Cedar Gate Technologies (Cedar Gate) has been named a recipient of the KLAS Payer/Provider Points of Light Award, in collaboration with a regional health plan, for its work in reducing hospitalizations and lowering the cost of care for cardiovascular patients through its partnership with CardioVascular Care Providers, Inc. (CVCP), a cardiac provider network in the state of Texas.
The Points of Light Award celebrates success stories—or points of light—from payers, providers and healthcare technology companies that work collaboratively to align care delivery with health plan sponsor initiatives to reduce inefficiencies and improve the patient experience.
“We are thrilled to be recognized for excellence in this collaboration with CardioVascular Care Providers and a regional health plan,” said Cedar Gate CEO David B. Snow, Jr. “Cedar Gate’s technology and services platforms are purpose-built to support bundled payments, demonstrating the power of data-driven decision-making in improving patient care and reducing costs for all stakeholders involved.”
Inpatient treatment for high-risk cardiovascular patients comes with a significant cost. Costs are lower and outcomes are better when the care for these patients is effectively managed outside the hospital. To achieve this, the collaborators combined payer and provider data to better predict costs and patient outcomes and then established a bundled payment contract that reduces the costs of patient care while ensuring care is in alignment with their condition.
Leveraging insights from advanced analytics, CVCP and the regional health plan were able to design a bundled payment program that prioritizes optimal treatments and locations of care. The partners applied a time-tested value-based care program that can be replicated and fine-tuned to meet the clinical, financial, and patient satisfaction goals of each partner over time.
Key actions undertaken in the collaboration:
- Collaborated on a bundled payment contract aimed at managing costs for the patient, health system, and payer while maintaining quality care
- Developed and implemented a technology stack specifically designed for value-based contracts and to analyze data from an actuarial standpoint
- Facilitated open communication and regular data sharing
- Implemented a claims system and educated claims managers and customer service personnel about value-based contracts
- Established a risk pool of savings to mitigate unforeseen patient costs and help maintain financial viability
Snow continued, “At Cedar Gate, we are committed to using innovative approaches to improve the quality of care and reduce healthcare costs through physician-led, value-based care delivery models. By providing payers and providers with the tools to identify and manage risk, we empower them to enhance the patient experience while driving down costs.”
For more information on Cedar Gate Technologies, visit the company’s website at www.cedargate.com.
About Cedar Gate Technologies:
Cedar Gate enables payers, providers, employers, and service administrators to excel at value-based care with a unified technology and services platform delivering analytics, population health, and payment technology on a single data management foundation. From primary care attribution, to bundled payments, to capitation, Cedar Gate is improving clinical, financial, and operational outcomes for every payment model in all lines of business.
About CVCP:
CardioVascular Care Providers, Inc. (CVCP), founded by world-renowned heart surgeon Dr. Denton A. Cooley, has been a pioneer in the provision of the highest quality cardiovascular professional medical services to cardiovascular patients for over 30 years. The CVCP network consists of 2,816 physicians including cardiologists, cardiovascular surgeons and other specialists who provide cardiovascular specific services to managed health care members.
About KLAS:
KLAS is a data-driven company on a mission to improve the world’s healthcare by enabling provider and payer voices to be heard and counted. Working with thousands of healthcare professionals, KLAS collects insights on software, services, and medical equipment to deliver reports, trending data, and statistical overviews. KLAS data is accurate, honest, and impartial. The research directly reflects the voice of healthcare professionals and acts as a catalyst for improving vendor performance. Learn more at KLASresearch.com.
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