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

February 29, 2016 12:13 ET

Strata Receives the '2016 Leading Edge Award' From Healthcare Informatics

LAS VEGAS, NV--(Marketwired - February 29, 2016) -  At a special ceremony held during the 2016 Healthcare Information Management Systems Society (HIMSS) Conference, Healthcare Informatics announced that Strata Decision Technology (Strata) has been named the recipient of the prestigious 'Leading Edge Award' for StrataJazz®, an application designed to drive cost savings in healthcare. The award honors innovative work on the part of forward-thinking healthcare IT companies in the categories of clinician workflow improvement, interoperability and cost savings. Healthcare Informatics serves as the leading source of information for professionals involved in the planning, development, and implementation of important technological trends that define tomorrow's healthcare. 

"What is fundamentally important is the need for innovation in key areas such as cost containment," said Mark Hagland, Editor of Healthcare Informatics. "We are gratified to be able to recognize vendor companies, such as Strata, that are moving ahead to provide the industry with solutions that can improve the health of communities and contain costs."

According to the HIMSS Healthcare Provider Innovation Survey, reducing the total cost of care is the #1 concern and area of focus for healthcare providers. Many hospitals today have set annual cost reduction targets of over $100 million. Unfortunately, after 50 years of focusing primarily on driving volume and generating revenue, most hospitals lack the skills and staff for the transition. Results from a recent Strata survey of 100 hospitals show that while nine of 10 have a cost reduction target, seven of 10 felt their efforts were falling flat. Strata developed a cloud-based analytics and workflow solution that identifies savings opportunities related to utilization variation, staffing and pay practices and quality variation. The solution includes workflow logic to facilitate the selection and management of cost reduction projects as well as the ongoing tracking and measurement of project results.

"This award underscores the unique and innovative platform that Strata has created to support healthcare delivery systems as they transition from volume to value," said Dan Michelson, Chief Executive Officer of Strata Decision Technology. "Providers are struggling to maintain their margins now more than ever. StrataJazz is the only solution that provides accurate, accessible and actionable cost data as well as automated cost management. The focus on cost is not a passing trend, it is now a required core competency for all healthcare organizations. We're thrilled that we are being recognized for our innovative solution that helps healthcare providers drive margin to fuel their clinical mission."

Strata solutions are used by 1,000 hospitals and 185 healthcare delivery systems across the U.S. In addition to receiving the Healthcare Informatics Leading Edge Award, Strata has also been named the Category Leader for Decision Support by KLAS Enterprises for two consecutive years, recognized on the Inc. 5000 list of America's Fastest Growing Companies three years in a row, won the 13th Annual Chicago Innovation Award and was named to the Becker's List of Great Places to Work in Healthcare multiple times.

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 headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.

About Healthcare Informatics

Healthcare Informatics serves as the leading source of information for forward-thinking professionals involved in the planning, development, and implementation of important technological trends that define tomorrow's healthcare. Pioneering concepts are presented and exchanged as important strategic and information technology issues facing organizations such as hospitals, medical groups, and integrated health systems are addressed. Members of the Healthcare Informatics community share a focus on healthcare IT leadership, vision, and strategy -- driving change forward by shaping innovations that point the way to the future of healthcare. 

Contact Information