Waystar Technologies, Inc., a provider of leading healthcare payment technology, 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 with 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.
SOURCE: PRNewswire