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

July 28, 2015 08:00 ET

Covenant Health Selects StrataJazz for Decision Support and Budgeting

Leading Tennessee Health System to Leverage StrataJazz® to Drive Financial Performance, Manage Costs, and Improve Value

CHICAGO, IL--(Marketwired - July 28, 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 Covenant Health (Covenant) has selected StrataJazz® to enhance financial performance and continue to manage the cost of care.

Covenant Health, based in Knoxville, TN, is a comprehensive, community-owned health system dedicated to improving the health of the people it serves. Established in 1996, Covenant is comprised of nine acute care hospitals and over 1,500 affiliated physicians. For several years, the health system has been named among the top 100 integrated health systems in the country by IMS, a national healthcare information and data analysis organization.

"We chose Strata because they have a comprehensive tool for financial planning and decision support which will also include data to allow us to better understand costs-all within one platform," said John Geppi, Chief Financial Officer at Covenant.

The organization will complete their implementation of StrataJazz for Decision Support and Financial Planning in early 2016. Covenant will integrate StrataJazz with their existing enterprise systems.

"The rapidly changing dynamics of healthcare delivery and reimbursement mean that hospitals and health systems must shift their focus from the top line to the bottom line. Covenant understands that this brave new world requires a new mindset, toolset, and skillset, which includes cost data that is more accurate, accessible, and actionable," stated Dan Michelson, Chief Executive Officer of Strata.

StrataJazz provides a single database cloud-based platform for budgeting, forecasting, planning, cost accounting, and contract analytics while integrating with virtually any data source. Strata Decision's extensive library of best-practices enhances the accuracy, efficiency and effectiveness of critical financial planning and management processes.

About Covenant Health
Covenant Health is a comprehensive, community-owned health system dedicated to improving the health of the people it serves. Established in 1996 by the consolidation of Fort Sanders Health System, Knoxville, Tennessee, and MMC HealthCare System in Oak Ridge, Covenant Health is governed by a voluntary board of directors made up of community leaders and medical professionals.

Covenant Health includes nine acute care hospitals in East Tennessee and a psychiatric hospital in East Tennessee's Blount County. Approximately 10,000 people are employed by Covenant Health and its member organizations. Working together with nearly 1,500 affiliated physicians, these healthcare professionals deliver quality care to thousands of patients throughout East Tennessee.

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 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.

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