Trizetto Rated Positive in the Core Claims Application Arena by Independent Analyst Firm
NEWPORT BEACH, Calif. – May 10, 2006 – The TriZetto Group Inc. (Nasdaq: TZIX - News) today announced that its Facets Extended Enterprise® administrative software was rated positive in the core claims application arena in a March 22 Gartner research note titled "MarketScope for North American Healthcare Insurance Payers' Core Claims Applications, 2006." Innovation, market responsiveness, track record, overall business viability, and healthcare focus were important factors used to evaluate the core payer applications.
TriZetto holds a leading technology footprint in the healthcare payer industry, serving one-third of the 100 largest health plans in the U.S. and 89 million individuals. The company's core strategy is to provide technology solutions that help payers thrive in the emerging consumer-retail market, including enhancing revenue growth, driving administrative efficiency, and improving the cost and quality of care.
"We believe this research reflects how TriZetto has earned its place as the market penetration leader for its core claims application," said Tony Bellomo, executive vice president, Enterprise Solutions at TriZetto. "As the push towards a retail-like healthcare market continues, it is imperative to enable full connectivity among payers, providers and financial institutions, allowing point-of-service claims adjudication before the patient leaves the doctor's office. At TriZetto, it is our mission to deliver the software, services, and total solutions to meet the needs of payers both now and in the future."
The Gartner report analyzes the state of core claims applications for the healthcare payer industry. Core claims applications support the basic business functions of health insurance, managed care and consumer-directed health plans (CDHPs). The report found that purchasers of these applications, healthcare payers, are seeking to lower administrative costs, simplify operations, and increase speed to market of new products and services.
According to Robert Booz, the Gartner analyst who wrote the report, "Core claims applications vendors must be able to act quickly and decisively to seize market opportunities created in a turbulent business environment."
Six core claims vendors were surveyed for this study: TriZetto, Amisys, DST Health Solutions, EDS, Perot Systems, and QCSI. All have at least two operational installations at a healthcare payer organization, with a minimum of 500,000 covered lives.
(a) MarketScope Disclaimer
The MarketScope is copyrighted March 22, 2006 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About TriZetto
Touching nearly 35% of the U.S. insured population, TriZetto is distinctly focused on accelerating the ability of healthcare payers to lead the industry's transformation. The company provides premier information technology solutions that enhance its customers' revenue growth, drive their administrative efficiency and improve the cost and quality of care for their members. Healthcare payers include national and regional health insurance plans, and benefits administrators that provide transaction services to self-insured employer groups. The company's broad array of payer-focused information technology offerings include enterprise and component software, hosting and business process outsourcing services, and consulting. Headquartered in Newport Beach, Calif., TriZetto can be reached at 949-719-2200 or at 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 10, 2006. TriZetto undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
CONTACTS:
Investors:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com