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Waystar Advances AI Leadership with Next-Generation Denial Prevention and Reimbursement Recovery Innovations

Core Insights - Waystar is addressing significant financial challenges in the healthcare sector, including $20 billion in denied claims and $17 billion in uncompensated care, by introducing AI-powered software innovations aimed at improving financial performance and resilience for healthcare providers [1][2]. Group 1: Financial Challenges - Healthcare providers are facing $20 billion annually in costs related to denied claims and $17 billion in uncompensated care due to lower patient collections [2]. - Eliminating manual steps in obtaining payer reimbursement could save the industry $2.6 billion [2]. Group 2: Waystar's Innovations - Waystar is launching the first scaled, AI-powered, end-to-end solution for denial appeals, significantly reducing the time required to create appeal packages from 38 hours to just 2 hours, which allows for a redeployment of resources [4]. - The new AI capabilities have enabled early adopters to overturn 40% more denials and improve pre-service patient payments from 17% to 40% of total payments, enhancing cash flow and reducing uncompensated care [5][4]. Group 3: Efficiency Gains - Waystar's platform delivers over 90% time savings across key capabilities, allowing healthcare providers to reclaim millions in revenue and free up resources equivalent to more than a dozen full-time employees [2]. - The AI technology reduces denial-prevention-related work from 133 hours to under 6 hours, achieving a 95% time savings [6]. Group 4: Market Position - Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, and processes over 6 billion healthcare payment transactions annually, including over $1.8 trillion in gross claims [8].