, No part of this document should be modified / used without prior consent. DocuCollab​​- 1604 Spring Hill Road, Suite 216, Tysons, Virginia, 22182, USA Contact Number:​ +1-571-228-7037 | ​Email:​ sales@docucollab.com

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