Achievement recognizes Waystar's
enterprise-grade platform that leverages AI and proprietary,
advanced algorithms to help providers get paid faster, accurately,
and more efficiently
LEHI,
Utah, and LOUISVILLE,
Ky., May 9, 2024 /PRNewswire/ -- Waystar
Technologies, Inc., a provider of leading healthcare payment
technology, today announced that it has been selected as the
winner of the "Healthcare Payments Innovation Award" in the annual
MedTech Breakthrough Awards program 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 market. This marks the
third consecutive year Waystar has won a MedTech Breakthrough
award, repeating 2023's honor as the "Healthcare Payments
Innovation Award" winner and following its 2022 recognition as
"Best New Technology Solution for Healthcare Payments."
Waystar provides healthcare organizations with mission-critical,
cloud-based software that simplifies healthcare payments, enabling
clients to prioritize patient care and optimize their financial
performance. Waystar's software addresses the entire healthcare
payments workflow on a single, integrated platform, leveraging
innovative artificial intelligence (AI) and proprietary, advanced
algorithms to automate payment-related workflow tasks, enhancing
claim and billing accuracy, enriching data integrity, and reducing
labor costs.
Clients value Waystar's unique capabilities and client support,
evidenced by its Net Promoter Score of 74 and by its #1 rank versus
competitors in the percentage of clients indicating the highest
level of satisfaction, based on a third-party survey. As a
testament to Waystar's commitment to simplifying healthcare
payments, it launched an Accelerated Implementation Program
immediately following a recent cybersecurity incident to provide
healthcare organizations expedited access to revenue cycle
management software – enabling 30K+ providers to restore operations
and resume cashflow quickly.
"The healthcare payment ecosystem is highly complex with an
annual cost of wasteful spending in the billions, and most systems
use four or more software vendors for RCM and administrative
functions," said Steve Johansson,
Managing Director, MedTech Breakthrough. "Waystar is addressing
these complexities head on, with breakthrough software that helps
healthcare organizations while ensuring patients receive a modern,
transparent, and consumer-friendly financial experience. We're
thrilled to congratulate the Waystar team as our 'Healthcare
Payments Innovation Award' winner for 2024."
"Waystar harnesses the power of modern technology and advanced
automation to enable providers to focus on high-value efforts and
bring more humanity to caring for patients and communities," said
Matt Hawkins, CEO of Waystar. "It's
an honor to be back in MedTech Breakthrough's winners circle this
year and be recognized for our innovative efforts to simplify
healthcare payments. Importantly, Waystar is rapidly advancing
innovations that leverage generative AI and other sophisticated
technologies to empower providers to dedicate their time and energy
towards what matters most."
Waystar continues to introduce innovative advancements to its
platform that extend the benefits of cloud software to providers.
New generative AI innovations piloted by Waystar are purpose-built
to address providers' most critical challenges, from administrative
burdens and spending waste to enabling providers to spend more time
focusing on patients.
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
& Privacy, and many more. This year's program attracted
thousands of nominations from over 18 different countries
throughout the world.
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 a
million distinct providers, including 18 of 22 institutions on the
U.S. News Best Hospitals list. Waystar's enterprise-grade platform
annually processes over 4 billion healthcare payment transactions,
including over $900 billion in 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.
About MedTech Breakthrough
Part of Tech Breakthrough,
a leading market intelligence and recognition platform for global
technology innovation and leadership, the MedTech Breakthrough
Awards program is devoted to honoring excellence and innovation in
medical & health technology companies, products, services and
people. The MedTech Breakthrough Awards provide a platform for
public recognition around the achievements of breakthrough
healthcare and medical companies and products in categories that
include Patient Experience & Engagement, Health & Fitness,
Medical Devices, Clinical Administration, Connected Healthcare,
Medical Data, Healthcare Cybersecurity and more. For more
information visit MedTechBreakthrough.com.
Tech Breakthrough LLC does not endorse any vendor, product or
service depicted in our recognition programs, and does not advise
technology users to select only those vendors with award
designations. Tech Breakthrough LLC recognition consists of the
opinions of the Tech Breakthrough LLC organization and should not
be construed as statements of fact. Tech Breakthrough LLC disclaims
all warranties, expressed or implied, with respect to this
recognition program, including any warranties of merchantability or
fitness for a particular purpose.
Media Contact
Daniel Yunger / Nick Capuano
Kekst CNC
kekst-waystar@kekstcnc.com
View original
content:https://www.prnewswire.com/news-releases/waystar-wins-healthcare-payments-innovation-award-marking-its-third-consecutive-medtech-breakthrough-award-302141304.html
SOURCE Waystar