The healthcare industry thrives on its dedicated workforce. However, managing a contingent workforce can be a complex and time-consuming task. Studies show that nearly 60% of healthcare organizations struggle with managing temporary staff, leading to inefficiencies, increased costs, and potential compliance issues. 1 This is where a Healthcare Vendor Management System (VMS) comes in.
A Healthcare VMS streamlines the entire contingent workforce management process, from onboarding and credentialing to scheduling, time tracking, and performance management. But with a growing number of VMS solutions available, how do you choose the right one for your hospital’s specific needs? This blog post is here to guide you through the evaluation process. Let’s dive in.
What is a Vendor Management System (VMS) in healthcare?
A Vendor Management System (VMS) is a cloud-based software solution specifically designed to streamline the management of contingent staff (temporary, contract, or freelance workers) within healthcare organizations. It functions as a centralized platform for sourcing, onboarding, scheduling, and managing temporary healthcare professionals such as travel nurses, locum tenens physicians, allied health professionals, and other specialized staff.
What are the benefits of using a Vendor Management System (VMS) in healthcare?
From reduced costs to enhanced patient care and a more productive workforce, a VMS can be a game-changer for your contingent workforce management strategy. Let’s delve deeper into the specific advantages a VMS can offer for your healthcare facility.
1. Streamlined processes and efficient sourcing: VMS automates tasks like requisitioning, candidate screening, and onboarding, minimizing manual effort and associated costs.
2. Potentially lower agency fees: Vendor neutrality ensures a competitive environment, potentially leading to reductions in agency fees by up to 10%. 2
3. Faster onboarding: AI-powered pre-screening and automated document management can improve onboarding efficiency by up to 50% allowing temporary staff to start working sooner.3
4. Better staff fill rates: Skills-based matching and real-time visibility into staffing needs ensure you find the right talent quickly, minimizing gaps and improving operational efficiency.
5. Automated tracking and reminders: VMS ensures timely credentialing and license verification for temporary staff, minimizing the risk of non-compliance issues and associated fines.
6. Real-time insights: VMS provides comprehensive reports and dashboards with key metrics on staffing costs, fill rates, and workforce performance. This data empowers data-driven decision-making for optimizing your contingent workforce strategy.
Healthcare VMS evaluation process
Choosing the right Healthcare Vendor Management System (VMS) for your hospital requires careful consideration. To simplify the evaluation process, we’ve created a flowchart to guide you through the key steps:
1: Define your needs
- Identify the types of contingent staff you require. For example – travel nurses, locums or allied health professionals.
- Analyze the current staffing challenges you want to solve such as slow onboarding, skills gaps or compliance concerns.
- Determine your budget and the level of customization you require for the VMS.
2: Research potential healthcare VMS
- Shortlist those Vendor Management Software that are specifically built for healthcare, that are vendor-neutral, use new technologies, have AI to automate redundant tasks, and have simplified UI and user experience.
- Research their functionalities, pricing models, and customer reviews.
- Look for vendors offering features that address your specific needs such as skills-based matching, automated resume parsing, or real-time staffing dashboards.
3: Request demos and proposals
- Request product demonstrations from shortlisted vendors.
- Ensure demos showcase functionalities relevant to your hospital’s workflow.
- Obtain detailed proposals outlining features, pricing, and implementation timelines.
4: Evaluate features and functionality
- Assess the VMS’s core functionalities such as onboarding, credentialing, time & attendance and performance.
- Evaluate advanced features such as business intelligence, mobile app access, and integration with existing systems.
- Prioritize features that directly address your identified pain points.
5: Vendor selection and negotiation
- Compare proposals and vendor capabilities side-by-side.
- Focus on vendors offering strong customer support and user training programs.
- Negotiate pricing and contract terms based on your specific needs and budget.
6: Implementation and ongoing support
- Collaborate with the chosen vendor on a smooth implementation process.
- Ensure data migration and user training are completed effectively.
- Establish clear communication channels for ongoing support and troubleshooting.
7: Track results and ROI
- Monitor key metrics to assess the VMS’s impact such as cost savings, improved staff fill rates and compliance adherence.
- Conduct periodic reviews to ensure the VMS continues to meet your evolving needs.
Must have features while choosing a healthcare VMS
With a clear understanding of your evaluation process, let’s delve into the essential features you should prioritize when assessing potential Healthcare VMS solutions. We’ll categorize them as “must-have” and “good-to-have” to help you distinguish between foundational functionalities and features that enhance your overall experience:
Must-have features:
1. Streamlined onboarding: A robust VMS should automate and expedite the onboarding process for contingent staff. This includes features for document management, and credentialing verification. Having solutions that integrate with your existing credentialing databases is an added advantage for seamless record management.
2. Skills-based matching: An effective VMS should efficiently match qualified contingent staff with open positions based on pre-defined skill sets and experience requirements. This ensures you find the right talent quickly, minimizing staffing gaps and improving patient care continuity.
3. Time & attendance tracking: Accurate timekeeping is crucial for managing payroll and ensuring compliance with labor regulations. A VMS should offer automated time tracking tools, allowing staff to clock in and out electronically with ease. Integration with your payroll system further streamlines the process.
4. Performance management: Evaluating the performance of contingent staff is essential for maintaining quality care standards. Your chosen VMS should provide tools for conducting performance reviews, capturing feedback, and maintaining performance records for future reference.
5. Compliance management: Healthcare organizations face stringent regulations regarding licensing, certifications, and background checks for temporary staff. A VMS can simplify compliance by automating tracking and expiration reminders for staff credentials and licenses, minimizing the risk of non-compliance issues.
6. Reporting and analytics: Data-driven decision-making is key to optimizing your contingent workforce strategy. A VMS should generate comprehensive reports on various aspects, including staffing costs, fill rates, and staff performance. These insights can help you identify areas for improvement and maximize the ROI from your VMS investment.
Good-to-have features:
1. Business intelligence & dashboards: Advanced VMS solutions offer real-time dashboards and business intelligence tools that provide a holistic view of your contingent workforce management. These features allow you to track key metrics, identify trends, and make data-driven staffing decisions.
2. Mobile app access: A mobile-friendly VMS empowers staff with greater flexibility and convenience. With a mobile app, contingent workers can access schedules, submit timesheets, and update personal information on the go, improving communication and streamlining administrative tasks.
3. Integration with existing systems: Seamless integration with your existing Hospital Information System (HIS), payroll system, and other relevant software can significantly enhance workflow efficiency. This eliminates the need for manual data entry and reduces the risk of errors.
4. Vendor neutrality: Ensure the VMS you choose operates with vendor neutrality. This means the platform should source and connect you with a diverse pool of qualified temporary staffing agencies, avoiding bias towards any specific provider.
Remember, the “must-have” features will form the foundation of your VMS selection criteria. However, “good-to-have” functionalities can significantly enhance your user experience and streamline your contingent workforce management.
Choosing AbilityStack Healthcare VMS: A streamlined solution for your staffing needs
By following these steps and carefully considering your specific requirements, you can make an informed decision when choosing a Healthcare VMS for your hospital.
AbilityStack Healthcare VMS offers a comprehensive solution that addresses all the critical aspects outlined above. Here’s what sets AbilityStack apart:
- Tailored for Healthcare: Designed specifically for the healthcare industry, AbilityStack VMS understands the unique needs of hospitals and temporary staffing management in this sector.
- Feature-Rich Platform: AbilityStack VMS boasts a robust suite of features, including automated workflows, in-depth reporting and analytics, seamless integrations with hospital systems, and a user-friendly interface.
- Vendor-Neutral Approach: AbilityStack VMS prioritizes vendor neutrality, ensuring you have access to the most qualified temporary staff from a vast pool of vetted vendors.
- Scalable and Secure: AbilityStack healthcare VMS is highly scalable, adapting to your evolving staffing needs. Moreover, AbilityStack prioritizes data security with robust security measures.
Ready to take control of your temporary staffing?
Implementing a Healthcare VMS like AbilityStack can revolutionize your temporary staffing management. Contact AbilityStack today to schedule a free demo and discover how our Healthcare VMS can empower your hospital to thrive in today’s dynamic healthcare landscape.
Sources:
- Staffing Industry Analysts’ “Healthcare Staffing: By the Numbers” report, 2023
- www2.staffingindustry.com/Research/Research-Reports/Staffing-Healthcare.
- www2.staffingindustry.com/eng/Editorial/Healthcare-Staffing-Report,