Latest news with #WaystarAltitudeAI™
Yahoo
08-05-2025
- Business
- Yahoo
Waystar Named Top Healthcare Payments Software Platform by MedTech Breakthrough
Recognition underscores the differentiated value of Waystar's software platform in addressing nearly half a trillion dollars in administrative waste LEHI, Utah and LOUISVILLE, Ky., May 8, 2025 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced MedTech Breakthrough named it Best Overall Healthcare Payments Solutions Provider. This marks the fourth consecutive year that MedTech Breakthrough recognized Waystar, previously awarding the company the Healthcare Payments Innovation Award and Best New Technology Solution for Healthcare Payments. As healthcare providers grapple with enormous administrative waste and fragmented technologies, Waystar continues to strengthen its position as an industry leader in AI and advanced automation. Recent milestones include the launch of Waystar AltitudeAI™, a comprehensive suite of AI-powered capabilities, and the introduction of first-to-market generative AI solutions at its Innovation Showcase. These innovations elevate productivity with demonstrable efficiency gains, including reducing denial appeal times by 70% and cutting denial-prevention workflows from three days to three minutes. "We're honored that MedTech Breakthrough has recognized us for the fourth consecutive year," said Matt Hawkins, Chief Executive Officer of Waystar. "We're proud to deliver transformational software that empowers more than one million providers nationwide. We remain committed to simplifying healthcare payments through thoughtful innovation—empowering providers and enabling them to focus on delivering exceptional patient care." This recognition follows recent notable accolades underscoring Waystar's leadership in healthcare payments, including ranking as the #1 healthcare payments solution in eight out of 18 AI categories by Black Book Market Research™, receiving recognition by Best in KLAS® across two revenue cycle categories, and earning inclusion in Forbes' inaugural Most Trusted Companies in America. The MedTech Breakthrough Awards program is conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global digital health and medical technology markets. The mission of the MedTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of health and medical technology categories, including Telehealth, Clinical Administration, Patient Engagement, Electronic Health Records (EHR), Virtual Care, Medical Devices, Medical Data and Privacy, and more. About WaystarWaystar's mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals list. Waystar's enterprise-grade platform annually processes over 6 billion healthcare payment transactions, including over $1.8 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at Media ContactKristin Investor ContactSandy Draperinvestors@ View original content to download multimedia: SOURCE Waystar
Yahoo
13-02-2025
- Business
- Yahoo
Waystar recognized as the industry's leading AI-powered software platform
Black Book Market Research™ survey of more than a thousand healthcare leaders ranked Waystar #1 in eight categories, more than any other RCM vendor LEHI, Utah and LOUISVILLE, Ky., Feb. 13, 2025 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today announced that it was named by Black Book Market Research™ as the industry's leading AI-powered software platform. Waystar earned #1 rankings in eight key categories, including claim accuracy, operational efficiency, reduction in administrative burden, and patient engagement. The independent survey assessed AI-powered revenue cycle management solutions from 80 vendors, gathering insights from more than 1,300 healthcare executives and technology decision-makers. Waystar ranked as the #1 healthcare payments solution in eight out of 18 AI categories — more than any other vendor, none of which secured more than one top ranking. As Black Book™ highlighted in its report, "Waystar showed dominant performance in claims submission, denial reduction, and reimbursement turnaround time, cementing its role as a leader in financial accuracy and efficiency." "We are grateful for the trust healthcare providers place in our AI-powered software platform, which has been central to our innovation strategy for nearly a decade," said Matt Hawkins, Chief Executive Officer of Waystar. "In January, we launched Waystar AltitudeAI™, a comprehensive set of AI capabilities for providers, including AltitudeCreate™, a first-of-its-kind generative AI capability for appealing denied claims. We continue to deliver on our vision of AI-powered software that drives productivity and accuracy and advances our mission." Surveyed industry leaders recognized the impact of Waystar's AI, automation, and predictive analytics solutions across multiple points of the revenue cycle. Claim, denial, and payer payments management: Waystar secured the #1 ranking in numerous AI-driven financial and payment management categories, including reduction in claim rejection and denial rates, increase in clean claim submission rates, time savings in claim resubmission and appeals resolution, and improvement in overall claims reimbursement turnaround time. Black Book™ highlighted: "Waystar significantly reduces the time required for claim resubmission and appeals by automating claim tracking and error correction workflows. Clients report faster resolution times due to the platform's real-time denial analysis and auto-correction tools. Its AI-driven appeal management prioritizes high-value claims, ensuring maximum reimbursement efficiency." "Waystar minimizes claim denials by utilizing AI-powered predictive analytics to catch errors before submission." Patient collections and engagement: Waystar earned the top recognition in upfront patient payment collection rates as well as automated patient payment processing and engagement. According to the report: "Waystar enhances patient financial interactions through AI-driven engagement and payment prediction. Clients appreciate the intuitive, patient-friendly portals offering real-time cost estimates." "Waystar leads in patient payment automation with AI-driven engagement tools that ensure higher collection rates with minimal patient friction." Finance and IT professionals prioritize AI adoption, recognizing its ability to automate manual work and reduce administrative burden across denial reduction, collections, and patient payment engagement. Purpose-built to eliminate inefficiencies, Waystar's modern, cloud-based platform leverages AI-powered capabilities to streamline end-to-end healthcare payments, delivering continuous enhancements that drive efficiency, accuracy, and sustainable return on investment. About Waystar Waystar's mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals Honor Roll. Waystar's enterprise-grade platform annually processes over 5 billion healthcare payment transactions, including over $1.2 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at Media ContactKristin Investor ContactSandy Draperinvestors@ View original content to download multimedia: SOURCE Waystar
Yahoo
05-02-2025
- Business
- Yahoo
Waystar recognized as the leading healthcare software platform with top marks for client satisfaction
Receives multiple Best in KLAS awards in Claims Management & Clearinghouse and Patient Access LEHI, Utah and LOUISVILLE, Ky., Feb. 5, 2025 /PRNewswire/ -- Waystar Holding Corp. (Nasdaq: WAY), a provider of leading healthcare payment software, today announced its top ranking in multiple 2025 Best in KLAS categories: Claims Management & Clearinghouse and Patient Access. Based on independent client feedback, these recognitions underscore the value healthcare providers gain from Waystar's AI-powered software platform, fueled by continuous innovation and a steadfast focus on client satisfaction, empowering providers to tackle the industry's most pressing challenges. Providers cite the need for improved client service as the primary driver for switching revenue cycle management vendors, according to a recent third-party survey. The latest Best in KLAS results highlight Waystar's commitment to client support excellence, with number-one rankings in claims management & clearinghouse and patient access solutions. These recognitions underscore Waystar's status as a top software leader in revenue cycle management, marking over a dozen consecutive years of being named Best in KLAS. "We are honored to receive this feedback from healthcare providers regarding our innovation and unwavering commitment to client support," said Matt Hawkins, Chief Executive Officer of Waystar. "Waystar will continue to build and deliver advanced, end-to-end revenue cycle solutions that help our clients achieve their operational goals while enhancing transparency and fairness for both providers and their patients." Providers increasingly turn to Waystar's software to navigate operational complexities and position themselves for future success. Waystar's platform optimizes revenue cycle workflows by integrating front-end patient access with back-end claims management to achieve operational efficiency and a meaningful ROI. Its powerful automation capabilities enhance denial prevention through eligibility verification and coverage detection, accelerating reimbursements. Powered by Waystar AltitudeAI™, a comprehensive set of AI capabilities for providers, the platform continuously adapts to changing payer policies and claim trends, delivering predictive insights that improve financial performance, ultimately enabling providers to achieve elevated productivity and precision in healthcare payments. In 2024, Waystar's claims and clearinghouse solutions played a crucial role in stabilizing the healthcare industry after a cyber incident that disrupted claims processing nationwide. In response, Waystar launched the Accelerated Implementation Program, quickly onboarding over 30,000 providers to its clearinghouse, restoring cash flow and ensuring continuity of care. Many of these providers have committed long-term to Waystar, expanding their adoption of additional solutions on the platform and becoming more active in their client community. Waystar's recognition by KLAS adds to a series of recent prestigious third-party awards, including Forbes' Most Trusted Companies in America, Fortune's Best Workplaces in Health Care, the Healthcare Payments Innovation Award from MedTech Breakthrough, and multiple Gold Stevie® Awards for the company's cloud-based software platform and leadership in AI. About WaystarWaystar's mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals Honor Roll. Waystar's enterprise-grade platform annually processes over 5 billion healthcare payment transactions, including over $1.2 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at Media ContactKristin Investor ContactSandy Draperinvestors@ View original content to download multimedia: SOURCE Waystar
