• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage
  • Life Sciences
  • Research

Rev Cycle Startup Cedar Launches With $13M for Data-Driven Patient Payment Solution

by Jasmine Pennic 12/08/2017 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Rev Cycle Startup Cedar Launches With $13M for Data-Driven Patient Payment Solution

Revenue cycle management-focused startup Cedar has announced its entry into the health IT market with a new data-driven patient payment solution. Supported by $13M in Series A funding, the Cedar platform, which powers solutions for hospitals, health systems and medical groups, delivers modern intelligence to alleviate collections challenges, improve billing operations and ensure a personalized billing experience for patients.

A Data-Driven Payment Solution for Hospitals and Medical Groups

Today, the majority of revenue cycle offerings look at one or two transactional aspects of patient billing. The NYC-based company instead offers a comprehensive view of the overall patient payment ecosystem, leveraging millions of internal and external data points to inform the communication method, messaging and payment options that an individual patient may see. These are optimized over time via machine learning algorithms to continually ensure the best possible response from patients.

 

Through the Cedar platform, providers can consolidate billing information across multiple caregivers while delivering clear invoices detailing exactly what patients owe, with personalized click-to-pay options. In parallel, provider billing teams can keep track of all activities via a powerful patient CRM and financial dashboards. The Cedar platform can be integrated with any electronic health record (EHR) or practice management system (PMS), and implemented in ten weeks or less.

 

In initial testing, providers using the Cedar platform saw an average of:

– 22 percent increase in collections;

– 33 percent reduction in A/R days;

– 62 percent increase in self-serve payments; and

– >90 percent patient satisfaction when using the Cedar platform

“With patient payments being a critical component of the revenue cycle, it is necessary that hospitals and health systems provide patients with the best possible experience,” said Joel Perlman, advisor to Cedar and former EVP/CFO, Montefiore Health System, New York in a statement. “Cedar truly understands what it means to bring a patient-first approach to healthcare technology, and will allow providers to improve on the often confusing and emotional process of patient payment. In turn, hospitals and health systems will not only see an improvement in collections, billing operations and days in AR, but receive better patient satisfaction scores across the board.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: Cedar, Medical Billing, patient payment, Patient Payment Experience, Revenue Cycle Management, revenue cycle management systems, revenue cycle operations

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Insights

2025 EMR Software Pricing Guide

2025 EMR Software Pricing Guide

Featured Interview

Paradigm Shift in Diabetes Care with Studio Clinics: Q&A with Reach7 Founder Chun Yong

Most-Read

Medtronic to Separate Diabetes Business into New Standalone Company

Medtronic to Separate Diabetes Business into New Standalone Company

White House, IBM Partner to Fight COVID-19 Using Supercomputers

HHS Sets Pricing Targets for Trump’s EO on Most-Favored-Nation Drug Pricing

23andMe to Mine Genetic Data for Drug Discovery

Regeneron to Acquire Key 23andMe Assets for $256M, Pledges Continuity of Consumer Genome Services

CureIS Healthcare Sues Epic: Alleges Anti-Competitive Practices & Trade Secret Theft

The Evolving Role of Physician Advisors: Bridging the Gap Between Clinicians and Administrators

The Evolving Physician Advisor: From UM to Value-Based Care & AI

UnitedHealth Group Names Stephen Hemsley CEO as Andrew Witty Steps Down

UnitedHealth CEO Andrew Witty Steps Down, Stephen Hemsley Returns as CEO

Omada Health Files for IPO

Omada Health Files for IPO

Blue Cross Blue Shield of Massachusetts Launches "CloseKnit" Virtual-First Primary Care Option

Blue Cross Blue Shield of Massachusetts Launches “CloseKnit” Virtual-First Primary Care Option

Osteoboost Launches First FDA-Cleared Prescription Wearable Nationwide to Combat Low Bone Density

Osteoboost Launches First FDA-Cleared Prescription Wearable Nationwide to Combat Low Bone Density

2019 MedTech Breakthrough Award Category Winners Announced

MedTech Breakthrough Announces 2025 MedTech Breakthrough Award Winners

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |