EPAM Unveils Health & Insurance Technology and Consulting Vertical

March 17, 2003

EPAM Systems, Inc., a global provider of software development and outsourcing services, announced the launch of its healthcare practice focusing on IT related projects for health insurers and related organizations.

Traditionally, health organizations have lagged behind other markets with annual IT investments of 2.5 percent of gross revenues versus, for example, 6 percent for financial services according to Gartner analyst Barbara Gomolski in the recent report titled, “Gartner 2002 IT Spending and Staffing Survey Results.”

EPAM has assembled a Health & Insurance Technology and Consulting practice with competencies in key aspects of health insurance operations, including sales and marketing, claims and benefits administration, CRM, content management, and medical cost management. Within these core areas of expertise, EPAM is able to create solutions that are technologically advanced, promote business process optimization, and are regulatory compliant.

EPAM uses an onshore/offshore model to reportedly exceed client expectations at low cost. Led by on-site consultants and managers, EPAM leverages deep industry knowledge with proprietary Web-based project management methodologies and tools to guide the development process. Offshore technology development is performed at two centers in Moscow, Russia, and Minsk, Belarus.

“The EPAM onshore/offshore model is the new paradigm for IT and business process investment in health,” said Richard Osborne, senior vice president of EPAM and the company’s Health & Insurance practice leader.

The EPAM Health & Insurance team will offer a full array of technology and process focused services, from eBusiness strategy and solution design through implementation, integration and ongoing maintenance.

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