RingCentral Drives Momentum and Adoption Across Healthcare Organizations

Rhea-AI Summary

RingCentral, Inc. (NYSE: RNG) has seen a 46% increase in staff productivity, a 53% increase in staff satisfaction, and a 42% increase in HCAHPS patient satisfaction from healthcare customers using its HIPAA-compliant communications solution. The company has added over 500 new healthcare customers in the past 18 months, including Sun River Health and Heartland Dental. These organizations have chosen RingCentral for its reliability, unified communications, contact center solutions, and reputation for support. The adoption of cloud-based communications through RingCentral has enabled these healthcare organizations to enhance patient care and grow their leadership in serving key provider segments across the country.

Insights

Market Research Analyst

The integration of RingCentral's solutions within the healthcare sector has demonstrated notable performance improvements, as evidenced by the reported increases in staff productivity and satisfaction, as well as patient satisfaction. These metrics are critical indicators of operational efficiency and quality of service, which can translate into higher patient retention rates and potentially increased revenue for healthcare providers.

From a market perspective, the adoption of RingCentral by over 500 new healthcare customers, including prominent organizations like Sun River Health and Heartland Dental, signals a growing trend towards digital transformation in the healthcare industry. This shift not only enhances patient care but also presents significant growth opportunities for companies providing cloud-based communication platforms.

RingCentral's focus on compliance with industry standards such as HIPAA and HITRUST further strengthens its market position, as healthcare providers must adhere to strict regulations regarding patient data security and privacy. The company's ability to maintain a 99.999% reliability rate is also a competitive advantage, emphasizing its commitment to providing consistent and dependable service.

Financial Analyst

The reported increases in productivity and satisfaction metrics are likely to have a positive impact on RingCentral's financial performance, as they serve as a strong value proposition for potential clients in the healthcare sector. Furthermore, the expansion into healthcare, a sector known for its resilience and consistent growth, may diversify RingCentral's revenue streams and reduce dependency on other, potentially more volatile, market segments.

Investors should note the importance of recurring revenue models in the tech industry, which RingCentral's cloud-based solutions inherently support. The addition of a substantial number of new clients could contribute to a stable and predictable cash flow, an attractive aspect for shareholders. However, it's essential to monitor the cost associated with acquiring and supporting such a large and specialized customer base, as this could impact profit margins.

Healthcare Technology Specialist

The adoption of RingCentral's cloud-based solutions by healthcare organizations is a testament to the increasing reliance on technology to improve healthcare delivery. The emphasis on an open platform with rich APIs allows for greater integration with existing healthcare systems, which is crucial for the seamless exchange of information and interoperability.

Security and privacy are paramount in healthcare and RingCentral's adherence to HIPAA and HITRUST certifications showcases its commitment to meeting the industry's stringent requirements. This commitment not only helps in mitigating risks associated with data breaches but also builds trust with healthcare providers who are responsible for protecting patient information.

The reported improvements in HCAHPS (Hospital Consumer Assessment of Healthcare Providers and Systems) patient satisfaction scores are particularly significant, as these scores are often tied to Medicare reimbursement rates, directly impacting a healthcare organization's bottom line.

Healthcare customers see 46% increase in staff productivity, a 53% increase in staff satisfaction, and a 42% increase in HCAHPS patient satisfaction¹ from using RingCentral’s trusted HIPAA-compliant communications

BELMONT, Calif.--(BUSINESS WIRE)-- RingCentral, Inc. (NYSE: RNG), a leading provider of AI-first global enterprise cloud communications, video, webinars, hybrid events, and contact center solutions, highlighted that healthcare organizations are adopting RingCentral for Healthcare solution for its trusted reputation in delivering consistent 99.999% reliability, innovative products, and an industry-leading open platform with rich APIs, plus security and privacy by design standards, and various certifications such as HIPAA and HITRUST. Over the past 18 months, RingCentral has added more than 500 new healthcare customers across small, midsize, and large enterprise segments.

Driving Adoption Across Healthcare Organizations

Sun River Health, with 450,000 patient visits annually, selected RingCentral for its reliability and integrated unified communications and contact center solutions.

“We put together an extensive list of must-haves for an enterprise-wide communications solution that would unite our 2,000 employees across 50 distributed locations: reporting and analytics, contact center functionality, cost, mobility, security, and the company’s reputation for support,” said Eric Brosius, Vice President of Technology Services at Sun River Health, New York’s largest federally qualified health center. “When we evaluated all the vendors against these criteria, RingCentral was the optimal solution. As a leader in care, the adoption of cloud-based communications through RingCentral enables us to enhance our patient care journey, and aggressively grow our leadership in serving key provider segments across the country.”

RingCentral also has among four of the largest dental support organizations (DSOs) in the United States, including Heartland Dental. According to Jeremy Stroud, Vice President of Patient Services at Heartland Dental, the nation's largest DSO, “The thing that still amazes me every day about RingCentral is that it’s enabling our Patient Services Representatives to handle patient inquiries for more than 1,700 dental offices across the country—and in turn letting them provide a better level of service than they’ve ever had.”

“RingCentral for Healthcare is providing a healthcare cloud solution that suits the needs of customers of all sizes, from small clinics to the largest hospitals, for secure, reliable communications,” said John Poli, Healthcare Industry Principal at RingCentral. “According to a RingCentral survey, by using our solutions, healthcare customers saw a 46% increase in staff productivity, a 53% increase in staff satisfaction, and a 42% increase in HCAHPS patient satisfaction. Many healthcare organizations are moving beyond land-locked on-prem models to the cloud, so they can support hybrid care delivery for both in-office and virtual — to better serve patients and staff.”

“RingCentral has a lot going for it in terms of functionality and industry reputation,” said Darryl Flores, director of Gonzaba Medical Group’s Patient Access Center. “But the big differentiator for us was that RingCentral has earned HITRUST certification. For healthcare organizations, that’s the gold standard because it demonstrates the platform meets the requirements of several data-privacy regulations, most importantly HIPAA.”

For more information about healthcare at RingCentral, please visit: https://www.ringcentral.com/office/industry-solutions/healthcare-providers.html.

About RingCentral

RingCentral is a leading global provider of AI-first cloud-based business communications and collaboration that seamlessly combines phone system, messaging, video, webinars and hybrid events, and contact center. RingCentral empowers businesses with conversation intelligence, and unlocks rich customer and employee interactions to provide insights and improved business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of millions of customers and thousands of partners worldwide. Visit ringcentral.com to learn more.

©2024 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.

¹ Based on data from a 2022 survey conducted by RingCentral.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240205087730/en/

PR Contact:

Mariana Leventis

+1 650-562-6545

mariana.leventis@ringcentral.com

Source: RingCentral, Inc.

FAQ

How much has staff productivity increased for healthcare customers using RingCentral's communications solution?

Healthcare customers have seen a 46% increase in staff productivity.

What is the ticker symbol for RingCentral, Inc.?

The ticker symbol for RingCentral, Inc. is RNG.

What certifications does RingCentral's healthcare solution have?

RingCentral's healthcare solution has certifications such as HIPAA and HITRUST.

How many new healthcare customers has RingCentral added in the past 18 months?

RingCentral has added over 500 new healthcare customers in the past 18 months.

Which healthcare organization selected RingCentral for its reliability and unified communications and contact center solutions?

Sun River Health selected RingCentral for its reliability and unified communications and contact center solutions.