Improved financial performance is a product of better planning, budgeting and control. As providers shift from volume to value, they can’t rely on spreadsheets and manual data integration to generate accurate financial plans, let alone translate those plans into solid operating and capital budgets. What's needed is an integrated platform including long-range forecasting, capital planning and operating budgeting to provide the insight you need and the control you require.
StrataJazz analyzes, manages and quantifies data to paint a picture of your organization’s financial health and its path moving forward. With built-in sensitivity testing and what if scenario analysis, StrataJazz helps you more accurately plan for what’s ahead, and proactively adjust operating plans and budgets as needed.
StrataJazz provides financial leaders insight and understanding into how their organizational goals, operational plans and market factors will impact financial performance in the short and long term.
Whether analyzing the impact of changes in local markets or major shifts that impact the entire market, StrataJazz can help you anticipate and plan for the future. By evaluating 3 – 10 year investment goals, operational plans and strategic initiatives and their impact on your P& L, balance sheet and cash flow, you can get a clear view of where the balance sheet is heading while also aligning that view with current-year forecasts and budgets.
Measure and Manage Risk See what effect changes in volume, reimbursement, salaries and other key factors will have on your financial performance.
Dive Deep Into the Data Scenario modeling, sensitivity analysis and risk assessment tools enable you to gauge uncertainty and decide what action to take.
Determine Impact by Service Line Leverage decision support data to evaluate the impact of strategies such as physician recruitment on specific service lines.
StrataJazz Rolling Forecasting assess how a volatile healthcare environment with receding volumes, new payment models and increasing costs will impact your profitability between now and year-end. More importantly, it enables you to proactively respond to change by providing more timely and accurate monthly projections, financial performance statistics and opportunities for improvement.
Evaluate Impact of Key Risk Factors Sensitivity testing enables you to measure the financial impact of stress factors such as changes in reimbursement, the shift to bundled payments, mergers and acquisitions, elevated investment risk and more on a monthly or quarterly basis to reduce uncertainty.
Customized planning dashboards put forecasts, reports and red flag notifications at your fingertips saving valuable time and enabling better decision making.
StrataJazz provides financial leaders flexibility, control and transparency when planning and tracking capital requirements for equipment, IT and infrastructure needs.
StrataJazz automates and streamlines requisitioning, prioritizing, approving and tracking of standard, emergency and contingent capital requests. In an environment of constrained capital dollars, StrataJazz enables organizations to maintain tight control over cash outflows and change requests, instantly analyze budget results and anticipate upcoming expenditures.
StrataJazz equipment replacement determines what equipment needs to be replaced (and when) based on criteria such as useful life and maintenance history, as well as critical considerations such as patient safety, physician satisfaction and financial implications. It provides visibility on aging equipment spread across multiple sites and service areas, giving your organization insight into the expenses it can expect 3 – 5 years in the future.
Reduce Costs Data driven analytics help you drive down direct costs from parts or maintenance, analyze and reallocate under-used assets and assess if the downtime or cost to repair an item outweighs its replacement cost.
Gain Efficiencies Proactive standardization helps you reduce FTE time and money spent on the manual tracking and planning of assets.
Improve Quality of Care Appropriately-timed replacement of aged equipment eliminates possibility of “near miss” events and increases caregiver satisfaction.
A rolling approach enables organization to properly vet and analyze strategic initiatives in the short- and long-term. It lets you identify and diagnose the criticality of your assets, prioritize those most in need of repair or replacement and reduce carry over.
StrataJazz provides for the efficient and intuitive management of budget processes, evaluation of future risk factors and clear management reporting.
StrataJazz injects best practice methodologies, automation, workflow and analysis into the budget process, significantly reducing the time required to produce and maintain a trusted budget. Leveraging industry-proven best practices, workflows and service line, provider-based and other advanced modeling capabilities, it provides a collaborative, results-oriented process.
Intelligent workflows interpret downstream risks and opportunities and monitor budgets so you can create action plans to improve efficiency and precision.
Provides a detailed overview of budget performance, including how dollars are being spent by units of service, salaries, supplies and more.
Provides ongoing visibility into an organization’s labor productivity metrics leading to increased accountability over departmental labor expenses.
Identify Areas for Improvement Metrics on number of hours worked can be tracked against specific targets like hours per unit of service, overtime, contract labor and more to identify missed targets and actions that can be taken to improve the department’s operating margin.
Reduce Spending Analytics on staffing based on patient volume enable managers to make more informed decisions and reduce unnecessary spending on overtime, agency or call back labor.
Increase Efficiency Multi-departmental views of volume, hours and productivity measures are displayed in dynamic, drill down reports so managers can monitor utilization and optimize labor productivity congruent with fluctuating volumes.
eLearning provides StrataJazz users with role and scenario-based training that drives financial and operational performance.
Designed to address the biggest concerns of StrataJazz administrators, eLearning focuses on user competency, adoption and accessibility to training and documentation. Available for Operating Budgeting, Management Reporting, Productivity Reporting and Capital Planning.
Through the use of role-based scenarios and simulations, users will get guided, hands-on experience. Users will be required to take proficiency tests after completing a simulation and may refer to Quick Reference Guides for additional help. Administrators can review user progress and test scores from the Training Center learning management system.
eLearning lessons and Quick Reference Guides are updated with each new StrataJazz release ensuring users will receive training on the most up-to-date functionality.
Available 24/7, eLearning is web-based allowing users to access it at any time, from anywhere and at any point in the financial planning cycle.
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