Waystar partners with MEDITECH

Considering that administrative expenses negatively affect the US healthcare system, partnerships between companies like Waystar and MEDITECH intend to reduce the issues providers and patients face. The Journal of the American Medical Association mentions that the annual cost of wasteful spending in healthcare ranged from USD 760 billion to USD 935 billion in recent years, which represents approximately 25% of the total healthcare spending. Out of the total amount, it is estimated that USD 350 billion is administrative-related, including waste associated with healthcare payments.

Waystar developed its cloud-based platform to address and minimise these issues by using artificial intelligence (AI) and advanced analytics to automate payment workflows, improve claim and billing accuracy, and reduce labour costs. By merging these capabilities with MEDITECH’s Expanse HER, healthcare organisations are set to be able to simplify complex processes, enhance productivity, and increase financial visibility. According to Waystar’s officials, both companies are committed to advancing the healthcare landscape via digital innovation. By working together with MEDITECH, Waystar can expand the reach of its platform, furthering its objective of simplifying healthcare payments. The company expressed its enthusiasm over being able to introduce its payment technology to MEDITECH organisations to support them in getting paid more efficiently, accurately, and conveniently.

Furthermore, as Waystar entered MEDITECH’s Alliance program, the company is set to provide clients with an additional integrated solution and automation of payment workflows. MEDITECH’s platform, Expanse, was designed to foster flexibility and improvement and incorporate solutions like Waystar that enhance or extend the EHR. Waystar’s software is developed to simplify healthcare payments so that providers can prioritise patient care and optimise their financial performance. Currently, the company serves nearly 30,000 clients, with its platform annually processing over 4 billion healthcare payment transactions. The company is committed to improving healthcare payments so that providers can focus on their patients and communities.

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