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TriZetto Signs Software License Agreement With Fidelis Care New York
NEWPORT BEACH, Calif. – January 9, 2003 – The TriZetto® Group, Inc. (Nasdaq:TZIX) announced today that Fidelis Care New York, a non-profit health plan serving New York state, has signed an agreement to license two TriZetto products. The integrated package includes Facets®, TriZetto's comprehensive administrative software and HIPAA Gateway™, which processes electronic transactions in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
According to Mark L. Lane, Fidelis Care president and chief executive officer, Facets' ability to automate and streamline administrative processes — such as claims processing, member enrollment and billing — will support the health plan in its mission to provide quality, affordable healthcare to members and responsive service to providers.
"In this era of double-digit premium increases, Fidelis Care remains committed to serving the economically disadvantaged," Lane said. "Combining Facets with HIPAA Gateway creates the solution we need to maximize efficiency and meet federal standards."
Tony Bellomo, president of TriZetto's software unit, said that being a single-source provider of healthcare IT makes TriZetto a strong partner for growing health plans like Fidelis.
"Our products address the full spectrum of health plans, from small and mid-size plans, to organizations with millions of members," Bellomo said. "By integrating applications like Facets and HIPAA Gateway, TriZetto tackles increasingly complex needs and supports the rapid changes required for health plans to remain competitive."
About Fidelis Care New York
Fidelis Care is the non-profit, Catholic-sponsored healthcare plan in New York state, providing more than 175,000 residents in 33 counties with quality, affordable care. Founded in 1993, Fidelis Care offers Medicaid, Child Health Plus and Family Health Plus product lines. For more information, call 1-888-FIDELIS or visit www.fideliscare.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, 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:
The TriZetto Group, Inc. (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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