Waystar unveils transformative generative AI innovation to help providers recover billions of dollars tied to 450 million annual denied claims
Waystar (Nasdaq: WAY) has launched Waystar AltitudeAI™, featuring AltitudeCreate™, a groundbreaking generative AI technology designed to automate the appeal process for denied healthcare claims. The innovation aims to help providers recover substantial portions of payments from over 450 million annually denied claims.
The initiative addresses significant challenges in healthcare administration, where $350 billion is lost annually to administrative waste, and hospitals spend $20 billion yearly attempting to overturn denied claims. More than half of denied claims are ultimately overturned, but the process is traditionally time-consuming and error-prone.
Waystar's platform processes over five billion annual transactions for approximately 50% of patients nationwide. The company's AI capabilities are now unified under the Waystar AltitudeAI™ brand, focusing on improving healthcare payment efficiency and accuracy.
Waystar (Nasdaq: WAY) ha lanciato Waystar AltitudeAI™, che include AltitudeCreate™, una tecnologia innovativa di intelligenza artificiale generativa progettata per automatizzare il processo di appello per i reclami sanitari negati. L'innovazione si propone di aiutare i fornitori a recuperare porzioni significative dei pagamenti derivanti da oltre 450 milioni di reclami negati annualmente.
Questa iniziativa affronta sfide significative nell'amministrazione sanitaria, dove ogni anno si perdono 350 miliardi di dollari a causa di sprechi amministrativi, e gli ospedali spendono 20 miliardi di dollari ogni anno nel tentativo di ribaltare i reclami negati. Più della metà dei reclami negati viene alla fine ribaltata, ma il processo è tradizionalmente lungo e soggetto a errori.
La piattaforma di Waystar elabora oltre cinque miliardi di transazioni annuali per circa il 50% dei pazienti a livello nazionale. Le capacità di intelligenza artificiale dell'azienda sono ora unificate sotto il marchio Waystar AltitudeAI™, concentrandosi sul miglioramento dell'efficienza e dell'accuratezza nei pagamenti sanitari.
Waystar (Nasdaq: WAY) ha lanzado Waystar AltitudeAI™, que incluye AltitudeCreate™, una innovadora tecnología de inteligencia artificial generativa diseñada para automatizar el proceso de apelación de reclamaciones de salud denegadas. La innovación busca ayudar a los proveedores a recuperar porciones sustanciales de pagos de más de 450 millones de reclamaciones denegadas anualmente.
La iniciativa aborda desafíos significativos en la administración de la salud, donde se pierden 350 mil millones de dólares anualmente debido a desperdicios administrativos, y los hospitales gastan 20 mil millones de dólares al año intentando revertir reclamaciones denegadas. Más de la mitad de las reclamaciones denegadas son finalmente revertidas, pero el proceso es tradicionalmente largo y propenso a errores.
La plataforma de Waystar procesa más de cinco mil millones de transacciones anuales para aproximadamente el 50% de los pacientes en todo el país. Las capacidades de inteligencia artificial de la empresa ahora se unifican bajo la marca Waystar AltitudeAI™, enfocándose en mejorar la eficiencia y precisión de los pagos en salud.
웨이스타(Waystar) (Nasdaq: WAY)는 웨이스타 알티튜드AI™를 출시했습니다. 알티튜드크리에이트(AltitudeCreate™)는 거부된 의료 청구에 대한 항소 프로세스를 자동화하기 위해 설계된 혁신적인 생성형 AI 기술입니다. 이 혁신은 제공자가 매년 4억 5천만 건 이상의 거부된 청구로부터 상당한 부분의 지불을 회수하는 데 도움을 주는 것을 목표로 합니다.
이 프로젝트는 매년 3천5백억 달러가 관리상의 낭비로 인해 손실되는 건강 관리 관리에서 중요한 문제를 해결하고 있으며, 병원은 거부된 청구를 뒤집기 위해 매년 200억 달러를 지출하고 있습니다. 거부된 청구의 절반 이상이 궁극적으로 번복되지만, 전통적으로 이러한 과정은 시간이 많이 걸리고 오류가 발생하기 쉽습니다.
웨이스타의 플랫폼은 전국적으로 약 50%의 환자를 위해 매년 50억 건 이상의 거래를 처리합니다. 회사의 AI 기능은 이제 웨이스타 알티튜드AI™ 브랜드 아래 통합되어 의료 지급 효율성과 정확성을 향상시키는 데 집중하고 있습니다.
Waystar (Nasdaq: WAY) a lancé Waystar AltitudeAI™, qui comprend AltitudeCreate™, une technologie d'IA générative révolutionnaire conçue pour automatiser le processus d'appel des demandes de remboursement de santé refusées. Cette innovation vise à aider les prestataires à récupérer des montants substantiels de paiements provenant de plus de 450 millions de demandes de remboursement refusées chaque année.
Cette initiative répond à des défis importants dans l'administration de la santé, où 350 milliards de dollars sont perdus chaque année en gaspillage administratif, et les hôpitaux dépensent 20 milliards de dollars par an pour tenter de renverser les demandes refusées. Plus de la moitié des demandes refusées sont finalement annulées, mais le processus est traditionnellement long et sujet à des erreurs.
La plateforme de Waystar traite plus de cinq milliards de transactions annuelles pour environ 50% des patients à l'échelle nationale. Les capacités d'IA de l'entreprise sont désormais unifiées sous la marque Waystar AltitudeAI™, se concentrant sur l'amélioration de l'efficacité et de la précision des paiements dans le domaine de la santé.
Waystar (Nasdaq: WAY) hat Waystar AltitudeAI™ eingeführt, das AltitudeCreate™ umfasst, eine bahnbrechende generative KI-Technologie, die entwickelt wurde, um den Berufungsprozess für abgelehnte Gesundheitsansprüche zu automatisieren. Die Innovation zielt darauf ab, Anbietern zu helfen, erhebliche Teile der Zahlungen aus über 450 Millionen jährlich abgelehnten Ansprüchen wiederzuerlangen.
Das Vorhaben befasst sich mit erheblichen Herausforderungen im Gesundheitsmanagement, wo jährlich 350 Milliarden Dollar an verwaltungstechnischem Abfall verloren gehen und Krankenhäuser jährlich 20 Milliarden Dollar ausgeben, um abgelehnte Ansprüche anzufechten. Mehr als die Hälfte der abgelehnten Ansprüche wird letztendlich anerkannt, der Prozess ist jedoch traditionell zeitaufwändig und fehleranfällig.
Die Plattform von Waystar verarbeitet über fünf Milliarden jährliche Transaktionen für etwa 50% der Patienten im ganzen Land. Die KI-Fähigkeiten des Unternehmens sind jetzt unter der Marke Waystar AltitudeAI™ vereint, die sich auf die Verbesserung der Effizienz und Genauigkeit von Gesundheitszahlungen konzentriert.
- Launch of innovative AI technology to automate and streamline denied claims appeals process
- Platform processes 5 billion annual transactions covering 50% of US patients
- Addresses a $350 billion market opportunity in administrative waste
- Targets recovery from 450 million annually denied claims
- None.
Insights
Waystar's launch of AltitudeAI™ represents a significant technological breakthrough in healthcare revenue cycle management. The platform addresses a
The technology leverages Waystar's massive dataset of 5 billion annual transactions covering approximately 50% of U.S. patients, providing a robust foundation for AI model training. This extensive data infrastructure gives Waystar a considerable competitive advantage in the healthcare payments space. The autonomous generation of appeal letters through AltitudeCreate™ directly tackles one of healthcare's most resource-intensive administrative burdens.
Think of this as having an army of expert claims specialists working 24/7 without human limitations - but powered by AI that learns from millions of successful appeals. For healthcare providers, this translates to faster revenue recovery and reduced operational costs, potentially improving their financial health significantly.
This product launch positions Waystar (WAY) strategically in the growing healthcare AI market. With a market cap of
The business model implications are compelling:
- Recurring revenue potential from SaaS-based AI solutions
- High-margin business due to automated nature of the solution
- Scalable platform leveraging existing client base
Healthcare providers gain access to first-of-its-kind generative AI technology, leading to faster and more accurate payments
The
"More than half of denied claims ultimately get overturned, but the appeal process is time-consuming, complex, and error-prone for providers," said Matt Hawkins, Chief Executive Officer of Waystar. "Generative AI unlocks a new era of productivity and precision, transforming how the industry simplifies claims, appeals, and payment workflows. With Waystar's AI-powered software platform, providers of all sizes are better equipped to appeal denied claims with unprecedented efficiency, accuracy, and ease."
Waystar has a decade-long track record of deploying AI pervasively across its software platform to address administrative waste in healthcare. Building on this leadership position, Waystar now brings together its comprehensive AI capabilities under the Waystar AltitudeAI™ brand, enabling providers to achieve elevated productivity and precision in healthcare payments. Waystar AltitudeAI™ leverages insights from Waystar's extensive payments network, which facilitates over five billion annual transactions for approximately
Waystar will discuss its AI and innovation efforts in greater detail at the J.P. Morgan Healthcare Conference, where Matt Hawkins will present on January 13, 2025, at 11:15 a.m. PT.
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 16 of 20 institutions on the
Investor Contact
Sandy Draper
investors@waystar.com
Media Contact
Kristin Lee
kristin.lee@waystar.com
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SOURCE Waystar
FAQ
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