Cedar launches Kora Platform to build out agentic AI for medical billing
Kora has achieved a 20% pickup rate for outbound calls, which the company says is 4x the industry average.
Cedar, a healthcare financial platform, has introduced Kora Platform, an AI-driven system designed to streamline medical billing processes. This suite of AI agents operates seamlessly with existing electronic health record systems, telephony, and call center platforms. Kora Platform offers capabilities such as autonomous voice interactions, text messaging, and advanced reporting.
According to Cedar's Chief Strategy Officer, Dugan Winkie, the platform aims to serve as an "agentic advocate" for patients, assisting them in navigating their financial responsibilities. Kora adapts in real-time to anticipate patients' needs and initiate appropriate financial actions, remembering past conversations to avoid redundant information exchanges.
The company notes a growing trend of "difficult-to-collect patient archetypes" due to changes in legislation, such as the One Big Beautiful Bill Act, and an increase in uninsured self-pay dollars, which have made billing processes more complex. Cedar has seen a 40% rise in uninsured self-pay dollars, highlighting the need for improved billing navigation solutions.
The Kora Platform is available 24/7 to autonomously address common billing inquiries on first contact, trained on Cedar's proprietary healthcare billing data. Cedar has processed over 1.5 billion payments across 50 million unique financial journeys, demonstrating the platform's extensive capabilities. Kora's automated inbound calls have managed over 600,000 patient conversations, achieving a 40% inbound call containment rate, four times the industry average.
Outbound calls have a 20% pickup rate, significantly higher than the industry standard. Additionally, Kora can increase payment rates by 21% within seven days of engagement, with a post-call patient satisfaction rate of about 4 out of 5. Cedar plans to continuously improve the platform by developing new workflows in collaboration with customers and innovation partners, potentially expanding Kora's capabilities beyond its current scope.
Written by urgent.news from Fierce Healthcare's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
