Cedar vs FinPay
Two Patient Payments & Billing vendors, side by side. Facts from public sources; judgments are ours.
At a glance
Derived from public facts · a rough scale, not a ranking
| Cedar | FinPay | |
|---|---|---|
| Pricing model | Percent of collections · SaaS base plus 1-4% of collections | Not published · Platform plus managed service fees |
| Speed to go live | Deep EHR and billing system integration | Admissions workflow redesign, one to three months |
| Automation model | Software platform · Consumer-grade patient billing experience | Tech-enabled service · Platform plus engagement specialists |
| Built for | Enterprise systems | Mid-size groups, Enterprise systems |
| Security posture | SOC 2 Type II, HITRUST, HIPAA | HIPAA, PCI DSS |
| Company maturity | 10 yrs (est. 2016) | 11 yrs (est. 2015) |
| Financial backing | $350M+ · Series D | $28M+ · Growth stage |
| Named customers | 5 named | 1 named |
| Published results | Specific numbers public | No public numbers |
| Documented integrations | 1 listed | 3 listed |
| Third-party validation | None found | None found |
Bottom line
- Pick Cedar if you are a large health system leaking self-pay revenue and want a consumer-grade billing experience with fees tied partly to collections lift.
- Pick FinPay if you run behavioral health or other high-balance episodic care and want patients financially cleared and on payment plans before admission.
Cedar
Consumer-grade patient billing for health systems
- Founded
- 2016
- HQ
- New York, NY
- Stage
- Series D
- Raised
- $350M+
What it does
- Consolidated digital patient billing and payment experience
- Personalized outreach and payment options driven by ML
- Kora AI voice agent answers inbound billing calls
- Bill explanations and coverage context inside the bill
- Delivers billing inside Epic MyChart
Where it's strong
- The category leader for patient financial experience at large health systems, with reference customers like Novant and Yale New Haven and 300,000+ patient interactions a day.
- Deep Epic and MyChart integration means the experience shows up where patients already are, not in yet another portal.
- Its 2025 agentic AI line (Kora, Bill Navigator, Agent Copilot) attacks call center cost, projecting 30% of inbound billing calls automated.
What buyers should weigh
- Built for large health systems and physician enterprises; small and mid-size groups are not the target and should look at Collectly or similar.
- Commercial terms typically scale with patient payment volume, so model the effective take rate against your current cost to collect.
- It improves the patient-facing layer but is not a full RCM replacement; your billing stack stays.
Named customers
Novant Health · Yale New Haven Health · ChristianaCare · Summit Health/CityMD · ApolloMD
Integrations
FinPay
Pre-care patient financial engagement and payment plans
- Founded
- 2015
- HQ
- King of Prussia, PA
- Stage
- Growth stage
- Raised
- $28M+
What it does
- Pre-care patient financial clearance and education
- Automated verification of benefits and responsibility estimates
- Compliant payment plans and digital payments
- FinPass digital experience from admission through discharge
- Managed patient engagement teams as a service
- Post-discharge balance follow-up
Where it's strong
- Pre-care engagement model collects money at the point of highest patient willingness, before treatment starts.
- Deep behavioral health and SUD specialization, a segment most payment vendors ignore.
- Offers managed services, so providers without billing staff can still run the model.
What buyers should weigh
- The model requires changing admissions workflows, which takes operational buy-in, not just software install.
- Concentration in behavioral health means fewer references in acute or ambulatory settings.
- No major funding or expansion announcements since the 2022 growth round.
Named customers
Recovery Centers of America
Integrations
Compare against the rest of Patient Payments & Billing
Deciding between these two?
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