Waystar Launches Innovative Automation for Healthcare Providers
Waystar Unveils Auth Accelerate Solution for Healthcare Providers
Waystar, a prominent player in healthcare payment software, continues to evolve by introducing its innovative Auth Accelerate solution. This latest launch enhances automation capabilities to significantly streamline the prior authorization process, providing a much-needed remedy for healthcare providers facing the ongoing challenges of authorization.
Prior Authorization Challenges in Healthcare
Prior authorizations have long been a source of frustration for healthcare providers. Many providers are increasingly overwhelmed by the complex rules and ongoing status checks needed to secure payer approval. Recent surveys indicate that automation for patient access, particularly in prior authorizations, is now viewed as the top investment priority for healthcare revenue cycles.
The rigorous process often consumes substantial time; on average, it takes approximately 24 minutes to navigate a single authorization. Given that tens of millions of authorizations are processed yearly, it's evident how this labor-intensive task continues to create significant administrative burdens within the healthcare system. Alarmingly, a sizable portion of physicians report that prior authorization has directly led to serious adverse events for their patients.
How Auth Accelerate Addresses Automation Needs
Waystar’s Auth Accelerate solution is designed with the aim of revamping these cumbersome workflows, automating every aspect of the authorization submission process. By utilizing data from existing clients, the solution boasts a remarkable reduction in submission times by 70%, while simultaneously increasing auto-approval rates to a high 85%. This progress not only alleviates a major administrative burden but also improves productivity across healthcare practices.
Transforming the Patient Experience
Moreover, this advanced automation directly contributes to shortening the wait time for payer approvals. Previously, healthcare providers endured an estimated wait time of over four days; with Auth Accelerate, this duration can be reduced to just one day or even less. Such improvements fundamentally transform how providers to interact with patient care by enabling them to devote more attention to their patients rather than administrative duties.
"Providers consistently identify prior authorization as a vital challenge that strains their resources and impacts patient care," commented Matt Hawkins, CEO of Waystar. His insights reflect the pressing need for innovative solutions that facilitate faster, more accurate payments while ensuring a positive experience for patients navigating the often complex financial aspects of healthcare.
Partnerships Driving Successful Implementation
One of the pioneering organizations to embrace Waystar Auth Accelerate is Prisma Health, the largest healthcare provider in its region, serving over 1.6 million patients annually. Patrick Griffin, the Executive Director of Revenue Cycle at Prisma Health, emphasized the significance of collaborating with industry partners to develop groundbreaking solutions that enhance care delivery.
With increasing reliance on Waystar’s cloud-based software platform, healthcare providers can effectively boost operational efficiency and financial performance. The success of providers using Waystar’s services not only showcases its impact but also builds a community around enhanced patient-provider interactions.
The Future of Healthcare Automation with Waystar
In January, Waystar's Patient Access solutions received recognition as Best in KLAS, a testament to their commitment to quality and effectiveness. Building on this momentum, they recently introduced Waystar AltitudeAI™, a comprehensive suite of AI-driven features for providers. Among these, AltitudeCreate™ stands out as a new generative AI tool that aims to assist in appealing denied claims, providing yet another layer of support for healthcare entities.
About Waystar
Waystar is dedicated to revolutionizing healthcare payments, empowering providers to focus on patient care while optimizing financial outcomes. The company seamlessly integrates into the operations of approximately 30,000 clients and more than 1 million distinct providers, including many top-ranked institutions recognized by U.S. News. With over $1.8 trillion in annual gross claims processed, Waystar's solutions strive to simplify the healthcare payment process for both providers and their patients.
Frequently Asked Questions
What is Waystar's Auth Accelerate solution?
Auth Accelerate is an automated solution designed to streamline the prior authorization process, reducing submission times and improving approval rates.
How much time does Auth Accelerate save?
The solution saves providers up to 70% of the time traditionally required for authorization submissions.
What impact does prior authorization have on patient care?
Delays in prior authorization can lead to adverse events, with many physicians reporting these delays affect patient treatment and care.
Who is the CEO of Waystar?
The CEO of Waystar is Matt Hawkins, who highlights the importance of focusing on patient care through innovative solutions.
How does Waystar enhance operational efficiency?
Waystar’s cloud-based platform drives efficiency and financial performance by automating key healthcare processes like prior authorizations.
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