Cognizant’s Expert Support of Medical Device Organizations and Digital Transformation Capabilities Cited in New PEAK Matrix Assessment
Cognizant 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.
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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.
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“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.”
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