There is a problem
Close to $2.7 trillion, or one of every five dollars in the U.S., is spent on healthcare every year. One-third of that is considered wasted through inefficiency, redundancy, misuse, harm and variation. The U.S. currently ranks first in cost and last in clinical outcomes when compared to other countries. The average operating margin for hospitals is 2.2% and one of three are losing money.
The cost of care takes center stage
Driven in part by the Affordable Care Act and a shift towards bundled or capitated payment, healthcare is moving away from strictly a “top line” focus of driving volume towards the “bottom line” focus of driving value, from a clinical and financial perspective. According to the 2013 HIMSS Healthcare Provider Innovation Survey, reducing the total cost of care is now the #1 concern and area of focus for healthcare providers. Unfortunately, a lack of accurate, reliable cost data coupled with a disjointed financial planning process has created enormous risk to the long-term viability of hospitals and health systems.
The Strata Solution
Our passion and our mission is to help hospitals and health systems drive margin to fuel their mission. Our solution, StrataJazz® is the leading cloud-based SaaS financial analytics and performance platform in healthcare. It is an enterprise-wide solution that addresses the financial planning, decision support and continuous cost improvement requirements of healthcare providers. We provide seamless integration with existing EHR, ERP and EDW systems to leverage the organization’s existing infrastructure and investments. The Company’s advanced cost accounting platform has emerged as the solution of choice in the market.
1 of 5 Hospitals in the U.S. Use StrataJazz to Drive Financial Performance
Our client base includes over 180 healthcare delivery systems and over 1,000 hospitals, including major academic medical centers, community hospitals, children’s hospitals, and many of the largest and most influential healthcare providers in the U.S. Because of our level of experience, our confidence in StrataJazz and, most importantly, our commitment to our clients, we remove risk by providing a Satisfaction Guarantee.
FREE DOWNLOAD: “Using Cost Accounting Systems to Prepare for Value-Based Care”