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TriZetto Signs Software License Agreement with
Blue Cross and Blue Shield of Louisiana
NEWPORT BEACH, Calif. – January 7, 2003 – The TriZetto® Group, Inc. (Nasdaq:TZIX) has signed a software license agreement with Blue Cross and Blue Shield of Louisiana (BCBSLA), the largest Louisiana health insurer, serving more than 950,000 customers. BCBSLA is the fourteenth Blues organization to become a customer of TriZetto, which already serves nearly one-third of all such health plans in the country.
Under the agreement, BCBSLA will receive a pre-integrated software package including Facets®, TriZetto's comprehensive administration system, HIPAA Gateway™ and HIPAA Privacy systems. The two TriZetto HIPAA products process electronic transactions and personal health information in compliance with the federal Health Insurance Portability and Accountability Act of 1996 (HIPAA).
Facets has been integrated with the Inter-plan Teleprocessing Services (ITS) network that links Blues plans across the country. With the Facets administrative system, BCBSLA will be able to seamlessly share data with ITS. The ITS network allows Blues members to receive care and have claims processed when traveling outside their home region.
"We chose Facets because of its strong performance within the Blue Cross Blue Shield family," said Sam Griffin, vice president of information technology at BCBSLA. "Facets has a proven ability to handle high-volume transactions and complex provider contracts of large health plans like ours. TriZetto's integrated systems will also help our organization meet HIPAA requirements."
"We are committed to providing our Blues customers with products that address their unique business challenges," said Tony Bellomo, president of TriZetto's software unit. "The numbers speak for themselves – as of today, Facets has been purchased by Blues plans representing more than 50 million insured lives."
About Blue Cross Blue Shield of Louisiana
Blue Cross and Blue Shield of Louisiana is an independent licensee of the Blue Cross and Blue Shield Association. It is a mutually held company, owned by its policyholders. The company, headquartered in Baton Rouge, also has district offices in Alexandria, Houma, Lafayette, Lake Charles, Monroe, New Orleans and Shreveport. The company's subsidiaries include HMO Louisiana, Inc. and Southern National Life Insurance Company, Inc. The company maintains a presence on the Internet at www.bcbsla.com.
About TriZetto
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 e-business applications;
- 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, benefit administrators and physician groups. Its more than 550 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.
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 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, 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 Form 10-K and other SEC filings.
CONTACTS:
The TriZetto Group, Inc. (Media Relations)
Margie McCarthy
303-495-7225
margie.mccarthy@trizetto.com
Schwartz Communications
Caroline Pavis
781-684-0770
trizetto@schwartz-pr.com
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