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TriZetto Announces Agreement to Host Facets and HIPAA Gateway for Western Health Advantage; Comprehensive Agreement Includes
Business Process Outsourcing
NEWPORT BEACH, Calif. – March 5, 2002 – The TriZetto(R) Group, Inc. (Nasdaq:TZIX) has signed a software hosting and business transaction services agreement with Western Health Advantage, a health maintenance organization based in Sacramento, Calif. The agreement has a three-year term, and Western Health Advantage has the option to extend the agreement for two additional years. Under the comprehensive agreement, TriZetto will host and manage its Facets(R) managed care administrative software, as well as TriZetto's new HIPAA Gateway(TM) product that receives, routes, stores and queries electronic transactions in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA). TriZetto Service Center staff will also assume responsibility for many of the health plan's day-to-day business transactions, such as enrollment, billing and claims processing.
"Given our recent membership growth, we need to focus attention on our core business strengths, such as developing, marketing and maintaining innovative benefit plans to serve our members," said Garry Maisel, chief executive officer with Western Health Advantage. "TriZetto's comprehensive technology and services solution will help us provide quality care and grow our business."
For a predictable monthly fee, Western Health Advantage will have access to Facets and HIPAA Gateway technology through TriZetto's main data center in Greenwood Village, Colo. Facets will process multiple administrative functions for the health plan's different benefit offerings, which include HMO, Medicare and Medi-Cal products.
TriZetto is a comprehensive source of healthcare information technology (IT) products and services, including enterprise and e-business applications, software hosting, business services and consulting. Dan Spirek, president of TriZetto's Business Solutions division, said that the company's numerous product and service offerings and choice of hosted or licensed software delivery gives TriZetto the ability to craft comprehensive solutions based on a wide range of customer needs.
"Healthcare organizations are increasingly looking for fully integrated business solutions, not just technology," said Spirek. "For these customers, our `total outsourcing' approach - combining hosted applications with business transaction services - offers real value."
About Western Health Advantage
Western Health Advantage (WHA) is a full-service, not-for-profit, provider-sponsored healthcare plan operating in the six northern California counties of Sacramento, Yolo, Solano, El Dorado, Placer and Colusa. The organization is sponsored by three of the region's premiere healthcare systems: Catholic Healthcare West, the University of California at Davis Health System, and NorthBay Healthcare. Western Health Advantage offers a variety of healthcare products and services to meet the needs of patients and employers and it features many of the region's premiere medical professionals, giving its members access to more than 600 primary care providers and more than 1,000 specialty care providers. Membership currently stands at approximately 60,000 enrollees across all product lines and is growing rapidly.
About TriZetto
The TriZetto(R) Group, Inc. offers a broad portfolio of healthcare IT products and services that can be delivered individually or combined to create a comprehensive solution. The company provides proprietary and third-party software on a licensed or hosted basis, e-business applications, consulting services and business services, such as claims, billing and enrollment processing. Focused exclusively on healthcare, TriZetto serves more than 500 payers, providers and benefits administrators. Its payer customers serve more than 90 million health plan members, or approximately 40 percent of the insured population of the United States. Headquartered in Newport Beach, Calif., TriZetto can be reached at (800) 569-1222, www.trizetto.com.
This press release contains forward-looking statements that involve risks and uncertainties. The forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include statements about future net revenues, profits, and financial results, the market for TriZetto's services, future service offerings, client and partner relationships, and TriZetto's operational capabilities. Actual results may differ materially from those stated in any forward-looking statements based on a number of factors, including the effectiveness of TriZetto's implementation of its business plan, the market's acceptance of TriZetto's services, risks associated with management of growth, reliance on third parties to supply key components of TriZetto's services, attraction and retention of employees, variability of quarterly operating results, competitive factors, risks associated with acquisitions, changes in demand for third party products or solutions, which form the basis of TriZetto's service offerings, financial stability of our customers, changes in government laws and regulations and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACTS:
TriZetto Media Relations
David Scott
303-495-7197
david.scott@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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For more detailed information, please call 1-800-569-1222 or click on the link below.
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