CitiusTech Named a Leader and a Star Performer in Everest Group's Payer Digital Services PEAK Matrix Assessment 2023

BusinessWire India
Princeton (New Jersey) [US]/ Mumbai (Maharashtra) [India], January 15: 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.
To know more about CitiusTech's Payer Digital Services offerings, please visit Health Plans.
A complimentary custom copy of the report can be found here.
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