92% of leaders rank AI and advanced automation
as a key focus for overcoming industry challenges
Patient Access and Claim Management emerge as
the top RCM functions prioritized for automation investment
LEHI,
Utah and LOUISVILLE,
Ky., March 4, 2025 /PRNewswire/ -- Waystar
(Nasdaq: WAY), a provider of leading healthcare payment software,
today announced the results of a comprehensive Qualtrics market
survey identifying the top revenue cycle management (RCM) trends of
2025. The study surveyed 600 healthcare RCM, finance, and
technology leaders from provider organizations of all types and
sizes. The findings show that decision-makers are actively
prioritizing AI and advanced automation to address critical
challenges, with a focus on automation in patient access and claim
management.
Healthcare leaders face mounting pressure from rising
administrative costs, increasing claim denials, payer conflicts,
and cybersecurity threats. The research highlights a strong shift
toward strategic software investments that accelerate cash flow,
adapt to evolving payer policies, and optimize performance.
The top six trends for healthcare leaders in 2025 include:
- Expanding AI and generative AI investments to streamline RCM
operations: 92% of leaders indicate their top priority is to
invest in AI and advanced automation for RCM. Key focus areas for
investment, in order of priority, include patient access, claim
management, revenue integrity, patient financial care, denial
prevention, and denial management.
- Ensuring strong ROI from RCM software
investments: Leaders emphasize return on investment (ROI)
as a critical factor in their RCM purchasing decisions. Many
providers consider alternative vendors when their current solutions
underperform, citing low ROI as a core reason for switching
platforms.
- Safeguarding data against cybersecurity
breaches: Data security concerns with an existing vendor
rank as the second most important factor in switching RCM software,
following negative client support experiences. A strong focus on
data security also ranks as a top factor when evaluating new
revenue cycle software, reflecting the industry's focus on
protecting sensitive financial and patient information.
- Adopting end-to-end software platforms over point
solutions: In contrast to the historical reliance on
multiple siloed, non-integrated point solutions, more than 70% of
providers now work with one to two software partners for all RCM
needs. A 2024 study shows that 100% of leaders with
end-to-end software platforms see a positive return on investment,
which explains the industry's shift from point solutions toward a
single platform.
- Enhancing patient access to boost precision and prevent
denials: Hospitals and health systems spend nearly
$20 billion annually attempting to
overturn denied claims. Since 60% of denials stem from front-end
patient access errors, healthcare organizations are increasing
automation investments in financial clearance processes, such as
prior authorizations and eligibility verification. As a result,
Patient Access ranks as the top RCM automation investment priority,
ensuring upfront accuracy and preventing downstream errors.
- Strengthening cash flow with error-free claim
submissions: With claim denials up 20% and labor costs for
claims status inquiries rising 71% over five years, providers are
prioritizing automation in claim management to reduce errors and
optimize cash flow. By increasing these investments, providers
streamline claim submissions, track status in real-time, and
monitor claims more effectively.
"Healthcare leaders are clear on their investment priorities for
2025: AI and advanced automation are critical to improving
efficiency, accuracy, and security," said Matt Hawkins, Chief Executive Officer of
Waystar. "Waystar is focused on delivering AI-powered software that
maximizes return on investment for providers and simplifies
healthcare payments in an increasingly complex landscape."
Waystar will discuss these findings during the 2025 HIMSS Global
Healthcare Conference & Exhibition including at a panel on
Tuesday, March 4 at 10:15 a.m. PT at The Venetian, Level 3, San Polo
3504. Attendees can also visit Waystar at Booth 4643 throughout the
conference.
The full report is available at Waystar.com.
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
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SOURCE Waystar
