Many healthcare organizations still depend on outdated contract management modules bundled into broad healthcare management platforms. These systems, often described as mile-wide but inch-deep, lack the depth needed for modern contract lifecycle management (CLM).

Now is the time for healthcare providers to transition to AI-powered CLM. With automation, efficiency, and powerful contract insights, healthcare organizations can streamline operations, improve compliance, and reduce administrative burdens.

For years, many healthcare organizations have managed contracts using add-on modules within larger healthcare management platforms. These solutions often include patient scheduling, medical records management, and staff licensing, helping healthcare providers manage a range of operational needs beyond contracting.

However, unlike dedicated CLM solutions, these legacy tools lack AI-powered contract analytics. AI-powered contract management is already used in other industries, automatically pulling key details from contracts quickly and accurately, both before and after signing.

AI-driven CLM platforms send automatic renewal reminders, track credentials and licenses, provide compliance insights, and make audits easier. As a result, healthcare organizations are increasingly making the switch to AI-powered CLM. Those that haven’t yet done so are wise to start exploring the benefits they’re missing.

Legacy healthcare CLM solutions force teams to manually enter every data point, one by one, just to extract critical contract information.

Contracts contain valuable business information, but without the right system, it’s hard to find key details when needed. Most organizations fail to capture and act on this data because employees must manually read every document and spend long hours copying and pasting key information into various fields.

With an AI-powered CLM, simply uploading a contract triggers automatic data extraction. No manual effort is required. This is particularly important for healthcare providers with multiple locations who struggle to consolidate their documents and identify relevant data.

AI-powered CLMs organize contract documents into a searchable system in just days.

Many healthcare providers rely on public and private grants, which require regular audits to confirm that doctors, nurses, and other healthcare professionals have current credentials. Even the most robust manual tracking systems require employees to enter names, identify document types, and capture expiration dates.

An AI-powered CLM captures all this information instantly, so when an audit arises, your team is prepared—without the last-minute scramble. Plus, AI-driven alerts ensure no critical credential or license slips through the cracks.

Healthcare providers manage complex contractual rights and obligations with research organizations, universities, supply chains, and vendors. These agreements often include critical obligations like renewal deadlines, payment penalties, volume pricing, and rebates.

AI-powered contract management helps teams keep track of vendor agreements by monitoring deadlines, identifying risks, and ensuring they capture every discount, rebate, and compliance requirement.

Healthcare organizations need accurate contract visibility to comply with regulatory frameworks around data privacy (HIPAA, HITECH), staff licensures (a condition of HRSA), and Medicare and Medicaid (Stark Law and Anti-Kickback Statute).

Modern CLM solutions let legal and contract teams train AI to track exactly what matters—without IT support or costly consultants. Having the flexibility to monitor specific contract terms allows general counsels to quickly address the needs of data-hungry executives throughout their organization.

APIs enable organizations to choose the best tools for each function without compromising connectivity or data flow. While broad healthcare management solutions may claim that the only options are monolithic platforms or disconnected point solutions, this is a false choice.

Using APIs, healthcare providers can sync existing repositories and distribute AI-extracted contract data to virtually any system they use. This approach is especially beneficial for large-scale healthcare systems with multiple facilities, ensuring a unified view of contracts regardless of where the original documents are stored.

As AI-powered CLM continues to evolve, healthcare organizations will increasingly adopt these solutions to improve efficiency, accuracy, and compliance. Faced with growing demands—from regulatory response to data-driven risk management and cost containment—healthcare leaders need technology that keeps them ahead.

See how AI-powered CLM simplifies compliance and contract management. Evisort, a Workday company, can help. Request a demo today.