HealthLeaders Media March 25, 2020
Waystar explores how innovative tech is bringing needed transparency and consumerization to a patient financial experience marked by surprise medical bills and growing out-of-pocket costs, while also helping providers improve key administrative processes.
The US healthcare system’s lack of price transparency is perhaps the single biggest issue plaguing the patient financial experience. Across care settings, patients receive treatment with little sense of out-of-pocket costs and what will ultimately be covered by their insurance. And when bills do come, they’re often higher than expected, difficult to understand and unpredictably timed.
Surprise billing on the rise
This lack of financial clarity, paired with the fact that patients have to shoulder a higher percentage of care costs under high deductible plans, often leads...
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