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Cedar
Cedar sells an AI-native patient-payment platform used by Highmark, Novant, and USAP to lift collections without adding friction.
Cedar
Cedar sells a financial-engagement layer that sits between healthcare providers and their patients, a space historically fragmented across bolt-on payment portals, outsourced call centers, and static paper statements. The firm positions its platform not as a revenue-cycle management module but as a unified system of record for the patient financial journey — spanning digital payments, an intelligent voice agent called Kora, and coverage-discovery tools that surface under-utilized aid programs. Confirmed enterprise deployments include Allina Health, LCMC Health, and Talkiatry, with ApolloMD citing an observable collections lift shortly after conversion. The software ingests billions of historical patient transactions to train models that personalize payment asks and channel routing. An early-stage patient may see a text-to-pay prompt; a high-balance family may be routed to an automated installment plan or live support. The firm discloses serving millions of patient lives, with known footprints across the United States and engineering presences in San Francisco, Palo Alto, Mountain View, and Shanghai. Cedar runs go-to-market teams out of New York and an operational hub in Pennsauken, New Jersey, supporting marquee accounts such as Novant Health, USAP, and Highmark. In May 2024, partners including ApolloMD and Advanced Dermatology & Cosmetic Surgery publicly attributed rising patient satisfaction scores and reduced internal billing escalations to the platform, signaling a maturation in provider-side evidence for the ROI of consumerized healthcare payments. Structurally, Cedar operates as a verticalized patient-payments company rather than a horizontal ERP bolt-on, which means its incentive model aligns with net collections performance per encounter, not seat licenses. That alignment shapes a narrower but deeper product surface: the firm declines to build clinical workflow tools and instead funnels investment into NLP, payer-coverage logic, and omnichannel orchestration — a bet that the largest margin opportunity in provider finance lies in getting households to pay more willingly, not in squeezing backend billing staff.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Shanghai · Pennsauken · San Francisco · Palo Alto · Mountain View
Sector focus
Frequently asked questions
Does Cedar replace a provider’s entire revenue-cycle stack or sit on top?
Cedar sits on top of existing electronic health records and practice-management systems, absorbing patient-facing billing, payments, coverage checks, and support into a single integration. Providers keep their core claims and coding infrastructure while Cedar handles the post-adjudication financial experience. The firm describes its deployment as unifying fragmented patient-payment tools rather than displacing a health system's back-end revenue-cycle engine.
What concrete outcomes do providers cite from using Cedar?
ApolloMD reported an observable collections lift soon after conversion, and USAP's chief administrative officer stated Cedar outperformed every solution they had tested. Advanced Dermatology & Cosmetic Surgery noted higher patient satisfaction scores and reduced billing confusion. The firm itself claims higher collections and lower cost to collect, though it does not publish audited averages across its book.
How does Cedar’s voice agent Kora fit into the platform?
Kora is an intelligent voice agent that handles inbound patient billing calls in natural language, integrated into the same financial data platform that powers Cedar's digital payment and coverage workflows. It can negotiate payment plans, answer balance questions, and route complex cases to a human agent, with the stated goal of automating routine support interactions without degrading the patient experience.
Which markets and provider segments does Cedar target?
Cedar sells to health systems, large physician groups, and clinician-service agencies. Its named enterprise partners include Allina Health, LCMC Health, Novant Health, Highmark, USAP, Talkiatry, and ApolloMD — indicating a focus on scaled ambulatory and inpatient providers with complex patient-payment volumes. The firm has not disclosed activity in dental, veterinary, or other ancillary care verticals.
Is Cedar’s pricing tied to collections performance or is it SaaS?
Cedar describes its commercial model as aligned with client outcomes, though the exact structure — percentage of collections lift, transaction fee, subscription, or hybrid — is not publicly disclosed. Customer quotes reference measurable collections increases, suggesting a performance-linked component is core to the commercial relationship.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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