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TriZetto Announces Facets FastTrak
New Solution Speeds Implementation of Facets Software
for Health Plans
NEWPORT BEACH, Calif. – April 3, 2003 – The TriZetto® Group, Inc. (Nasdaq:TZIX) announced the availability of Facets® FastTrak, a new solution that speeds the implementation of Facets, TriZetto's flagship administrative software for health plans. Using pre-built, standardized software components, this solution accelerates implementation and reduces the time and expense of configuring the entire Facets system from the ground up. Customers can either purchase a Facets license or choose to have TriZetto host the system for a monthly fee. Facets FastTrak is designed for small- and medium-sized health plans, but it can also benefit large health plans that need to convert recently acquired business to Facets.
Facets FastTrak uses pre-configured software components that are essential to most health plans. These components will, for example, calculate premium rates, coordinate benefits when a member is covered by more than one insurance plan and determine whether a primary care physician is required for a benefit plan. Certain parts of Facets, such as functions related to provider agreements and member information, will continue to require specific configuration for each customer.
"Facets FastTrak is like building a modular home versus a customized one: It's faster, easier and costs less," said Tony Bellomo, president of TriZetto's software unit. "This new solution blends the technology and services expertise that TriZetto has obtained through hundreds of successful software implementations. FastTrak gives customers the functionality they need, while helping them reduce upfront labor costs and the time it takes to make Facets operational."
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 nearly 500 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
Audrey Mautner
303-495-7197
audrey.mautner@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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