The pandemic has dramatically altered the relationship between price and demand related to healthcare staffing. Concurrently, health systems are facing mounting financial pressures and limited resources, preventing the ability to conduct the necessary and objective market rate analysis. This is where HWL excels, providing a vendor-neutral model that achieves competitive sourcing and rate negotiation while also offering full transparency into contingent labor costs. As mass vaccination sites continue to roll out nationwide, now is the time to explore vendor-neutral managed service providers (MSPs) and move away from supplier-driven MSPs that prioritize their own margin preservation.
Here’s Why Many Health Systems Are Going Vendor-Neutral
Deals that once seemed agreeable pre-pandemic can vanish when left with new "crisis" rates because no one supplier can fulfill staffing needs. By nature, supplier-driven MSPs are motivated to preserve margins at all costs—this can be problematic for health systems because there is little rate transparency and the time to fill mission-critical roles can be quite slow. This is not the case with a vendor-neutral MSP like HWL. As the leader in conducting objective market rate analysis and price valuations, HWL is in a unique position to act as an honest broker for clients. We don’t set prices to complement our own supply pool and our main focus is on saving hospital systems time and money so that you can focus on what you do best.
The Importance of Vendor-Neutrality During a Pandemic
A truly vendor-neutral MSP furnishes the most qualified talent at fair rates from numerous suppliers across the healthcare staffing ecosystem, something you can’t get when working with only one preferred vendor. This is especially important when in the midst of a health crisis and health systems are facing staffing shortages and reduced resources. By allowing suppliers to compete for business, hospitals and healthcare organizations have leverage to renegotiate rates and force transparency into spend.
The vendor-neutral model offers healthcare organizations the best of all worlds—lower costs, protection against liability, attention to safeguarding candidate information and a choice of the most skilled candidates.
A Tale of Two Models
An agency managed MSP benefits by filling as many jobs as possible internally before outsourcing. For example, an agency managed MSP enters a 3-year contract for which they are to fill 80% of positions. In this scenario, the agency-managed MSP will aim to keep 60% of the jobs internal. Anything less would result in them losing money. This isn’t the case when working with a vendor-neutral MSP.
In short, anything less than a vendor-neutral model will drive staffing fees up and prolong the hiring process—preventing hospitals from getting the crucial staffing support they need during COVID. In addition, have you ever noticed that your job orders are on page 17? An agency-managed MSP will often push the more desirable locations first.
When hospitals opt for an agency-managed MSP they are purchasing labor that is designed to limit supply putting the healthcare organization at a distinct disadvantage. Why go the traditional route when you could go vendor-neutral with access to a larger pool of candidates at a lower fee, quicker fill and less lead time?
Related reading, ‘Navigating Rate Economics Post in a Post-COVID Environment.’
What Makes HWL Vendor-Neutral?
- Even playing field for every participating vendor
- Competitive sourcing and rate negotiation
- Transparent vendor management technology (VMS)
- Commitment to agency candidate protection
How Does HWL Save You Time & Money?
- Signing on with HWL means 100+ committed staffing partners
- Procurement teams are able to review fewer contracts -- one contract gives access to 100+ partners
- Provide benchmark data across local, regional and national markets
- In-depth analysis of current bill rates
- Ability to have one set rate, tiered rate structures, or individual rates with each agency
- Period recommendations to adjust rates up and down at will backed by data
- Perform comprehensive market rate analysis
- Access to real-time reporting and business intelligence
The HWL Difference
Our scalable vendor-neutral model provides flexibility to add new vendors as needed or remove vendors that are underperforming. With HWL’s next-level technology and our vendor-neutral model, all vendors must compete on a level playing field—resulting in lower bill rates and higher quality of staff. Now is the time to take control of spending and avoid getting locked into one vendor for all of your critical staffing needs.
Allow us to demonstrate how we can help your organization turn real-time data and real-time staffing strategies into real-time results. Contact us at 833-HWL-INFO (833-495-4636) or firstname.lastname@example.org to learn more.