Virtusa Expands Healthcare Practice and Extends Industry Expertise
WESTBOROUGH, MA (April 27, 2010) – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad spectrum of business consulting and outsourcing services, today announced a new business solution created specifically to aid healthcare payers, providers and vendors facing a federal mandate to migrate to HIPAA 5010 and ICD-10 diagnosis and procedure code sets.
This migration, driven by policy changes in the American healthcare industry, poses a daunting task to many companies. Several challenges associated with the process are forcing companies to plan for the transition as soon as possible. Companies will face challenges relating to dual usage of codes, integration with partners, education and training, assurance of quality of processes and management of various migration phases. Overall these migration mandates have the potential to affect the entire business cycle, financial performance, and workflows and systems used by healthcare payers and provider organizations.
"The American healthcare industry is going through a number of transitions, including migration mandates, that will forever change the way healthcare companies are run,” said Lee Barrett, Senior Vice President of Healthcare Practice at Virtusa. “Despite these challenges, the end result promises to positively transform the healthcare industry and give participating companies competitive advantages including improved patient care, diagnostic capabilities, accurate claims processing and electronic health records. Utilization of our healthcare expertise and solutions will help these companies smooth the migration process and reap the promised benefits.”
Barrett, who leads Virtusa’s healthcare business unit, has over 20 years of experience working for nationally recognized insurance companies including MassMutual, Travelers, and Aetna. He has held senior level positions in national healthcare practices and has served as the President/CEO of healthcare product companies including Medical Banking Exchange and Claredi Corp. Barrett’s diverse industry experience and wealth of knowledge has positioned him as a thought leader in the healthcare industry and a principal player to lead the way in the healthcare migration mandates.
"We are very excited about the opportunity to interject our expertise and help remedy some of the challenges currently facing the healthcare industry,” said Kris Canekeratne, Chairman and CEO at Virtusa. “Our industry experts and consultants have the unique experience and knowledge necessary to take on a task of this magnitude and complexity, and we are confident companies will be satisfied with the end result.”
Virtusa provides high value-IT services to help clients overcome current industry challenges and achieve their business goals. Virtusa’s expertise lies within, but is not limited to, the areas of business process management (BPM), enterprise content management (ECM), and data warehousing/business intelligence (DW/BI).