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

January 28, 2016 09:00 ET

Strata Receives #1 Ranking as KLAS Category Leader for Decision Support - Business for Second Consecutive Year

Prestigious "2015/2016 Best in KLAS Report" Names StrataJazz® Top-Ranked Application on Customer Experience for Cost Accounting and Service Line Analytics

CHICAGO, IL--(Marketwired - January 28, 2016) - 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 improvement for healthcare providers, announced today that StrataJazz® earned top honors for the second consecutive year as the KLAS 2015/2016 Category Leader for Decision Support - Business in the 2015/2016 Best in KLAS: Software and Services report.

KLAS, an independent healthcare research organization, reserves the "KLAS Category Leader" designation for healthcare vendors who diligently seek to align with provider needs, and provide unwavering determination to deliver excellence with passion. The "KLAS Category Leader" designation is based on provider surveys and interviews that KLAS conducted throughout the year. According to KLAS, the "KLAS Category Leader" denotes vendors that have excelled in their respective market segments and demonstrated leadership in working with customers to resolve issues and match expectations to reality.

"KLAS is the gold standard for customer feedback, often referred to as the 'Consumer Reports' for healthcare information technology. Being named a 'KLAS Category Leader' for the second year in a row is great acknowledgment that we are delivering for our customers, which is the single most important thing we focus on here at Strata," said Dan Michelson, Chief Executive Officer of Strata Decision Technology. "Our passion is to help our healthcare providers drive margin to fuel their clinical mission. As we move towards a value-based reimbursements system, cost accounting has become a mission critical application. Our focus is giving hospitals and health systems the insight they need to reduce unnecessary waste and variation so they use their finite resources more effectively in support of the community they serve."

Founded in 1996, Strata Decision's customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S. The company has also been recognized with the Chicago Innovation Award, as one of Becker's Healthcare 150 Great Places to Work in Healthcare, #1 in Black Book Ranking and inclusion on the Inc. 5000 Fastest Growing Companies list, among many other industry accolades.

In addition to the quantitative rating of the company's performance, customers also provided KLAS qualitative feedback. The following are selected commentaries; please visit www.klasresearch.com for a complete view:

  • "The StrataJazz Decision Support solution continues to get better. We love using it, and we don't have any complaints or suggestions for improvement. It is just so easy for the end users to use, and the response time for StrataJazz Decision Support is far superior to the response time of our old tool." (Director/Physician January 2016)
  • "The Strata Decision leadership people are very accessible. They are willing to address any issues quickly and with a personal touch that providers don't see with other vendors." (Director/Physician January 2016)
  • "I really like that Strata Decision hosts the StrataJazz Decision Support product. That means we don't have to worry about upgrades or maintenance." (Director/Physician January 2016)
  • "StrataJazz Decision Support is very well designed and user friendly. It returns results very quickly. It is very intuitive, and it has robust reporting capabilities. Recently, Strata Decision has been very proactive in staying on top of growth. There is a dedicated service representative for our account who responds immediately. If I had to do everything again, then I would choose Strata Decision." (Manager/Analyst December 2015)
  • "StrataJazz Decision Support runs a lot faster than most systems I have worked with; it is easy to get information in it, and it is simple to do things like costing. Everything is so much easier with this system because I don't have to manually produce the reports. Once the report and the interface have been set up, things are generated automatically. I don't have to worry about things like daily patient information; the system takes care of that for me. I just have to make sure it balances out when the information goes in." (Manager/Analyst December 2015)
  • "I like Strata Decision's support. When I tell Strata Decision that something is not working right, they actually try to fix it and improve it." (Manager/Analyst December 2015) 
  • "So far we have been very impressed. With the systems we have had prior to StrataJazz Decision Support, running reports has taken between 20 minutes and several hours. With StrataJazz Decision Support, we can run a report in less than a minute. We are bringing systems together now, and we didn't have the capability to do that before. We haven't really come across a weakness yet. There are issues on our end with our systems, but there aren't really any issues with StrataJazz Decision Support." (Manager/Analyst November 2015)
  • "What differentiates Strata Decision is their customer service and StrataJazz Decision Support's customization abilities. Strata Decision works with us so that we can report on the things we need to report on and bring our systems together." (Manager/Analyst November 2015)
  • "I have to strain to think of bad things about Strata Decision. I really enjoy working with them. They have a lot of enthusiasm, focus, and dedication to customers. The ownership change has been good for Strata Decision. They have grown into a world-class software company. Dan Michelson and the other executives have the proper amount of awe for the founders but are still willing to rip things apart. Dan is a humble leader who takes pride in his team. He is a great man who has surrounded himself with good people. The executives have kept the original spirit of the company while transforming it as it has grown." (Executive November 2015)

About StrataJazz Decision Support
StrataJazz Decision Support combines advanced cost accounting algorithms with payer contract modeling to help healthcare providers understand the true cost and margins across episodes of care, service lines and patient populations. It is a module in the StrataJazz platform, which is a single database, cloud-based platform that is used for financial planning, including long-range financial planning, operating budgeting and capital planning, as well as for decision support and continuous improvement.

About KLAS
KLAS is a research firm on a global mission to improve healthcare delivery by enabling providers to be heard and counted. Working with thousands of healthcare professionals and clinicians, KLAS gathers data on software, services, medical equipment and infrastructure systems to deliver timely reports, trends and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. Follow KLAS on Twitter at www.twitter.com/KLASresearch.

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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