Cedar is a patient payment and engagement platform that integrates electronic health records (EHR) with billing, insurance navigation, and financial assistance to create a single, clear bill for patients. This approach addresses the financial strain on patients by simplifying medical expenses and improving payment collection for healthcare providers.
Funding
$619.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Healthcare costs are rising, and patients often struggle to understand and manage their medical bills due to complex billing processes and a lack of transparency. This can lead to financial strain for patients and difficulties in payment collection for healthcare providers.
Solution
Cedar provides a patient payment and engagement platform that integrates with electronic health records (EHRs) to streamline the billing and payment experience. The platform consolidates billing, insurance navigation, and financial assistance options into a single, easy-to-understand bill for patients. By connecting providers, payers, and financial resources, Cedar simplifies medical expenses, improves patient satisfaction, and increases payment collection rates for healthcare providers. The platform leverages AI to guide patients through the billing process and offers personalized support, such as payment plans and access to tax-free HSA dollars and Medicaid coverage.
Target Audience
Cedar's primary customers are healthcare providers, including hospitals, clinics, and physician groups, who are looking to improve patient financial experiences and increase revenue collection.
Features
- Integration with existing EHR systems for seamless data exchange
- Automated insurance navigation to clarify coverage and reduce patient confusion
- Personalized payment plans and financial assistance options tailored to individual patient needs
- AI-powered support to answer patient questions and resolve billing issues
- Consolidated billing statements that combine all charges into a single, easy-to-understand format
- Secure online payment portal with multiple payment options
- Automated reminders and notifications to encourage timely payments
- Reporting and analytics dashboards to track payment trends and identify areas for improvement