Waystar is a mission-critical, cloud-based software platform that provides end-to-end Revenue Cycle Management (RCM) solutions, purpose-built to simplify healthcare payments for providers and patients and accelerate financial results. The platform leverages the power of AI, generative AI, and advanced automation (such as Waystar AltitudeAI™) to automate work, prioritize tasks, and eliminate errors, driving meaningful outcomes for healthcare organizations.
Key Features and Capabilities:
- Financial Clearance: Includes real-time insurance eligibility verification, automated prior authorizations (Auth Accelerate), coverage detection, and patient estimation/price transparency tools.
- Patient Financial Care: Offers self-service payment options, personalized video EOBs, flexible payment plans, and advanced propensity-to-pay modeling to streamline collections and improve the patient experience.
- Clinical Integrity + Revenue Capture: Features like Clinical Documentation Integrity (CDI), Utilization Management, and Prebill Anomaly Detection help find missing charges and ensure complete and accurate charge capture.
- Claim + Payer Payment Management: Automates claim monitoring, streamlines attachments, manages payer remittances, and facilitates electronic claims submission with real-time status updates.
- Denial Prevention + Recovery: Provides tools to avoid, track, and appeal denials to maximize revenue recovery and get paid faster.
- Analytics + Reporting: Offers customizable dashboards and predictive analytics to monitor key performance indicators (KPIs), track collection rates, identify revenue leakage, and gain valuable insights into financial performance.
Target Users and Use Cases: Waystar serves healthcare organizations of all types and sizes, including physician practices, specialty practices, large health systems, and hospitals. It is used by over 1 million providers and 1,000+ hospitals and health systems, covering approximately 50% of the U.S. patient population. The primary use case is to unify and simplify the complex, manual processes of the healthcare payment cycle, allowing providers to focus on patient care while achieving greater financial stability.
