PR Newswire
92% of leaders rank AI and advanced automation as a key focus for overcoming industry challenges
Patient Access and Claim Management emerge as the top RCM functions prioritized for automation investment
LEHI, Utah and LOUISVILLE, Ky., March 4, 2025 /PRNewswire/ — Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced the results of a comprehensive Qualtrics market survey identifying the top revenue cycle management (RCM) trends of 2025. The study surveyed 600 healthcare RCM, finance, and technology leaders from provider organizations of all types and sizes. The findings show that decision-makers are actively prioritizing AI and advanced automation to address critical challenges, with a focus on automation in patient access and claim management.
Healthcare leaders face mounting pressure from rising administrative costs, increasing claim denials, payer conflicts, and cybersecurity threats. The research highlights a strong shift toward strategic software investments that accelerate cash flow, adapt to evolving payer policies, and optimize performance.
The top six trends for healthcare leaders in 2025 include:
- Expanding AI and generative AI investments to streamline RCM operations: 92% of leaders indicate their top priority is to invest in AI and advanced automation for RCM. Key focus areas for investment, in order of priority, include patient access, claim management, revenue integrity, patient financial care, denial prevention, and denial management.
- Ensuring strong ROI from RCM software investments: Leaders emphasize return on investment (ROI) as a critical factor in their RCM purchasing decisions. Many providers consider alternative vendors when their current solutions underperform, citing low ROI as a core reason for switching platforms.
- Safeguarding data against cybersecurity breaches: Data security concerns with an existing vendor rank as the second most important factor in switching RCM software, following negative client support experiences. A strong focus on data security also ranks as a top factor when evaluating new revenue cycle software, reflecting the industry’s focus on protecting sensitive financial and patient information.
- Adopting end-to-end software platforms over point solutions: In contrast to the historical reliance on multiple siloed, non-integrated point solutions, more than 70% of providers now work with one to two software partners for all RCM needs. A 2024 study shows that 100% of leaders with end-to-end software platforms see a positive return on investment, which explains the industry’s shift from point solutions toward a single platform.
- Enhancing patient access to boost precision and prevent denials: Hospitals and health systems spend nearly $20 billion annually attempting to overturn denied claims. Since 60% of denials stem from front-end patient access errors, healthcare organizations are increasing automation investments in financial clearance processes, such as prior authorizations and eligibility verification. As a result, Patient Access ranks as the top RCM automation investment priority, ensuring upfront accuracy and preventing downstream errors.
- Strengthening cash flow with error-free claim submissions: With claim denials up 20% and labor costs for claims status inquiries rising 71% over five years, providers are prioritizing automation in claim management to reduce errors and optimize cash flow. By increasing these investments, providers streamline claim submissions, track status in real-time, and monitor claims more effectively.
“Healthcare leaders are clear on their investment priorities for 2025: AI and advanced automation are critical to improving efficiency, accuracy, and security,” said Matt Hawkins, Chief Executive Officer of Waystar. “Waystar is focused on delivering AI-powered software that maximizes return on investment for providers and simplifies healthcare payments in an increasingly complex landscape.”
Waystar will discuss these findings during the 2025 HIMSS Global Healthcare Conference & Exhibition including at a panel on Tuesday, March 4 at 10:15 a.m. PT at The Venetian, Level 3, San Polo 3504. Attendees can also visit Waystar at Booth 4643 throughout the conference.
The full report is available at Waystar.com.
About Waystar
Waystar’s mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals list. Waystar’s enterprise-grade platform annually processes over 6 billion healthcare payment transactions, including over $1.8 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at waystar.com.
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SOURCE Waystar
