Otto: Cedar uses multi-armed bandit algorithms to personalize billing follow-ups
Florian Otto · Why 50% of Every Dollar Billed Is Lost In Healthcare · Jul 14, 2023 · at 5:43
Florian Otto, CEO of Cedar, describes how the fintech company adapts e-commerce nudging techniques from platforms like Amazon to optimize patient bill payment completion.
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“So we use these multi-armed bandits, they're called. And then based on how the patient clicks through the app, that gives us another set of data, which is engagement data. And together with this engagement data, then of course the follow-ups are different. I mean, it's the same when you shop on Amazon, they get you to check out the shopping cart in a nice way. And we use the same algorithms that basically nudge the patients throughout this process and personalizing all of these cascades.”
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