CareFirst BlueCross BlueShield Selects TriZetto's NetworX Pricer Software to Automate Claims Pricing and Help Manage Costs.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. -- 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 CareFirst BlueCross BlueShield, the largest health insurer in the Mid-Atlantic region, has purchased NetworX Pricer(TM) to automate To turn a set of manual steps into an operation that goes by itself. See automation. the administration of provider contracts and to reduce medical costs. The software automatically prices claims against provider contract terms, to speed the claims process and increase overall efficiency. Using NetworX Pricer, the health plan can automate over 90 percent of claims pricing, and cut in half the time it takes to set up and maintain provider contracts in its system. CareFirst is the thirty-third TriZetto customer to purchase NetworX Pricer. "With NetworX Pricer, health plans can speed claims processing by eliminating the costs, potential errors and inconsistencies of pricing claims manually," said Jeff Hensley, chief technology officer. "Our software allows customers to use a wide array of discounting methods to better manage medical spending." NetworX Pricer is a standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. product that can be used with any core administrative system. The software can help customers deliver more predictable results and better manage even the most complex contracts, so they can provide the best value for their members. Health plans can maximize speed and cost savings by using NetworX Pricer in conjunction with NetworX Modeler(TM), software that uses a health plan's real claims data to forecast costs against proposed provider rates and terms, making it easier to negotiate contracts and manage costs. Contracts can be moved electronically between the pricing engine and the modeler system, without being rebuilt. About TriZetto Touching more than 35% of the U.S. insured population, TriZetto is distinctly focused on accelerating the ability of healthcare payers to lead the industry's transformation. The company provides premier information technology solutions that enhance its customers' revenue growth, drive their administrative efficiency, and improve the cost and quality of care for their members. Healthcare payers include national and regional health insurance plans, and benefits administrators that provide transaction services to self-insured employer groups employer group Association of employers Managed care An entity with a current group benefits agreement in effect with a health plan to provide covered health care services to its employee-subscribers and eligible dependents. . The company's broad array of payer-focused information technology offerings include enterprise and component software, hosting and business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in services, and consulting. Headquartered in Newport Beach, Calif., TriZetto can be reached at 949-719-2200 or at www.trizetto.com. Important Notice Regarding 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. This press release contains forward-looking statements 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 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 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 quarterly reports on Form 10-Q Form 10-Q See 10-Q. , copies of which may be obtained by contacting TriZetto's Investor Relations Investor relations The process by which the corporation communicates with its investors. department at 949-719-2225 or at TriZetto's web site at www.trizetto.com. All information in this release is as of September 19, 2006. TriZetto undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations. |
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