CHICAGO, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial planning, analytics and performance tools for healthcare, today announced that the company has once again ranked Best in KLAS, as part of the 2023 Best in KLAS: Software and Services report from KLAS Research.
With a customer satisfaction score of 92.3 out of 100, Strata has been named the market leader for Business Decision Support for the 17th consecutive year – the longest running streak in KLAS history. In a category new to Best in KLAS, Strata has also been named the market leader for Financial Planning & Analysis, with a customer satisfaction score of 87.6 out of 100.
“The 2023 Best in KLAS report highlights the top-performing healthcare IT solutions as determined by extensive evaluations and conversations with thousands of healthcare providers,” said Adam Gale, KLAS CEO. “These distinguished winners have demonstrated exceptional dedication to improving and innovating the industry, and their efforts are recognized through their inclusion in this report. Congratulations to all the winning vendors for setting the bar for excellence in healthcare IT! KLAS continues to be committed to creating transparency and helping providers make informed decisions through our accurate, honest, and impartial reporting.”
The annual Best in KLAS ratings are based on feedback from tens of thousands of interviews with healthcare providers conducted throughout the year evaluating their level of satisfaction with over 1,000 healthcare information technology applications. The company’s long streak ranked as Best in KLAS, and its designation in a brand new category this year, reflects over 25 years of work providing planning solutions and services to hospitals and health system customers.
“We are honored for our solutions to rank #1 in Business Decision Support for the 17th consecutive year, and to receive Best in KLAS in the emerging category of Financial Planning & Analysis. As we celebrate these incredible accomplishments, we are so grateful to our network of 2,000 hospital and 400 health system partners who implement and trust our technology to help them better care for their communities through improved financial planning and performance,” said John Martino, Chief Executive Officer of Strata. “Receiving the Best in KLAS distinction for Financial Planning for the first time, especially during such a challenging and uncertain era involving labor shortages and speculations of a recession, is a major achievement for our entire team, and we look forward to continuing the work we do with our customers to provide the best financial support in the years ahead.”
Strata is a cloud-based platform that helps healthcare providers better plan, analyze and perform, driving margin to fuel their clinical mission. With a customer base representing over 400 health systems and more than 2,000 hospitals, Strata helps hospitals and health systems separate the signal from the noise, providing unique insight to enable data-driven decisions that improve both clinical and financial performance.
Customer Commentary
In determining its rankings, KLAS collects quantitative and qualitative feedback from healthcare providers regarding the applications that they use. The following are a few of the comments from Strata customers, reported by KLAS:
StrataJazz® Decision Support
- Implementation and Training: “The vendor provided the best implementation service that we have ever experienced. It was exceptional. The vendor's service was timely and robust, and the vendor taught us a lot. There wasn't a single question that we could ask that wasn't already documented very clearly. The vendor has a wealth of training information for the system.” Director, December 2022
- Reporting and Functionality: “Users really like being able to drill down on data in real time. It is easy for users to put reports together in StrataJazz Decision Support. Putting together reports is even easy for folks who aren't deep-diving users or IT geeks that spend a lot of time in reporting. The system is robust, and we have a lot of data feeds, so the number of fields we can query is huge. The tool is very helpful, especially for research activities. The biggest advantage for me personally is being able to see where we have opportunities for performance improvement by payer or within service lines or divisions. There are a lot of ways to cut the data. We could do that in our previous system, but we had to download everything to Excel and cut the data manually.” CFO, April 2022
- Data Access and Adoption: “The solution is an extremely easy-to-use tool. It makes it simple for us to prove the accuracy of our data. With the solution's data, we can enroll providers, clinicians, and service leaders. We are able to leverage the results of our information to drive outcomes in a way that we haven't been able to with other systems.” Director, December 2022
- Tool Usability: “The cost module is really streamlined. It is very easy to use in reporting, and we use it heavily. When I compare it to another tool, that tool doesn’t let me do half the things I am used to doing in StrataJazz Decision Support. The other tool is frustrating because I can't report the same way. Strata Decision Technology's reporting tools are very robust.” Manager, December 2022
StrataJazz® Financial Planning
- Automated, Integrated Platform: “With the system, we don't have to do upgrades. Every time we log in, the vendor gives us a snapshot of all the changes. We are not on a certain version; we are always on the latest and greatest. We are very happy with the financial-planning piece. The system is a dynamic tool that allows us to adopt a budgeting or planning process that meets the needs of our organization. The system changed our ability to understand where we make money and where we lose money, so the system was a game changer for us. Before we implemented the cost accounting system and all the integrated pieces, we didn't understand how much it would cost to do a certain procedure, but now, we do.” VP/Other Executive, May 2022
- Agile Planning: “StrataJazz Financial Planning allows us to be a lot more agile. It allows us to model a lot of different scenarios. We are also able to pivot pretty quickly and calculate the impact of certain things that we are going to target or try to do throughout the year. With regard to management reporting, the system allows us to constantly interact with department managers. Every month we are able to push out scorecards for metrics to all our department managers via email. That process is all automated and super easy. Department managers are then able to review their financials, and we actually ask that the managers provide commentary. Everything feeds into our planning. We are able to see the biggest variances at the department level and the course corrections the departments are trying to make, and then we are able to apply that information, if applicable, to our rolling forecast. With StrataJazz Financial Planning, we can adjust quickly to whatever we may need.” Manager, July 2022
- Relationship & Support: “Strata Decision Technology is constantly reaching out to us and checking on how we are doing. They host user groups where their customers are provided an opportunity to share their best practices, what they are doing, and how they are using the tools. We get written communications from them, and they share articles and other communications with us. If we have an issue or we are uncertain about something, we reach out to the vendor, and we get very quick responses. I have never had an occasion where I have had to run anything up the chain. The vendor schedules executive touchpoints with our leadership to talk through issues and see how things are going. The quality of support given is a strong suit of the vendor.” Director, August 2022
The full 2023 Best in KLAS: Software and Services report is available at www.klasresearch.com.
To learn more about or set up a demonstration of Strata solutions, click here.
About KLAS
KLAS is a data-driven company on a mission to improve the world's healthcare by enabling provider and payer voices to be heard and counted. Working with thousands of healthcare professionals, KLAS collects insights on software, services, and medical equipment to deliver reports, trending data, and statistical overviews. KLAS data is accurate, honest, and impartial. The research directly reflects the voice of healthcare professionals and acts as a catalyst for improving vendor performance. To learn more about KLAS, visit KLASresearch.com.
About Strata Decision Technology
Strata Decision Technology provides a cloud-based platform for software and service solutions to help healthcare providers better analyze, plan, and perform in support of caring for their community and reducing the cost of care. Our customer base includes over 2,000 hospitals and over 400 healthcare delivery systems. Founded in 1996, our mission is to Help Heal HealthcareTM. For more information, please go to www.stratadecision.com.
Contacts
Hannah Fier
strata@matternow.com
