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The Regence Group Selects TriZetto's CareAdvance Enterprise Software
Customer Chooses Hosted Option, Expands Its Existing Portfolio of TriZetto Solutions
NEWPORT BEACH, Calif. – July 21, 2005 – The TriZetto Group Inc. (NASDAQ: TZIX) has signed an agreement to host its CareAdvance™ Enterprise software for The Regence Group, the largest affiliation of healthcare plans in the Pacific Northwest/Mountain State region.
By selecting CareAdvance Enterprise, powered by CareKey™, as its single care management system, Regence extends the portfolio of software tools and services it receives from TriZetto. Regence has used TriZetto's Facets® administrative software and HealthWeb® Internet platform in its Idaho business for several years, and last year it began consolidating all four of its regional health plans onto Facets Extended Enterprise™ (Facets e2), the latest version of the software. To address broad business requirements, Regence has also deployed multiple specialized software components from TriZetto, including NetworXPricer ™, NetworXModeler™, the Facets e2 Defined Contribution module, and HIPAA Privacy. TriZetto will host all of these applications on behalf of Regence.
"The sophisticated functionality of CareAdvance Enterprise, combined with TriZetto's professional services, helps to support our goal of providing our members and their families with a richer overall experience and more timely interaction," said Cheron Vail, senior vice president and chief information officer for The Regence Group.
CareAdvance Enterprise is a single platform for automating case, disease and population management. Tightly integrated with TriZetto's Facets administrative system, this new patient-centric solution provides complete coverage, "from claim to consumer." It is based on technology developed by CareKey Inc., a leading care and population management enterprise solutions provider. Regence is the fifth customer to purchase CareAdvance Enterprise since TriZetto introduced it in May 2004.
"The largest portion of a care management nurse's time, almost 40 percent, is spent on documentation and administration," said Robert London, M.D., TriZetto's chief clinical officer. "By automating and integrating care management processes, our CareAdvance Enterprise software allows nurses to focus on member care and health outcomes. This is a significant opportunity for health plans to improve the quality of care and also reduce medical costs."
CareAdvance Enterprise automates all aspects of care management, including: member identification and assessment; guideline-based care planning; member and provider communications; task and team management; ongoing member monitoring, education and care coaching; and reporting for a variety of constituents. The system integrates with TriZetto's Facets administrative system to provide real-time access to member administrative data, including claims, eligibility, benefits and authorizations.
"TriZetto and CareKey are working in partnership to define consumer-centric healthcare and provide innovative care management solutions," said Kevin Agatstein, CareKey's vice president of operations. "We're able to help health plans of all sizes reduce the cost of effective touch with their members and better serve the competitive consumer-driven market."
About The Regence Group
The Regence Group is the largest affiliation of health-care plans in the Pacific Northwest/Mountain State region. It includes Regence BlueShield of Idaho, Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield (in Washington). Through these plans, Regence provides health, life, vision, dental and long-term care insurance to nearly three million members. The Regence Group and its affiliate plans are not-for-profit, independent licensees of the Blue Cross and Blue Shield Association. More than one in three Americans has coverage from the Blues. For more information, visit www.regence.com.
About TriZetto
TriZetto serves the payer market, comprised of national and regional health insurance plans as well as benefits administrators, which provide transaction services to self-insured employer groups. The company offers a broad portfolio of information technology products - software, outsourcing services, and consulting services - tailored to the needs of healthcare payers. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or www.trizetto.com.
Important Notice Regarding Forward-Looking Statements
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 revenue, profits, cash flows and financial results, the market for TriZetto's services, future service offerings, industry trends, client and partner relationships, TriZetto's operational capabilities, future financial structure, uses of cash or proposed transactions.
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 new and existing products and services, the timing of new bookings, 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 and product offerings, financial stability of our customers, the ability of TriZetto to meet its contractual obligations to customers, including service level and disaster recovery commitments, changes in government laws and regulations and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting TriZetto's Investor Relations department at 949-719-2225 or at TriZetto's web site at www.trizetto.com. All information in this release is as of July 21, 2005. 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:
Investor Contact:
Brad Samson
949-719-2220
brad.samson@trizetto.com
Media Contact:
Audrey McDill
303-495-7197
audrey.mcdill@trizetto.com
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