Addressing Staffing Shortages in Healthcare
As healthcare organizations grapple with ongoing staffing shortages, innovative solutions have become essential to maintaining quality patient care. One such solution is the implementation of a Vendor Management System which has seen a significant uptick in adoption within the healthcare industry. According to a report by Staffing Industry Analysts, approximately 60% of healthcare systems in the U.S. utilize a VMS to manage their contingent workforce. Among the leading solutions is Ringo, a cloud-based workforce platform designed to streamline the management of contingent labor in healthcare settings.
Enhance Contingent Workforce Management
Ringo offers numerous benefits to healthcare organizations, primarily by simplifying the process of hiring and managing contingent labor. This platform enables healthcare providers to quickly fill staffing gaps, ensuring that patient care remains uninterrupted. With Ringo, healthcare organizations can efficiently manage their contingent workforce by tracking hours worked, maintaining credentials, consolidating billing, and gaining actionable insights into their operations.
Save Time and Money with Automation
One of the key advantages of Ringo is its ability to save time and reduce costs through automation. The workforce platform automates many of the manual tasks involved in recruiting and managing contingent workers, from posting job listings to managing contracts and payments. Additionally, Ringo allows healthcare organizations to set rate cards and establish clear parameters around expenses related to provider travel, further optimizing their contingent labor management.
Access a Broader Talent Pool
Ringo also enhances the quality of the contingent workforce by providing access to a larger pool of qualified candidates. The platform’s intuitive workflow and expanded vendor supplier pool help healthcare organizations identify and attract top talent from various sources, all under a single contract. This not only improves the quality of hires but also streamlines the entire hiring process.
Managing Contingent Labor Costs
While Ringo streamlines staffing solutions, it's important to note that the cost of contingent labor remains a significant concern for healthcare organizations. A recent report by Kaufman Hall, shows that Health Systems are facing a new normal of shrinking revenue and rising labor costs. In Q2 of 2024, increased labor expenses accounted for 83.9% of total expenses.
With Ringo's workforce management platform, organizations can better manage these costs by consolidating billing and gaining valuable insights into their contingent workforce spending.
Reduce Costs with VMS Solutions
Studies have shown that VMS solutions like Ringo can lead to a substantial reduction in contingent labor costs. According to Ardent Partners, organizations that implement a VMS typically see a 10-20% reduction in these costs. This is achieved through the platform's ability to streamline the hiring process, quickly find qualified candidates, and provide real-time visibility into staffing needs and provider availability. By optimizing staffing levels and avoiding over-staffing, healthcare organizations can realize significant cost savings over time.
Streamline Vendor Billing
Another notable benefit of Ringo is its ability to simplify vendor billing. Traditionally, healthcare organizations might have to manage multiple vendors and invoices, leading to time-consuming and often confusing billing processes. Ringo addresses this challenge by auditing all vendor billing against system-approved rates and electronically confirmed agreements executed within the platform. This results in a consolidated weekly billing invoice for all vendors, ensuring that healthcare organizations can easily track their contingent labor spending and only pay for the services they need.
Address Staffing Shortages and Streamline Workforce Management with Ringo
Ringo is a powerful tool for healthcare organizations looking to streamline their contingent workforce management and improve the quality of their staffing. Whether you're already using a VMS solution or exploring your first implementation, Ringo offers automation, compliance, and cost-saving features that allow you to focus on delivering high-quality healthcare services. Explore how Ringo's solutions can benefit your organization and take the first step toward optimizing your contingent workforce management today.
