Waystar Earns Top Honors at 2025 Stevie® Awards for AI Innovation and Healthcare Leadership
Waystar (Nasdaq: WAY), a leading provider of healthcare payment software solutions, announced that it has been recognized with multiple prestigious Gold Stevie® Awards in the 2025 International Business Awards®. The company was named Healthcare Company of the Year and received the award for Top-Ranked AI Software Platform for its groundbreaking Waystar AltitudeAI™ solution. In addition, Waystar’s Auth Accelerate platform was honored for transforming prior authorization processes through automation and measurable client success.
These accolades underscore Waystar’s position as one of the most innovative players in the U.S. healthcare technology market, where rising administrative costs, labor shortages, and process inefficiencies continue to challenge providers, payers, and patients alike. By leveraging artificial intelligence (AI) and automation across the healthcare payment ecosystem, Waystar is addressing some of the industry’s most pressing financial and operational hurdles.
Tackling a $440 Billion Challenge
The U.S. healthcare system spends more than $440 billion annually on administrative tasks, according to industry estimates. A significant portion of this cost burden stems from claim denials and prior authorizations—two of the most labor-intensive and time-consuming processes faced by hospitals, health systems, and physician practices. These workflows often require countless hours of manual intervention, clinical documentation, and repetitive back-and-forth communications between providers and payers.
Waystar has long positioned itself as a pioneer in streamlining healthcare payments. By embedding AI-driven tools and automation into its platform, the company is creating new efficiencies that not only save providers money but also improve the speed and accuracy of payments. Its growing portfolio of AI-powered solutions is designed to reduce administrative strain while giving healthcare professionals more time to focus on patient care.
Launch of Waystar AltitudeAI™
In 2025, Waystar officially launched Waystar AltitudeAI™, a comprehensive suite of AI-powered capabilities designed to enhance healthcare payment workflows. This platform represents a major step forward in combining advanced automation with deep healthcare domain expertise.
One of the standout applications of AltitudeAI™ is in Denial and Appeal Management. Denials are a persistent problem for healthcare providers, often leading to delayed payments, increased costs, and reduced cash flow. Waystar AltitudeAI™ introduces industry-first features that analyze denials, identify patterns, and automate responses with exceptional accuracy. According to the company, its clients have experienced:
- 70% increase in appeal productivity, enabling staff to handle more cases with less effort.
- Double-digit improvements in overturn rates, resulting in higher success when contesting denied claims.
- Workforce efficiencies equivalent to nearly 10 full-time employees for a mid-size health system.
By scaling these capabilities across the healthcare ecosystem, Waystar is giving providers tools to recover lost revenue faster and at lower cost, all while reducing burnout for billing and administrative staff.
Strengthening Strategy Through Acquisition
Waystar’s recognition in the 2025 Stevie® Awards comes during a pivotal year for the company’s growth and innovation strategy. Earlier this year, Waystar announced a definitive agreement to acquire Iodine Software, a leader in AI-powered clinical intelligence.
This acquisition, once completed, will bring together two organizations at the forefront of healthcare AI—Waystar in financial operations and Iodine in clinical data intelligence. By integrating Iodine’s technology, Waystar expects to strengthen its ability to simplify healthcare payments end-to-end, bridging the gap between clinical documentation and financial outcomes. The move reflects Waystar’s broader mission to use AI not just as a buzzword, but as a tangible driver of measurable results in healthcare delivery and payment.
Breakthrough in Prior Authorization with Auth Accelerate
Another solution honored at the Stevie® Awards is Auth Accelerate, Waystar’s groundbreaking platform designed to streamline prior authorizations. In the U.S., more than two billion prior authorization requests are processed annually. These approvals—required by payers before patients can receive certain treatments, medications, or procedures—are widely cited as one of the most frustrating pain points in healthcare.
Traditionally, prior authorizations involve manual paperwork, phone calls, and lengthy delays that can compromise patient care. With Auth Accelerate, Waystar has automated this end-to-end process, using AI to submit requests, track progress, and secure approvals without the need for manual intervention.
The platform has achieved industry-leading auto-approval rates of over 90%, a breakthrough that allows providers to operate with greater efficiency and patients to receive care faster. For a typical provider organization, these gains are the equivalent of freeing up the workload of a dozen or more full-time employees—a critical advantage amid ongoing labor shortages across the healthcare sector.
Leadership Perspective
Waystar’s Chief Executive Officer, Matt Hawkins, emphasized the company’s commitment to using AI to deliver measurable return on investment (ROI) and real-world impact.
“Waystar is honored to receive top distinctions for technology leadership in AI transformation,” said Hawkins. “With innovations like Waystar AltitudeAI™ and Auth Accelerate, we demonstrate how AI and advanced automation can deliver strong ROI in healthcare—empowering providers to redirect resources toward patient care.”
His remarks reflect a growing industry trend: the recognition that AI is not just about efficiency, but about enabling better healthcare experiences by allowing clinicians and staff to focus less on bureaucracy and more on people.
A Growing Track Record of Recognition
The Stevie® Awards add to Waystar’s rapidly expanding list of national and industry honors. In recent years, the company has been consistently acknowledged for both innovation and trustworthiness, including:
- Forbes’ Most Trusted Companies in America
- MedTech Breakthrough Award for top healthcare payments software platform
- Two Best in KLAS® honors, recognizing excellence in healthcare IT solutions
These accolades highlight Waystar’s ability to maintain leadership across both technology innovation and client satisfaction.
