A company with decentralized HCP contracting has many people managing different parts of the process. They may or may not regularly meet to check in, compare notes and look for improvement opportunities.
Assigning a process manager gives one person the responsibility of owning and improving an effective process. With one point of contact who oversees the entire project, all the pieces fit together seamlessly and consistently; that brings peace of mind as well as time savings because there is one consistent, known point of contact.
The person who will be successful in this role will focus simultaneously on timelines and resources. They will participate in internal coordination with stakeholders and support functions as well as external coordination with experts, their representatives, and potentially third-party vendors. The process manager will understand the process in its entirety (information needed, systems used, people involved) and look for opportunities to make minor tweaks and pre-emptively search out information that will increase efficiency and decrease timelines.
Managing an effective process also means being able to think globally. It requires knowledge of how the process changes across borders and what complexities exist for HCPs working internationally. The process manager should understand potential roadblocks to better understand, smooth out, or speed up the process. Being in a consistent business rhythm with all organizations that are responsible for process changes, requirement changes or new implementation of technology is an important part of the role as well.
Process coordinators may also be part of the team. This role is often the primary person who does compliance checks, contract approval and execution, general coordination, and record keeping. They may also create contracts, process invoices, and close out events.
The process manager and/or the process coordinator works with all departments that touch the contracting process—finance, legal, compliance, procurement, transparency, accounts payable, project owners, operations leadership, and key stakeholders. Frequent collaboration on day-to-day activities with departments that touch the contract process allows for consistent timelines, deadlines, change management, and general education on the process.
The process coordinator keeps business owners and the project manager informed by including them in correspondence with HCPs or institutions and letting them know when the contract is sent for signatures.
Holding weekly meetings to discuss the status of contracts and upcoming events is the best way to maintain consistency in the process. In these meetings, the process manager or coordinator reports on what stage a contract is in (review, signing, etc.) and discusses what issues might arise so the team can have a plan ready for when something goes wrong to get ahead of potential delays.
When all team members supporting the process hear the same message at the same time from the same person, it ensures that information is received accurately and consistently. And when everyone submitting information on a project knows the process and exactly what they need to provide to the process coordinator, there will be a much quicker start-to-finish time frame.
At Acceleration Point, we have established HCP Contracting as a Service Program. While processing an average of 4,000 contracts per client annually, we have driven many outcomes, including improved time to completion, consistent customer satisfaction, and 100% audit compliance ratings.
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