Cedar vs Flywire
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 | Flywire | |
|---|---|---|
| Pricing model | Percent of collections · SaaS base plus 1-4% of collections | Per-transaction / per-chart · Payment processing fees, quote only |
| Speed to go live | Deep EHR and billing system integration | Deep Epic payment workflow integration |
| Automation model | Software platform · Consumer-grade patient billing experience | Software platform · Patient payments embedded in MyChart |
| Built for | Enterprise systems | Enterprise systems |
| Security posture | SOC 2 Type II, HITRUST, HIPAA | SOC 2 Type II, PCI DSS, HITRUST, HIPAA |
| Company maturity | 10 yrs (est. 2016) | 17 yrs (est. 2009) |
| Financial backing | $350M+ · Series D | Public (NASDAQ: FLYW) |
| Named customers | 5 named | 2 named |
| Published results | Specific numbers public | Specific numbers public |
| Documented integrations | 1 listed | 1 listed |
| Third-party validation | None found | KLAS / analyst cited |
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 Flywire if you're a health system on Epic that wants patient payments and affordable payment plans embedded directly in MyChart and Resolute.
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
Flywire
Public payments company with a healthcare affordability arm
- Founded
- 2009
- HQ
- Boston, MA
- Stage
- Public (NASDAQ: FLYW)
- Raised
- $263M pre-IPO
What it does
- Digital patient billing and payment portal
- Analytics-driven patient outreach and engagement
- Self-service payment plans, provider-funded or financed
- Integrated non-recourse financing up to 60 months
- Cross-border payments in 140+ currencies
Where it's strong
- Public-company scale and financial transparency, with proven deployments at very large systems like Banner Health and CommonSpirit.
- The affordability suite lets providers offer long payment plans without carrying receivables, since financed plans are funded non-recourse.
- A Forrester Total Economic Impact study commissioned by Flywire found clients can reach a 269% ROI.
What buyers should weigh
- Healthcare is one of four verticals alongside education, travel, and B2B, and recent capital went to travel (the $330M Sertifi deal), so healthcare is not the company's center of gravity.
- It covers patient payments and engagement, not claims, denials, or payer-side revenue cycle work, so you still need other RCM tooling.
- Best suited to large systems with high patient-pay volume; smaller groups may not justify the platform.
Named customers
Banner Health · CommonSpirit Health
Integrations
Compare against the rest of Patient Payments & Billing
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