Bethesda, Md. – Aledade, Inc. announced today that Foundry.ai founder and partner Jim Manzi has joined Aledade as a member of the company’s board of directors, and Ilona Cohen has been appointed as Senior Vice President and General Counsel following four years in the White House, which culminated in her serving as General Counsel of the Office of Management and Budget (OMB).
In just three years, Aledade’s Accountable Care network has grown to include 200 independent, physician-led practices across 15 states that together represent 240,000 covered lives and $2 billion in health care spending. The company’s patient population and influence over health care spending has doubled in the last year, and Aledade’s value-based primary care model now delivers care across all patient populations, including Medicare, Medicare Advantage, Medicaid, and commercial health plans.
“Jim and Ilona are two outstanding additions to the Aledade team,” said Aledade CEO Dr. Farzad Mostashari. “Jim brings unique experience in growing and scaling innovative companies. Ilona made her mark offering legal counsel on complex regulatory matters at the highest levels government which makes her especially well-suited to support Aledade’s work as our General Counsel.”
Manzi is a founder and partner of Foundry.ai, a technology studio focused on conceptualizing and building AI application software businesses. He was founder, CEO, and Chairman of Applied Predictive Technologies, which became the world’s largest purely cloud-based predictive analytics software company, and was sold to MasterCard in 2015. Manzi has also served as a senior fellow at the Manhattan Institute and as a contributing editor of National Review.
Previously, Manzi worked at AT&T Labs and as a corporate strategy consultant, and is also the author of several software patents, as well as the 2012 book Uncontrolled, which was widely reviewed including in the New York Times and Wall Street Journal. He received a bachelor’s degree in mathematics from MIT, and was subsequently awarded a Dean’s Fellowship in statistics to the doctoral program at the Wharton School at the University of Pennsylvania.
“Aledade was founded with the foresight that the shift to value-based care was rapidly accelerating,” said Jim Manzi. “This foresight has allowed Aledade to become a national leader in the new value-based and risk-sharing health care marketplace. I’m honored to lend my help to such an innovative company that is changing the way we think about the delivery of health care.”
At Aledade, Cohen will serve as Senior Vice President and General Counsel. In this role, she will oversee Aledade’s legal activities and policies. Cohen comes to Aledade after several years as a senior lawyer in the White House during the Obama Administration. As General Counsel of OMB, Cohen provided advice to President Obama and his senior advisors on legal and regulatory matters, policy development, litigation, and compliance.
Cohen was also the Administration’s leading technology lawyer, serving as chief counsel to the United States Digital Service and the Federal Chief Information Officer, and ensuring the Administration’s success in improving citizen-facing digital services, implementing the government’s first open source policy, and strengthening cybersecurity.
Prior to her White House service, Cohen served in senior legal roles at the Consumer Financial Protection Bureau and at the Senate Armed Services Committee and as an associate at the law firm WilmerHale. She earned her bachelor’s and law degrees from the University of Michigan.
“Aledade is on the forefront of health care technology, providing primary care physicians with innovative new tools to help deliver high quality care at a lower cost,” said Ilona Cohen. “I’m honored to join the team and to play a part in the continued success of the company.”
Aledade practices, in their first year as ACOs, increased pneumonia vaccinations by nearly five times, more than tripled preventive care visits, and more than doubled transitional care services for patients leaving a care facility. As a result, readmissions and unnecessary emergency department visits fell in both of Aledade’s inaugural ACOs, and practice revenue grew by an average of 66 percent. Today, all of Aledade’s partner practices offer same or next day appointments, and 95 percent provide access to an on-call physician 24 hours a day, 7 days a week.
This spring, Aledade raised an additional $20 million in funding from CVF, LLC, an affiliate of Henry Crown & Company, and The University of Texas Investment Management Company (UTIMCO) to close the company’s Series B1 Round. This funding follows the $20 million raised in January, including new investors Biomatics Capital, GV (formerly Google Ventures), and the Maryland Venture Fund. This brings Aledade’s total funding to $74.5 million.
To learn more about career opportunities at Aledade, visit aledade.com/about-us/careers.
Founded in 2014, Aledade offers a new model of primary care that puts physicians back where they should be: quarterbacking their patients’ health care. Aledade partners with primary care physicians to build and lead Accountable Care Organizations (ACOs) that allow these doctors to stay independent, practice medicine like they’ve always wanted to, and thrive financially by keeping people healthy. Aledade provides data analytics and user-friendly technology to help doctors provide more seamless care, unparalleled regulatory expertise, best practices developed with and shared by a national network of physicians, and face-to-face practice transformation support. Since its founding in 2014, Aledade has established successful ACOs in Arkansas, Delaware, Florida, Kansas, Louisiana, Maryland, Michigan, Mississippi, Missouri, New York, Pennsylvania, Tennessee, Utah, Virginia, and West Virginia, which care for more than 240,000 patients.
At the heart of the Aledade model is the simple, but radical, idea that Aledade only succeeds when partner practices succeed in delivering better care at a lower cost. For more information, visit aledade.com.
FOR IMMEDIATE RELEASE
June 19, 2017
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