TriZetto Signs Agreement with Health First Health Plans to Provide Hosted Software and Outsourced Business Services
NEWPORT BEACH, Calif. – March 13, 2007 – The TriZetto Group Inc. (NASDAQ:TZIX) has signed a software hosting and business process outsourcing agreement with Health First Health Plans, whose Medicare benefit plans were ranked among America's best according to a 2006 study published by US News & World Report and the National Committee for Quality Assurance.
Under the agreement, TriZetto will host and manage on behalf of the customer its Facets Extended Enterprise(TM) core administrative system, HealthWeb® Internet platform, and multiple specialized software components, including the Facets e2 Workflow application and consumer-directed application, which processes employer-funded health reimbursement arrangements and employee-funded flexible spending accounts. TriZetto will also provide administrative healthcare services, such as claims processing, member enrollment, and billing.
"We chose TriZetto's technology and outsourced services to help us increase levels of automation and productivity, while supporting new business requirements, including administering consumer-directed products and integrating Web capabilities with our core system," said Christi Rushnell, vice president of Information Systems for Health First Health Plans. "As a true technology partner with an exclusive healthcare focus, TriZetto supports our mission to provide the highest level of service to our members and providers and improve our administrative efficiency."
"TriZetto's comprehensive business solutions can deliver maximum value to our payer customers, who are then free to focus on the parts of their businesses that they know best," said Tony Bellomo, TriZetto's executive vice president of Product Management. "TriZetto continues to be the market leader because of our proven ability to help health plans of all sizes improve their back-office operations, better manage costs, and optimize their IT investment, so they can compete effectively even as healthcare grows more complex."
About HealthFirst Health Plans
Centrally located in the Suntree area in Fla., HFHP currently has 65,500 members -- nearly one out of every seven residents in Brevard -- including 22,100 Medicare and 33,000 commercial group members. HFHP also provides administrative services for 10,500 members of self-funded plans. Serving residents of Brevard County and part of Sebastian in Indian River County for 10 years, HFHP was founded as part of Health First, a not-for-profit family of healthcare services that also includes Cape Canaveral Hospital, Holmes Regional Medical Center, Palm Bay Community Hospital, Health First Physicians. For more information, visit healthfirsthealthplans.org or call 321.434.5600.
About TriZetto
With its technology touching nearly half of the U.S. insured population, TriZetto is distinctly focused on accelerating the ability of healthcare payers to lead the industry's transformation to consumer-retail healthcare. The company provides premier information technology solutions that enhance its customers' revenue growth, increase 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 March 13, 2007. 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:
Investor Contact:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media Contact:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com