For healthcare facilities that depend on locum tenens to fill staff vacancies, two models have emerged to help hospitals and healthcare systems manage their needs: Vendor Management Systems and Managed Service Providers.
In a Vendor Management System (VMS), hospitals and healthcare systems acquires locum tenens services from multiple locum vendors in a vendor-neutral format and contract directly with these vendors. This diversifies a facility’s locums vendor base, and that competition helps keep the hospital’s costs down and ensures the highest quality of physicians.
A Managed Service Provider (MSP) offers a different option. In this model, the hospital contracts with one locums vendor for all of its staffing needs. That locums vendor then subcontracts with other locums vendors to fill the hospitals needs, still allowing all of the billing to pass through that master locums vendor. The locums process can be very time-consuming, so by outsourcing everything to one locums vendor, a hospital can save some time, yet costs are fixed.
As a technology provider, LocumsMart is agnostic to both of these approaches—we support both. Ultimately, the customer decides. LocumsMart is thought of as a VMS, and that’s where a majority of our revenues come from. However, we also sell MSP technology to vendors, which is a part of our business that is growing. We even provide a “soft” MSP with a few customers that is still vendor-neutral. Essentially, they are set up as a VMS, and they outsource a lot of the manual work that a healthcare system typically does to secure a locum, thus saving time and money.