Due to high ionic conductivity and favorable oxygen electrocatalysis, doped $Bi_2O_3$ systems are promising candidates as solid oxide fuel cell cathode materials. Recently, several researchers reported reasonably low cathode polarization resistance by adding electronically conducting materials such as (La,Sr)$MnO_3$ (LSM) or Ag to doped $Bi_2O_3$ compositions. Despite extensive research efforts toward maximizing cathode performance, however, the inherent catalytic activity and electrochemical reaction pathways of these promising materials remain largely unknown. Here, we prepare a symmetrical structure with identically sized $Y_{0.5}Bi_{1.5}O_3$/LSM composite electrodes on both sides of a YSZ electrolyte substrate. AC impedance spectroscopy (ACIS) measurements of electrochemical cells with varied cathode compositions reveal the important role of bismuth oxide phase for oxygen electrocatalysis. These observations aid in directing future research into the reaction pathways and the site-specific electrocatalytic activity as well as giving improved guidance for optimizing SOFC cathode structures with doped $Bi_2O_3$ compositions.