Cedar vs Raxia
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 | Raxia | |
|---|---|---|
| Pricing model | Percent of collections · SaaS base plus 1-4% of collections | Not published |
| Speed to go live | Deep EHR and billing system integration | Sidecar to existing PM systems, weeks |
| Automation model | Software platform · Consumer-grade patient billing experience | Autonomous agents · Rae handles patient calls and chat |
| Built for | Enterprise systems | Mid-size groups, Billing companies |
| Security posture | SOC 2 Type II, HITRUST, HIPAA | HIPAA, PCI DSS |
| Company maturity | 10 yrs (est. 2016) | Not disclosed |
| Financial backing | $350M+ · Series D | No disclosed funding |
| Named customers | 5 named | None public |
| Published results | Specific numbers public | No public numbers |
| Documented integrations | 1 listed | 1 listed |
| Third-party validation | None found | None found |
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 Raxia if you run patient billing across many PM systems and want AI to take over statements, payments, and patient support calls.
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
Raxia
AI agents that automate patient billing, payments, and support
- Founded
- n/a
- HQ
- Boston, MA
- Stage
- No disclosed funding
- Raised
- n/a
What it does
- Automated patient billing and statement workflows
- Rae AI agent handles patient phone and chat inquiries
- Behavioral analytics to time and tailor outreach
- Automated payment posting back to PM systems
- Works across 67 practice management system integrations
- Self-service payment plans and digital payments
Where it's strong
- Closed loop from statement to payment to posting, including the patient support calls most tools skip.
- Breadth of PM system connectivity suits billing companies running many client systems.
- Behavioral analytics aim outreach at when patients actually pay, not fixed statement cycles.
What buyers should weigh
- No named customers, disclosed funding, or founding details in public materials, so diligence falls on references.
- Young AI-agent category; letting Rae speak to patients needs monitoring and clear escalation rules.
- Company shares little publicly about SOC 2 status beyond HIPAA and PCI claims.
Integrations
Compare against the rest of Patient Payments & Billing
Deciding between these two?
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