Cross Country Healthcare Launches New Study on the Use of Vendor Management System to Manage Labor Shortages

BOCA RATON, Fla.--(BUSINESS WIRE)--Cross Country Healthcare, Inc., a market-leading workforce solutions tech-enabled talent platform, staffing, recruitment, and advisory firm, today announced the launch of a study on the use and benefits of Vendor Management Systems to streamline the hiring of contingent and permanent staff. The study, titled "Vendor Management Systems: The Lifeline Healthcare Systems Need Now," includes responses from more than 150 healthcare leaders and gauges a pulse on this critical component of the healthcare technology ecosystem.

A Vendor Management System (VMS) can provide an automated process to find, schedule and manage healthcare staff. Users receive valuable and meaningful data to make informed hiring decisions, allowing control of staffing via one centralized platform. These tech platforms can be used for Managed Service Programs (MSPs) as well as neutral VMS systems. Work processes are streamlined, and efficiencies are gained, saving time and resources.

"The global Healthcare IT market will reach $821.1 billion by 2026 from $326.1 billion in 2021^[1]," said Dan White, Chief Commercial Officer at Cross Country Healthcare. "The growth of this market stems from government mandates and support for healthcare IT solutions, rising use of big data, high returns on investment associated with healthcare IT solutions, the need to curtail escalating healthcare costs, and the growing demand for solutions due to COVID-19 and related remote and telehealth patient options. Vendor Management Systems are proving to be the lifeline that hospitals and healthcare facilities need. It is a critical part of their technology ecosystem."

"According to the study, 40% of the survey participants said they currently use a VMS, 31% didn't know if they did or not, and 29% said they did not use a VMS," said Gerald Purgay, Chief Marketing Officer at Cross Country Healthcare. "The participants cited more than 30 different VMS platforms, ranging from sophisticated and comprehensive end-to-end systems to rudimentary systems based in SharePoint, Google or Microsoft. When asked what they liked most about their current VMS, the survey participants said security of data (57%), improved processes and efficiencies (49%), and reduced time to fill (38%) as the top three benefits."

According to Purgay, "A robust VMS will find, engage and manage staff to fill labor shortages. There are significant benefits, including increased workforce visibility and transparency, organizational efficiencies, reduced costs, confidence with compliance, lower risks, greater flexibility, and time savings. "

Download the complete study results by visiting http://www.crosscountryhealthcare.com/vms-white-paper

ABOUT CROSS COUNTRY HEALTHCARE

Cross Country Healthcare, Inc. (NASDAQ: CCRN) is a market-leading workforce solutions, tech-enabled talent platform, and staffing, recruitment, and advisory firm with 36 years of industry experience and insight. We solve complex labor-related challenges for customers while providing high-quality outcomes and exceptional patient care. As a multi-year Best of Staffing® award winner, we are committed to an exceptionally high level of service to our clients and our homecare, education, and clinical and non-clinical healthcare professionals. Our locum tenens line of business, Cross Country Locums, has been certified by the National Committee for Quality Assurance (NCQA), the leader in healthcare accreditation, since 2001. We are the first publicly traded staffing firm to obtain The Joint Commission Certification, which we still hold with a Letter of Distinction. Cross Country Healthcare is rated as the top staffing and recruiting employer for women by InHerSights. For two consecutive years, we have received the Top Workplaces USA award and were recently recognized as a recipient of the Top Workplaces Award for Innovation and Leadership by Energage. We have a longstanding history of investing in diversity, equality, and inclusion as a key component of the organization’s overall corporate social responsibility program, closely aligned with its core values to create a better future for its people, communities, the planet, and its shareholders.

Copies of this and other news releases and additional information about the Company can be obtained online at crosscountryhealthcare.com/press-room.

ABOUT THE STUDY

This national survey was conducted with 153 senior administrators, IT personnel and other roles responsible for the selection, implementation and/or use of a VMS system at large hospitals, clinics and other types of healthcare facilities that hire contingent staff. The online interviews were conducted from December 14, 2021, to January 6, 2022, by Bredin, an independent market research company located in Boston, MA, using a National Web Panel.

Copies of this and other news releases, as well as additional information about Cross Country Healthcare, can be obtained online at www.crosscountryhealthcare.com. Shareholders and prospective investors can also register to automatically receive the Company's press releases, SEC filings and other notices by e-mail.

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¹ Healthcare IT Market worth $821.1 billion by 2026 (marketsandmarkets.com)