Waystar

What is Waystar and who sells it?

Waystar Holding Corp. was incorporated in Delaware in 2019, the year EQT and CPP Investments acquired it. It went public on Nasdaq in June 2024 under the ticker WAY and raised nearly $1 billion (SEC 10-K). The 10-K lists principal executive offices in Lehi, Utah, with an office in Louisville, Kentucky. In 2025 it agreed to buy Iodine Software for $1.25 billion, $625 million in cash plus shares, and the deal closed around 1 October 2025 (Fierce Healthcare).

What does it do?

The website calls it "an AI-powered healthcare payments software platform". The product list covers financial clearance, clinical integrity and revenue capture, claim and payer payment management, denial recovery and analytics. Specific functions include eligibility checks, estimates, authorizations, claim monitoring, remittance, patient payments and appeals. The AI layer is branded AltitudeAI and described as predictive, generative and agentic. Waystar claims to reach 60% of the US patient population and more than a million providers. Both claims are the vendor's.

What about security and integration?

The homepage shows HITRUST, SOC 2, PCI and HIPAA badges with no scope given, and no list of connected EHRs is published.

What does it cost?

There is no public price. It is an enterprise contract.

What do customers say?

The vendor cites a provider net promoter score of 74-plus from September 2023 on its homepage.

The verdict

Waystar fits a hospital revenue-cycle team that wants eligibility, claims, denials and payments from one vendor. Its Nasdaq listing means the 10-K describes the business, its offices and its acquisitions in filed detail. A buyer gets the price and the module-by-module security scope only through a sales quote.