TriZetto Teams with AmeriScript to Provide Third-Party Administrators with Pharmacy Benefit Management Services.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) today announced a distribution alliance with AmeriScript to provide TriZetto's benefit administrator customers with discounted access to AmeriScript's pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. (PBM PBM - play by mail. See play by electronic mail. ) program. TriZetto is integrating AmeriScript's PBM services with its line of QicLink[TM]-based health benefit administration software, hosting services, and business services. The alliance supports TriZetto's strategy of establishing key partnerships that enhance the risk management capabilities of benefit administrators. As pharmacy costs continue to consume an escalating portion of each healthcare dollar, the rise in prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, usage and spending has forced many employer groups to reduce pharmacy coverage and increase member coinsurance A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy according to a fixed percentage of the value for which the property, or the person, is insured. rates. TriZetto joined forces with AmeriScript to offer benefit administrators highly competitive pricing for their employer clients, who will be able to better manage expenses in this critical area. "TriZetto is very pleased to provide our clients with a prescription drug management program that can deliver some of the lowest drug costs in the industry," said Joseph Manheim, senior vice president of Benefits Administration for TriZetto. "The AmeriScript relationship further expands our ability to support benefit administrators with the critical tools that can help them gain a competitive advantage in the retail healthcare market." TriZetto's QicLink customers will benefit from exclusive, fully-integrated access to AmeriScript's prescription benefit management services, which include over 50,000 retail pharmacies and mail order services, as well as robust data analysis tools and cost management services. "TriZetto has an intimate knowledge of the payer industry, and we really step inside our customers' businesses to identify their information technology needs," continued Manheim. "To provide our customers with comprehensive solutions, we partner with leaders in their particular niche, whose software and services complement ours and can provide high value to our customers. The AmeriScript partnership is one way we can help benefit administrators enhance their critical revenue growth." "By securing deep discounts from drug manufacturers and pharmacies, AmeriScript offers a highly competitive PBM service that can directly translate into savings for employer groups," said John Baker, R.Ph., vice president of AmeriScript. "Equipped with these deep discounts and robust analytic functionality, our team is well positioned to respond to the needs of employers dealing with the escalation of the cost of pharmacy benefits. TriZetto's excellent reputation in healthcare payer technology combined with AmeriScript's high-tech analytic capabilities gives employers a powerful weapon in the fight to lower healthcare costs. Providing our quality solutions to TriZetto's benefits administrator clients can positively impact the cost of prescription drug care for the many employer groups who administer their benefit plans through the QicLink system." "We are very excited about partnering with the TriZetto team," said Paul Glover Paul Glover (b. July 18 1947) is a community activist currently based in Philadelphia. He is the founder of the Ithaca Hours local currency system, the Ithaca Health Fund (now incorporated into the Ithaca Health Alliance), Philahealthia Citizens' Health Coops, Citizen , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Interplan Health Group, AmeriScript's parent company. "TriZetto and AmeriScript's joining forces will significantly benefit our mutual clients with a truly innovative service. Capturing meaningful data and applying state-of-the-art analytics will have a profound effect on guiding consumers to better health and more cost effective healthcare decisions." TriZetto provides a full complement of benefit administration technology and transaction services that clients can use to improve operational effectiveness, while maintaining the flexibility to adapt to a rapidly changing healthcare environment. Partnering with AmeriScript supports and further enhances this mission. About AmeriScript AmeriScript is dedicated to providing solutions for the escalating cost of prescription programs and positively affecting outcomes. AmeriScript's pharmacy benefit management plans are designed to meet the individual needs of the client, not to provide a "one size fits all" approach, effectively providing solutions to high drug costs for self-funded employers and union groups. AmeriScript is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Interplan Health Group (IHG IHG Intercontinental Hotels Group IHG Iris Hypoplasia with Glaucoma ), a health service company serving more than 1.5 million members. IHG provides a broad array of managed care offerings, including direct PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there networks in nineteen states, the national PPO network of Superien[TM], workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. programs, medical management, out-of-network solutions. AmeriScript can be reached at (800) 681-6912 or www.ameriscript.com. About TriZetto With its technology touching nearly half of the U.S. insured population, TriZetto is distinctly focused on accelerating the ability of healthcare payers to lead the industry's transformation to consumer-retail healthcare. The company provides premier information technology solutions that enhance its customers' revenue growth, increase 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. The company's 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 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 February, 20, 2007. 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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