Stratum, incorporated in 1996, is a collaborative alliance originally formed by nine highly successful Midwestern medical groups. Stratum has selectively added Shareholders to expand strategically and now consists of sixteen owners, all of which are independent or hospital-owned, multi-specialty group practices located in Illinois, Indiana, Iowa, Kansas, North Carolina, Minnesota, Missouri and Wisconsin. Further, Stratum has expanded nationally and has client relationships with roughly 100 additional healthcare organizations across the country. Collectively, Stratum represents approximately 11,000 physicians today.
Stratum is an Illinois corporation with 1 million shares of common stock outstanding. This stock is held by the Shareholders highlighted in the Shareholders section of this site. Each Shareholder enters into a Service Agreement with Stratum to buy services. These services are provided via Stratum’s distinct product lines:
- Group Purchasing
- Insurance Products
- Executive Recruitment Services
- Locums Coordination Services
- Business Solutions
- Consortium Management
- Stratum ACO
- Clinical Trials Network
- Networking & Benchmarking
Stratum Shareholders share the following philosophies and ideals which creates the driving force behind Stratum’s business model:
- Leverage, whenever possible, Stratum’s collective buying power when negotiating with vendors or service providers
- Avoid “re-inventing the wheel” each time a common project or initiative surfaces when a Stratum product, endorsed by all Shareholders, can be rolled out
- Driven by best practice standards, standardize processes where possible and migrate toward common systems
- Create a “second to none” peer group where issues can be shared and discussed
- Share the talents and capitalize on the wealth of intellectual capital that exists among Shareholders