Press Ganey Acquires NarrativeDx To Expand AI-Driven Consumer Insights
NarrativeDX (Healthtech - Fall 2014) is the latest win for the Dreamit portfolio. Today, the company announced that it is being acquired by health care performance improvement pioneer Press Ganey.
Kyle Robertson, Founder and CEO of NarrativeDx
This comes on the heels of NarrativeDX’s recent funding round just one year ago last February. Kyle Robertson, Founder and CEO of NarrativeDx comments, “We share Press Ganey’s passion for driving health care transformation. Our proprietary comment analytics solution further complements Press Ganey’s suite of transformational solutions, providing unmatched ability to derive value from patient and employee feedback.”
NarrativeDX uses AI to identify actionable insights from patient feedback to improve CAHPS scores, increase referrals and reduce nurse turnover. Their proprietary artificial intelligence and natural language processing technology enables health systems to humanize comment data from patients and employees, translating massive volumes of critical feedback into actionable insights that can be used to transform the health care experience.
Their solution blends nicely with Press Ganey’s existing offerings that serve more than 41,000 health care facilities. Patrick T. Ryan, Chairman and CEO of Press Ganey remarks, “The capabilities of NarrativeDx, combined with Press Ganey’s Patient Experience and Workforce and Engagement Solutions, deliver an unmatched solution for organizations to generate segmented consumer insights that help providers reduce patient suffering and enhance workforce engagement, while improving safety, quality, experience, retention and brand reputation.” NarrativeDX extends Press Ganey’s ability to mine detailed consumer insights from the industry’s largest database of patient and caregiver feedback, representing more than 40 million returned surveys and 40 million comments annually. As organizational complexity and datasets grow, it’s becoming increasingly important and challenging for healthcare organizations to draw actionable insight. Highlighted below, it’s clear that this deal represents Press Ganey’s continued commitment to addressing this.
“In today’s consumer-driven health care marketplace, the ability to understand and act upon the needs of patients and providers is critical for organizations to accelerate and sustain improvement”
By Elliot Levy, Healthtech Associate at Dreamit Ventures
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