TriZetto Completes First Phase of Software Conversion for Providence Health Plans; Plan Serving 800,000 Migrates to Facets System from Amisys
Business Editors/Health/Medical Writers/High-Tech Writers
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Feb. 5, 2004
The TriZetto Group, Inc., (NASDAQ:TZIX), announced it has successfully converted the first 180,000 members of Oregon-based Providence Health Plans to Facets(R), TriZetto’s comprehensive administrative software. The remainder of the health plan’s customers will be transitioned to Facets in subsequent phases through June 2004. In addition to migrating Providence Health Plans’ members onto the Facets system, TriZetto has also provided an enterprise-wide business intelligence solution, as well as support and management of the health plan’s outgoing Amisys software during the conversion.
“The Facets implementation team did an excellent job,” said Bruce Wilkinson, chief information officer, Providence Health Plans. “In particular, TriZetto’s ability to manage our outgoing system during the installation allowed us to focus our attention on bringing the new Facets system online.”
Providence Health Plans entrusted TriZetto to design and deploy an enterprise reporting and business intelligence solution, drawn from TriZetto’s Information Intelligence Suite of products and services. TriZetto built Providence Health Plans a Web-based business intelligence and reporting portal, which gives the health plan real-time access to crucial business information and analytical reports. Outsourcing to TriZetto these key parts of the implementation contributed to the success of the overall project.
With Facets, health plans can automate administrative functions to reduce operational costs and streamline transactions with constituents. Health plans like Providence Health Plans that want to optimize their technology can combine Facets with TriZetto’s business intelligence solutions, which deliver information and analysis for critical decision making across the organization.
According to Patricia Gorman, president of TriZetto’s outsourcing unit, the Providence implementation demonstrates TriZetto’s strengths in helping health plans transition to feature-rich TriZetto systems.
“Our consulting team is dedicated to finding innovative ways to help health plans get their new systems operational – on time and under budget,” said Gorman. “The administrative data transfer hit a near 100 percent success rate. TriZetto’s proven Amisys-to-Facets conversion methodology and expert business intelligence solutions helped our client achieve these outstanding results.”
About Providence Health Plans
Providence Health Plans provides health care coverage services to more than 800,000 people in Oregon and southern Washington. Providence focuses on improving the health of its members by creating access to high quality healthcare programs and preventive services through top-rated benefit plans that are preferred by providers and customers. Providence Health Plans is part of Providence Health System in Oregon, ranked one of the top-10 most integrated health networks in the nation. Visit www.providence.org/healthplans.
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
— 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, benefits administrators and physician groups. Its more than 400 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.
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 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 new and existing products and 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 and product 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 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 949/719-2209 or at TriZetto’s website at www.trizetto.com. TriZetto undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group