Strata Decision Technology (Strata), 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 Rady Children’s Hospital-San Diego (Rady Children’s) has selected Strata and will deploy StrataJazz® for decision support, cost accounting, contract analytics and continuous improvement.
Rady Children’s team of 6,000 employees and physicians provide care to over 90% of the region’s children. For the last five consecutive years, they have ranked in all 10 specialties surveyed by U.S. News & World Report for “Best Children’s Hospital” and earned Hospital and Health Network’s “Most Wired” award, among many other industry accolades.
Rady Children’s will integrate its existing enterprise systems, including their Electronic Health Record (EHR) from Epic Systems Corporation with StrataJazz, and join Strata’s ever-growing list of children’s hospital clients including Boston Children’s Hospital, Children’s Healthcare of Atlanta, Children’s Hospital and Medical Center, Children’s Hospital and Clinics of Minnesota, Cook Children’s Health Care System, and Texas Scottish Rite Hospital.
“Having better access to more accurate cost and margin data was a key driver for our strategic partnership with Strata,” said Kathleen Cain, Senior Vice President and Chief Financial Officer, Rady Children’s. “Their proven work in integrating with Epic will allow us to better understand and communicate to our physicians about the variation in clinical care delivery processes and the impact on cost. This improved understanding of cost and clinical practice variation will support our organizations strategic initiatives of care redesign and population health which will provide greater value for the families we serve.”
“While tools for cost and value management are mission critical for providers, they require a new mindset, skillset and toolset,” said Dan Michelson, Chief Executive Officer of Strata. “Rady Children’s understands that in order to deliver value-based care, they need cost data that is accurate, accessible and actionable. We’re thrilled to have the opportunity to work with them in support of their mission.”
For the second consecutive year, StataJazz was named #1 in KLAS for Decision Support – Business, the ‘Consumer Reports’ for healthcare IT. The Decision Support (cost accounting and payor contract modeling) and Continuous Improvement modules provide healthcare providers an understanding of the cost and margins for delivering care across episodes of care, service lines and patient populations. It also provides the ability to identify opportunities to reduce variation, waste, inefficiency, and ultimately improve care on a continuous basis.
About Rady Children’s Hospital-San Diego
Rady Children’s Hospital-San Diego is a 520-bed pediatric care facility providing the largest source of comprehensive pediatric medical services in San Diego, Southern Riverside and Imperial counties. Rady Children’s is the only hospital in the San Diego area dedicated exclusively to pediatric healthcare and is the region’s only designated pediatric trauma center. In June 2015, U.S. News & World Report ranked Rady Children’s among the best children’s hospitals in the nation in all ten pediatric specialties the magazine surveyed. Rady Children’s is a nonprofit organization that relies on donations to support its mission. For more information, visit www.rchsd.org.
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.
