Waystar Named Healthcare Company of the Year and Top-Ranked AI Software Platform in the 2025 Stevie® Awards

Rhea-AI Summary

Waystar (Nasdaq: WAY), a healthcare payment software provider, has secured multiple Gold Stevie® Awards in 2025, including Healthcare Company of the Year and Top-Ranked AI Software Platform for Waystar AltitudeAI™. The company's Auth Accelerate solution achieved industry-leading auto-approval rates exceeding 90% for prior authorizations.

Waystar AltitudeAI™, launched in 2025, has demonstrated significant impact with a 70% increase in appeal productivity and efficiency gains equivalent to 10 full-time employees for mid-size health systems. The company also announced plans to acquire Iodine Software to enhance its AI capabilities in clinical intelligence.

Positive

• Achieved over 90% auto-approval rates for prior authorizations through Auth Accelerate
• 70% increase in appeal productivity through Waystar AltitudeAI™
• Strategic acquisition of Iodine Software to expand AI capabilities
• Multiple prestigious awards including Healthcare Company of the Year
• Efficiency gains equivalent to 10+ full-time employees for healthcare systems

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• None.

Recognitions underscore breakthrough innovations, meaningful client outcomes at scale, and leadership driving healthcare's AI transformation

LEHI, Utah and LOUISVILLE, Ky., Aug. 25, 2025 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced it earned multiple Gold Stevie® Awards in the 2025 International Business Awards®, including Healthcare Company of the Year and Top-Ranked AI Software Platform for Waystar AltitudeAI™. Waystar's Auth Accelerate solution also received top honors for advancing prior authorization automation with breakthrough innovation and proven client impact.

The U.S. healthcare industry incurs more than $440 billion in administrative costs annually, with claim denials and prior authorizations among the most resource-intensive challenges. Waystar's pervasive use of AI across its platform is transforming these processes, driving automation, accuracy, and results at scale.

In 2025, Waystar launched Waystar AltitudeAI™, a comprehensive suite of AI-powered capabilities that elevate productivity and accuracy in healthcare payments. In Denial and Appeal Management, Waystar AltitudeAI™'s industry-first capabilities have driven a 70% increase in appeal productivity and double-digit improvements in overturn rates, freeing capacity equal to nearly 10 full-time employees for a mid-size health system. Waystar also advanced its growth and AI strategy with a definitive agreement to acquire Iodine Software, a leader in AI-powered clinical intelligence, reinforcing its mission to simplify healthcare payments.

Waystar also debuted Auth Accelerate in 2025, which earned multiple recognitions for innovation and client outcomes. Addressing the more than two billion prior authorizations occurring annually, the solution automates end-to-end submissions and achieves industry-leading auto-approval rates of over 90%. For providers, this efficiency is equivalent to the capacity of more than a dozen full-time employees.

"Waystar is honored to receive top distinctions for technology leadership in AI transformation," said Matt Hawkins, Chief Executive Officer of Waystar. "With innovations like Waystar AltitudeAI™ and Auth Accelerate, we show how AI and advanced automation deliver strong ROI in healthcare—empowering providers to redirect resources toward patient care."

The Stevie® Awards, judged by more than 250 executives worldwide from a record 3,800 nominations, add to Waystar's growing national recognition. Recent accolades include Forbes' Most Trusted Companies in America, MedTech Breakthrough's top healthcare payments software platform, and two Best in KLAS® honors.

The International Business Awards are the world's premier business awards program. All individuals and organizations worldwide, including public and private, for-profit and non-profit, large and small, are eligible to submit nominations. The 2025 International Business Awards received nominations from organizations and individuals in 78 nations and territories.

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 U.S. News Best Hospitals list. Waystar's enterprise-grade platform annually processes over 6 billion healthcare payment transactions, including over $1.8 trillion in annual 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.

Media Contact
Kristin Lee
kristin.lee@waystar.com

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SOURCE Waystar

FAQ

What awards did Waystar (WAY) win in the 2025 Stevie Awards?

Waystar won multiple Gold Stevie® Awards including Healthcare Company of the Year and Top-Ranked AI Software Platform for Waystar AltitudeAI™. Their Auth Accelerate solution also received top honors.

What is the auto-approval rate for Waystar's Auth Accelerate solution?

Waystar's Auth Accelerate solution achieves industry-leading auto-approval rates of over 90% for prior authorizations.

How much did Waystar's AltitudeAI improve appeal productivity?

Waystar AltitudeAI™ drove a 70% increase in appeal productivity and achieved efficiency gains equivalent to nearly 10 full-time employees for a mid-size health system.

Which company is Waystar (WAY) acquiring to enhance its AI capabilities?

Waystar has announced a definitive agreement to acquire Iodine Software, a leader in AI-powered clinical intelligence.

How large is the administrative cost burden in U.S. healthcare that Waystar addresses?

The U.S. healthcare industry incurs more than $440 billion in administrative costs annually, with claim denials and prior authorizations being among the most resource-intensive challenges.