Cognizant today announced that market intelligence and advisory services firm IDC Health Insights has named it a “Leader” in two newly released IDC MarketScape reports covering U.S. Healthcare Payer Business Intelligence (BI) Consulting Services and Outsourcing Services.*
The IDC MarketScape reports, the first of their kind on the healthcare payer BI services industry, assess seven distinctive service providers in the U.S. healthcare payer BI consulting and outsourcing services markets. Vendors were evaluated on 28 criteria, including growth strategy execution, innovation/R&D pace and productivity, financial/funding management, employee management, and account management/customer service. The reports leverage extensive industry research and customer references. Based on aggregate scores for their current and future capabilities, featured vendors are categorized by each IDC MarketScape as Leaders, Major Players, Contenders or Participants.
Cognizant’s strengths as evaluated in both IDC MarketScape reports on the Healthcare Payer BI services industry included:
- Capacity to partner with clients over the long term;
- Expertise that is both broad and deep, particularly in terms of technical capabilities;
- Excellent account management, demonstrating speed in appreciating client needs and staffing its teams appropriately;
- High staff retention and reputation for recruiting quality employees; and
- Capability to innovate internally, as well as to import expertise from outside the healthcare vertical into payer BI projects.
“Tectonic shifts in the U.S. healthcare industry are driving healthcare payers to invest at high rates in BI tools and services to respond effectively to their operational needs and competitive challenges,” said Sven Lohse, Research Manager at IDC Insights. “The IT service providers supporting BI at payers are playing a more strategic role. Successful vendors like Cognizant are providing deep expertise and technology capabilities, and are delivering hybrid offerings combining software tools and strategic consulting resources. For healthcare payers and for Cognizant, this is a win-win as these hybrid offerings make it possible to increase the value and ROI on payer consulting spend, while Cognizant is able to leverage insight that helps increase the value that each of its client-facing resources can provide.”
“Healthcare payers are undergoing the most dynamic period of change they have ever experienced,” said Krish Venkat, President, Healthcare and Life Sciences at Cognizant. “We’re committed to developing the capabilities and making the necessary investments like Trizetto to help our clients successfully navigate this journey. We believe that data and analytics will be a key enabler in delivering business transformations across both payer and provider organizations. We’re pleased the IDC MarketScapes recognize Cognizant’s ability to provide the advisory, technology consulting and healthcare analytics solutions that position our clients to make data driven decisions and deliver better business outcomes.”