Recent regulatory changes mandate that hospitals learn from and improve care experiences. The patient satisfaction component of the federal payment program will have an impact of $275 million to $750 million of lost reimbursement revenue across the healthcare sector. Existing surveys for patient satisfaction are antiquated and ineffective. Healthcare providers lack actionable data to improve patient experiences.
Our technology turns masses of patient narratives about care experiences into actionable knowledge in real time. Targeted primarily at healthcare services, our product provides business intelligence to healthcare administrators and enables clinicians to improve clinical outcomes based on what patients say--in their own words--about the care services they receive.
We have successfully implemented our MVP at the largest outpatient clinic in Austin, TX. We have also signed letters of intent to implement our solution in two of the largest hospital networks in the country.