As Published in Newswire, September 20, 2018
Following its recent Series B fundraising round, Cedar today announced the next evolution of its data-driven patient payment and engagement platform with new enhancements to its flagship solution, Cedar Pay. The updates further drive patient engagement by offering a truly unified patient billing experience and simple checkout options.
“As the consumer influence on healthcare continues to rise, it’s more critical than ever to deliver a payment and engaging experience that turns patients into advocates and makes it as easy as possible for them to interact with providers,” said Florian Otto, co-founder and chief executive officer at Cedar. “We are excited to share the next evolution of our platform, which further brings the modern, digital consumer experience to the forefront of patient billing.”
The Cedar platform leverages advanced data science, machine learning and smart segmentation to deliver insights that develop a complete picture of patient communication and payment preferences. The company’s innovative solution, Cedar Pay, enhances patient experience via highly personalized interactions, unique outreach methods, and customized payment strategies - enabling providers to improve patient satisfaction and drive financial results.
The latest enhancements to Cedar Pay further streamline and simplify the patient billing experience by providing:
● Truly Unified Billing – Patients can view everything associated with their visit in one place, including for other family members associated with their account. Medical bills are grouped by episodes of care instead of claims to match how each patient thinks about their medical care journey.
● Modern Checkout Experience – Now it’s even easier for patients to proactively pay their medical bills.Instead of requiring patients to look up their account via account number or medical record number, they can securely access their full online dashboard by entering their email or phone number.
● Dynamic Personalized Segmentation – Platform updates unlock additional opportunities to personalize the patient journey to drive more effective engagement that resonates with each unique patient.
“Providers are constantly challenged with establishing a streamlined approach to engaging patients when it comes to the billing process,” said Joel Perlman, advisor to Cedar and former executive vice president and chief financial officer at Montefiore System. “This is a critical pain point in healthcare as organizations look to optimize time with patients and drive satisfaction. Cedar’s new capabilities now allow providers to easily deliver consumer-friendly billing communications that drive patient engagement and increase collections on the back-end.”
As Cedar continues to optimize the patient experience across healthcare, the company is also developing a new front-end solution, Check-In Plus. The solution, available in 2019, will extend the Cedar platform to provide hospitals, health systems, and medical groups ways to more effectively engage with and educate patients prior to their visit.