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 waystar.com.
Media Contact
Kristin
Lee
kristin.lee@waystar.com
Investor Contact
Sandy
Draper
investors@waystar.com
502-238-9511
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SOURCE Waystar
