GREENWICH, Conn. and FORT MYERS, Fla., June 9, 2020 /PRNewswire/ -- Lee Health and Cedar Gate Technologies (Cedar Gate) today announced Cedar Gate is providing performance analytics and actuarial services for Lee Health's Bundled Payments for Care Improvement Advanced (BPCI Advanced) Model as an extension of the two organizations' existing partnership.
As a leading value-based health system in Florida, Lee Health chose to participate in BPCI Advanced last January to complement its population health strategy. BPCI Advanced is the Centers for Medicare & Medicaid Services (CMS) program to support healthcare providers who invest in practice innovation and care redesign to better coordinate care and reduce expenditures.
With the BCPI Advanced consulting services, Cedar Gate provided an analysis of all 32 BPCI Advanced clinical episodes, through data visualization and guided analytics, that enabled Lee Health to understand current and projected performance. This valuable insight will ensure Lee Health maximizes its financial return and achieves quality measures that ultimately benefit Medicare beneficiaries under the program.
"BPCI Advanced is a great program for health systems looking to create bundled payment programs that accelerate their value-based care journey," said David B. Snow Jr., CEO of Cedar Gate Technologies. "Our deep bundles experience, spanning more than 30 years, and analytics capabilities are a natural fit for Lee Health's first BPCI Advanced experience. With our support, Lee Health can predict performance and make program adjustments along the way to outperform CMS' financial and quality measures."
With Cedar Gate's BPCI Advanced consulting services, Lee Health receives an interactive workbook so the health system can continually monitor performance across all BPCI Advanced episodes and evaluate participation in additional services lines. Cedar Gate's actuarial team also provides insight, through quarterly CMS data reports, that allows Lee Health to forecast results and estimate settlement amounts for the remainder of 2020.
The new consulting agreement is an addition to the two organizations' three-year contract to bolster Lee Health's system-wide value-based care initiatives with analytics delivered through Cedar Gate's ISAAC™ analytics platform.
"Across our health system, we have committed to moving into the next era of healthcare that is focused on reducing costs and improving care," said Robert Millette, ACO network development and managing partner for Lee Health. "By working with Cedar Gate to help select and monitor our BPCI Advanced performance, we're setting our organization up for success so we can continue to better serve patients across our communities."
Cedar Gate systems help clients optimize the performance of all risk-based contracts, including upside only, upside downside, risk corridors, prospective bundles, retrospective bundles and global capitation. Using ISAAC, a cloud-based SaaS platform, Cedar Gate enables payers, providers and self-insured employers to optimize risk-based contracts, reduce medical spend, improve medical loss ratios and improve provider network and clinical performance – all on a single platform.
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 analytic, technological and advisory services to providers, payers and self-insured employers to enable them to meet and exceed the performance thresholds of value-based care contracts, networks and programs.
Cedar Gate systems are helping clients realize value from over $91 billion of medical spend associated with risk-based contracts and programs that affect 3.2 million covered lives. Cedar Gate is the leading provider of prospective bundled payment solutions with 20+ years of experience and having processed more than 2.25 million distinct bundles.
To learn more, go to cedargate.com.
About Lee Health
Since the opening of the first hospital in 1916, Lee Health has been a healthcare leader in Southwest Florida, constantly evolving to meet the needs of the community. A non-profit, integrated healthcare services organization, Lee Health is committed to the well-being of every individual served, focused on healthy living and maintaining good health. Staffed by caring people, inspiring health, services are conveniently located throughout the community in four acute care hospitals, two specialty hospitals, outpatient centers, walk-in medical centers, primary care and specialty physician practices and other services across the continuum of care. Learn more at www.LeeHealth.org.
Contact: Julie Callahan
SOURCE Cedar Gate Technologies