Monocle Health Data was founded by Michael Cadger, a health care finance expert with 40 years of experience in the health system, payer and employer segments of the healthcare system. As a hospital and insurer CFO and CEO, Health Care Benefits National Practice Leader – Managed Care at A. Foster Higgins (acquired by Mercer) and PwC Health Care Benefits Consulting Partner, Mike recognized early in his career that medical cost, price and quality information was much needed by consumers to make better choices and by providers to promote competition.
Mike's been an industry innovator throughout his career. Upon creating the first US Centers of Excellence (CoE) network in 1988 for Delta Air Lines he replicated this work for large self-funded health plan sponsors such as Boeing, KBR/Halliburton, Coca-Cola, CalPers, Levi Strauss, and others. He then “repurposed” his Centers of Excellence model to health systems such as Johns Hopkins, Baylor, Emory, Cedars-Sinai, Presbyterian and Methodist to help them differentiate their CoEs on quality and bundled payments.
However, those CoEs were limited to episodic procedures (which generated large savings for high cost procedures but affected only about 15% to 25% of total spending) so Cadger embarked on a mission to expand the CoE model to chronic illnesses (which represent two-thirds to three-fourths of all health care costs). He also wanted to scale the CoE model to make it dynamic, affordable and attractive to multiple target markets and customers of all sizes.
With the advent of better data collection and powerful search engines, Mike found a team of experts to help his vision of true Cost/Price and Quality Transparency in the industry. Due to the myriad of disparate data sources used in treating chronic illnesses and the cost of data collection/storage/analytics, this challenge became a beast. However, this never had been accomplished before and would dwarf other price transparency solutions which only provide prices of tests, office visits, etc and whose quality rankings are little more than opinion polls (a la “Angie’s List”) and provider advertising platforms versus rigorous analysis of cost and quality from independent, objective, credible sources.
Founder and CEO of Monocle Health Data, Mike's executive leadership includes roles as a PwC Partner as well as CEO/CFO of insurers and health systems. Currently, Mike is also Chief Medical Analytics and Referral Optimization Adviser to VBurchett Consulting.
Throughout his career, he's been a healthcare innovator including developing the first hospital rate placement/product line profitability software, the first Centers of Excellence networks, the first custom PPO networks for large employers, the first Accountable Health Plan and now the first comprehensive, truly independent healthcare price and quality transparency solution for use in referral optimization.
He served many Fortune 500 companies and is a noted leader in developing innovative products that ultimately become industry-leading standards. Mike holds a BS with Honors in Finance from the University of Tennessee and an MBA in Health Care Management from The Wharton School, University of Pennsylvania.
Mike served as Vice-Chair of the Grady Health Foundation and on the Finance and Development Committees during the recent turnaround of the Henry W. Grady Health System. He is also active in healthcare IT work force economic development initiatives for the state of Georgia and is the Chair of the Healthcare IT Public Policy Subcommittee at the Metro Atlanta Chamber.
Bill Hennessey, MD, is the CEO and Founder of Pratter, a medical cost savings and transparency company. Dr. Hennessey is both an MD and a serial entrepreneur, a practicing physician for 25 years, founder of a medical billing company and the son of a C suite hospital executive.
Bill's passion is to fight for everyone to have affordable access to medical care. Dr. Hennessey has been front line in the trenches to bring this one-of-a-kind reality. Pratter aspires to help millions save billions on medical care and create affordable access to care for all working Americans.
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