The pressure to quantify your impact on the bottom line can be a challenging expectation, especially for various system users outside of healthcare finance circles. From a hospital Finance perspective, seeing “claimed savings” and dollar amounts attached to initiatives where those figures have not been verified by the appropriate Finance department representatives can result in confusion, miscommunications, inaccuracies, etc. As a result, there can often times be a tug-of-war relationship within healthcare organizations between Finance and other departments claiming savings. It is common to try and lockdown certain systems and/or data to prevent misuse of financial data outside of the established processes and pathways. While certainly understandable to a degree, Strata strongly encourages the democratization of data, well outside of Finance’s walls. When the systems are implemented according to best practices, they can and should be the financial source of truth for everyone at the organization.

Join us as we highlight several client stories and their efforts to expand their Strata system userbase to non-finance users. We will share Decision Support roll-out success strategies, Finance and non-Finance department partnership tactics, and how cost data should be used to engage clinicians and influence true behavior change.

Objectives
• Understand best practices for Decision Support and Continuous Improvement roll-outs
• Effectively communicate the need and value of expanding cost data to non-Finance users
• Deliver actionable tactics to strengthen Finance and non-Finance departmental collaborative relationships
• Highlight several Strata client stories that support the importance of empowering non-Finance users

While having a tool like StrataJazz^® Continuous Improvement to identify and track variation-based savings opportunities can be a game changer for any organization, it’s not enough to drive out costs. Anderson Regional Medical Center will tell their “CI Readiness Journey.” Specifically, they will talk about the three main factors that must be in place to align with successful cost reduction programs:
1. Priority for Savings
2. Governance Structures
3. Resources

In this session, you will learn how an organization like Anderson Regional’s ensures that all three factors are firmly in place with minimal risks or gaps, and how Strata makes sure that Continuous Improvement is successful with clients via a newly implemented, onsite Readiness Assessment before all implementations. Anderson Regional will speak to their assessment this past May, and share initial assessment results, their response to areas of improvement, and ultimately, show how their updated assessment results have led to their successful go-live that allowed them to hit the ground running.

We have a best-in-KLAS decision support tool. Now what? Value-based payment models continue to gain momentum and adoption. Reducing costs is an ever-increasing priority for healthcare systems everywhere. How do we best leverage a decision support tool to navigate this environment? How do we get the right data in front of the right users? How do we ensure they trust and utilize it? How do we assist them in making better decisions to both improve quality outcomes and margin performance? In other words, how do we leverage these analytics tools to drive action? Since implementing StrataJazz Decision Support in 2016, MaineHealth and Mercy have continued to push the envelope to get actionable decision support data in front of the right people, in the right place, at the right time. In this session, members of MaineHealth and Mercy’s decision support team will share how they have leveraged decision support tools to drive better outcomes and better margins.

Learning Objectives

1. Actionable Dashboard & Reporting Design
2. Gaining buy-in from end users
3. Training end users for self-service
4. User management and data security

The book and film, Moneyball, tells the true story of the Oakland As baseball team’s transformation during its 2002 season. The As have only a tiny fraction of the bankroll of most major league teams, and can’t attract big players who command big money. Simply, they needed to produce better outcomes and more quality baseball with a set of fixed resources. This sounds like a familiar challenge that also faces every health care provider today.  Augusta Health will be hosting this webinar to share their journey of deploying Moneyball to their health system.

Strata and John Muir Health have partnered together to transition from a traditional budgeting process to a dynamic planning process. Through this transition, they have established a process and cadence to ensure accountability and achieve their financial targets. Learn more about this partnership and how Strata and John Muir have transitioned the culture from preparing annual budgets to rolling forecasts and focusing on financial metrics all the way from the Board to department level.

Learning Objectives:
1. Learn about one approach in starting and continuing your journey to Advanced Planning
2. Understand the connection between Management Reporting and Rolling Forecasting
3. Learn about continuing the evolvement of the Advanced Planning Process

The changing landscape has made it mission critical for hospitals and health systems to develop collaborative approaches to make the right operational and strategic decisions to better run their organizations and serve their communities. In this session, we will focus on how you can turn your organization into a Center of Excellence for financial planning, analytics, and performance. We will share the “playbook” that outlines best practices and well as the “plays” that your peers are running.

We will also share new product features recently launched and coming soon to help your organization prepare for the changes ahead.

Changes in the marketplace, namely the shift to outcomes-based reimbursement, call for new approaches to financial management. Healthcare leaders are quickly realizing that now is the time to re-define core practices such as the annual budget process if they want to achieve success. Join this webinar to learn different approaches for moving beyond the budget that will create a new mindset among your managers and drive results for your organization.

Financial leaders can identify where and how to trim budgets, but it’s up to CEOs to get buy-in from an organization’s leadership and staff, and to address the cultural, quality, and staffing concerns associated with deep cuts.

Join this webinar to hear how Mission Health System, a six-hospital system based in Asheville, NC. tackled this approach by finding new efficiencies without threatening quality.

Shrinking margins and new reimbursement structures have made better understanding and aggressively managing costs requirements for healthcare provider organizations. This is a daunting task, especially for the many hospitals and health systems that don’t even know if they are making or losing money on service lines or episodes of care. This lack of accurate, reliable cost data is an enormous risk not just to an organization’s bottom line, but also to their ability to deliver on their mission. 

That’s why thriving healthcare organizations have strategies in motion to provide better access to more accurate cost data, as well as the ability to drill down into that data at a deeper, more actionable level. Not sure where your organization stands on its cost accounting journey or even where to start? This webinar highlights the four biggest mistakes that providers are making with cost accounting, including simple solutions to these challenging problems.

After This Webinar You’ll Be Able To:
-Describe the industry challenges involving cost accounting
Illustrate how robust cost-accounting data allows healthcare provider organizations to make smarter financial and clinical decisions
Analyze cost-accounting strategies and processes to better understand which are most effective and why
-Improve your understanding of costing methodologies and the need for cost accounting across the entire continuum of care

In an era of mounting fiscal uncertainty marked by flat, or even downward trending net revenue, the need for cost reduction has never been greater. In fact, according to a recent Strata Decision Technology survey of 100 healthcare providers, 88% of organizations have cost reduction targets but only 17% are achieving their goals. At the core of these failed efforts is a lack of understanding about “the how” of achieving real, measurable cost savings. This session will provide attendees with a step by step guide to creating and managing an effective cost improvement program-as well as ensuring that savings stick for the long-term. From organizational structure to role definitions to target setting, this webinar will share strategies for success, as well as the key mistakes that so many healthcare organizations are making. This session will prepare attendees to drive action within their organization and to drive out costs.