New Research from Waystar and Modern Healthcare Reveals AI's Transformative Impact on Healthcare Payments
Waystar Holding Corp. (Nasdaq: WAY) and Modern Healthcare have released a study on AI's impact in healthcare payments. The research, surveying over 60 senior executives and finance leaders, reveals significant benefits of AI adoption:
Key findings:
- 75% report positive ROI from AI in healthcare payments
- 90% plan to increase AI investments soon
- AI adoption has improved staff productivity, revenue, and patient satisfaction
- 66% expect to invest in generative AI within 18 months
The study highlights AI's potential to simplify healthcare payments, automate tasks, and allow providers to focus more on patient care. Waystar's CEO, Matt Hawkins, emphasized the company's leadership in innovation and focus on delivering ROI across their software platform.
Waystar Holding Corp. (Nasdaq: WAY) e Modern Healthcare hanno pubblicato uno studio sull'impatto dell'IA nei pagamenti sanitari. La ricerca, che ha coinvolto oltre 60 dirigenti senior e leader finanziari, rivela i significativi vantaggi dell'adozione dell'IA:
Risultati chiave:
- Il 75% riporta un ROI positivo dall'IA nei pagamenti sanitari
- Il 90% prevede di aumentare gli investimenti nell'IA a breve
- L'adozione dell'IA ha migliorato la produttività del personale, i ricavi e la soddisfazione dei pazienti
- Il 66% si aspetta di investire in IA generativa entro 18 mesi
Lo studio evidenzia il potenziale dell'IA nel semplificare i pagamenti sanitari, automatizzare le attività e consentire ai fornitori di concentrarsi maggiormente sulla cura dei pazienti. Il CEO di Waystar, Matt Hawkins, ha sottolineato la leadership dell'azienda nell'innovazione e l'attenzione a fornire ROI attraverso la loro piattaforma software.
Waystar Holding Corp. (Nasdaq: WAY) y Modern Healthcare han publicado un estudio sobre el impacto de la IA en los pagos de salud. La investigación, que encuestó a más de 60 ejecutivos senior y líderes financieros, revela los beneficios significativos de la adopción de la IA:
Hallazgos clave:
- El 75% informa un ROI positivo de la IA en los pagos de salud
- El 90% planea aumentar las inversiones en IA pronto
- La adopción de la IA ha mejorado la productividad del personal, los ingresos y la satisfacción del paciente
- El 66% espera invertir en IA generativa dentro de 18 meses
El estudio destaca el potencial de la IA para simplificar los pagos de salud, automatizar tareas y permitir a los proveedores centrarse más en la atención al paciente. El CEO de Waystar, Matt Hawkins, enfatizó el liderazgo de la empresa en innovación y su enfoque en ofrecer ROI a través de su plataforma de software.
Waystar Holding Corp. (Nasdaq: WAY)과 Modern Healthcare가 의료 지불에서 AI의 영향에 대한 연구를 발표했습니다. 60명 이상의 고위 경영진과 재무 리더를 대상으로 한 이 연구는 AI 채택의 중요한 이점을 드러냅니다:
주요 발견:
- 75%는 의료 지불에서 AI의 긍정적인 ROI를 보고했습니다
- 90%는 곧 AI 투자를 늘릴 계획입니다
- AI의 채택은 직원 생산성, 수익 및 환자 만족도를 향상시켰습니다
- 66%는 18개월 이내에 생성적 AI에 투자할 것으로 예상합니다
이 연구는 의료 지불을 간소화하고, 작업을 자동화하며, 제공자들이 환자 치료에 더 집중할 수 있도록 하는 AI의 잠재력을 강조합니다. Waystar의 CEO인 Matt Hawkins는 회사의 혁신 주도력과 소프트웨어 플랫폼 전체에서 ROI를 제공하는 데 초점을 맞추고 있음을 강조했습니다.
Waystar Holding Corp. (Nasdaq: WAY) et Modern Healthcare ont publié une étude sur l'impact de l'IA dans les paiements de santé. La recherche, qui a interrogé plus de 60 cadres supérieurs et leaders financiers, révèle des avantages significatifs de l'adoption de l'IA :
Résultats clés :
- 75 % rapportent un retour sur investissement positif de l'IA dans les paiements de santé
- 90 % prévoient d'augmenter bientôt les investissements dans l'IA
- L'adoption de l'IA a amélioré la productivité du personnel, les revenus et la satisfaction des patients
- 66 % s'attendent à investir dans l'IA générative dans les 18 mois
L'étude souligne le potentiel de l'IA pour simplifier les paiements de santé, automatiser les tâches et permettre aux prestataires de se concentrer davantage sur les soins aux patients. Le CEO de Waystar, Matt Hawkins, a souligné le leadership de l'entreprise en matière d'innovation et son attention à offrir un retour sur investissement à travers leur plateforme logicielle.
Waystar Holding Corp. (Nasdaq: WAY) und Modern Healthcare haben eine Studie über den Einfluss von KI auf die Gesundheitszahlungen veröffentlicht. Die Forschung, die über 60 Führungskräfte und Finanzleiter befragte, zeigt signifikante Vorteile der KI-Annahme:
Wesentliche Ergebnisse:
- 75% berichten von einer positiven Rendite aus KI in Gesundheitszahlungen
- 90% planen, die Investitionen in KI bald zu erhöhen
- Die Annahme von KI hat dieProduktivität des Personals, die Einnahmen und die Patientenzufriedenheit verbessert
- 66% erwarten, innerhalb von 18 Monaten in generative KI zu investieren
Die Studie hebt das Potenzial von KI hervor, Gesundheitszahlungen zu vereinfachen, Aufgaben zu automatisieren und den Anbietern zu ermöglichen, sich mehr auf die Patientenversorgung zu konzentrieren. Der CEO von Waystar, Matt Hawkins, betonte die Führungsrolle des Unternehmens in der Innovation und den Fokus auf die Bereitstellung von Renditen über ihre Softwareplattform.
- 75% of respondents reported positive ROI from AI implementation in healthcare payments
- 90% of surveyed organizations plan to invest in AI in the near future
- AI adoption has led to increased staff productivity, higher revenue, and improved patient satisfaction
- 66% of respondents plan to invest in generative AI over the next 12-18 months
- The healthcare payments software market is expected to grow from its current value of $15 billion
- Overall AI platform adoption in healthcare payments is currently only at 3%
Insights
The research findings from Waystar and Modern Healthcare highlight a significant shift in the healthcare payments landscape, driven by AI adoption. With 75% of respondents reporting positive ROI from AI implementation and 90% planning to increase AI investments, this signals a robust growth trajectory for companies like Waystar in the healthcare payments software market.
The current 3% overall platform adoption rate, contrasted with 74% using AI for specific tasks, indicates substantial room for market expansion. This gap represents a significant opportunity for Waystar to capture market share and drive revenue growth. The projected increase in market value from the current
Waystar's focus on generative AI, as demonstrated in their Innovation Lab, positions them at the forefront of this technological shift. With 66% of respondents planning to invest in generative AI within 18 months, Waystar's early adoption could translate into a competitive advantage and increased market leadership.
For investors, these trends suggest strong growth potential for Waystar, with the company well-positioned to capitalize on the increasing demand for AI-driven healthcare payment solutions.
This research underscores a transformative shift in healthcare operations, with AI emerging as a critical tool for addressing longstanding challenges in the industry. The reported benefits of AI adoption, including increased staff productivity, higher revenue and improved patient satisfaction, address key pain points in healthcare delivery and financial management.
The planned investments in AI, particularly in areas like denial and appeal management, coding and claim management, indicate a strategic focus on optimizing revenue cycles and reducing administrative burdens. This aligns with broader industry trends towards operational efficiency and cost reduction in the face of ongoing financial pressures.
The high percentage of organizations planning to invest in AI within the next 12 months suggests a rapid acceleration in technology adoption. This could lead to a significant reshaping of healthcare operations and potentially disrupt traditional workflows and job roles within healthcare organizations.
For Waystar, this industry-wide shift presents both opportunities and challenges. While there's clear demand for their AI-driven solutions, they'll need to ensure their offerings can deliver measurable ROI and integrate seamlessly with existing healthcare systems to maintain their market position.
Leading health systems and providers experience increased productivity, revenue, and satisfaction with AI adoption
The research provides insights into how leading healthcare systems, hospitals, and medical practices harness the power of AI to tackle administrative burdens and streamline labor-intensive processes. It also identifies opportunities to maximize AI's benefits while overcoming potential barriers to adoption. The study surveyed over 60 senior executives and finance leaders at prominent healthcare organizations.
Key findings from the study include:
- Strong ROI from AI implementation in healthcare payments: A substantial majority of respondents (
75% ) reported that AI has already delivered a positive return on investment for their organizations, underscoring its value in healthcare payments. - Significant benefits across the software platform: AI adoption has led to measurable improvements in operations, including increased staff productivity, higher revenue, reduced human error, lower operational costs, and improved patient satisfaction.
- Growing AI adoption with future investment plans: Nearly three-quarters of respondents use AI for specific revenue cycle tasks, though overall platform adoption is only at 3 percent. This gap underscores the significant opportunity ahead. Yet,
90% plan to invest in AI in the near future, most within the next 12 months, a trend poised to propel the growth of the healthcare payments software market, increasing its value from the$15 billion - Generative AI gaining traction:
66% of respondents foresee investing in generative AI over the next 12-18 months. They expect key improvement areas such as denial and appeal management, coding, claim management, and reviews.
"At Waystar True North, we showcased the power of harnessing AI, including Generative AI in the Waystar Innovation Lab™ to hundreds of top healthcare leaders across the nation," said Matt Hawkins, Chief Executive Officer of Waystar. "Our research and ongoing discussions with healthcare leaders reveal a clear trend: Generative AI has immense potential to simplify healthcare payments. We are grateful to be a leader in innovation with a core focus on delivering demonstrable ROI across the Waystar software platform."
As healthcare systems, hospitals, and medical practices grapple with administrative burdens, patient expectations, and policy changes – compounded by wasteful spending and outdated technology – AI offers a powerful opportunity to enhance revenue cycles, automate manual tasks, and enable providers to focus more on patient care.
The findings were explored at Waystar's True North conference, which brought together executives from large health systems and hospitals to small medical practices. Speakers discussed key topics at the heart of the Waystar and Modern Healthcare report, highlighting the increasing adoption of AI and the acceleration of innovations reshaping healthcare payments.
Access the full report here.
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 18 of 22 institutions on the
Media Contact
Kristin Lee
kristin.lee@waystar.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-research-from-waystar-and-modern-healthcare-reveals-ais-transformative-impact-on-healthcare-payments-302257029.html
SOURCE Waystar
FAQ
What percentage of healthcare organizations reported positive ROI from AI in payments according to Waystar's study?
How many healthcare organizations plan to invest in AI in the near future based on Waystar's research?
What is the current adoption rate of AI platforms in healthcare payments according to Waystar's study?
What percentage of healthcare organizations plan to invest in generative AI according to Waystar's research?
