# Vendor Management * **Definition:** The process of overseeing and coordinating relationships with third-party vendors and service providers to ensure that services and products are delivered effectively, efficiently, and in compliance with relevant standards and regulations. * **Taxonomy:** CTO Topics / Vendor Management ## News * Selected news on the topic of **Vendor Management**, for healthcare technology leaders * 7.4K news items are in the system for this topic * Posts have been filtered for tech and healthcare-related keywords | Date | Title | Source | | --- | --- | --- | | 5/21/2025 | [**M&S cyber attack disruption likely to last until July - Computer Weekly**](https://www.computerweekly.com/news/366624272/MS-cyber-attack-disruption-likely-to-last-until-July) | [[Computer Weekly]] | | 5/16/2025 | [**Smartlinx Joins Forces with StafferLink to Improve Healthcare Workforce Management**](https://thehealthcaretechnologyreport.com/smartlinx-joins-forces-with-stafferlink-to-improve-healthcare-workforce-management/) | [[Healthcare Technology Report]] | | 4/24/2025 | [**New Medicus Healthcare Solutions Report Explores the Surgeon Shortage**](https://www.prnewswire.com/news-releases/new-medicus-healthcare-solutions-report-explores-the-surgeon-shortage-302437808.html) | [[PR Newswire]] | | 4/9/2025 | [**PHARMASEAL and Mayet Announce Strategic Integration Partnership - PR Newswire**](https://www.prnewswire.com/news-releases/pharmaseal-and-mayet-announce-strategic-integration-partnership-302424428.html) | [[PR Newswire]] | | 3/10/2025 | [**Veteran Attorney David Navetta Joins Troutman Pepper Locke's Privacy and Cyber Practice**](https://www.prnewswire.com/news-releases/veteran-attorney-david-navetta-joins-troutman-pepper-lockes-privacy-and-cyber-practice-302397250.html) | [[PR Newswire]] | | 2/14/2025 | [**What You Need to Know About the Vendor Credentialing Market in 2025**](https://www.beckershospitalreview.com/cybersecurity/what-you-need-to-know-about-the-vendor-credentialing-market-in-2025.html) | [[Beckers Hospital Review]] | | 2/6/2025 | [**Lessen Launches Partnership with Property Meld to Revolutionize Vendor Management for Residential Property Managers**](https://www.businesswire.com/news/home/20250206719006/en/) | [[Business Wire]] | | 2/6/2025 | [**Lessen Launches Partnership with Property Meld to Revolutionize Vendor Management for Residential Property Managers**](https://www.businesswire.com/news/home/20250206719006/en/Lessen-Launches-Partnership-with-Property-Meld-to-Revolutionize-Vendor-Management-for-Residential-Property-Managers/) | [[Business Wire]] | | 2/4/2025 | [**Information Services Market to Grow by USD 182.8 Billion by 2029, Use of Services for Risk ...**](https://www.prnewswire.com/news-releases/information-services-market-to-grow-by-usd-182-8-billion-by-2029--use-of-services-for-risk-management-boosts-market-ai-powered-market-evolution-report---technavio-302367701.html) | [[PR Newswire]] | | 2/1/2025 | [**UPMC: Reducing security risks for patient data in the cloud**](https://www.healthcareitnews.com/vmware/upmc-reducing-security-risks-patient-data-cloud) | [[Healthcare IT News]] | | 12/17/2024 | [**PaymentWorks Announces Award Winners During Second Annual Vendor Management ...**](https://finance.yahoo.com/news/paymentworks-announces-award-winners-during-134900151.html) | [[Yahoo Finance]] | | 12/13/2024 | [**IT Professional Services Market to Expand by USD 621.4 Billion (2024-2028), Digital ...**](https://www.prnewswire.com/news-releases/it-professional-services-market-to-expand-by-usd-621-4-billion-2024-2028-digital-transformation-drives-growth-ai-powered-report-on-market-trends---technavio-302330772.html) | [[PR Newswire]] | | 12/13/2024 | [**Title: Navigating the Generative AI Journey: A Strategic Roadmap for Healthcare Organizations**](https://blogs.perficient.com/2024/12/13/title-navigating-the-generative-ai-journey-a-strategic-roadmap-for-healthcare-organizations/) | [[Perficient Healthcare]] | | 12/4/2024 | [**Third-Party Oversight: Risk Management And Team Alignment**](https://www.forbes.com/councils/forbestechcouncil/2024/12/05/third-party-oversight-risk-management-and-team-alignment/) | [[Forbes]] | | 11/20/2024 | [**Optimatum Launches New White Paper Revealing Hidden Opportunities in Vendor Management for Employer Sponsored Healthcare**](https://www.prnewswire.com/news-releases/optimatum-launches-new-white-paper-revealing-hidden-opportunities-in-vendor-management-for-employer-sponsored-healthcare-302310877.html) | [[PR Newswire]] | | 11/12/2024 | [**5 Hospital Stocks Set to Thrive Amid Robust Industry Trends - Nasdaq**](https://www.nasdaq.com/articles/5-hospital-stocks-set-thrive-amid-robust-industry-trends) | [[Nasdaq]] | | 11/12/2024 | [**Post-Roe, Your Period App Can - And Will - Be Used Against You - Forbes**](http://www.forbes.com/sites/abigaildubiniecki/2024/11/12/post-roe-your-period-app-can---and-will---be-used-against-you/) | [[Forbes]] | | 11/11/2024 | [**5 Hospital Stocks Set to Thrive Amid Robust Industry Trends - Yahoo Finance**](https://finance.yahoo.com/news/5-hospital-stocks-set-thrive-170200996.html) | [[Yahoo Finance]] | | 9/28/2024 | [**Weekly Roundup - September 28, 2024 - Healthcare IT Today**](https://www.healthcareittoday.com/2024/09/28/weekly-roundup-september-28-2024/) | [[Healthcare IT Today]] | | 9/27/2024 | [**Vendor Management and Data Security: Strengthening Your Weakest Link**](https://www.healthcareittoday.com/2024/09/27/vendor-management-and-data-security-strengthening-your-weakest-link/) | [[Healthcare IT Today]] | | 9/4/2024 | [**Charting the Course for a Tech-Driven Future in Talent Management**](https://www.beckershospitalreview.com/hr/charting-the-course-for-a-tech-driven-future-in-talent-management.html) | [[Beckers Hospital Review]] | | 8/19/2024 | [**A gold medal for Olympic mobile coverage**](https://www.computerweekly.com/ezine/Computer-Weekly/A-gold-medal-for-Olympic-mobile-coverage) | [[Computer Weekly]] | | 7/29/2024 | [**FinTech Leader 100GROUP Hosts 2nd Annual Retreat Focused on Team Building and Innovation**](https://www.prnewswire.com/news-releases/fintech-leader-100group-hosts-2nd-annual-retreat-focused-on-team-building-and-innovation-302208929.html) | [[PR Newswire]] | | 6/21/2024 | [**New EU (European Union) GMP (Good Manufacturing Practice) Annex 1: Compliant Aseptic Operations Training Course (ONLINE EVENT: November 26-28, 2024) - ResearchAndMarkets.com**](http://www.businesswire.com/news/home/20240621886829/en/New-EU-European-Union-GMP-Good-Manufacturing-Practice-Annex-1-Compliant-Aseptic-Operations-Training-Course-ONLINE-EVENT-November-26-28-2024---ResearchAndMarkets.com/?feedref=JjAwJuNHiystnCoBq_hl-RLXHJgazfQJNuOVHefdHP-D8R-QU5o2AvY8bhI9uvWSD8DYIYv4TIC1g1u0AKcacnnViVjtb72bOP4-4nHK5ieT3WxPE8m_kWI77F87CseT) | [[Business Wire]] | | 12/13/2023 | [**6 Best Mid-Cap Tech Stocks to Buy Right Now**](https://money.usnews.com/investing/articles/best-mid-cap-tech-stocks-to-buy-now) | [[US News]] | ## Topic Overview (Some LLM-derived content — please confirm with above primary sources) ### Key Players - **Optimatum**: A company specializing in vendor management for the HR supply chain, focusing on enhancing financial performance, operational transparency, and accountability. - **FDA**: Implementing a 10-year IT acquisition strategy to centralize vendor management and enhance procurement efficiency. - **Trio VMS**: Provides AI-driven Vendor Management Software to streamline staffing processes in healthcare. - **ISN**: A leader in contractor and supplier information management services, enhancing contractor and vendor management processes. - **RepScrubs**: A platform providing automated scrubs dispensing to improve compliance for perioperative vendors. - **CobbleStone Software**: Recognized leader in Contract Lifecycle Management (CLM) software, providing solutions for vendor management and contract tracking. - **Payouts.com**: Offers advanced automation solutions for vendor management, optimizing accounts payable and enhancing payout processes. - **CHG Healthcare**: Launched Nursesmart, a vendor management system for nurse staffing, enhancing efficiency and transparency. - **Healthfuse**: A revenue cycle management vendor that utilizes technology and analytics to enhance vendor management for healthcare providers. - **JJJ International, Inc.**: A leader in integrated workforce management, focusing on AI-enabled workforce solutions and Vendor Management Systems. - **symplr**: A technology company that supports healthcare organizations in vendor credentialing and contract management. - **Nectar iQ**: A technology-driven solution enhancing supply chain visibility and vendor management for small to medium-sized businesses. - **Cleveland Clinic**: A leading healthcare institution focusing on improving financial viability through efficient vendor management. - **Sims Lifecycle Services (SLS)**: Recognized as a Representative Vendor in IT Asset Disposition, focusing on data security, sustainability, compliance, and value return. - **Valer**: A company specializing in customized prior authorization solutions for healthcare settings. - **North American Partners in Anesthesia (NAPA)**: Offers management services to help health systems manage anesthesia services effectively. - **Hallmark**: Strengthened its team to enhance customer success and vendor partnerships in healthcare workforce management. ### Partnerships and Collaborations - **Lessen and Property Meld**: Partnership to improve vendor management for property maintenance operations. - **PHARMASEAL and Mayet**: Integration partnership to enhance clinical trial management and vendor management. - **CobbleStone Software and Wound Care Advantage**: Partnering to enhance contract management processes through CobbleStone's software. - **Trio Workforce Solutions and a major health system**: Partnering to transform workforce management strategies through a Managed Services Provider model. - **ProviderTrust and Ntracts**: This partnership aims to enhance visibility for healthcare organizations regarding their vendors' payment eligibility throughout the contracting process. - **Clariant and ISN**: Clariant has chosen ISN to enhance its contractor and vendor management processes, focusing on safety and efficiency. - **CobbleStone Software and Legal Tech Talent Network**: Providing training and staffing services to enhance contract lifecycle management. - **LogicSource and Cleveland Clinic**: Collaborating to improve non-clinical procurement practices by applying benchmarks from other industries. - **GHX and RepScrubs**: Integration to enhance compliance in perioperative attire for vendors in hospitals and surgery centers. - **Trio VMS and IntelyCare**: A strategic partnership to provide healthcare facilities with on-demand access to credentialed clinicians, addressing workforce shortages. - **InTandem Capital Partners and Healthfuse**: InTandem is acquiring Healthfuse to enhance vendor management capabilities in revenue cycle management. - **Keena Healthcare Technology and Valer**: A strategic partnership aimed at enhancing the efficiency of prior authorization processes in healthcare organizations. - **Redox and QHIN**: Joining a qualified health information network to enhance data sharing and vendor management. - **symplr and IntelliCentrics**: Integration following acquisition to improve credentialing processes across the healthcare sector. - **Verisma and Olah Healthcare Technology**: An acquisition to enhance capabilities in intelligent health data management solutions. - **Healthfuse and InTandem Capital Partners**: Strategic equity investment to support hospitals and enhance vendor performance. - **Atrium Health and Epic**: Collaboration to develop a digital payment platform transitioning from paper billing to online systems. - **Samplemed Group and dacadoo**: A strategic partnership to enhance health data analytics through the integration of dacadoo's Risk Engine. - **Aya Healthcare and Cross Country Healthcare**: An acquisition aimed at combining tech-enabled workforce solutions to enhance service offerings. ### Innovations, Trends, and Initiatives - **Nectar iQ**: A robust vendor management system aimed at enhancing visibility and access across business networks. - **Optimatum's White Paper**: Highlights the potential of strategic vendor management to improve HR operational efficiency and employee satisfaction. - **Third-Party Risk Management (TPRM)**: A systematic approach to identifying and mitigating risks associated with vendors and suppliers. - **AI in Vendor Management**: AI applications are being integrated into vendor management systems to streamline labor procurement and enhance operational efficiency. - **AI-Driven Features by SOVRA**: Upcoming features aimed at addressing procurement challenges, including vendor management and compliance. - **Vendor Accountability Focus**: The white paper by Optimatum emphasizes the importance of optimizing vendor relationships to improve HR operational efficiency and employee satisfaction. - **Contract Management Software**: CobbleStone Software's whitepaper emphasizes the importance of effective contract management software in healthcare to avoid delays and improve financial performance. - **Nursesmart by CHG Healthcare**: A next-generation vendor management system designed for nurse staffing, providing data-driven insights and operational efficiency. - **CobbleStone's Contract Insight**: A platform that streamlines contract and vendor management processes with features like automated workflows and document tracking. - **FDA's OneFDA Initiative**: Aims to modernize vendor management and procurement processes through AI integration and centralized strategies. - **Pareo Partner Exchange**: An integrated ecosystem launched by ClarisHealth to streamline vendor management and reduce administrative costs for health plans. - **GenAI in Procurement**: High-impact enterprises are exploring generative AI to enhance procurement efficiency and vendor management. - **Digital Transformation**: Digital solutions are transforming agreement management, reducing human error and delays, and improving cash flow management. - **ISG Provider Lens Report**: A research study initiated by Information Services Group to analyze providers within the modern procurement services ecosystem, set to be published in April 2025. - **Digital Blueprint**: A strategic approach for healthcare organizations to streamline processes and enhance operational efficiency. - **LotusOne**: A workforce optimization platform launched by Aya Healthcare, utilizing AI and machine learning for staffing management. - **LotusOne by Aya Healthcare**: A workforce optimization platform utilizing AI and machine learning for staffing needs forecasting and schedule optimization. - **AI-Enabled Workforce Solutions**: JJJ International aims to enhance its staffing technology platform to optimize workforce management and reduce HR costs by 50%. - **Generative AI in Healthcare**: Potential to enhance care delivery and operational efficiency, requiring strong data foundations and governance frameworks. ### Challenges and Concerns - **Vendor Management Software Limitations**: Concerns over vendor neutrality and potential biases in Managed Service Providers (MSPs) affecting fair access to staffing resources. - **Complexity of Vendor Management**: The increasing reliance on vendors for automation and AI tools necessitates clear contracts and accountability metrics to mitigate risks like service disruptions and cyberattacks. - **Compliance and Credentialing**: Ensuring adherence to credentialing requirements and managing vendor compliance effectively. - **Operational Bottlenecks**: Challenges in managing vendor relationships and ensuring compliance amidst evolving regulatory landscapes. - **Vendor Dependency and Contractual Stagnation**: Challenges faced by health systems in managing workforce needs effectively, leading to the need for strategic partnerships. - **Consolidation in Vendor Credentialing**: Concerns about rising costs and reduced innovation due to consolidation in the vendor credentialing market. - **Regulatory Compliance**: Organizations must navigate complex regulations like GDPR and HIPAA, emphasizing the need for thorough vendor assessments. - **Operational Risks**: Healthcare organizations face various risks from third-party relationships, necessitating comprehensive risk management. - **Economic Uncertainty and Supply Shortages**: Procurement leaders are navigating challenges that impact efficiency and operational effectiveness in healthcare. - **Data Breaches and Vendor Risks**: Healthcare organizations face significant risks from third-party vendors, highlighted by incidents like the Change Healthcare breach. - **Cybersecurity Risks**: Hospitals remain vulnerable to cyberattacks targeting third-party technology companies, necessitating robust vendor risk management and incident response plans. - **Data Security Risks**: Healthcare organizations face increasing risks related to data breaches, especially with third-party vendors. - **Cybersecurity Threats**: Ongoing vulnerabilities associated with third-party suppliers, highlighted by incidents like ransomware attacks. - **Implementation Costs**: High costs associated with GRC platforms and the complexity of integrating advanced technologies. - **AI Governance**: Concerns about patient safety and compliance issues related to untested AI technologies. - **Staffing Shortages**: Healthcare organizations face significant challenges with high turnover rates and reliance on costly contract labor. - **Data Integration and Interoperability**: Challenges in data integration and interoperability are highlighted as major barriers to improving patient outcomes, with security concerns and vendor restrictions being significant issues. ## Related Topics [[Partner Management]]; [[Systems Management]]