Compare Your Performance to Leading Health Systems
In a changing market, today’s healthcare leaders need new ways to close gaps, drive efficiencies and establish a culture of continuous improvement. In the aftermath of a global pandemic and moving into financial recovery, individual health systems lack true year-over-year comparisons needed to make critical decisions and monitor key areas like volumes.
But establishing a true “apples to apples” comparison between your data and that of your peers has always been resource intensive. Working with outside benchmarking vendors takes time without promising trustworthy results your team can use to make decisions, drive down costs or budget and plan.
We created StrataSphere® Compare to help your organization advance and learn from our growing network of over 100 participating health systems. StrataSphere Compare uses machine learning algorithms to normalize your StrataJazz® data into the StrataSphere standard. Our expanded comparison offerings represent the culmination of several machine learning models that create standard mappings for general ledger, departments, pay codes and job codes.
Introducing the first ever true cost comparison tool for real cost comparisons, not based on cost-to-charge ratios
Monitor your performance against participating healthcare organizations with true comparisons of financial, operational, quality, labor expense, overhead and as an industry first, cost information.
Supplement your organization’s efforts to plan and identify improvement opportunities by using our fully automated comparison tool for relevant comparisons with minimal effort and at no additional cost or FTE support.
Compare True Financial, Operational and Quality Data vs. Peers
Financial, operational and quality comparisons in StrataSphere® Compare allow your organization to identify strategic improvement opportunities and set performance targets. Review comparisons at the health system, hospital and SG2 Service Line level.
Compare True Costs vs. Peers
Cost comparisons in StrataSphere® Compare allow your organization to identify strategic improvement opportunities and set performance targets. Review seven cost metrics and five filters for Patient Type, StrataSphere Cost Component Rollup, MS-DRG Code, StrataSphere Department Rollup, Clinical or Non-Clinical labor expense and Fiscal Year End.
Labor Expense Comparisons
Compare Labor Expense vs. Peers
Labor expense comparisons in StrataSphere® Compare enable your organization to understand labor expenses like hours and pay separately, analyze premium pay and monitor clinical versus FTE spend as it compares to other similar organizations in StrataSphere. Adjust your targets, approaches and processes based on unique factors associated with your healthcare delivery system.
Compare Overhead Costs vs. Peers
Overhead comparisons in in StrataSphere® Compare allow you to review key metrics about your organization’s overhead through the lens of one of nine StrataSphere Department Rollups. Gain clarity and detail when comparing your organization’s performance in the area of overhead to similar peers in the StrataSphere network.