Cedar vs RevSpring
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 | RevSpring | |
|---|---|---|
| Pricing model | Percent of collections · SaaS base plus 1-4% of collections | Per-transaction / per-chart · Per-statement fees plus payment processing |
| Speed to go live | Deep EHR and billing system integration | Statement conversion project, one to three months |
| Automation model | Software platform · Consumer-grade patient billing experience | Software platform · Platform plus print and mail operations |
| Built for | Enterprise systems | Mid-size groups, Enterprise systems, Payers |
| Security posture | SOC 2 Type II, HITRUST, HIPAA | HITRUST, SOC 2 Type II, PCI DSS, HIPAA |
| Company maturity | 10 yrs (est. 2016) | 45 yrs (est. 1981) |
| Financial backing | $350M+ · Series D | Private equity-owned (Frazier Healthcare Partners) |
| Named customers | 5 named | 2 named |
| Published results | Specific numbers public | Specific numbers public |
| Documented integrations | 1 listed | 3 listed |
| Third-party validation | None found | KLAS / analyst cited |
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 RevSpring if you want a proven, analytics-driven statement and payment vendor that can run both print and digital at health system scale.
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
RevSpring
Patient billing communications and payments at enterprise scale
- Founded
- 1981
- HQ
- Nashville, TN
- Stage
- Private equity-owned (Frazier Healthcare Partners)
- Raised
- n/a
What it does
- Print and digital patient billing statements
- PersonaPay payment portal and payment plans
- Analytics that tailor message and payment offers
- Omnichannel outreach: text, email, voice, mail
- Pre-service estimates and financial engagement
- Integrated payment processing via TrustCommerce
Where it's strong
- Proven at scale: 1.5 billion communications and over $8 billion in payments processed annually.
- Data-driven personalization measurably lifts patient payment rates versus generic statements.
- The TrustCommerce acquisition adds a widely deployed Epic-integrated payment gateway.
What buyers should weigh
- It is an incumbent print-heavy vendor at its core; digital-first rivals pitch faster innovation.
- Statement and processing fees add up, and switching statement vendors is disruptive mid-contract.
- PE ownership changes (GTCR to Frazier) can shift roadmap and pricing priorities.
Named customers
Geisinger Health Plan · Emory Healthcare
Integrations
Compare against the rest of Patient Payments & Billing
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