The main function of the Virginia Hospital Shared Services Corporation (VHHA Shared Services) is to bring valuable services and products to VHHA member institutions. The products and services must be of high quality and must fit the VHHA Shared Services mission. Endorsements and partnerships are decided on by exploring and developing new ventures to fit member needs and establishing relationships with carefully selected firms offering high-quality services and demonstrating strong customer service levels. In order to ensure this objective, VHHA Shared Services has a process in place to evaluate new services or program offerings that is outlined below.
An initial screening takes place by staff to determine whether the new offering fits with VHHA Shared Services in terms of:
- Its mission, which is periodically evaluated and updated as hospital needs change.
- Its priority areas, set by the board of directors.
Once the offering passes the initial screening, staff conducts the due diligence process.
Due Diligence Process:
The following is the method we use to evaluate new programs. Depending on the situation, there may be some variability in this process.
- A meeting (preferably in person) is conducted with the vendor to discuss costs and benefits of product or services and to learn about the companyâ€™s history.
- Preliminary check with other state associations to see if they have had any experience with company or competitors.
- Discussion is undertaken with VHHA staff members that have knowledge or expertise about the topic for their reactions and advice.
- Formal notification will be made to all VHHA staff via a brief memo that VHHA Shared Services is considering working with a particular company. Staff will be asked to:
- Identify any potential conflicts with existing programs or relationships.
- Comment on their reactions to the program.
- Comment about any knowledge (either positive or negative) about the potential vendor partner.
- Informal phone calls or meetings will be made to selected VHHA members for initial reactions.
- Reference check conducted with at least two current customers. Staff also will ask references what other vendors they considered using during the selection process to determine if there is considerable competition.
- Assessment of key competitors.
VHHA Shared Services staff is available to discuss any of the products or services they offer. Use the online request form to get in touch with us today.