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Waystar

Name: Waystar
Rating: 4.5 (2 reviews)

By Waystar

1499 Interested

Highlights : About Waystar

Revenue Analysis

Insurance Verification

Hidden Health Insurance Plan Coverage Detection

Maintain Revenue Integrity

Detect and Fix Medical Mistakes in Medical Coding and Claims

Automated Claims Management Workflows

Predict Claim Denial and Revenue Loss/Leakage

Denial Mitigation

Payer Contracts and Terms Analysis

Contract Modeling

Patient Payment Collection

Optimized Patient Financial Experiences

About Waystar

Waystar is a cloud-based revenue cycle management platform for healthcare systems. The solution is used by organizations of all sizes to manage administrative and clinical functions. Key features include insurance verification, coverage detection and claims management. Waystar uses machine learning algorithms to predict claim denials and sends workable denials to the assigned workgroup. It automates the prediction of revenue leakage as well. Users can manage contracts through a centralized repository. Real-time contract loading and modeling is also offered. Reports can be generated to assess payer contract performance and other key performance indicators at the enterprise level. Waystar integrates payment processing across the hospital information system, performance management system and electronic medical records system. It offers features such as on-the-fly editing and the ability to automatically split remits among various providers. It also provides an automated patient payment workflow. The solution is available on a monthly subscription basis and support is available via phone.

Specifications

Business Size

Mid-Market

Deployments

Cloud

Language Support

English

Platforms

Product Details

Benefits

Automated Insurance Claims Management

Waystar is built with automated claims management workflows that accelerate insurance claim filing, review, submission, and monitoring. The platform has a claim scrubbing feature that permits users to check if their claims are accurate and error-free before they submit them to insurance companies and providers. It also sends messages that are written in plain English language, suggesting ways for rectifying issues, mistakes, and errors in claims.

Anticipate Claim Denial And Revenue Loss

The revenue cycle management platform is equipped with predictive capabilities. The platform uses machine-learning algorithms that can help users anticipate how likely their claims will be denied as well as predict instances of revenue loss that may happen. Because of this, they will be able to reduce denials and implement ways to avoid revenue loss and leakage.

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