Cognizant Named a Leader in Medical Devices Digital Services by Everest Group

Rhea-AI Summary

Cognizant (Nasdaq: CTSH) has been recognized as a Leader in Everest Group's Medical Devices Digital Services PEAK Matrix® Assessment 2020. The report evaluates 21 global IT service providers based on innovation, market success, and service scope. Cognizant's investments in digital solutions enhance human-centric design and improve patient outcomes. A case study revealed a 10% increase in satisfaction for a diabetes support program, while operational costs decreased. Everest Group noted Cognizant's strong client relationships and commitment to digital transformation in the rapidly growing medical devices market.

Positive

• Recognized as a Leader in Everest Group's assessment, enhancing brand reputation.
• Ongoing investments in digital solutions improve capabilities in medical devices.
• Demonstrated ability to improve patient outcomes and reduce costs (10% satisfaction increase).
• Strong client relationships based on industry knowledge and communication.

Negative

• None.

TEANECK, N.J., Sept. 22, 2020 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) has been recognized as a Leader in analyst firm Everest Group's Medical Devices Digital Services PEAK Matrix® Assessment 2020. The new report analyzes the capabilities and market success of 21 global IT service providers focused on life sciences and medical devices digital services. Cognizant distinguished itself for its full scope of services, innovation, market adoption, vision, investments, and value of solutions delivered.

According to Everest Group's findings, Cognizant's ongoing investments in the medical devices market have significantly strengthened the company's digital solutions and human-centric design capabilities that help improve patient outcomes. By leveraging technology, such as Internet of Medical Things (IoMT) and Software as a Medical Device (SaMD), Cognizant is playing a critical role in helping companies manage the new world of digital surgery, Point-of-Care diagnostics, and value-based care. In one engagement, Cognizant helped a top global medical device company overhaul its support for patients diagnosed with Type 1 diabetes, improving member satisfaction by 10% while reducing year-over-year operational costs.

Everest Group also highlighted Cognizant's ability to build long-standing relationships with its clients as a primary strength – based upon the company's industry knowledge, strong communications, and access to consistent talent.

"The medical devices digital services market is expected to grow up to three times faster than the overall medical device IT services market," said Chunky Satija, Practice Director, Everest Group. "Companies that can provide innovative digital solutions to reduce product development timelines while managing compliance are poised to lead this market. Cognizant has demonstrated its ability to respond to this growing need through its focus on end-to-end patient outcomes, commercial partnerships, and its ability to quickly respond to new and changing government regulations."

"We believe in co-innovating with our clients to implement digital solutions that improve patient outcomes, streamline business operations, and drive long-term growth," said Srinivas Shankar, Senior Vice President and Global Head for Cognizant's Life Sciences business. "We are honored to be recognized by Everest Group for our commitment to helping our clients meet their digital transformation goals."

View an extract of the Everest Group PEAK Matrix Report: https://www.cognizant.com/Resources/everest-group-medical-devices-digital-services-peak-matrix-assessment-2020-cognizant-focus-profile.pdf

Learn more about Cognizant Life Sciences Technology Solutions: https://www.cognizant.com/life-sciences-technology-solutions

About Cognizant

Cognizant (Nasdaq-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating, and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 194 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.

 

 

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SOURCE Cognizant

FAQ

What recognition did Cognizant receive from Everest Group?

Cognizant was named a Leader in the Medical Devices Digital Services PEAK Matrix® Assessment 2020.

What factors contributed to Cognizant's leadership position in the report?

Cognizant's innovation, market adoption, service scope, and investments in digital solutions were key factors.

How did Cognizant improve patient outcomes in its engagements?

Cognizant helped a global medical device company enhance diabetes support, resulting in a 10% increase in patient satisfaction.

What is the expected growth of the medical devices digital services market?

The market is projected to grow up to three times faster than the overall medical device IT services market.

What is Cognizant's strategy in the medical devices sector?

Cognizant focuses on co-innovating with clients to improve patient outcomes and streamline operations.