During the Summit, Strata announced the availability of Time-Driven Costing (TDC™) to help healthcare systems better understand their cost and margins in support of their clinical imperatives. TDC is a feature within StrataJazz®, the market’s top-rated application for advanced cost accounting and financial decision support.
STRATA DECISION TECHNOLLOGY RECEIVES “PEER REVIEWED BY HFMA” DESIGNED FOR THE SECOND TIME
CHICAGO, IL- June 21, 2016- The Healthcare Financial Management Association (HFMA) today announced that the StrataJazz® financial analytics and performance platform from Strata Decision Technology (Strata) has achieved the “Peer Reviewed by HFMA®” designation for the second time.
HFMA’s Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions. The rigorous, 11-step process includes a panel review comprised of current and prospective customers, as well as industry experts. Peer Review status is based on an evaluation of effectiveness, quality, usability, price and value, as well as customer and technical support.
“Earning the HFMA Peer Review designation is a very meaningful accomplishment as it requires that the application and the company all pass strict criteria,” stated Dan Michelson, Chief Executive Officer of Strata. “Earning HFMA Peer Review status twice is an extra special honor as only one-third of the companies who submit actually pass. Peer Review is a critical ‘seal of approval’ for financial applications in healthcare.”
“We’re pleased that Strata has once again earned HFMA’s Peer Review designation,” said HFMA President and Chief Executive Officer, Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review program is a way for our members to identify the healthcare business solutions their peers are using to deliver organizational savings and performance improvements.”
StrataJazz is a complete cloud-based financial analytics and performance platform for financial planning, decision support and continuous improvement for healthcare providers. The Company’s customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S. In addition to receiving the HFMA Peer Review designation, the Company has been named the Category Leader for Decision Support by KLAS Enterprises for two consecutive years, recently received 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 Becker’s list of Great Places to Work in Healthcare for three consecutive years.
With more than 40,000 members, the Healthcare Financial Management Association (HFMA) is the nation’s premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care. hfma.org
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, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting, performance improvement and strategic planning. The Company’s headquarters are in Chicago, IL. For more information, please visit stratadecision.com.