Cognizant's TriZetto Solutions Highlighted in Everest Group Report as a Leader in Domain Expertise, Advanced Technology, and Client Acclaim
TEANECK, N.J., April 4, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) has been named a Leader of healthcare cloud-based core administration in a new report by Everest Group. In its review of 14 IT healthcare service providers, Everest Group recognized Cognizant's TriZetto practice as a Leader for its extensive portfolio of services, strong vertical and technical capabilities, and positive client feedback.
"The evolving regulatory landscape and innovation in the payment sector is acting as a catalyst for the evolution of core administration platforms for expediting claims processing, optimizing policy administration, and enabling more efficient management of provider networks and members. These platforms are now enabling payer organizations to tackle challenges arising from a fragmented technology ecosystem," said Chunky Satija, Vice President at Everest Group. "Cognizant's healthcare expertise and its long-standing prowess in the claims space, coupled with modularized Facets and QNXT offerings modules, allows for a robust, flexible, and scalable solution, spanning across plan design, claims administration, and risk management. Continued, focused investments towards enhancements of the core administration platform capabilities along with an existing strong technology partnership ecosystem have enabled Cognizant's positioning as a Leader in Everest Group's Healthcare Cloud-based Core Administration Platforms PEAK Matrix® Assessment 2023."
In placing Cognizant in the Leader quadrant, Everest Group's assessment highlighted Cognizant's cutting-edge technology, domain expertise, and end-to-end, scalable solutions, including plan design, claims administration, and risk management. The company's Robotic Process Automation technology was noted for its successful approach to claims adjudication, along with TriZetto's Facets and QNXT pre-built interfaces that support seamless vendor transitions. In one example, Cognizant helped Signature Performance improve auto adjudication rates from 60% to 94%, reducing claims backlogs.
"Cognizant has been a valuable partner in supporting our efforts to ensure timeliness and accuracy of payments for healthcare claims, enhance security leveraging a government cloud environment, improve accuracy of reporting, and implement advanced dashboard and analytical capabilities," said Zach Fain, Chief Technology Officer at Signature Performance. "By running our ClaimsXM solution on Cognizant's TriZetto Facets core administrative platform, our government client has seen improvements of over 30% in claims being paid on time, leading to enhanced provider satisfaction and ultimately a better member experience."
"We're committed to helping our clients improve consumer care by simplifying and enhancing healthcare administration on the cloud," said Craig Mengert, Head of Cognizant TriZetto Products and Services. "TriZetto healthcare products are designed to help our clients drive administrative efficiencies, improve costs, and enhance member and patient experiences. Everest Group's recognition of Cognizant's leadership in healthcare cloud-based administration highlights our steadfast commitment to our partnerships, investments, and technology that enable payers and providers to spend more time focused on providing superior care for consumers."
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
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