Healthcare sector has always been subject to changes caused due to the influx of technology, regulatory shifts and market trends. In recent times, this industry has witnessed transformations at a macro level that were instigated by the rise of consumerism of healthcare with increased use of internet, better paying patients, industry consolidation, practice of paid-for-performance, and value-based reimbursements. However, the need to enhance patient experience and satisfaction remains unchanged for many healthcare services providers, hospitals and physicians. Binary Fountain addresses these inherent challenges by aiding healthcare providers with software solutions that helps translate consumer feedback into actionable insights. “Our company leverages on the technological conveniences such as cloud computing, use of analytics tools and social media to holistically gather and survey data and iron out issues within a healthcare establishment to boost their service deliver and quality,” extols Ramu Potarazu, President and CEO, Binary Fountain.
The company has created SaaS-based natural language processing (NLP) models and identified nearly 37 key performance indicators (KPIs) that are a part of healthcare systems such as quality of care, ER, parking facilities, services from nursing staff, amongst others to assess overall patient experience. Social Compass, one of Binary Fountain’s key offerings, helps determine KPIs that are within and outside the hospital system and performs real-time surveys, analysis on customer feedbacks, and social media listening on multiple websites. In addition, the solution is deft in conducting sentiment analysis to find the underlying causes for poor quality of treatment and patient experience as well as publishing testimonials on physicians’ pages to boost their digital presence and hospital’s ranking in online search results.
Provider Social Index application, is another of Binary Fountain NLP based solutions that provides a thorough analysis on the nearly 12 KPIs that are controllable by the physicians. Furthermore, the solution uses a scoring system to depict state of consumer markets and patients’ opinions on a particular physician. Unlike its competitors, Binary Fountain is one of the few companies that hold expertise in analytics at a profound level for healthcare organizations.
Many renowned players in the healthcare sector have gained immensely by using the Social Compass and Provider Social Index.
In one instance, a leading healthcare customer approached Binary Fountain to help identify key indicators that helps augment their services and brand reputation based on feedbacks from patients and social media. The client needed to hire nearly 20 people into their workforce to manually churn out and synthesize relevant feedback information. Instead, the company deployed Social Compass that facilely collected patient feedbacks from online review and recommendation sites and sent the customer timely alerts on those reviews. The alerts enabled the client to respond quickly to negative reviews and incorporate changes in their healthcare system that resulted in greatly improving patient experience and customer loyalty as well as build a strong online reputation. “With Social Compass, our clients did not have to hire many people to do the job and as a result, they incurred significant amount of savings in their operational costs,” says Potarazu.
Social Compass is one of our SaaS-based natural language processing models that helps identify nearly 37 key performance indicators
The success stories of Binary Fountain are indicative of the vast applicability and functionality of its solutions. “For the future, we wish to build and optimize on new partnerships, explore global market, and unravel new sources of information to carry on with our quest to aid healthcare companies,” concludes Potarazu.