Company Announcements

Study finds AI is delivering double-digit gains in revenue cycle performance, becoming indispensable to healthcare providers' success

LEHI, Utah and LOUISVILLE, Ky., June 23, 2025 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced the results of a commissioned study conducted by Forrester Consulting on behalf of Waystar revealing that AI is becoming mission-critical in revenue cycle management (RCM) because of its proven impact and measurable return on investment.

The study, "AI in Healthcare Payments Software: A Strategic Imperative," shows that 82% of healthcare leaders now consider AI integral to their RCM operations, with 70% identifying it as a top organizational priority. The study also found that AI is delivering significant improvements in key revenue cycle metrics, including claim accuracy, denial prevention, workforce efficiency, and payment speed, signaling a sharp acceleration in healthcare's AI adoption curve.

"This research reinforces what we're seeing across the industry. AI is no longer theoretical and is fundamentally reshaping how providers operate," said Matt Hawkins, CEO of Waystar. "As healthcare organizations navigate growing complexity, the study shows they're relying on proven and trusted RCM software providers to deploy AI."

Key findings include:

• AI is yielding 13-37% improvements in high-impact revenue cycle areas. These capabilities consistently exceed expectations for enhancing performance and automating critical processes, such as claim follow-up, payment accuracy, denial prevention, and workforce efficiency.
• Trust in AI is accelerating, with 60% of decision-makers reporting that their confidence has increased since implementation. Firsthand experience is quickly building trust in AI's accuracy and its ability to transform the revenue cycle. The majority of healthcare decision makers who were initially skeptical now say their concerns have significantly decreased or disappeared.
• 82% of healthcare leaders say AI is now an integral part of their revenue cycle operations, reflecting growing trust and proven impact. Nearly 70% view AI as a high or critical organizational priority, and 60% plan to increase AI investment, underscoring its strategic role in driving payment performance and process transformation.
• The majority of healthcare leaders are turning to existing RCM software partners for AI capabilities, citing faster time to value, proven integration, and established data security protocols. Onboarding new-to-market AI vendors remains the least common path, highlighting the preference for trusted, integrated platforms.

Based on responses from more than 300 healthcare leaders, the study shows that providers are prioritizing strategic AI implementation, especially in payer-facing workflows such as prior authorizations and denial appeals. The research points to a broader shift as AI delivers measurable impact across organizations of all sizes, accelerating automation, enhancing analytics, improving accuracy, and driving stronger returns on investment.

To view the full study, visit waystar.com/aistudy.

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

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SOURCE Waystar