|  Home   |  Contact Us   |  Site Map   |  Search  |      

 Customer Entrance
Press Releases
In the News
Press Kit
Calendar
Contacts
TriZetto Delivers General Release of
Facets Extended Enterprise

NEWPORT BEACH, Calif. – September 30, 2003 – The TriZetto® Group Inc. (Nasdaq:TZIX) announced the general availability of Facets Extended Enterprise™ (Facets e2™). The enterprise software is a major expansion of TriZetto's Facets administrative system for health plans. Facets e2, which has been in limited release at customer sites since June, is now available for broader deployment.

Facet e2 is a comprehensive, enterprise-wide system that tightly integrates applications and information across a health plan's business cycles. This integration improves productivity, reduces risk and improves return on investment. The system also delivers expanded business benefits to health plans, including support for consumer-directed products, highly efficient customer service and a redesigned user interface. In addition, the system offers an English-language provider contracting application, based on TriZetto's NetworX technology for PPOs, as well as new functionality to ease integration with third-party applications. TriZetto's HIPAA compliance capabilities and HealthWeb e-business applications are also now more tightly integrated with Facets e2.

TriZetto developed Facets e2 to help its customers stay ahead of trends in the health benefits market. Health plan rate increases have been in the double digits for the past several years, but those increases have been offset by rising medical costs.

In addition, employers have shifted more of the cost of health benefits to employees, who are demanding better customer service and more information about cost and quality from their health plan. To succeed in the future, health plans will need more sophisticated technology to automate work processes, reduce costs and make it easy for consumers to navigate the healthcare delivery system.

PreferredOne, a Golden Valley, Minnesota-based health benefits company serving 350,000 members, was the first health plan to purchase the Facets e2 defined contribution application. An existing customer, PreferredOne upgraded its Facets software to the new system in July. "Facets e2 will help us administer not only defined contribution, but all of our products more efficiently and more accurately," said John Hofflander, senior vice president and chief information officer for PreferredOne. "That should result in decreased costs and improved service to our customers. The system will also help us build new products and services quickly. We now have a tool that gives us a big competitive advantage in a tough market."

Using Facets e2, health plans can increase efficiency and become more consumer-friendly at the same time. The software supports customization of benefit plans and online tracking of individual and family healthcare expenses. It also allows consumers to check the status of a claim, order new ID cards and add or change dependents online, 24 hours a day. Inside the health plan, Facets e2 speeds and simplifies the set up of new benefit plans by guiding users through the system step-by-step.

"Facets e2 is the one comprehensive system that provides deep integration of claims processing, e-business and account administration across complex products," said Tony Bellomo, president of TriZetto's software unit. "Our customer can benefit from reduced costs and faster, more accurate processing. Our solution helps health plans address core administration and Internet requirements across the enterprise, from end to end."

Features and Benefits

Facets e2 includes the following features and benefits for health plans:

  • Flexible, integrated technology to support multiple lines of business and new consumer-oriented products, such as defined contribution plans and healthcare spending accounts
  • Auto-configuration that guides users through the system, simplifying the input of new benefit plan information
  • Integrated HIPAA functionality to address standard electronic transactions and privacy regulations
  • Full suite of e-business applications to facilitate online business transactions with plan members, physicians, employers and brokers
  • New functions to support complex provider contracts and automated pricing of claims
  • N-tiered, open architecture with a Web service layer and industry-standard protocols (e.g., SOAP, XML) to simplify integration of third-party applications
  • Choice of leading databases — Oracle, Microsoft SQL and Sybase

Customers can license Facets e2, or TriZetto can host and manage the system for customers in one of its data centers.

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, benefits administrators and physician groups. Its more than 450 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
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com


Information
For more detailed information, please call 1-800-569-1222 or click on the link below.
Request more information     Contact a sales rep


Back to 2003 Press Releases

About TriZetto   Healthcare Solutions   Healthcare Services   Privacy Policy   Terms and Conditions   Trademarks  
© 2000-2008 The TriZetto Group, Inc. All rights reserved.