Waystar's Payment Management platform offers comprehensive tools to optimize the collection of payments from both payers and patients. By automating key processes such as remittance and deposit management, electronic remittance advice (ERA) handling, and patient payment collections, the platform reduces administrative burdens and accelerates cash flow. It provides a unified system that integrates with existing healthcare information systems, ensuring seamless operations and improved financial outcomes. The platform also enhances the patient financial experience by offering transparent billing and convenient payment options, leading to higher patient satisfaction and loyalty.

Features

• Remit and Deposit Management: Automates the matching of remittances and deposits, reducing errors and days in accounts receivable.
• Electronic Remittance Advice (ERA) Processing: Streamlines the handling of ERAs, ensuring accurate and timely posting of payments.
• Patient Payments: Provides a centralized platform for managing patient payments, offering multiple payment channels and automated posting.
• Agency Manager: Facilitates efficient management of accounts sent to collection agencies, ensuring consistent follow-up and reporting.
• Integrated Reporting and Analytics: Delivers insights into payment trends and performance, supporting data-driven decision-making.