Why Are Vendor Management Systems Essential?

Vendor management systems (VMS) are an increasingly popular and essential tool to recruit talent. A VMS helps streamline the process of finding and hiring qualified personnel, reducing costs and improving efficiency. Healthcare facilities can make the most of their resources by leveraging technology and ensuring they get the best people for the job.

What Is a Vendor Management System for Healthcare Facilities?

A healthcare VMS is a web-based software system that helps manage external staffing and vendor networks. In the past, healthcare organizations have had to deal with multiple vendors for multiple services. This approach was often time-consuming, frustrating, and inefficient. Now, a healthcare VMS allows facilities to work with multiple vendors on a platform where the data is all in one place. These systems streamline recruitment through an online job board, tracking educational requirements, certifications, and licenses.

• What Are the Signs You Need a Vendor Management System?

As a healthcare facility looking to recruit top talent, you might have a laundry list of business processes and teams to manage. Complexity and cut-throat timelines are the reality of our world today. That’s where a vendor management system comes in. A VMS ensures all the right people are in the right place at the right time, even when you have to expand or contract due to volume.

Here are some signs that you should consider investing in a VMS:

• You’re having difficulty finding qualified candidates for open positions
• Your hiring process is too slow and inefficient
• You don’t have a unified view of your open positions
• You’re struggling to stay compliant with regulations and laws
• You need to improve overall cost savings and time management

The Benefits of Vendor Management Systems Staffing

Vendor Management Systems (VMS) are essential for healthcare facilities because they provide a comprehensive, automated solution to manage their staffing needs. Implementing one into your recruitment strategy can optimize your process and build a more direct line to staffing agencies and potential candidates. The most common benefits include:

• Reduced Time to Hire

A VMS automates manual processes such as job postings, applicant tracking, and onboarding. This allows organizations to quickly and consistently share information about open positions and company culture across their entire workforce. By streamlining the recruitment process, a VMS ensures qualified candidates receive timely introductions to hiring managers. This ultimately helps healthcare facilities hire new talent faster and more efficiently in the competitive market.

• Enhanced Talent Acquisition

A VMS enables healthcare facilities to easily search for the best candidates. The system can store and organize applicant data, allowing recruiters to review resumes and match them against job postings. They can also track metrics, such as time to fill and cost per hire, to gain additional insight into the onboarding process. By leveraging a VMS, healthcare facilities can quickly uncover top talent and move forward with hiring decisions.

• Improved Compliance

The VMS can store data on background checks, certifications, and other documents needed for onboarding a new employee to reduce the risk of errors and noncompliance with state and federal regulations. It can also track when certifications are due to expire, so managers know if an employee has lapsed on their training. This allows for greater compliance with regulations like OSHA’s Bloodborne Pathogens Standard, which requires employers to train employees who come in contact with bloodborne pathogens.

• Better Collaboration

Vendor management solutions help employers identify critical vendors that may not be as visible when categorized in greater vendor groups. These systems provide enhanced collaboration tools that allow employers to communicate more effectively with potential and current vendors. This helps employers find the best ones for accomplishing their business goals, streamline the process of identifying and executing contracts, and ensure consistent delivery of services.

• Vendor Risk Management Tools

VMS risk assessments give employers a list of potential hazards, such as financial problems, customer service issues, and contractual infractions. The reviews also allow employers to perform pre-employment screenings on third-party providers to make more informed decisions when hiring new vendors and managing existing relationships.

• Cost Savings

Implementing management tools allow facilities to monitor and control costs. These systems keep vendors accountable to their pricing by providing a more consistent and fair review process. Furthermore, they rank vendors in order of cost efficiency, presenting the most cost-effective solution for each situation. This practice helps facilities manage their spending while maintaining flexibility, while the more accurate view of costs allows for better budgeting and forecasting.

Connect With Expedient VMS and Discover the Power of a Top Vendor Management System

Expedient VMS understands that you have a vision for your contingent workforce. We have built our healthcare VMS solution to help you quickly identify, engage, onboard, and retain qualified healthcare professionals with diverse skill sets.

We connect healthcare facilities, vendors, and clinicians with the resources to serve patients and clear professional obstacles. Our fully-integrated lifecycle management platform allows you to manage all facets of your contingent workforce, from recruiting to compliance. Ready to experience the benefits of a well-structured vendor management system? Reach out today.