Data is everywhere. It informs decision making, identifies key trends, and improves the overall quality of patient care. However, the data collected is often unstructured or not easily accessible.It is estimated that over 90% of data is unstructured According to Forbes. Speech analytics can bring value to organizations by analyzing data, gaining context, and drawing actionable meaning.
What is speech analysis?
“This call may be monitored and recorded for quality” is a familiar phrase heard by many customers. Speech analysis (or natural language understanding) is becoming a more standard tool that uses artificial intelligence to analyze an organization’s recorded conversations. It highlights the words and phrases that callers use most to identify topics and trends.
The global speech analytics market is rapidly expanding, especially in the healthcare industry.market is Expected to be worth $4.5 billion by 2026an increase of 20.5% over 2021. Global Healthcare Artificial Intelligence Market It is expected to expand to $194 billion by 2030 (from an estimated $8.2 billion in 2020). Speech analytics technology can be leveraged to help better understand friction in the customer journey and improve customer retention.
Examples of speech analysis include word clouds, transcription, and sentiment analysis. These tools show what callers care about most, such as billing, benefits, digital accessibility, and more. However, these insights are not always actionable because context is often lacking. Missing organization’why’ These words and phrases are the most important. A word cloud might indicate that customers are frustrated, but what are they frustrated about? Meaningful changes only occur when context is applied to the data.
Digital Transformation with Speech Analytics
A sort of Deloitte investigation A collaboration with the Scottsdale Institute found that 92% of health systems rank a better patient experience as the most desirable outcome of digital transformation.
Speech analytics can drive action and change by uncovering the root cause of organizational problems or concerns. When organizations see disruption to the customer journey, they face:
- A strong indicator of customer churn
- low customer satisfaction
- Gaps in patient care
- Patient confusion about prescriptions, treatments, or status updates
- Lack of customer knowledge about medical and insurance terms
Digital transformation, including speech analytics, can help reduce costs, predict behavior, and improve the patient experience by identifying disruptions in the patient journey. You can also identify key behaviors, define recurring trends, and better understand patient perspectives.
Access unstructured data using speech analytics
Most data is undefined and unstructured when it is initially collected. You need tools that make the most of unstructured data. Without it, the customer’s voice is muffled. Data becomes valuable once it’s turned into actionable insights. The key is context, and in healthcare, context is everything.
When looking for a speech analytics solution, you need software that can listen to your customers and engage with the stories they share. By using speech analysis to convey the patient’s voice, organizations can identify topics directly from the patient, rather than making assumptions or conducting investigations.
Data is just a starting point
Listening to customers can have a valuable impact. The context becomes clearer, interruptions are identified, and actionable next steps can be taken. Most organizations have various ways to collect customer data. However, a truly patient-centered, goal-driven approach that can foster impactful change requires more than just data.
Making all the changes at once is difficult, so be sure to prioritize your next steps. This could mean:
- Identify ways to listen to patient experiences at scale by investing in speech analytics tools
- Use your customer’s voice to guide your planning by leveraging qualitative analysis and human listening
- Accelerate activities already in progress with existing customer interactions
- Reassess the process and identify where changes need to be made
Not all patients understand the business of healthcare, so you need a speech analytics tool that can identify the sources of confusion, frustration, and distress affecting their journey. Speech analytics offers the opportunity to ensure all voices are heard and actionable steps can be taken.
Photo: filo, Getty Images
