Many hospitals find tremendous benefits in outsourcing the management of their agency vendors in a service known as vendor management. This is an arrangement where the client enters into an agreement with a single vendor, which then becomes the Prime Vendor. The Prime Vendor then enters an agreement with other agency vendors of the client’s choosing.
After that arrangement is established, all of the orders, scheduling, credentialing, and invoicing is coordinated by the Prime Vendor.
A Vendor Management Program has many benefits:
- Simplifies vendor management
- Reduces internal costs of managing a registry
- Reduces demands on unit manager’s time
- Centralizes credentialing management
- Consolidates detailed reporting on all agency activities
- Institutes a standardized contract for all staffing agencies
- Enables third party management of agency contract negotiations
- Replaces multiple invoices with one invoice from the Prime Vendor
RN & Allied Specialties’ Vendor Management Program is the choice for some of Indiana’s largest health systems. Learn more about how it can benefit your organization.