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

June 24, 2015 07:30 ET

OSS Health Selects Strata for Cost Accounting

Top Orthopedic Hospital to Leverage StrataJazz® to Better Manage Cost and Improve Value

CHICAGO, IL--(Marketwired - June 24, 2015) - From the floor of the 2015 Healthcare Financial Management Association’s Annual Institute (ANI), 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 OSS Health (OSS) has selected StrataJazz® for decision support and financial planning.

OSS Health, based in South Central Pennsylvania, is comprised of the OSS Orthopaedic Hospital, five physician group locations, and two urgent care locations. It provides the area's most comprehensive orthopedic care.

OSS will leverage the StrataJazz financial analytics and performance platform for decision support and cost accounting, which provides the ability to marry clinical and financial data to make more informed decisions and service line analytics to gain insights into their business and their bottom line. OSS will also use StrataJazz for budgeting and management reporting to streamline their financial planning process and allow managers to better understand and take action on variances.

"We chose Strata Decision because of their experience and passion for helping all types of healthcare organizations to improve financial planning processes and manage costs," said Dale Bushey, Chief Financial Officer at OSS Health. "We look forward to using StrataJazz to help us better understand costs across the entire enterprise-and in turn, enhance the value we provide to the patients we serve."

OSS will integrate StrataJazz with their existing enterprise systems, including their Electronic Health Record (EHR) and Enterprise Resource Planning (ERP) from CPSI for the hospital and Medent for the physician practice. The implementation will be completed in late 2015.

"In order to adjust to the shifting dynamics in healthcare, OSS is investing a platform that will allow it to plan better and perform better," stated Dan Michelson, Chief Executive Officer of Strata Decision. "StrataJazz will help OSS to navigate both their near-term financial performance and the big picture of driving margin to fuel their mission."

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 OSS Health

The premier provider of orthopaedic services in South Central Pennsylvania, OSS Health has five locations in three counties, including two Urgent Care Centers; an Ambulatory Surgery Center for outpatient surgery; an orthopaedic specialty hospital for inpatient surgeries; and three full-scale physical therapy operations. It was recently recognized as a Top Performer, among the top 33% in the country, on Key Quality Measures by the leading accreditor of health care organizations in the US. Current OSS locations include York (Powder Mill and OSS Health East), Gettysburg, Hanover, and Mechanicsburg. OSS Health was founded in 2002 through a merger of two leading orthopaedic practices. Its top-tier physicians provide a full range of musculoskeletal services, from diagnostic tests to spine and joint care to surgery and rehabilitation. The 30-room Orthopaedic Hospital was opened in 2010 and is located on OSS's Powder Mill campus. OSS was voted the Best of York County for Specialized Medical Services by the York Sunday News readership four years in a row and as one of the Top 100 Places to Work in Pennsylvania.

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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