GREENWICH, Conn., Feb. 14, 2017 /PRNewswire/ -- Cedar Gate Technologies, a value-based care performance analytics company, today announced that its' ISAAC™ prescriptive analytic platform was 99.4% accurate in predicting the results of the Franciscan Health Alliances' shared savings contracts.
"The ISAAC™ platform is highly accurate and predictive," says Dr. Al Tomchaney, Chief Medical Officer of the Franciscan Health Alliance. "It provides us with the modeling, forecasting and monitoring accuracy needed to maximize the value of our risk-based contracts. ISAAC™ has proven to be a better prediction tool than other services we've used, and is now what we rely upon for all our actuarial needs."
"You can't manage what you can't accurately measure and predict," says David Snow, CEO of Cedar Gate Technologies. "Healthcare entities must be able to track and predict the results of risk-based contracts within their performance year. But too many entities lack this capability, and are flying blind. They don't know how they're performing until the performance year is over, and by then it's too late."
The ISAAC™ platform is specifically built for risk and value-based contract management. It uniquely combines actuarial science, contract pricing and utilization data for accurate in-year financial projections. It identifies cost and quality of care improvements at the enterprise level, and is a perfect complement to population health management.
Gartner listed ISAAC™ as one of the new, value-based care performance analytic platforms in its' 2016 Hype Cycle for Healthcare Providers Report.
About Cedar Gate Technologies
Cedar Gate Technologies ("Cedar Gate") is an innovative, advanced analytics computing company founded in 2014 by David B. Snow, a nationally recognized Fortune 50 CEO, in partnership with GTCR, a Chicago based private equity firm.
Cedar Gate's powerful prescriptive analytics platform enables providers, payers, and self-insured employers to succeed at managing risk-based contracts, improving the quality of care and reducing medical loss ratios (MLR's).
Franciscan Alliance is one of the largest Catholic healthcare systems in the Midwest, which includes 14 hospitals, a number of nationally recognized Centers of Health Care Excellence and over 500 points of care in Indiana, Illinois, and Michigan. Franciscan Alliance employs nearly 20,000 health care professionals to provide quality, compassionate care to 3.7 million people. Founded in 1875 by the Sisters of St. Francis of Perpetual Adoration, Franciscan Alliance is devoted to providing care that reflects the values of respect for life, fidelity to mission, compassionate concern, joyful service and Christian stewardship. Hospitals include: Franciscan Health Crown Point, Franciscan Health Michigan City, Franciscan Health Dyer, Franciscan Health Hammond, Franciscan Health Munster, Franciscan Health Crawfordsville, Franciscan Health Lafayette Central, Franciscan Health Lafayette East, Franciscan Health Rensselaer, Franciscan Health Carmel, Franciscan Health Mooresville and Franciscan Health Indianapolis in Indiana; Franciscan Health Chicago Heights and Franciscan Health Olympia Fields in Illinois.