Frost & Sullivan recently researched conversational AI in the healthcare industry and, based on its findings, recognizes Kore.ai with the 2023 North American Product Leadership Award. Kore.ai is a leading provider of conversational AI solutions that empower companies to drive meaningful human-computer interactions and remarkable business experiences with groundbreaking AI tools.
Kore.ai leverages conversational AI to accelerate workflows and interactions through smooth and fluid communication between humans and virtual assistants. The company helps organizations offer outstanding experiences for their customers and employees on voice and digital channels.
One of the best examples of Kore.ai’s disruptive solutions is HealthAssist, an innovative and pioneering platform that automates the conversations of healthcare stakeholders and delivers a human-like conversational experience. This cutting-edge healthcare solution features automated patient enrollment, patient recruitment, lead generation, prescription drug information, billing and registration, medical equipment support, and patient reminders, among other convenient tools.
With advanced tools such as HealthAssist, Kore.ai leads the conversational chatbot market, with high prospects for growth in the coming years, and is well positioned to capitalize on this opportunity.
“Frost & Sullivan estimates the use of chatbots in the global healthcare market will reach $514.9 million in revenue in 2027, with a compound annual growth rate of about 19.1% from 2021 to 2027. Within this framework, Kore.ai uniquely utilizes its expertise to satisfy customer objectives. It is well positioned to capitalize on new growth opportunities, solidifying its leadership,” said Manuel Albornoz, Best Practices Research Analyst at Frost & Sullivan.
Furthermore, Kore.ai has a solid organizational culture that focuses on addressing customers’ pain points and leveraging insights to identify and explore growth opportunities. Kore.ai works closely with clients and partners to refine its product roadmap, upgrade, and add new features to its existing products, thus delivering even more personalized tools, user-friendly solutions, and human-like experiences.
“Conversational AI is having a tremendous impact on the healthcare industry,” said Kore.ai CEO Raj Koneru. “Backed by generative AI and large language models (LLMs), we are seeing a wave of digital transformation with healthcare providers, payers, and life science companies that are looking to create extraordinary patient and member experiences, improve access to care, and create operational advantages throughout their organizations,” said Koneru. “It has been exciting to see the evolution of our pre-built, pre-trained, integration-ready use cases for the healthcare industry and it is an honor to be acknowledged by Frost & Sullivan for our work in Conversational AI in healthcare.”
Kore.ai has pre-built bot templates that customers can easily customize to accelerate time to market. Moreover, Kore.ai features a consultative approach with in-house experts who participate in sales and provide customers with a traceable ROI model. With these innovations, Kore.ai stands out from its closest competitors, positioning it to gain a larger market share over the next few years.
“Above and beyond, the company distinctively integrated its chatbot with industry-leading electronic health/medical records, legacy laboratory, radiology, and pharmacy systems. Likewise, HealthAssist seamlessly connects with multiple sources of healthcare ontologies and leading symptom-checking applications, admission-discharge-transfer, patient monitoring, billing, and other revenue cycle management solutions,” noted Paul Sonnier, Industry Analyst at Frost & Sullivan.
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.
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.
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