Table of Contents
01 Elevating Conversational CX in Healthcare
02 The Health Tech Monthly Roundup
03 AI-powered tools aiding prevention of heart diseases
04 5 key insights for the Future of Conversational CX in Healthcare
05 4 Steps to a Conversational CX-driven Healthcare Enterprise
Elevating Conversational CX in Healthcare
Most healthcare providers today accept the central role of CX in maintaining the loyalty of patients and health consumers. A growing mix of both large and mid-sized healthcare organizations have transitioned to ‘Value-based Care’ from the older ‘Fee-For-Service’ model. However, elevating CX remains a major concern due to lack of patient recorded information (via voice, email, text) and a 360-degree view of the consumer (aggregated from clean data sources) creating disjointed care experiences. In the face of greater patient demand and overburdened legacy health systems, CX tools & solutions form a critical starting point for Providers to transform simple touch points into connected care experiences.
Adopting CX technologies allows HCPs to enable scale & speed, engineer new experiences, and analyze behavioral data. Within this rubric is the convergence of CX-specific tools that help understand how customer groups think & behave, and the experience of individuals.
Our latest research uncovers key insights for the Future of Conversational CX in Healthcare, with a detailed guide towards being a Conversational CX-driven Healthcare Enterprise. Our research highlights how CX tools & solutions form a critical starting point for transforming simple touch points into connected care experiences.
Source: Mantra Labs Report
Digital self-service receives the second-highest share of CX investments. Switching to CX-based tools helps Providers scale-up intelligent care delivery and enhance their patient-centric journeys. These allow Health CX decision-makers to measure what happens during the experience, how patients perceive the experience, and how they respond across the value chain. HCPs will need to harness self-service CX strategies for enabling an omnichannel relationship with health customers; learning insights from historical health data, and creating an enhanced patient view from this behavioral data to drive greater efficiencies. Better self-service outcomes can boost customer satisfaction and net promoter scores – across existing and new business, for demand pools in OPD & IPD care.
Elevating Conversational CX In Healthcare
Read the full report.
The Health Tech Monthly Roundup
A quick roundup of the month’s latest health tech activity, both in India and globally.
- Apollo Hospitals and Connected Life have teamed up to combine Apollo’s AICVD tool with ConnectedLife’s technological capabilities. The partnership will strengthen Apollo’s research for co-development in clinical AI and help in bringing out an accurate risk prediction tool for healthcare professionals.
- MFine is set to merge with LifeCell International Private Limited to form a new entity called LifeWell. This new venture will open up a wide range of opportunities for providing on-demand healthcare with excellent customer experience.
- Tebra secured $72 million in its latest funding to expand its all-in-one digital platform. The company will use the capital to accelerate its merger plans like increase market share, develop and launch the product line and advance the new branding for the company.
- Spry has garnered over $7 million in Series A funding. The company will infuse this fresh capital to build the future of practice management for physical rehabilitation.
- Intellect, a mental health firm based in Singapore, has raised an additional $10 million in a Series A round that will be invested in expanding its presence across the Asia-Pacific region.
- MediBuddy has acquired Clinix to expand their presence across rural India and extend their service to a larger section of the country.
CX Trends for Healthcare in India, 2022
AI-powered tools aiding prevention of heart diseases
India will have the greatest rate of cardiac fatalities by 2030, predicts eminent cardiologist Dr. C N Manjunath. Global Burden of Disease study revealed, for every 100,000 Indian people, about 272 individuals die from CVDs, higher compared to the global average of 235. At the helm of the last few years, a large number of people have lost their lives due to heart attacks. One of the recent victims is the well-known Indian vocalist KK.
Heart-related problems are growing at an alarming rate amongst young and middle-aged people which is why detecting the disease at an earlier age has become an absolute necessity now. AI-aided Super Agents can ‘engage to win’ customers with 63% more success, reveals Mantra Labs whitepaper. Agents empowered by AI have been increasing productivity performance with contextual insights — like the patient’s email, appointment history, or why they last reached out. Artificial Intelligence powered technologies have proven to give clinicians the opportunity to know additional information about the patient and improve the diagnosis and prevention.
Last year, one of the largest hospital networks in India created an AI tool that can forecast the risk of cardiovascular diseases using data collected over a ten-year period from more than 400,000 patients across the country. AI-powered Cardiovascular Disease (AICVD) Risk tool can provide a risk score – grouped into high, moderate and minimal – that takes into account a patient’s lifestyle attributes, such as diet, tobacco and smoking preferences and physical activity, psychological stress and anxiety as reflected via respiratory rate and blood pressure reading. Recently, the organization has partnered with Connected Life to integrate its AICVD tool with ConnectedLife’s digital solutions. Healthcare practitioners will now have access to a comprehensive platform that uses AI and ML to forecast risk and acquire insights for quick action.
“While early diagnosis and intervention can make a positive impact, doctors do not have the tools handy to evaluate the risk of their patients developing heart disease,” Dr Prathap C. Reddy, chairman of Apollo Hospitals Group.
According to the NASSCOM’s latest report, global investments in AI have more than doubled over the last couple of years – from $36 billion in 2020 to $77 billion in 2021. Its adoption rates surged by 51% in 2021, yet its usage rates remain low. This shows that there’s a huge scope for the health industry to make AI a better partner for healthcare providers. Industry experts need to leverage AI-powered tools to accelerate prevention and reduce the disease burden in the industry.
What does the Digital & Connected Patient Experience of Tomorrow look like?
Read the blog here.
5 key insights for the Future of Conversational CX in Healthcare
- 1 in 3 view Conversational Commerce as part of healthcare. Healthcare providers that successfully initiate conversations, advise, engage and then close over multiple channels can potentially retain up to 7X more customers.
- Messaging platforms are the most preferred communication medium for interacting with Healthcare brands.
- Conversational Intelligence empowers both front & back-office teams across the organization. 4X more cost-efficient to focus on routine processes that support retention, like follow-ups/referrals.
- Conversations create convenience. And convenience leads to conversion. 90% of Healthcare customers prefer personalized interactions to static responses.
- 3 in 4 customers prefer to request information via intuitive conversational interfaces. It helps them search through knowledge bases faster and know about product features more easily. 79% of Healthcare customers prefer being engaged by chat rather than call.
6G and the Future Customer Experience
Read the full blog, here.
4 Steps to a Conversational CX-driven Healthcare Enterprise
- Identify data sources, pipeline, security & privacy concerns.
Leverage in-house data first to set the foundational base for an open data platform and governance that supports customer-centric analytics. This will enable HCPs to pilot use cases in isolation along the business value chain to extend capabilities.
- Explore setting up CX-supporting systems.
Most HCPs get stuck in an endless loop of proof-of-concepts or off the-shelf tools, but do not move towards transforming how they operate or how their patients perceive them. Setting up a supporting system first, like a customer analytics platform, allows HCPs to utilize a data-driven approach to Conversational CX.
- Optimize & build around digital customers & agents first.
Consider the business problems you’re trying to solve for, and how replacing or opening up new channels can solve operational challenges. HCPs can effectively learn from interactions, to allow contextual conversations to happen where the patient is.
- Scale & evolve value-based care to the patient’s door.
Adapt Conversational CX across business units that allows Providers to be less siloed-working and more synchronized. Build relevance in your interactions through contextual engagement based on the patient’s life stage needs, matched to on-demand products and experiences
Elevating Conversational CX in Healthcare
Read the Whitepaper here.
Business cognizance for the new-age digital insurers