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Speech Technologies are Poised to Disrupt the Patient Experience, According to Recent Survey

Speech Technologies are Poised to Disrupt the Patient Experience, According to Recent Survey

LumenVox and SpinSci State of Healthcare and Innovation Survey Findings highlight overdue shift in healthcare investments in AI, speech technology, and security with the patient experience at the forefront.

LumenVox, a leading provider of speech and voice technology, and SpinSci, a patient digital engagement and workflow efficiencies company, recently announced the results for the State of Healthcare and Innovation Survey.

The new survey is based on data gathered from 226 respondents in five healthcare settings: Community health systems (41.59% of survey respondents), academic medical centers (32.74%), Critical Access Hospitals (CAH) (27.43%), ambulatory care centers (20.80%) and community hospitals (12.39%).

Results show there is a significant “voice” disruption within healthcare, as more and more providers seek to invest in Artificial Intelligence (AI), speech recognition and voice biometrics to improve and better streamline patient contact-center services and security.

The role of contact centers is increasingly important to providers, as it gives them a direct voice in patient interactions and is critical to delivering a strategic and differentiating experience.

Contact centers in healthcare are small, made up of approximately 1-20 agents across the five healthcare settings. These small teams spend more than 55% of their time resetting passwords for patient applications and portals (i.e., Epic MyChart) – with each reset taking three or more minutes to complete. Password resets for internal IT applications account for approximately 53% of the agents’ time. Some 90% of agents currently provide password reset self-service capabilities available for their patients and employees. In addition, IT deployments range from approximately 44% on-premises and 35% cloud-based, to 21% on-prem/cloud hybrids.

When asked about future planning over the next 1-3 years, respondents’ top-10 contact center considerations include:

  • Artificial intelligence (40%)
  • Voice biometrics (35%)
  • Cybersecurity (33%)
  • Speech recognition (28%)
  • Outbound notifications (SMS) (26%)
  • EHR integrations (22%)
  • Machine learning (19%)
  • Password reset (18%)
  • Interactive Voice Response (IVR) (18%)
  • Cloud (15%)

See a breakdown of the results:

Download the Infographic
Businesses Expect More From Speech Technologies – And Rightfully So

Businesses Expect More From Speech Technologies – And Rightfully So

By Dan Miller | Lead Analyst and Founder, Opus Research

Just one year ago in response to an executive survey, Opus Research found businesses were significantly underutilizing (80%) “voice data” that was captured and analyzed. Well, that didn’t take long to remedy. When asked a similar question in a survey this year, we witnessed a reversal in the fortune of speech technologies. Roughly two-thirds of respondents told us that they were making good use of more than half their conversational intelligence.

Based on their responses, the data definitively show that the proverbial lightbulb has come on to illuminate a direct connection between highly accurate automated speech processing and a trifecta of measurable business outcomes surrounding customer experience, employee productivity and competitive advantage. Close to two-thirds (64%) see Voice Services as “important” or “very important” to the future of their company’s strategy. And 92% said that they expect such solutions to be “widespread” within the next five years.

Those “widespread” implementations are driven by investment in capabilities regarded to be highly impactful. When asked what areas are “most impactful” three-quarters of respondents mentioned “customer experience analytics” and 54% mentioned “Conversational AI and Voicebots.” This is vivid evidence of a move from (or augmentation) of old-guard implementations surrounding employee coaching and development, as well as pragmatic applications like “call summarization.”

Figure 1: Most Impactful Use Cases for Speech Technology (Opus Research, 2021)

High Expectations for a New Voice Platform

Survey responses reflect high expectations for platforms that combine Automated Speech Processing with Analytics, Natural Language Processing and Business Intelligence to improve customer experience and stay ahead of their competition.  Across the board, decision makers showed that they now perceive a direct connection between highly accurate speech recognition to support transcription of utterances and a direct connection to their bottom line.

These findings confirm, and even reinforce a number of observations that Joe Hagan, Chief Product Officer at Lumenvox and I discussed in a recent Webcast entitled “The Age of Voice Innovation, Part II: What Keeps You Up at Night.” We noted that a “Voice Renaissance” of sorts is transpiring as companies simultaneously make a “move to the cloud” in support of an overall “Digital Transformation.”

As IT departments opt to move a number of “internal processes” into the server farms that comprise the public clouds operated by Amazon, Google, Microsoft or Salesforce, it has become easier and more affordable to implement speech-enabled applications.

Having posed the rhetorical question, “what keeps you up at night?” the conclusion was, “precious little.” The move to the cloud is accompanied by usage-based pricing and consumption models for the whole alphabet of resources like ASR, TTS, NLU/NLP and ML, as well as vital capabilities like analytics and business intelligence. We posited that the new architectures and pricing models were successfully “democratizing speech” and these survey findings validate those observations.

Questions about speech technologies? Contact LumenVox.

Frost & Sullivan Recognizes LumenVox with Enabling Technology Leadership Award

Frost & Sullivan Recognizes LumenVox with Enabling Technology Leadership Award

LumenVox acclaimed by Frost & Sullivan for offering highly accurate voice-enabled solutions with its AI-powered speech recognition platform.

Based on its recent analysis of the North American contact center industry, Frost & Sullivan recognizes LumenVox, a leading provider of AI-driven speech recognition and voice biometrics software, with the 2021 Enabling Technology Leadership Award for its versatile and cost-effective suite of speech and authentication software. The company offers a modern toolset that enhances voice experiences with customizable features and a wide range of capabilities such as speech recognition, transcription, natural language understanding, active and passive voice biometrics, call progress analysis, and text-to-speech.

“LumenVox stands out as a premier provider of a large set of emerging and maturing technology that others in the market adopt for product development and performance. The company also uses these core technologies in its products and packaged solutions for the market,” said Nancy Jamison, industry director of digital transformation practice at Frost & Sullivan. “One of the keys to Lumenvox’s success is the broadening of its core portfolio while pivoting to be a more product-focused company. This has doubled LumenVox’s reach and allows the company to market core technologies embedded in a variety of provider platforms or be sold as white-labeled solutions.”

Advances in speech technologies are driving the adoption of conversational AI solutions, and LumenVox has become one of the most reliable providers in the speech technology industry. The company is constantly innovating and developing cutting-edge functionalities that address key market trends, making modern communication technologies more efficient and accessible.

“We are thrilled to receive this recognition for our dedication to creating excellent customer experiences,” said Edward Miller, Founder & CEO at LumenVox. “Our industry-leading speech recognition and voice enabling software helps companies deliver accurate, efficient, and scalable voice experiences to a diverse base of users. We are committed to continuing to create more personalized and seamless interactions for customers through modern voice technology.”

By delivering a highly flexible suite of speech and authentication software, LumenVox helps companies around the world maximize productivity with tools that boost efficiency, automate tasks, and enhance the overall performance of voice applications. In addition, its vision, strong client relationships, and superior customer service differentiate LumenVox from its competitors.

“Simplicity is the hallmark of a LumenVox customer engagement. From fitting technology into an existing environment to extremely flexible pricing and consumption models, LumenVox is an easy company to work with,” noted Jamison. “The company continues to innovate across its core components and develops new functionalities that address key trends in the industry.”

Each year, Frost & Sullivan presents this award to a company that develops a pioneering technology that enhances current products and enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

Download the 2021 Frost & Sullivan Enabling Technology Leadership Award – The North American Contact Center Industry here.

Download the Frost & Sullivan Enabling Technology Leadership Award Report
ASR’s Renaissance Calls for an Innovation Engine

ASR’s Renaissance Calls for an Innovation Engine

By Scott Baker | Senior Analyst, Opus Research

Voice has found new life as we enter the new year. Enterprises and their customers have high expectations for solutions that closely link accurate speech recognition, human-like text-to-speech renderings, natural language understanding (NLU), and voice biometrics to serve specific, or even multiple, use cases. ASR has grown up to become the conversational intelligence opportunity that’s bigger than the sum of its parts.

Once upon a time, automatic speech recognition (ASR) resided most comfortably in the enterprise contact center. It didn’t get out much. Once Alexa arrived in 2013, ASR found a massive new audience in the home but living in the cloud. A rush of new use cases quickly gathered around ASR. The big three smart home assistants, voice authentication, and contact centers are largely where ASR remained and thrived. But as we enter 2022, we’re in the early days of the great ASR acceleration, or as Opus Research’s own Dan Miller calls it, the ASR Renaissance — born of strategic acquisitions, product innovation, tech stack modularization, and partially in response to a worldwide pandemic.

As part of a recent two-part webinar series, Opus Research joined LumenVox Chief Product Officer, Joe Hagan, to discuss how ASR is being redefined, and the opportunities it presents for self-service and enterprise communications.

“Traditional call center IVR type applications continue to be the bellwether for growth and utility for speech applications,” Hagan explained, “but we’re seeing an awful lot of new applications that need to be served, things in consumer and retail, and things like audio mining and virtual assistants. These are important applications that are a course of growth for ourselves and our customers.”

Consider the rich information available for a retail call center wherein they’re fielding and recording calls about garment fit, price, inventory, shipping, and returns or refunds. ASR tech is capable of differentiating between caller and agent voice, tracking interest in certain brands and sizes, evaluating and quantifying reported issues of fit or quality inconsistencies, voice biometrics can determine caller demographics enquiring about certain brands and product types, etc. This is conversational intelligence in action, informing business decisions with a direct impact on inventory and sales.

Yet, despite the easy sell for that integrated vision, a recent Opus Research survey found that of 80% of companies leveraging ASR for transcription, less than one-third of those same companies are applying their findings to improve outcomes and drive new business decisions.

There’s also the matter of how entrenched a brand is in its current technology stack. Many of them might feel locked into a legacy ecosystem of custom integrations and services. When considering their next move, cost and time are huge considerations. Historically, the road to leveling up an organization’s conversational intelligence has been a precarious and potentially costly one. That’s not necessarily the case anymore as LumenVox and others begin to modularize their services in a way to become more accessible.

As the technology improves and becomes more modularized and open (i.e. through APIs, containers, etc), the playing field levels for companies providing solutions in the ASR space. This will no doubt drive new competition and more attractive price points for enterprise customers looking to realize this holistic model for conversational intelligence.

The current pace of innovation means that companies no longer need to take a giant and expensive leap of faith with a vendor who promises to deliver it all. Speed and accuracy no longer come at a steep premium, and the modularization of services also means that each component can be judged on its own merits and weaved together for a solution that specifically addresses a company’s most critical needs.

Contact us to learn how LumenVox can help.

Processing the Big Claim: The Benefits of Automated Audio-to-Text Transcription

Processing the Big Claim: The Benefits of Automated Audio-to-Text Transcription

There’s no disputing that insurance companies manage a mountain of recorded audio files. From adjusters recording claimants and interviews with eyewitnesses, to conversations with medical, legal and insurance professionals, the sheer number of these captured verbal records can be overwhelming, especially when your claims team processes hundreds of claims a month.

Imagine how much time adjusters and back-office personnel expend in manually transcribing interviewees’ responses and statements into words. For complicated incidents, such as three or more cars in an accident, an arson case, or personal injury claims, these transcriptions can grow insurmountable for mere mortals quickly. Alternatively, the majority of insurance companies don’t even attempt to transcribe recorded audio files due to the high cost, time investment and privacy concerns.

There’s an innovative and readily available solution – the Automated Speech Recognition (ASR) transcription engine. It quickly and accurately converts verbal audio files into secure digital documents at significantly faster rates and lower costs than manual transcription. Some insurance companies have begun to see the light, and here’s why.

How Can a Transcription Engine Help Insurance Companies? 

An ASR-based transcription engine can take audio and video files and turn them into written documents. They produce a clear written record of verbal interactions that adjustors, underwriters, legal teams and operations teams can later reference and analyze, removing a major burden from the shoulders of your claims team. 

Additionally, ASR transcription can reduce the risk of fraud and afford a greater level of security for firms employing transcription with their own in-house, dedicated transcription tool. For those enterprises that choose not to use it – due to cost, time or for perceived privacy issues – those stagnant, unutilized audio files aren’t able to focus and deliver the full picture of the info and data within.

What Can be Transcribed With an ASR Engine? 

  • In-person or phone interviews with claimants, eyewitnesses, suspects and other victims involved in an insurance claim
  • Interviews and conversations with medical or legal professionals who are assisting a claim 
  • Field notes, recorded statements, and summary reports, especially those from an adjuster who is observing first-hand damage to property or possible fraudulent activities
  • Meetings and conversations with insurance professionals who are helping with a claim. 
  • Depositions

The Value of Your Own ASR Transcription Engine 

It doesn’t matter if you handle property and casualty, life, health or even business insurance, an ASR transcription engine can make your specialty teams and claims process run more efficiently, with fast turnarounds and improved accuracy rates, and economically, with an ROI achieved usually within months. 

Let’s dive a little deeper into scenarios that can benefit from an ASR transcription engine:

  • For arbitration files: Keeping transcripts of recorded statements for arbitration files is beneficial, as transcripts of recorded statements can come in handy and can even help you win a case.
  • To recognize fraud: Statement transcriptions can easily aid in the detection of any indications of fraud. It can assist adjusters in proving whether or not any wrongdoing occurred. The claim handler can compare each statement and discover any unknown differences using the transcribed papers. If a case goes to court, the transcripts can be used to prove evidence, reduce losses, and prevent fraud from occurring again.
  • Useful for adjusters: Adjusters find that having transcribed statements saves them significant time. The adjusters can use the transcripts to refer back to the case and understand even the most minute details.
  • Enables easy file transfer between departments: Insurance claims must be distributed to multiple departments and adjusters. The files can be simply moved between departments by transcribing the recorded statements into accurate digital transcripts.
  • Having a complete file: In the insurance industry, keeping a detailed file is crucial. All recorded statements can be transcribed verbatim, which aids adjusters in compiling a complete claim file. Maintaining a full file allows adjusters to access insurance documentation and records faster in the future.

Why LumenVox?

Innovative improvements in automatic speech recognition (ASR) and voice technologies at LumenVox have transformed the role of transcription. Our award-winning ASR engine with transcription offers an extremely high degree of accuracy over other automated transcription tools and manual (human) transcription. LumenVox’s ASR operates on a foundation of artificial intelligence (AI) and deep machine learning (ML) to deliver the highest performing, future-proof voice and speech technology. Our rich speech and voice technology history enables customers to build voice-enabled solutions that not only understand what is being said, but also identify who is saying it.

Deploying a LumenVox customized in-house ASR transcription solution will deliver significantly more privacy, more security, more control and deeper analytics than contracting with third-party transcription service. Best of all, keeping it in-house is easy, your data and information is protected and safe from fraud, and it is supremely affordable. It’s an innovative solution that has the potential to become a vital component in the insurance field.

Contact us to learn how LumenVox can help.

Taking Advantage of Conversational AI to Deliver Meaningful Customer Experiences

Taking Advantage of Conversational AI to Deliver Meaningful Customer Experiences

Enterprises across every industry vertical are investing in conversational AI. Contact centers have the unique distinction of being at the intersection of people, processes, and technologies in every enterprise. As such, contact centers need conversational AI now, more than ever. These conversational AI applications and solutions can be catered to various needs depending on what purpose your contact center serves.

For example, it could be used to help with lead generation, and overall marketing efforts or it could be to cater to your customer service needs. You can also deploy these AI-based technology tools to help your sales teams upsell and cross-sell. Here are some of the top five reasons why call centers around the world have to invest in conversational AI.

Contact centers need conversational AI to deliver powerful customer experiences

1. Deliver personalized conversations at scale

In today’s world, customers expect more personalized customer conversations, and conversational AI can help deliver that at scale. Regardless of a customer moving from a messenger app to a live chat to social channels, the conversational AI-based tool can help personalize the experience, follow the customer across channels and even understand context and history to offer a truly seamless customer service experience.

2. Support call volume spikes

Customer service departments are under tremendous pressure to deliver results with a finite number of resources. This is where conversational AI plays a pivotal role. It is possible to deploy AI chatbots and voice assistants to help take care of call spikes and resolve customer queries.

With conversational AI, you can categorize calls based on a customer’s voice, past interactions, and context. Thus, a good volume of calls can be routed to an intelligent virtual assistant and help reduce contact center agents’ workload. This way, the contact center agents can concentrate on what they do best – provide great customer experiences.

3. Provide 24/7 customer support

Your customers want service when and how it is convenient for them, therefore no customer support is complete without the inclusion of conversational AI and tools. Self-service options are no longer nice-to-have but critical to your customer service success. Chatbots and virtual assistants are an integral part of a brand’s customer engagement strategy to deliver on the self-service customer promise. Thanks to conversational AI understanding the intricacies of human speech, natural language, and emotions, it is possible to deploy these AI-based systems to improve customer service and support experiences across the board. The best part is it can scale seamlessly without any issue, pick up where the human left, bring in context and maturity with more social interaction.

4. The power of a persistent customer conversations

With too much competition all around and customers getting picky, it is tough to attract your target audience’s attention. But with conversational AI you can train your chatbots and virtual assistants to help not only in customer service, but also in your marketing and sales efforts. Conversational AI can connect with the audience at a deeper level thanks to advanced technologies like understanding customers’ real intent, gauging their emotions, and hidden expectations. Models trained to handle various nuances of human nature can be a better way of persuading customers to sign-up for your webinar or download a white paper or even buy a product or service from you. All these efforts help drive your marketing and sales teams forward.

5. Deliver on the customer promise

Brands that fail to deliver on the requisite customer experience and customer engagement are bound to fail regardless of having a world-class product and approachable pricing. Therefore, conversational AI platforms can help to deliver on this promise of an excellent customer experience. This means your customer engagement and support channels can remain open 24/7 and your customers don’t have to wait in a queue for a live agent. They can connect with the brand through multiple channels and still expect a seamless customer experience. All this adds to delivering on the customer service promise that you have made to your customers.

If you want to maintain a persistent conversation throughout the customer lifecycle, you need a new strategy for managing your communication interfaces and their supporting resources. 

Contact us to learn how LumenVox can help you scale your contact center with conversational AI.