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Just a decade ago, many healthcare organizations were eager to add the latest robotic surgery systems, linear accelerators, and other sophisticated equipment to keep pace with the competition—and keep physicians happy. But as margins have shrunk and access to capital has become more restricted, many providers recognize that replacing their equipment requires a more thoughtful, holistic approach, particularly as ubiquitous assets such as beds and lights require updates while more-strategic projects such as new construction command the C-suite’s attention.

Two effective ways to address cost obscurity are overhauling budget processes and marrying cost data with clinical language, two panelists said during an April 12 workshop sponsored by Strata Decision Technology at the Becker’s Hospital Review 9th Annual Meeting in Chicago. Terri Newsome, CFO of Greenville (S.C.) Health System, and Steve Allegretto, vice president of value innovation and shared value partnerships at Yale New Haven (Conn.) Health System, explained how they’re raising the curtain on cost data. These are the strategies they deployed at their respective institutions.

Recent investments in electronic health records (EHRs) and enterprise systems have laid the foundation for advanced decision support systems to effectively merge clinical and financial data to drive much needed action in health care. Maintaining separate decision support systems for the clinical and financial realms remains the norm for most healthcare providers. But there’s pressure from both sides to develop better ways to share information to facilitate improvements across the board.

CHICAGO, April 16, 2018 — Becker’s Healthcare, one of the leading sources of information for the healthcare industry, has named Strata Decision Technology (Strata) to its list of the “Top Places to Work in Healthcare” for the fifth consecutive year.  Strata Decision Technology provides an innovative cloud-based financial planning, analytics and performance platform that is used by…