Monday, November 23, 2015

Mission Health recognized for outstanding performance

2015 LEAP Award Recipient

Recognized for outstanding performance in the areas of finance and strategy to benefit the community it serves, Mission Health is awarded the 2015 LEAP (Lead, Excel, Achieve, Progress) Award by Strata Decision Technology (Strata Decision), a leading provider of cloud-based performance analytics for financial planning, decision support and continuous cost improvement. 

“Mission Health’s focus is, has been and will be to ensure that high quality, convenient, accessible and affordable care is available to everyone,” said Larry Hill, Vice President of Finance, Mission Member Hospitals. “By effectively managing resources with which we are entrusted, we help ensure our ability to meet the region’s health needs for decades to come, and by partnering with Strata Decision’s forecasting, budgeting and financial analytic tools, we were able to address increasing healthcare costs by identifying more than $60 million dollars in reduced operating costs and improved process efficiencies over the last fiscal year and extending into the current fiscal year.

With the implementation of Strata Decision’s Stratajazz®, Mission Health now has its cost accounting, operating budgeting, capital management, long-range financial planning, rolling forecasting and management reporting workflow and data all within a single database platform that directly integrates with existing systems, including the electronic medical record (EMR). This helps Mission Health understand the trends of patient volumes, average patient length of stay in the hospital, frequent causes of readmissions to the hospital, as well as costs to care for frequent health conditions in western North Carolina such as diabetes, heart failure and ischemic stroke. Mission Health is able to use this data to effect change with direct impact to patient care.

Some of these efficiencies translate directly to patient care or savings, such as productivity and length of stay improvements, insurance savings and health system integration efficiencies.

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