UC Irvine Health Selects Strata Decision Technology's StrataJazza to Manage Costs
CHICAGO, IL: Strata Decision Technology, a developer of innovative SaaS solutions for financial and business analytics and decision support in healthcare has announced that UC Irvine Health, a research hospital that comprises the clinical, medical education and research enterprises of the University of California has selected its application, StrataJazza for decision support, cost accounting, contract analytics, budgeting, and management reporting.
StrataJazz is a single integrated software platform that includes modules for capital planning, contract modeling, cost accounting, cost management, decision support, financial forecasting and strategic planning. UC Irvine Health will add cost accounting to its current deployment of StrataJazz, which the organization uses for financial forecasting, including service line forecasting. Adding cost accounting and decision support to the StrataJazz platform will enable the health system to bring clinical and financial data together to make more informed decisions that drive better value for their patients. It also increases the accuracy, efficiency and effectiveness of critical financial planning and management processes.
"Like all health systems, understanding and managing our costs is a top strategic priority for UC Irvine Health. Getting a better grasp on our true costs and margins will allow us to continue to enhance the value that we provide to our community," says Chris Allen, Senior Director of Budget and Decision Support, UC Irvine Health. "UC Irvine Health chose Strata based on their ability to meet the needs of the Medical Center for all facets of financial planning, budgeting and decision support."
"UC Irvine Health has a reputation for delivering world-class care. Moving forward all health systems will be focused on value and having access to accurate and actionable cost data will be essential to ensure resources are used effectively," says Dan Michelson, Chief Executive Officer, Strata Decision. "Our team is thrilled to expand our partnership and provide the UC Irvine Health team with the most advanced cost accounting solution on the market today."