Orion Health partners with Cognizant, the largest US health insurance software vendor
Auckland, New Zealand—Orion Health™ (OHE:NZX/ASX) has today signed an agreement with the Cognizant Group (NASDAQ: CTSH), a leading global provider of information technology, consulting, and business process services, enabling Cognizant to deploy Orion Health’s open data platform Amadeus. In addition, Cognizant will be a preferred systems integration partner of Orion Health in the U.S.
Cognizant’s healthcare technology solutions touch over half of the U.S.’s insured population and reach more than 260,000 providers. Cognizant is a Fortune 500 company with presence in over 40 countries, annual revenue of more than $17.9 billion (US $12 billion), and 221,000 employees. Cognizant’s healthcare practice has been consistently ranked among the top 5 on the Healthcare Informatics Top 100. The company serves 16 of the top 20 healthcare insurers in the U.S., 28 of the top 30 global pharmaceutical companies, 9 of the top 10 biotech companies, and 12 of the top 15 medical device companies.
Ian McCrae, Orion Health CEO, says Cognizant’s market position is strong globally and unrivalled in the U.S. insurance sector.
“We are delighted to be collaborating with this world-leading technology provider,” he says.
“Under the agreement Cognizant will OEM Orion Health’s Amadeus Precision Medicine platform and other products such as its Rhapsody Integration Engine. It is a global arrangement but the major focus of the partnership will be the U.S. healthcare insurance market.”
Krish Venkat, President, Healthcare and Life Sciences at Cognizant, says, “Cognizant is developing a new digital healthcare platform – Cognizant Health TranZform™ – that will digitally transform all aspects of the care continuum. Orion Health was chosen because this relationship leverages Orion Health’s deep clinical technology heritage and portfolio,” Mr Venkat says.
“By combining Orion Health’s leading capabilities with Cognizant’s deep insurance expertize and scale, we will be able to build comprehensive healthcare solutions that enable insurers and providers to more efficiently and effectively address complex digital processes at the right time and right place. It will also enable insurers and providers to engage and empower consumers to make more informed decisions about their care and ultimately drive better healthcare outcomes.”
Mr McCrae says the partnership is a significant opportunity for Orion Health. “Cognizant is deploying an impressive suite of new applications for the U.S. market and we are excited to be the preferred partner to provide an underlying platform for this initiative.”
“The U.S. health system is moving to the practice of precision medicine because the current model of healthcare is unsustainable. This creates a significant opportunity for both Orion Health and Cognizant to bring innovative solutions to the market.”
“Orion Health is well-placed to take advantage of this transformation in healthcare with the launch of the Amadeus platform, as this relationship with Cognizant demonstrates. We look forward to working with Cognizant to help healthcare organizations to address complex challenges around improving quality, lowering costs, and delivering a differentiated consumer experience.”
Mr. McCrae says the combined solution will be sold as a subscription service, increasing the company’s recurring revenue, which will lead to greater ongoing cash flow.
“Currently Orion Health’s software manages over 90 million patient health records worldwide. This includes 44 million U.S. patient health records, which makes up around 14% of the U.S. population. It is our stated goal to manage over 20% of a country’s patient health records in strategic markets as we believe this cements our position in that market. The Cognizant partnership announced today will enable us to fast-track our goal in the U.S. much sooner than previously forecast.” Mr. McCrae says.
For more information contact:
Corporate Marketing Manager
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