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Palmetto Health Launches Vendormate VISION™ for Vendor Screening and Compliance Management
Atlanta, GA December 1, 2006 – Palmetto Health, a non-profit public benefit corporation based in Columbia, South Carolina, today announced it would begin using Vendormate’s VISION™ business credentialing and compliance monitoring solution within its hospital facilities – Palmetto Health Richland and Palmetto Health Baptist in Columbia and Easley.
Palmetto Health chose Vendormate because of its ability to provide the most comprehensive and robust vendor management solution. The VISION solution goes beyond a vendor data repository by allowing hospitals to continuously monitor existing and potential vendors against government-sanctioned lists as well as their financial health.
In addition to monitoring vital vendor compliance information, VISION allows Palmetto Health’s facilities to evaluate vendors based on a customized acceptability score that takes into account financial health, diversity, and legal standing.
After a short two-month implementation, Palmetto Health now requires all existing and potential vendors to register through a private-labeled application accessible from its public website. The initial driver for Palmetto Health to execute this solution was based on their want to easily perform internal audits on vendor data. In recognizing this need, the company has proactively prepared for the growing regulatory pressures on hospitals to ensure overall good-standing and legal compliance across thousands of vendors.
“Palmetto Health’s enthusiasm and commitment to the new vendor program has made the partnership and implementation a great success” said Andy Monin, Vendormate CEO and President.
About Palmetto Health
Palmetto Health is a South Carolina nonprofit public benefit corporation consisting of Palmetto Health Richland and Palmetto Health Baptist in Columbia and Easley. All three of our hospitals are highly respected, long-time members of the community dedicated to providing the best health care possible. Being #1 in the Delivery of Health Care Services in South Carolina speaks volumes about the way we run our hospitals and the way we treat our patients. Being #1 in each market we serve for generation after generation says even more. Palmetto Health provides health care for nearly 70 percent of the residents of Richland County and almost 55 percent of the health care for the combined Richland/Lexington County area.
About Vendormate, Inc.
Atlanta-based Vendormate provides technology and compliance-monitoring services to assist companies as they manage their vendor relationships. Through its patent-pending Vision process, Vendormate provides a streamlined private-labeled solution for customers to manage the composition and risk of their supplier-base with very little impact to their budget. Vision's standardized system of vendor registration, screening, rating, and cataloging is uniquely suited to satisfy both internal qualification tasks and government mandates including HIPAA and Sarbanes-Oxley.
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