Waystar Named Top Healthcare Payments Software Platform by MedTech Breakthrough

Rhea-AI Summary

Waystar (Nasdaq: WAY), a healthcare payment software provider, has been named Best Overall Healthcare Payments Solutions Provider by MedTech Breakthrough for the fourth consecutive year. The company's AI-powered platform, including Waystar AltitudeAI™, has demonstrated significant efficiency improvements, reducing denial appeal times by 70% and cutting denial-prevention workflows from three days to three minutes.

Waystar's recent achievements include ranking #1 in eight out of 18 AI categories by Black Book Market Research™, receiving recognition in two revenue cycle categories by Best in KLAS®, and being included in Forbes' inaugural Most Trusted Companies in America list. The company's software solutions serve over one million healthcare providers nationwide, focusing on reducing administrative waste and streamlining healthcare payments.

Positive

• Recognition as Best Overall Healthcare Payments Solutions Provider for 4th consecutive year
• Platform reduces denial appeal times by 70%
• Denial-prevention workflows cut from 3 days to 3 minutes
• Ranked #1 in 8/18 AI categories by Black Book Market Research
• Serves over 1 million healthcare providers nationwide

Negative

• None.

News Market Reaction – WAY

-1.19%

1 alert

-1.19% News Effect

On the day this news was published, WAY declined 1.19%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Recognition underscores the differentiated value of Waystar's software platform in addressing nearly half a trillion dollars in administrative waste

LEHI, Utah and LOUISVILLE, Ky., May 8, 2025 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced MedTech Breakthrough named it Best Overall Healthcare Payments Solutions Provider. This marks the fourth consecutive year that MedTech Breakthrough recognized Waystar, previously awarding the company the Healthcare Payments Innovation Award and Best New Technology Solution for Healthcare Payments.

As healthcare providers grapple with enormous administrative waste and fragmented technologies, Waystar continues to strengthen its position as an industry leader in AI and advanced automation. Recent milestones include the launch of Waystar AltitudeAI™, a comprehensive suite of AI-powered capabilities, and the introduction of first-to-market generative AI solutions at its Innovation Showcase. These innovations elevate productivity with demonstrable efficiency gains, including reducing denial appeal times by 70% and cutting denial-prevention workflows from three days to three minutes.

"We're honored that MedTech Breakthrough has recognized us for the fourth consecutive year," said Matt Hawkins, Chief Executive Officer of Waystar. "We're proud to deliver transformational software that empowers more than one million providers nationwide. We remain committed to simplifying healthcare payments through thoughtful innovation—empowering providers and enabling them to focus on delivering exceptional patient care."

This recognition follows recent notable accolades underscoring Waystar's leadership in healthcare payments, including ranking as the #1 healthcare payments solution in eight out of 18 AI categories by Black Book Market Research™, receiving recognition by Best in KLAS® across two revenue cycle categories, and earning inclusion in Forbes' inaugural Most Trusted Companies in America.

The MedTech Breakthrough Awards program is 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 markets. The mission of the MedTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work, and success in a range of health and medical technology categories, including Telehealth, Clinical Administration, Patient Engagement, Electronic Health Records (EHR), Virtual Care, Medical Devices, Medical Data and Privacy, and more.

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

Investor Contact
Sandy Draper
investors@waystar.com
502-238-9511

View original content to download multimedia:https://www.prnewswire.com/news-releases/waystar-named-top-healthcare-payments-software-platform-by-medtech-breakthrough-302450515.html

SOURCE Waystar

FAQ

What awards did Waystar (WAY) receive from MedTech Breakthrough in 2025?

In 2025, Waystar received the Best Overall Healthcare Payments Solutions Provider award from MedTech Breakthrough, marking their fourth consecutive year of recognition.

How does Waystar's AltitudeAI improve healthcare payment processing efficiency?

Waystar's AltitudeAI reduces denial appeal times by 70% and cuts denial-prevention workflows from three days to just three minutes through AI-powered automation.

What is Waystar's (WAY) market reach in healthcare payments?

Waystar serves more than one million healthcare providers nationwide with its healthcare payment software solutions.

What recent industry recognitions has Waystar (WAY) received besides MedTech Breakthrough?

Waystar ranked #1 in eight AI categories by Black Book Market Research, received recognition in two revenue cycle categories by Best in KLAS, and was included in Forbes' inaugural Most Trusted Companies in America list.