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Waystar10-K: Capacity constraint

Healthcare providers spend $20B annually contesting denied claims, a major inefficiency

What happened

Waystar's potential customers are facing significant financial drain from operational inefficiencies, spending approximately $20 billion per year just to contest denied claims.

Source

SEC EDGARFeb 17, 2026

Annual report (Form 10-K)

Waystar 10-K for FY2025

Filing excerpt

According to the Healthcare Financial Management Association (HFMA), approximately 25% of overall revenue cycle management spend is dedicated to error correction, compliance, and rework.

sec.gov/Archives/edgar/data/1990354/000199035426000011/way-20251231.htmRead the full source

Other signals in this filing (10)

Extracted by Autobound

From the Signal API record
Signal
10-K: Capacity constraint

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 17, 2026

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The full record

From the Signal API record

Numbers

Dollar figure
$20B (Annual spend by healthcare providers to contest denied claims)
Percent
25% (of revenue cycle management spend dedicated to error correction, compliance, and rework)

Details

CIK
1990354
Accession number
0001990354-26-000011
Timeframe
Current year
Filing year
2026
Why it matters
Scaling solutions needed
Signal category
Operations

Extraction

Confidence
High
Relevance
85%
Sentiment
Negative
Detected
Feb 24, 2026
signal_type
sec-10k
signal_subtype
capacityConstraint

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This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/c7930d35-5f10-4f1a-bd3f-cbc58046bf5d returns this record as JSON. POST /v1/companies/enrich returns every signal for waystar.com.

{
  "signal_id": "c7930d35-5f10-4f1a-bd3f-cbc58046bf5d",
  "signal_type": "sec-10k",
  "signal_subtype": "capacityConstraint",
  "detected_at": "2026-02-24T09:42:26.76+00:00",
  "company": {
    "name": "Waystar",
    "domain": "waystar.com"
  },
  "data": {
    "detail": "Waystar's potential customers are facing significant financial drain from operational inefficiencies, spending approximately $20 billion per year just to contest denied claims. Additionally, 25% of all revenue cycle management spending is dedicated to error correction and rework, highlighting a massive opportunity for efficiency and automation solutions.",
    "metrics": {
      "pct": 0.25,
      "timeframe": "current_year",
      "pct_context": "of revenue cycle management spend dedicated to error correction, compliance, and rework",
      "dollar_context": "Annual spend by healthcare providers to contest denied claims",
      "dollar_millions": 20000
    },
    "summary": "Healthcare providers spend $20B annually contesting denied claims, a major inefficiency",
    "excerpts": "According to the Healthcare Financial Management Association (HFMA), approximately 25% of overall revenue cycle management spend is dedicated to error correction, compliance, and rework.",
    "relevance": 0.85,
    "sentiment": "negative",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1990354/000199035426000011/way-20251231.htm",
    "filing_date": "2026-02-17",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Scaling solutions needed",
    "signal_category": "operations"
  }
}

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