Cognizant leads declines, Infosys grows health care share this year
Business
Big names like Cognizant, Wipro, and HCL are seeing less money come in from their health care clients this year.
Cognizant had the steepest drop, while Infosys actually managed to grow its share in this sector, going against the trend.
US regulations, costs curb health IT
A mix of new US regulations and rising medical costs is making health care companies more cautious with their tech budgets.
Cognizant's CEO Ravi Kumar mentioned that changes to Medicare and Medicaid funding have slowed down IT spending.
With clients delaying projects and shifting focus toward cloud and AI instead of traditional IT services, these firms are having to rethink how they work in the health care space.