CHICAGO--(BUSINESS WIRE)--Huron Consulting Group (Huron), a premier provider of business consulting services, and Strata Decision Technology (Strata), a leading provider of cloud-based financial analytics and performance tools for healthcare, today announced a partnership to create a unique solution to advance healthcare providers’ transition to value-based care and address the underlying challenges of accurately managing revenue, cost and margin. Huron and Strata have developed the first software and service offering to achieve Value Performance Management (VPM) and assist providers with that transition.
“Value Performance Management in the future will be what Revenue Cycle Management has been in the past, a core competency for every healthcare system,” said Dan Michelson, chief executive officer, Strata. “Most providers have the mindset relative to delivering value, but lack both the toolset and the skillset required to take action. This combined solution addresses many of the roadblocks that healthcare providers face as they transition to this new business model. This unique software and service solution from two of the industry’s most experienced and respected companies will provide a trusted solution to help healthcare providers prepare for value-based contracts and drive clinical and financial performance.”
The multi-year offering combines the strength of Strata’s cloud-based technology platform, rated #1 in KLAS and used by more than 1,000 hospitals and 185 healthcare delivery systems, with the proven expertise and experience of Huron’s more than 1,000 consultants in driving performance, to develop data-driven solutions across the continuum of care. Together, Huron and Strata will redefine how providers can optimally manage value and performance across the enterprise.
“Delivering high quality care while actively managing cost and margin is paramount for healthcare organizations,” said Gordon Mountford, executive vice president, Huron Healthcare. “Our experience in leading major change in markets, including revenue cycle management, will help healthcare providers transition to this new value-based business model. We are excited to combine our cost and clinical performance improvement expertise with Strata’s proven platform for cost accounting, cost management and continuous improvement to deliver a new technology-enabled solution that will assist hospitals and health systems through an incredibly complex transformation while driving performance on a sustained basis.”
From a healthcare provider’s perspective, this software and service solution will provide the resources, expertise, automation and accountability to drive both clinical and financial performance. To find out more, please contact either Strata at vpm@stratadecision.com or Huron at vpm@huronconsultinggroup.com.
About Strata Decision Technology
Strata Decision Technology provides an innovative, cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support, and continuous improvement. Founded in 1996, the Company's customer base includes 1,000 hospitals and many of the largest and most influential healthcare delivery systems in the U.S. Strata has been ranked #1 as the KLAS Category Leader for Decision Support-Business for the past two years. The Company's headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.
About Huron Healthcare
Huron Healthcare is the premier provider of performance improvement and clinical transformation solutions for hospitals and health systems. In 2015, Huron acquired Studer Group, the market leader in driving healthcare cultural transformation. The combination of Huron and Studer Group is focused on improving healthcare providers’ clinical, operational, and financial outcomes. By partnering with clients, Huron delivers solutions that improve quality, increase revenue, reduce expenses, and enhance physician, patient, and employee satisfaction across the healthcare enterprise. Clients include leading national and regional integrated healthcare systems, academic medical centers, community hospitals, and physician practices. Modern Healthcare ranked Huron Healthcare fourth on its 2015 list of the largest healthcare management consulting firms. Learn more at www.huronconsultinggroup.com/healthcare or follow us on Twitter: @Huron.
About Huron Consulting Group
Huron is a global professional services firm focused on assisting clients with their most complex business issues by delivering high-value, quality solutions to support their long-term strategic objectives. Huron specializes in serving clients in the healthcare, higher education, life sciences, and commercial sectors as these organizations face significant transformational change and regulatory or economic pressures in dynamic market environments. With its deep industry and technical expertise, Huron provides advisory, consulting, technology, and analytic solutions to deliver sustainable and measurable results. Learn more at www.huronconsultinggroup.com.
