TriZetto Continues Leadership Role in Medicare Part D as May 15 Enrollment Deadline Looms
Expert Available To Discuss Future Needs of Health Plans Offering Medicare Advantage and Medicare Part D Benefits
NEWPORT BEACH, Calif. – May 11, 2006 – The TriZetto Group Inc. (NASDAQ: TZIX) continues its leadership role in Medicare Part D and is offering Medicare expert Larry Bridge to comment on the future needs of health plans offering Medicare Advantage and Medicare Part D Benefits as the May 15th deadline for enrollment in Part D looms.
According to an April Health and Human Services press release, more than 30 million Medicare beneficiaries are receiving prescription drug coverage. This has created a "land grab" among health plans scrambling to gain a share of the Medicare market, in particular Part D prescription programs and Medicare Advantage plans.
"The Medicare Prescription Drug and Modernization Act of 2003 was designed to shift a larger portion of Medicare recipients to private insurers," said Larry Bridge, Senior Vice President, Government Programs for TriZetto. "As a result, health plans are being overwhelmed by the demands this market presents, including marketing, customer-service, administration and care management. Smart plans have begun to secure long-term outsourcing partners like TriZetto to meet these needs."
TriZetto established its leadership role in Medicare Part D in May of 2005 with the release of its FastTrack solution, which uses pre-configured benefits, and a prescribed implementation that speeds how quickly Medicare and Medicaid health plans can get up and running on Facets Extended Enterprise(TM) (Facets e2). TriZetto followed up the release of FastTrack with the launch of its expanded Medicare software and services in support of Medicare Part D. Currently, TriZetto has 23 Medicare health plan customers, which use its Facets® enterprise software to process medical transactions for 16 percent of all managed Medicare members. TriZetto is a market leader whose IT solution Facets is currently used to process medical transactions for 22 percent of the managed Medicaid market and 17 percent of the Medicare Advantage market.
As the May 15th deadline approaches Bridge, who has more than 20 years experience in managed care, including serving as president of several large health plans, is available to comment on:
- The use of outsourcing to handle the flurry of activity and the incredible level of marketing and enrollment during open enrollment periods.
- Providing effective care and disease management programs-in particular managing care for members with chronic conditions.
- Ensuring the health plan's technology and partnerships support appropriate CMS reporting and Member Reconciliation.
- Ensuring that their care management technology encompasses all of their data sources.
To learn more about TriZetto's Facets, FastTrack and Medicare Part D solutions, please visit the TriZetto Web site at http://www.trizetto.com/hpSolutions/medicare.asp. To arrange in interview with Larry Bridge or to learn more about how health plans can meet the future challenges of the Medicare Part D Plan, please contact Audrey McDill at 303-495-7197 or audrey.mcdill@trizetto.com.
About TriZetto
Touching more than 35% of the U.S. insured population, TriZetto is distinctly focused on accelerating the ability of healthcare payers to lead the industry's transformation. The company provides premier information technology solutions that enhance its customers' revenue growth, drive their administrative efficiency, and improve the cost and quality of care for their members. Healthcare payers include national and regional health insurance plans, and benefits administrators that provide transaction services to self-insured employer groups. The company's broad array of payer-focused information technology offerings include enterprise and component software, hosting and business process outsourcing services, and consulting. Headquartered in Newport Beach, California, TriZetto can be reached at 949-719-2200 or at www.trizetto.com.
CONTACTS:
Investors:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com