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TriZetto Announces ASP Agreement with
Potomac Physicians Group
NEWPORT BEACH, CA – April 5, 2001 – The TriZetto(R) Group, Inc. (Nasdaq: TZIX) today announced an application service provider (ASP) agreement with Potomac Physicians, P.A., an affiliate of CareFirst(R) BlueCross BlueShield. TriZetto will integrate and host practice management systems for Potomac Physicians' 11 office sites in the Baltimore/Washington, D.C. area, as well as provide integrated transaction- processing services. TriZetto recently signed an ASP agreement with The Preferred Health Network, an 85,000-member health plan subsidiary of CareFirst.
"The new agreement with Potomac Physicians highlights the benefits of ASPs to healthcare providers, as well as health plans and other payers," says Bill Schultz, senior vice president of Provider Services, TriZetto. "Our provider ASP solutions allow physician organizations to focus on what they do best -- delivering quality patient care -- and allow TriZetto to focus on its expertise in IT and business services."
The advantages of ASP solutions -- hosted applications available for a fixed, monthly fee -- to physician groups are numerous. Substantial amounts of capital are freed up that otherwise would be spent on hardware, software and personnel for needed IT systems. Working with a multi-vendor ASP provider such as TriZetto, providers receive the most advanced applications on the market. They also gain a single source of accountability for operation and maintenance of their IT systems.
TriZetto's integrated transaction and practice-management support will enable the group to realize the most value out of the hosted applications. TriZetto's back-office receivables management services include handling multiple reimbursement fee schedules, business relationships and contracts.
"We've learned that in addition to quality systems, physician groups need professional support to operate efficiently," says Shultz. "The ASP option gives this client group the latest systems it needs in the most cost- effective, trouble-free manner. It makes sense for TriZetto's staff to handle the group's back-office needs as well, simplifying its outsourcing and streamlining the information flow."
About TriZetto
The TriZetto(R) Group, Inc., is an information technology and services company focused on the healthcare industry. The company hosts and licenses software and provides e-business platforms, serving approximately 600 customers with more than 90 million enrollees. TriZetto's application service provider (ASP) unit hosts a broad selection of applications from multiple vendors for a predictable monthly fee. All of TriZetto's ASP offerings are configured for use over the Internet. TriZetto's HealthWeb(R) technology allows all healthcare participants -- health plans, providers, employers and members -- to exchange information and conduct business over the Internet. HealtheWare(TM), the software engines unit, develops and licenses premium Erisco and RIMS applications for payers and benefits administrators. Headquartered in Newport Beach, Calif., TriZetto can be reached at 949-719-2200, www.trizetto.com.
This press release may contain 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, and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACT:
TriZetto Media Relations
Jodi Amendola
480-657-9966, ext. 25
jamendola@cpronline.com
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