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05/16/2007
Kryptiq Announces Alliance with TriZetto for Enhanced Provider Network Management
Companies to Enable Health Plans to Create More Competitive Provider Networks
Portland, Ore., May 16, 2007 - Kryptiq Corporation today announced a new alliance with The TriZetto Group Inc. (NASDAQ: TZIX) that will help health plans to meet increased consumer demands for cost efficiency, data transparency and value. As health plans strive to differentiate themselves and meet the challenge of managing growth while improving margins, they are demanding a new breed of network management solutions.
The TriZetto and Kryptiq solution addresses these needs by helping health plans create more competitive networks and profitably grow membership. Kryptiq’s Choreo Suite enables health plans to automate their entire provider contract management lifecycle, and provides plans visibility and access to the provider and reimbursement rate information necessary to successfully optimize provider networks. TriZetto’s NetworX Modeler™ enables plans to perform financial analysis of proposed contract rates and terms and forecast the impact of a variety of “what-if” scenarios. The solution will allow health plans to import final rates into Choreo’s contracts and assist in improving their financial position with their provider networks. This solution will interface with existing claims systems, including TriZetto’s Facets® enterprise administration system.
Kryptiq and TriZetto made the decision to develop an interface between their systems to offer health plans a comprehensive provider network management system. This solution helps health plans minimize their financial risk, build and maintain competitive networks, and manage the increasing complexity of contracting with thousands of providers.
“We are really impressed with Kryptiq’s people, product capabilities and market success and we share a compatible vision of automating network management,” said Dave Pinkert, vice president, product management for The TriZetto Group. “All health plans need to focus on contract lifecycle management, and we expect many of our current and future customers to benefit from this partnership.”
“The combined health plan challenges of rapid growth and improved margins can only be addressed by applying information technology to the processes of provider network management,” said Luis Machuca, president and CEO of Kryptiq. “We are excited to partner with TriZetto to deliver a comprehensive solution that streamlines contracting operations, optimizes rate negotiation, and provides transparency and access across the customer organization.”
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 broad array of 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 http://www.trizetto.com/.
About Kryptiq
Kryptiq is the leading provider of interoperability and workflow connectivity solutions for healthcare. Kryptiq streamlines healthcare communications among patients, providers, pharmacies and payers with secure messaging, electronic prescribing, disease management and contract management technologies. By integrating these solutions with existing systems and applications, Kryptiq enables the trusted transport of health information where and when it is needed. Kryptiq’s fast-growing customer base includes many of North America’s top 100 integrated health networks, spans 48 states plus Washington, D.C. and includes well-known providers and payers such as Providence Health System, Capital Region Healthcare, MeritCare Health System, Eastern Maine Healthcare, BlueCross and BlueShield of Minnesota and Northwest Permanente. For more information on the company, visit http://www.kryptiq.com/.
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Legal Notice: All rights reserved. Kryptiq is either a trademark or registered trademark and the Kryptiq logo is a service mark of Kryptiq Corp. Other product or service names mentioned herein are the trademarks of their respective owners.
Public Relations Contacts:
Nicole Loux
Racepoint Group
415-694-6705
nloux@racepointgroup.com
RJ Bardsley
Racepoint Group
415-694-6701
rbardsley@racepointgroup.com
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