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TriZetto Named Largest ASP In the World, Ranked by 2001 Hosted Software Revenue; Company Captured Most Customer Spending on Hosted Software
NEWPORT BEACH, Calif. – August 13, 2002 – The TriZetto(R) Group, Inc. (NASDAQ: TZIX) has been named the largest application service provider (ASP) in the world by IDC, a global market intelligence and advisory firm. The ranking of ASPs appears in IDC's recent bulletin, "Who's Making Money? IDC's Top 10 Software as a Service Players." The companies were ranked according to their 2001 hosted-software revenue.
ASPs provide access to and management of remotely hosted software for customers. For a predictable monthly fee, customers can access best-of-class applications without the upfront and ongoing expense of owning their own systems. TriZetto hosts, monitors and manages its own proprietary software and third-party software from more than 40 vendors.
"Moving to the top of IDC's list is an important milestone in TriZetto's five-year history," said Dan Spirek, president of TriZetto's Business Solutions division. "Our sole focus on the healthcare industry gives us a distinct advantage in software hosting and other outsourced business services, which require a deep understanding of the customer's business."
Software hosting and management are components of TriZetto's comprehensive range of outsourced services. For example, TriZetto's business process outsourcing (BPO) services include healthcare business transactions such as claims processing, billing and enrollment. TriZetto also provides information technology outsourcing (ITO), employing experienced staff to run all or part of a customer's IT operation.
In the U.S. in 2001, services companies spent approximately $245 million on ASP services, more than any other market, a new study from IDC reveals.(1) According to the April 29, 2002 bulletin, "U.S. Application Service Provider Forecast, 2002-2006: A Vertical View," the healthcare sector will see accelerated growth rates and spending over the next two years as the deadline for compliance with the Health Insurance Portability and Accountability Act (HIPAA) draws near.
(1) IDC, Apr. 29, 2002, "U.S. Application Service Provider Forecast, 2002-2006: A Vertical View"
About TriZetto
The TriZetto Group, Inc. offers a broad portfolio of healthcare information technology (IT) products and services that can be delivered individually or combined to create a comprehensive solution.
The company provides:
- leading proprietary and third-party software, including e-business applications;
- outsourced services, such as software hosting, transaction processing and IT department operations; and
- strategic and implementation consulting.
TriZetto is focused on three healthcare markets: payers, benefit administrators and physician groups. Its more than 550 customers represent approximately 40 percent of the U.S. insured population. Headquartered in Newport Beach, Calif., TriZetto can be reached at (949) 719-2200 or www.trizetto.com.
This press release may contain 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 net revenues, profits, and financial results, the market for TriZetto's services, future service offerings, client and partner relationships, and TriZetto's operational capabilities. 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 services, 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 offerings, and risks associated with rapidly changing technology, as well as the other risks identified in TriZetto's Form 10-K and other SEC filings.
CONTACTS:
TriZetto Media Relations
Margie McCarthy
303-495-7225
margie.mccarthy@trizetto.com
Schwartz Communications
Brian Bogie
781-684-0770
trizetto@schwartz-pr.com
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