TCS a Leader and Star Performer in Healthcare Payer Digital Services: Everest Group

NEW YORK and MUMBAI, India, Feb. 3, 2020 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader and Star Performer in the Everest Group PEAK Matrix® for Healthcare Payer Digital Services¹.

The report highlights TCS' strong healthcare expertise, breadth of services, and strong business focus on top of the technology play to act as a strategic partner for customers, as key strengths. TCS was named a star performer for its multiple alliances and partnerships that strengthen its digital technology offerings, investments in upskilling talent in digital services, multiple customer wins and its ability to deliver transformational value.

"Payers are in a great position to play an anchor role in the reshaping of the healthcare ecosystem – powered by digital technologies. Payers are actively embracing Business 4.0™ behaviors at scale to transform their operating model towards wellness, elevating member experience and reducing cost of care," said Nitin Kumar, Global Head – Healthcare Business Unit, TCS. "Our positioning as a Leader and Star Performer is a validation of our strong vision and ability to drive large scale digital transformations in the healthcare industry. Our significant investments in future ready products, solutions and talent allows us to consistently drive business value for our customers."

TCS collaborates with leading healthcare companies to enable their digital transformation journeys by leveraging its Business 4.0 framework and Machine First™ Delivery Model (MFDM™). It offers a full set of offerings including digital services, IT transformation and operations, consulting, and domain services. TCS' rich industry experience, business and technology services, cross industry solutions and global footprint allows for a seamless partnership with its customers in the healthcare ecosystem.

The company's portfolio of industry-specific proprietary solutions – including TCS Enrollment 360, Analytics-based Health Plan framework, TCS Health 360, ignio^TM for Healthcare, and the Claims Denial Analytics platform – helps payers elevate customer experience, introduce new products faster, enable ecosystem partnerships and drive efficiency in operations with the highest level of quality and compliance.

TCS' experts in the healthcare domain work closely with solution architects to come up with innovative solutions that use a combination of digital front-end technologies, AI/ML, IoT, big data, RPA, cognitive computing capabilities, blockchain, cyber security, social media and cloud to reimagine the healthcare value chain. Additionally, TCS' investments in building the Operating Model Transformation framework, TCS' NY Pace^TM Port to drive co-innovation, and its ability to foster innovation by leveraging its COIN^TM ecosystem for healthcare has boosted its standing in the healthcare industry.

"The healthcare industry is experiencing fundamental changes – including a shift from a volume-based to a value-based care model, the entry of technology players, and the increasing importance of patient-centricity. As a result, payers are adopting digital technologies to enhance their operating models and optimize costs. They are looking for service providers to help navigate challenges such as siloed operations, disconnected information systems, and fragmented member information, to truly focus on breakthrough innovation and value-based care outcomes. TCS is working to become a strategic partner with payers through a platform-led approach (its Value Based Care, Health 360 and Enrollment 360 platforms), leveraging ignio for healthcare and operating model transformation (through its Business 4.0  framework)," said Nitish Mittal, Practice Director, Everest Group.

"Our deep contextual and domain knowledge, investments in building intellectual property with platform solutions aligned to industry needs and efforts to upskill and nurture digital talent, position us as a preferred growth and transformation partner for healthcare enterprises," added Nitin Kumar. 

About Tata Consultancy Services Ltd. (TCS)                                                                                                 

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 446,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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¹ Healthcare Payer Digital Services PEAK Matrix® Assessment with Service Provider Landscape, Nitish Mittal, Everest Group, January 2020

SOURCE Tata Consultancy Services

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