Waystar

RCM tools related to COVID-19
Predict and manage the impact of COVID-19 on administrative and financial processes

Waystar provides revenue cycle management tools for hospitals and healthcare organizations. Waystar’s tools can help hospitals predict and better manage the impact of COVID-19 on their administrative and financial processes and guide them toward informed decisions. The company is upholding exceptional service levels throughout this time, with hold times of 15 seconds or less. A few product highlights are below.

• Waystar’s clearinghouse now includes the COVID-19 CPT codes, and the company has already begun electronically transmitting these codes to payers.
• Eligibility Verification, Waystar’s industry-leading eligibility solution, shortens the patient check-in process by providing access to benefits information from thousands of insurance companies/plans in seconds. It also saves time spent calling and searching for benefits information from payers—who are experiencing high call volumes.
• Waystar’s Prior Authorization solution automates the process of getting authorization for care from insurance companies. Manual prior authorizations take up valuable staff time and can even delay patient care. With Waystar’s solution, providers can get faster approvals at a time when every minute counts.
• Waystar’s Charity Screening solution helps hospitals assess charity care by connecting eligible patients with financial assistance instead of sending them to collections. The solution automatically and consistently identifies patients that qualify for charity under a provider’s Financial Assistance Policy. When undertaken manually, this process places a heavy administrative burden on hospitals, especially given an expected influx of patients.
• Waystar’s Claim Monitoring solution combines the power of Ovation screen scraping technology and Recondo’s ClaimStatusPlus to automatically gather claim status information directly from payer websites and other nontraditional data sources. Claim Monitoring alerts staff members when they need to take action, saving the time they would otherwise spend manually following up on a claim status. As hospitals are facing an increasing volume of patients and claims related to COVID-19, this feature can streamline the process and give staff time to focus on other priorities.