Health systems across the country are looking for better ways to collaborate with clinicians on quality improvement and cost reduction. Finance leaders in particular recognize the critical importance of fully engaging clinical leaders to help their organizations to move towards value-based payment models. They also recognize that their goals of reducing hospital costs while maintaining quality must become a continuous effort, not just a one-time initiative.
With StrataJazz, the analytics required to find true hospital and healthcare cost savings is automated for you. StrataJazz identifies variances in quality, utilization and staffing that represent significant savings opportunities and then provides clinical and operational workflows so you can drive improvements, track results and cultivate accountability.
StrataJazz provides data on the cost savings opportunities, cost reduction targets, performance improvement strategy, anticipated savings and tracks progress via a dashboard that enables users to drill into each cost and quality improvement initiative. This data feeds back to other StrataJazz modules so you can adjust forecasts and budgets accordingly.
To help organizations achieve this, Strata has partnered with Yale New Haven Health System to embed their clinically-proven Quality Variation Indicator (QVI) methodology into StrataJazz (see more below).
StrataJazz reduces the financial impact associated with disparities in care delivery by pinpointing variances such as supply usage, length of stay and ancillary services usage that are negatively affecting your cost reduction initiatives.
Gain Buy-In Leverage internal cost accounting data to gain buy-in for cost savings opportunities from those who actually control expenses.
Isolate the Root Cause of Variance Identify variances at the service line level (i.e. orthopedics), in the subset of services (i.e. knee implants) and at the physician level (i.e. specific surgeon) to promote performance improvement accountability.
Save Time Spend less time crunching numbers and more time working with physicians and clinical leaders to improve care practices.
StrataJazz identifies staffing misalignments and quantifies labor reduction opportunities so you can make the most informed and cost-effective decisions without impacting patient care.
Adjust Staffing to Changes in Volume Quickly determine if department managers are above or below the staffing per unit of service goals for their specific cost centers.
Bridge the Communication Gap Promote meaningful conversations between finance, clinicians and operations by emphasizing quality and value, not just cost.
Drive True Change Integrated data such as targeted worked hours per unit of service, as well as budgeted and actual worked hours allow department managers access to actual vs needed staffing levels on an hourly basis.
StrataJazz leverages Quality Variation Indicators to help hospitals identify the financial impact of adverse events. This allows hospitals to review clinical and financial outcomes data together and understand the cost and margin impact to the hospital.
Goal Alignment Identify savings opportunities associated with the reduction of adverse events by combining clinical outcomes and cost data together. This allows clinical and financial leaders to create common goals for reducing costs, clinical variation, and most importantly, improving patient care.
Pinpoint Areas of Opportunity Review Quality Variation Indicators at the payer, entity, specialty and physician level to identify where clinical improvements will have the largest patient impact.
Faster Outcomes Data and Automated Results Tracking Spend less time querying your data and manipulating spreadsheets to understand your clinical outcomes data. Set your goal and StrataJazz will automatically report clinical outcomes and associated cost savings monthly.
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