Countersignature Contract Termination Letter Made Easy

Countersign administration agreement

[Music] welcome to contract administration at Stanford medicine a shared service of Stanford healthcare Lucile Salter Packard Children's Hospital at Stanford Stanford health care valley care and other Stanford medicine entities contract administration aspires to be the national leader in healthcare contract administration by providing exceptional and timely contract negotiation and legal review services an integral step in this process is how to request a contract which we've made a simple and efficient as possible for you to help you understand how to use our resources and process easily and effectively this video will cover an overview of our process our contract request form our contract approval form five additional considerations and resources available for your use on a 24/7 basis the contract lifecycle has four distinct phases intake business review legal review and administration the first phase in the contract lifecycle is intake in this phase contract administration receives requests to review or draft contracts stakeholders can start this process by completing a contract request form which is fast and easy first go to contract administrations website and click the request a contract button all requests for a contract require a completed contract request form which is a click-through digital form utilizing conditional logic complete the form by filling out all required sections marked by a red asterisk then click submit form to automatically route the form to contract administration for review and approval in the contract request form the section titled is a contract required determines just that if no is selected for each of the questions in this section no contract is needed yes is selected for any question proceed with completing the digital contract request form the contract information section explains the business need and confirms the business turn be sure to properly identify the start and end dates of the services always complete the vendor other party's section enter the legal name of the vendor and the vendors contact information to ensure this information is correct you can ask the vendor to provide an IRS w-9 form in the contracting entity insight section select all of the Stanford medicine entities participating in the contract and the address where the services will take place or the shipping destination for goods if the vendor provides a quote or proposal ensure that the vendor correctly lists the applicable Stanford medicine legal name and address on the document the shipping address and the name of the department or clinic can be specified elsewhere on the quote proposal or contract the responsible parties section is where you identify the primary and secondary responsible parties for the contract who should not be the same person the primary responsible party is the person who will oversee the transaction and manage the vendor the secondary responsible party is usually the immediate manager or supervisor of the primary responsible party they will also determine whether the contract should be renewed or terminated always take care when completing the compliance questions section responses to questions in this section determine whether contract administration will assist in obtaining required disclosures and approvals and compliance with internal policies and procedures if the contract involves paying a vendor for goods or services completes the finance section be sure to enter the financial terms the total aggregate value is the total expenditure under this contract for the duration of the contract for statements of work the total aggregate value is the expenditure under the particular statement of work for amendments the total aggregate value is the expenditure authorized by the new amendment if the total aggregate value of the contract is above a specific threshold the conflict of interest disclosure section must be completed if the total aggregate value of the contract is above a specific threshold and Stanford health care or Lucile Salter Packard Children's Hospital at Stanford as a party the purchase justification section must be completed complete the independent contractor questionnaire section if the vendor is an individual or if the business entity is owned by a sole owner who is the primary service provider upload an unsigned proposal or statement of work for a more detailed description of services once completed this section is automatically routed to the appropriate Human Resources department for approval if the request is for the purchase of medical equipment complete the purchase of equipment section once contract administration has reviewed and approved the contract and the vendor has signed contract administration will complete and sign the contract approval form which is a one-page executive summary of the contract it signifies that the contract is approved for a Stanford medicine entities signature the steps that were just outlined discuss the overall process for completing the contract request form but here are five additional considerations that are particular important one refer to the business associate decision tree on the contract Administration website to determine if the vendor has access to protected health information or pH I and if a business associate addendum is required to obtain capital approval if required 3 obtain IT approval for transactions involving software ID hardware or IT services for once the vendor signs be sure to obtain a contract approval form indicating that the document is approved and ready to be countersigned by the applicable Stanford medicine entity five submit the request as soon as possible timely submissions enable efficient management of deadlines and unforeseen constraints for further details about the contracting process each step is outlined in a single flowchart with supplementary information on subsequent pages this contract flowchart is on the contract Administration website with an exceptional team and an innovative process contract administration has truly revolutionized the way contracts are reviewed negotiated and managed within the healthcare industry contract administration has created a variety of educational tools that provide step-by-step instructions guidance and answers to questions to help make your job easier you'll find helpful training guides on numerous relevant topics on the contract administration website we hope you found this video helpful if you have any questions please don't hesitate to contact us [Music]