Privately held athenahealth is another big competitor for Waystar. athenahealth is a cloud-based health tech company that provides a suite of products to healthcare providers that are aimed at maximizing financial outcomes, improve revenue cycle management, address staffing shortages and streamline clinical data to improve clinical decisions. When I spoke with its former CEO, Jonathan Bush in 2009, he talked about how he set up athenahealth to improve the collection s process for providers. It had about 2% of the physician market share in the US in 2009 and a client portfolio of over 13,000 MDs and 19,000 medical providers.