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New AI tool for fighting health insurance denials could save hospitals billions, and help patients

Waystar announced a new generative AI feature that aims to help hospitals quickly fight insurance denials.

Health-care payments company Waystar on Monday announced a new generative artificial intelligence tool that can help hospitals quickly tackle one of their most costly and tedious responsibilities: fighting insurance denials. "We think if we can develop software that makes people's lives better in an otherwise stressful moment of time when they're getting health care, then we're doing something good," Waystar CEO Matt Hawkins told CNBC. "In the face of all of this administrative waste in health care where provider organizations are understaffed and don't have time to even follow up on a claim when it does get denied, we're bringing software to bear that helps to automate that experience," Hawkins said.

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