Everest Group names Virtusa as ‘Major Contender’ in 2014 healthcare payer ITO PEAK Matrix

Everest Group evaluated 18 global healthcare payer IT service providers

Virtusa Corporation, a global business consulting and IT outsourcing company has recently been named a ‘Major Contender’ in the healthcare payer IT outsourcing PEAK Matrix by Everest Group, an advisory and research firm on global services. This is the first year Virtusa has been ranked in this category, making the leap from the ‘Emerging Player’ category in the previous year.

Everest Group evaluated 18 global healthcare payer IT service providers in the recently released report IT Outsourcing in Payer Industry – Service Provider Landscape with PEAK Matrix Assessment 2014: Rise of the Challengers.

The in-depth report, issued annually, measures service providers on its proprietary Performance, Experience, Ability and Knowledge (PEAK) Matrix. According to the report, Everest Group determines that ‘Major Contenders’, who also happen to be competing with ‘Leaders’ at a certain level, are also bearing the brunt of the heightened competition. They are steadily ramping up their capabilities or improvising strategies to remain competitive in the arena.

“Payer industry IT outsourcing is steadily maturing from largely regulations-driven IT investments to a more elaborate consumer-focused technology strategy,” said Abhishek Singh, Practice Director, Everest Group. “In this scenario, Virtusa has grown in significance by focusing on industry-specific solutions and stronger service capabilities,” he adds.

“We are delighted to be named as a ‘Major Contender’ in the healthcare payer ITO report. The changing regulatory landscape and growth of retail consumers is driving healthcare payer clients to evaluate new models to reduce overall medical costs and generate growth. Our healthcare payer clients are embracing Virtusa’s solutions and optimised delivery models to achieve those objectives,” said Anthony Lange, VP-Healthcare, Virtusa. “In this changing paradigm, our team members have delivered exceptional results for our clients – results our clients rely on to achieve market-leading positions.”

Virtusa’s healthcare solutions and services enable its clients – health plans, providers, service providers, and software vendors within the healthcare sector – to transform their business by optimising operations to gain efficiencies, and expanding target audiences by delivering a distinctive millennial and consumer engaging experience.

EH News Bureau