In contract management, the responsibilities of Contract Managers vary from organization to organization. In general, they oversee overall contract management function within the organization including;
- Oversee organizational contract development and management activities,
- Enforce organizational principles of integrity and compliance.
- Ensure that contracts and proposals are properly entered into organizational databases and securely maintained.
- Develop standards for contracts, including presentation of budget, payment terms, general language and provisions.
- Perform appropriate clinical, administrative and operational research to support proposal and contract development.
- Conduct contract strategy meetings to identify issues and client requirements, facilitate pricing discussions, and obtain senior management input on timelines and deliverables.
- Draft contractual provisions based on strategy discussions, senior management input, and organizational needs and expectations.
- Assure accuracy and appropriateness of contract text and attachments.
- Interface with insurance companies regarding adequacy of coverage and purchasing needs.
- Serve as primary organizational contact during contract negotiations.
- Engage relevant stakeholders in negotiation decisions involving legal or regulatory requirements, contract standards and cost targets.
- Develop and execute negotiation strategies that minimize potential losses and benefit the healthcare organization’s financial performance.
- Maintain deadlines on deliverables and communicate on an ongoing basis with business partners and internal clients about contractual issues.
- Review contractual performance of both parties to ensure compliance with terms and to identify conflicts or changes requiring resolution at contract renewal.
The roles of Contract Managers are evolving continuously in various business sectors globally with evolvement of the contract management function itself. As the world economies experience increased economic activity and with globalization, the role of Contract Managers tend to undergo changes, adjustments, additional scope and coverage as necessitated by the industries in future.