Top 8 Waystar Alternatives & Competitors 2024

Revenue cycle management (RCM) platforms help healthcare systems track and manage patient revenue, from initial encounters or appointments to final payments. They use state-of-the-art technology and human experts to detect underpayments and confirm patients' eligibility for benefits.

One of the most popular RCM platforms is Waystar. Intuitive, powerful, and flexible, Waystar offers many RCM functions, including predictive analysis for eligibility verification and machine learning for spotting and fixing coding mistakes. However, it may not be the best solution for all providers.

If Waystar isn't a good fit for your healthcare system or organization, keep reading to learn about the top eight alternatives to Waystar.

What is Waystar, and what market do they serve?

Waystar was founded in 2017 on the legacy of two long-time RCM leaders, ZirMed and Navicure. Waystar is committed to delivering exceptional client support and the best RCM technology on the market. The company is well-known for running one of the most recognized claims clearinghouses.

Waystar's RCM offers many intuitive features, including:

• Patient Payment Estimator: This module encourages patients to make upfront payments by generating Good Faith Estimates (GFEs). It can also create other documents to outline estimated medical service terms and costs.
• Revenue Capture: This suite provides access to a dedicated team of certified coding experts to help you identify and correct coding errors. It also uses machine learning and predictive analytics to help your team recover more revenue and save work hours.
• Financial Clearance: This tool gives providers visibility into patients' propensity to pay and helps patients understand their financial duties. It uses artificial intelligence (AI) and RPA technology to cut denials in half, double staff productivity, and increase reimbursements. 
• Claim Management: Waystar's Claim Management is an award-winning suite of tools for preventing rejections and denials before they happen, simplifying attachments, and automating claim monitoring. It is the only platform allowing you to work on government and commercial claims in one place.

Waystar is designed for hospitals, physical and special practices, and health systems. This includes clinics for the following:

• Laboratories
• Skilled nursing
• Durable equipment
• Ambulatory surgery
• Hospice care
• Home health services

List of Top Waystar Alternatives

• MD Clarity
• TriZetto
• Change Healthcare
• DrChrono
• TruBridge
• Infinx
• Dentrix
• StrataPT

Top 8 Alternatives & Competitors to Waystar

Here's a summary of the top eight Waystar competitors.

MD Clarity

Description

MD Clarity was founded in 2010, seven years after Waystar was founded. As a socially-conscious company, MD Clarity seeks to boost patient experience and healthcare providers' bottom line by automating payer underpayment detection, patient cost estimates, and contract optimization in one place. It caters to various healthcare institutions, including health systems, ambulatory surgical centers, and managed service organizations.

Features in common with Waystar

MD Clarity offers essentially the same features as Waystar. Here's a breakdown of MD Clarity's tools:

• Clarity Flow: This tool encourages patients to make upfront payments by generating accurate out-of-pocket cost estimates. It can also auto-send patient cost estimates through letter, email, or text, and help providers produce No Surprises Act-compliant good faith estimates (GFE). It is MD Clarity's answer to Wasystar's Patient Payment Estimator. 
• Contract Analytics: This shares many similarities with Waystar's Financial Clearance. Besides telling you about your insurance contract performance, it can predict the impact of contract changes on cash flow. You can also use it to analyze payment contract performance and renegotiate terms.
• RevFind: This tool resembles Waystar's Claim Management and Financial Clearance. It identifies underpayment patterns, set rates, delegate appeals, and view statuses in one place. It also analyzes payment contract performance and helps you negotiate better terms.

TriZetto

Description

TriZetto Provider Solutions was founded as Gateway EDI in 1984. After establishing 99% Club and processing its five millionth claim, it was bought by Cognizant in 2014. TriZettto offers enough products to build a custom system for your healthcare organization, including billing automation, claims management, and payment processing.

Features in common with Waystar

Like Waytar, TriZetto offers customer-focused products for simplifying medical practice management. Here are some features that resemble Waystar's offerings:

• Claims management solutions: These tools reduce rejection rates, securely send claims transactions with an EHNAC-accredited organization, automate claim status inquiries, and easily trace claims from submission to payment.
• Patient engagement services: These solutions can be used to initiate conversations about eligibility and financial responsibility while reducing any barriers that could potentially impact patient outcomes. Additionally, you can utilize these tools to gather more upfront information.
• Tools for managing denials and contracts: These TriZetto services and products boost earnings and remove administrative hassles by automating the identification of professional and institutional underpayments and denials, optimizing operations with key business analytics and intelligence, and streamlining recovery with customized payer follow-up and appeal documentation submission.

Ratings

TriZetto has a rating of 4.3/5 stars on G2.

Change Healthcare

Description

Change Healthcare Inc. was called Emdeon before 2015. Like the other companies on this list, it provides payment and revenue cycle management software. Its mission is to deliver innovative solutions for improving the healthcare journey.

Features in common with Waystar

Change shares several features with Waystar. These include:

• Payment accuracy solutions: These are used to improve payment integrity, claims adjudication, and payment operations to cut costs and increase provider satisfaction. Like Waystar's Revenue Capture, these solutions can identify and fix coding mistakes, identify improper payments before they are paid, and maximize incremental savings.
• Data and analytics solutions: These are built to help you achieve clean claim rates. Examples include Market Insights, which provides comprehensive quarterly data about local, regional, and national trends in healthcare product and service utilization, population health, and financial services.
• Provider payment solutions: These tools streamline reimbursement by letting you connect to over 600,000 providers. They can also reduce administrative costs by simplifying 1099 processes for all payment types and providing a single system for your entire settlement and payment process.

Ratings

Change Healthcare has a score of 3.8/5 stars on G2.

DrChrono

Description

DrChrono is a digital health tech company that provides billing and software services on web- and cloud-based apps for patients and doctors. It offers a fully-integrated electronic medical record (EMR) platform tailored to your specialty and practice needs. Providers using DrChrono have experienced significant time and efficiency savings through pre-made specialty templates, custom forms, and charting shortcuts.

Features in common with Waystar

DrChrono has several features in common with Waystar, including:

• Medical Coding solutions: These function like Waystar's Revenue Capture. Besides providing tools for increasing your coding accuracy, DrChrono also provides access to its team of certified medical coders.
• Medical Billing: This module provides tools for improving clean claim rates, automating workflows, and reducing human errors. It also lets you view billing analytics and reports in an integrated billing dashboard. 
• Revenue Cycle Management: This software helps you maintain income stability and gives you more time to focus on patients. DrChrono's team of dedicated billing experts, certified medical coders, and in-house coding compliance officers can handle the complete lifecycle of your medical claims, resulting in faster turnaround on denials, improved clean claim rates, and improved cash flow. All rejections are submitted by DrChrono's expert billers within 48 hours. DrChrono's team has deep knowledge of rejections and works closely with insurance and clearinghouse companies.

Ratings

DrChrono has a rating of 3.6/5 stars on G2.

TruBridge

Description

TruBridge provides various RCM services and products to healthcare companies of all sizes. It acts as a trusted partner, collaborating with you to create custom plans for your unique needs. According to Black Book Research, TruBridge was the second-best provider for End-to-End Revenue Cycle Management (RCM) Software Technology and the fifth-best provider for RCM Outsourcing Services for hospitals with less than 100 beds.

Features in common with Waystar

TruBridge's RCM suite is designed to boost performance throughout the patient journey, from registration to payment. It includes several features in common with Waystar, including:

• Medical Coding Service: This solution is designed to help you accurately assign the correct codes to medical services and procedures for billing and reimbursement. It is offered as a partial or full outsourcing solution.
• Patient Liability Estimates (PLE): This lets you accurately determine patient financial responsibility before service delivery and create PLEs, TruBridge's answer to GFEs.
• Eligibility Verification: This feature can help you verify patient insurance coverage, ensure that services rendered are medically necessary, and check for pre-existing conditions. It can reduce claim denials and boost reimbursements by spotting and fixing coverage issues early on.
• Denial and Audit Management: This software suite offers efficient workflow management tools that can help identify and resolve audited and denied claims. Utilizing this module can significantly increase productivity, expedite payment processes, and minimize manual labor.

Ratings

TruBridge has a rating of 3.4/5 on G2.

Infinx

Description

Infinx Healthcare helps healthcare providers overcome revenue cycle challenges by leveraging intelligence and automation to increase reimbursements. Like many other companies on this list, Infinx uses artificial intelligence and human experts.

Features in common with Waystar

Infinx has several features in common with Waystar, including:

• Medical Coding Solutions: Infinx's coding experts can boost bottom-line revenue by investigating and preventing coding denials. 
• Prior Authorization Solutions and Financial Clearance: Like Waystar's Financial Clearance, these tools streamline the entire patient access workflow by accelerating approvals. You can use the same dashboard for benefit checks, eligibility verifications, insurance discovery, CDSM consults, and patient out-of-pocket estimations.
• Account Receivable Optimizer (AROS): This reduces future denials through artificial intelligence and automation and maximizes reimbursements from denied claims and accounts receivable.

Ratings

Infinx has a score of 90.6 on KLAS Research. 

Dentrix

Description

Dentrix Dental Systems was the first practice management system to be approved for Windows 98. Over the years, Dentrix has invested heavily in research and development, enabling it to provide high-quality RCM products and services. Dentrix was specifically created for dental clinics.

Features in common with Waystar

Dentrix has several shared features with Waystar, including:

• Collection and billing tools: These tools speed up payment collection from patients and insurance carriers. With their assistance, you can efficiently handle credit and debit card payments, simplify electronic claim submissions, generate and transmit billing statements, and easily improve payment collection procedures.
• Clinical tools: These can be used for treatment planning, charting, and making progress notes. They integrate with your clinical tools and aggregate payer information in one centralized hub. You can also use these tools to view, record, and store data numerically or graphically.

Ratings

Dentrix has a rating of 4/5 stars on G2.

StrataPT

Description

StrataPT was founded in 2010 to help occupational, speech, and physical therapists. Since then, StrataPT has expanded to support healthcare practices nationwide. While most companies have outsourced their billing support and customer service overseas, 100% of StrataPT product development and customer service is performed by StrataPT employees in the United States. StrataPT takes pride in listening to the needs of its clients and works closely with its employees to deliver solid RCM solutions.

Features in common with Waystar

Like the other companies on this list, StrataPT's RCM solution shares several features with Waystar. These include:

• Online bill pay and patient statement clarity features: Use these to schedule real-time electronic statements for your clients and provide them with a user-friendly method to pay their invoices through email or text.
• StrataPT's insurance credentialing service: StrataPT provides a comprehensive all-payer credentialing service that conducts thorough analyses of local payers, submits payer applications, and diligently follows up with payers.
• Automated Medicare eligibility features: This shows a patient's Medicare eligibility and benefits information within seconds, eliminating the need to log into Medicare's portal.

Ratings

StrataPT has received a rating of 4/5 stars on Software Advice and 5/5 stars on Software Finder.

See the competition in action

If you're searching for EMR or RCM software like Waystar, check out MD Clarity. MD Clarity can enhance your bottom line and patient experience by streamlining patient cost estimates, optimizing contracts, and detecting payer underpayments all in one central location. With MD Clarity's Clarity Flow, Contract Analytics, and RevFind, you'll have access to nearly all of the same capabilities as Waystar's Revenue Capture, Financial Clearance, and Claim Management.

Interested in experiencing how MD Clarity compares to Waystar? Book a personalized demo today.

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