Cedar Gate Technologies has acquired Global Healthcare Alliance, a prospective bundled payment technology company. No financial terms were disclosed. In August 2014, Cedar Gate was formed by GTCR and David Snow.
GREENWICH, Conn., Oct. 23, 2018 /PRNewswire/ — Cedar Gate Technologies today announced it has acquired Global Healthcare Alliance (GHA). The acquisition propels Cedar Gate to the leadership position in prospective bundled payment programs.
Established more than 20 years ago, GHA built a proprietary SaaS claims adjudication technology, Axia™, that automates the conversion of fee-for-service claims into a single, bundled claim, and facilitates and manages payments between payers and providers. It enables healthcare entities to successfully manage prospective bundled payment programs for multiple clinical specialties. It has processed over 2.25 million distinct bundles.
“Through acquiring GHA and its Axia platform, we’ve become the leading provider of prospective bundled payment programs and completed the build-out of our value-based care performance management platform,” said Cedar Gate Technologies CEO, David B. Snow, Jr. “We can now help clients design, contract, manage and administer any type of value-based care payment model, including prospective bundled payment programs.”
Payers, providers and self-insured employers use bundled payment programs to control and manage high cost, high frequency episodes of care such as cardiology, neurosurgery, orthopedics, and other clinical specialties. These programs facilitate the development of “Centers of Excellence” by setting a single bundled payment rate for an episode of care, which is then shared by the hospitals, physicians, laboratories and post-acute facilities that provide care. The single bundled rate aligns incentives among providers to coordinate care and lower the total cost of care.
“Currently most payers and providers are involved in retrospective bundled programs because they do not have the capabilities to administer prospective bundled programs,” said John W. Adams Jr., CEO of Global Healthcare Alliance. “The combination of Cedar Gate Technologies’ risk-based contract management expertise with our Axia bundled program administration platform provide clients with an unmatched ability to successfully move to prospective bundled payment programs for any clinical specialty.”
About Cedar Gate Technologies
Cedar Gate Technologies (CGT) is a value-based care performance management analytic company founded in 2014 by David B. Snow Jr., a nationally recognized Fortune 50 healthcare CEO, in partnership with GTCR, a market leading Chicago based private equity firm.
CGT provides advisory, administrative, and technology solutions to providers, payers and self-insured employers at risk for the healthcare dollar and transitioning from fee-for-service to value-based care. It is the only value-based performance platform with a workflow implementation capability, Playbook.
Through its acquisition of Global Healthcare Alliance (GHA), it can now provide clients with the analytic capability and systems they need to design, contract, and manage the performance of any type of value-based care alternative payment model, including prospective bundled payments.
CGT serves more than 1,000 healthcare providers and payers operating value-based care alternative payment programs and clinical “Centers of Excellence.”
Learn more at at cedargate.com.