David B. Snow Jr., chairman and CEO of Cedar Gate Technologies, has spent his career aiming to fix what he sees as a broken healthcare system.
Snow, a veteran healthcare executive, has long been an advocate for value-based healthcare, which focuses on proactive care and keeping patients healthy rather than the traditional volume-based model. In 2014, as the healthcare industry started shifting towards a value-based approach, Snow launched Cedar Gate Technologies. The Connecticut-based software platform provides healthcare analytics, care management, and payment technology. Unlike other companies at the time that offered point solutions to address different aspects of care, Cedar Gate sought to provide an all-in-one solution for payers, providers, and self-funded employers pursuing value-based care.
“I wanted to build an end-to-end platform that did it all, with an underlying data management system built over a single source of truth,” Snow said.
Cedar Gate found itself early in the value-based care market. As the federal government, commercial payers and self-insured employers sought more affordable health care solutions, the company’s services saw an increase in demand. Today, Cedar Gate has more than 1,000 employees and anticipates $124 million in revenue in 2024.
Cedar Gate’s platform uses data analysis to improve patient care and overall performance. By analyzing surgical outcomes, for example, hospitals can identify underperforming doctors with avoidable complications or high readmission rates. The data also highlights opportunities to improve care quality and reduce costs. Clients can use the platform to forecast performance and develop successful alternative payment models, such as prospective bundles and capitation. These models show promise in reducing the total cost of care without reducing quality. Snow said, “We are the great enabler for those who want to succeed at value-based care.”
Looking ahead, Cedar Gate intends to use generative AI to find patterns within the vast amount of data in its database. The company has impressively accurate AI models that can predict which patients will be diagnosed with four chronic diseases within a year.
Snow said, “There’s so much more you can do to avoid the acute onset of disease. You can avoid diagnosis for some of the costliest chronic conditions patients manage today, with the potential to save billions in health care costs.”
Cedar Gate aims to change the healthcare system. As some healthcare providers remain reluctant to embrace the shift to value-based care, Cedar Gate is at the forefront of driving that change.
