The TriZetto Group Inc. (NASDAQ: TZIX) today announced a distribution alliance with AmeriScript to provide TriZetto’s benefit administrator customers with discounted access to AmeriScript’s pharmacy benefit management (PBM) program. TriZetto is integrating AmeriScript’s PBM services with its line of QicLink™-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 usage and spending has forced many employer groups to reduce pharmacy coverage and increase member coinsurance 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, CEO 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 of Interplan Health Group (IHG), a health service company serving more than 1.5 million members. IHG provides a broad array of managed care offerings, including direct PPO networks in nineteen states, the national PPO network of Superien™, workers’ compensation 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 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 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 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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