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TriZetto Introduces Two New Services To Help Health Plans Recover Operations, Not Just Data, Post-Disaster
NEWPORT BEACH, Calif. – September 22, 2005 – When a health plan's business is disrupted due to a natural disaster, prolonged power outage, sabotage, or other circumstances, time is of the essence. To restore health plan operations, The TriZetto Group Inc. (NASDAQ: TZIX) today announced two new services to recover health plan business operations and minimize the impact of the event on the plan, its members and providers. TriZetto's Business Continuity Services combine disaster recovery and claims processing to recover TriZetto's Facets® core administrative software and claims processing operations. For health plans confident in their ability to recover their own data, TriZetto also offers Claims Continuity Services, a stand-alone option that, in the event of a disaster, restores Facets claims processing capabilities. Both services focus on recovering business operations to help the health plan minimize business disruption and return to normal operations faster.
When catastrophe strikes, the first step in restoring a health plan's operations is to bring the administration system back online. TriZetto's Business Continuity Services combine pre-installed equipment, a live connection in a shared disaster recovery environment, and the expertise to recover the Facets software efficiently. This combination eliminates the need to travel to a physical site because TriZetto manages the recovery of the Facets system, allowing clients to focus their attention on restoring other business processes.
With Business Continuity Services, TriZetto's professional staff also resumes critical claims processing for the health plan. TriZetto transfers the client's claims processing operations to one of its service centers, and the TriZetto staff then assumes responsibility for the health plan's critical claims processing functions. These include processes for data entry, external claims, pending resolution, and claims adjustment. As the health plan's own processors come back online, TriZetto works with the client team to bring the claims backlog inventory to normal levels before transitioning the work back to the health plan. For clients that don't need help recovering Facets, the stand-alone claims recovery service, Claims Continuity Services, is available.
TriZetto demonstrates its ability to manage both complex processes with thorough annual testing. Unlike infrastructure-based disaster recovery vendors that often provide only limited testing, TriZetto's Business and Claims Continuity Services include a yearly exercise in which TriZetto shows that it is able to recover the Facets application and process claims remotely.
According to Patricia Gorman, executive vice president of TriZetto's Business Solutions unit, most health plans have some kind of disaster recovery, crisis management or business recovery option in place; however, implementing these plans in the pressure-cooker environment of an actual disaster can exceed staff capabilities and lead to extensive down times, revenue loss, and damaging disruption of health plan services. In some cases, the ability to travel to a remote site to recover IT systems can also be severely limited, which can restrict a plan's ability to recover quickly. Unlike many piece-meal solutions in the market, TriZetto provides an overall level of support and crucial Facets expertise through its Business and Claims Continuity Services.
"For our Facets customers, TriZetto's Business and Claims Continuity Services are designed to keep their claims processing operations running with minimal disruption, even when their businesses aren't," said Gorman. "TriZetto can help health plans recover from a disaster, so they can continue to serve the members, providers and employers who rely on them. For a predictable fee, our customers can have systems and TriZetto experts in place, ready to recover their administrative capabilities should a debilitating event occur. Ours is a proactive approach to disaster management that can save time and minimize disruption of plan services over the long run."
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 September 22, 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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