Speech Recognition in Radiology

We hope you find this article interesting and informative. We used our Reaction research platform to gather all of the data for it. Whether you’re a hospital, clinic, payer, or vendor, you too can use our platform for your own research programs and projects.

What happens when a market matures around technology that fills a very real need? High adoption becomes the norm, industry leaders emerge, and inevitably some begin to dull as the shine of the latest and greatest technology wears off. In addition, there is always a small segment of the market that stubbornly holds out like a grandpa with a flip phone who makes a point to let everyone know how smartphones are overkill.This is the speech recognition market in radiology. Other healthcare segments, such as cardiology, pathology, and speech-enabled EHR have not seen anything close to the adoption rate in radiology. This in large part is due to the fact that radiology is big money and can afford to adopt new technology at a much faster pace than other segments. In addition, radiologists have always been very mindful of eciency. Radiology is the early adopter of technology of healthcare. Need proof? The majority (73%) of holdouts in adopting speech recognition have plans to finally take the plunge. That’s as significant as your great grandma showing up to the next family reunion with the newest phablet, enthusiastically showing everyone how it gets her on the “interwebs”.

We’re seeing an interesting story develop as we trend data from 2015’s study on the speech recognition market. While three main suppliers are performing well in the market, one is seeing significant improvements in several key performance metrics—Net Promoter Scores, mindshare, and at risk contracts.At the end of the day, there are few audiences that technology companies love more than early adopters. But once the dust settles from the mad rush to innovate and adopt, growth opportunities scale back dramatically. Speech recognition epitomizes this trend with a 9% replacement market and Net Promoter Scores that are relatively high. This low degree of churn makes it difficult (but not impossible) for startups to make their way in this market while keeping the undisputed market leaders on top. The only way these kinds of markets see major shakeups is through unique new innovations or material cost reductions.

**Note: This research included participation from 375 healthcare leaders in radiology departments and diagnostic imaging centers across North America. As always, we are extremely grateful to our participants of our research. Your willingness to offer your candid perspective from the backrooms of pathology departments and facilities provides valuable insights that inform and guide the industry to better vendor-provider relationships, more functional solutions and hopefully improved outcomes.

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Industry Insights

Speech Recognition in Radiology

We hope you find this article interesting and informative. We used our Reaction research platform to gather all of the data for it. Whether you’re a hospital, clinic, payer, or vendor, you too can use our platform for your own research programs and projects.

To download the full report

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