Business
Waystar expands authorization automation to address healthcare providers' top 2025 investment priority
Latest software innovation automates every step of the authorization submission process, reducing time by 70% and dramatically boosting auto-approval rates
About this update from Waystar Holding Corp.
[{"type":"text","content":"Latest software innovation automates every step of the authorization submission process, reducing time by 70% and dramatically boosting auto-approval rates \nLEHI, Utah, and LOUISVILLE, Ky., Feb. 28, 2025 /PRNewswire/ -- Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced the launch of its Auth Accelerate solution, a major expansion of its advanced automation capabilities designed to streamline the prior authorization process from start to finish.\n\n \n \n \n \n \n \n\n \nPrior authorizations pose significant challenges across the healthcare spectrum. In response, providers have made automation for patient access, including prior authorizations, their top investment revenue cycle priority for 2025, according to a recent third-party survey. Securing payer approval requires navigating complex rules and continuous status checks, consuming up to 24 minutes per authorization. With tens of millions of prior authorizations occurring each year, this labor-intensive process contributes to one of healthcare's top administrative burdens. A recent American Medical Association survey found that more than one in four physicians say prior authorization has led to a serious adverse event for a patient in their care, while 78% report that delays cause patients to abandon care.\nWaystar Auth Accelerate overhauls this traditionally time-consuming workflow by automating every step of the authorization submission process. Based on data from implemented clients, this innovation reduces submission times by 70% and boosts auto-approval rates to an impressive 85%. In doing so, Waystar Auth Accelerate directly tackles a key administrative burden for providers, boosting productivity, dramatically reducing patient care delays, and preventing labor-intensive denials. It also decreases the average wait time for payer approval by 75%, cutting the timeframe from more than four days to one day or less.\n\"Providers consistently identify prior authorization as a top challenge, noting its strain on resources and impact on patient care,\" said Matt Hawkins, Chief Executive Officer of Waystar. \"With advanced automation, Waystar Auth Accelerate streamlines this process, allowing providers to focus more on patients instead of administrative tasks. We remain committed to delivering meaningful innovations that help providers get ...