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Founded in 1997, The TriZetto Group, Inc., is an information technology and services company focused on the healthcare industry.
The name TriZetto is derived from an Italian musical term, terzetto, which is a composition consisting of three parts. Similarly, TriZetto seamlessly blends the three essential technology and service components - infrastructure, primary applications and information access and reporting - to create a complete solution that works for your organization.
2006
August - TriZetto announced that its personal health record technology, Personal CareAdvance®, will be used in a six-month feasibility test for the Centers for Medicare and Medicaid Services (CMS). The government ran only two such tests to determine how best to transform CMS claims data into personal health records that offer value to both Medicare beneficiaries and their care providers.
February - TriZetto announces its first full profitable year, with diluted earnings per share EPS) for the full year 2005 of $0.48, on revenue of $292.2 million. EPS performance was $0.03 better than the high end of the company's guidance range and represents an increase of 167 percent over full-year 2004 EPS.
TriZetto's outstanding results for 2005 and strong expectations for 2006 demonstrate the company’s leadership position at the confluence of some of the most dramatic changes that the healthcare industry has experienced in 20 years.
2005
January - Blue Cross Blue Shield of Tennessee selects TriZetto CareAdvance™ Enterprise, powered by CareKey™, as its single platform for automating case, disease and population management.
TriZetto reports its first full profitable year, earning $0.18 per share on revenue of $274.6 million in 2004. Annual new-contract bookings increased 45 percent over the prior year, to $335 million.
March - TriZetto introduces Facets e2 CDH Suite, an integrated solution that delivers the full range of capabilities necessary to cost-effectively implement and administer consumer-directed health plans.
May - TriZetto announces the availability of FastTrak, which enables Medicare and Medicaid health plans to quickly get up and running on Facets e2.
December - TriZetto announces it has completed the acquisition of privately held CareKey Inc., a leading provider of advanced care management software. The combination expands TriZetto's market opportunities and increases its customers' ability to improve the cost and quality of care for their members.
2004
January - The Regence Group and TriZetto announce a seven-year hosting agreement under which Regence will move its members to Facets e2. TriZetto will host Facets e2 and the HealthWeb Suite on behalf of Regence.
February - TriZetto reports $290 million in revenue for 2003, up 9 percent from 2002.
March - John Muir/Mt. Diablo Health System becomes the fifth organization in the last two years to select Facets e2 to replace a legacy Amisys system.
May - TriZetto introduces CareAdvance Enterprise™, powered by CareKey™. This software application involves consumers more directly in their healthcare by enhancing and automating the entire care management spectrum-case, disease and population management.
November - Kathleen Earley, an AT&T executive, joins TriZetto as president and chief operating officer.
TriZetto announces the availability of DirectLink™, which provides secure, direct connectivity between payers' back-office systems and their constituents' systems.
December - TriZetto's NetworX™ Suite is recognized as the "Most Innovative Use of Technology to Improve Claims Processing" at The Emerging Technologies and Healthcare Innovations Congress.
TriZetto completes the purchase of more than 12.1 million shares of TriZetto common stock held by IMS Health, Inc.
2003
January - TriZetto announces a software license agreement with Blue Cross and Blue Shield of Louisiana. BCBSL is the 14th Blues plan to become a customer of TriZetto, which now serves one-third of the nation's Blue Cross and Blue Shield organizations.
March - TriZetto introduces Facets Extended Enterprise™ (Facets e2™), a major expansion of its administrative system for health plans. This expanded administrative system helps health plans anticipate industry change and improve service to consumers.
September - TriZetto opens the TriZetto Solution Center, a live representation of how TriZetto's technology and services enable health plan organizations to operate in an environment that is highly efficient and customer-centric, offering real-time connectivity and instant access to key information.
October - Deloitte & Touche, for the second consecutive year, names TriZetto one of the 500 fastest-growing technology companies in the United States.
November - TriZetto introduces NetworXModeler™, a software application that predicts the financial impact of new or revised provider contracts.
December - TriZetto announces the availability of the Facets e2 Workflow application, which automates manual processes and streamlines workflows.
2002
January - TriZetto announces a $32 million, six-year comprehensive outsourcing agreement with M-Plan, an HMO based in Indianapolis.
February - TriZetto announces revenue of $218 million for 2001, up 145 percent from 2000 revenue. Fourth quarter 2001 revenue was $61.6 million, up 80 percent from the $34.2 million reported in the fourth quarter of 2000, an increase primarily driven by organic growth of 49 percent.
April - TriZetto achieves the milestone of its systems' being contracted to serve more than 100 million healthcare payer members.
TriZetto announces a $28 million, five-year hosting agreement with the Specialized Care Services (SCS) division of UnitedHealth Group.
August - TriZetto is named the largest application service provider (ASP) in the world, based on 2001 hosted software revenue, by IDC, a global market intelligence and advisory firm.
October - TriZetto is named second-fastest growing technology company in Deloitte & Touche's "Fast 50" program. The five-year growth rate is 8,561 percent.
2001
January - TriZetto signs a first-of-its-kind agreement with the Blue Cross and Blue Shield Association, to enable Facets to integrate with the Blues' ITS system.
February - TriZetto announces revenue of $89.1 million for 2000, up 171 percent from 1999 revenue. The percentage of revenue derived from recurring sources reaches 69 percent in 2000, up from 59 percent in 1999.
April - TriZetto acquires INFOTRUST Company, a subsidiary of TRUSTCO Holdings.
May - Analyst firm IDC ranks TriZetto as the No. 1 healthcare ASP and the No. 2 overall ASP worldwide.
July - TriZetto announces a seven-year, $100 million ASP contract with Altius Health Plans of Utah. TriZetto also purchases Altius' service center in Salt Lake City.
In its second-quarter 2001 earnings statement, TriZetto announces that it has achieved positive EBITDA (earnings before interest, taxes, depreciation and amortization), an important milestone on the company's path toward profitability.
2000
January - TriZetto acquires Health Media Enterprises (HME), a Petaluma, Calif.-based Internet development company.
September - TriZetto acquires approximately 40 employees from Maxicare, the result of a seven-year, $50 million contract with the health plan.
October - TriZetto acquires Erisco, Inc., producer of the nation's leading managed care application.
November - Facets benchmark demonstrates scalability beyond 4 million members.
December - TriZetto acquires RIMS, the nation's largest provider of automated claims-processing technology and services for the benefits administration market. TriZetto now has approximately 1,500 employees and 600 customers.
1999
February - In simultaneous transactions, TriZetto acquires two Texas firms, Creative Business Solutions, Inc., and HealthWeb® Systems, Ltd.
March - TriZetto acquires Management and Technology Solutions (MTS), of Louisville, Ky., and integrates MTSNet - a portal product helping physician offices communicate with each other, health plan offices and hospitals - with its HealthWeb product.
August - Healthcare Informatics names TriZetto one of the fastest-growing healthcare IT companies in the country.
TriZetto files a registration statement with the Securities and Exchange Commission for an initial public offering (IPO).
October - TriZetto's IPO raises approximately $37.5 million.
November - TriZetto acquires Novalis Corp., an Albany, N.Y.-based provider of applications services for the healthcare industry.
December - TriZetto acquires Finserv Health Care Systems, Inc. Headquartered in Albany, N.Y., Finserv creates and supplies reimbursement-management software and services for healthcare providers.
1998
March - Company name is changed to The TriZetto Group, Inc.
TriZetto raises $8.5 million in private funding, increases its workforce 72 percent and experiences a 353-percent increase in revenues.
1997
May - TriZetto® is incorporated in Delaware as M C Health Holdings, Inc.
October - Shares of common stock of M C Health Holdings are exchanged for all equity interests in Croghan & Associates, Inc., a Boulder, Colo., firm providing software to help physicians manage their practices, and Margolis Health Enterprises of California.
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