Author: AbhishekSingh

How to Deliver Hyper-personalized Customer Experiences in Life Sciences | LinkedIn Live

LinkedIn Live

How to Deliver Hyper-personalized Customer Experiences in Life Sciences

View the event on LinkedIn, which was delivered live on Wednesday, February 22, 2023.

The pandemic reshaped customer behavior, making customer experience a top business priority for life sciences enterprises. Enterprises can provide true hyper-personalized customer experiences by evolving their traditional CRM platforms to Customer Experience Platforms (CXP) – delivering more virtual and digital interactions that align with customer preferences.

In the transition to be more experience-focused, enterprises are seeking domain-specific and innovative customer experience solutions, and life sciences-specific commercial technology trailblazers are addressing this very need🌐.

Join this discussion as our experts explore customer experience strategies for life sciences enterprises and the pathways for success.

What questions will the event address?

✅ What are enterprises’ top investment priorities as they look to transform their CRM platforms?
✅ What benefits and challenges might enterprises face as they embark on their CXP journey?
✅ Who are some of the niche life sciences-specific commercial technology trailblazers, and what differentiates them?
✅ Who are the top CXP technology providers?

IT Service Provider 2023 Forecast: The Top 5 Themes for Growth and Wallet Share | Webinar

ON-DEMAND Webinar

IT Service Provider 2023 Forecast: The Top 5 Themes for Growth and Wallet Share

The demand for technology services continues to remain strong, despite being in a recessionary period. However, the nature of these deals is evolving. This webinar will offer service providers insights into the emerging themes, challenges, and growth pockets in the technology services market.

Within technology services, this webinar will deep dive into the top five demand themes – data and AI, cloud, experience, platforms, and security – driving growth for IT service providers in 2023.

We will answer the following questions in this webinar:

  • What are the unique themes driving enterprise consumption in cloud, data and AI, platforms, security, and interactive services, respectively?
  • What are the prominent themes that will drive service provider growth?
  • What should service providers do to gain higher wallet share?

Who should attend?

  • CIOs and CTOs
  • IT service provider executives
  • IT growth leaders
  • IT functional leaders
  • Technology leaders
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Key Themes to Help Analyst Relations Teams Navigate 2023 | An AR-professional Exclusive Webinar

On-Demand Webinar

Key Themes to Help Analyst Relations Teams Navigate 2023 | An AR-professional Exclusive Webinar

Access the on-demand webinar, delivered live on January 12, 2023.

Analyst relations (AR) professionals play an essential role in developing their organization’s agenda around strategic planning and marketing initiatives for 2023. With economic uncertainty ahead, AR teams can help their organizations stay ahead of the curve and ultimately drive new business.

This webinar will prepare AR professionals to influence the thinking of their internal stakeholders on the key trends, dynamics, and likely scenarios to expect in the coming year.

Our speakers will discuss expectations for 2023, including:

  • What should AR professionals focus on as they plan their team’s agendas for 2023?
  • How can AR professionals align with the evolving market dynamics faced by their internal stakeholders

This is an AR-professional exclusive webinar. AR professionals should attend from:

  • IT service providers
  • Technology providers
  • BPS providers
  • Engineering services providers
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Automated Ops – The Mantra for Reliable Digital Infrastructure | Webinar

Catch Everest Group Partner, Abhishek Singh, in this expert panel as he discusses Automated Ops, the benefits it delivers, and the role of ServiceNow as the core.

Register for the webinar

When
Monday, August 8, 2022, at 11:30 am CDT, 12:30 pm EDT, 4:30 pm GMT, 10:00 pm IST

Where
Live, virtual event

Presenters
Abhishek Singh
Partner, Everest Group

Satish Sukumar
SVP – Global Head (Platforms), Microland

Pablo Stern
SVP – Technology Workflow Products, ServiceNow

Vivek Radhakrishnan
SVP – Geo Leader (North America)

Register for the webinar

Top Strategies for Creating an Employee-focused Digital Workplace | Webinar

ON-DEMAND WEBINAR

Top Strategies for Creating an Employee-focused Digital Workplace

Access the on-demand webinar, which was delivered live on May 5, 2022.

The adage “that which does not kill us makes us stronger” fits well for today’s workplace model. Our extreme focus on work from home (WFH) during the pandemic created employee and user experience UX challenges of a different scale. The consequences were severe employee burnout, dwindling organizational citizenship behavior, poor job satisfaction, and increased attrition.

Workplace leaders, like you, are now able to focus more on creating an experience-centric workplace, underpinned by empathy, delivering superior user performance and job satisfaction.

In this on-demand webinar, our experts explore in-depth coverage of the digital workplace segment and outline key UX challenges and mitigation frameworks for UX measurement and management that you can take advantage of today.

The on-demand webinar covers:

  • Complexities associated with measuring UX
  • Key focus areas of a holistic UX measurement framework
  • Key UX challenges and recommendations on moving to an XLA-based pricing model
  • Key recommendations for UX management

Who should attend?

  • CIO
  • CTO
  • CDO
  • Digital workplace leaders
  • IT Infrastructure leaders
  • Sourcing leaders

Revolutionizing Health Care: Fusing Data Analytics & Human-Centered Design | Webinar

Everest Group Partner Abhishek Singh, will join experts from Optum and Fierce Healthcare in this webinar titled Revolutionizing Health Care: Fusing Data Analytics & Human-Centered Design. 

Register for the event

When

Monday, March 14, 2022, at 4:00 pm CDT, 5:00 pm EDT, 10:00 pm GMT, 3:30 am IST

Where

Live, virtual event

Presenters

Abhishek Singh
Partner, Everest Group

Paige Minemyer
Fierce Healthcare

Dan Makoski
Optum

Steve Griffiths
Optum

Register for the event

Oscar Health’s +Oscar Platform May Signal a Turning Point for Healthcare Payer Product Innovation

Product innovation has been lacking in the healthcare payer product space. But can this be changing? Oscar Health’s launch of +Oscar platform may lead to an uptick in new product launches.

Soon after officially going public in March, the US-based digital native health insurer introduced +Oscar, a tech-driven platform business designed to help healthcare clients drive improved efficiency, growth, and engagement with their members and patients. +Oscar offers a cloud-based service architecture and integrated data and analytics layer to serve clients spanning the individual, Medicare Advantage, and group lines of payer business.

What led to this move?

The healthcare payer industry is rapidly changing, marked by a seminal shift to value-based care, rise in consumerism and digitization, and demand for personalized member experience, among other factors. Despite the dynamic nature of the market, the healthcare payer product space has not evolved at the same pace.

With the launch of +Oscar following the January news of Optum’s acquisition of Change Healthcare, the tides could be changing in this space. We expect the spurt already witnessed in product development activities in the payer industry to continue and accelerated product launches to follow.

The payer product/platform space has traditionally been dominated by larger players such as Cognizant (TriZetto Healthcare Products), HealthEdge, and Oracle, which offer productized core administrative platforms. In addition, point solution providers such as Optum (Change Healthcare) and Cotiviti offer solutions addressing one or more segments across the payer value chain. While payers feel most of the available products/platforms lack the essential digital dexterity, we believe that Oscar’s digital native payer platform is one of the significant developments in addressing this issue.

Unpacking +Oscar


Below is the key business value proposition of +Oscar:

Picture1 12

 

What works in Oscar’s favor?

Everest Group conducted focused interviews in the fourth quarter of 2019 with ten senior executives (CIOs and COOs) across the payer spectrum to understand their challenges and approaches to a platform-led modernization approach (read more at A Platform-based Roadmap for Healthcare Payers). Here is how +Oscar aligns to the key themes that we explored in these interviews:

Oscar Health

One of the key takeaways from the executive conversations was increasing traction toward an affiliate partner model. An affiliate partner model offers multiple benefits such as combined resources and domain expertise to drive innovation, shared ownership of innovation risk, and economies of scale to drive down costs. Having a payer affiliate as an IT partner is advantageous for healthcare plans (specifically for the small ones), as the partner understands their culture and business dynamics better. Hence, the affiliate model that Oscar Health offers makes +Oscar more relevant in the market.

What’s next?                                                              

With the payer technology market witnessing a strong nudge to innovate, we believe the launch of +Oscar is an indicator of the things to come. With BigTechs (Amazon, Microsoft, Salesforce, ServiceNow) making big bets in the core healthcare segment (Amazon HealthLake and the Microsoft Nuance deal) and digital native payers externalizing their technology, traditional product vendors will need to up their games to remain competitive.

We are positive about this investment by Oscar Health. However, it remains to be seen how Oscar leverages an affiliate partner model as well as addresses the main issue of Return on Investment (RoI) to build a valid business case for +Oscar.

Reach out to us at [email protected] or [email protected] with your thoughts.

Microsoft Goes All in on Industry Cloud and AI with $20 Billion Nuance Deal | Blog

Yesterday’s announcement of Microsoft’s acquisition of Nuance Communications signifies the big tech company’s serious intentions in the US healthcare market.

We’ve been writing about industry cloud and verticalization plays of big technology companies (nicknamed BigTech) for a while now. With the planned acquisition of Nuance Communications for US$19.7 billion, Microsoft has made its most definitive step in the healthcare and verticalization journey.

At a base level, what matters to Microsoft is that Nuance focuses on conversational AI. Over the years, it has become quite the phenomenon among physicians and healthcare providers – 77 percent of US hospitals are Nuance clients. Also, it is not just a healthcare standout – Nuance counts 85 percent of Fortune 100 organizations as customers. Among Nuance’s claims to fame in conversational AI is the fact that it powered the speech recognition engine in Apple’s Siri.

Why Did Microsoft Acquire Nuance?

The acquisition is attractive to Microsoft for the following reasons:

  1. Buy versus build: If Microsoft (under Satya Nadella) can trust itself to build a capability swiftly, it will never buy. Last year, when we wrote about Salesforce’s acquisition of Slack, we highlighted how Microsoft pulled out of its intent to acquire Slack in 2016 and launched Teams within a year. Could Microsoft have built and scaled a speech recognition AI offering?
  2. Conversational AI: Microsoft’s big three competitors – Amazon, Apple, and Google – have a significant head start in speech recognition, the only form of AI that has gone mainstream and is likely to be a US$30 billion market by 2025. Clearly, with mature competition, this was not going to be as easy as “Alexa! Cut slack, build Teams” for Nadella
  3. Healthcare: This is another battleground for which Microsoft has been building up an arsenal. As the US continues to expand on its $3 trillion spend on healthcare, Microsoft wants a share of this sizeable market. That is why it makes sense to peel the healthcare onion a bit more

 

What Role Does Microsoft Want to Play in Healthcare?

While other competitors (read Amazon, Salesforce, and Google) were busy launching healthcare-focused offerings in 2020, Microsoft was already helping healthcare providers use Microsoft Teams for virtual physician visits. Also, Microsoft and Nuance are not strangers, having partnered in 2019, to enable ambient listening capabilities for physician to EHR record keeping. Microsoft sees a clear opportunity in the US healthcare industry.

  • Everest Group estimates that technology services spending in US healthcare will grow at a CAGR of 7.5% for the next five years, adding an incremental US$25 billion to an already whopping $56 billion
  • The focus of Microsoft and its competitors is to disrupt the multi-billion ($40 billion by 2025) healthcare data (Electronic Medical Record) industry
  • Erstwhile EMR has been a major reason for physician burnout, which the likes of Nuance aim to solve
  • Cloud-driven offerings such as Canvas Medical and Amazon Comprehend Medical are already making Epic Systems and Cerner sit up and take notice

It is not without reason that Microsoft launched its cloud for healthcare last year and has followed it up by acquiring Nuance.

What Does it Mean for Healthcare Enterprises?

Under Nadella, Microsoft has developed a sophisticated sales model that takes a portfolio approach to clients. This has helped Microsoft build a strong positioning beyond its Office and Windows offerings even in healthcare. Most clients in healthcare are already exposed to its Power Apps portfolio and Intelligent Cloud (including Azure and cloud for healthcare) in some form. It is only a question of time (if the acquisition closes without issues) until Nuance becomes part of its suite of offerings for healthcare.

What Does it Mean for Service Providers?

As a rejoinder to our earlier point about head starts, this is where Microsoft has a lead over competitors. Our recent research with System Integrators (SI) ecosystem indicates that Microsoft is head and shoulders above its nearest competitors when it comes to leveraging the SI partnership channel to bring its offerings to enterprises. This can act as a significant differentiator when it comes to taking Nuance to healthcare customers as SI partners can expect favorable terms of engagement.

Partners' Perceptions

Lastly, this is not just about healthcare

While augmenting healthcare capabilities and clients is the primary trigger for this purchase, we believe Microsoft aims to go beyond healthcare to achieve the following objectives:

  • Take conversational AI to other industries: Clearly, healthcare is not the only industry warming up to conversational AI. Retail, financial services, and many other industries have scaled usage. Hence, it is not without reason that Mark Benjamin (Nuance’s CEO) will report to Scott Guthrie (Executive Vice President of Cloud & AI at Microsoft) and not Gregory Moore (Microsoft’s Corporate Vice President, Microsoft Health), indicating a broader push
  • Make cloud more intelligent: As mentioned above, Microsoft will pursue full-stack opportunities by combining Nuance’s offerings with its Power Apps and Intelligent Cloud suites. As a matter of fact, it plans to report Nuance’s performance as part of its Intelligent Cloud segment

Microsoft: $2 Trillion and Beyond

This announcement comes against the background of BigTech and platform companies making significant moves to industry-specific use cases, which will drive the next wave of client adoption and competitive differentiation. Microsoft’s turnaround and acceleration since Nadella took over as CEO in 2014 are commendable (see the image below). It is on the verge of becoming only the second company to achieve $2 trillion in market capitalization. This move is a bet on its journey beyond the $2 trillion.

Picture2 5

What do you make of its move? Please feel free to reach out to [email protected] and [email protected] to share your opinion.

The Buzz and Promise around TCS’ New Tagline | Blog

What’s in a brand tagline? These catchy slogans with only a few words can say a lot about a company and its future direction.

With the announcement by TCS (Tata Consultancy Services) on March 30 of its new brand statement, this leading IT services, consulting, and business solutions organization has created quite a bit of buzz moving to “Building on Belief” from “Experience Certainty.”

While customers and competitors alike recognize that TCS has been true to its original tagline with its execution efficiency, pragmatic expectation setting, and adherence to contractual commitments, a change was needed after 15 years.

Why change now?

As all global organizations pivot to uncertain environments, preparing for a nebulous future has become everyone’s new mantra. The rebranding was long overdue. Although TCS may be a known brand in execution, in honesty, it is not recognized for owning risks or thriving in abstract situations.

Also, we have seen most of the competition already aligned to the “pivot to the fuzzy future” notion with taglines such as:

  • Infosys: “Navigate your next”
  • Accenture: “Let there be change”
  • Capgemini: “Get the future you want”
  • Wipro: “Empowering a resilient future”

It was just a matter of time before TCS as one of the industry leaders (it was ranked second in this year’s annual ITS Service Provider of the Year awards) would respond to this market dynamic.

What’s the buzz all about

Any brand expert will tell you that in branding, boring means dead. However, if folks are debating anything related to your brand (as long as it is not damning), it is creating what is called a buzz.

And word of mouth about this tagline is that it is way too abstract for a firm that has stood for “experience certainty.”

In the analyst community, some of my peers went so far as to suggest that TCS has perhaps “overshot the mark here,” with several in the community posing such pertinent questions as:

  • Is TCS asking clients to “believe” in it?
  • Is TCS expecting clients to “build” a business case for the future based on “beliefs”?

The most interesting part of this tagline right now is that everybody is debating it. Because of the conversation, in no time, the new TCS tagline is poised to reach a far larger audience than would normally follow this news. Whether or not TCS consciously thought of this strategy, it’s a brilliant move.

Tagline thoughts

Back to the controversy – has TCS overshot its mark by going for something too abstract? My assessment gives TCS the benefit of doubt. Here is why: Most high-end problem-solving in this world starts with an initial hypothesis (“belief”). As the journey proceeds, facts are collected that prove or disprove that premise to arrive at a solution.

In my opinion, TCS wants to convey the mutual trust it has with its clients to solve problems together and transform their businesses. Let’s remember that “belief” is an important component that keeps us on track when dealing with many of today’s fuzzy concepts such as blockchain, quantum computing, and cognitive, to name a few.

Net-net: TCS is already known for execution or “building.” Its new mission statement, “Building on Belief,” communicates its intention to execute while taking risk ownership, which is essential in these times. Given that TCS lived up to its last tagline, I have confidence it will work hard to make its brand promise more than just an interesting slogan to talk about and a new reality.

Amazon HealthLake: A Step Further in AWS’ Healthcare Strategy | Blog

It’s been close to a month since Amazon Web Services (AWS) announced Amazon HealthLake at its 2020 annual (and virtual) conference. After observing the reactions from various industry participants, we thought it was time to offer our opinion.

Amazon HealthLake is a HIPAA-eligible service that aims to support interoperability standards and further drive the use of big data analytics in healthcare and life sciences. The service is essentially a data lake tailored for the healthcare and life sciences industry. It will aggregate an organization’s data across various silos and disparate formats into a centralized AWS data lake, and automatically normalize this information using machine learning. It will be capable of identifying each piece of clinical information and tagging and indexing events in a timeline view with standardized labels so they can be easily searched. This structured data can then be offloaded to a service such as Amazon SageMaker to train machine learning models for advanced analytics. HealthLake will also structure all the data into the Fast Healthcare Interoperability Resources (FHIR) industry standard format to enable data sharing throughout the organization.

Exhibit 1: Amazon HealthLake

Amazon HealthLake

Source: AWS (https://aws.amazon.com/healthlake/)

What’s in it for the healthcare and life sciences industry?

This is definitely a positive step for AWS to showcase an industry-specific solution for its clients and prospects. Amazon HealthLake provides a contextualized solution for addressing some critical challenges the healthcare and life sciences industry is facing, namely working with siloed, unstructured, and incomplete data stored across multiple systems, lab reports, medical images, insurance claims, and time-series data (for example, heart ECG or brain EEG traces.) Putting data at the center of the business allows the development of innovative products and services and provides the opportunity to revolutionize business models. AWS’s approach enables healthcare industry professionals to focus on mission-critical activities while it manages the data complexity.

Some of the key use cases for HealthLake include:

  • Payers – HealthLake will help health insurance companies predict more accurate insurance premiums, design data-driven insurance policies, and carry out effective claims management by bringing together a complete view of a patient’s medical history.
  • Providers – Healthlake can integrate with other AWS machine learning and analytics services, like Amazon SageMaker and QuickSight, to improve efficiency and reduce hospital waste. Some of the core use cases include population health management, clinical decision support, revenue cycle management, scheduling optimization, reducing unnecessary procedures, and addressing privacy and security requirements.
  • Pharma/Biotech – Clinical researchers are struggling with ever-increasing volumes of data from trial sites, patients, CROs, and other vendors, as well as from newer resources like EHR and wearable technology. HealthLake can help life sciences enterprises revolutionize data-driven R&D, advance clinical research with predictive analytics, and enhance pharmacovigilance.

HealthLake fits perfectly in Amazon’s data-hinged healthcare strategy

Amazon is aiming to transform healthcare by putting a well-developed range of integrated technology solutions supported by a second-to-none data asset, similar to its disruptive approach in the retail industry with low costs, high customer convenience, and a great recommendation engine. A key prong of its strategy is healthcare cloud computing, as payers, providers, and life sciences enterprises adopt more cloud computing services to stay on top of the rising volume of patient data.

Amazon HealthLake is another sign that AWS views healthcare as an industry with massive growth potential for its cloud services. AWS has been steadily rolling out HIPAA-eligible computing tools over the past few years in a race with Google Cloud and Microsoft Azure as the industry cloud war intensifies in the nascent healthcare cloud computing space. ​In 2019, the company announced Amazon Transcribe Medical, a voice transcription service for physicians that inputs text directly into medical records. In 2018, it introduced Amazon Comprehend Medical, a service that uses AI to mine medical records for information that can be used to improve patient treatment and reduce costs.

While AWS’s long-term strategy for healthcare is anyone’s guess right now, it will certainly be an interesting player to watch as well as an exciting one to partner with and compete against.

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