Turn your receivables into revenue
Cash flow is essential for quality patient care. Cedar Financial helps healthcare organizations recover more at every stage of the revenue cycle:
With cutting-edge technologies and a staff of experienced medical collectors, our patient-first approach is proven to streamline workflows, reduce costs and maximize revenue, all while delivering a positive payment experience.
See why leading hospitals, physicians and clinics trust us with their patient accounts.
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While everyone needs medical help at some point, not everyone pays upfront for the service.
Rising medical expenses, high-deductible insurance plans and inadequate communications can slow or halt payments, making it difficult for you to cover the costs of providing excellent care.
But as a busy medical provider with patients to care for, you may not have the time or resources to dedicate to collections efforts.
Since 1991, Cedar Financial has been achieving higher recovery rates for our clients in healthcare.
We provide custom accounts receivable management (ARM) solutions for medical providers of all sizes, from independent practices to multi-hospital systems, including:
In addition to debt collection for healthcare, Cedar Financial excels in Early Out Self Pay Pre Collections , International Patient Collections and Legal Collections, making us your one-stop shop for revenue cycle management.
When it comes to medical debt collection agencies, you have choices. However, the wrong choice could put your practice and patient relationships at risk.
At Cedar Financial, we believe that your success is our success. That’s why we go the extra mile to provide the most comprehensive, professional service in the industry.
Collect in All 50 U.S. States and 150+ Countries
No matter where your patient is located, we’ve got you covered. Headquartered in California, Cedar Financial is licensed to collect anywhere in the United States, with access to a worldwide network of nationally licensed debt collectors.
An ACA International and TCM Group partner, we adhere to the highest ethical, professional and customer service standards in the industry, including HIPAA and FDCPA requirements.
Local Offices Deliver Higher International Success Rates
We have spent the last 30 years vetting our powerful network of international medical collection agency partners. These local agents are familiar with the language, culture and laws of your patients for more effective dispute resolution and cross-border medical debt recovery.
Specialized Medical Collections Team Guides Patients to Payment
Our skilled medical bill collectors understand the ins and outs of complex medical billing processes. We guide your patients along their journey to payment by educating them about their bills, removing potential insurance obstacles and providing options for easy payment.
The result? A positive payment experience and faster recovery of your funds.
People-First Approach Increases Patient Satisfaction and Revenue
Medical bills are often sudden and unexpected, hitting people at the lowest times in their lives. Aggressive collections can alienate patients more, putting your funds and reputation at risk.
At Cedar Financial, we believe a human approach gets better results – and patients agree! By treating every person with dignity and respect, we build a relationship of trust, making it more likely that patients will pay when they have the means.
Tailored Communications for Better Patient Engagement
Nothing is less inspiring than a generic demand for payment written in “legalese.”
At Cedar Financial, we make every contact count, crafting our letters, emails and scripts to fit patient-, client- and industry-specific needs. We greet patients by name, proactively address common disputes and provide easy options in a soft language your patient will understand.
Digital Channels Increase Patient Response
Today’s consumers don’t like talking on the phone or opening mail – yet most collections are still done through traditional channels only.
Cedar Financial uses a compliant, omnichannel approach to reach patients the way they prefer – including Email, SMS, Social Media, Web and Chat. With easy self-service options, patients can pay on their own time, or contact us on their channel of choice for extra support.
State-of-the-Art Collection Technologies
Want to maximize A/R, but don’t have the capital for new technology? Let us handle it instead!
We are constantly investing in the latest innovations for superior communications, compliance and collections. Our technologies include:
Quality Assurance Built In
We know quality matters to you. That’s why everything we do has quality controls built in.
We use AI-powered call recording, monitoring and reporting tools to stay on top of agent performance and compliance at all times. Plus, you get 24/7 access to real-time status updates, reports and collection notes through our secure online portal and client relations reps.
“No Win, No Fee” Contingency Rates
Keep more of every dollar recovered with our industry-competitive rates. “No win, no fee” means you don’t pay unless we recover your funds.
Our goal is to help save you time, money and resources so you can get back to doing what you do best – caring for your patients.
How much of your accounts receivable (AR) inventory is over 90 days old?
At Cedar Financial, we do more than just collect medical debt – we help hospitals, physicians and other providers streamline their A/R processes to cut costs, optimize recovery and free up valuable resources for new revenue streams.
Our proactive first party solutions help you engage with patients early on, increasing the likelihood that they will pay on time.
In healthcare, litigation is a touchy subject – but we believe that it is an essential part of the AR process.
Other companies don’t handle litigation well. Here’s how Cedar Financial ensures minimal risk and maximum recovery for each legal file.
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Open Invoices
| Unpaid Invoice Interest Rate | Up to 16% |
|---|---|
| Can Collection Fees be added? | Only if expressly authorized by agreement or permitted by law |
| Statute of Limitations/Prescription | 6 years |
Judgments
| Post Judgment Interest Rate | Up to 9% |
|---|---|
| Judgment Expiration | 20 years; 10 years for judgment liens on real property |
| Can judgment be renewed? | Judgment liens can be renewed another 10 years |
We offer on-the-ground representatives in your patient’s location who understand the practices that work to support full recovery of your funds.
We are familiar with local laws and customs and employ a number of different divisions to connect you to the right debt collection service so you can recover your debt quickly.
For pre-legal services, we work on a “no collection – no fee” basis, so you will only pay when your funds are recovered. For legal services, we offer low-cost options.
We have no minimum value or volume that is required to place accounts.
We service consumer and commercial debts, large or small, across many industries.
Normal debt collection proceedings can take up to one year.
We start with an initial investigation into the debtor’s registration and credit information. Phone calls, demand letters, emails and sometimes faxes are then sent out. If the debt is disputed, we request proof from the debtor to send to the creditor. If the debtor cannot be contacted, our Tracing Center will carry out an address and phone search. We also request a face-to-face meeting, if necessary. If all efforts do not lead to payment, we may suggest a legal filing.
Yes, we provide on-the-ground representatives to visit your debtor in person at their location in to trace and contact evasive debtors and investigate assets for potential legal action.
Yes, of course. We need all the relevant documents about the case, which includes any invoices, the debtor’s information and other supporting documents.
Yes. In the event all amicable efforts are exhausted, our in-house legal team will conduct a thorough review of the file to determine collectability in litigation. If the file qualifies and you approve, we will work with the local attorney in your debtor’s jurisdiction to file suit and pursue the claim, including asset location, arbitration, trial representation, obtainment of a judgment and post-judgment enforcement.
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* The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information.
