SOURCE: Strata Decision Technology, L.L.C.

July 21, 2015 08:30 ET

Bassett Healthcare Network Expands StrataJazz Platform

Six-Hospital New York Health Network to Leverage StrataJazz for Equipment Replacement Planning

CHICAGO, IL--(Marketwired - July 21, 2015) - Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial analytics and performance tools for financial planning, decision support and continuous cost improvement for healthcare providers, announced today that Bassett Healthcare Network (Bassett) has selected StrataJazz for Equipment Replacement.

Bassett Healthcare Network, with its corporate office based in Cooperstown, NY, 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 a 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 Equipment Replacement identifies opportunities to drive cost savings through group purchasing, standardizes processes, and facilitates overall better decision-making in the capital allocation process. The solution integrates with Basset’s asset management system and clinical engineering system, providing greater visibility into the status and age of critical assets to plan more proactively and purchase at more optimal prices.

“At Bassett, we are committed to making the best capital investments for both our patients and our bottom line,” said Sue Andrews, Bassett Medical Center’s Chief Financial Officer. “With this new module of StrataJazz, our team will have a centralized database for our routine capital requests to help increase our purchasing power and ability to drive down acquisition costs on replacement needs. This more data-driven approach also ensures that our replacement spending is most aligned with our mission to improve the health of the community that we serve.”

Bassett completed their implementation of StrataJazz Equipment Replacement in July. The organization leverages StrataJazz as a single integrated financial platform for their capital planning, equipment replacement planning, operating budgeting and management reporting. They have been a Strata client since early 2014.

“Like most health systems, Bassett is being asked to do more for less. They have had to become even more focused and strategic with their capital spend in recent years. This adds pressure to ensure they make the right decisions on how they allocate and manage capital,” stated Dan Michelson, Chief Executive Officer of Strata. “StrataJazz provides the data that Bassett needs to make more well-informed decisions, improve efficiency, and best leverage their capital resources.”

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, a 180-bed acute care teaching hospital 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.

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