Health Plan Migrates Financial Operations and Business Processes to Oracle’s Cloud
Cognizant (Nasdaq: CTSH) announced its work with New York City based health insurance provider EmblemHealth, one of the largest non-profit health insurers in the U.S., to consolidate all of its applications and operations using Oracle Cloud Applications.
EmblemHealth is at the forefront of change and committed to finding new ways to deliver quality care at affordable prices. The company began working with Cognizant in 2016 to transform and modernize their entire technology infrastructure and business processes. By migrating and consolidating disparate, outdated legacy applications to Oracle’s single integrated platform across its finance, human resources and supply chain systems, EmblemHealth will be able to reduce costs, capitalize on emerging business models, create new sources of revenue, and better support the complex needs of providers.
“As a not for profit health plan, we are committed to reinvesting in our members and all who depend on EmblemHealth,” said Tom MacMillan, Chief Information Officer of EmblemHealth. “We partnered with Cognizant to help us reimagine and digitally transform our infrastructure and processes to make it easier for our partners to work with us and access the resources they need, when they need them. Our transition to Oracle’s full suite of cloud services is a key achievement in our long-term strategy with Cognizant to digitally transform our business.”
“Healthcare organizations need to become more agile than ever before in order to meet ever changing customer expectations and stay ahead of a rapidly changing competitive landscape,” said Camillo Speroni, Vice President, WW Strategic Alliances, Oracle. “With Oracle Cloud Applications, EmblemHealth will move to an innovative platform that will modernize their processes and prepare them for future growth.”
“As the market transitions to digital solutions that offer enhanced transparency and engagement, operations must be planned out appropriately to navigate the often expensive and disruptive shift to cloud technology, mobile-platforms, and analytics-driven software,” said Kaushik Bhaumik, Executive Vice President and Global Leader of Healthcare at Cognizant. “The decision to implement the full suite of Oracle Cloud Applications at one time reduced the impact on operations and has ensured EmblemHealth is prepared to meet the demands of tomorrow’s digital world. As the healthcare industry continues to evolve to better value-based outcomes, EmblemHealth has taken the proactive and necessary steps to begin transforming their business to effectively compete, grow, and adapt to the needs of tomorrow’s customers.”