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TriZetto Partners With MBI To Create First Fully Integrated Consumer Solution For Payers
Deep Integration Paves Way for Real-Time Financial Transactions
NEWPORT BEACH, Calif. – April 5, 2005 – The TriZetto Group Inc. (NASDAQ: TZIX) announced it will offer health plans and benefits administrators a suite of comprehensive solutions with integrated software and services that can be used to simplify and accelerate the administration of consumer-directed healthcare (CDH). The Facets e2 CDH Suite, designed for health plans, and the QicLink e2 CDH Suite, designed for benefits administrators, will address the full spectrum of CDH business requirements, as payers transform themselves to compete in healthcare's evolving consumer retail market. The solutions support a single technology platform with tightly linked components that payers can use to manage all aspects of CDH - benefits, funds, and member health - all accessible via the Web. As part of its CDH initiative, TriZetto is teaming with MBI, the leader in electronic benefit payment systems with the most widely used benefits debit cards. This relationship, as well as those TriZetto is forming with top financial institutions, will round out TriZetto's plans to extend end-to-end fund management capabilities to its customers.
TriZetto's overall goal is to enable full connectivity among payers, providers and financial institutions, allowing point-of-service claims adjudication before the patient leaves the doctor's office. By creating a live systems link among these entities, TriZetto's CDH solutions, coupled with MBI's electronic transaction payment technology, will support real-time healthcare transactions, including payment of medical expenses, fund tracking, and claims adjudication. With point-of-service financial settlement, providers and health plans alike have the opportunity to significantly reduce administrative costs.
"TriZetto has built this innovative suite of consumer health solutions on our foundation of expert core administrative software and IT services," said Kathleen Earley, president and COO for TriZetto. "We stay one step ahead of the evolving healthcare industry, putting together all the pieces that payers need to operate at peak efficiency, especially in the complex new world of consumerism."
"The consumer-driven healthcare movement is driving rapid growth in our industry. Essential to the movement is benefit debit card technology that gives employees easy access to their funds and enables them to conveniently manage deductibles, transfer money and track payments," said Robert L. Natt, president and CEO of MBI. "This alliance with TriZetto will establish real-time financial settlement, and it further positions MBI at the forefront of electronic benefit payment transaction systems."
TriZetto also will launch two outsourced, turnkey options designed to speed the implementation of TriZetto's CDH solutions. CDH FastTrak, for health plans, and QicLink QicStart, for benefits administrators, combine a standard set of plan options, pre-integration with preferred financial partners, standardized software components, and business process and implementation services. By using these turnkey options, customers can reduce the time and expense of configuring the entire system from the ground up. The company expects to rollout CDH FastTrak and QicLink QicStart in the beginning of the third quarter.
As employers continue to shift more of the cost of health benefits to employees, these consumers in turn are demanding better information and tools to help them shop for services, customize and manage benefits, and track healthcare funds. TriZetto developed its CDH solutions with the IT capabilities that payers need to address these requirements, including online enrollment in high-deductible health plans, and seamless administration of health savings accounts (HSAs), health reimbursement arrangements (HRAs), and flexible spending accounts (FSAs).
Other Integrated Features and Benefits
The Facets e2 and QicLink e2 CDH Suites extend the CDH functionality already available in TriZetto's core systems and will include the following integrated features and benefits for health plans and benefits administrators:
- A comprehensive set of e-business applications to facilitate online business transactions with consumers, providers, and employers. TriZetto provides an array of Web tools that enable the administrative staff to communicate and process CDH transactions with around-the-clock access to critical information.
- An online benefit selection wizard that allows consumers to calculate their expected annual healthcare costs and pick the most cost-effective plan option to meet their needs.
- An online, consolidated account statement that will itemize transactions across funding sources in an easy-to-read format, so consumers can track money in and out of their various healthcare accounts and manage their benefits.
- Consumer Web tools for self-enrollment, drug cost comparisons, and health and wellness content and provider quality information.
- A personal health management application that supports the creation and maintenance of individualized online health records for consumers. The TriZetto Personal CareAdvance™ application delivers personalized, timely information to consumers, so they can assist in managing their own care. This secure, Web-based application opens an effective and ongoing communication channel with healthcare consumers, to reduce medical costs and improve the effectiveness of care management.
Customers will be able to license the Facets e2 and QicLink e2 CDH Suites, or TriZetto can host and manage the systems for customers in its data center.
About MBI
MBI offers a consumer-directed benefits payment platform plus the country's #1 employee benefits card - electronically accessing Flexible Spending Accounts, Health Reimbursement Arrangements, Health Savings Accounts, Transit/Parking Accounts and Dependent Care Accounts all with one MasterCard or Visa card. The MBI Benefits Card™ allows employees to pay for eligible expenses at physician and dental offices, pharmacies and vision service facilities. In July 2003, MBI was selected by America's Health Insurance Plans as a Solutions™ partner and extends preferred terms to America's Health Insurance Plans' nearly 1,300 health insurance plan members. More than 14,000 employers, including many Fortune 500 companies, have made MBI the benefits card of choice for their employees. Experience The Benefit at www.mbibenefits.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 at www.trizetto.com.
CONTACTS:
Investors:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com
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For more detailed information, please call 1-800-569-1222. |
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