We Compared the 4 Best Healthcare Contract Management Software

Helpful summary

• Overview: Healthcare contract management software is essential in simplifying workflows, storing complex contract documents, and ensuring compliance. This guide will introduce you to four of the best healthcare contract management software options available.
• Trustworthy Source: Our software recommendations are based on comprehensive comparisons of features, benefits, and practical applications in the healthcare industry.
• Why It Matters: Implementing contract management software in healthcare can lead to enhanced cost-effectiveness, operational efficiency, and better organizational workflows.
• Action Points: Our top picks are SignWell, ContractWorks, Sirion, and Contract Logix. They offer features like e-signature, document management, compliance tracking, and automated workflows.
• Further Research: Explore each software’s features, pricing, and support services to find the best fit for your healthcare contract management needs.

Want to Find the Best Healthcare Contract Management Software?

Healthcare contracts can be a hassle to manage, especially when you have to deal with complex regulations and tight deadlines. That’s why many healthcare service providers are looking for contract management software that can make their lives easier and their work more efficient.

In this SignWell guide, we’ll show you the top four healthcare contract management software that are rocking the industry. We’ll compare their features, benefits, and talk about how they can help improve your workflow.

Let’s get started.

Why Listen to Us?

SignWell is a cloud-based e-signature tool that has effectively simplified contract management for healthcare organizations. Our electronic signature solution integrates key features like document tracking, automated workflows, and secure storage, which are vital for managing sensitive healthcare contracts efficiently​​.

Our service is adaptable, with pricing plans suitable for different organization sizes, from personal use to enterprise solutions​​. Serving over 61,000 businesses, SignWell’s high customer satisfaction rate and extensive experience in the e-signing space give us a unique perspective on the specific needs of healthcare organizations.

What Is Healthcare Contract Management Software?

Healthcare contract management software is a tool that helps healthcare organizations handle contracts with providers and vendors, suppliers, payers, and other third-party organizations.

Healthcare contract management software tracks and follows up on contractual obligations throughout the agreement’s duration. This software enables healthcare institutions to simplify their workflows, store complex contract documents in the repository, and ensure compliance.

For example, SignWell offers businesses in the healthcare industry an intuitive e-signing solution that can streamline signing, simplify document storage and retrieval, and automate important document workflows—all while maintaining compliance.

Benefits of Healthcare Contract Management Software

Enhance Cost-Effectiveness and Operational Efficiency

Healthcare contract management software saves healthcare institutions time and money by automating contract processes, minimizing human error, and reducing the need for physical storage of documents. With an organized system in place, healthcare organizations can easily access and manage their contracts, making them more cost-effective and efficient.

Optimize Organizational Workflows

On a related note, healthcare contract management software can also optimize organizational workflows by automating and streamlining important document processes. With the click of a button, contracts can be sent for e-signatures, tracked for progress, and stored in a centralized location. 

This saves time and ensures that all contracts are properly managed and executed.

Improve Your Bottom Line

As a result of the benefits above, this technology also leads to improvements in bottom lines for healthcare organizations. 

Roughly 54% of businesses anticipate ROI within 12 months after implementing document workflow automation. This is due to the decrease in manual labor and paper-based processes, resulting in cost savings and increased productivity.

Criteria To Consider When Choosing A Healthcare Contract Management Software

Compliance Focus

Healthcare businesses are usually subject to strict regulations like HIPAA, SOC 2 Type 2, and other industry-specific guidelines. It’s essential to choose a contract management software that’s compliant with these regulations, ensuring the safety and security of sensitive patient information.

User-Friendly Interface

A user-friendly interface is crucial when considering any tool, including healthcare contract management software. This allows for easy navigation and adoption by all users within the organization, regardless of their technical proficiency.

Customizability And Scalability

Every healthcare organization has unique needs when it comes to managing contracts. A good contract management software should offer customizable features that allow businesses to tailor the platform based on their specific requirements. Additionally, scalability is essential as organizations grow and processes evolve.

Top 4 Healthcare Contract Management Software

1. SignWell
2. ContractWorks
3. Sirion
4. Contract Logix

1. SignWell

SignWell is an e-signing tool that offers healthcare organizations a secure and efficient way to manage contracts.

With features like document templates, automated reminders, and audit trails, SignWell streamlines the entire contract management process. It also integrates with over 5,000 popular tools like Salesforce, Lark, and Formstack so that you can automate and centralize contract management tasks.

SignWell is fully compliant with HIPAA, SOC 2 Type 2, GDPR, and more, ensuring that your sensitive healthcare contracts are kept safe and secure.

Key Features

• E-Signature API: Integrate SignWell with your existing healthcare technology stack for seamless e-signing capabilities.
• Document Templates: Create standardized templates for frequently used contracts to save time and reduce errors.
• Automated Reminders: Set up automatic reminders for contract deadlines, ensuring that no important dates are missed.
• Audit Trails: Keep track of all contract activities with detailed audit trails, providing transparency and accountability.
• Document Workflows: Set signing orders, automate reminders, and keep the signing process moving smoothly.
• Document Management: Get an overview of signed and unsigned contracts, as well as access to all contract documents in one centralized location.
• Secure Storage: Your contracts are stored in a secure and encrypted cloud storage system, ensuring their safety and confidentiality.
• Compliance: Ensure compliance with a range of industry and legal regulations.

Pricing

SignWell offers a free plan that supports 1 sender and 3 documents per month.

There are also three paid plans—Personal, Business, and Enterprise. Personal ($8/month) includes features like 1 sender, 5 templates, and unlimited documents. Business ($24/month) offers additional features like 3 senders (with the option to add more for $8 each) and unlimited templates.

Enterprise (custom) includes unlimited senders, templates, and documents, along with other advanced features.

Pros & Cons

Pros

• Budget-friendly
• Offers a free plan
• Easy to set up and use
• Follows industry e-signature standards
• Seamlessly integrates with 5,000+ apps like Dropbox and Slack

Cons

• Users cannot edit documents within the application.

2. ContractWorks

ContractWorks offers features to simplify and streamline the management of healthcare contracts.

The software aims to help healthcare organizations stay compliant, track obligations, and secure their agreements with Amazon Web Services (AWS) technology. It also allows users to store, search, and access contracts from a centralized repository.

Key Features

• Compliance Tracking: Ensure adherence to regulations with a system designed to keep you on track and informed of key dates and details.
• Alerts and Notifications: Offers customizable alerts and notifications to remind you of important deadlines, renewals, and other contract milestones.
• Robust Search Functionality: Easily search for keywords, clauses, and details within your contracts.

Pricing

ContractWorks offers three pricing plans for their contract management software. 

Standard ($700/month) includes unlimited users, 2,500 documents, and 5 electronic signature licenses. Professional ($900/month) includes unlimited users, 10,000 documents, and 10 electronic signature licenses.

Premium ($2,000/month) includes drafting, redlining, and workflows for companies looking to scale to a full Contract Lifecycle Management (CLM) system.

Pros & Cons

Pros

• User-friendly interface
• Automatically tags each document into specific categories.
• Users can create and save unique signatures within the platform 
• Offers transparent pricing 

Cons

• Lacks the capability to edit documents and share redlines within the platform
• Limited number of administrative users 
• Improvement needed for approval modules
• Users may find it too easy to accidentally sign off the system by closing the browser

3. Sirion 

Sirion supports smarter contracting through comprehensive task automation. It also offers complete visibility into the contract portfolio, ensuring compliance with various healthcare regulations, and uses AI contract intelligence to assess and address risk elements within contracts.

With intelligent self-service contracting, AI-powered features, and automated digital workflows, Sirion minimizes risk and enhances control over contractual obligations, milestones, and renewals.

Key Features

• Smarter Contracting: It offers advanced capabilities for smart contracting, automating administrative tasks throughout the healthcare value chain.
• Complete Visibility: It provides complete visibility into the contract portfolio, ensuring compliance with applicable laws and regulations. 
• Risk Management: It helps uncover risk elements buried within contracts, assess their probable impact, and take corrective action with data-driven insights.

Pricing

Contact sales for a quote.

Pros & Cons

Pros

• Straightforward and easy to use
• Robust vendor management 
• Provides a single source of truth for contracts
• Flexible in integration with other applications

Cons

• Steep learning curve
• Some operations take a long time

4. Contract Logix

Contract Logix offers a modern, digital, and mobile-friendly solution that you can access from any web browser. With document storage and search capabilities, automated workflows for faster contract approvals, and tools for ensuring regulatory compliance, it’s a powerful contract management solution for the healthcare industry.

Plus, Contract Logix facilitates visual contract workflows, real-time collaboration, and seamless integration with other enterprise systems to add to the time-saving benefits.

Key Features

• Digital Contract Repository: Store contracts in a secure, centralized location with easy access for authorized users.
• Regulatory Compliance: Ensure compliance with industry regulations and internal policies through automated alerts and reminders.
• Visual Contract Workflows: Build custom workflows and track contract progress in real-time, improving efficiency and reducing errors.

Pricing

Contact sales for a quote.

Pros & Cons

Pros

• User-friendly, aided by an abundance of helpful icons.
• Offers impressive customization options.
• Facilitates the automation and streamlining of the entire contract lifecycle. 

Cons

• Occasional slowdowns and crashes in the performance of the online-hosted module.

Conclusion

Healthcare contract management software is a powerful tool for healthcare organizations that need to manage their contracts efficiently and effectively. But choosing the right software is tough—the four tools on this list are among the best, and they all offer solid functionality and features.

If you’re looking for an intuitive, secure e-signing tool, SignWell is the ideal choice. With its user-friendly interface, pay-as-you-go API, and automated workflows, SignWell makes it easy to create, negotiate, and execute contracts in a timely manner. 

Sign up for free today and see the benefits for yourself.