Category: Analyze: Decision Support

The Biggest Challenges in Community Care: 5 Questions with the CFO of CGH Medical Center

Three years ago, CGH Medical Center began their journey towards integrating their clinical data, decision-support, long-range financial planning and operating budget information. Today, this progressive acute care facility in Northern Illinois ranks high for delivering quality care and patient satisf...

Whitepaper: The Journey to Time-Driven Costing

When it comes to cost accounting in healthcare, most organizations have managed with simple, manual workflows and estimations. Many calculate costs using ratios or averages rather than actual data, a practice that has come to represent but not fully depict the reality of the hospital’s operations. ...

Whitepaper: Defensible, Strategic and Informed Pricing – Deliver on Transparency and Grow Your Margin

Almost weekly, healthcare pricing is featured in a negative light. While these stories are egregious, headline-catching examples, most healthcare leaders shudder in thinking, “what if my organization was put on the front page for our pricing? Is our pricing any more defensible than those who end up...

Q&A: Executives Discuss Cost Accounting Obstacles, Opportunities

HFMA writer Rich Daly interviews senior executives from Cleveland Clinic and Intermountain Health regarding how a shared, industry-leading cost accounting model has helped them to move toward dynamic planning, better cost accounting and more accurate, actionable cost data for decision-making....

Healthcare’s First Cost Accounting Adoption Model Launched by HFMA and Strata Decision Technology

CHICAGO, February 11, 2019 —The Healthcare Financial Management Association (HFMA) and Strata Decision Technology (Strata) today launched the HFMA-Strata L7 Cost Accounting Adoption Model™ (L7 Model), healthcare’s first roadmap to help healthcare providers access accurate cost data via the use ...

STRATA RANKED #1 IN KLAS FOR BUSINESS DECISION SUPPORT FOR FIFTH CONSECUTIVE YEAR

Strata Decision Technology has been awarded #1 in KLAS for our Decision Support solution. We are incredibly proud to be the #1 Business Decision Support solution in KLAS for the fifth consecutive year, as this rare achievement showcases our commitment to the success and satisfaction of our clients....

Top U.S. Healthcare Systems Attend 2018 Strata Decision Technology Summit

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 ...

Getting Proactive About Bundles

When the Ohio State University Wexner Medical Center (OSUWMC) in Columbus, Ohio, entered Medicare’s Bundled Payments for Care Improvement (BPCI) initiative in 2015, leaders at the academic medical center (AMC) saw the voluntary demonstration project as a way to learn about taking on risk for a pati...

How Unlocking the Power of Data Can Proactively Shape Your Reimbursement Environment

For years, organizations have been talking about how to better use their data to influence payers, increase reimbursement and grow volume. Many health systems are feeling pinched by reductions in overall reimbursement rates, high deductible health plans, more aggressive payer tactics to reduce paymen...

How Maine Medical Center Leveraged Data to Drive Healthier Margins

In the U.S., one healthcare issue that dominates headlines, surveys and reports is the exorbitant cost of care. Many organizations haven't successfully lowered costs because they don't understand the true cost of care, which is critical to grasp in a value-based world. "What you don't know, you can'...