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Microsoft has historically relied on a partner-first approach for sales. Nuance has cultivated deep C-level relationships within targeted industries and as a result, Nuance's technology is used by 55% of physicians and 75% of radiologists in the United States. Nuance's relationships in healthcare, which take years to cultivate.It also offers specific AI models tuned for Healthcare to power chatbots, extract insights and proactively engage. Nuance offers digital front door solutions for patient engagement, as well as transcription and dictation for clinical workflows and diagnostics, and healthcare documentation and insights management - capabilities that Microsoft does not currently offer. Other Nuance healthcare technologies that complement and extend Microsoft's capabilities.As providers shift across multiple care settings from in-person to virtual and back again, many have highly variable workflows, and the burden of documentation can be lightened by ambient clinical technology like Nuance's DAX system.
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DAX already runs on Azure and Microsoft's Team product is integrated with the DAX system, enabling streamlined clinical documentation regardless of care setting. Nuance projected cloud ARR for DAX to grow up to $250m in fiscal 2023 from a base of $10m to $21m this year. The solution combines conversational AI, real-time transcription, process documentation, and interoperability in an elegant and sophisticated manner. Nuance Dragon Ambient eXperience (DAX) is designed to reduce physician burnout, improve patient experiences, and streamline efficiencies. Nuance's crown jewel in healthcare - DAX.With the addition of Nuance Microsoft's Health Cloud becomes more attractive for healthcare providers as it inherits: Healthcare providers today use Microsoft Cloud for Healthcare for patient self-scheduling and virtual care (telehealth), automated patient triage, and outbound communication. This is well-aligned with the rise of industry-specific cloud solutions that are fast becoming a preferred deployment choice for CRM and DOP.
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In October 2020, the vendor announced its more deeply verticalized Microsoft Cloud for Healthcare. Microsoft has offered lightweight industry-specific editions for years, but these solutions have seen limited success. The acquisition is the latest and largest move in the arms race (across all of the public cloud vendors) to offer vertical solutions leveraging its AI and IaaS/PaaS capabilities. Read More Microsoft Cloud for healthcare just got deputized How and why tech's big players are poised to give the industry its biggest shakeup in decades. Everything you need to know about the future of healthcare