$40 million, $100 million, $220 million, $300 million. These figures do not represent recent Powerball jackpots or the contracts of star athletes. They are the annual cost reduction targets that CFOs of major health systems have recently shared with me.
STRATA RANKED #1 IN KLAS FOR BUSINESS DECISION SUPPORT FOR FIFTH CONSECUTIVE YEAR
Prestigious “2019 Best in KLAS: Software & Services Report” Again Names StrataJazz® the Top Business Decision Support Application Based on Customer Experience
CHICAGO, IL, January 31, 2019 — Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial planning, analytics and performance tools for healthcare, announced today that StrataJazz® earned top honors as the 2019 KLAS Category Leader for Business Decision Support in the 2019 Best in KLAS: Software and Services report for the fifth consecutive year with a score of 93.3 out of 100.
The annual Best in KLAS report ranks healthcare IT software and services vendors across multiple market segments with ratings based on tens of thousands of healthcare provider interviews that KLAS conducted throughout the year. “Category Leaders are committed to providing the very best technology, service, and guidance to providers and payers,” said Adam Gale, President of KLAS. “The Category Leader award carries with it the voice of thousands of providers and payers, highlighting outstanding vendors who have raised the bar.”
According to a recent survey conducted by Strata and Becker’s Healthcare, 90% of healthcare leaders have little to no access to accurate and actionable information on the cost of care, making it extremely difficult to reduce variation, waste and inefficiency. StrataJazz is currently used by over 1,000 hospitals and 200 healthcare delivery systems across the U.S. and has become the “gold standard” for understanding the cost of care via Advanced Cost Accounting.
“We are incredibly proud to be the #1 Business Decision Support solution in KLAS for the fifth consecutive year. It is extremely rare for any company to deliver at a world-class level for their customers this consistently,” stated Dan Michelson, Chief Executive Officer of Strata. “Advanced Cost Accounting has become a mission critical application for hospitals and healthcare delivery systems. Accurate, accessible and actionable information on cost is now seen as a requirement to improve both financial and clinical outcomes, allowing providers to reduce variation and eliminate waste.”
In addition to receiving the #1 ranking for Business Decision Support as KLAS Category Leader for five consecutive years, Strata has also been named to the Becker’s Healthcare’s list of Great Places to Work five consecutive times.
KLAS collects both quantitative and qualitative feedback from healthcare providers. The following are selected commentaries; please visit www.klasresearch.com for a complete view:
- “Strata Decision Support has been amazing from the very beginning. The support people are great and have quick turnaround times with any issues. If we can’t get ahold of them, they always call us back even without knowing the details about the issue. Our partnership is valuable to Strata Decision Technology, and they prove that every time we reach out to them.” (Director, June 2018)
- “Strata Decision Technology is very oriented toward customer service. They hire extremely smart people. I have been impressed by their knowledge of the product and by their problem solving. Strata Decision Technology strives to be innovative and stay ahead of the curve. They don’t wait around or become stale by basking in their success. They are really focused on innovating and advancing the product in ways that the customers want.” (Director, May 2018)
- “We really like StrataJazz Decision Support and have been very satisfied with it. We have been live for several years, and it has revolutionized the way that we have been able to access information quickly. Processes that used to take us several days to complete now take us less than an hour to complete.” (Director, May 2018)
- “StrataJazz Decision Support is basically everything that I was looking for. Once it is set up, the maintenance is easy. We don’t have a lot of staff members, so we need something really seamless. Strata Decision Technology maintains the tool, so we don’t have to have servers here and so forth. All of the upgrades are handled by the vendor. The tool doesn’t require a lot of IT or fiscal support once it is implemented.” (VP/Other Executive, May 2018)
- “Strata Decision Technology is the epitome of good customer service and is always on top of things.” (Director, June 2018)
- “Seeing our users get involved with decision support because of the product is exciting. In the past, the decision support was done by others. However, now we have trained our users to run the analytics themselves and get the reports they need. This has been very effective.” (Manager, Jan 2019)
- “Strata Decision Technology provides excellent support. They are very flexible, and the system is user friendly. We can conveniently get to different fields, manipulate the data, and build dashboards to provide snapshots of information to our senior leadership.” (Analyst/Coordinator, June 2018)
- “Strata Decision Technology has been exceptionally responsive to our needs.” (Executive)
- “I think that Strata Decision Technology is very willing to work with a client to make something happen.” (Manager, Oct 2018)
- “The system supports data integration well. Bringing in large amounts of data is much simpler now than it was with our previous budget and previous system. The system runs certain calculations extremely quickly, and we can run cost models much more efficiently now. We can use the system to model our complex contracts, and that helps us make better decisions.” (Analyst/Coordinator, Oct 2018)
- “The system has amazing dashboards that we can set up, and we can save the dashboards as PDFs or give people access to look at them.” (Director, Oct 2018)
- “StrataJazz Decision Support is really heavy on analytics and a lot of dashboards. It is very easy to use, and someone without a programming background can easily create a report.” (Manager, March 2018)
- “The approach Strata Decision Technology has taken during the implementation is phenomenal. They came to our implementation with templates on how to use the product. That was really a nice touch. It wasn’t like they were winging the implementation.” (VP, May 2018)
- “StrataJazz Decision Support is way ahead of our old system. When we were shopping around, a lot of the products were really slick, but the people and expertise at Strata Decision Technology really sold me on the product.” (Director, May 2018)
- “I am very impressed with Strata Decision Technology’s new releases and their openness to user input. They work with other hospitals, and they partner with Epic because many of their clients use Epic’s systems. They are open to sharing information and creating user groups to gather input and learn from customers.” (Director, March 2018)
- “We use StrataJazz Decision Support to meet our needs for accounting, budgeting, contract management, and financial planning. It is the best system we have used for cost accounting, and we love the reporting in the system. (Director, March 2018)
- “We have had a very positive experience with Strata Decision Technology. Looking back, I am glad that we made the decision to move forward with them because the product has just been very good for us.” (Director, March 2018)
- “With vendors I have used in the past, there has usually been one superstar willing to go the distance to help achieve a successful implementation and go away as soon as the product has gone live. That has not been the case with Strata Decision Technology. There has been an entire team of superstars willing to go the distance beyond the go-live no matter the time of day. Strata Decision Technology is a great partner and really teams up with us. Even high-level executives regularly interact and work with us. The whole team has been involved even before the signing of the deal, so it has been seamless to keep working with the team. We hired Strata Decision Technology for a specific need, and they have built a great product for us and gone above and beyond in helping us with other product needs as well.” (Manager, March 2018)
- “The clients have a way to suggest ideas, and people from all of the vendor’s clients can vote on those ideas. The whole system is very open. People determine how helpful or successful ideas are, and then the most favorable ideas are actually added into the system. The vendor goes through this idea process on a very regular basis.” (Director, Feb 2018)
- “Strata Decision Technology’s customer service is incredible. The resources take ownership, and we don’t have to follow up on requests; the resources do what they say they will do and meet their deadlines. Other vendors can take months and lots of follow-up to do what we ask them to do. Strata Decision Technology doesn’t have to extend deadlines on their promises. They are very honest. They are always extremely professional and very responsive when I reach out.” (Manager, March 2018)
- “Our experience with StrataJazz Decision Support is going very well. The feedback from the user end has been very positive. We are definitely excited about where the product will take us. I really appreciate this new tool because it has taken away some of the workload. We used to do a lot of things manually and enter data into the system because we could not upload files. So having the product has been a huge boost in technology for our team. The product enables us to turn things around much quicker.” (Director, Feb 2018)
2014-2019 Best in KLAS: Software and Services report, January, © KLAS 2019.
KLAS is a data-driven company on a mission to improve the world’s healthcare by enabling provider and payer voices to be heard and counted. Working with thousands of healthcare professionals, KLAS collects insights on software, services and medical equipment to deliver reports, trending data and statistical overviews. KLAS data is accurate, honest and impartial. The research directly reflects the voice of healthcare professionals and acts as a catalyst for improving vendor performance. To learn more about KLAS and the insights we provide, 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 as a service 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.