GREENWICH, Conn., May 14, 2019 /PRNewswire/ -- Cedar Gate Technologies (Cedar Gate), a leading provider of high-performance technologies for value-based care, celebrates 35 years administering the first cardiovascular prospective bundled payment program for CardioVascular Care Providers (CVCP).
"In 1984 world-renowned heart surgeon Dr. Denton A. Cooley founded CVCP and pioneered the development of the first prospective bundled payment program," said David B. Snow Jr., CEO of Cedar Gate. "At the same time, our proprietary automated claims bundling, payment distribution and risk pool management platform was developed to administer the program and has been doing so and evolving along with their needs ever since."
"Today, Cedar Gate provides payers, providers and employers with a full suite of operational and administrative capabilities to create, operate and optimize the performance of prospective bundled payment programs for cardiovascular disease, orthopedics, musculoskeletal, neurosurgery, women's health and other episodes of care," continued Mr. Snow. "Our system processes over $400 million in value-based claims annually and has processed over 2.25 million distinct prospective bundles."
Government and commercial payers, providers and employers are using bundled payment programs to create centers of excellence to better manage the cost and quality of care for high-frequency, high-cost episodes of care. They are expected to account for 17 percent of all value-based care contracts by the year 2021.
"Denton Cooley was ahead of his time when he formed CVCP and developed the first prospective bundled payment model 35 years ago," said David B. Snow, Jr. "It's rewarding to be part of his vision to bring payers, physicians and employers together to create a payment model that works for everyone."
About Cedar Gate Technologies
Cedar Gate Technologies (Cedar Gate) is a leading value-based care performance management company founded in 2014 by David B. Snow Jr., a nationally recognized Fortune 50 CEO, in partnership with GTCR, a leading Chicago based private equity firm. In 2018 Ascension Ventures, a strategic healthcare venture firm, became part of the ownership group.
Cedar Gate provides high-performance advisory, analytic and operating system solutions to help providers, payers and self-insured employers manage and exceed the performance thresholds of any value-based care contract and program. To date, Cedar Gate systems have identified $3.9 billion in additional value-based care opportunities of which over $925 million is in the process of being actioned.
Through its acquisition of Global Healthcare Alliance (GHA) in 2018, Cedar Gate became the leading provider of prospective bundled payment programs and now provides clients with a full suite of strategic and operational capabilities, including a proprietary claims processing and payment system that has processed more than 2.25 million distinct bundles
To learn more, go to cedargate.com.
About CardioVascular Care Providers
CardioVascular Care Providers, Inc. (CVCP) was founded by world-renowned heart surgeon Dr. Denton A. Cooley and is one the nation's first value-based care delivery organizations. CVCP has been a pioneer in the provision of high-quality cardiovascular professional medical services to patients for over 30 years.
CVCP is comprised of providers affiliated with the Texas Heart Institute at Baylor St. Luke's Medical Center, Houston Methodist Hospital and other facilities in their health systems. The CVCP network includes cardiologists, cardiovascular surgeons and other specialists in the Houston and Dallas Ft. Worth areas who provide cardiovascular specific services to patients under value-based arrangements.
Contact: Jack A. Smith
SOURCE Cedar Gate Technologies