Press Releases Archives - Page 5 of 5 - Strata Decision Technology

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 healthcare providers to help drive margin to fuel their clinical mission. Strata adds this latest honor to a growing list of awards that includes being ranked #1 in KLAS as the Category Leader for Business Decision Support for the last four years.

“Being recognized by Becker’s Healthcare for the fifth year in a row is incredibly exciting and great recognition of the unique culture we are building at Strata,” said Dan Michelson, Chief Executive Officer at Strata. “Our mission is to ‘help heal healthcare’. With the cost of healthcare in the U.S. now averaging over $10,000 per year for every person, delivering on that goal is more important than ever. I am incredibly proud of our team and we will continue to do everything to ensure every person on our team is given the opportunity to grow and help make a difference for our customers and our company.”

The prestigious list highlights hospitals, health systems and healthcare companies that promote diversity, employee engagement and professional growth and have gone above and beyond to be an exceptional place to work. The organizations featured on this list offer benefits and opportunities for employees to build successful careers above and beyond the average healthcare provider or company; they encourage professional development and promote leadership from within. Many members of the list offer unique wellness and personal benefits to ensure employees strike a positive work/life balance as well as employee recognition programs to highlight their accomplishments.

“Our focus is to create a culture that allows our team to grow, serve, celebrate in support of our customers and our mission,” added Heidi Farrell, Vice President of Team Development at Strata. “Our folks are passionate about our company and our team – they speak openly about how much they respect and enjoy the people they work with every day. We strive to create an environment that truly allows our team to do their most inspired work. We are truly honored that effort is being recognized.”

Strata has a long client list that also received recognition from Becker’s including: Advocate Healthcare (IL), BayCare Health System (FL), Bon Secours Health System (MD), Boston Medical Center (MA), Carilion Clinic (VA), Children’s Health (TX), Children’s Healthcare of Atlanta (GA), Children’s Hospital of Philadelphia (PA), Cleveland Clinic (OH), Covenant Health (TN), Gunderson Health System (WI), Hospital for Special Surgery (NY), Intermountain Healthcare (UT), MemorialCare (CA), New York-Presbyterian Hospital (NY), Methodist Health System (TX), Nemours Childrens Health System (FL), Northshore University Health System (IL), Northwell Health (NY), Northwestern Medicine (IL), Orlando Health (FL), ProMedica (OH), RWJBarnabas Health (NJ), Sharp HealthCare (CA), Saint Luke’s Health System (MO), UnityPoint (IA), University of Missouri Health Care (MO), University of Texas Medical Branch (TX), UPMC Pinnacle (PA), UW Health (WI), and Virginia Hospital Center Health System (VA).

View the entire Becker’s list here.

About Becker’s Hospital Review
Becker’s Hospital Review is a monthly publication offering up-to-date business and legal news and analysis relating to hospitals and health systems. Articles are geared toward high-level hospital leaders, and we work to provide valuable information, including hospital and health system news, best practices and legal guidance specifically for these decision-makers. Each issue of Becker’s Hospital Review reaches more than 18,000 people, primarily acute care hospital CEOs, CFOs and CIOs.

About Strata Decision Technology

Strata Decision Technology provides an innovative cloud-based financial planning, analytics and performance platform that is used by healthcare providers to help drive margin to fuel their clinical mission. Founded in 1996, the Company’s customer base includes 1,000 hospitals and 200 of the most prestigious healthcare delivery systems in the U.S.

The Company’s StrataJazz^® application is a single software as a service platform that includes modules for capital planning, continuous improvement, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting, performance improvement and strategic planning.

The Company’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

The KLAS Category Leader designation is based on thousands of healthcare provider surveys and interviews that KLAS conducted throughout the year. According to KLAS, the Category Leader denotes vendors that have excelled in their respective market segments and demonstrated leadership in working with customers to resolve issues and match expectations to reality. “Category Leader is more than a ranking. It is a recognition of vendors committed to delivering superior solutions,” said Adam Gale, President of KLAS. “It gives voice to thousands of providers who are demanding better performance, usability and interoperability in healthcare technology.”

“This is the fourth year in a row we have been the #1 Business Decision Support and Cost Accounting solution in KLAS. This provides confirmation of the most important thing – that we are delivering an extraordinarily positive and consistent experience for our customers. KLAS is essentially the Consumer Reports for digital health as it is based exclusively on customer surveys,” said Dan Michelson, Chief Executive Officer of Strata. “Our mission is to help heal healthcare by helping providers drive margin to fuel their clinical mission. Cost accounting and decision support are central to supporting value-based care, reducing unnecessary waste and driving operational and clinical performance.”

With over 20 years of experience, Strata solutions are used by over 1,000 hospitals and 200 healthcare delivery systems across the U.S. In addition to receiving the #1 ranking for Business Decision Support as KLAS Category Leader for four consecutive years, Strata has also been named to the Becker’s Healthcare’s list of Great Places to Work four consecutive times. “Creating an exceptional experience for both our customer and for our employees is what we constantly obsess about here at Strata,” stated Michelson.

In addition to the quantitative rating of the company’s performance, customers also provided KLAS qualitative feedback. The following are selected commentaries; please visit www.klasresearch.com for a complete view:

“I would tell others that StrataJazz is the best decision support system I have ever used. I am pretty impressed with this product. It is hands down the best decision support tool I have ever used in my many years of experience.” (Director)
“We moved from a pretty antiquated system to StrataJazz. It jumped us into the twenty-first century. The system is wonderful because of the way it works and how fast it is.” (Director)

“Strata has been great to work with. They are knowledgeable about the product and have expertise on business applications. They are open to new ideas and are willing to research new ways of doing things. We have worked with several different companies, and Strata is top notch.” (VP/Other Executive)
“We love the report functionalities and capabilities in StrataJazz Decision Support. Compared to our previous system, the reporting aspect in StrataJazz Decision Support is really nice. We don’t have to run data extracts or manipulate information. We can do everything within the system.” (Director)
“Strata’s support system is great. There is no way I could do my job without it.” (Manager)
“We are thrilled with StrataJazz, with the customer service, and with the implementation team. We are excited to see how the vendor can help us reduce costs and maintain high-quality patient care.” (VP/Other Executive)
“StrataJazz has given us a great experience. In fact, I would say it has been the highlight of Strata’s product suite for us in terms of what the product offers and the level of service we have had so far with them. The product has definitely helped us because we are able to turn around different reports very quickly.” (Manager)
“I have seen a lot of decision-support tools in my time, and StrataJazz is head and shoulders above the rest. The system has an intuitive back-end data model, and the cost models are efficient and logical. Also, the ease of use is great for our customers; the tool is a true plug-and-play system. StrataJazz is making things happen at my organization.” (Manager)
“When we are trying to understand patient quality and costs, things vary across populations, so that is why we need a decision support system. I don’t know how we would manage things without StrataJazz. That says a lot about Strata.” (VP/Other Executive)
“The continuous improvement and labor productivity modules in StrataJazz really drew us in. Those two modules were big selling points.” (Director)
“StrataJazz has an activity-based costing functionality. We use that functionality to take service-line costs that don’t apply to any one department and allocate those costs to service-line patients. We do 95% of our cost accounting by breaking our direct expenses into categories and by then assigning RVUs to all the charge codes that we bill. Then we can figure out how much cost per unit it is to do a chest x-ray, to take care of a patient overnight, and things like that.” (Director)
“We bought StrataJazz when the system was fairly new, and I am really amazed at how far Strata has come. StrataJazz is so much better than it was when we first bought it. Strata is definitely going in the right direction with this system. If we had to choose a business decision support system all over again, we would still choose StrataJazz. Other systems just aren’t up to StrataJazz’s standard.” (Director)
“The difference between this vendor’s consultants and our last vendor’s consultants is like night and day. Our new consultants are very educated, and they understand the big picture. They talk to us to make sure that they are making the right decisions during our implementations. I am confident that our next project with this vendor will go well.” (Analyst)
“We are really happy with how easy it is to update StrataJazz. Whenever something new comes out, it happens very seamlessly. We just provide Strata some core information, then they take that information and map it with very little intervention on our part. When we have issues, they typically respond within the day. Strata’s people are friendly; it never feels like we are bothering them.” (Analyst)
“Strata does product releases well. They do three major releases and a few other minor releases within the year. For the major releases, the vendor looks at their webpage for ideas, and they look into building whichever idea has the most votes. Our previous vendor never built anything for us when we had issues. That vendor tried to work around what was already built into the system.” (Director)
“Strata has started offering classes to help users be more proficient with their product, and I think that is really good. The classes were very clarifying for me. The system is perfect for cost decisions and other things we need. Strata seems to be really knowledgeable, and they worked with us a lot when we first got set up. They helped us understand the physician costing and what we needed to do to implement it.” (Manager)
“Strata is very proactive, and they reach out to our data implementation team very frequently. The vendor lets the team know what failed, what is currently happening, and when updates are scheduled. The vendor often meets with our implementation team, our data support, and our techs, and they try to keep all of us informed.” (Manager)
“Our decision support used to be very centralized to our department. If end users needed something, they would come to us. We have now been able to educate over 100 end users, and they can probably do 85–90% of the analytics on their own using StrataJazz. They can also run an export and toss it in Excel; they are much more comfortable with that. The interface for end users is relatively intuitive.” (Manager)
“We use StrataJazz decision support with contract analytics. The system integrates with the contracting piece to estimate the reimbursement before we receive payment. When we set up our terms, we used some pretty midlevel complexity, and the system will give us the yield for a contract. It is a pretty slick tool.” (Analyst)
“One of the system’s strengths is that it is a web-based platform; we can access it from anywhere. Also, the flexibility of the reporting is great. We just have to click and drag. We like that the system is user friendly; it is very easy to train people on it. The difficult part is implementing the product and bringing over all of the necessary information. But once the system is implemented correctly, it is a breeze to use. That is what I like most about it.” (Director)
“We take a daily feed from our EMR into StrataJazz and are able to do some pretty amazing things. We have cost accounting up to date through the end of December, and I have dashboards where I can literally start at the service-line level and click all the way down to the DRG, the doctor, or the patient. It is pretty amazing.” (VP/Other Executive)
“StrataJazz is very robust, very easy to update, and very easy to use. When a contract is about ready to expire, we will get notices and reports saying we need to update rates or the contract in the system. In that regard, it is very user friendly. We feel the system is accurate and comprehensive. StrataJazz allows us to set up various scenarios and types of contracts that are very complex.” (Director)
“I have been impressed with the amount of development and enhancements that Strata has put into StrataJazz. We can see the research and development as well as the money they have put into the product. Considering where the system was three or four years ago, today it is leaps and bounds ahead of that. Strata is always looking at their product and their customers and making enhancements based on that. There are tools built into the system that allow customers to submit suggestions and enhancement requests. Strata has a vetting process that requests go through to prioritize these and then push these out based on customer feedback.” (Director)
“Strata is definitely in our long-term plans. They are an essential component to how we are going to continue to survive and thrive in a pretty challenging environment.” (VP/Other Executive)

About KLAS
KLAS is a data-driven company on a mission to improve the world’s healthcare by enabling provider and payer voices to be heard and counted. Working with thousands of healthcare professionals, KLAS collects insights on software, services and medical equipment to deliver reports, trending data and statistical overviews. KLAS data is accurate, honest and impartial. The research directly reflects the voice of healthcare professionals and acts as a catalyst for improving vendor performance. To learn more about KLAS and the insights we provide, visit www.klasresearch.com.

About Strata Decision Technology
Strata Decision Technology provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company’s customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S.

The Company’s StrataJazz^® application is a single integrated software as a service platform that includes modules for capital planning, continuous improvement, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting and performance improvement and strategic planning. The Company’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

CHICAGO – The second annual Hackathon to End Hunger brought together members of Chicago’s technology sector with the Greater Chicago Food Depository to develop data driven solutions to tackle the issue of hunger. The 12 hour event was hosted at Strata Decision Technology.

The hackathon included over 100 developers and analysts from many of Chicago’s top technology companies as well as students from the University of Chicago, Northwestern University, Loyola University and University of Illinois at Chicago. The hackathon was sponsored by many of Chicago’s most innovative technology companies including Strata Decision Technology, Solstice, Civis Analytics, Signal Co., Jellyvision, Livongo, and Uptake.

“Hunger in Cook County doesn’t have to be a reality,” said Kate Maehr, executive director and CEO of the Greater Chicago Food Depository. “Sadly, one in six of our neighbors turns to the Food Depository’s network where we feed over 800,000 people in the Chicagoland area every year. From getting real-time food insecurity rates down to the neighborhood level to tracking the impact of food access over time, Chicago’s technology community is full of really smart people who want to and can help build scalable solutions to solve these problems and really make a difference.”

Hackathon participants worked in teams to examine hunger through a technology lens and develop ideas and applications that overcome barriers to timely and relevant data collection. Nine teams worked for 12 hours building technology solutions to address data collection and capture issues as it relates to existing Food Depository programs, namely mobile distributions. A panel of expert judges determined a winner based on innovation, accessibility and scalability. The winning team ultimately created a SMS-based chatbot solution to gather real-time food insecurity data at the hyper-local level. The data will enable the Food Depository to better predict increases or decreases to food insecurity at the neighborhood level. Members of the winning team, team SMS-S, included: Kris Wanintradul and Paul Anderson from Strata Decision Technology, Matt Ehinger and Jon Fox from Solstice, Bryan Berend from Civis Analytics, Hannah Worrall and Kathleen Hui from the University of Chicago, Nicholas Dennis from OTTO Engineering and Thomas Lesniak from Trustwave Holdings.

“This Hackathon demonstrates the potential for Chicago’s tech community to tackle social issues and rally around a common cause – cracking the code on hunger,” said Dan Michelson, CEO of Strata Decision Technology and Chair of the Hack Hunger Committee. “The Food Depository is perhaps Chicago’s best example of scaling a mission, serving over 164,000 meals every day to our neighbors. The Hackathon is a great opportunity to leverage technology to help take that critical mission to the next level. Working together we can find innovative ways help address issues that can make a real and meaningful difference for those most in need in Chicago”.

The Hack Hunger steering committee is chaired by Dan Michelson of Strata Decision Technology and the Hackathon was led by Ryan Erwin of Orbit Media Studios. Committee members include Bob Armour of Jellyvision, Chris Happ of Goby, Kris Kazibut of Bambu by Sprout Social, Marc Neri of Silicon Valley Bank, Nick Cromydas of New Coast Ventures and Tony Bailey of Digitas LBi.

About the Greater Chicago Food Depository

The Greater Chicago Food Depository, Chicago’s food bank, is a nonprofit food distribution and training center providing food for hungry people while striving to end hunger in our community. The Food Depository, founded in 1979, makes a daily impact across Cook County with a network of 700 pantries, soup kitchens, shelters, mobile programs, children’s programs, older adult programs and innovative responses that address the root causes of hunger. Last year, the Food Depository distributed nearly 72 million pounds of shelf-stable food, fresh produce, dairy products and meat, the equivalent of 164,000 meals every day. For more information, visit chicagosfoodbank.org or call 773-247-FOOD.

CHICAGO, IL- June 21, 2016- The Healthcare Financial Management Association (HFMA) today announced that the StrataJazz^® financial analytics and performance platform from Strata Decision Technology (Strata) has achieved the “Peer Reviewed by HFMA^®” designation for the second time.

HFMA’s Peer Review process provides healthcare financial managers with an objective, third-party evaluation of business solutions. The rigorous, 11-step process includes a panel review comprised of current and prospective customers, as well as industry experts. Peer Review status is based on an evaluation of effectiveness, quality, usability, price and value, as well as customer and technical support.

“Earning the HFMA Peer Review designation is a very meaningful accomplishment as it requires that the application and the company all pass strict criteria,” stated Dan Michelson, Chief Executive Officer of Strata. “Earning HFMA Peer Review status twice is an extra special honor as only one-third of the companies who submit actually pass. Peer Review is a critical ‘seal of approval’ for financial applications in healthcare.”

“We’re pleased that Strata has once again earned HFMA’s Peer Review designation,” said HFMA President and Chief Executive Officer, Joseph J. Fifer, FHFMA, CPA. “The HFMA Peer Review program is a way for our members to identify the healthcare business solutions their peers are using to deliver organizational savings and performance improvements.”

StrataJazz is a complete cloud-based financial analytics and performance platform for financial planning, decision support and continuous improvement for healthcare providers. The Company’s customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S. In addition to receiving the HFMA Peer Review designation, the Company has been named the Category Leader for Decision Support by KLAS Enterprises for two consecutive years, recently received Healthcare Informatics’ Leading Edge Award, was recognized on the Inc. 5000 list of America’s Fastest Growing Companies three years in a row, and has been named to Becker’s list of Great Places to Work in Healthcare for three consecutive years.

About HFMA
With more than 40,000 members, the Healthcare Financial Management Association (HFMA) is the nation’s premier membership organization for healthcare finance leaders. HFMA builds and supports coalitions with other healthcare associations and industry groups to achieve consensus on solutions for the challenges the U.S. healthcare system faces today. Working with a broad cross-section of stakeholders, HFMA identifies gaps throughout the healthcare delivery system and bridges them through the establishment and sharing of knowledge and best practices. We help healthcare stakeholders achieve optimal results by creating and providing education, analysis, and practical tools and solutions. Our mission is to lead the financial management of health care. hfma.org

The Company’s StrataJazz^® application is a single integrated software platform that includes modules for capital planning, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting, performance improvement and strategic planning. The Company’s headquarters are in Chicago, IL. For more information, please visit stratadecision.com.

Chicago, August 12, 2015 — Inc. magazine today announced that Strata Decision Technology (Strata) has been named to the 34th annual Inc. 500/5000, an exclusive ranking of the nation’s fastest-growing private companies, for the third consecutive year. The list represents the most comprehensive look at America’s independent companies.

Seven million private companies in the U.S. aspire to be on the list annually. Over the years, the exclusive Inc. list has included leading technology companies such as Facebook (FB), Microsoft (MSFT), Intuit (INTU), LinkedIn (LNKD), Oracle (ORCL) and Zappos (AMZN).

“Our team at Strata is honored to be recognized by Inc. as one of the fastest-growing companies in the U.S. for the third consecutive year,” stated Dan Michelson, Chief Executive Officer of Strata. “Our goal is to make a meaningful contribution in solving the healthcare cost crisis, and our growth demonstrates we are making progress. As our annual healthcare spending as a nation is projected to exceed $5 trillion within 10 years, it is clear there is a lot of work to do. With our cloud-based solution used by one of five hospitals nationwide we’re perfectly positioned to help.”

Strata provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous cost improvement. Founded in 1996, the company’s customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S. The company was also named the winner of the 2014 Chicago Innovation Award and is ranked #1 in KLAS, the ‘Consumer Reports’ of healthcare information technology, as the Category Leader in Decision Support in Business.

This marks the last year that Strata is eligible for the Inc. 500/5000 list as the company was purchased in January, 2015 by Roper Technologies (NYSE: ROP). Roper is a publicly-traded company that identifies great niche technology companies and then helps enhance their offerings and support their long-term growth. Strata is now part of the company’s Medical and Scientific Imaging Segment and looks forward to continued growth under Roper’s ownership.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.

Chicago, IL, October 30, 2014— Strata Decision Technology (Strata Decision) has been named one of the winners of the 13^th annual Chicago Innovation Awards. The Company’s cloud-based financial analytics and performance platform, StrataJazz^®, is leveraged for financial planning, decision support, and continuous cost improvement by over 1,000 hospitals in the U.S.

There were over 550 submissions for the 2014 Chicago Innovation Award and the winners were announced at an event held at the Harris Theater on October 30, 2014 with nearly 1,500 business and civic leaders attending. Celebrating its 13^th year, the Chicago Innovation Award is the region’s foremost recognition of the most innovative new products or services brought to market or to public service each year. Past winners of the prestigious Chicago Innovation Awards include Groupon (GRPN), Orbitz (OWW), Motorola (MSI), Abbott Laboratories (ABT), Medline, and Braintree (EBAY).

“Chicago is an innovation hub with talented business leaders who have the vision to see things differently and set themselves apart from the competition,” said Tom Kuczmarski, co-founder with Chicago journalist Dan Miller of the awards. “Every winner of the Chicago Innovation Awards embodies this mindset, and each one has found a unique way to solve a previously unmet need in the market.”

Over $3 trillion¹ is spent on healthcare in the U.S. every year with one-third of that being considered wasted². Strata Decision recently launched its newest application, StrataJazz^® Continuous Cost Improvement the first of its kind cloud-based solution is designed to help healthcare providers reduce cost on a continuous basis. The product represents the introduction of a new category of healthcare software dedicated to driving financial performance in order to help hospitals fuel their clinical mission.

“While healthcare costs are a consumer issue, many people are not aware just how large the cost crisis really is. Bending the healthcare cost curve has become one of the great socioeconomic opportunities of our time,” stated Dan Michelson, Chief Executive Officer of Strata Decision. “Receiving the Chicago Innovation Award is a wonderful acknowledgement of our team and the importance of our work. To us, innovation means taking on a big problem and driving big change and that’s exactly what we are doing.”

Honors associated with winning the award include the opportunity to ring the NASDAQ Bell in New York City and meetings with the Mayor of Chicago and Governor of Illinois.

¹ The Centers for Medicare and Medicaid
²Institute of Medicine

About Strata Decision Technology

Strata Decision Technology provides a cloud-based financial analytics and performance platform that is leveraged by healthcare providers for financial planning, decision support and continuous cost improvement. Founded in 1996, the Company’s customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S.

The Company’s StrataJazz^® application is a single integrated software platform that includes modules for capital planning, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting and performance improvement and strategic planning. The Company’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

Top-Rated Six-Hospital New York Health Network to Leverage StrataJazz to Drive Financial Performance

CHICAGO, IL, August 13, 2014 – Strata Decision Technology (Strata Decision), a pioneer and leader in the development of innovative software tools for financial analytics, business intelligence and decision support the U.S. healthcare market, today announced that Bassett Healthcare Network (Bassett) has selected the StrataJazz to help drive their financial performance.

Bassett, based in Cooperstown, NY, has been ranked as one of the top integrated health systems in the nation. Bassett is comprised of six hospitals, a large medical group, over 40 community and school-based health centers, two skilled nursing facilities, a home care network, and medical supply company. It is also a teaching hospital associated with Columbia University’s College of Physicians and Surgeons. The New York Times recently referenced Bassett’s employed physician model as one that delivers high quality care at low costs and a model for the rest of the country to consider.

“StrataJazz was the platform that provided all of the functionality we required to help drive financial performance and facilitate our financial planning process,” said Sue Andrews, Vice President of Finance at Bassett. “The ability to streamline our budget process and conduct more detailed financial reporting in a more user-friendly way is mission critical for Bassett. Implementing StrataJazz will help support our ongoing efforts to drive value and contribute to better health for our patients and our community.”

Bassett will have their operating budgeting, capital planning and management reporting workflow and data within a single database platform to support their financial planning and management needs. They will complete the operating budget and management reporting implementation in 2014. Capital planning will follow in early 2015.

“Bassett’s leadership in delivering high quality and efficient care has been well documented. StrataJazz adds to that story by delivering a single platform that will help them to continue to enhance the value that they deliver to their community,” said Dan Michelson, Chief Executive Officer of Strata Decision. “The future of healthcare finance is not with disparate systems but rather with a single application in a single database with a single vendor. We are thrilled to have the opportunity to work with Basset in support of their mission.”

StrataJazz is a single integrated SaaS platform for operational budgeting, decision support, financial forecasting, strategic planning, capital management, management reporting, and performance management. Strata Decision’s extensive library of best-practices enhances the accuracy, efficiency and effectiveness of critical financial planning and management processes.

About Bassett Healthcare Network

The Bassett Healthcare Network is an innovative and unique health care system that connects comprehensive care and services to people living throughout eight counties in central New York. The Network has been ranked as one of the top 100 most integrated health systems in the nation. The hub of the network is Bassett Medical Center in Cooperstown, which, in addition to traditional hospital-based care such as maternity, surgical and medical care, also offers more sophisticated diagnostic, surgical and procedural capabilities. Learn more at www.bassett.org.

About Strata Decision Technology

Strata Decision Technology is a pioneer and leader in the development of innovative SaaS solutions for financial and business analytics and decision support in healthcare. Founded in 1996, the Company’s solutions are used by over 1,000 healthcare organizations, including major academic medical centers, community hospitals, children’s hospitals and many of the largest and most influential healthcare systems in the U.S.

The company provides a single integrated software platform for budgeting, decision support, financial forecasting, strategic planning, capital purchase planning and tracking, management reporting, and performance management. The solutions are enhanced by a full range of services, including software implementation, data integration, application hosting, and technical support. The company’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

Contact: Lisa Chernikoff, Strata Decision Technology, (312)827-7635, [email protected].

Regional Health System Serving Three States to Leverage StrataJazz to Make Data on the Cost of Care More Accessible and Actionable

CHICAGO, IL, June 23, 2014 – From the floor of the 2014 Healthcare Financial Management Association’s Annual Institute (ANI), Strata Decision Technology (Strata Decision) announced today that St. Luke’s, a regional health system based in Duluth, Minnesota, has selected StrataJazz™ for Decision Support.

St. Luke’s also renewed their long-term agreement on other StrataJazz modules including Operating Budgeting, Long-Range Financial Planning, Rolling Forecasting, and Capital Planning. With the complete StrataJazz platform, they will have their financial data in a single database within a single application and workflow to support their financial planning, management and decision support needs.

“Strata Decision was the clear choice for St. Luke’s because they share our vision for bringing clinical and financial information together—and they have been a partner with our organization since 2005,” said Eric Lohn, Chief Financial Officer at St. Luke’s. “Making our cost data more accessible and actionable will enable us to understand the true cost of care system-wide. This will ultimately allow us to use our resources more effectively to deliver even better care to the patients we serve.”

StrataJazz will be integrated with their existing enterprise systems, including their Meditech Electronic Health Record (EHR) and Enterprise Resource Planning (ERP) applications, which will provide St. Luke’s the ability to bring together clinical and financial information to assess and improve overall outcomes.

“We are excited to expand our partnership with St. Luke’s and support their work in understanding and reducing the cost of healthcare delivery across all settings of care. The end result is further driving margin so that St. Luke’s can fuel their overall clinical mission,” said Dan Michelson, Chief Executive Officer of Strata Decision Technology. “Advanced cost accounting has become mission critical and we are seeing a number of well-respected healthcare providers in the state of Minnesota taking the lead and setting the path for others to follow.”

St. Luke’s is part of Strata Decision Technology’s growing list of Minnesota-based clients that also includes Allina Health System, Fairview Health Services, and Park Nicollet Health Services.

About St. Luke’s

St. Luke’s is a regional healthcare system serving approximately 500,000 residents of northeastern Minnesota, northwestern Wisconsin and the western Upper Peninsula of Michigan. It includes a multi-specialty hospital in Duluth, a critical-access hospital in Two Harbors, and 38 primary and specialty clinics throughout the region. Additional information about St. Luke’s and its services is available at http://www.slhduluth.com/Newsroom.aspx or www.facebook.com/stlukesduluth.

About Strata Decision Technology

Contact:

Lisa Chernikoff, Strata Decision Technology, (312)827-7635, [email protected]