Cedar Gate Technologies: Driving Healthcare Transformation
Cedar Gate Technologies, a technology company, is committed to improving healthcare through its advanced data analytics platform. The company’s chairman and CEO, David B. Snow Jr., has dedicated his career to fixing inefficiencies within the healthcare system, particularly the fee-for-service model.
Snow, a veteran healthcare executive, recognized the need for a value-based care (VBC) approach early on, advocating for proactive care that prioritizes patient well-being. Established in 2014 during the shift towards value-focused healthcare, Cedar Gate offers a comprehensive software platform incorporating healthcare analytics, care management, and payment technology, providing a unified solution.
“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 explained.
Cedar Gate’s early entry into the VBC space has positioned it well to capitalize on increasing demand from government entities, commercial payers, and self-insured employers. Now employing over 1,000 people, the company anticipates $124 million in revenue for 2024.
“We skated to where we thought the puck was going,” David laughs. “And now, the puck has arrived.”
The company’s platform analyzes diverse data points to enhance patient care and hospital performance. Through identifying outliers, such as doctors with higher complication rates, the platform enables hospitals to pinpoint areas for improvement. It also aids in forecasting performance and establishing viable business units for alternative payment models, such as prospective bundles and capitation, which have shown promise for reducing overall care expenses without compromising quality.
“We are the great enabler for those who want to succeed at value-based care,” Snow stated.
Looking ahead, Cedar Gate is integrating generative AI to analyze the vast datasets within its database. These sophisticated AI models accurately forecast the likelihood of patients being diagnosed with chronic diseases, opening possibilities for preventative care interventions.
“There’s so much more you can do to avoid the acute onset of disease,” Snow says. “You can avoid diagnosis for some of the costliest chronic conditions patients manage today, with the potential to save billions in health care costs.”
Despite some resistance to VBC, Cedar Gate is committed to driving change in the healthcare industry. As Snow puts it, “We’re change agents. We’re trying to make a difference.”
