Seth Cohen, President of Cedar, is addressing the affordability of health care by shifting the emphasis from billing functionality to patient financial navigation by using technology to connect patients to underutilized financial resources. The Cedar Cover platform is designed to identify and enroll eligible uninsured or underinsured patients into Medicaid, ACA, available pharmaceutical copay subsidies, and untapped Health Savings Accounts, which can be used retrospectively to cover previous medical and ongoing bills, benefiting the patient and providers. An AI agent handles patient service calls to help patients navigate the challenges of connecting to these resources and identifying new coverage options in these uncertain times.
Seth explains, "Cedar is the largest independent solution focused entirely on the patient financial experience in healthcare. As you probably know, in the revenue cycle space, there are lots of vendors out there selling solutions up and down the revenue cycle, mostly with an emphasis on insurance reimbursement. We are the only one that we're aware of that is really driving at scale a better patient experience, so fully focused there. And so what that means is we are the entity responsible for sending bills to patients and helping those patients navigate their financial obligations to large hospitals, health systems, and large physician groups."
"But that word advocacy, I think, is very relevant now because what we've discovered and a huge, huge shift over the last decade is that most patients cannot afford the bills they're receiving. We're really in an affordability crisis. And so it's less about sending a bill with good billing functionality. It's more about helping the patient navigate how to manage that bill. And so there is a lot of advocacy in that."
#Cedar #FinancialSupport #MedicalBills
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