Veyo is an example of future’s tech exciting path toward inclusivity. Veyo is using future tech tools like big data and predictive software to deliver lower cost, higher performance non-emergency medical transportation (EMT) for the economically disadvantaged.
Veyo is at the heart of future tech’s mass market economic potential for providing all Americans with goods and services that are cheaper, easier to use, safer and healthier.
Veyo uses future tech to better serve the disadvantaged
If you are trying to understand the political rhetoric around health care costs then look no further than Medicaid. Medicaid provides government funded medical care for the economically disadvantage. One out of five Americans, 70 million people, rely on Medicaid for their medical care.
Veyo’s business plan is to reduce the $5 billion that Medicaid annually spends to provide 3.6 million transportation events for the economically disadvantaged. Veyo’s strategy is to use big data and predictive software to reduce costly inefficiencies while also making quantum leaps in patient service. After only one year of operations, covering just $120 million out this $5 billion annual revenue market segment, Veyo has achieved:
- $7 million in cost savings
- A reduction in average wait times to 10 minutes from an industry standard of one hour
- A 99.5% on time pick up rate compared to an industry standard 90%
- Cutting customer grievances to approximately a tenth of industry standards.
Veyo did not achieve these results by cherry picking only least costly, or easiest served, customers. Their contracts are for state-wide service. They provide full curb to curb service, or based on customer needs, door to door.
How Veyo uses future tech to cut costs and improve service
Veyo uses future tech in a two step, interactive process. The two steps are to capture massive amounts of data tied to the delivery of EMT services and then processing this data in real time to identify immediate action items that improve performance.
GPS vehicle tracking is core to their big data stream. Veyo is the first in the EMT industry to track every vehicle using GPS.
Veyo uses predictive software to process their big data streams in dispatching vehicles. This is done in real time. For example, if an originally dispatched vehicle cannot achieve the targeted on time pick up goal then Veyo’s smart system will identify, and then dispatch, an alternative vehicle to achieve the targeted pick up time.
Veyo connects their real time predictive software system to a multiple channel customer-communications system. Patients can choose to receive pick up status information through a phone call from Veyo, by checking a web portal or receiving smart phone alerts. This same type of multiple-channel communications path is also used by customers for service reservations.
Veyo’s future tech job model
Veyo provides a glimpse into how future tech jobs will be designed around people and service. Their drivers are:
- instructed in CPR
- qualified to serve customers across languages and cultures
- trained on privacy laws
- receive specialized training on how to serve customers with intellectual limitations
- equipped with Veyo’s future tech tools and trained in their use.
Veyo’s future tech culture
Josh Komenda, Veyo’s CEO, invited me to Veyo to see for myself. Veyo’s offices are filled with millennials work associates. Komenda explained that many of his work associates could be making more money working for other future tech companies. But they were at Veyo because their work is making a difference for those less advantaged. This is a lesson for every business. The companies most successful at recruiting millennials have baked being “cool with a purpose” into every job versus just having a corporate responsibility department that does cool and purposeful things.
Please watch my four minute edited video interview with Komenda where he explains how Veyo is using future tech to lower costs, improve customer service and grow jobs!
Future tech’s economic promise for all Americans
Right now, future tech looks pretty scary to most of us. We fear our jobs will be replaced by a smart machine. We question whether future tech has any benefits for us. Right now future tech looks like it just works for the rich, who can afford a $100,000 all electric smart car that can go from 0-60 in less than 3 seconds, or for future tech workers living in a few cities like San Francisco.
San Diego based Veyo, with locations in Colorado, Idaho, Texas and Michigan, provides tangible evidence that future tech will be inclusive to all Americans. Future tech companies like Veyo are emerging as America’s economic and jobs growth engines.
Veyo is also demonstrating that future tech will serve all Americans.
That is future tech’s, and our, future. Explosive growth won from delivering inclusive solutions that cost less and mean more.
About the author
Bill Roth is a clean tech pioneer who led the team that launched the first hydrogen fueled Prius. He is a featured contributor on Triple Pundit and Latin Business Today. His book, The Secret Green Sauce, has been used by thousands of business people to implement proven green best practices that make money and a difference. Bill’s latest book, The Boomer Generation Diet, is his personal story on how to achieve sustained weight loss while still having fun and living more. The book’s ten customizable best practices are the sustainable solutions to our national weight crisis that threatens our health and medical cost bankruptcy.