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TriZetto Introduces New Software to Help Health Plans Meet Federal Privacy Standards
NEWPORT BEACH, Calif. – October 31, 2002 – The TriZetto(R) Group, Inc. (Nasdaq:TZIX) announced today the availability of the HIPAA Privacy System, a new record-keeping software that handles personal health information according to federal privacy standards. Most healthcare organizations must comply with these privacy rules -- part of the Health Insurance Portability and Accountability Act of 1996 (HIPAA) -- by April 14, 2003. HIPAA Privacy allows health plans to track, manage and disclose member information in keeping with the new government guidelines, established to protect consumers against misuse of medical records.
HIPAA Privacy is pre-integrated with Facets®, TriZetto's comprehensive administrative software for health plans. Facets is currently used by more than 50 health plans, including one-third of the Blue Cross and Blue Shield plans in the country. HIPAA Privacy has also been built with the same architecture as Facets, so it has a similar appearance to the user and the same industry-leading flexibility and scalability. HIPAA Privacy can work with virtually any administrative software, or function as an independent system.
The addition of HIPAA Privacy broadens TriZetto's existing arsenal of HIPAA solutions, which includes an in-depth training program on HIPAA requirements; consulting services to assess HIPAA readiness and to implement solutions; and TriZetto HIPAA Gateway(TM), software that processes electronic transactions in compliance with the 1996 Act.
According to Tony Bellomo, president of TriZetto's software unit, the Facets platform behind HIPAA Privacy brings advanced capabilities to meet the demands of even the largest health plans.
"Facets software has an unsurpassed track record of delivering innovation that works for customers," Bellomo said. "That same system architecture now powers HIPAA Privacy, assisting health plans with a new challenge -- compliance with federal HIPAA privacy standards."
About TriZetto
The TriZetto Group, Inc. offers a broad portfolio of healthcare information technology (IT) products and services that can be delivered individually or combined to create a comprehensive solution.
The company provides:
- leading proprietary and third-party software, including e-business applications;
- outsourced services, such as software hosting, transaction processing and IT department operations; and
- strategic and implementation consulting.
TriZetto is focused on three healthcare markets: payers, benefit administrators and physician groups. Its more than 550 customers represent approximately 40 percent of the U.S. insured population. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or 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, the ability of TriZetto to meet its contractual obligations to 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
Margie McCarthy
303-495-7225
margie.mccarthy@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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