Recent regulatory changes mandate that hospitals learn from and improve care experiences. The patient satisfaction component of the federal payment program will have an impact of $275 million to $750 million of lost reimbursement revenue across the healthcare sector. Existing surveys for patient satisfaction are antiquated and ineffective. Healthcare providers lack actionable data to improve patient experiences.Our technology turns masses of patient narratives about care experiences into actionable knowledge in real time. Targeted primarily at healthcare services, our product provides business intelligence to healthcare administrators and enables clinicians to improve clinical outcomes based on what patients say--in their own words--about the care services they receive.We have successfully implemented our MVP at the largest outpatient clinic in Austin, TX. We have also signed letters of intent to implement our solution in two of the largest hospital networks in the country.TECHNOLOGYOur technology brings together formerly disparate analytical methods--surveys and narrative analysis--to put statistical results in context. This innovative data analytics method shows, based on extracting information from first-hand narratives through natural language processing, why customers/patients are rating their experiences with particular scores (e.g., 74% of patients answering that nurses were "usually" respectful). Putting "what" (74% of responses on X) in the context of "why" (respondents' narrative feedback) makes our technology unique in its capability to provide actionable knowledge on "how" to improve delivery of services for better operational and financial outcomes.  

Open Jobs at NarrativeDx

Funding

May 22, 2017
$3,671,365
Type: funding
Investors:
June 09, 2015
$650,000
Type: funding
Investors: Capital Factory, DreamIt Ventures, Floodgate, LiveOak Venture Partners, Silverton Partners

Overview

Website: narrativedx.com
Founded: 2013
Funding: $4.32M
Location: Austin
Type: Technology Company
Industries: HealthTech

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