The U.S. healthcare industry is the largest vertical market in the world, with annual expenditures of more than $1.4 trillion. This highly fragmented industry includes providers, pharmacies, labs, employers, insurance companies, managed-care organizations, third-party administrators, healthcare clearinghouses and government agencies. These participants interact with one another on a daily basis, sharing medical records, insurance and financial data, and other administrative information. They face the daunting task of meeting heightened consumer demands while striving to increase revenues and control spiraling costs.

Information technology is increasingly playing a larger role in streamlining and organizing these efforts. However, the healthcare industry has been notoriously behind the curve in automating data transfer and incorporating information technology (IT) into everyday business operations. Additionally, deadlines for compliance with the federally mandated Healthcare Insurance Portability and Accountability Act of 1996 (HIPAA) have made technology adoption a critical issue in healthcare. All of this, plus more than $200 billion spent annually on people- and paper-based administrative services, has sent healthcare executives scrambling to find fast, cost-efficient ways to computerize, automate and manage their businesses. The projected spending for healthcare IT spending in the U.S has been placed at $42.8 billion in 2004 and $46.4 billion in 2005 (Source: Gartner, Inc).1

The TriZetto Group offers a broad portfolio of healthcare information technology products and services that can be delivered individually or combined to create a comprehensive solution. The company provides administrative software; outsourced services, such as software hosting and management, transaction processing, and IT operations management; and strategic and systems implementation consulting. Focused exclusively on healthcare, TriZetto serves more than 450 payers, benefits administrators, and providers.

TriZetto continues to prove its leadership in these key market segments:

TriZetto is the largest provider of packaged software for healthcare payers
TriZetto's proprietary administrative software serves payer customers representing 100 million health plan members, or approximately 40 percent of the U.S. insured population. Facets® is the industry's leading administrative software for managed healthcare payers. The Facets system is used by approximately one-third of Blue Cross and Blue Shield plans. QicLink™ is the industry's leading application for benefits administrators. QicLink software automates the processing of over 141 million claims annually, or about 8 percent of the non-pharmacy claims processed in the United States.

TriZetto is the largest applications service provider in the world (Source: IDC Research)
For a predictable monthly fee, healthcare customers can access best-of-class applications without the upfront and ongoing expense of owning, upgrading and maintaining their own systems. Hosted applications are available individually or can be combined to provide a comprehensive solution. This service is reliable and secure, contains built-in performance guarantees, and is consistent with HIPAA standards

TriZetto is "ahead of the curve" for healthcare IT outsourcing
The Gartner Research Group predicts that by 2004, 75 percent of healthcare organizations will be using some form of outsourcing option2. TriZetto's outsourced services include software hosting and management; back-office transaction processing, such as claims management, billing and enrollment; and IT operations management, in which TriZetto provides staff to run a customer’s entire IT department. These services can reduce or eliminate upfront capital costs and significantly increase return on investment. Customers choose the degree to which TriZetto assumes responsibility for hosting and managing their systems and business services, allowing them to focus less on IT and more on the business of healthcare. When a customer combines all three types of outsourcing, the organization can reap the full benefit of TriZetto's comprehensive solutions.

1 Gartner, Inc., April 22, 2002, “Market Forecast: Healthcare Industry, 2000-2005”
2Gartner, Inc., Jan. 7, 2002, “Healthcare Predictions for Management: 2002 and Beyond”

Information

For more detailed information, please call 1-800-569-1222 or click on the link below. Request more information     Contact a sales rep