CareSource Selects TriZetto's CareAdvance Enterprise Software and Specialized Components to Help It Administer Medicaid Business; Existing Facets Customer Expands Relationship with TriZetto.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 CareSource, one of the largest and fastest-growing Medicaid managed care plans in the nation, has purchased its CareAdvance Enterprise software and NetworX Modeler(TM) and 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 e2 Workflow specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. applications to help it efficiently manage the demands of the growing Medicaid market. The customer has also signed an additional professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. agreement with TriZetto to install CareAdvance Enterprise and integrate it with its existing Facets(R) administration system, which CareSource has been using since 2003. Facets is now used to process medical transactions for approximately 25 percent of the managed Medicaid market. "Our mission at CareSource is to make a difference in the lives of underserved people by improving their healthcare," said Mike Knellinger, chief information officer for CareSource. "TriZetto has the expert staff and highly automated and functional technology that can help us continue to be an innovative national leader in the management of quality public-sector healthcare programs." CareAdvance Enterprise is a single platform that health plans can use to automate utilization, case, disease and population management, and to extend a personal health record and personal health management tools to their members. "TriZetto's care management solutions can help our customers better manage growing healthcare costs and the demands of caring for chronic, high-cost populations," said Robert London, M.D., chief clinical officer and head of the Cost and Quality of Care unit for TriZetto. "CareAdvance Enterprise is a highly efficient technology that supports improved communications and increased collaboration with members." NetworX Modeler is software that predicts the financial impact of new or revised provider contracts, allowing health plans to structure the most strategic pricing arrangements with doctors and hospitals. Facets e2 Workflow is another specialized component that can increase ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). and operational efficiency by automating manual tasks, intelligently prioritizing and funneling work to the right person at the right time. "Because TriZetto is exclusively focused on the needs of healthcare payers, we develop our enterprise software and specialized components with integrated features to address their specific business requirements," said Tony Bellomo, executive vice president of TriZetto's software unit. "TriZetto continues to invest extensively in research and development to support the rapidly changing healthcare market, including the unique administrative and IT challenges of government-sponsored programs." About CareSource CareSource is a nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive. Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. healthcare plan that serves more than 438,000 Medicaid consumers in Ohio and more than 80,000 Hoosier Healthwise consumers in Indiana. CareSource covers all required services and offers extra benefits such as a 24-hour nurse advice line, programs for pregnant members and transportation to doctor's appointments. CareSource is serviced by CareSource Management Group, which offers a full spectrum of services for the administration of public-sector healthcare programs. Among these services are general administration, including claims processing, case and medical management, provider relations, decision support informatics Same as information technology and information systems. The term is more widely used in Europe. , quality improvement, and regulatory compliance; member services, including a member call center and 24-hour nurse hotline; and financial consultation and turnaround. For more information, visit www.csmg-online.com. 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 5, 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion