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

Strata Decision Technology, L.L.C.

May 12, 2016 10:44 ET

Hospital for Special Surgery Selects Strata as an Analytics and Performance Platform

StrataJazz® Technology Will Help Continuously Improve Patient Costs

CHICAGO, IL--(Marketwired - May 12, 2016) - 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 improvement for healthcare providers, announced today that Hospital for Special Surgery (HSS) has selected StrataJazz for Cost Accounting and Continuous Improvement.

HSS is a world leader in orthopedics and rheumatology, employing over 4,000 employees and performing nearly 30,000 surgeries per year -- more than any other hospital in the nation. With a main campus in Manhattan, HSS has outpatient centers in Long Island, Paramus, NJ, Queens and Stamford, Conn. as well as orthopedic rehabilitation in Jupiter, Florida.

"It is important to always identify quality-focused cost-efficient opportunities so we can best serve our constituents," stated Stacey Malakoff, Chief Financial Officer at HSS. "With StrataJazz, we have the ability to bring our patient and financial data together to further understand cost drivers of the services we provide."

For the second consecutive year, StataJazz was named #1 in KLAS, the Consumer Reports for healthcare IT, for Decision Support -- Business. The Decision Support (cost accounting and payor contract modeling) and Continuous Improvement modules provide healthcare systems an understanding of the cost and margins for delivering care across episodes of care, service lines and patient populations. It also provides the ability to identify opportunities to reduce variation, waste, inefficiency, and ultimately improve care on a continuous basis.

"HSS is a world-class organization with a reputation for delivering world-class care and we are thrilled to have the opportunity to partner with them," stated Dan Michelson, Chief Executive Officer at Strata. "StrataJazz will help them identify ways to improve the value of the care they provide, from both a clinical and financial perspective, to all of the patient they serve."

About Hospital for Special Surgery

Founded in 1863, Hospital for Special Surgery (HSS) is a world leader in orthopedics, rheumatology and rehabilitation. HSS is nationally ranked No. 1 in orthopedics, No. 3 in rheumatology and No. 7 in geriatrics by U.S. News & World Report (2015-2016), and is the first hospital in New York State to receive Magnet Recognition for Excellence in Nursing Service from the American Nurses Credentialing Center four consecutive times. HSS has one of the lowest infection rates in the country. HSS is a member of the New York-Presbyterian Healthcare System and an affiliate of Weill Cornell Medical College and as such all Hospital for Special Surgery medical staff are faculty of Weill Cornell. The hospital's research division is internationally recognized as a leader in the investigation of musculoskeletal and autoimmune diseases. Hospital for Special Surgery is located in New York City and online at www.hss.edu.

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 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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