Founded in 2012, Citra Health Solutions provides its customers with people-driven, comprehensive, tech-powered applications that aggregate data across several sources with the aims of reducing cost of care and strategically expanding market opportunity. Citra uses financial and clinical data to profile healthcare services, and recently the small company was acquired by private equity firm GTCR and Cedar Gate Technology.
Citra’s specialty software solutions will enable Cedar Gate to expand its technology platform and build up its healthcare tech, giving the industry the push it needs to shift from fee-for-service products to a value-based reimbursement system. The healthcare payment landscape has been evolving over the last several years thanks to novel software tools and SaaS analytics suites in which providers and payers can more easily evaluate service cost and quality of care.
Cedar Gate’s bundled payment system will work well with Citra’s EZ-Suite, which helps administer capitated contracts, a type of value-based reimbursement in which providers absorb the financial risk for designated patient populations. The two organizations combined will offer a seamless value-based reimbursement solution that will improve patient care outcomes.
Cedar Gate Technology’s Chief Executive Officer David Snow says that "The addition of Citra couldn't come at a better time," and adds that "Now, more than ever, health systems are looking for ways to transition away from fee-for-service as value-based care becomes the new standard. Through Citra's long-standing capitation capabilities, we now provide our clients with the ability to design, administer and optimize all risk-based arrangements."
GTCR looks forward to building a technology platform that will help the healthcare industry complete its transition to value-based care with their new end-to-end software solutions. The Chicago-based equity firm has focused on investing in healthcare growth companies since 1980. They routinely partner with industry leaders to acquire and cultivate market-leading organizations. To date, they have helped over 200 companies grow, and have invested more than $18 billion across the healthcare, technology, fintech, and media and telecommunications fields. Cedar Gate programs affect approximately 3.2 million people, covers more than $91 billion of medical spending.