University of Virginia Health System Selects Strata Decision For Cost Accounting

CHICAGO, Oct. 8, 2014 /PRNewswire/ -- Strata Decision Technology (Strata Decision), a pioneer and leader in the development of innovative software tools for financial analytics, business intelligence and decision support in the U.S. healthcare market, announced today that University of Virginia Health System (UVA Health System) has selected StrataJazz® for decision support and cost accounting. 

UVA Health System is known as one of the world's top academic medical centers. UVA Health also includes a level one trauma center, nationally recognized cancer and heart centers, and primary and specialty care locations throughout Central Virginia. Their staff has been recognized for excellence by publications like U.S. News & World Report, Best Doctors in America, and America's Top Doctors.

UVA Health System will add cost accounting to their current deployment of StrataJazz modules which the organization uses for financial planning and forecasting.  Adding cost accounting and decision support to the StrataJazz platform will enable UVA Health to bring clinical and financial data together to make more informed decisions that drive better value for their patients.

"The time has come in healthcare where understanding cost and making that data actionable is a requirement, not just for finance, but for clinical leaders.  Bringing together clinical and financial data for our providers will allow us to continue to enhance the value that we provide to the community we serve," said Rick Skinner, Chief Information Officer at UVA Health System.

UVA will integrate StrataJazz with their existing enterprise systems, including their Electronic Health Record (EHR) from EPIC Systems and their Enterprise Resource Planning (ERP) from Peoplesoft (Oracle).  

"In order to adjust to the changing dynamics in healthcare delivery and reimbursement, the top systems are moving quickly to both understand cost and more effectively manage it. UVA Health System has built a reputation for delivering world-class care and our work together moving forward will ensure that they have cost data that is accurate and actionable to build upon that track record while adjusting to new market requirements," stated Dan Michelson, Chief Executive Officer of Strata Decision. "Our team is thrilled to have the opportunity to expand our partnership and extend our overall relationship for five more years."

StrataJazz provides a single database cloud-based 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 University of Virginia Health System

UVA Health System is an academic health system that includes a 612-bed hospital, the UVA School of Medicine, a level I trauma center, nationally recognized cancer and heart centers and primary and specialty clinics throughout Central Virginia. UVA is recognized for excellence by U.S. News & World Report, Best Doctors in America and America's Top Doctors.

About Strata Decision Technology

Strata Decision Technology is a pioneer and leader in the development of innovative SaaS (Software as a Service) solutions for financial and business analytics and decision support in healthcare. Founded in 1996, the Company's solutions are used by over 1,000 healthcare organizations, including major academic medical centers, community hospitals, children's hospitals and many of the largest and most influential healthcare systems in the U.S.

The Company provides a single integrated software platform for budgeting, decision support, financial forecasting, strategic planning, capital purchase planning and tracking, management reporting, and performance management. The solutions are enhanced by a full range of services, including software implementation, data integration, application hosting, and technical support. 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]

SOURCE Strata Decision Technology