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New Mexico's Largest Health Insurer Selects TriZetto's Facets Extended Enterprise
Software License Agreement Expands Relationship with Presbyterian Health Plan
NEWPORT BEACH, Calif. – February 10, 2004 – The TriZetto Group, Inc. (NASDAQ: TZIX), announced that Presbyterian Health Plan has selected Facets Extended Enterprise™, TriZetto's new enterprise-wide administrative system, to replace its existing system. The new Facets license agreement broadens Presbyterian Health Plan's relationship with TriZetto, which has also hosted its HealthWeb® e-business platform for the customer. Using HealthWeb, Presbyterian Health Plan can offer providers and members Internet self-service. Presbyterian Health Plan is New Mexico's largest health plan, serving more than 310,000 members across all 33 counties in the state.
"In healthcare, managing costs is essential to building a plan that improves the health of our members," said David Scrase, M.D., president of Presbyterian Health Plan. “We are excited about what TriZetto offers in administrative efficiency and their commitment to support our long-term success."
"Customers like Presbyterian Health Plan can benefit from Facets' proven technology platform and deep functionality, which includes integrated e-business and consumer-directed capabilities," said Tony Bellomo, president of TriZetto's software unit. "TriZetto is committed to providing the industry's most innovative software solutions to meet the complex and changing business requirements of our customers."
About Presbyterian Health Plan
Presbyterian Health Plan is operated as a division of Presbyterian Healthcare Services, the state's only private not-for-profit healthcare system. Presbyterian Health Plan provides employer groups and Medicare and Medicaid beneficiaries with a variety of managed care products and services. Currently, Presbyterian Health Plan serves approximately 310,000 enrolled members and contracts with over 2,600 physicians and the majority of the state's 32 hospitals. Presbyterian Healthcare Services can be reached at 1-800-545-4030, or www.phs.org.
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, benefits administrators and physician groups. Its more than 400 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. 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:
TriZetto Media Relations
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
Schwartz Communications
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com
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