Inside US Heart and Vascular: Cardiology’s Independent Integration Play and When Private Equity Works

Blake Madden
Blake Madden
July 14, 2026

Featuring: Emily Rash (COO) and Dr. Neil Gheewala (CMO of Value-Based Care), US Heart and Vascular

Is 3-6 weeks really how long patients should have to wait to see a cardiologist?

That’s the national average — and it’s the exact inefficiency Emily Rash (COO) and Dr. Neil Gheewala (CMO of Value-Based Care) at US Heart and Vascular are betting they can fix. Blake Madden sat down with them for a refreshingly candid conversation about what actually separates an integrated cardiology platform from a bunch of practices bolted onto a cap table.

In this episode:

  • The Ares + Rubicon Founders dual capital structure — arguably the sharpest specialty-VBC sponsor pairing out there
  • The “AIR” framework (autonomy, independence, representative governance), and why the third leg is the one most rollups get wrong
  • Why cardiology might be the cleanest specialty fit for value-based care, full stop (no structural fee-for-service conflict the way a hospital has)
  • Neil’s actual pitch to RFK Jr. for a “Level 6” reimbursement category for ambulatory IV diuretics (CMMI, this one’s free)
  • Where cardiology bifurcates in the next five years: outpatient access groups vs. hospital-based acute care

If specialty VBC, physician governance, or the cardiology rollup wave are anywhere on your radar, this one’s worth the listen.

Navvis partners with health systems and health plans to deliver real performance improvement across value-based care and fee-for-service models.

https://navvishealthcare.com/vbc

For expert analysis on healthcare M&A, strategy, finance, and markets, join 68K+ readers of Blake Madden’s Hospitalogy newsletter. Subscribe here: ⁠⁠⁠https://hospitalogy.com/⁠⁠⁠

Like our podcast? Listen to previous episodes here: ⁠⁠⁠https://hospitalogy.com/podcast/⁠⁠⁠

Be sure to leave us a review, and share our podcast with colleagues.

Follow Blake Madden on LinkedIn: ⁠⁠⁠⁠⁠https://www.linkedin.com/in/blakecmadden/⁠⁠⁠⁠⁠

Blake Madden
Blake Madden