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TriZetto to Provide HIPAA Services to Blue Cross and
Blue Shield of Florida
NEWPORT BEACH, CA – March 6, 2001 – The TriZetto(R) Group, Inc. (Nasdaq: TZIX) announced today an agreement to provide Health Insurance Portability and Accountability Act (HIPAA) Administrative Simplification consulting services to Blue Cross and Blue Shield of Florida, Inc. (BCBSF). Blue Cross and Blue Shield of Florida serves 2.8 million members in Florida.
TriZetto provides HIPAA compliance services to its customers using a proprietary, full life-cycle methodology including readiness assessment, analysis and solution design, development and implementation, and ongoing compliance management. As an enterprise HIPAA compliance provider, TriZetto provides HIPAA-compliant applications to payers and providers for a predictable monthly fee through its ASP and traditional license software models.
"We bring together top technology, healthcare and legal minds from TriZetto and our strategic partners to address all HIPAA requirements," says Jake McQueen, senior vice president of Transformation Services at TriZetto.
TriZetto has developed strategic partnerships to address the complex requirements of HIPAA, such as program management, authentication, digital certificates, EDI tools and HIPAA law. The Niku Corporation (Nasdaq: NIKU), a TriZetto HIPAA solutions partner, will provide BCBSF its Web-based HIPAA-AS program management application. The application incorporates TriZetto's HIPAA-AS compliance methodology and automates and documents the entire HIPAA- AS compliance process.
Recent reports indicate that one of the newest and greatest challenges facing healthcare businesses today is HIPAA regulation compliance, which has been dubbed "healthcare's Y2K."
TriZetto will work closely with BCBSF's HIPAA Administrative Simplification Compliance Team and Program Management Office to conduct a comprehensive assessment to evaluate BCBSF's current level of HIPAA Administrative Simplification compliance in the areas of transactions and code sets, privacy and security, and national identifiers.
About Blue Cross and Blue Shield of Florida
As Florida's leading healthcare coverage company, Blue Cross and Blue Shield of Florida is dedicated to providing caring solutions and affordable choices to 2.8 million members. BCBSF is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. Standard and Poor's affirmed its "A+" financial strength and credit ratings of BCBSF, based on the company's strong market position, solid earnings profile and excellent capitalization. For additional information about BCBSF, visit its Web site at http://www.bcbsfl.com.
About TriZetto
The TriZetto(R) Group, Inc., is an information technology and services company focused on the healthcare industry. The company hosts and licenses software and provides e-business platforms, serving approximately 600 customers with more than 90 million enrollees. TriZetto's application service provider (ASP) unit hosts a broad selection of applications from multiple vendors for a predictable monthly fee. All of TriZetto's ASP offerings are configured for use over the Internet. TriZetto's HealthWeb(R) technology allows all healthcare participants - health plans, providers, employers and members - to exchange information and conduct business over the Internet. HealtheWare(TM), the software engines unit, develops and licenses premium Erisco and RIMS applications for payers and benefits administrators. Headquartered in Newport Beach, Calif., TriZetto can be reached at 949-719-2200, www.trizetto.com.
This press release may contain 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, and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACT:
TriZetto Media Relations
Jodi Amendola
480-657-9966, ext. 25
jamendola@cpronline.com
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