Strategic Partnership to Connect Healthcare Vendor Compliance and Contracting

Nashville, Tenn., Oct. 14, 2024 /PRNewswire/ — ProviderTrust, a leading healthcare data and technology company, announces a strategic partnership and alignment with Ntracts, a leading contract lifecycle management software for healthcare organizations. This partnership will improve compliance data hygiene and give healthcare organizations clear visibility into their vendors’ payment eligibility at contracting and throughout contract execution. Together, ProviderTrust and Ntracts will prioritize holding vendors accountable for healthcare compliance and the regulatory standards imposed on government lines of business.

“We are thrilled to partner with Ntracts to enable better connectivity between vendor compliance and contract management,” said Christopher Redhage, co-founder and managing partner at ProviderTrust. “These services are complimentary in the most effective way, enabling healthcare organizations to vet vendors throughout the contracting process and beyond, ensuring that vendors and their owners are not excluded at any time during their business relationship. This vendor strategy provides vital insights for risk-based decisions throughout the lifecycle of the vendor relationship, ensuring there are no surprises.”

The HHS Office of Inspector General (HHS-OIG) mandates that healthcare organizations refrain from doing business with “excluded or sanctioned” individuals or entities, which includes vendor networks of key suppliers such as durable medical equipment, contract employees, software and technology, janitorial services, etc. that are needed to effectively perform healthcare services. According to the OIG, if a healthcare provider contracts with a person or entity that is excluded by the OIG, “the provider may be subject to [Civil Monetary Penalties] liability if the excluded person provides services payable, directly or indirectly, by a Federal healthcare program.”

Since its founding, ProviderTrust has uniquely led the way in providing innovative solutions that uphold data integrity for ongoing exclusion monitoring of vendors, employees, and providers, continuously monitoring 10,000,000+ people and entities, specifically 3,600,000+ vendors, for compliance. ProviderTrust’s Comprehensive Vendor Compliance solution activates best practices in annual vendor data collection and ongoing exclusion monitoring of vendor populations, ensuring payment eligibility, vendor onboarding, and approval workflows, custom questionnaires and attestations, and identification of vendor ownership structure.

Ntracts’ contract lifecycle management (CLM) solution empowers healthcare organizations to mitigate risk, maintain compliance, and increase contracting efficiencies.  According to the American Hospital Association, the average-sized community hospital spends $7.6 million annually on administrative activities related to regulatory compliance and even more in fines if they experience a violation. In a heightened regulatory environment, healthcare organizations are prioritizing increased efficiency and risk mitigation, while continuing to drive down costs. Typical savings identified from contract consolidation amounts to an average of 10 percent of the total contract value.

The ProviderTrust and Ntracts partnership recognizes complimentary services so clients can gain a more complete view of their vendor relationships. This includes ensuring that financial arrangements are effectively contracted and timely compliance checks are completed ahead of vendor payment.

“This partnership with ProviderTrust exemplifies our commitment to our mission of delivering premier technology, services, and expertise through CLM by uniting their industry-leading vendor compliance monitoring with our robust contract lifecycle management platform,” said David Paschall, CEO of Ntracts. “Together, we are setting a new standard for how healthcare organizations should prioritize additional measures to efficiently and seamlessly obtain a comprehensive view of active, external parties and their associated contracts, furthering their adherence to industry regulations.” 

About ProviderTrust
ProviderTrust was founded in 2010 with a mission to create safer healthcare for everyone through OIG and state Medicaid exclusion monitoring. Today, the organization has developed the industry’s most accurate dataset for ongoing exclusion monitoring and primary source verification, serving the nation’s top health systems, payers, and pharmacy organizations. Our solutions monitor employees, vendors, provider networks, licenses, credentials, and more for OIG and state Medicaid exclusions, sanctions or disciplinary actions, license expirations, or suspensions. With a team of 100+ employees, our Nashville-based company has consistently been recognized as one of the Best Places to Work by Modern Healthcare, Inc. Magazine, and The Tennessean Top Workplaces, and the Nashville Business Journal.

To learn more, visit providertrust.com.

About Ntracts
Ntracts is the leading contract lifecycle management solution for healthcare organizations across the country. Driven by the expertise of dedicated contract compliance professionals, Ntracts optimizes the contract management process by identifying inefficiencies and mitigating compliance and financial risks, leading to enhanced operations in support of strategic initiatives.

Ntracts is committed to serving our customers’ compliance needs by continually incorporating built-in best practices that stay ahead of the ever-changing regulatory and technological landscape Ntracts accelerates the contracting process by facilitating contract origination, automatically routing contract requests, and notifying responsible parties of critical performance milestones and expiration dates. Ntracts also provides advanced, user-friendly reporting tools for compliance, auditing, and tracking needs. 

Driven by the expertise of dedicated contract compliance professionals and powered by the nation’s largest healthcare law firm, Hall Render, Ntracts has provided best-in-class, healthcare-focused contract lifecycle solutions to hospitals and healthcare systems for over 30 years.

Learn more at ntracts.com.

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SOURCE ProviderTrust Inc

HITRUST e1 Certification validates PayerAlly is committed to foundational cybersecurity controls and information risk management protecting healthcare information for their clients.

ORLANDO, Fla., Oct. 14, 2024 /PRNewswire/ — PayerAlly, a leading provider of strategic consulting in pharmacy benefits, today announced its healthcare claims (pharmacy and medical) data management infrastructure has earned certified status by HITRUST for foundational cybersecurity.

HITRUST e1 Certification demonstrates that the organization’s healthcare data management infrastructure is focused on the most critical controls to demonstrate that essential cybersecurity hygiene is in place. The e1 assessment is one of three progressive HITRUST assessments that leverage the HITRUST Framework (HITRUST CSF) to prescribe cyber threat adaptive controls that are appropriate for each assurance type.

“In today’s environment of healthcare breaches, it’s imperative that organizations, including benefit consultants like ours keep pace with current and emerging threats,” said Bill Guerci, Chief Operating Officer and Information Security Coordinator at PayerAlly. “We are pleased to demonstrate to our current and future clients our commitment to cybersecurity and data protection through HITRUST e1 Certification.”

“The HITRUST e1 Validated Assessment is a good tool for cyber-aware organizations like PayerAlly that want to build assurances and progressively demonstrate due diligence around information security and privacy,” said Robert Booker, Chief Strategy Officer at HITRUST. “We applaud PayerAlly for their commitment to cybersecurity and successful completion of their HITRUST e1 Certification.”

About PayerAlly
Pharmacy Benefit Consulting without Conflicts

PayerAlly media contact:
Will McHugh, President
800-515-2162
info@payerally.com 

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SOURCE PayerAlly LLC

MORRISVILLE, N.C., Oct. 14, 2024 /PRNewswire/ — As part of our commitment to community resilience and recovery, IEM International, Inc., a recognized leader in emergency management and disaster recovery, donated $100,000 to state-led hurricane relief funds in North Carolina and Florida. With deep ties to both states—our headquarters in North Carolina and a strong presence in Florida—we are proud to stand with state and local leaders and first responders in helping survivors rebuild their lives following the devastating impact of Hurricanes Helene and Milton.

IEM contributed $50,000 to the North Carolina Disaster Relief Fund to support recovery from Hurricane Helene, and $50,000 to the Florida Disaster Fund to support recovery from Hurricanes Helene and Milton.

Both states experienced significant damage and loss, with entire communities facing the daunting task of rebuilding. IEM has employees deployed across the Southeast to assist state and local governments in supporting and augmenting their response and recovery operations.

“The destruction caused by Hurricanes Milton and Helene left individuals, families, and communities with an overwhelming recovery ahead,” said Bryan Koon, IEM President and CEO. “We are honored to support the communities where we live and work. North Carolina and Florida are home to many of our team members, and our team is working closely with local leaders to ensure that these areas recover and rebuild stronger after the storms.”

“With over 40 years of experience in disaster recovery, IEM understands the long-term needs of communities facing recovery from catastrophic events. This donation is part of our broader commitment to building resilience nationwide,” said Madhu Beriwal, IEM Founder and Chairwoman.

“On behalf of Volunteer Florida, we would like to thank IEM for their generous financial support to the Florida Disaster Fund as we continue statewide recovery efforts following Hurricanes Helene and Milton,” said Josie Tamayo, CEO of Volunteer Florida. “Their contribution will provide critical resources to help rebuild the impacted communities.”

“We are deeply grateful to IEM for their generous $50,000 donation to the NC Disaster Relief Fund. Their commitment to helping government partners navigate the recovery process is invaluable. Together, we will not only rebuild but also create stronger, more resilient communities prepared for the challenges ahead,” commented Brittany Pruitt Fletcher, President and CEO, United Way of North Carolina.

About IEM
As the largest woman- and minority-owned management consulting firm in the world, IEM is at the forefront of building a safe, secure, and resilient world. Founded in 1985, IEM integrates science, technology, and real-world experience to provide our clients with innovative solutions and outcomes that matter. Our services encompass emergency management, homeland security, long-term disaster recovery, critical infrastructure, project and grants management, logistics, public health, digital citizen services, innovative technologies, and public engagement and outreach. For more information, visit iem.com.

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SOURCE IEM International, Inc.