We invite you to save the date and get excited for two days of dynamic, engaging content that will help you shape your financial planning, analytics and performance strategies—from home.
Now more than ever, we believe that meaningful connections, shared ideas, and innovation will help unlock transformative solutions to carry the healthcare industry forward. So to that end, we are committed to providing you the platform to continue to connect with and learn from the Strata customer network.
With the prospect of physical gatherings unlikely in the coming months, we are thrilled to announce that this year, Lift20: the Strata Summit Annual User Conference is moving to a completely free, fully digital two-day experience which will allow the entire Strata customer network to participate.
***Registration details to come***
It is not uncommon for healthcare organizations to enlist the services of third-party consulting firms to help them identify cost savings opportunities, organizational inefficiencies, and other performance improvement program-related support. In fact, these types of engagements can be extremely valuable.
But when the consultants leave, hospitals are often left with a lot. Without the consultants, there are many savings-aligned efforts and initiatives to manage, countless action items or follow-ups, and dashboards that need to be updated. Some organizations may even extend or re-engage with their consultants, in a costly process that becomes a cycle thought to be inevitable.
For many more organizations, there is now a more effective and sustainable way. Rather than spending millions of dollars for a 3+ month consultancy engagement, healthcare providers are leveraging their own data and resources to get better savings opportunities.
During this session, you’ll learn how organizations like yours are leveraging centralized, automated tracking to drive continuous improvement efforts. We will share how organizations in our network have taken ownership of the identification and tracking of cost savings initiatives to maintain a plan and process for the future—empowering them to step off the consultant merry-go-round.
StrataJazz® OnePlan is the first purpose-built advanced planning platform for hospitals to help address the major budget issues that they face. OnePlan provides a radically more efficient, accurate, agile and accountable approach to planning, providing hospitals and healthcare systems the ability to significantly improve their performance.
With this latest version of StrataJazz introduced this week at Strata’s Lift19 user conference, OnePlan addresses the archaic process many hospitals and health systems still use to budget and plan. Thousands of hours are spent creating a budget that is typically tens of millions of dollars off the mark and cast aside almost as soon as it is submitted. Rather than helping to control costs and build strategic alignment, the budget is viewed as a distraction, providing little to no value and even negatively impacting performance.
- The typical large healthcare delivery system spends four to six months and up to 20,000 hours building their annual budget.
- Senior executives and financial managers devote up to 30 percent of their overall time throughout the course of the year to this process.
- 66 percent of healthcare chief financial officers say their organization’s budget is irrelevant within the first three months due to built-in inaccuracies and the difficulty of adjusting the plan to changing conditions.
During this one-hour session, you will learn how StrataJazz OnePlan™ has helped many organizations achieve a more accurate, efficient, agile and accountable planning process.
The need to reduce costs is driving up demand for accurate price information and traditional costing methodologies such as RVUs are falling short.
Join this elite group of industry leader for a conversation about how Time-Driven Costing (TDC™) can not only improve the accuracy of costs but also provide valuable insights into labor utilization and variation that can ultimately lead to cost reduction opportunities.
During the discussion, you’ll learn:
The difference between RVU costing and TDC
The benefits of TDC
How Owensboro and Montefiore are using TDC to drive change in their organizations and where you can start
Understanding the cost of COVID-19 patients is an essential part of managing through these uncertain times. Join Strata’s team to discuss how costing today may be different than approaches taken prior to the COVID-19 pandemic.
This recording is available to providers upon registration with a business email address
Join us to hear about methods you can use to more efficiently and effectively project your financial plans, define targets, and make resource allocation decisions. Watch this webinar to answer the following:
- How are other organizations measuring the current and projected impact of COVID-19 populations on their inpatient financials?
- What is the updated guidance on financial modeling assumptions?
- How should I isolate COVID-19-related data for analysis and planning?
- Since my budget (even with flexing) is no longer applicable, how do I update my targets and my plan going forward?
- How do I get more immediate support to my forecasting questions?
This recording is available to providers upon registration with a business email address.
Join Strata to learn how organizations are approaching planning for COVID-19 recovery. As the impact varies across the nation we will be sharing the various approaches that organizations are starting to take to recover from the financial impact of COVID-19.
The webinar is available to providers upon registration with a business email address.
In this time of unprecedented financial and operational upheaval, health systems will need to ‘look under every rock’ to find opportunities to improve their financial stability. As elective surgeries and outpatient visits begin to return toward normal, it is imperative that health systems manage the largest category of expenses diligently. Doing a careful review of pay practices and staffing, then instilling accountability for taking action, can be a source of several million dollars of added margin.
Please join to hear how Kristi Atkinson, Manager of Budgeting & Cost Accounting, from Nebraska Medicine used StrataJazz to identify hidden sources of unnecessary cost in their staffing and pay practices.
This recording is available to healthcare providers upon registration with a business email address.
Join Strata to learn how organizations are approaching planning for COVID-19 recovery. As the impact varies across the nation we will be sharing the various approaches that organizations are starting to take to recover from the financial impact of COVID-19.
The webinar is available to providers upon registration with a business email address.