Cognizant (NASDAQ: CTSH) has been placed in the "Winner's Circle" in the new HfS Research Blueprint Report: Healthcare Payer Operations. HfS Research is a leading independent global analyst firm for the business and IT services industry.
For The HfS Blueprint: Healthcare Payer Operations report, the firm evaluated 15 leading global service providers on their claims management, member management, provider data management, and health and care management capabilities and offerings, along with their analytics and enabling technology platforms. Service providers demonstrating excellence in both execution and innovation across these areas were placed in the "Winner's Circle."
Cognizant is recognized in this Blueprint report for "driving new ways of addressing challenges and opportunities in healthcare with solutions for 'speed to market'." Specific strengths highlighted include:
- Depth, forward thinking, and investments in technology and consulting, with an innovation program that can help "bring to life" the use of digital technologies;
- Business Process as-a-Service (BPaaS) options that plug in and quickly provide services to meet customer needs, underscoring Cognizant's vision of helping the industry move from high fixed-cost, capital intensive models to variable, consumption-based cost structures;
- Creation of a centralized Medicare/Medicaid Center of Excellence that helps clients increase internal synergies for enrollment, claims, medical management reconciliation and reporting.
"Healthcare organizations are experiencing unprecedented demands on their time, systems, and capability as the industry shifts its focus to consumers and pay for performance, in the midst of on-going regulatory requirements," said Barbra McGann, HfS Executive Vice President, Business Operations Research. "Partners like Cognizant can help payers and healthcare providers take advantage of solutions that bring together industry-specific experience and digital technologies like automation and analytics."
"We work closely with our clients to help them digitally transform and reimagine their businesses for the new realities in healthcare, which include member and patient engagement, regulatory challenges, cost pressures, rapidly changing technologies and real-time information requirements, " said Krish Venkat, President, Healthcare and Life Sciences at Cognizant. "We continue to make strategic investments in technology to deliver industry-leading BPaaS solutions that empower our clients to embrace new business models and harness new digital technologies while escaping the capital intensive, high fixed cost models that have long dominated the industry."