Legacy Health Leverages Strata's Continuous Cost Improvement Solution
The health system also signed a five-year extension to continue leveraging StrataJazz for Decision Support, Budgeting, Capital, Long- Range Financial Planning, Rolling Forecasting, Productivity Reporting, and Management Reporting.
In a release, the non-profit health system based in
"In the same way that Epic provides us with a single clinical platform, we felt it was critical to have a single enterprise-wide financial platform to support and simplify financial planning, decision support and cost management. We need a program that enables us to better understand cost drivers and to take action," said
The groups reported that Legacy will complete its implementation of StrataJazz Continuous Cost Improvement in late 2015. Legacy has already made major advances in efficiency through its use of StrataJazz, including significant improvements to their cost accounting process. The full process now takes less than one hour to run now compared to five days in the past, over a 99 percent increase in efficiency. The health system also reduced the number of FTEs working on financial decision support from eight to five because of the massive improvement in efficiency of the application and its processes.
In addition, Legacy is the first health system to implement two- way integration between StrataJazz and Epic, pulling data from their Epic Electronic Health Record (EHR) into StrataJazz and also sending cost data from StrataJazz back into their
"We developed Continuous Cost Improvement for organizations like Legacy that are looking for better data to drive continuous improvement efforts from both a clinical and financial perspective," said
Legacy already leverages StrataJazz as a single unified platform for Decision Support, Budgeting, Capital, Long-Range Financial Planning, Rolling Forecasting, Productivity Reporting, and Management Reporting system-wide. StrataJazz integrates with Legacy's EHR from Epic and its
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