VendorMetrics Performance Evaluations for Outsourcers & Service Providers
One of our primary functions is to measure vendor compliance with service-level agreements, industry best practices and governmental regulations. Performance is measured against peer vendors serving similar markets using our exclusive VendorMetrics statistical database.
VendorMetrics is comprised of performance data and vendor pricing comparisons from over 2,000 hospitals nationwide representing the full spectrum of demographic and economic segments.
This proprietary engine allows us to establish benchmarks for pricing and performance and identify the contributing factors which impact results. Among these factors are collections, turnaround times and patient satisfaction.
By comparing your existing vendors against their peers in VendorMetrics we’re able to draft and adopt SLAs which hold them accountable for maintaining optimal performance levels.
Ultimately, our goal is not to replace your vendors.
Healthfuse is committed to improving incumbent vendor performance. We believe in the value of existing hospital-vendor relationships. We will make every effort to maximize the value and performance of your existing vendors.
Traditional Vendor Management Typically Leads to Sub-Par Service & Outcomes
For most hospitals, vendor management is defined as making vendor selections and managing vendor outcomes, which tend to be self-reported by the vendors themselves. While important, this approach is limited.
We believe the best way to impact outcomes is to manage the process, ensuring vendors have the correct process and accounts consistently flow through the correct process.
Tech-Enabled Process Management
Spot-checking accounts to search for errors is ineffective and inefficient and only provides answers to the wrong questions – are there red-flags? Are there accounts that are not worked appropriately?
We work to answer the right question – what are the root causes of the errors so we can correct them? This entails a 100% account-level audit, powered by our AUTOAUDIT system.
Through AUTOAUDIT, we audit 100% of outsourced vendor accounts every week, without exception. AUTOAUDIT alerts our team to instances of non-compliance, which are immediately investigated by our Vendor Management Office.
Beyond process compliance, AUTOAUDIT ensures vendors remain in compliance with state, federal and internal policies and regulations.