Cedar

Consumer-grade patient billing for health systems

Our take

Cedar is a patient financial engagement platform for large health systems and physician enterprises. It takes the post-visit mess of statements, portals, and phone calls and replaces it with one personalized digital experience: clear bills, tailored payment options, and machine learning that decides how and when to reach each patient. Its Epic App Market integration puts the experience directly inside MyChart, and its newer AI line adds a voice agent (Kora) and staff copilots to shrink billing call volume.

Founded in 2016 in New York, Cedar has raised over $350M, including a $200M Series D led by Tiger Global at a $3.2B valuation, with a16z and Thrive Capital on the cap table. It serves dozens of providers including Novant Health, Yale New Haven Health, ChristianaCare, and Summit Health/CityMD, and engages more than 300,000 patients daily. It is the scale player in patient billing; the open question for buyers is whether its enterprise pricing pays for itself in collection lift and call deflection.

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.

Latest

In 2025 Cedar launched Kora, an AI voice agent for patient billing calls, and expanded its Cedar Intelligence AI features including Bill Navigator and Agent Copilot.