BlueCross BlueShield of Tennessee Selects TriZetto's NetworXPricer; Automated Claims Pricing Tool Supports Complex Provider Contracts, Helps Health Plans Manage Costs.Business Editors/Health/Medical Writers/High-Tech Writers NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--April 8, 2004 The TriZetto Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : TZIX) announced that BlueCross BlueShield of Tennessee  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . (BCBST BCBST BlueCross BlueShield of Tennessee (Headquartered in Chattanooga, TN) BCBST Brigade Command and Battle Staff Training program ) has purchased NetworXPricer, software that fully automates complex provider contracts, making it easier for health plans to negotiate terms with numerous providers. NetworXPricer speeds claims processing by eliminating the labor costs, errors and inconsistencies of pricing claims manually. BCBST, the state's largest health insurer, made the decision as part of its ongoing strategy to automate and streamline operations. "Using the natural language feature of NetworXPricer, we can dramatically reduce the time it takes to set up and maintain contract terms in our system," said Bob Worthington, senior vice president of business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets for BCBST. "TriZetto's technology will boost our efficiency and help us with our twin goals of providing affordable coverage for all Tennesseans and assuring the company's long-term sustainability." NetworXPricer, adapted from TriZetto's NetworX suite of products serving the PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there marketplace, is a standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. product that can be used with any health plan's administrative system. It is also integrated with Facets FACETS Fairfax Area Christian Emergency and Transitional Services (Virginia) FACETS Facilities Construction, Engineering and Technical Services FACETS Frequency And Coverage Evaluation in Time-Sharing , TriZetto's flagship administrative software. "Health plans like BCBST that combine NetworXPricer with Facets are using TriZetto's sophisticated technology to its fullest advantage," said Tony Bellomo, president of TriZetto's software unit. "Our NetworX system can help health plans reduce errors and tighten claims processing, even as provider contracts become more complex." About BlueCross BlueShield Tennessee BlueCross BlueShield of Tennessee is the state's oldest and largest not-for-profit health coverage provider, serving more than 2 million Tennesseans. Founded in 1945, the Chattanooga-based company is focused on financing affordable healthcare coverage and providing peace of mind for all Tennesseans. BlueCross serves its members by delivering quality healthcare products, services and information. For more information on BlueCross BlueShield of Tennessee, visit the company's website at www.bcbst.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, 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. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. The forward-looking statements are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other SEC filings. |
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