This Frost Radar™ benchmarks the companies and their solutions that allow healthcare payers and providers to create next-generation virtual assistants. Conversational AI is primarily used to streamline patient and provider processes and interactions across the care continuum—the pre-care, at-care, and post-care phases. Conversational AI solutions are a growing opportunity for healthcare organizations to improve clinician efficiency, operational and administrative efficiency, healthcare quality and outcomes, and patient and clinical worker satisfaction.
Healthcare consumerism trends will continue pushing payers and providers to implement solutions that improve patient satisfaction, which will bring them to voice AI solutions. During the next few years, providers will increasingly integrate conversational AI into their digital front door, amplifying the positive impact of data sharing. A key solution in the market must help payers and providers improve clinical and operational efficiency while increasing patient engagement and participation.
For this Frost Radar™ analysis, the market has been segmented into chatbots and voice. Chatbots include clinically intelligent and true AI chatbots that assist payers, providers, or patients in their interaction with the healthcare system. The voice segment includes automatic speech recognition with post-meeting human and natural language processing transcription and ambient real-time transcription.
Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.
Strategic Imperative
Strategic Imperative (continued)
Growth Environment
Growth Environment (continued)
Frost Radar™: Enterprise Conversational AI in Healthcare
Frost Radar™ Competitive Environment
Frost Radar™ Competitive Environment (continued)
Abridge
Abridge (continued)
Abridge (continued)
Abridge (continued)
Amazon Web Services
Amazon Web Services (continued)
Amazon Web Services (continued)
Augmedix
Augmedix (continued)
Augmedix (continued)
Augmedix (continued)
Fabric
Fabric (continued)
Fabric (continued)
Fabric (continued)
Fabric (continued)
Fabric (continued)
Hyro
Hyro (continued)
Hyro (continued)
Hyro (continued)
Hyro (continued)
Innovaccer
Innovaccer (continued)
Innovaccer (continued)
Innovaccer (continued)
Kore.ai
Kore.ai (continued)
Kore.ai (continued)
Kore.ai (continued)
Kore.ai (continued)
Luma Health
Luma Health (continued)
Luma Health (continued)
Luma Health (continued)
Luma Health (continued)
Microsoft
Microsoft (continued)
Microsoft (continued)
Microsoft (continued)
Microsoft (continued)
Nabla Technologies
Nabla Technologies (continued)
Nabla Technologies (continued)
Nabla Technologies (continued)
Salesforce
Salesforce (continued)
Salesforce (continued)
Salesforce (continued)
Solventum
Solventum (continued)
Solventum (continued)
Solventum (continued)
SoundHound AI (Amelia Conversational AIPlatform)
SoundHound AI (Amelia Conversational AI Platform)(continued)
SoundHound AI (Amelia Conversational AI Platform)(continued)
SoundHound AI (Amelia Conversational AI Platform)(continued)
Suki AI
Suki AI (continued)
Suki AI (continued)
Suki AI (continued)
Suki AI (continued)
Best Practices
Growth Opportunities
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)
Significance of Being on the Frost Radar™
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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- Growth Opportunities
- Best Practices
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Impacting your company's future growth potential.
| Deliverable Type | Frost Radar |
|---|---|
| Author | Nitin Manocha |
| Industries | Healthcare |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | digital health |
| Keyword 2 | Conversational AI |
| Keyword 3 | AI in healthcare |
| Podcast | No |
| WIP Number | KAF7-01-00-00-00 |
Frost Radar™: Enterprise Conversational AI in Healthcare, 2024
A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines
05-Dec-2024
Global
Frost Radar
