CitiusTech Named a Leader and a Star Performer in Everest Group’s Payer Digital Services
CitiusTech, a leading
provider of healthcare technology services, solutions, and platforms, announced
that it has been positioned as a Leader and a Star
Performer in the Everest Group’s Payer Digital
Services PEAK Matrix® Assessment for 2023.
The report analyzed 32 leading
healthcare IT service providers on capabilities in healthcare payer digital
services and market impact. It focused on payer digital services market size
and growth, digital services themes for healthcare payers, assessment of the
service providers on several capabilities and market success-related
dimensions, and Everest Group’s independent remarks on service providers.
“It is with great pride that we announce our designation as both a
Leader and a Star performer within the Everest Group's Healthcare Payer Digital
Services PEAK Matrix. Healthcare Payers currently navigate a myriad of
substantial challenges, ranging from traditional issues such as labor
intensity, isolated solutions, accrued technological deficits, to modern
challenges such as Medicare Advantage business models, vertical integration,
interoperability, value-based care, and AI, among others. This accolade underscores
our continued disruption in the Payer Digital Services sector over the last six
years since forming the unit and affirms our commitment to enhancing value to
our clients in these multi-faceted domains,” said Shyam Karunakaran,
EVP – Health Plans, CitiusTech.
"With the healthcare industry undergoing significant changes,
payers are adopting digital technologies such as AI, cloud, and analytics to
enhance their business outcomes," stated Priya Sahni, Practice
Director, Everest Group. "With its comprehensive range of offerings
throughout the value chain, CitiusTech has empowered its clients to achieve
operational efficiency and cost-effectiveness. The company's profound domain
expertise, high-quality talent pool, and strategic acquisitions and partnerships
(e.g., OutSystems, Databricks) aimed at enhancing its capabilities have led to
its positioning as a Leader and a Star Performer in Everest Group's Healthcare
Payer Digital Services PEAK Matrix® Assessment for 2023."
As per the report, CitiusTech has
demonstrated considerable year-on-year (YoY) growth in payer digital services
revenue, driven by engagements with mid-sized and large payer accounts. Its
domain and technical expertise, and innovative price constructs have led to
high client satisfaction. The report also notes that CitiusTech has made
significant investments to augment its digital capabilities in the areas of big
data and cloud; and launched a cloud platform, Perform+ Datascale, to increase
interoperability and streaming of data exchanges. The company’s other
proprietary solutions include PERFORM+ Contracts, PERFORM+ Stars, PERFORM+
Regulatory, MRFEngine, and RealSight.
Everest Group’s Payer Digital
Services PEAK Matrix® assessment report notes that providers are forging
industry-specific partnerships and acquiring relevant companies to support
enterprises on their digital transformation journeys. This has driven the need
for research and market intelligence on demand and supply trends in healthcare
payer digital services. Everest Group’s healthcare ITS research program
addresses this market need by analyzing demand themes and service provider
capabilities in healthcare payer digital services.
More recently, CitiusTech has a
generative AI Centre of Excellence that helps healthcare clients adopt and
scale gen AI and solve complex problems of service delivery, operations, and
customer business transformation for health plans. The company’s internal
crowd-sourced initiative, Innovation for Accelerated Growth (IAG 2.0) aims at
nurturing innovation across themes such as predictive analytics, population
health, generative AI, interoperability, quality management and IoT. The
strategic acquisition of industry-leading, healthcare-focused Salesforce
services and solutions company, Wilco Source, expands CitiusTech’s Salesforce
offerings in the areas of member experience, care management, digital front
door, and patient services.
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