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Preferred Care Partners Selects TriZetto's Facets Software and Specialized Components to Administer Medicare Advantage Business
Forward-Looking Technology Strategy to Streamline Operations, Enhance Member Service
NEWPORT BEACH, Calif. – May 26, 2005 – The TriZetto Group Inc. (NASDAQ: TZIX) announced that Preferred Care Partners has become the 21st Medicare Advantage health plan to purchase its Facets® administrative system. Facets is now used to process medical transactions for approximately 15 percent of the managed Medicare market. The customer will also deploy several of TriZetto's specialized software components, including NetworX Pricer™, NetworX Modeler™, Facets e2 Workflow and the HealthWeb® eService Internet platform.
"At Preferred Care Partners, our IT strategy includes a commitment to state-of-the-art technology, fundamental to providing affordable coverage and quality health care for our members," said Roger Rodriguez, vice president of Care Management for Preferred Care Partners.
According to Tony Bellomo, executive vice president of TriZetto's software unit, the government's recent reform of Medicare has increased the number of commercial health plans serving Medicare beneficiaries. However, this market opportunity also imposes significant demands upon these organizations.
"Health plans that want to compete effectively in the Medicare space will need the right software and IT services to address requirements such as the new Part D drug benefit coverage," said Bellomo. "In addition, the government now requires Medicare Advantage plans to offer disease management programs to members who have chronic illnesses. To stay competitive, these plans will need to operate more efficiently while at the same time deliver richer benefits to members. TriZetto's Facets platform and broad technology solutions can drive this administrative efficiency, while supporting Medicare Part D, quality care, and improved network management."
About Preferred Care Partners
Preferred Care is a Provider Sponsored Health Plan contracted with CMS to offer Medicare Advantage plans to Medicare beneficiaries in the South Florida market. Its unique PSO model focuses on empowering physicians to make clinical decisions for their patients in a manner that reduces costly administration. The health plan, which is the first of its type in South Florida, has a provider network of 13 hospitals and more than 1,000 physicians throughout Miami-Dade County. For more information on Preferred Care Partners, visit www.psohealth.com.
About TriZetto
TriZetto serves the payer market, comprised of national and regional health insurance plans as well as benefits administrators, which provide transaction services to self-insured employer groups. The company offers a broad portfolio of information technology products - software, outsourcing services, and consulting services - tailored to the needs of healthcare payers. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or www.trizetto.com.
Important Notice Regarding Forward-Looking Statements
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 revenue, profits, cash flows and financial results, the market for TriZetto's services, future service offerings, industry trends, client and partner relationships, TriZetto's operational capabilities, future financial structure, uses of cash or proposed transactions.
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 new and existing products and services, the timing of new bookings, 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 and product offerings, financial stability of our customers, the ability of TriZetto to meet its contractual obligations to customers, including service level and disaster recovery commitments, changes in government laws and regulations and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting TriZetto's Investor Relations department at 949-719-2225 or at TriZetto's web site at www.trizetto.com. All information in this release is as of May 26, 2005. TriZetto undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectat ions.
CONTACTS:
Investor Contact:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media Contact:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com
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