Feb 26, 2016
TEANECK, N.J., Feb. 26, 2016 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced the development of a new digital healthcare platform, Cognizant Health TranZform™. Developed with technology from Orion Health (OHE:NZX/ASX), this new digital platform will help consumers make more informed decisions about the cost and quality of their care, while simultaneously enabling healthcare providers and payers to drive greater levels of consumer engagement and operational efficiency.
With the healthcare industry shifting from fee-for-service to value-based care, traditional healthcare organizations are increasingly transforming their business models to deliver consumer-centric care. The Health TranZform platform will serve as a cloud-based industry utility, enabling different healthcare stakeholders to easily interact with each other and consumers across the care continuum. By creating a secure platform, data from multiple systems, including payer data from Cognizant's TriZetto® payer core administration platforms, data from physician practice management systems and other healthcare ecosystem platforms can be integrated with electronic health records (EHR), to provide an improved customer experience and drive new solutions.
"Successfully engaging and empowering the healthcare consumer and delivering value-based care will require broad new digital and business process capabilities that allow for more personalization, self-service and more control over care decisions," said Krish Venkat, President, Healthcare and Life Sciences at Cognizant. "We are working with leading global partners like Orion Health to integrate capabilities into the Cognizant Health TranZform platform that will give health care organizations a cost-effective, seamless way to provide a differentiated, high-value, customer-centric experience."
"We are excited to bring the strengths of our technologies together to enable Cognizant Health TranZform to integrate and orchestrate clinical, social, consumer-generated, and financial data across multiple sources and vendors," said Ian McCrae, CEO for Orion Health. "Orion has been working to create a new model for collaboration across healthcare stakeholders and our relationship with Cognizant will create a significant opportunity to expand the breadth of data we derive insights from."
"We already use Orion Health as a core part of our integration strategy," said Dave Watson, CEO for Cal Index which is leading one of the largest payer sponsored healthcare integration projects in the U.S. "We are even more excited now that this new partnership brings Cognizant's products, services, scale, digital expertise and payer heritage to align to our strategy for growth and development."
Cognizant is showcasing its Health TranZform platform and other innovative healthcare solutions at the 2016 Healthcare Information and Management Systems Society (HIMSS) Conference and Exhibition at booth number #1416. During HIMSS16, Cognizant and Orion will showcase how Cognizant Health TranZform will leverage Orion's deep clinical heritage and Cognizant's payer heritage and scale, to focus on building solutions that address complex business challenges while enabling a level of cross-ecosystem collaboration that has not previously been possible in healthcare.
About Orion Health
Orion Health (NZX:OHE) is a technology company that provides solutions which enable healthcare to over 90 million patients in more than 25 countries. Its open technology platform seamlessly integrates all forms of relevant data to enable population and personalized healthcare around the world. The company employs over 1250 people globally and is committed to continual innovation, investing over 30% of total operating revenue year to date in research and development, to cement its position at the forefront of Precision Medicine. For more information visit www.orionhealth.com
About Cognizant's Healthcare and Life Sciences Practice
Cognizant's Healthcare and Life Sciences practice, which includes the TriZetto software portfolio, is committed to helping change millions of lives for the better by partnering with clients to build solutions to healthcare challenges, continually improve the way they do business, set the pace in clinical development, strengthen their regulatory infrastructure, and increase competitiveness. With approximately $3.5 billion in annualized revenue, Cognizant's healthcare practice is consistently ranked among the top 5 on the Healthcare Informatics Top 100. Cognizant serves 28 of the top 30 global pharmaceutical companies, 16 of the top 20 health plans in the U.S., 3 of the top 5 pharmacy benefit management companies in the U.S., 9 of the top 10 biotech companies, and 12 of the top 15 medical device companies. With a large team of dedicated professionals including doctors, pharmacologists, physicians, biomedical engineers, pharmacists, biostatisticians, medical writers, and GxP consultants, the practice provides domain-aligned consulting, IT, business process, software and as-a-service solutions globally.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 100 development and delivery centers worldwide and approximately 221,700 employees as of December 31, 2015. Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, our expectations regarding opportunities in the marketplace and our anticipated financial performance, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.