# Vendor Selection * **Definition:** The process of evaluating and choosing suppliers or service providers for technology solutions within healthcare organizations. * **Taxonomy:** CTO Topics / Vendor Selection ## News * Selected news on the topic of **Vendor Selection**, for healthcare technology leaders * 857 news items are in the system for this topic * Posts have been filtered for tech and healthcare-related keywords | Date | Title | Source | | --- | --- | --- | | 5/23/2025 | [**Lyric Acquires ClaimShark to Expand Platform Value and Power Next-Gen AI Applications**](https://www.healthcareittoday.com/2025/05/23/lyric-acquires-claimshark-to-expand-platform-value-and-power-next-gen-ai-applications/) | [[Healthcare IT Today]] | | 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]] | | 5/8/2025 | [**When To Outsource - And How To Pick The Perfect Clinical Trial Partners**](https://www.clinicalleader.com/doc/when-to-outsource-and-how-to-pick-the-perfect-clinical-trial-partners-0001) | [[Clinical Leader]] | | 4/22/2025 | [**Global IoT Services Market Expected to Surpass USD 198.3 Billion by 2030 Driven by Smart Technology Integration and Industry 4.0**](http://prsync.com/maximize-market-research/global-iot-services-market-expected-to-surpass-usd--billion-by--driven-by-smart-technology-integration-and-industry--4725009/) | [[PRSync]] | | 4/18/2025 | [**Large Language Model Operationalization (LLMOps) Software Market Set for Explosive 21.3 ...**](https://www.prnewswire.com/news-releases/large-language-model-operationalization-llmops-software-market-set-for-explosive-21-3-cagr-growth--valuates-reports-302432536.html) | [[PR Newswire]] | | 4/16/2025 | [**Black Book Expands 2025 RCM KPI Framework to Capture AI, Outsourcing and Financial ...**](https://www.newswire.com/news/black-book-expands-2025-rcm-kpi-framework-to-capture-ai-outsourcing-22514396) | [[Newswire]] | | 4/10/2025 | [**Streamline Vendor Selection with Our Cloud Fax and Document Interoperability RFP ...**](https://www.healthcareitnews.com/resource/streamline-vendor-selection-our-cloud-fax-and-document-interoperability-rfp-template) | [[Healthcare IT News]] | | 4/8/2025 | [**AI in Psychotherapy: Revolutionizing Mental Health Care with Intelligent Solutions - Medium**](https://medium.com/@apoorv-gehlot/ai-in-psychotherapy-revolutionizing-mental-health-care-with-intelligent-solutions-d9192008e360) | [[Medium]] | | 4/1/2025 | [**Germany's EHR Market Faces Disruption Amid AI Caution, Regulatory Shifts and Vendor ...**](https://finance.yahoo.com/news/germanys-ehr-market-faces-disruption-120000698.html) | [[Yahoo Finance]] | | 3/25/2025 | [**AI Ambient Scribes Show Promise in Reducing Clinician Burnout, Research Reveals**](https://hitconsultant.net/2025/03/25/ai-ambient-scribes-show-promise-in-reducing-clinician-burnout/) | [[HIT Consultant]] | | 3/19/2025 | [**Health IT & CIO Report Archives - Page 285 of 294 - Becker's Hospital Review**](https://www.beckershospitalreview.com/newsletter-category/beckers-hospital-cio-report-e-weekly/page/285/) | [[Beckers Hospital Review]] | | 1/27/2025 | [**Payer-Provider Software: 5 Strategies for Smooth Sailing - HealthLeaders Media**](https://www.healthleadersmedia.com/revenue-cycle/payer-provider-software-5-strategies-smooth-sailing) | [[HealthLeaders Media]] | | 1/22/2025 | [**Driving Innovation Through Diversity, Equity, and Inclusion: Insights From Black Book ...**](https://www.newswire.com/news/driving-innovation-through-diversity-equity-and-inclusion-insights-22505560) | [[Newswire]] | | 12/27/2024 | [**Health Catalyst Introduces AI-Powered Cybersecurity Solution**](https://thehealthcaretechnologyreport.com/health-catalyst-introduces-ai-powered-cybersecurity-solution/) | [[Healthcare Technology Report]] | | 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]] | | 10/15/2024 | [**Caribou Becomes National Preferred Right at Home Partner for Rewards and Recognition**](https://homehealthcarenews.com/2024/10/caribou-becomes-national-preferred-right-at-home-partner-for-rewards-and-recognition/) | [[Home Health Care News]] | | 10/9/2024 | [**Enhancing Patient Care and Operational Efficiency in Healthcare With LLM Solutions**](https://www.prnewswire.com/news-releases/enhancing-patient-care-and-operational-efficiency-in-healthcare-with-llm-solutions-new-blueprint-from-info-tech-research-group-302271956.html) | [[PR Newswire]] | | 10/8/2024 | [**EasyVista Named Among Top Vendors in Research in Action's Vendor Selection Matrix™ - IT and Enterprise Service Management Solutions for Central European Enterprises 2024/2025**](http://www.businesswire.com/news/home/20241008596442/en/EasyVista-Named-Among-Top-Vendors-in-Research-in-Action%E2%80%99s-Vendor-Selection-Matrix%E2%84%A2-%E2%80%93-IT-and-Enterprise-Service-Management-Solutions-for-Central-European-Enterprises-20242025/?feedref=JjAwJuNHiystnCoBq_hl-Q-tiwWZwkcswR1UZtV7eGe24xL9TZOyQUMS3J72mJlQ7fxFuNFTHSunhvli30RlBNXya2izy9YOgHlBiZQk2LOzmn6JePCpHPCiYGaEx4DL1Rq8pNwkf3AarimpDzQGuQ==) | [[Business Wire]] | | 10/2/2024 | [**Embracing a Culture of Quality: Establishing and Maintaining Effective CRO Oversight, Upcoming Webinar Hosted by Xtalks**](https://www.prweb.com/releases/embracing-a-culture-of-quality-establishing-and-maintaining-effective-cro-oversight-upcoming-webinar-hosted-by-xtalks-302265213.html) | [[PRWeb]] | | 9/19/2024 | [**Our Day Expands Operations in Tennessee, Georgia, Virginia, and Washington D.C.**](https://finance.yahoo.com/news/day-expands-operations-tennessee-georgia-165600460.html) | [[Yahoo Finance]] | | 9/17/2024 | [**Healthcare IT Spending: Innovation, Integration, and AI - Bain & Company**](https://www.bain.com/insights/healthcare-it-spending-innovation-integration-ai/) | bain.com | | 9/4/2024 | [**Healthcare IT Consulting Market Detailed Analysis with Accurate Forecast to 2031 In New Report**](https://www.whatech.com/og/markets-research/it/875608-healthcare-it-consulting-market-detailed-analysis-with-accurate-forecast-to-2031-in-new-report.html) | whatech.com | | 8/20/2024 | [**C3 AI Recognized by Constellation Research for Cross-Category Leadership in Artificial Intelligence and Machine Learning Platforms**](https://finance.yahoo.com/news/c3-ai-recognized-constellation-research-150000747.html) | [[Yahoo Finance]] | | 6/18/2024 | [**Healthcare BPO Market Anticipates USD 626.6 Billion by 2029 with 9.7% CAGR - MarketsandMarkets**](https://www.prnewswire.com/news-releases/healthcare-bpo-market-anticipates-usd-626-6-billion-by-2029-with-9-7-cagr--marketsandmarkets-302175104.html) | [[PR Newswire]] | | 4/21/2024 | [**Anshul Mangal and John Khoury**](https://medcitynews.com/author/amangaljkhoury/) | [[MedCity News]] | ## Topic Overview (Some LLM-derived content — please confirm with above primary sources) ### Key Players - **EMED Technologies**: A company that emphasizes a tailored vendor selection strategy to align with specific project requirements in clinical research. - **Documo**: A company that has developed a specialized RFP template for healthcare organizations to streamline the vendor selection process for technology projects. - **EasyVista**: A provider of IT service management solutions recognized for high customer satisfaction and value in the Vendor Selection Matrix. - **Infosys**: A global leader in digital services and consulting, enhancing its capabilities through acquisitions like MRE Consulting to improve vendor selection and digital transformation. - **Pagero**: A trusted partner for e-invoicing solutions in Europe, emphasizing compliance in vendor selection. - **Suki**: A budget-friendly option compatible with various EHRs. - **Nabla**: Praised for its ease of onboarding and customization options. - **CobbleStone Software**: A leader in contract management solutions, providing a comprehensive platform that integrates contract management, vendor management, eProcurement, and eSourcing. - **Abridge**: Recognized for its affordability and physician-led approach, attracting organizations seeking advanced features. - **Execo**: A company expanding its global presence with a focus on GenAI legal services. - **Medely**: A healthcare workforce management solution addressing labor shortages and optimizing staffing efficiency. - **Tecsys Inc.**: Recognized as a leader in WMS technology, providing advanced solutions for healthcare and logistics. - **Tecsys**: A leader in warehouse management systems (WMS) technology, known for its industry-focused expertise. - **Tata Consultancy Services**: An Indian multinational IT service and consulting company that offers healthcare BPO services, leveraging its global presence. - **Dedalus**: A European EHR vendor expanding its presence, particularly in Italy, focusing on healthcare IT solutions. - **Hallmark**: A company addressing clinical staffing shortages through innovative staffing solutions and technology integration. - **ShiftMed**: A healthcare staffing services provider that expanded its platform to fulfill allied health positions nationwide. - **Waystar Holding Corp.**: A cloud-based software solution for healthcare payments, focusing on revenue cycle management and expanding its market share. - **Nuance**: A leading provider of AI-driven clinical documentation tools, favored for its strong reputation and integration with Epic systems. ### Partnerships and Collaborations - **ISG Research Study**: A collaborative effort to assess digital service providers in healthcare, with findings to guide enterprise buyers in vendor selection. - **Documo and Healthcare Organizations**: Documo's RFP template allows healthcare leaders to evaluate potential vendors effectively by incorporating specific requirements. - **Nutanix and Pure Storage**: A strategic partnership to create integrated solutions for virtual workloads, enhancing vendor selection in IT environments. - **Collaboration with Nice**: A white paper discussing how custom integrators can expand their business beyond the residential market. - **Rebellis Group and Toney Healthcare**: Partnering with Advent Advisory Group to enhance healthcare consulting services. - **CobbleStone Software and Secure Operating Solutions**: This partnership aims to enhance contract lifecycle management capabilities, improving vendor management processes. - **CareRev and Hallmark**: Integration of CareRev's acute care labor marketplace into Hallmark's staffing software to enhance staffing flexibility. - **GenieUs Genomics and Duke University**: Collaborating to validate a platform for personalized genetic analyses in ALS clinical trials. - **Wintrust Financial Corporation and First Dollar**: Partnering to enhance health savings accounts and employee benefit accounts using advanced technology. - **Caribou Rewards and Right at Home**: Selected as the preferred rewards partner to improve caregiver experiences across 433 locations. - **MultiCare Health System and Xsolis**: Collaboration to enhance efficiency in case reviews and denial management through AI-backed software. - **LG Electronics and West Virginia**: Collaboration to launch new business ventures focused on healthcare and renewable energy technologies. - **Median Technologies & Top Pharmaceutical Companies**: Partnerships to enhance drug development using AI-driven imaging technologies. - **Community Health Systems & Mark Cuban Cost Plus Drugs**: Partnership to enhance access to affordable medications across 71 hospitals. - **Mitel Secure Cloud**: An initiative to enhance hybrid communications for enterprises, addressing security and compliance needs in regulated industries. - **Bon Secours Mercy Health and Philips**: Partnered to implement standardized remote patient monitoring solutions across hospitals to enhance patient care. - **SCAN Health Plan and Cresta**: Partnered to integrate AI into call center operations, enhancing member service. - **BostonGene & Takeda**: Collaboration to improve immuno-oncology research using AI-powered multiomics. - **Alphina Therapeutics**: Appointed Dr. Marc Damelin to lead the development of its NAMPT inhibitor program. ### Innovations, Trends, and Initiatives - **EHR Vendor Selection**: Organizations are increasingly focusing on selecting EHR vendors that meet their specific needs, emphasizing the importance of thorough evaluation. - **AI in Vendor Selection**: The integration of AI technologies in healthcare is transforming vendor selection processes by providing actionable insights and enhancing decision-making. - **AI in Clinical Trials**: Increasing investment in AI technologies for better patient selection and trial design. - **Custom EHR Development**: Growing preference among healthcare professionals for tailored EHR solutions over generic software. - **Generative AI in Procurement**: State and local governments are adopting generative AI to streamline procurement processes, although it introduces new risks. - **ComplianceQuest's AI-driven Solutions**: Focuses on improving quality and compliance in vendor management through innovative AI solutions. - **Diversity, Equity, and Inclusion (DEI)**: Healthcare IT vendors are integrating DEI initiatives to improve patient outcomes and operational fairness. - **RFP Template by Documo**: A user-friendly framework that allows customization to align with specific project goals and organizational requirements in healthcare technology. - **B2B Procurement Enhancements**: The integration of AI in procurement processes is streamlining operations and improving supplier relationships. - **EasyVista**: Launched EV Pulse AI to enhance IT service management capabilities. - **Cybersecurity Innovations**: Health Catalyst's enhanced BluePrint Protect platform automates vendor response evaluations to manage cybersecurity risks. - **XKL**: Complies with the Build America Buy America initiative, focusing on domestic manufacturing and broadband solutions. - **Info-Tech Research Group**: Released a blueprint for healthcare IT leaders to navigate the AI vendor landscape and adopt large language models (LLMs). - **Generative AI in Contract Management**: CobbleStone's latest update includes AI tools to enhance contract lifecycle management and legal operations. - **Atlas Orchestrate**: A platform launched by Diversified to simplify cloud deployment and enhance security and compliance. - **Digital Twin Technology**: Introduced by Tecsys to improve operational efficiency in supply chain management. - **Generative AI**: Revolutionizing business operations by enhancing growth and addressing security concerns, particularly in retail and healthcare. - **AI-Powered Ambient Scribe Technology**: Early adopters are experiencing reductions in clinician burnout by automating note-taking during patient appointments. - **AI and Automation**: Healthcare organizations are increasingly investing in AI and automation to enhance operational efficiency and patient access. - **EHR Integration**: The use of electronic health records to enable precision medicine and tailored treatment strategies for diseases. ### Challenges and Concerns - **Vendor Selection Risks**: The importance of carefully selecting IT consultants and service providers to avoid cost overruns and misalignment with organizational goals. - **Vendor Selection Complexity**: Healthcare leaders face challenges in evaluating a crowded vendor market, particularly for AI technologies. - **Regret in Vendor Selection**: Research indicates that over half of U.K. software buyers regret their technology purchases due to hidden costs and complexity. - **Regulatory Compliance**: Ensuring that vendor selection processes meet compliance standards, particularly in healthcare, to mitigate risks. - **Vendor Transparency**: The importance of avoiding partners who lack transparency or have a poor track record to prevent project delays and increased costs. - **Privacy Risks**: Concerns regarding the use of sensitive patient data in training AI models, necessitating careful vendor selection. - **Hidden Costs in EHR Selection**: Healthcare leaders emphasize the need to understand the full scope of costs associated with EHR solutions. - **Vendor Reliability**: Healthcare professionals often lack knowledge about IT solutions, raising concerns about finding trustworthy vendors. - **Data Privacy**: Law firms are increasingly incorporating data privacy considerations into their vendor selection processes due to rising cyber threats. - **Operational Uncertainty for Mid-Market Firms**: Challenges in balancing efficiency and risk management due to complex operational models and limited resources. - **Vendor Oversight in Pharmaceuticals**: Increased scrutiny from regulatory inspectors necessitates effective management strategies for outsourced activities. - **Compliance Risks**: Organizations face various risks from third-party relationships, necessitating thorough vendor assessments and ongoing monitoring. - **Technology Adoption Hesitance**: Many healthcare executives are cautious about immediate investments in new technologies, reflecting a careful approach to adoption. - **ROI Justification**: Healthcare revenue cycle executives face challenges in justifying the ROI of new technologies, impacting vendor discussions. - **Data Quality in AI**: Poor data quality can lead to ineffective decision-making in procurement, emphasizing the need for high-quality data. - **Cybersecurity Risks**: The vulnerabilities associated with third-party suppliers, as highlighted by incidents like the ransomware attack on Marks & Spencer. - **Staffing Issues in ASCs**: Independent Ambulatory Surgery Centers face challenges in recruiting trained surgical staff due to rising costs. - **Hidden Costs of Outsourcing**: Hidden costs associated with outsourcing in the healthcare BPO market can undermine anticipated savings, requiring careful planning. - **Cybersecurity Threats**: Concerns regarding data security and compliance, particularly in the context of cloud solutions and hybrid deployments. - **Third-Party Risk Management**: The increasing threat posed by supply chain vulnerabilities highlights the need for improved third-party risk management in healthcare. ## Related Topics [[System Selection]]; [[Platform Selection]]