In a recent poll given by HFMA, 91% of organizations use an annual budget, yet 74% of hospitals and healthcare systems state their budget is out of date within the first quarter of the fiscal year, but spend up to 6 months creating, finalizing, and approving their budget.
Advancing Decision Support at Wake Forest Baptist Health
Wake Forest Baptist Health began implementation of the StrataJazz system the Summer of 2015. Immediately, Wake Forest began to expand the core functionalities of the Decision Support System with the idea of ensuring the system could truly be used not only for Cost Accounting but varied and multi-layered, in-depth analytics.
- Expanding data to develop and promote:
- Cost process enhancements
- Cross-functional analytics
- Data Governance
- Episode-of-care Encounter Linking
- Connecting Technical and Professional activity for a single occurrence of care
- Enhancing data within Decision Support to better enable Budgeting and Strategic Planning initiatives