What is a common practice for managing vendor relationships in healthcare?

Vendor credentialing processes are a crucial practice for managing vendor relationships in healthcare because they ensure that all vendors meet specific regulatory, ethical, and operational standards before they can provide services or products to healthcare organizations. This process typically involves verifying the vendor's qualifications, certifications, and compliance with relevant laws and regulations, thereby reducing the associated risks to patient safety and institutional integrity.

Credentialing helps healthcare organizations to build trust with vendors, leading to more reliable partnerships. Additionally, it assists in ensuring that the products and services supplied align with the institution's standards, which is particularly important in a highly regulated industry like healthcare. By implementing a thorough vendor credentialing process, organizations can mitigate potential liabilities that may arise from vendor-related issues, such as malpractice claims or supply chain disruptions.

The other options represent practices that might contribute to vendor management, but they do not address the foundational compliance and credentialing necessary for maintaining quality and safety in healthcare environments.