Cedar's Kora Platform: Agentic AI for Patient Billing

Cedar has launched its new Kora Platform, using agentic AI to improve patient billing and financial experiences. This system is designed to handle various aspects of patient collections. The Kora Platform can make outbound calls, answer inbound calls, and communicate via two-way text messages. It also provides in-depth reporting for healthcare providers. This development comes as patients are responsible for an increasing share of their medical costs. Nearly 40% of collectible dollars on Cedar's platform now come from patients without insurance, a 54% increase from three years ago. Kora’s inbound voice can verify patients, check eligibility, process payments, answer balance questions, explain bills, and provide collections guidance. Its outbound voice proactively reaches out to patients for actions like capturing missing insurance or collecting payments. What's interesting is Kora can distinguish caller intent, differentiating between patients who are confused, unable to pay, or need HSA access. The platform also has long-term memory, recalling past interactions to help resolve complex, multi-step billing issues. The bottom line is this technology aims to offer a more empathetic and efficient way for patients to manage their healthcare finances.