Ntracts is a comprehensive Contract Lifecycle Management (CLM) and Governance, Risk, and Compliance (GRC) platform designed exclusively for healthcare organizations, including health systems, hospitals, and physician groups. Founded in 1987 by the nation's largest healthcare law firm, Hall Render, the software embeds deep legal domain expertise to mitigate compliance and financial risks associated with contract mismanagement in the highly regulated healthcare sector.
Key Capabilities and Features:
- Contract Lifecycle Management (CLM): Provides a centralized, searchable repository for unlimited contracts and related documents, serving as a single source of truth.
- Workflow Automation: Streamlines the entire contract lifecycle from initiation and drafting to review, approval, and e-signature. It uses tailored intake surveys and decision-tree logic to automate contract templates, aiming for a 90% complete draft before human interaction.
- Compliance & GRC: Includes built-in compliance checking logic to enforce adherence to regulations like Stark Law and the Anti-Kickback Statute, as well as standards from DNV, Joint Commission, and CMS Conditions of Participation (CoPs). The platform also supports Business Associate Agreement (BAA) audits and administrative compliance.
- Policy Management: Centralized policy oversight, a trusted library of policies, and real-time regulatory alerts.
- AI-Enabled Data Extraction: Utilizes AI to extract key data points from contracts, improving reporting accuracy and enabling better contract performance monitoring.
- Integrated E-Signature: Ntracts is a DocuSign Certified Partner, allowing for integrated electronic signatures within the platform.
- Security & Visibility: Features include role-based security, a tamper-proof audit trail, and contract visibility to track status and bottlenecks.
Ntracts operates on an enterprise subscription model that includes unlimited users, unlimited contracts, and unlimited technical support from US-based experts, reflecting a focus on long-term partnership and high client retention (over 98%).
