About Waystar
Waystar simplifies healthcare payments through its cloud-based platform, which unifies various payment processes for healthcare providers. The platform streamlines workflows, making it easier for providers to manage their financial operations and enhances the transparency of the financial experience for patients. With over 450,000 providers, 750 health systems, and 5,000 health plans using Waystar, the platform integrates seamlessly with major healthcare information systems (HIS) and practice management systems. Unlike many competitors, Waystar focuses on creating a comprehensive solution that addresses the complexities of healthcare payments, aiming to improve financial outcomes for providers and clarity for patients.
Louisville, KentuckyHeadquarters
2000Year Founded
$57.5MTotal Funding
IPOCompany Stage
Enterprise Software, Financial Services, HealthcareIndustries
501-1,000Employees
Benefits
401(k) matching: We’re proud to help our team members build their financial futures with a range of investment options available.
Career mobility: We’re all about professional growth. In 2018, roughly 15% of our team members stepped into a new role within the company.
Waystar welcome: Our weeklong onboarding program positions introduces our company and leadership team and positions every new hire for success.
Family friendly: Waystar offers paid leave for maternity, paternity and adoption and prioritizes work-life balance for all team members.
Risks
Increased competition from Change Healthcare may impact Waystar's market share.
Over-reliance on AI could pose risks if systems fail or are compromised.
Interest rate fluctuations could affect the cost-effectiveness of credit facility amendments.
Differentiation
Waystar has been Best in KLAS® claims clearinghouse since 2010.
Waystar's platform integrates with all major HIS and practice management systems.
Waystar's AI capabilities enhance payment speed, accuracy, and efficiency.
Upsides
Waystar secured $9 million in business from competitors after Change Healthcare's outage.
Waystar's IPO in June 2024 reduced debt and improved financial flexibility.
Waystar's AI-driven solutions align with the industry's shift towards patient-centric care.
Funding
Total raised$57.50 M
StageIPO
IPO
5/31/2024$968