Children's Hospitals And Clinics Of Minnesota Selects StrataJazz For Decision Support
Top Children's Health System to Leverage Advanced Cost Accounting to Drive Financial Performance, Better Manage Costs, and Improve Value
CHICAGO, Dec. 3, 2014 /PRNewswire/ -- 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 Children's Hospitals and Clinics of Minnesota (Children's) has selected StrataJazz™ for decision support and cost accounting.
Children's of Minnesota is one of the largest pediatric health systems in the U.S. with two free-standing hospitals, 12 primary and specialty-care clinics and six rehabilitation sites. Children's is regularly ranked by U.S. News & World Report as a top children's hospital and by The Leapfrog Group for quality and efficiency.
Children's is part of Strata Decision's growing list of Minnesota-based clients that includes the Park Nicollet Health Services, Fairview Health Services, Allina Health System, CentraCare, Essentia Health, and St. Luke's. Children's is also a new addition to the company's growing list of children's hospital clients that now includes Boston Children's Hospital, Children's Healthcare of Atlanta, Children's Hospital of Philadelphia, Akron Children's Hospital, and Cook Children's Health Care System.
"Having better access to more accurate data about cost and margin will help support our organizational initiatives for both population management and care transformation," said Alec Mahmood, Chief Financial Officer at Children's. "We selected Strata Decision because of their strong track record with children's hospitals across the country and other health systems in our state. Additionally, their focus and expertise in supporting ongoing efforts to manage costs will help us continue to invest in providing the highest level of care to the patients and families that we serve."
A major focus of this agreement is bringing clinical and financial data together to make more informed decisions that drive better value for their patients. StrataJazz Cost Accounting will integrate with Children's enterprise systems including Peoplesoft Enterprise Resource Planning (ERP) from Oracle and their Electronic Health Record (EHR) from Cerner Corporation. Children's will complete their implementation of StrataJazz in January 2015.
"Children's Hospitals and Clinics of Minnesota is another data point to confirm what we have been seeing in the marketplace—advanced decision support solutions have become mission critical to help understand and reduce costs across all settings of care with all patient populations," said Dan Michelson, Chief Executive Officer at Strata Decision. "The end result is further driving margin so that Children's can fuel their overall mission of serving their patients."
StrataJazz provides a single database 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 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.
Contact:
Lisa Chernikoff, Strata Decision Technology, (312)827-7635, [email protected]
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SOURCE Strata Decision Technology
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