Everest Group Names Virtusa Major Contender in 2014 Healthcare Payer ITO PEAK Matrix™

Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that it has recently been named a Major Contender in the healthcare payer IT outsourcing PEAK Matrix by Everest Group, an advisory and research firm on global services. This is the first year Virtusa has been ranked in this category, making the leap from the Emerging Player category in the previous year.

Everest Group evaluated 18 global healthcare payer IT service providers in the recently released report IT Outsourcing in Payer Industry – Service Provider Landscape with PEAK Matrix™ Assessment 2014: Rise of the Challengers

The in-depth report, issued annually, measures service providers on its proprietary Performance, Experience, Ability and Knowledge (PEAK) Matrix. According to the report, Everest Group determines that Major Contenders, who also happen to be competing with Leaders at a certain level, are also bearing the brunt of the heightened competition. They are steadily ramping up their capabilities or improvising strategies to remain competitive in the arena.

“Payer industry IT outsourcing is steadily maturing from largely regulations-driven IT investments to a more elaborate consumer-focused technology strategy” said Abhishek Singh, Practice Director, Everest Group. "In this scenario, Virtusa has grown in significance by focusing on industry-specific solutions and stronger service capabilities”

“We are delighted to be named as a Major Contender in the healthcare payer ITO report. The changing regulatory landscape and growth of retail consumers is driving healthcare payer clients to evaluate new models to reduce overall medical costs and generate growth. Our healthcare payer clients are embracing Virtusa’s solutions and optimized delivery models to achieve those objectives,”said Anthony Lange, vice president-Healthcare, Virtusa. “In this changing paradigm, our team members have delivered exceptional results for our clients – results our clients rely on to achieve market-leading positions.”

Virtusa’s healthcare solutions and services enable its clients – health plans, providers, service providers, and software vendors within the healthcare sector – to transform their business by optimizing operations to gain efficiencies, and expanding target audiences by delivering a distinctive millennial and consumer engaging experience.

By leveraging over 10 years of healthcare industry experience, Virtusa has been able to successfully deliver solutions to several Fortune 1000 companies. Its global team comprises multi-skilled, domain experts who add value to our clients by leveraging key partnerships and platforming heritage. The company’s strong industry and consulting focus combined with a right sized workforce enables it to deliver superior customer experience and better business outcomes to its clients.

To learn more about Virtusa’s healthcare practice, please visit http://www.virtusa.com/industries/healthcare/segments/healthcare-providers/

About Virtusa

Virtusa provides end-to-end information technology (IT) services to Global 2000 companies. These services, which include IT consulting, application maintenance, development, systems integration and managed services, leverage a unique Platforming methodology that transforms clients’ businesses through IT rationalization. Virtusa helps customers accelerate business outcomes by consolidating, rationalizing, and modernizing their core customer-facing processes into one or more core systems.

Virtusa delivers cost-effective solutions through a global delivery model, applying advanced methods such as Agile and Accelerated Solution Design to ensure that its solutions meet the clients’ requirements.  As a result, its clients simultaneously reduce their IT operations cost while increasing their ability to meet changing business needs.

Founded in 1996 and headquartered in Massachusetts, Virtusa has operations in North America, Europe, and Asia.

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Matt Weaver    

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