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TriZetto Signs Five-year, $14 Million Contract to Host Facets for Capital Blue Cross
First New BCBS Customer for Hosted Version of Facets
NEWPORT BEACH, Calif. – January 8, 2002 – The TriZetto(R) Group, Inc. (Nasdaq: TZIX) has signed a five-year, $14 million contract with Capital Blue Cross of Harrisburg, Pa., a 1.4 million-member health plan. Under the terms of the agreement, TriZetto will host and manage its proprietary Facets(R) managed-care administrative software for Capital and provide provider-credentialing services. Capital is the fourteenth Facets contract with a Blue Cross and Blue Shield (BCBS) plan and the first new BCBS Facets customer to contract with TriZetto for hosting services.
For a predictable monthly fee, Capital will have access to Facets technology through TriZetto's main data center in Greenwood Village, Colo. Facets will perform multiple functions for the health plan, including enrollment, member eligibility and benefit tracking, billing and claims processing.
According to Anita Smith, executive vice president of Capital, "At Capital Blue Cross, we put a premium on service -- service to our customers, and service to the providers who care for them. That's what has made us a trusted member of this community for more than six decades now, and that's part of what distinguishes us in this marketplace. Facets technology will enable us to provide improved efficiencies to further our service capabilities to all our customers in Central Pennsylvania and the Lehigh Valley. The people of this region deserve nothing less."
The combination of hosted applications and provider credentialing services demonstrates TriZetto's ability to provide comprehensive IT solutions to the healthcare industry. The company is a "one-stop shop" for healthcare organizations with its Erisco and RIMS software brands, numerous hosted software applications, the HealthWeb(R) e-business platform, and an array of consulting and business services.
"Because TriZetto is focused 100 percent on healthcare, we have a thorough understanding of the business and the regulatory complexities facing the industry, such as HIPAA," said Dan Spirek, president of TriZetto's Business Solutions division. "Given our healthcare expertise, we're able to work with each customer to find the right combination of software and related services."
About Capital Blue Cross
Founded in 1938, Capital Blue Cross has grown steadily to become a premier health-insurance company, serving 1.4 million members in Central Pennsylvania and the Lehigh Valley, with 2000 underwriting revenue of $1.3 billion. The approximately 2,000 employees of the Capital Blue Cross family are embarking now on an exciting new chapter in the company's proud history. Beginning in April, Capital Blue Cross will offer the full range of health-insurance products. Previously, Capital Blue Cross offered coverage only for hospital and related services.
About TriZetto
The TriZetto(R) Group, Inc. offers a broad portfolio of healthcare IT products and services that can be delivered individually or combined to create a comprehensive solution. The company provides proprietary and third-party software on a licensed or hosted basis, e-business applications, consulting services and business services, such as claims, billing and enrollment processing. Focused exclusively on healthcare, TriZetto serves more than 500 payers, providers and benefits administrators. Its payer customers serve more than 90 million health plan members, or approximately 40 percent of the insured population of the United States. Headquartered in Newport Beach, Calif., TriZetto can be reached at (800) 569-1222, www.trizetto.com.
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 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, financial stability of our customers, changes in government laws and regulations and risks associated with rapidly changing technology, as well as the other risks identified in `TriZetto's Form 10-K and other SEC filings.
CONTACTS:
TriZetto Media Relations
David Scott
303-495-7197
david.scott@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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