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

January 29, 2015 08:15 ET

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

Prestigious "Best in KLAS Report" Finds StrataJazz® Top-Ranked Application for Cost Accounting Based on Customer Feedback

CHICAGO, IL--(Marketwired - January 29, 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 StrataJazz earned top honors as the KLAS Category Leader for Decision Support - Business in the 2014 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 often referred to as the 'Consumer Reports' for healthcare information technology and being named a KLAS Category Leader in Decision Support - Business is a great accomplishment for our team and great acknowledgment that we are delivering for our customers," said Dan Michelson, Chief Executive Officer of Strata Decision Technology. "Providers recognize that we must bend the cost curve in order to survive. Advanced cost accounting via our decision support application makes cost data liquid so providers can understand value and make better decisions for their patients and their community."

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 was recently named the winner of the 2014 Chicago Innovation Award and to the Inc 5000 List of Fastest Growing private-companies for the second consecutive year.

In addition to rating the company's performance, customers also provided KLAS qualitative feedback on working with StrataJazz Decision Support. The following are selected commentaries that may not represent the whole of provider sentiment related to this product or service. Visit KLASresearch.com for a complete view:

  • "The whole customer service experience has just been great for us." (Director, January 2015)
  • "Working with the Strata Decision team has just been phenomenal." (Director, January 2015)
  • "StrataJazz Decision Support is a joy to use. It is very intuitive, and the site response time is superb." (Director, November 2014)
  • "The leaders at Strata Decision truly care about their clients and about delivering a product that meets the clients' needs." (Director, November 2014)
  • "StrataJazz Decision Support is easy to navigate. One thing we really like is the customer support. The service people are very timely and helpful with their responses." (Analyst, October 2014)
  • "Strata Decision is very agile. They constantly monitor what healthcare providers need and then design and enhance their product to fit them." (CFO, September 2014)
  • "Strata Decision consistently reaches out, even at the CEO level, to both ascertain our satisfaction with the product and ask what we need in the future." (CFO, September 2014)
  • "I like knowing that Strata Decision has my same values." (Director, August 2014)
  • "We love Strata Decision. Our decision support team has been amazing." (Director, July 2014)
  • "Going with Strata Decision was one of the best decisions I have ever made. We can tell they have gone through the process of identifying key success factors for a successful implementation." (VP/other executive, August 2014)
  • "Strata Decision is great about setting expectations up front about what is included in the scope. They meet the deadlines, have good project plans, do weekly calls, and track issues." (VP/other executive, August 2014)
  • "StrataJazz Decision Support is far above and beyond any other program we have worked with as far as ease of use." (Director, July 2014)

An October 2013 Harvard Business Review article "The Strategy That Will Fix Health Care" by Michael Porter and Thomas Lee highlighted cost accounting as mission critical for healthcare providers. It also cited the current information gap stating, "For a field in which high cost is an overarching problem, the absence of accurate cost information in health care is nothing short of astounding."

StrataJazz Decision Support provides a single database cloud-based platform that 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.

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 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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