originally published at Health - Purple Foxy LadiesOne of the largest dermatology groups in the country realizes a $9.5 million increase in net profit, increases patient satisfaction to 91% with the Cedar Suite
NEW YORK, June 8, 2023 (Newswire.com) - Advanced Dermatology and Cosmetic Surgery, one of the country's leading dermatology practices, has increased patient payments by 73.5% in their first year of partnering with Cedar, an enterprise financial engagement platform that improves the end-to-end journey for consumers.
Advanced Dermatology and Cosmetic Surgery (ADCS) grew to become one of the largest dermatology practices in the country by using state-of-the-art technologies to treat each of their patient's unique medical needs. However, ADCS saw an opportunity to take their consumer experience to the next level with a single, cohesive, engaging digital experience across the entire care journey. That meant replacing their siloed systems, manual intake processes and opaque billing practices—which were hurting patient payments, no-show rates and operational efficiency.
To achieve their vision, ADCS partnered with Cedar to deliver a superior financial experience—before and after care. Their objective was to improve digital engagement and reduce manual processes within the revenue cycle. By investing in the Cedar Suite, Cedar's end-to-end healthcare financial engagement platform, to power patient check-in, billing and payments, ADCS has added $9.5 million in net profit to their bottom line over the first 12 months, as well as:
- 91% patient satisfaction
- 26% reduction in patient no-show rate
"With Cedar's end-to-end solution, our patients are getting a consistent experience with our brand. They use one system to manage their visits and their bills, and these interactions reinforce one another—helping patients take the right actions at the right times," said Yesenia Alvarez, Executive Vice President of Operations. "Not only do our patients appreciate the seamless digital experience, but our staff are also empowered to do their best work with the Cedar Suite, as it makes their jobs easier."
"At Cedar, we know that modern consumer engagement is not only key to improving financial outcomes for providers but also can help them stand out in a competitive market," said Florian Otto, CEO and Co-founder of Cedar. "It's been a privilege to work with ADCS as they empower both their patients and staff with an improved end-to-end experience."
To learn more about ADCS' successful partnership with Cedar, read the full case study here.
Cedar is committed to improving the healthcare financial experience for all. With an innovative platform that connects providers and payers, Cedar empowers healthcare consumers with an optimized journey—all powered by data science and interactive design. For Cedar clients, this leads to increased payments, more efficient operations and greater consumer loyalty. To learn more about why leading U.S. healthcare organizations trust Cedar to manage the end-to-end consumer experience from pre-registration to post-visit billing, visit www.cedar.com and join us on LinkedIn, Twitter, Facebook and YouTube.Contact Information:
Original Source: Advanced Dermatology and Cosmetic Surgery Significantly Improves Financial Outcomes and Patient Satisfaction Through Partnership With Cedar