|By PR Newswire||
|February 25, 2014 06:00 AM EST||
TEANECK, N.J., Feb. 25, 2014 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has enabled Fallon Health, a Massachusetts-based not-for-profit health care services organization, to become the first Massachusetts health insurer to provide quotes for merged market plans mandated by the Affordable Care Act (ACA).
As Fallon's strategic partner, Cognizant developed and deployed a new online quoting tool called QuoteNow that facilitates best-practice quoting, rating and underwriting, and streamlines application submission and enrollment. Built using Pegasystems technology, QuoteNow helps Fallon deliver an optimal experience to consumers as well as insurance brokers, while complying with ACA requirements around member-level rating and conducting Health Insurance Exchange activity more effectively. QuoteNow makes it easier for Fallon to implement new automated processes and manage changes based on regulatory demands.
By helping Fallon to successfully exchange HIPAA-compliant electronic information with the Massachusetts Health Connector within a record time of five months, Cognizant enabled Fallon to accept applications and enroll members from the open enrollment date of October 1, 2013.
"This engagement forms an important part of our roadmap to automate our business processes for superior service and better regulatory preparedness," said Frank Barresi, Chief Information Officer of Fallon Health. "A project of such high complexity would have taken well over a year, but we had just five months to launch date. Cognizant worked with us as a trusted partner and delivered a fully functional application right on time and the capabilities our business needed. We are impressed with Cognizant's agile and seamless execution of the project. Our relationship with Cognizant has allowed us to leverage its extensive domain, technology and consulting capabilities to drive innovation in supporting the diverse and changing healthcare needs of the populations we serve. QuoteNow has helped Fallon establish a foundation to support other critical health plan capabilities and in the process develop best practices for an efficient delivery model."
"We are pleased to help Fallon Health define new industry benchmarks and enhance its competitiveness, while keeping up with regulatory requirements and improving consumer satisfaction," said Krish Venkat, President of Cognizant's Healthcare and Life Sciences practice. "Dramatic shifts in consumer behavior and expectations, coupled with regulatory changes and commoditization of services, have opened a great opportunity for insurers to not just 'run better' by improving efficiency and productivity, but also 'run different' by driving transformation and disruptive change. We look forward to further solidifying our relationship with Fallon and helping it build the required capabilities to rapidly optimize and redesign business processes in response to the needs of its expanding, increasingly complex business."
About Fallon Health
Founded in 1977, Fallon Health is a leading health care services organization that supports the diverse and changing needs of those we serve. In addition to offering innovative health insurance solutions and a variety of Medicaid and Medicare products, we excel in creating unique health care programs and services that provide coordinated, integrated care for seniors and individuals with complex health needs. Fallon has consistently ranked among the nation's top health plans, and is the only health plan in Massachusetts to have been awarded "Excellent" Accreditation by the National Committee for Quality Assurance for its HMO, Medicare Advantage and Medicaid products. For more information, visit www.fallonhealth.org.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 171,400 employees as of December 31, 2013, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Jul. 6, 2015 12:00 PM EDT Reads: 910
Jul. 6, 2015 11:45 AM EDT Reads: 199
Jul. 6, 2015 11:45 AM EDT Reads: 2,549
Jul. 6, 2015 11:45 AM EDT Reads: 2,024
Jul. 6, 2015 11:30 AM EDT Reads: 2,296
Jul. 6, 2015 11:30 AM EDT Reads: 1,635
Jul. 6, 2015 11:15 AM EDT Reads: 2,125
Jul. 6, 2015 11:15 AM EDT Reads: 1,688
Jul. 6, 2015 11:15 AM EDT Reads: 1,417
Jul. 6, 2015 11:15 AM EDT Reads: 1,604
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Jul. 6, 2015 11:00 AM EDT Reads: 2,511
SYS-CON Events announced today that Intelligent Systems Services will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ ...
Jul. 6, 2015 11:00 AM EDT Reads: 644
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing system...
Jul. 6, 2015 11:00 AM EDT Reads: 2,044
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development...
Jul. 6, 2015 10:45 AM EDT Reads: 1,700
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Jul. 6, 2015 10:30 AM EDT Reads: 1,391