Prestigious "2017 Best in KLAS: Software & Services Report" Names StrataJazz® as the Top Cost Accounting Application Based on Customer Experience.
CHICAGO, IL, February 2, 2017 – Strata Decision Technology (Strata Decision), a pioneer and leader in the development of cloud-based financial analytics and performance tools to drive cost savings in healthcare, announced today that StrataJazz®earned top honors for the third consecutive year as the 2017 KLAS Category Leader for Business Decision Support in the 2017 Best in KLAS: Software and Services report.
KLAS, an independent healthcare research organization, reserves the “KLAS Category Leader” designation for healthcare vendors who diligently seek to align with provider needs, and provide unwavering determination to deliver excellence with passion. The “KLAS Category Leader” designation is based on thousands of health care provider surveys and interviews that KLAS conducted throughout the year. According to KLAS, the “KLAS Category Leader” denotes vendors that have excelled in their respective market segments and demonstrated leadership in working with customers to resolve issues and match expectations to reality.
“We’re thrilled to be the KLAS Category Leader for the third year in a row. KLAS is known as the ‘Consumer Reports’ for healthcare information technology as it is based on customer feedback; it is great confirmation that we are delivering for our customers,” said Dan Michelson, Chief Executive Officer of Strata Decision. “Our passion is to make a difference in healthcare by helping providers drive margin to fuel their clinical mission. Cost accounting is now a core application for supporting value-based care. Our solution helps ensure hospitals and health systems reduce unnecessary waste and variation while driving operational and clinical performance.”
With over 20 years of experience, Strata solutions are used by over 1,000 hospitals and 185 healthcare delivery systems across the U.S. In addition to receiving the #1 Ranking for Business Decision Support as KLAS Category Leader for three consecutive years, Strata has received the Healthcare Informatics Leading Edge Award, was recognized on the Inc. 5000 list of America's Fastest Growing Companies three years in a row and has been named to the Becker's List of Great Places to Work in Healthcare multiple times.
In addition to the quantitative rating of the company’s performance, customers also provided KLAS qualitative feedback. The following are selected commentaries; please visit www.klasresearch.com for a complete view:
- “I have been in the industry a long time and have worked in budget-decision support. Out of all the vendors I have worked with, Strata Decision has their act together the most by far and are sort of ahead of the curve contextually of where the industry needs to go.” (Director/Physician August 2016)
- “The collaborative nature of the relationship is what separates Strata Decision from other vendors. We feel that they are deeply invested in us because they react quickly, ask us for feedback about areas where they can improve, and deliver beyond what they say they will deliver.” (Director/Physician November 2016)
- “I have worked with other decision support vendors in the past, and Strata Decisions is light years ahead of them all. Strata Decision has been very responsive to the issues that we have told them about. They want to meet everyone’s needs and continually come out with updates. They consistently ask for feedback and check in with us.” (Manager/Analyst November 2016)
- “Strata Decision is doing really cool things, and they are really interesting. They do not just talk. They actually deliver, which is so refreshing.” (Director/Physician August 2016)
- “I couldn’t really be happier with Strata Decision. The product is fast. The functionally is very, very powerful, and the support is really good. Strata Decision has really hit the ball out of the park. StrataJazz Decision Support is a really, really good product.” (Executive April 2016)
- “From a top-line view, we have had a fabulous experience with the system. The functionality, ease of use, speed of use, and implementation are what have made the experience fantastic. The response and engagement with Strata Decision's team have set them apart.” (Director/Physician November 2016)
- “In our old system, we could only use one cost model. In StrataJazz Decision Support, we can use a combination of models, which improves accuracy. We can now pull in actual supply costs from the OR and drug costs from the pharmacy. We didn’t even have space to load in all the drugs and their pricing in the old system, and we can do that now, which makes a big difference for us. We could get nowhere near where we are now with the estimates we had to use before. We can apply the same methodology to labor costs. StrataJazz Decision Support has taken us from the theoretical world into real estimates.” (Director/Physician November 2016)
- “One of the most significant differences for us has been the time and effort that we have saved in processing costs. Previously, it took multiple overnight jobs to process the data for our hospitals. Now we can pull the data, process it, and publish it in one afternoon. Within our old system, we were unable to conduct clinical cost reviews for our many ambulatory sites. We now have that capability, and it has saved us so much time. We didn’t cut staff with these improvements. We are just able to add all of the data and cost processing workload for all the hospitals and ambulatory sites because of all of the efficiency in the new system that didn't add more work demand.” (Director/Physician November 2016)
- “We went live with StrataJazz Decision Support a little while ago, and we have really loved working with the system. This product has a lot of functionality and is really easy to use. We can do anything that we need to do in the system quickly and easily. Working in the system is easy whether we are navigating the program or running and building out reports. The system has really streamlined our work and made things a lot easier for us.” (Manager/Analyst December 2016)
- “We use StrataJazz Decision Support for capital budgeting, operating, productivity reporting, analytics, and decision support. Part of the decision to go to this system was our goal of streamlining our financial and decision support platforms. We wanted a one-stop shop for the whole health system. We felt like this product offered the best connectivity between the frameworks within the system as well as a streamlined user experience.” (Manager/Analyst November 2016)
- “We have really appreciated how responsive Strata Decision is to their customers. The best part about working with them is that they actually listen. At a recent user conference, Strata Decisions introduced all the features that the next major update is going to have. The things that they talked about were the things that we and several other customers have asked for. They took the feedback that they received and included it in the next update.” (Manager/Analyst December 2016)
- “We are pleased with Strata Decision's functionality, support services, and overall partnership. They are on time. They call us back. Their support is amazing. In every relationship there are bound to be concerns and questions, but Strata Decision has handled every single thing that has ever come up very diplomatically. Strata Decision always favors us, too. They have been gracious with everything we have asked them to do. I feel very comfortable and feel that the partnership definitely goes two ways.” (Director/Physician August 2016)
According to the HIMSS Healthcare Provider Innovation Survey, reducing the total cost of care is the #1 concern and area of focus for healthcare providers. Many hospitals today have set annual cost reduction targets of over $100 million. Unfortunately, after 50 years of focusing primarily on driving volume and generating revenue, most hospitals lack the skills and staff for the transition. Strata Decision developed a cloud-based analytics and workflow solution that identifies savings opportunities related to utilization variation, staffing and pay practices and quality variation. The solution includes workflow logic to facilitate the selection and management ofcost reduction projects as well as the ongoing tracking and measurement of project results.
KLAS is a research firm on a global mission to improve healthcare delivery by enabling providers to be heard and counted. Working with thousands of healthcare professionals and clinicians, KLAS gathers data on software, services and medical equipment to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. To learn more about KLAS and our reports, visit www.KLASresearch.com.
About Strata Decision Technology
Strata Decision Technology provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company's customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S.
The Company’s StrataJazz® application is a single integrated software platform that includes modules for capital planning, continuous improvement, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting and performance improvement and strategic planning. The Company's headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.
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