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

January 14, 2015 13:00 ET

Good Shepherd Health System Selects Strata Decision for Cost Accounting

Texas Community Health System Expands Agreement to Leverage StrataJazz™ as a Complete Financial Platform to Better Manage Cost and Improve Value

CHICAGO, IL--(Marketwired - January 14, 2015) - Strata Decision Technology (Strata Decision), 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 Good Shepherd Health System (Good Shepherd) has selected StrataJazz® for decision support and cost accounting. 

Good Shepherd includes two medical centers, more than 30 provider office locations, emergency services, immediate care centers, a full range of outpatient services, and a health and wellness facility. It has been ranked by Becker's Hospital Review as one of the "Top 100 Community Health Systems," and won the prestigious Texas Healthcare Quality Improvement Award.

This new agreement adds cost accounting to Good Shepherd's current deployment of StrataJazz modules, which the organization has used for financial planning and forecasting since 2010. Good Shepherd will now be able to bring clinical and financial data together to make more informed decisions that drive better value for their patients and community.

"We chose Strata Decision because they proved that they were not only knowledgeable and capable but also passionate about helping healthcare organizations to better understand costs and making that data instantly available and actionable," said Tim Pileggi, Interim Chief Financial Officer at Good Shepherd. "We are excited that adding cost accounting will enable us to better understand out costs and continue to enhance the value we provide to our patients."

The system will integrate StrataJazz with their existing enterprise systems, including their Electronic Health Record (EHR) and Enterprise Resource Planning (ERP) from MEDITECH. The implementation will be completed in February 2015.

"In order to adjust to the shifting dynamics in their market, Good Shepherd is investing in both better understanding cost and more effectively managing it," stated Dan Michelson, Chief Executive Officer of Strata Decision "Our team is thrilled to expand our partnership with Good Shepherd by providing them with a complete financial performance platform to help them better serve their community."

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 Good Shepherd Health System

Good Shepherd Health System includes two medical centers, more than 30 provider office locations, emergency services, immediate care centers, a full range of outpatient services and our health and wellness facility, the Institute for Healthy Living. Our multi-specialty network of providers is focused on patient-centered care that improves the lives of patients as well as the overall wellness of the communities we serve. As an addition to the rich heritage of the Good Shepherd Health System, we are committed to providing excellence in healthcare.

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. For more information, please visit www.stratadecision.com.

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