IRVING, Texas--(BUSINESS WIRE)--Labor accounts for 50% or more of a healthcare organization’s annual operating expenses and is a main driver in ensuring the delivery of high-quality care and patient safety. Achieving the appropriate balance of quality, safety and bottom line savings often requires the expertise of a strategic partner who is specialized in managing contract labor and can optimize a hospital’s staffing practices. In 2016, approximately 700 hospitals across the country, in over 100 distinct markets, partnered with Vizient’s Workforce Optimization Contract Labor Management Service to staff over 750,000 shifts, manage more than 12 million agency hours annually and drive over $250 million in contract labor savings in a typical contract cycle.
Formerly known as Workforce Solutions when part of the MedAssets’ supply chain management business, Vizient’s Workforce Optimization Services offer comprehensive Contract Labor Management to Vizient's member network. Contract Labor Management provides the nation’s largest Vendor-neutral Management Service (VMS) as well as customized Managed Service Provider (MSP) services to Vizient's members to meet all their clinical and non-clinical temporary staffing needs.
“Vizient Contract Labor Management is committed to delivering high value contract labor staffing solutions that span all clinical and non-clinical staffing needs across the entire continuum of care for our member network of academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers,” said Jack Datz, managing principal, workforce optimization for Vizient. “Our contracts offer members access to 94 percent of registered nurses working through agencies nationwide and on average, we are able to reduce the member’s spend by six percent for contract labor usage.”
Dedicated contract management, combined with sharing of best labor practices and the newly released next-generation procurement technology called Contract Labor OptimizerTM, enables Vizient to provide services that drive bottom line savings while supporting optimal patient care.
“Our Optimizer technology uses advanced reporting capabilities to benchmark performance, improve oversight and recognize improvement opportunities while offering members the insight of a trusted adviser and the direction of a strategic partner to drive costs down and quality up,” said Datz. The Optimizer technology empowers members with a user friendly, web-based platform that simplifies the staffing process by shortening the time between identifying staffing needs and fulfillment with highly qualified temporary labor that meets the members’ exact requirements.
”Our strategic sourcing and contracting expertise results in the best sustainable, competitive rates and terms for members — with over 600 high-quality staffing vendors who can deliver superior service and provide their best staff,” said Datz.
The Contract Labor Management portfolio is comprised of the nation’s leading staffing agencies as well as highly specialized, regional and local vendors and covers all staff types, including:
- Allied health
- Locum tenens
- Interim management
- Permanent placement
- Rapid response
- Disaster and strike response
Visit our website for more information about Vizient’s Workforce Optimization Contract Labor Management program.
About Vizient, Inc.
Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents almost $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as the recently acquired MedAssets’ Spend and Clinical Resource Management (SCM) segment, which includes Sg2. In 2016, Vizient received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.