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

November 04, 2015 07:00 ET

Strata Decision Kicks Off 2015 Client Summit

Mission Health Receives 2015 LEAP Award

CHICAGO, IL--(Marketwired - November 04, 2015) - Strata Decision Technology (Strata Decision), a leading provider of cloud-based performance analytics for financial planning, decision support and continuous cost improvement, today announced highlights of the 2015 Strata Decision Summit, an educational and networking event focused on the future of healthcare finance.

The Summit is attended by hundreds of healthcare professionals from across the Company's client base of over 180 healthcare delivery systems and 1,000 hospitals. The keynote presentation focused on the disruptive changes taking place in the healthcare and the new business models that are being created in response. The presenters shared their perspectives on the actions that can be taken to drive better clinical and financial outcomes. The keynote featured:

  • Dan Michelson, Chief Executive Officer at Strata Decision Technology
  • Ron Paulus, MD, CEO and President at Mission Health
  • Keith Churchwell, MD, Vice President of Cardiovascular Services and Steve Allegretto, Vice President of Financial Planning, Analysis and Decision Support from Yale-New Haven Health System
  • Tom Main, Partner & U.S. Market Leader at Oliver Wyman

"We've all seen the headlines about American healthcare costs spiraling out of control, but rarely do we hear about the tangible solutions that healthcare organizations are effectively deploying," said Dan Michelson, Chief Executive Officer of Strata Decision Technology. "At this year's Summit, our clients are sharing best practices related to financial planning, budgeting and decision support and how their organizations are driving margin to fuel their clinical mission."

Mission Health Receives 2015 LEAP Award

Mission Health in Ashville, North Carolina was named the recipient of the 2015 LEAP Award for its efforts in leveraging Strata's budgeting and forecasting solutions to identify and deliver over $60 million in margin improvements. The LEAP (Lead, Excel, Achieve, Progress) Award recognizes healthcare providers for outstanding performance in the areas of finance and strategy to benefit the community that they serve.

Mission leverages the StrataJazz® financial analytics and performance platform in support of their goal of getting each patient to the desired outcome, without harm, without waste, and with an exceptional patient experience. Mission utilizes the complete Strata platform for cost accounting, decision support, budgeting, long-range planning, capital planning and rolling forecasting to support their financial, operational, strategic and clinical goals. In their financial planning process, Mission used the application to help determine desired margin levels, allocate targets by hospital and hardwire those targets into their operating plan.

Mission is North Carolina's sixth-largest health system with over 1,000 physicians and 10,000 employees. In addition to winning the 2015 LEAP Award, Mission Health has been consistently recognized as one of the nation's Top 15 Health Systems by Truven Health Analytics.

National Story Contest Winner Announced

The winner of the 2015 National Story Contest, The Best Care, The Lowest Cost: One Idea at a Time, was also announced at the Strata Summit. The contest, launched by Costs of Care, a clinician led non-profit, along with the Healthcare Financial Management Association, Yale-New Haven Health System and Strata Decision Technology, solicited submissions from patients, clinicians and administrators detailing projects they've developed to reduce healthcare cost and improve overall value.

The winning submission came from Patricia Czapp, MD of Anne Arundel Medical Center in Maryland. Titled, "Doc I Need an MRI," the essay outlined a unique approach to provide better care and reduce Emergency Department (ED) overuse by a high risk population of individuals suffering from preventable complications of chronic conditions. The net effect was a 34% decrease in 911 calls, a 28% decrease in ED visits, 43% decrease in hospital admissions and an 80% decrease in hospital re-admissions. The essay told the story of how the organization leveraged data to identify ED and hospital overuse from a specific high-rise apartment building that housed disabled and low-income adults. Their solution was to set up a medical practice on the first floor of the apartment building to provide better care and better meet the social needs of a specific patient population.

Dr. Czapp was awarded first place and is featured alongside other entrants in the free e-book, The Best Care, The Lowest Cost: One Idea at a Time, now available at www.stratadecision.com/nationalstorycontest.

About Strata Decision Technology

Strata Decision Technology provides a cloud-based financial analytics and performance platform that is leveraged by healthcare providers for financial planning, decision support and continuous cost improvement. The Company's StrataJazz® application is a single integrated software platform that includes modules for strategic planning, capital planning and equipment replacement, operating budgeting and management reporting, 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 headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

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