Healthcare revenue cycle management (RCM) software is designed to track and manage revenue streams throughout patient care. The goal is to streamline payments from insurance payers, government programs, patient payments, co-pays, and more. The easier the process, the better the cash flow and the more financial stability for a practice or clinic.
Waystar is one RCM software option among many. But what do customers say about the product? What are the pros and cons? These Waystar reviews break down the best and worst features.
What Is Waystar?
Waystar is a healthcare technology conglomerate that specializes in revenue cycle management software. The company was founded in 1999 as ZirMed and began operating under the Waystar name in 2018 after merging with Navicure.
Since then, Waystar has acquired several IT companies, including PARO, Ovation, Connance, Digitize, Recondo, eSolutions, and Patientco. With these technologies under its umbrella, Waystar now offers an all-in-one RCM solution.
The product features claim management, payment processing, insurance eligibility management, patient engagement, and many other functions. It is designed for hospitals, health systems, and physician and specialty practices. These include clinics for:
- Skilled nursing
- Ambulatory surgery
- Durable equipment
- Home health services
- Hospice care
The software aims to simplify patient payments and revenue management for physicians or clinics.
Waystar also operates a clearinghouse and provides clinics and physicians with faster payments. The clearinghouse software is built on Hubble, an AI and robot process automation (RPA) tool that combs payer data for benefits information.
Hubble automates the eligibility process and can help clinics quickly confirm expected costs for patients. Waystar software eliminates the manual insurance verification process and automatically finds, interprets, and verifies coverage. It then produces an estimate for the patient to review.
According to the company, its clearinghouse software reduces claims denials by 55% and provides accurate estimates 9 out of 10 times.
Waystar RCM Software
Waystar RCM software is a cloud-based platform with clearinghouse functions and a wide selection of tools to manage claims and speed up payments. The software uses AI and machine learning to predict and prevent claims denials and find underpayments or hidden coverage. It also uses automation to find coding mistakes and missed payments.
The software integrates payment processing with EHR and practice management systems. It automatically splits remittances between payers and auto-posts insurance or patient payments, reducing manual tasks. Automated workflows allow you to automatically register patients, send estimates and invoices, and collect payments.
Real Waystar Reviews From Customers
Customer reviews are a form of earned media and give potential buyers a snapshot of a product and customer service. Reviews are a gold mine for new leads and future sales if a company uses them correctly.
For the customer, reviews provide valuable insights into the strengths and weaknesses of a product and whether it will best serve their needs. Here are a few Waystar clearinghouse reviews and software reviews across platforms.
There are a total of 115 unique Waystar reviews on G2. The average rating is 4.5 out of 5. Overall, the software is easy to use and speeds up verification and payments. You can see all of your incoming payments at once with detailed reports, and they are posted automatically.
The software does have some drawbacks, though. Customers say Waystar rejection information is limited. You cannot access the details directly from the software, and the denial reasons are unclear or do not match the payer.
Many review comments also say the software is overwhelming to use, with too many alerts and click-throughs on loading. Some reviews say that the interface is cluttered and the editing functions are clunky. Customers also say the software is expensive, add-ons cost extra, and it’s hard to cancel the contract, leading to hidden fees.
Capterra, GetApp, and Software Advice
Waystar fares much the same on Capterra, GetApp, and Software Advice. These three platforms source the same reviews, which include a total of 196 unique reviews with an average rating of 4.5 out of 5.
According to reviews, Waystar's clearinghouse functions are its best features. It cuts out the manual verification process and helps you quickly correct claims on the spot, which saves a lot of time.
Similar to the complaints on G2, customers mention that the rejections and EOB statements are hard to decipher. While some say the software is easy to use, others say it is overwhelming and not user-friendly. Many customers report poor customer service as well.
Best Waystar Clearinghouse Reviews From Customers
The best Waystar reviews praise the clearinghouse functions. Customers feel this software is better than other options because it’s easy to use and gets faster payer responses. It also has a simple layout and plain language designed for non-IT staff.
Customers also say the electronic and automatic processes save significant time. Payers can send electronic remittance advice, benefit statements, and fund transfers so that billing staff does not need to process claims manually. Plus, they say payment turnaround time is faster.
Worst Waystar Client Reviews
The worst Waystar clearinghouse reviews suggest that customer service is a significant issue. They say that the service team doesn’t know how to fix problems and takes too long to get back to you with a solution. Some comments say support tickets went weeks without contact from Waystar.
Reviews also suggest Waystar is expensive and has significant hidden fees. If you send a claim, the software activates the provider, and you are automatically enrolled and billed. If you submit a claim by mistake, customer service takes too long to correct the issue.
Employee Reviews of Waystar
Organizations spend a lot of time and money on brand messaging. The goal is to communicate company values and curate specific ideas about the brand with the customer or the public. Employee reviews, however, give real insights into a company's culture and values. Here’s a look at what employees say about Waystar across a few platforms.
Waystar employees left 296 unique reviews on Glassdoor and gave the company an average rating of 4.3 out of 5. Employees also gave high ratings of the CEO and workplace: 93% approve of the CEO, and 88% would recommend Waystar to a friend.
Comments about an inclusive workplace with an excellent culture stand out in these reviews. Many employees say the company supports staff and encourages growth and work-life balance. Waystar offers attractive benefits and holiday schedules, as well as remote work positions.
However, reviews also suggest that wages at Waystar are low, and that while the company is generous with swag, it offers few monetary incentives. Other employee comments say the company is large and constantly acquiring other businesses, leading to redundant positions and job loss.
Employee reviews on Indeed have similar praise and complaints for Waystar. Employees left 18 reviews, rating the company an average of 3.1 out of 5.
Despite the limited number of reviews, employees say most of the same things on Indeed as they do on other platforms. Waystar has a fun and inclusive work culture with good management, but the pay is very low. Some comments suggest Waystar promises high wages during hiring but doesn’t follow through on those promises.
Positive Waystar Reviews From Workers
The best employee reviews of Waystar suggest that this company has a great workplace culture. Leadership is supportive and considerate with reasonable work expectations. The team is diverse in ethnicity, age, and culture.
Waystar also provides excellent training and opportunities for career advancement. While many say the pay is low, some say the company does pay annual cost-of-living adjustments.
Negative Waystar Review From Employees
By far, the biggest complaint from Waystar employees is the low pay. The worst review suggests Waystar promises high wages during hiring but then underpays, forcing employees to take another job. Employees feel they don't receive appropriate compensation for the work they do.
The worst reviews also suggest the organization is disorganized and chaotic because of its many acquisitions. The staff lack training and access to technical information and wait too long for answers to simple questions.
Comments also suggest sales reps don’t have the tools or training they need to do their job. They also complain that there is very little flexibility for the department.
Need an Alternative to Waystar?
MD Clarity is a cloud-based revenue cycle management software with many of the same features as Waystar. MD Clarity boosts the patient experience while providing transparency into healthcare payments and improving the revenue cycle.
Automated workflows allow you to project accurate out-of-pocket expenses, auto-send good faith estimates, and collect patient payments. Patients can select from payment plan options and pay a deposit or make other payments directly from the quote. Set your workflow to automatically assign denial and appeal tasks to staff and speed up collections.
MD Clarity also uses deep analytics to help you monitor contract performance, find payer underpayment trends, and compare performance across contracts. These insights give you data and leverage to negotiate better terms and improve revenue.
Not only does MD Clarity help healthcare organizations understand insurance claims, but it also makes coverage and payments easier for patients, providing a better patient experience that complies with the No Surprises Act.
For a better bottom line, faster payments, and practice compliance, choose MD Clarity. Request a demo today.