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Cadara Partners with Waystar

In a significant move to enhance the efficiency of healthcare payments, Cadara, formerly known as National Care Systems, has announced a strategic partnership with Waystar. This collaboration has led to the introduction of Cadara Exchange™, a new solution specifically designed for managing revenue within post-acute care settings.

Eliminating Workflow Fragmentation

The Cadara Exchange™ seamlessly integrates Cadara RLM™, the company’s cloud-based billing and revenue management software, with Waystar’s AI-powered revenue cycle platform. This integration aims to dismantle the barriers caused by fragmented workflows, which have often been a burden for healthcare organizations. By combining these systems, Cadara and Waystar are offering a comprehensive solution that simplifies the revenue management process for post-acute care providers, reducing the administrative headaches that severely limit productivity and transparency across financial transactions.

The Need for Change

The healthcare landscape is increasingly characterized by reimbursement pressures, complex payer requirements, extensive documentation mandates, and administrative hardships. These challenges necessitate a shift toward more effective revenue management solutions that can lessen the manual workload and enhance oversight across revenue flows. Marina Aslanyan, CEO of Cadara, underscored this need, stating that the partnership with Waystar aims to provide a more efficient experience for revenue management, enabling healthcare teams to concentrate on critical tasks while confidently navigating the complexities of financial operations.

Streamlining Financial Processes

Cadara Exchange™ accomplishes several crucial objectives within its framework:

• - Connected Claims Management: By allowing claims and payments to be handled in a single workflow, the solution erases the need for multiple logins, downloads, and disjointed processes that have historically complicated revenue management.
• - Enhanced Revenue Acceleration: Utilizing Waystar’s Claim Manager, which boasts a remarkable average first-pass clean claim rate exceeding 98.5%, organizations can identify and resolve issues prior to submission, effectively reducing the risk of avoidable rework.
• - Cost Efficiency: The integration aims to improve cash flow while significantly lowering accounts receivable days by enabling automated monitoring of payment processes and reconciliation tasks.
• - Boosting Productivity: By automating much of the claims work, finance teams can redirect their focus toward high-value denial recovery efforts, enhancing overall functional efficiency.

A Bright Future for Revenue Operations

The partnership between Cadara and Waystar is set to propel the capabilities of post-acute care organizations, keeping pace with the increasingly intricate nature of revenue cycles. Matt Hawkins, CEO of Waystar, explained that the aim is to introduce cutting-edge technology and payer intelligence into the workflows of healthcare entities, fostering a precise and speedy payment process.

The integration of Waystar’s functionalities into Cadara’s ongoing Revenue Lifecycle Management strategy promises to make payment experiences more cohesive. The continued development towards a centralized approach incorporates EHR connectivity, automation leveraging AI, and other strategic partnerships aimed at redefining revenue operations in post-acute care facilities.

Availability and Further Information

Cadara Exchange is currently available for all existing Cadara RLM customers. To learn more about how Cadara Exchange can facilitate a more streamlined approach to revenue management, visit cadara.com.

About Cadara

Cadara is a dedicated healthcare technology firm exclusively focused on post-acute care, built on over 30 years of experience. The company serves more than 1,700 organizations nationwide, helping them streamline complex revenue operations through intelligent software and expert guidance.

About Waystar

Waystar specializes in simplifying healthcare payments, offering mission-critical software that optimizes financial performance for healthcare providers. The company's platform processes billions in transactions annually, serving over 30,000 clients including numerous prestigious healthcare institutions. By prioritizing patient care above all else, Waystar aims to make healthcare financial management more efficient and effective.