NEW YORK, June 27, 2024 (Newswire.com) - Black Book Research has declared Waystar the top vendor for Revenue Cycle Management Software Technology, recognized as the best by clients from large hospitals, academic medical centers, health systems, chains, and IDNs. This accolade comes from the 2024 RCM survey responses of hospital executives, financial system users, and business office leaders representing 680 inpatient organizations.
Between Q4 2023 and Q2 2024, the Black Book Research financial digital transformation software survey rigorously evaluated 307 vendors across various finance functional categories. This assessment drew on feedback from 6,195 verified client users to determine the top-rated solutions vendors.
In a competitive landscape filled with hundreds of core and niche Revenue Cycle Management (RCM) solution vendors, the latest Black Book survey respondents assessed various healthcare provider technology tools. Waystar has consistently earned top customer satisfaction ratings in Black Book's annual surveys for over a decade, maintaining its premier status since 2012.
"Waystar excels in revenue cycle management by leveraging AI and ML for predictive analytics to forecast patient payment behavior, identify denials, and optimize claims," said Doug Brown, President of Black Book Research. "Their enhanced data analytics tools ensure revenue integrity with accurate billing and compliance, while patient engagement features like online payment portals, real-time claim updates, and personalized payment plans improve communication and transparency. By emphasizing interoperability, Waystar seamlessly integrates with EHRs to streamline workflows. Additionally, they support value-based care with tools for managing bundled payments and tracking quality metrics, and their advanced security features ensure data protection and HIPAA compliance. These comprehensive capabilities have secured Waystar's top client rating for the ninth consecutive year in end-to-end RCM services."
Waystar achieved the highest scores in 12 out of 18 key performance indicators for revenue cycle management, including Strategic Alignment of Client Goals, Innovation, Training, Trust, Transparency, Accountability, Breadth of Offerings, Deployment and Implementation, Customization, Brand Image and Marketing Communications, Marginal Value Adds, Viability and Managerial Stability, Support and Customer Care, and Best-of-Breed Technology and Process Improvement.
Full results can be found at https://blackbookmarketresearch.com/finance-revenue-cycle-management.
About Black Book
Black Book conducts crowdsourced polls and surveys with healthcare executives and front-line users about their current technology trends, and services partners and awards top-performing vendors' recognition based on performance using indicators of client experience, loyalty, and customer satisfaction. Black Book™, along with its founder, management, and staff, holds no financial interest in any of the vendors, including Waystar, covered in its RCM surveys. Black Book publishes the results of satisfaction and client experience rankings and shares them with the media before notifying the vendors. It does not solicit participation fees, review fees, inclusion or briefing charges, or vendor collaboration during its client polls. For methodology, auditing, resources, comprehensive research, and ranking data, see www.blackbookmarketresearch.com or contact us at [email protected].
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Original Source: Waystar Secures Top Spot for End-to-End Revenue Cycle Management Solutions for Hospitals, IDNs, and Health Systems in 2024 Black Book Survey
