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TriZetto Signs Agreement With Physicians Health Plan of Mid-Michigan and South Michigan to Provide Business Processing and Hosted Software

Posted on: Tuesday, 31 January 2006, 09:01 CST

The TriZetto Group Inc. (NASDAQ:TZIX) announced it has signed a seven-year agreement with Physicians Health Plan of Mid-Michigan (PHPMM) and Physicians Health Plan of South Michigan (PHPSM) to provide business processing services and software hosting. The two Michigan plans are located in Lansing and Jackson, respectively.

Under the agreement, TriZetto will provide administrative healthcare services, such as claims processing, member enrollment, and billing. TriZetto will also host and manage on behalf of the customer Facets Extended Enterprise(TM), TriZetto's core administrative system, as well as multiple specialized software components, including: CareAdvance Enterprise for advanced care management; NetworX Pricer(TM) for provider contract management; and the Facets e2 Workflow application. The parties anticipate that these services will begin in late fourth quarter, after completion of the implementation.

"We believe that TriZetto's technology leadership will favorably position our plans in an increasingly competitive marketplace," said Olga Dazzo, president of PHPMM. Greg Gieseman, president of PHPSM, added, "As a true technology partner, TriZetto also offers the rich functionality we need. Through this agreement, we can improve our efficiency and at the same time support our mission of providing superior service to members and providers."

"We are excited to have PHPMM and PHPSM join the TriZetto family of customers. With TriZetto's comprehensive business solutions, health plans can improve back-office operations, better manage costs, and achieve a significant return on their IT investment," said Patricia Gorman, executive vice president of TriZetto's Business Solutions unit. "Our exclusive healthcare focus, professional staff, and flexible software are a powerful combination that can help our customers to compete effectively as healthcare evolves and grows more complex."

About Physicians Health Plan of Mid-Michigan

Physicians Health Plan of Mid-Michigan currently offers fully-funded and self-insured products to the commercial market in a nine-county service area in and around Lansing, Michigan, as well as participation in the State of Michigan Medicaid program. PHPMM was recently named one of "America's Best Health Plans" by US News and World Report. For more information, visit www.phpmm.org.

About Physicians Health Plan of South Michigan

Physicians Health Plan of South Michigan currently offers fully-funded and self-insured products to the commercial market in and around Jackson, Michigan. PHPSM was also recently named one of "America's Best Health Plans" by US News and World Report. For more information, visit www.phpcares.com.

About TriZetto

TriZetto serves the payer market, comprised of national and regional health insurance plans as well as benefits administrators, which provide transaction services to self-insured employer groups. The company offers a broad portfolio of information technology products - software, outsourcing services, and consulting services - tailored to the needs of healthcare payers. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or 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 provisions of the Private Securities Litigation Reform Act 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 and quarterly reports on Form 10-Q, copies of which may be obtained by contacting TriZetto's Investor Relations department at 949-719-2225 or at TriZetto's web site at www.trizetto.com. All information in this release is as of January 31, 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.

Source: Business Wire

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