From our point of view, if our customers have something they want to do, we want to help them. The fact that it’s never been done before shouldn’t be a barrier. As a company, LocumsMart is very resistant to allowing the future to be defined by the workflow processes of the past. The Transactional Contract is a great example of how LocumsMart is always looking for innovative ways to serve the needs of our customers.
The Transactional Contract is a standard contract agreed to by all Vendors at the time they become LocumsMart Members. Since all Vendors have previously signed it, a hospital that is willing to agree to the language “as is” can be automatically, immediately contracted to all LocumsMart Member Vendors. The Transactional Contract is important because it allows a Facility with an urgent need to submit it to Vendors on LocumsMart right away—without wasting time on contracting. The unique thing about the Transactional Contract is that its term isn’t defined as a set period of time, but rather by the workflow associated with a single transaction. That is, the Hospital and Vendor are contracted and committed to follow the rules of the Transactional Contract for the course of a single assignment request, and its related workflow, with no further obligation regarding future assignment requests.
The lack of a long-term commitment afforded by the Transactional Contract offers several benefits beyond speed. For Hospitals interested in trying out new Vendors, the Transactional Contract allows them to judge a Vendor’s ability to perform, without making a long term commitment. It gives larger health systems the opportunity to try out LocumsMart’s vendor-neutral system and see how they like it—it’s free to them, so they have nothing to lose. The same goes for smaller hospitals, which may not have a high volume of locum tenens needs, and therefore negotiating a big Master Contract would be a waste of time. But via the Transactional Contract, they can still access all our Vendors with a single click.
Likewise, the Transactional Contract allows Vendors to work with someone they have never worked with before, without having to spend weeks or months going through the contracting process. Vendors can jump straight to recruiting and start working on a hospital’s need right away.
The Transactional Contract is a direct response to requests we received from healthcare facilities that were interested in using LocumsMart to get a single need out the door. They were having trouble filling a particular need and wanted to see if the LocumsMart community could fill it. However, they didn’t want to blow up all their existing Vendor Contracts and complete a new LocumsMart Master Contract with them just to be able to submit a single need on LocumsMart. The Transactional Contract was created for these requests as a way to allow them to input a need on LocumsMart and quickly send that to Vendors. Since the Transactional Contract provides for a one year protection period for the Vendor that is the “procuring cause” of each Bid, Vendors know their interests are protected and they can immediately start presenting candidates back to the Facility without fear of that candidate being hired directly. At the same time, the client and the Vendor are only contracting with each other for a single transaction, and they don’t have to tear up their existing contract and redo their entire relationship.