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TriZetto Expands QicLink Software License Agreement with PacifiCare Health Systems
NEWPORT BEACH, Calif. – April 17, 2003 – The TriZetto® Group, Inc. (Nasdaq:TZIX), announced that Cypress, Calif.-based PacifiCare Health Systems, Inc. (Nasdaq: PHSY), has signed an agreement to renew and expand its license for QicLink™, TriZetto software that automates and simplifies the claims-payment process.
QicLink, a leading software for benefits administrators in the United States, is used to process approximately 140 million medical claims annually. PacifiCare has relied on the system for more than six years to process claims for its Preferred Provider Organization (PPO) plans.
TriZetto's relationship with PacifiCare has expanded over the past several months. In addition to the QicLink agreement, PacifiCare's Dental and Vision subsidiary recently purchased TriZetto's Facets® administrative system as well as HIPAA Gateway™, which processes electronic transactions in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA). PacifiCare's Behavioral Health subsidiary, which has used Facets since 1997, also purchased HIPAA Gateway.
About PacifiCare
PacifiCare Health Systems serves more than 3 million health plan members and approximately 9 million specialty plan members nationwide, and has annual revenues of more than $11 billion. PacifiCare is celebrating its 25th anniversary as one of the nation's largest consumer health organizations, offering individuals, employers and Medicare beneficiaries a variety of consumer-driven health care and insurance products. Specialty operations include behavioral health, dental and vision, life insurance, and complete pharmacy and medical management through its wholly owned subsidiary, Prescription Solutions. More information on PacifiCare Health Systems is available at www.pacificare.com.
About TriZetto
The TriZetto Group, Inc. offers a broad portfolio of healthcare information technology (IT) products and services that can be delivered individually or combined to create a comprehensive solution.
The company provides:
- leading proprietary and third-party software, including e-business applications;
- outsourced services, such as software hosting, transaction processing and IT department operations; and
- strategic and implementation consulting.
TriZetto is focused on three healthcare markets: payers, benefit administrators and physician groups. Its nearly 500 customers represent approximately 40 percent of the U.S. insured population. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or 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, the ability of TriZetto to meet its contractual obligations to 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
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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