The Importance of Having a Physician Contract Management Policy

In today’s dynamic healthcare landscape, compliance with regulatory standards plays a pivotal role in the success of healthcare organizations. A critical aspect of maintaining compliance is efficient Physician Contract Management (PCM) and adherence to Contract Compliance protocols. 

In today’s article, we dive deeper into the importance of a Physician Contract Management Policy, focusing on elements like physician timesheets or physician time logs. This article will also highlight how a comprehensive Physician Contract Management Policy ensures contract compliance, protecting hospitals from potential legal and financial risks.

Ensuring Compliance and Efficiency Through a Physician Contract Management Policy

Clinician Contract Management and Compliance

An effective PCM policy encompasses various elements to ensure contract compliance while mitigating legal and financial risks. Some essential aspects to include in the policy are:

Legal Compliance

Clearly outline the legal requirements, such as Stark Law, Anti-Kickback Statute, and False Claims Act, to which all physician contracts must adhere. This ensures that the contracts are in line with federal and state regulations, safeguarding hospitals from potential violations and penalties.

Contract Approval Process

Detail a streamlined contract approval process that involves key stakeholders, including legal and compliance experts, to make certain all contracts are thoroughly vetted and meet the necessary compliance standards.

Compensation Guidelines

Incorporate fair and reasonable compensation guidelines for physicians, considering industry benchmarks and the nature of services rendered. This fosters transparency and helps avoid any compliance issues related to excessive or inadequate remuneration.

Read: Why Physician Compensation Executives are falling in love with AI-driven physician payment workflows

Conflict of Interest Disclosure

Implement protocols for physicians to disclose any potential conflicts of interest, thereby establishing transparency and enabling the management of such conflicts to meet compliance requirements.

Performance Monitoring

Regularly assess physician contract performance, using data from physician timesheets or physician time logs, to gauge compliance and address any concerns proactively.

Physician Invoicing and Contract Management

Incorporating physician invoices or timesheets into the PCM process can be a crucial component for contract compliance. By accurately tracking physicians’ work hours and activities, healthcare organizations can ensure that physician contracts align with industry standards and regulatory requirements.

To achieve this, a robust PCM policy should include provisions for physicians to maintain detailed and verifiable timesheets. These timesheets should record the time spent on patient care, administrative tasks, research, and any other relevant activities outlined in their contracts. Integrating these timesheets into the contract management process as well as into a physician medical billing software helps demonstrate compliance with contractual obligations and facilitates audits if required.

Healthcare compliance leaders should take time and effort to invest in a comprehensive PCM policy [you can find a free downloadable Physician Contract Management Policy template here]. This policy should include elements such as how physician invoices will be processed and how contract compliance not only enhances legal and financial security but also reinforces the organization’s commitment to ethical practices and patient-centric care. 

By emphasizing the significance of contract compliance in physician relationships, healthcare organizations can maintain their reputation, foster trust with patients, and stay ahead in the ever-changing healthcare industry.

If you’re interested in a great article on Strategic Contract Management and how it can impact physician onboarding, we highly recommend reading this article from Beckers Hospital Review.