How SpeechMED Reduces Cost for the Insurance Industry

  • Lowers hospital re-admission by preventing avoidable and sometimes expensive (and possibly life threatening) medical mishaps, which can result from language and reading literacy barriers, and average $32k per incident
  • SpeechMED™ also helps to prevent duplicate testing, by storing reports so they can be retrieved instead of performed again, therefore reducing the cost for insurance companies

 

How SpeechMED Improves Efficiency for the Care Provider

  • Decreases potential for fines for avoidable readmissions, assessed by federal government.
  • Backwards compatible with existing hospital data and record systems, so costly new installations are not required.
  • Educational self-help videos saves nurses’ time in explaining the same thing over and over, while ensuring the information can be readily accessible by the patient
  • Updates to the patient’s record are synced to the patient’s tablet, eliminating the need for printing and sending them additional material.
  • Monitor patient compliance with medicine regimen

 

How SpeechMED Improves Outcomes for the Patient

  • Hearing and reading their information, in the language of the choice, allows the patient to better comprehend and follow their care instructions (especially if they are a non-english speaker, or they live in a household that speaks more than one language.)
  • Automated audio and visual reminders reduces patient anxiety about ‘what pill to take and when’, results in less skipped medications and missed appointments.
  • Having all their information in one place, and readily accessible to them, gives the patient confidence they not only have a personalized plan of action, but that it is in good working order.
  • Educational videos and other resources helps engage, educate and encourage the patient to understand how to better manage their condition and the importance of adhering to their care plan.

 

How SpeechMED Provides Value to Pharma

  • Less days without medication due to forgetfulness and more Rx refills, means more money is spent on medication.

 

How SpeechMED Provides Value to Family Members and Professional Caregivers

  • Family members using the Caregiver Application now have a convenient method to keep track of a loved one’s care plan, making the entire process more transparent and coordinated.
  • Caregivers receive notifications of non-compliance for early intervention.
  • Assurance that caregivers, regardless of native language, have the information to follow medical instructions.

 

 

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