Pharma-Care, Inc. streamlines its contracting processes with eSignLive electronic signatures
“Eliminating paper from our contracting and document delivery processes will significantly reduce the time, cost, and need to travel in order to negotiate and execute business agreements with our nearly 400 clients, while also creating a comprehensive audit trail of our agreements and correspondence with clients,” said Scott Blumberg, Chief Financial Officer at Pharma-Care.
Ranked as one of the fastest 5000 growing companies by INC. Magazine, Pharma-Care provides a wide range of services to its 365 private and 27 government-sector clients in New Jersey, New York, Connecticut and Pennsylvania. This includes educating clients on how to properly store and administer medication in long-term care and assisted living healthcare facilities; monitoring the efficacy, adverse reactions and side effects of drug regimen programs; medication therapy management (MTM); and developing cost containment and formulary management programs. Pharma-Care is also expanding its work with corporate and municipal clients on a medication risk avoidance program.By replacing its manual, pen and paper processes with the electronic capabilities provided by the e-SignLive service, Pharma-Care’s more than 50 consultants will no longer be required to travel to each of the almost 400 client offices or mail documents to clients in order to have yearly contracts renewed. Instead, the majority of clients will be invited to the e-SignLive service where contract documents will be presented for review and signing over the web.
“While savings on postage and travel will be in the thousands, the real benefit of using e-SignLive will be to free up our consultants to spend more time generating new business locally and supporting a new service offering that we plan to launch nationally in 2011,” said Blumberg. “Moving to paperless processing will effectively enable us to increase our revenues and client base at a much lower cost.”To support new business development efforts outside of New Jersey, Pharma-Care also plans to leverage the web and video conferencing capabilities that are available as part of their e-SignLive subscription. Because e-SignLive is integrated with IBM LotusLive, Pharma-Care will also have access to many online collaboration and social networking features that it can use with clients and prospects during the negotiation of contracts and agreements. In order to avoid situations like seasonal mail delays, lost mail or misplaced invoices, the consulting firm also plans to present correspondence and monthly invoices to clients using the e-SignLive service This will also allow Pharma-Care to better service customers that require expedited billing. And because e-SignLive records the entire web process from start to finish, including all web pages and documents that were presented to users, how long customers spent reviewing information, and all actions that that were taken, Pharma-Care will capture and reproduce stronger audit trail information and legal evidence than is possible with pen and paper.
“The value of our client contracts range from a few thousand dollars to millions of dollars,” said Blumberg. “The electronic evidence captured by the e-SignLive service will help us to mitigate risk during our yearly contracting processes, as well as keep accurate records of our business agreements throughout the year.”About Pharma-Care, Inc. Pharma-Care, Inc. was founded in 1976 and has grown to be the largest independent clinical pharmacy consulting firm in the state of New Jersey. Recently named to the Inc. 5000 fastest growing companies, Pharma-Care provides a wide array of services in the health care field. Pharma-Care deploys is pharmacists into private long term care, assisted living, adult medical day care facilities; state developmental, psychiatric and veterans homes as well as ambulatory surgical centers and dialysis units in order to monitor the storage and administration of medications. They also review patient charts for adverse reactions and side effects of medication programs, conduct medication therapy management reviews of medication regimens. These tasks are provided in order to maintain client compliance with federal and state regulatory requirements as well as to maintain and enhance patient safety. Pharma-Care is also working with corporations and municipalities to conduct medication assessments of workers in order to mitigate risk and enhance worksite safety protocols. About Silanis Silanis' solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world’s largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s on-premise, cloud and SaaS e-signature solutions eliminate manual, paper-based processing to enable e-commerce and e-government transactions to be executed fully electronically from start to finish.